When it comes to personal finance, a lot of (middle class) people fall for the very same traps over and over again. Check out what they are and hopefully avoid them in the future.
Ohh my my The first mistake buying a Car and House OMG it still haunting and troubling me to this day. We are so trap of the "Lifestyle Inflation" Can someone come and take the car and house back to it owners😢😢Am tired.
I'am young too and recently I was just presented with a big cheque I have never seen in my life to be honest I was gonna go wild on clothes and stupid stuff but ive come across your content, and It brought a paradigm shift so I will now buy a camera for freelance photography and register a company ive been planning since high school, financial knowledge is needed in the black community, thank you for what you do?
When it comes to family tax, yes I agree it is important to be honest kodwa some people won't understand you even if you explain yourself in every language. It is also important to make peace with that and not feel guilty.
I had to draw the line with black tax. It was uncomfortable and emotional but I had to do it. We need to help our family members of course but they also need to understand that you've got your own projects and goals to achieve.
Family tax is real sis !! Worse for us gents when you get married & now have 2 fronts where the battle has to be fought (your family & hers) the shaming can easily get out of hand.
1. Buying more than you can afford (cars, houses) 2. Funding lifestyle with debt. 3. Not having an emergency fund. 4. Do not invest. 5. Try to get rick quick. 6. Black tax
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
it's nice to have someone to bail USA out now and then but they are enablers of bad habits. money that you didn't work for doesn't have the same value as the money you earned. so by saying no, you are helping them to be hustlers
I think for some people they are so attached to being the hero in the family that they cant bare to be seen as a failure by not helping even if it means starving themselves. I had to give my Mom a reality check a few years ago bcoz her life was stagnant while everyone else's was thriving bcoz she kept helping people who were not helpless only using her.Today everyone is dependant on themselves unless its a family issue or an emergency. Not this thing of using one person bcoz they cant say no!!!
My mother was in that trap for a very long time even on Xmas her family would come for a feast and it was always our house. Until I started working I called each of them asked for contributions towards Xmas lunch. Everyone was happy to contribute. She thanked me coz after that Xmas everyone wanted to contribute in further events. She finally stopped playing hero!!!
I bought ur book in March, I couldn't read it bcz of the pressure of being a working student... 9 Months later I made time for it and I jxt can't put it down, it's very indulgent and insightful.... Well done Ausi, Enkosi kakhulu👌🏾❣️👌🏾
I am a new subscribe 😀& love your videos very helpful as a 38 yrs old who is in a journey to fix her finances & build a financial legacy for my kids can't thank you enough 🙏
I coward away in shame when she made the get rich fast point😂 I've learned so much in such a short space of time,thank you for this. Definitely a new subbie
I find that information surrounding investing can be so extensive and overwhelming. Sometimes the jargon gets a bit much. Is there an easier way to learn all these important things without feeling like you're suffocating from information overload? Like investing 101 for dummies or similar?
With a "security taker money personality" I love your simple advises, @9:35 (Basics/Foundation first) Checklist the basics first (budget, emergency fund, pay-off debt...ect) & diversify (cash for goals, equity, retirement) then one can be ready to go high risk. Thank you Mapalo
Thank you for this dear, just came across your content. ..im guilty of aleast 3 of things u listed...im working on myself. Fortunately im one who can adjust easly if life demands..."Salary cuts" have made things worst for me, as a result i decided to rent out my outside room..( lets just say that ddnt work out as planned). Ddnt realised how must i loved my space😶 But "yours trully "ddnt give up...this month just started my side bussiness as a consultant ...im scared yet excited. Im taking all the wise financial advice i can get. Once again that u🙌
Thank you for this Mapalo, your content is good. I want to try move my money from just investing to put it in a tax free saving and see what you mean with the compound interest
Sometimes one can find financial advice in a certain format can be for entertainment purposes only, but then again some advice are geared towards certain lifestyles and mindset....
The worst part about being a victim of black tax is that when you are in need, there's likely no one to help you. When I think of this, my level of guilt goes straight to minus 1 about saying no
Be humble, keep it simple, spend less then you earn, save & invest the rest, don't borrow money except to buy a house, you will be financially secure & have peace of mind.
Some homeloans have an option of allowing you to access the extra cash in your bond...can I use that option as my emergency fund..since putting extra there kills interest in my current debt
Hi. I've just started following you. I must still catch up and so I'm not sure if you have spoken about debt consolidation. I keep getting calls for that and I only have two debts. A bond and a student loan. I honestly do not want to combine them. What's your take on debt consolidation
first time watching ur vids. I was debt free on credit cards but now i accumulated total of 6k 🤦🏻♂️ it just grows fast u wouldn’t noticed it right away. Working on paying it off but i just wanna cry using big chunk of my paycheck to pay for it. 😭
Hi Tshepo, your best bet is a mutual fund, where you can invest in fixed accounts, shares, bonds, properties and other assets. BIFM has fantastic funds to choose from. You can choose from short to middle and long term investment funds depending on your goals and risk tolerance. There is also Allan Gray and some investment funds, but I’ve had a great experience with BIFM. I’m from Botswana too.
@@tshepopatiencemafojane1661 go for ETFs mutual funds are ripping of with the managing fees while most if the time they do not produce excess profits (well, even when they do, they are eaten by fees).
Hey, I love your videos I'm just curious why did you use your emergency fund to fix your car? I'm new here...I'm just wondering do you not have insurance? It might sound like a silky question but I'm just wondering why you chose not to use your insurance.
@@manotshimotloung8124 😂😂😂 my PA is a great hairstylist as well. She sourced the hair, made it for me and styled it as well. Her handle on IG @theglambar_sa
I will keep driving my old 2009 Toyota because it’s paid off! I don’t need the new flashy car.
🙌🏿
You and me both
You're blessed.
Ohh my my The first mistake buying a Car and House OMG it still haunting and troubling me to this day. We are so trap of the "Lifestyle Inflation" Can someone come and take the car and house back to it owners😢😢Am tired.
I'am young too and recently I was just presented with a big cheque I have never seen in my life to be honest I was gonna go wild on clothes and stupid stuff but ive come across your content, and It brought a paradigm shift so I will now buy a camera for freelance photography and register a company ive been planning since high school, financial knowledge is needed in the black community, thank you for what you do?
This is the best comment ever! More power to you 💯
I have learnt to say no, and it has worked for me, and the problem is that if you always help they will get use to it, this includes friends
Bought my first house at 27, my friends still out here driving mercedes and impressing ladies.
Been living below my means for 3 years now and I love it 🙏🏾🙏🏾🙏🏾
When it comes to family tax, yes I agree it is important to be honest kodwa some people won't understand you even if you explain yourself in every language. It is also important to make peace with that and not feel guilty.
Totally agree with this
You have to have boundaries when it comes to this so you are not used, abused & overextended yourself.
I had to draw the line with black tax. It was uncomfortable and emotional but I had to do it. We need to help our family members of course but they also need to understand that you've got your own projects and goals to achieve.
Family tax is real sis !!
Worse for us gents when you get married & now have 2 fronts where the battle has to be fought (your family & hers) the shaming can easily get out of hand.
1. Buying more than you can afford (cars, houses)
2. Funding lifestyle with debt.
3. Not having an emergency fund.
4. Do not invest.
5. Try to get rick quick.
6. Black tax
God bless you!!
So I should try to get Rick with a bit more patience?
Your videos have helped me reach over $180,000 in trading by age 23! Thanks Mapalo Makhu. Keep the videos coming. 👍🏽
Congrats ! I started right before covid when the recession hit. i made a lot during covid from my passive income .
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
Congrats and wishing you the best .
@kim sun When I was 20 ,but you need a finance Pro if you don’t want to loose and if you want to be more successful.
@kim sun Follow⬇⬇
I am currently funding my lifestyle with debt. this video is helpful and I am going to work on my problem
Well done
"There is nothing special about you" straight up killed me. Girl out here spitting facts that we need to hear 👏
We need more S.A content like this 🧠
Just started adulting , thank you.
This year I am learning to say no and set boundaries..it is hard for to say no😭😭😭
it's nice to have someone to bail USA out now and then but they are enablers of bad habits.
money that you didn't work for doesn't have the same value as the money you earned. so by saying no, you are helping them to be hustlers
I think for some people they are so attached to being the hero in the family that they cant bare to be seen as a failure by not helping even if it means starving themselves. I had to give my Mom a reality check a few years ago bcoz her life was stagnant while everyone else's was thriving bcoz she kept helping people who were not helpless only using her.Today everyone is dependant on themselves unless its a family issue or an emergency. Not this thing of using one person bcoz they cant say no!!!
My mother was in that trap for a very long time even on Xmas her family would come for a feast and it was always our house. Until I started working I called each of them asked for contributions towards Xmas lunch. Everyone was happy to contribute. She thanked me coz after that Xmas everyone wanted to contribute in further events. She finally stopped playing hero!!!
This used to be me…woke up a bit late but now am free of that.
I bought ur book in March, I couldn't read it bcz of the pressure of being a working student... 9 Months later I made time for it and I jxt can't put it down, it's very indulgent and insightful.... Well done Ausi, Enkosi kakhulu👌🏾❣️👌🏾
I didn't even watch the video, just liked and subscribed, just because it's a young African doing her thing and will forever just like your videos
Amazing video Ausi Mapalo. Your voice is so calm, You have a voice of reason like those aunties in black families that are always right. God bless
Stumbled on this channel and I am loving it. Thank you Mpho
This was so spot on! Learning to break the cycle
Very insightful, thanks Sisi 🙏🏾
I don’t classify myself as middle class and I thing I am on a right track with the little that I have 🙏🏾
Heyyyyy i felt the black tax part, its so so real and makes you resentful after a while.
But where do we invest, these commercial companies are not helping
I am a new subscribe 😀& love your videos very helpful as a 38 yrs old who is in a journey to fix her finances & build a financial legacy for my kids can't thank you enough 🙏
I coward away in shame when she made the get rich fast point😂
I've learned so much in such a short space of time,thank you for this. Definitely a new subbie
Thank u so much, i really needed this. I just bumped into this video and it's helped a lot. I will be watching more of your videos going forward 👏
Thank you for this Video speaking about what really keeps us as middle class to not achieve our goals 🙌
I’m not even middle class but I have found myself trapped someway in the sbwl
I find that information surrounding investing can be so extensive and overwhelming. Sometimes the jargon gets a bit much. Is there an easier way to learn all these important things without feeling like you're suffocating from information overload? Like investing 101 for dummies or similar?
I really recommend Investing with Rose! she's super beginner friendly!
@@rhahavyb Thank you so much. I appreciate it. You're awesome.
Also look into Dave Ramsey's baby steps. That has helped me alot. I have no credit card debt cause of his steps.
With a "security taker money personality" I love your simple advises, @9:35 (Basics/Foundation first) Checklist the basics first (budget, emergency fund, pay-off debt...ect) & diversify (cash for goals, equity, retirement) then one can be ready to go high risk. Thank you Mapalo
Excellent tips as always!
Thank you for these tips!Love your voice
Thank you for this dear, just came across your content. ..im guilty of aleast 3 of things u listed...im working on myself. Fortunately im one who can adjust easly if life demands..."Salary cuts" have made things worst for me, as a result i decided to rent out my outside room..( lets just say that ddnt work out as planned). Ddnt realised how must i loved my space😶
But "yours trully "ddnt give up...this month just started my side bussiness as a consultant ...im scared yet excited. Im taking all the wise financial advice i can get. Once again that u🙌
very very informative , needed this wakeup call.
Thank you for this Mapalo, your content is good. I want to try move my money from just investing to put it in a tax free saving and see what you mean with the compound interest
Thank you for the info, I'm that person who always says "Yes" most of the time. I need to start saying No not this month. 👏👏👏
This was very helpful, thank you for the tips..
I’ve got my eye on you….. you literally got me captivated…❤️❤️❤️ your vid
I cant wait to be in a position to be able to have emergency fund, i learnt the hard not to have emergency fund.
Great content! Thank you
Your background is everything, thixo 🙌🏿
Very informative. Thanks sis
Your advice is amazing👌🏻
She is right on !!🇨🇦👍
I need to get a hold of your book !! Am in Namibia
Thanks sis this is helpful 👌🏾
You are amazing just what i wanted to hear
Tip 4 resonates a lot with me? Can you please share more insight on investing?
So helpful ❤
Nice level minded advice! Thank you
I love your content. I think we need a second book
You are so original I love this, but I really need your advice
Bathong content aside. You are so gorgeous hle.
Shes glowing honey...Am also staring😍👌
I cant wait to buy your book♥️
Hi I'm new subscribe fan
Being inspired by you.
Love love love love 😍
Almost all the above especially the fam one 🙉🙉
This is such a good video
Amazing video!!!!!!
I often find my trapped by that one friend who will ask ask me to help him out cash every month.
Sometimes one can find financial advice in a certain format can be for entertainment purposes only, but then again some advice are geared towards certain lifestyles and mindset....
The worst part about being a victim of black tax is that when you are in need, there's likely no one to help you. When I think of this, my level of guilt goes straight to minus 1 about saying no
I love the “ke nna” part! That’s what I do on my channel! Wow 🤩
🤗❤️❤️
I've been struggling to keep my "emergency Fund "😫😫 I'd put money away and later when m broke go for it👐
I'm going through the same😭
We need help 😩
lmfao same. Its hard to replenish that emergency fund again once u used it 😭
Be humble, keep it simple, spend less then you earn, save & invest the rest, don't borrow money except to buy a house, you will be financially secure & have peace of mind.
Speaking from experience
I'm learning to say no now, and it's a very painful process.
Completely off topic.. but you’re hair is gorgeous! Details, please?
Jesus loves you and died for our sins amen beautiful day to serve the Lord Jesus 🙌❤️🙌
Bài hit làm mưa làm gió một thời của chị Bảo Thy. Cám ơn Đức Phúc mang nó trở lại với màu sắc mới ❤️❤️❤️❤️
Paying off my fees, my emergency fund is not healthy
Such a good video. New Subbie:)
The last one is big one for me 😭😩
What accounts or products return us compound interest?
What do you do for a living,?
Any books tips or movie.
Some homeloans have an option of allowing you to access the extra cash in your bond...can I use that option as my emergency fund..since putting extra there kills interest in my current debt
where should we invest?
I need to throw away my credit card
Hi. I've just started following you. I must still catch up and so I'm not sure if you have spoken about debt consolidation. I keep getting calls for that and I only have two debts. A bond and a student loan. I honestly do not want to combine them. What's your take on debt consolidation
I get that we should invest, but where?in what??
All but family tax. I'm working to fix all that though.
How do you invest and where
What about girlfriend allowance it's also considered as black tax
first time watching ur vids. I was debt free on credit cards but now i accumulated total of 6k 🤦🏻♂️ it just grows fast u wouldn’t noticed it right away. Working on paying it off but i just wanna cry using big chunk of my paycheck to pay for it. 😭
I’m in the struggling to invest rut😭
The only financial trap for me is joblessness
Ousi Mapalo which car is this needing 8K for a light? Rona re ganna di Picanto hle 😂💡 Thanks for the vid ❤️
Not Konka and Aurum catching smoke😂😅
When it comes to crypto, people need to do proper research. There are people doing scams but it’s a legit system
🙏🏼❤️❤️
Hi, what's the title of the book pls
where do you put your emergency fund money
Alcohol sikh be #1
I'm a newbie ❤I love this content ma'am. What can a newly employed middle class young adult consider to invest in? I am from Botswana.
Hi Tshepo, your best bet is a mutual fund, where you can invest in fixed accounts, shares, bonds, properties and other assets. BIFM has fantastic funds to choose from. You can choose from short to middle and long term investment funds depending on your goals and risk tolerance. There is also Allan Gray and some investment funds, but I’ve had a great experience with BIFM. I’m from Botswana too.
@@sherryeltseladikae5471 hey thank you so much, can we please connect further so you share your experience, IG handles?
@@tshepopatiencemafojane1661 go for ETFs mutual funds are ripping of with the managing fees while most if the time they do not produce excess profits (well, even when they do, they are eaten by fees).
Hey, I love your videos I'm just curious why did you use your emergency fund to fix your car? I'm new here...I'm just wondering do you not have insurance? It might sound like a silky question but I'm just wondering why you chose not to use your insurance.
Sometimes the excess to your insurance is much more than the actual cost of the damage so its better to just pay cash!!
📝
You share platforms you can invest even with small amounts of money, thanks in advance
Woooohooo first one here🙈🙈.. Great topic. thank you🥰🥰
Side note: I love this hair. Can we get a plug? Promise will not get it on debt 😅😅
🥰🥰🥰 Thank you Tribe, hope you enjoy it.
@@MapaloMakhu just edited my comment. Please can we get a plug for the hair.. 🙈 will not use debt to but it🙈🙈
@@manotshimotloung8124 😂😂😂 my PA is a great hairstylist as well. She sourced the hair, made it for me and styled it as well. Her handle on IG @theglambar_sa
Where can one invest and get compound interest. I have been investing with metropolitan since 2017 ,but the interest are not pleasing.
Metropolitan and Sanlam are a scam with investments.
I'm also currently looking for better options of where to invest.
You can try investing with Allan Gray
How do I get your book