We are drowning in debt

[Freaksta]

I was doing shopping at Pick n Pay in Centurion today and saw a woman with 3 kids, all probably younger than 10 years old. I was thinking to myself does she struggle financially presently, if not will she in future. Taking a child to creche these days is R1000 a month, not to mention buying them food and toys and other things. People must realize that the time of having 3 kids is coming to and end, people must have 1 child. The poor are the worse, they must have 1 child too, the days of the poor having 10 children are long gone. I just want one child, I really don't want to stress myself too much because of not being able to provide for my future children adequately.

People manage somehow, I'm not sure how people mange with so many children but yup(even though im from a family of 4, my dad is luckily enough to own a very successful business).

What I really don't get is how people from the town ships manage with so many children, and why they do this? I've heard of youngsters falling pregnant to get a grant and then dropping the kid off at the mother or grand mother. But yea we definitly need population controll in za., I somehow doubt we will have a decline in our growth though.

 

[MR.C]

There's always a plus to every problem. The plus in this situation is those that save up can get bargains at auctions.

 

[ice_cubes]

People manage somehow, I'm not sure how people mange with so many children but yup(even though im from a family of 4, my dad is luckily enough to own a very successful business).

What I really don't get is how people from the town ships manage with so many children, and why they do this? I've heard of youngsters falling pregnant to get a grant and then dropping the kid off at the mother or grand mother. But yea we definitly need population controll in za., I somehow doubt we will have a decline in our growth though.

Everything is cheap in the township & school fees is free (or lessthan R200 per ANNUM). So you only really start worrying when your kids finish matric.

 

[JerryMungo]

Everything is cheap in the township & school fees is free (or lessthan R200 per ANNUM). So you only really start worrying when your kids finish matric.

Uh... WHY then do they send their kids into the burbs to live with aunty just so they can go to an 'expensive' ex model c school? I'm guessing township school is just poor edu?

 

[Greggle]

I chuckle at a car that parks in the building where I work. I believe the guy is an investment advisor ... he drives the fanciest of fancy B-M-Wobble-yous and his number plate is "INVEST".

Perhaps he missed the chapter in the DIY book that a vehicle is a depreciating asset!!

 

[Sinbad]

I chuckle at a car that parks in the building where I work. I believe the guy is an investment advisor ... he drives the fanciest of fancy B-M-Wobble-yous and his number plate is "INVEST".

Perhaps he missed the chapter in the DIY book that a vehicle is a depreciating asset!!

Would you take investment advice from a guy who looks like he can't afford a decent car? In his business, it's probably a must...

 

[HavocXphere]

net salary of R25300 and monthly debt repayments of R36084

How the hell did they manage that?

Surely at some point it occurs to them that the best way out of a hole is to stop digging?

 

[UnUnOctium]

Would you take investment advice from a guy who looks like he can't afford a decent car? In his business, it's probably a must...

When it comes to brokers and fund managers, the only thing that speaks is stats. I wouldn't care less what he drives, his money is his to do what he pleases and there's already enough insurance and professional regulation to make sure he doesn't steal yours.

 

[noxibox]

I chuckle at a car that parks in the building where I work. I believe the guy is an investment advisor ... he drives the fanciest of fancy B-M-Wobble-yous and his number plate is "INVEST".

Perhaps he missed the chapter in the DIY book that a vehicle is a depreciating asset!!

For all you know he bought that car with what he considers spare change.

Well the CPI tracks prices of majority of consumer good so if the price of food has tripled, then the CPI should reflect that, and companies would adjust accordingly. The basket is made up of most of the generic cost of living products.

The issue for many people is that the balance of goods used to determine official inflation does not reflect how they spend their money. As much as possible the basket of goods should represent the way most people are typically spending their money, but it is of course impossible to have it be a true reflection of any individual's spending and thus inflation. Complaints that the government's figure seems to bear no resemblance to an individual's balance of spending is not unique to South Africa. Companies typically then use only the most recent official figures which can be a problem if the inflation has just come down at salary increase time.

Food prices have escalated dramatically in South Africa and elsewhere, even countries that have very low official inflation figures. That of course is only a big deal if you spend a large percentage of your income on food.

I was doing shopping at Pick n Pay in Centurion today and saw a woman with 3 kids, all probably younger than 10 years old. I was thinking to myself does she struggle financially presently? If not will she struggle financially in future? Taking a child to creche these days is R1000 a month, not to mention buying them food and toys and other things. People must realize that the time of having 3 kids is coming to and end, people must have 1 child. The poor are the worst, they must have 1 child too, the days of the poor having 10 children are long gone. I just want one child, I really don't want to stress myself too much because of not being able to provide for my future children adequately.

Children don't need most of the things we buy them and the activities we provide for them, just as we don't need most of the gadgets and toys we buy. Someone who has lots of children might have the money to buy them anything they want and still be able to buy all those toys for themselves. Or they might make personal sacrifices.

 

[Budza]

So when I finish studying, rather get a cheque card than a credit card?

Or will I need a credit card to build a credit rating so that one day I can buy a house? :/

Seems so messed up that I need to get debt, to be in more debt.

Get a Virgin Money Credit Card, to start a credit history. Just don't rely on the credit. IE, use it once in a while when needed, if you need a boost to buy something one month, but ensure you can settle the FULL amount the next month. Don't get sucked into the minimum payment dues etc- settle it ALL!

I was doing shopping at Pick n Pay in Centurion today and saw a woman with 3 kids, all probably younger than 10 years old. I was thinking to myself does she struggle financially presently? If not will she struggle financially in future? Taking a child to creche these days is R1000 a month, not to mention buying them food and toys and other things. People must realize that the time of having 3 kids is coming to and end, people must have 1 child. The poor are the worst, they must have 1 child too, the days of the poor having 10 children are long gone. I just want one child, I really don't want to stress myself too much because of not being able to provide for my future children adequately.

Never going to happen. The pomping poor are pumping out the cadres, remember. ANC likes it like that.

When it comes to brokers and fund managers, the only thing that speaks is stats. I wouldn't care less what he drives, his money is his to do what he pleases and there's already enough insurance and professional regulation to make sure he doesn't steal yours.

True- a sensible car also means the fees are likely less. Crap car means the oke could be a shark though, or a bungler. Judging by car though = books cover, which we all do to some extent. When it really matters (investments, hopefully ) we should read the book = stats.

Debt trap to some extent is a stupid tax. You don't have to pay it...

 

[JungleBoy]

People manage somehow, I'm not sure how people mange with so many children but yup(even though im from a family of 4, my dad is luckily enough to own a very successful business).

What I really don't get is how people from the town ships manage with so many children, and why they do this? I've heard of youngsters falling pregnant to get a grant and then dropping the kid off at the mother or grand mother. But yea we definitly need population controll in za., I somehow doubt we will have a decline in our growth though.

- Poor people would normally not be able to get into debt even if they wanted to. They have very limited access to credit.
- Population growth rate for SA has seen a steady decline in the past decade (from 2.5% - 1.1%).

 

[Lupus]

I was doing shopping at Pick n Pay in Centurion today and saw a woman with 3 kids, all probably younger than 10 years old. I was thinking to myself does she struggle financially presently? If not will she struggle financially in future? Taking a child to creche these days is R1000 a month, not to mention buying them food and toys and other things. People must realize that the time of having 3 kids is coming to and end, people must have 1 child. The poor are the worst, they must have 1 child too, the days of the poor having 10 children are long gone. I just want one child, I really don't want to stress myself too much because of not being able to provide for my future children adequately.

Unfortunately good luck finding a creche for R1000 a month, most of them start at around R1400 and can go up to R4000 a month, children aren't cheap at all. I have a friend with 4 kids not sure how they make it through hey.

 

[Greggle]

Unfortunately good luck finding a creche for R1000 a month, most of them start at around R1400 and can go up to R4000 a month, children aren't cheap at all. I have a friend with 4 kids not sure how they make it through hey.

I'm just grateful that I don't have to put my dogs through school or university. Gish but they cost me a lot every month, though granted they do get the best of the best being the worlds best!! No kids for me, that's for sure ... dog's wouldn't allow it (er, nor would my boy-friend)!

 

[Greggle]

Would you take investment advice from a guy who looks like he can't afford a decent car? In his business, it's probably a must...

So I guess that the joke is on us then?

 

[TipsyTart]

Unfortunately good luck finding a creche for R1000 a month, most of them start at around R1400 and can go up to R4000 a month, children aren't cheap at all. I have a friend with 4 kids not sure how they make it through hey.

We have 3, one in uni and out the house and thankfully I dont have to pay the uni fees..the other 2 cost us about 5k a month..school fees/lift club/clothes and food. They get pocket money for chores(stuff like 5 bucks for picking up dog pooh etc which they do reluctantly so they dont get huge chunks of pocket money from me lolol) and i only buy them "stuff" twice a year, birthdays and xmas. They must save for the other crap they want. I cant even begin to imagine the cost of 4 kids in school.

 

[oldBastard]

Shania Twain sums it perfectly up in one of her songs.

Ka-Ching

We live in a greedy little world
That teaches every little boy and girl
To earn as much as they can possibly
Then turn around and
Spend it foolishly
We've created us a credit card mess
We spend the money we don't possess
Our religion is to go and blow it all
So it's shoppin' every Sunday at the mall

All we ever want is more
A lot more than we had before
So take me to the nearest store

Can you hear it ring
It makes you wanna sing
It's such a beautiful thing--Ka-ching!
Lots of diamond rings
The happiness it brings
You'll live like a king
With lots of money and things

When you're broke go and get a loan
Take out another mortgage on your home
Consolidate so you can afford
To go and spend some more when you get bored

All we ever want is more
A lot more than we had before
So take me to the nearest store

Can you hear it ring
It makes you wanna sing
It's such a beautiful thing--Ka-ching!
Lots of diamond rings
The happiness it brings
You'll live like a king
With lots of money and things

Let's swing
Dig deeper in your pocket
Oh, yeah, ha
Come on I know you've got it
Dig deeper in your wallet
Oh

All we ever want is more
A lot more than we had before
So take me to the nearest store

Can you hear it ring
It makes you wanna sing
It's such a beautiful thing--Ka-ching!
Lots of diamond rings
The happiness it brings
You'll live like a king
With lots of money and things

Can you hear it ring
It makes you wanna sing
You'll live like a king
With lots of money and things
Ka-ching!

 

[Icarium]

The advice to only have ultra low limits, or to do away with credit altogether and save for anything you can't afford right now don't always work in the real world.

Nothing like unexpected medical expenses to make one see *why* having easily available credit facilities on call isn't quite the evil it's made out to be. I have a fair amount of savings, but it's deliberately not easy to access, and that week or so difference between paying for stuff *now* and waiting the week or so to clear funds is sometimes a matter of life and death (or at least between quality healthcare and the russian roulette of our public hospitals).

 

[blunomore]

A lot of people have no grasp of delayed gratification.

It's a case of 'I want it and I want it now' and often it is not the need-to- have items, but the nice-to-have ones that people spend their money on.

We do NOT need to live in a certain suburb or drive a certain car to survive, but we want it nevertheless. Maybe it is also because people often judge each other on what they have and not on who they are on the inside.

 

[Sly21C]

Shania Twain sums it perfectly up in one of her songs.

Those lyrics sure hit home, I'm sure a lot of people do need to listen to that song.

 

[JungleBoy]

A lot of people have no grasp of delayed gratification.

It's a case of 'I want it and I want it now' and often it is not the need-to- have items, but the nice-to-have ones that people spend their money on.

We do NOT need to live in a certain suburb or drive a certain car to survive, but we want it nevertheless. Maybe it is also because people often judge each other on what they have and not on who they are on the inside.

Advertising and Marketing. These two words have a profound effect on how we live today. Learn to ignore them and half your battles are won.