Page 26 - TODAY magazine Issue 1 2021

YOUR DREAMS // FINANCIAL FREEDOM
Money challenges are personal. While you may have a maxed-out credit card, a family member might be struggling
to pay off a student loan, a neighbour
could be concerned about mounting medical bills and a friend might be one of the many South Africans who lost their job during the Covid-19 pandemic. Each challenge is different, but at the heart of it there’s one overriding emotion: fear.
Dealing with debt can be debilitating and fear robs you of your power to make sound financial decisions and move forward with purpose. Well-known financial guru Suze Orman suggests a three-step plan everyone can follow, regardless of the amount of debt you have:
1 Face it. Whatever your financial situation, don’t let fear keep you from being more and doing more.
2 Createanewtruth.Thinkaboutwhatyourlifecould look like without debt.
3 Ownit.Makeacommitmenttogetridofyourdebt and set a deadline for when you want to be free of financial burdens.
If you think it’s impossible, read these inspiring stories of people who faced their fear and are now debt-free.
SAMKELISIWE NGUBANE
‘IF YOU TAKE CARE OF YOUR MONEY, YOUR MONEY WILL TAKE CARE OF YOU.’
‘I was living from payday to payday and was often broke two to three days after I got paid. I had to borrow money from friends and family and never had money for even my most basic needs. I was tired of being a burden to the people in my life and frustrated that even though
I had a good job in the finance sector, I couldn’t afford to buy a car.
‘The turning point for me came when I entered a competition. Each contestant was paired with a financial adviser and the help I got from mine was invaluable. We worked together to restructure my accounts and tackled my debt head-on. I was committed, worked hard and after six months I was debt-free, and ended up winning the competition!
‘It wasn’t as easy as it sounds. I had to be very strict and adjust my budget. Learning to say no to myself and others was a real challenge, but I held on to the belief thatlifewouldgetbetteronceIwasdebt-free.Itwasvery encouraging to see my debt steadily decreasing, and it gavemethestrengthtokeepgoing.
‘Even though I bought my parents a car and therefore have debt again, I haven’t forgotten the most valuable lesson I learnt: if you take care of your money, your money will take care of you.’
// 24 // ISSUE ONE 2021