Sarb ups repo rate to 7.25%

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The price of freedom is death - Malcolm X
www.moneyweb.co.za

Sarb ups repo rate to 7.25%

Taking the prime lending rate to 10.75%.
www.moneyweb.co.za www.moneyweb.co.za
As widely expected, South African Reserve Bank (Sarb) Governor Lesetja Kganyago announced a 25 basis-point hike in its benchmark repo rate on Wednesday.

This is the second increase this year, taking the rate to 7.25%, while the prime interest rate for commercial banks will increase to 10.75%.
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I've now officially turned into an unofficial bank for family members :crying:
Lived like a f**ing hobo for years, saving money and killing debt where I could, then two months before I kill my final 2nd home loan debt in record time, thinking I might actually finally have a bit myself to "live a little" I turn into a financial buffer for other people.
FML.

The thing that f**ks me off the most is that the money that can change people's lives when they really need it, tends to be a fraction of the motherf**ing cash they're happy to burn on oversized and overspecced bakkies and cars with k@k excuses as to why they buy these f**Ing s**t heaps to begin with.... and of course, when you warned them about that years ago, you were the frugal p**s.
 
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RaptorSA said:
I've now officially turned into an unofficial bank for family members :crying:
Lived like a f**ing hobo for years, saving money and killing debt where I could, then two months before I kill my final 2nd home loan debt in record time, thinking I might actually finally have a bit myself to "live a little" I turn into a financial buffer for other people.
FML.

The thing that f**ks me off the most is that the money that can change people's lives when they really need it, tends to be a fraction of the motherf**ing cash they're happy to burn on oversized and overspecced bakkies and cars with k@k excuses as to why they buy these f**Ing s**t heaps to begin with.... and of course, when you warned them about that years ago, you were the p**s.
Click to expand...
Problem is you must stop being so windgat in front of your family. Pay off your debts and save up in silence. In other words, hou jou bek and live your life. And if anyone asks, you say no you don't have. No explanation needed. And it's alright if they call you a p%@s. At least you will be a p#*s with money.
 
RaptorSA said:
The thing that f**ks me off the most is that the money that can change people's lives when they really need it, tends to be a fraction of the motherf**ing cash they're happy to burn on oversized and overspecced bakkies and cars with k@k excuses as to why they buy these f**Ing s**t heaps to begin with.... and of course, when you warned them about that years ago, you were the p**s.
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Such is the mentality in SA.. It's been like that since the Ford Cortina days.
When I was a young man an older gent once told me.
"Look, the Ford Cortina bakkie is in the driveway, all polished and shiny, but the house is falling apart and there is f0kkol food on the table. Got to keep the status of being a Ford Cortina Gawie"

These days, it's more about two things:
1. Being better than the people next door
2. Compensating for small phallus size
 
Carl_Johnson said:
Problem is you must stop being so windgat in front of your family. Pay off your debts and save up in silence. In other words, hou jou bek and live your life. And if anyone asks, you say no you don't have. No explanation needed. And it's alright if they call you a p%@s. At least you will be a p#*s with money.
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I hope other people read this reply.
You just hit a motherf**ing home run and summed up exactly the problem that started all this.

I got careless by wanting my share my excitement about complete financial freedom with people close to me and didn't take into account the full long term consequences.
 
EmmanuelGoldstein said:
Look, the Ford Cortina bakkie is in the driveway, all polished and shiny, but the house is falling apart
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You have no idea how accurate that is... "we need to paint the house" was first said probably 12 years ago and multiple jobs, cars and temu orders later not a single thing happened.
 
RaptorSA said:
I've now officially turned into an unofficial bank for family members :crying:
Lived like a f**ing hobo for years, saving money and killing debt where I could, then two months before I kill my final 2nd home loan debt in record time, thinking I might actually finally have a bit myself to "live a little" I turn into a financial buffer for other people.
FML.

The thing that f**ks me off the most is that the money that can change people's lives when they really need it, tends to be a fraction of the motherf**ing cash they're happy to burn on oversized and overspecced bakkies and cars with k@k excuses as to why they buy these f**Ing s**t heaps to begin with.... and of course, when you warned them about that years ago, you were the frugal p**s.
Click to expand...
This was me a couple of years back. Then I learned when to say no. You need to let them feel in order for them to learn. (And then there are the ones who don’t even learn when they feel. They’re just perpetual victims… forever.)
 
RaptorSA said:
I hope other people read this reply.
You just hit a motherf**ing home run and summed up exactly the problem that started all this.

I got careless by wanting my share my excitement about complete financial freedom with people close to me and didn't take into account the full long term consequences.
Click to expand...

Yeah, I unfortunately have seen that play out way too often in families of friends. They get a windfall or achieve some level of financial freedom and the begging bowl comes out.

I'd be hard pressed to share my financial freedom with anyone outside of my absolutely tight immediate family, and even then it wouldn't necessarily be a full share of the details.
 
EthanMH said:
This was me a couple of years back. Then I learned when to say no. You need to let them feel in order for them to learn. (And then there are the ones who don’t even learn when they feel. They’re just perpetual victims… forever.)
Click to expand...

Luckily the person I need to lend to isn't a gomgat and I know I'll get my money back, well, of course it's impossible to "know" since I now have their risk being my risk... but you get what I mean.

ToxicBunny said:
I'd be hard pressed to share my financial freedom with anyone outside of my absolutely tight immediate family, and even then it wouldn't necessarily be a full share of the details.
Click to expand...

It is absolute immediate family... :)

ryan-reynolds-goddammit.gif
 
RaptorSA said:
Luckily the person I need to lend to isn't a gomgat and I know I'll get my money back, well, of course it's impossible to "know" since I now have their risk being my risk... but you get what I mean.



It is absolute immediate family... :)

View attachment 1940860
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Eish, sorry boss. Can I put out the begging bowl asseblief? If only to achieve my own level of financial freedom sooner? :P
 
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