“You either master money, or, on some level, money masters you!”
~ Tony Robbins
To master is to overcome fear of the subject or to gain control over it. It is the position which you need to take to be able to realise financial freedom.
Financial freedom is a possible reality for every single person. Even if it sounds preposterous when you look at the unemployment rate in South Africa, sitting at 45.5%, which is nearly half the country. How can we make a claim then, that financial freedom is possible for everyone? Because it is. Everyone’s path is different. It may take longer for some people than others to reach this place, but it is a possible reality, if you learn to master your money.
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The Who’s Who in Your Wallet
In South Africa, it is common for a households’ financial responsibilities to sit squarely on one person’s shoulders. While many circumstances cannot help this, it does become imperative that you tighten your budget and those who eat from it.
You need to understand that your money can only go so far, and no number of financial tips and tricks will help if you cannot learn to say ‘no’.
Suffering financially because you lent money to friends or family who have a history of not returning your money, should also be considered as a practice run to begin saying ‘no’.
The “Whatever, it’s Just a Few Bucks” Death-trap
Everywhere you look, businesses are fighting to grab your attention. Everyone has something to sell. And the better they are at the science of attention grabbing, the more likely you are to buy into their products. No one is completely immune to this. If you look at your subscriptions or random cheap items that you tend to buy throughout the month, how much of it are you using… really?
It might seem like a subscription fee of only R20 per month is nothing. But tomorrow, that R20 might be needed to buy a loaf of bread before payday or pay for parking.
Ever thought about an item, researched the price and then suddenly saw it advertised on almost every webpage that you visit? That is how you part with your money without realising it. It’s not divine intervention, it’s cookies! Not a sign you should purchase. Don’t fall for it.
So, what stops this massive onslaught of targeted advertising taking the money right out of your pocket? Make a budget. Do not deviate from this budget, even if you really wanted the item and it’s only a click away.
Creditors Claiming the Master Seat
Unfortunately, debt is a dangerous path to head down. Unless you have all your avenues covered and a mass of savings on hand. Debt causes extreme stress and hands your financial power over to creditors. Signing your master seat over to purchase items which may or may not be necessities. Is it necessary to have a new car every few years or a wardrobe from a particular brand?
It isn’t simply debt, it’s handing over the control of your money for a set period. If everything goes topsy-turvy as it has now with South Africa’s economy, extreme financial burdens become a reality. Rather remain free from blacklisting and keep your budget affordable, minimise the financial turmoil and pay off your debt while remaining a master on your road to financial freedom.
Claiming Master Status Over Your Finances
You are the master of your finances; you don’t need to find ways of becoming one. You simply need to reclaim the throne of financial wellbeing in your life. This happens when you constantly stay informed about monetary matters, upgrade your knowledge base on terms such as inflation, interest rates, budgeting, saving and integrate powerful financial practices into your everyday life.
Regardless of your current financial position, there is always room for improvement. Stand tall and proud and move forward as the master of your own money. Do not give the control away, keep it and watch those finances grow. So many people have started from nothing and reached positions where their bank balances grew to six figures and more. You are no different, but you need to understand that to make it, you must first take the baby steps.
If you are finding yourself avoiding phone calls from creditors and are fearful that you may be blacklisted due to non-payments. Send us a WhatsApp now and let us find that solution for you. Imagine the peace of mind when they stop phoning, and you can concentrate on your next best money moves!
Debt Rescue has been at the frontlines assisting over-indebted South Africans. Debt Rescue has managed to help thousands of consumers achieve financial freedom through the debt review process. Contact us now to see how you too can manage your debt affordably.