How do you make the most of your money

AlmightyBender

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Joined
Aug 24, 2012
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4,834
One of the best first steps on this journey is to define your goals. Like life goals and personal fulfillment goals. Answer the question "What do I want the money for" and it helps keep you aligned and motivated to stick to the plan you eventually make to fulfill those goals.

Without that you inevitably make poor financial decisions.
 

Boeliebeef

New Member
Joined
Aug 21, 2019
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3
I was very fortunate that my grandfather and subsequently my father left me quite a fortune (cash, assets and farming and trucking businesses), being the only child, mom and I are continuing the family's farming and trucking operations in Northern KwaZulu Natal - we hired a handful of professionals to help us take the businesses to another level. That is where most of my money comes from. I am also a qualified dietician - I do not make much use of that qualification other than to lecture part time at various institutions. I made a few investments which yield yearly returns as well. I do have a few good dietetic clients who consult privately... I am based in Pretoria currently doing consulting work for a large insurance provider.
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pboy

Expert Member
Joined
Feb 19, 2009
Messages
1,137
another good idea is to automate everything.
debit orders + scheduled e-payments, etc etc, deposits to investment accounts etc etc.
every recurring expense, recurring payment, savings etc. automate!

Remove the biggest risk to your future: yourself!
 

Prawnapple

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May 18, 2015
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2,041
I found a great app. Haven't seen such a highly-rated app in ages.
 

Ishould_BeWorking

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Joined
Dec 5, 2019
Messages
166
Dont believe everything you see on tv, IG and FB - you see alot of people promoting lifestyles that they cannot even afford yet
 

chrisc

Executive Member
Joined
Aug 14, 2008
Messages
8,419
Avoid paying interest as much as you can. Its brings you no benefit at all

Wanted to buy a Lexus Hybrid. The sales person would not listen that I wanted to pay cash. It became evident after 20 mins that he got a kickback from the finance house. He even filled in the form and tried to hide the fact it was a suspensive sale agreement. When I got up and walked out, he shouted "wanker". That was a R800k sale he did not make
 

cguy

Executive Member
Joined
Jan 2, 2013
Messages
5,810
East London had more Millionaires, percentage wise, than Sandton at one stage
Given that there are only 50k millionaires in the country, even if true, this wouldn’t say much about the 80th percentile (the means suggest a 2x gain in Sandton, but I don’t have a huge amount of faith in the numbers).

It does seem like Hermanus or Jefferys Bay would have been a better example of a poorly earning city/town.
 

unobeat

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Joined
Feb 6, 2014
Messages
470
I think lessons in life help pne to make better decisions financially as you learn that you dont need to have store or clothing accounts that eat away your money every month.

3 years ago i started a journey of cutting down DEBT as i no longer enjoyed my hard worked salary. So i started closing clothing accounts that i had. For the last year or so, i have started close off big debts eg: Personal Loan and CC when i got some extra cash instead off spending it on things.

Last month I got some cash and i took 11k,z dumped it into my one CC cancelled and closed it.

I am now left with 2 credit cards and i will be closing the 1 then just keep only 1 and manage it.

When it comes to mobile phones, every 5-6 i get a new phone contract and after 2 years i only take sim contract for data, airtime and sms package as its manageable. I do the same for the wife.

I have a Excel spreadsheet that i have been using for over 10 years since i started working were i track my expenses and even car maintenance.
 
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