Buying a Merc was a mistake - Downgrading my lifestyle

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Buying a Merc was a mistake - Downgrading my lifestyle

Рет қаралды 166,510

Күн бұрын

Hey guys :) Some of us have made bad financial decisions before. This video is about one of mine and I hope it makes you think carefully before making a mistake like mine. Especially young professionals starting off their careers.
Look, you’re probably not going to do what I did lol!
Moral of the story: There is no shame in admitting that you made a bad financial decision. Just correct it.
Enjoy
#FinanceTalk#Advice

Пікірлер: 875

@todaishemangwiza1475 2 жыл бұрын

I found that your life becomes more peaceful when people think you're broke. You also have more freedom because people don't have expectations of you

@inkrdb87 2 жыл бұрын

This is deep, statement of the day.

@zazi5792 2 жыл бұрын

@@inkrdb87 Right? Even of the year!

@Alex-0001 2 жыл бұрын

Todaishe, your finding makes a lot of sense, but if you're broke, people will expect an improvement in your financial situation if it worsened after being fantastic

@nicemalheiro5039 2 жыл бұрын

@@Alex-0001 he said when “ people think you’re broke”. Trying to meet people’s expectations is one of the reason why many of us still keep on making bad choices.

@thobasiziba4109 2 жыл бұрын

Well said

@naledimofficial 2 жыл бұрын

What an honest Convo. I respect you so much for this.

@noziphokhumalo2963 2 жыл бұрын

Our ultimate ultimate fav😍😍😍😍😍😍

@atleganggovuza6733 2 жыл бұрын

Literally 🥺

@BEAUTIFUL_ALLSEASONS 2 жыл бұрын

Thank you for sharing ,needed to hear this.❤️ You are the best!

@lebodlamini1783 2 жыл бұрын

@@noziphokhumalo2963 uioi

@lungakohoho8444 2 жыл бұрын

You can say that again

@gwetsapm 2 жыл бұрын

This is so courageous, most people are dying inside unwilling to downgrade. I bought a GTI after my graduation as an Engineer (Wits). I got excellent pay, most because of the institution I graduated from. I battled to maintain the car after its motor plan expired, tires, patrol (always drove so fast), major service, etc. I sold that car at We Buy Cars, at least it held its value well, I got R70k after settling the bank. I downgraded, bought myself Chev Utility 2nd hand, now using it for 2nd income. I managed to register for MBA with WBS, now waiting to graduate. I am so relieved, am managing to do things I couldn't do. I'm taking my time now, no rush, no pressure.

@smm6526 2 жыл бұрын

But GTI is not that expensive to maintain bro, but I'm glad you did some reality check..

@gwetsapm 2 жыл бұрын

@@smm6526 fair point, I know folks who kept theirs going using Golwegon parts. I preferred a dealer original parts, and they were not cheap for "me". Current GTI 8 sells for R900K, FYI

@smm6526 2 жыл бұрын

@@gwetsapm I hear you bro, but who in their right mind spends 900k on a hatch-back? German original parts are never cheap, once a car is utilised post MP, you may access aftermarket parts, but cautiously, goldwagen is not a bad place, some parts you need to go to the dealer and some parts you may access from goldwagen. A good indy shop will always come in handy for an out of MP vehicle, sometimes trying to keep the dealer stamp may not necessarily mean you will get a good deal once you dispose your vehicle, rather keep an arch lever file for all work that has been done on the car, indy shops do have stamps..

@taetsosetiba2076 2 жыл бұрын

I'm interested to know what you do for 2nd Income with your Chev Utility, whether you do not struggle to get parts since the parent company has closed doors in South Africa?

@noziphokhumalo2963 2 жыл бұрын

We need more conversation like this. There is absolutely no shame in pressing the reset button of our lives and starting again. 🙌

@siyaneliswashozi6384 2 жыл бұрын

This is so helpful. I don't feel bad about being a Doctor and still driving a 2009 Toyota Corolla with no rims lol

@calmu6694 2 жыл бұрын

That's true, the african mindset says Doctors earn a lot of money but in reality NOT unfortunately. Only way to earn more is investment

@peys9267 2 жыл бұрын

Nah, you just cheap Bru 🤣

@qarah6473 2 жыл бұрын

Love it! (Respectfully) cracking at "no rims" 🤣🤣🤣

@safiratau7923 2 жыл бұрын

I was about to get a car I can’t afford because I qualify for it, thank God I came across this ❤️🙏

@senserapetsoa3310 2 жыл бұрын

Only God... I'm with you on this one.

@gcinankomzwayo4443 2 жыл бұрын

Amen 🔥🔥🔥👌🏾

@mabotsechoshane 2 жыл бұрын

An expensive car and overdraft is the biggest trap for young professionals! Thanks for sharing, someone will avoid making the same mistakes we made out of excitement 👌🏽

@atleganggovuza6733 2 жыл бұрын

Yeah, hopefully I didn’t expose myself for nothing 😅

@rataulesego2052 2 жыл бұрын

@@atleganggovuza6733 Hardly. Thank you for your content

@sbonelocele3711 2 жыл бұрын

I found it crazy that I was earning a grand total of R23000 but the bank was willing to give me an overdraft for like R60000. It's a trap guys, honestly it's designed so that you are forever in debt.

@lewis.9770 2 жыл бұрын

People are the biggest trap for young professional men. I started seeing where my money was going the moment I stopped giving women money. I was even able to pay my bills

@kgabomaupye07 2 жыл бұрын

Oh yeah... We learning hle we learning.

@noxible 2 жыл бұрын

I see a person who is secure in her identity.

@nosisekodidi3111 2 жыл бұрын

My first car is a 2nd hand i10 that I bought with my savings. Almost took that money and used it as a deposit for a brand new polo. Instalment would have chowed me. I love my little i10 I call her snowie. All I pay is my insurance while I work towards my dream car. When the time is right the Lord will make it happen 🤍❤️

@atleganggovuza6733 2 жыл бұрын

“When the time is right…” ❤️🤞🏽

@nokuphilandwandwe9769 2 жыл бұрын

Teach us your ways Nosi🤗

@zimbinimqamelo4648 2 жыл бұрын

OMG! I also have a Grand i10 and I call her Snowie! 😭😭😭

@nosisekodidi3111 2 жыл бұрын

@@zimbinimqamelo4648 lol you are a girl after my own heart 🥰🥰🥰

@nosisekodidi3111 2 жыл бұрын

@@nokuphilandwandwe9769 hahaha 😍😍😍😍

@PeacedTogether 2 жыл бұрын

"Moral of the story: There is no shame in admitting that you made a bad financial decision. Just correct it." Thanks for this 👏🏽

@puledoctormokoena415 2 жыл бұрын

This video is so important especially for us black people.

@veronicagouws2655 2 жыл бұрын

Pole important for us wites as well

@terrencempengesi4200 2 жыл бұрын

Very important video really,most of us are struggling to take that downgrade path,because they are doing things for a status and approval from others not themselves.

@khensk 2 жыл бұрын

No genuinely

@masegoramasodi1278 2 жыл бұрын

For real though it’s really important we needed this .

@sir.vumisa5184 2 жыл бұрын

kzfaq.info/get/bejne/gNqEfN12ranIlZ8.html

@thendoronnyramashia749 2 жыл бұрын

As someone who's looking to buy their 1st car, seeing everyone's comments and experience, I'm gonna be humble and go for what I can afford, not what I want. Great video truly.

@boipeloloeto145 2 жыл бұрын

A little bit of advice from my experience, go for a fixed term as to fluctuating. If your start up car premium be: R19,50 fluctuating R26,30 fixed Always choose the fixed. You now now you will pay that through no matter what may come as to end up paying R55,10 due to inflation

@sir.vumisa5184 2 жыл бұрын

kzfaq.info/get/bejne/gNqEfN12ranIlZ8.html

@treasurem2491 Жыл бұрын

Im struggling to be humble, you live once maaarn😭😭😭

@therambler3713 2 жыл бұрын

I started working as a doctor a year ago but I still drive my dad's 2001 Mitsubishi Colt bakkie. It's still in good condition, and runs like a dream. My friends used to make fun of me but now I'm the one getting the last laugh when they're struggling to pay rent and other expenses because they own a brand new luxury car. Anyways great video, we need more young people like you that are not afraid to tell the truth.

@doctornkosi11 2 жыл бұрын

The overdraft story is a conversation that needs to be had. That thing tanks your finances, I learnt the hard way.

@mphotshegofatso1948 2 жыл бұрын

I think I’m only following content that’s realistic, relatable, honest and addresses day to day issues. Instagram life is way passed us. Thank you for sharing! It’s the fact that even amongst close friends and family, these topics are never touched on.

@sir.vumisa5184 2 жыл бұрын

kzfaq.info/get/bejne/gNqEfN12ranIlZ8.html

@l.mtselana9846 2 жыл бұрын

Who else is here from Twitter? 🤣🤣 Ey girl 1st car experiences. Been there, done that. Never again. 👏 Good for you, you learned. Others just don't. They continue on till the debts are deep deep.

@Mimz543 2 жыл бұрын

Praying this video reaches all who need to see it. There’s no shame in downgrading. It takes a looot of maturity to face reality and make tough decisions. ☝️

@senamazubane5255 2 жыл бұрын

Key Take-Aways: 1. Get detail spending analysis, understand where your money is going 2. Set a budget for your month (money) 3. If you already have an asset do not replace it 4. Be smart about credit/overdraft facilities (leverage is good but do not over-extend yourself financially) 5. Be honest with yourself, downgrade when you have to, and get yourself back on track

@khotsomosenye4121 2 жыл бұрын

I almost bought an iPhone 13 on contract and my NSFAS allowance was going to finance the contract. I know it would have been a big mistake and thank you for his video. I know my place now

@moromomathobela1187 Жыл бұрын

🤣🤣🤣🤣🤣🤣🤣🤣 ehhh

@treasurem2491 Жыл бұрын

😭😭😭😭😭😂😂😊😂😂😂😂😂😂😂

@zamo_ma 2 жыл бұрын

Yey, I used to say I won't compromise with the A-class when I start working. But I can imagine, first job, first car, black tax... I definitely need to re-evaluate this thing. Thank you ✨🌸

@dyondzaniksrikhotso2367 2 жыл бұрын

As a student, I always wanted the merc CLA, I ended up with a Kia Rio and I couldn’t be more grateful that I didn’t go for a big car.

@EverHopeful555 2 жыл бұрын

Downgrading is one of the smartest things anyone can do, especially in these Covid days, they taught us a lot, how a lot can change in a split second without any warning!

@inmyview7328 2 жыл бұрын

please give tips about downgrading because I've been thinking about it a lot

@EverHopeful555 2 жыл бұрын

@@inmyview7328 just live within your means, be disciplined and stick to your budget, cut unnecessary spending, get rid of the things that keep you in a chokehold like personal loans, credit cards, everyone’s situation is different, you know what you truly need and what you can do without

@luthomarcianelani 2 жыл бұрын

While it is nice to have a luxury car, people who have money always say buy a small car as your first car. Thanks for sharing your experience because it's all about putting face nowadays and no-one is telling the truth or facing the truth when it comes to affording.

@mpilenhlevilane172 2 жыл бұрын

yeah especially for black people, it's about how people perceive you.

@skobodabaws8946 2 жыл бұрын

Fact! It works wonders!

@teem5945 2 жыл бұрын

I love people who speak like you. I can afford a Merc according to the bank and a bigger townhouse but I bought a car lower than a Merc but has every feature that you can imagine e.g. lane assist. I bought a 2 Bedroom townhouse but I'm able to save R 1000's per month. Pragmatic approach to finances is very good. Of course, I created Excel formulas to manage my weekly expenditure.

@matlhatsemokhabela1103 2 жыл бұрын

May you kindly share the exce template

@shamisomarabwa202 2 жыл бұрын

As a graduate civil engineer in a similar car situation (car bought by dad while I was a student) and contemplating buying a Merc 🙆‍♀️🙈😅. Now I have to reconsider because I was legit on that route. I'm so glad I bumped into this video. *As I keep my Suzuki Celerio 😁😅

@lindelwampilwenhledlamini6348 2 жыл бұрын

Don't lose your first car! 🌼❤️ Especially as a candidate engineer, you will travel alot.

@lindelwampilwenhledlamini6348 2 жыл бұрын

Yho Engineering life requires you to be a financially savvy individual. I really wish I'd known.

@shamisomarabwa202 2 жыл бұрын

@@lindelwampilwenhledlamini6348 right hey... so true. Probably a bakkie of sorts would be a better option given that sites are usually off-road and in rural settings

@ThezoekindofLife 2 жыл бұрын

That's a nice car hey ,keep it and save save save 😀 I wish my parents had gotten me a car in varsity, I'd still be driving it till today which is 10 Years later

@baloyinyikobrian2521 2 жыл бұрын

One of the most important lesson in here is "Never spend your capital trying to impress those who are spending their profit" what a great lesson Miss👌👌👌👌👌

@VIEWMARY001 2 жыл бұрын

I also made huge mistakes. In 2014 when I started my internship at Newcastle, I bought an AUDI S3 @ R550 000. I will live to regret that for the rest of my life. If I had the money knowledge I have now, I would have bought land and got assets to buy me liabilities. So in short, even us doctors it is a mistake to buy those expensive cars. We just see it later in Life 😊

@lovefromdrey 2 жыл бұрын

You paid in cash?😭

@treasurem2491 2 жыл бұрын

How much was your salary?

@SuperDjPrinc3 2 жыл бұрын

@@lovefromdrey obviously

@lovefromdrey 2 жыл бұрын

@@SuperDjPrinc3 wow I’m floored. On a car?

@SuperDjPrinc3 2 жыл бұрын

@@lovefromdrey yea, other people been spending more than that.

@vukilesentane319 2 жыл бұрын

Thank you for that honesty. I personally I have been there, I had to downgrade. Financial literacy is not thought as school therefore we are bound to make mistakes due to our impulses and immaturity. What matters is that; you cut the pride and stay on your lane and stop posing as ingamla whereas you can't sleep at night because iykoloto are chasing you. Cars are just liabilities guys therefore we need to be wise and smart. Dealers and banks will never be your friends all they want is to reap you off. Thank you my sister it takes bravery to come out and talk about these things.

@atleganggovuza6733 2 жыл бұрын

You’re right, posting this was very tough 😅 but necessary 🙏🏾

@meshakeshibantswane4461 2 жыл бұрын

I always say a car is not only the instalment. Its insurance, tyres, maintenance, and everything.

@Tanyalapatrone 2 жыл бұрын

Finally someone talking about the truth

@mpumizulu9235 2 жыл бұрын

Yeyiiiiii ngoba sibaningi Shem

@maphii 2 жыл бұрын

I recently just graduated, and my mom bought me Chevrolet spark, when I had asked for a mini cooper(not that I'm spoilt or anything) and they sat me down and spoke to me about the maintenance of the car is expensive, and that if I want a mini Cooper I should be able to buy it for myself when I start working. I am grateful for this video, because it correlated to everything my parents told me, but I am pretty sure I'm going to keep my things affordable, I need to do everything for myself for myself, travel, own my own property and just do more to upgrade and work on myself, a car won't do that for me. Thank you so much Atlegang, for the bravery too, people look down on these topics.

@matomemodiba8569 2 жыл бұрын

Buying a car currently in South Africa is a financial suicide, you get fucked by interest rates which increases your car installments and cost of living rising through inflatioñ. Most people do not realise the additional costs of buying a car from insurance to petrol price. The fact that petrol prices are never stable every month plus the cost of living is increasing astronomically due to macro economic factors, it really be hurting your pockets.

@ziyandabans674 2 жыл бұрын

What would then be the better route to get a car?

@releM15 2 жыл бұрын

@@ziyandabans674 This one is just criticising without solutions.

@matomemodiba8569 2 жыл бұрын

@Ziyanda Bans and @Relebogile Mothomogolo The best route is that you buy a car in cash full, which you can do if you patiently save and invest a portion of your salary, Otherwise, here is what I believe is the optimal route. If you considering buying a car then first have a look at the second hand car market though be mindful of taking out a loan immediately to purchase because you will go through the same problems as buying a new car, also make sure you have checked how long the car has been used, the kilometers it has, the amount of service it has done and more (this is important as it gives you an insight of what kind of car you are actually buying) . What one has to do is to save and/or invest an amount up to 25%-40% of the value of the car, then take out a loan from a bank for amount remaining with favorable interest rates, as the video suggested do not make any balloon payments. Afterwards you build up a maintenance saving pot based on the information you have of the car. As an example, let's say the second hand car described to you usually experiences brake problems mostly then using that information you can build up a saving pot for them.

@releM15 2 жыл бұрын

@@matomemodiba8569 I will have to disagree with you on the part of purchasing a vehicle cash. You will loose out heavily as the vehicle has no value increments over the usage of whatever period decide to. eg you purchase a Merc at R400k and drive it for a year and decide to sell . The depreciation on it is at R300k which means for a year you have literally lost R100k also you have paid an insurance premium on it and fuel. Worst mistake to make is buy a car cash. 2. I don’t believe in buying vehicles to own unless if it’s a cheapie that you want to have around for a run around. 3 It’s not everyone who will manage to save enough to purchase a vehicle cash. 4. What are the chances of one getting favourable interest rates on a personal loan to pay off a vehicle they “bought cash”?

@matomemodiba8569 2 жыл бұрын

@Relebogile Mothomogolo A car is an asset and it helps with getting one person from A to B at any time. Though a car is an asset that loses value over time, one of the reasons is as you use it more, the parts on the car degrade with time. If you buy it in cash full, then you can choose to take out insurance or not, as the ownership of the car is fully in your name. if you buy a car using a bank loan then the bank might /or require/s you to take out insurance and ownership of the car is still the bank until the loan is paid off. Now if person A and person B buy a car at the same time, with person A paying it cash full and person B take a loan of the full amount of the car. Both of A and B drive it for 3 years and decide to sell it. Person A will sell it and keep the remaining amount for themselves but person B still has to pay the bank the full amount plus interest, therefore the amount person B has gotten from the sale of the car will go into paying the bank first. If the amount received from selling the car not able to pay off the bank loan fully then person B will have to to pay the remainder of the amount even when they do not possess the car. Hence the justification of buying a car in cash in full. The key point is you want to off bank loan as soon as possible (taking into account the external factors such as inflation) reducing the amount of interest you will be paying. The quicker you pay the loan then the smaller interest you pay and the longer you pay the more interest you pay. And if you pay something in cash in full whether an increasing or decreasing asset then it's a big benefit as there is no need to ask for a loan.

@rebonematonsi426 2 жыл бұрын

For a student like me who likes luxuries, I really appreciate this ❤. I'm currently driving polo and I guess I'll stick with it until I feel 100% ready in future. I hope this video rings in my mind for years to come🙏. All the best with your plannings🥳

@mkdempisi 2 жыл бұрын

Omaka when you start affording, you will want a more smoother car 😂 you go back after tastng the struggle

@dawncosmic8080 2 жыл бұрын

What are you studying

@duduhope8177 2 жыл бұрын

What I learned from my rich friends, is that a car is an appliance. Like a toaster or kettle. It is meant to be changed after a while, so it's best not to pour money into that purchase.

@morriswesley7061 2 жыл бұрын

I like how you showed that you dont always make the perfect choice and that's okay. Thank you

@kylekennedy420 2 жыл бұрын

Sharing this will hopefully help many young South Africans understand the trappings of debt to keep up appearances. My first car was handed down to me by my parents while I was busy in uni, a 2005 Nissan SUV. It didn’t look great but it got me everywhere I needed to go while I saved up for something I wanted.

@jeanettmokoena7141 2 жыл бұрын

Totally agree...I’m about to get my first car later this year, a Suzuki swift or Toyota starlet.

@felicia_rm 2 жыл бұрын

Lol you know what, people will still go out of their way to buy an expensive car even when they KNOW they can't afford it. As you grow, you gain intelligence through experience so I guess people need to go through crap to realise their own mistake. Nonetheless, thank you for your honesty.

@atleganggovuza6733 2 жыл бұрын

I agree with this. Sometimes, people WANT to learn through experience. You put it nicely lol ✨

@MissLee-pe2uv 2 жыл бұрын

"Just because you are approved it doesn't mean you afford it " 🙌🙌🙌

@zanelemilanzi1694 2 жыл бұрын

I really learnt something that I'll use in the future thanks , you are wonderful and always stay true to yourself

@YannDyangu 2 жыл бұрын

I have subscribed to your channel just because of this video. So many people go through this and they are ashamed to admit when the finances don't allow them to have a certain lifestyle anymore. Instead, they take on more debts just to keep appearances. thank you for sharing your experience and I hope many will learn from it.

@MapaloMakhu 2 жыл бұрын

Love love this: There is NO shame in downgrading and realizing something is out of your affordability. Kudos to you Atlegang.

@gapegobuiwang9177 2 жыл бұрын

It's not just anyone who can publicly admit their mistakes, we all want to live soft but hey when the soft life is stealing your peace it's no longer soft. I'm proud I stumbled upon this video ❤️ Thank you Atlega, you are going to go places hun😘

@WalterMashishi 2 жыл бұрын

I wonder what is going through the minds of people disliking this video. This is ,in my humble opinion, one of the most honest conversation that shouldn't be shied away from. Not some fake Instagram life. Young professionals can learn a lot and shouldn't feel pressured to make their "arrival" felt as you will be facing those high maintenance costs alone.

@marymokone 2 жыл бұрын

Lol I felt that “stay away from overdraft” Yay! Being intentional about finances and knowing what you want it’s important. It’s not easy mara eventually we get there and learn the lessons

@marymokone 2 жыл бұрын

@Sobkou there’s not enough financial literacy unfortunately we learn through our mistakes but what’s important is awareness and you are aware! Good luck in your financial freedom

@princessbiyela672 2 жыл бұрын

I love your honesty, thank you for sharing, I have financial lessons for days, I also learnt the hard way but I'm glad it happened I have grown from it. We need basic financial literacy at schools. Adulting is not easy.

@atleganggovuza6733 2 жыл бұрын

Learning the hard way is tough but valuable. Thanks for watching 🥲🙏🏾

@MsKay287 2 жыл бұрын

Everyone buying or about to buy their first car needs to watch this video

@swazi4769 2 жыл бұрын

First time watching this channel and you are talking about one of the things close to my heart. I'm glad you realized, acknowledge and did better in your financial decisions. There is nothing bad in starting over or what they would call a down grade. Let's do better and teach those coming after us. Sometimes we fall into the debt trap because we are trying to build a credit file in order to qualify for those cars and houses. So financial literacy is very important and the sooner we share this, the better. You can earn or have millions of Rands, but if you can't use it well, you are considered poor. Let's do better guys and let's start building wealth for generations to come.

@atleganggovuza6733 2 жыл бұрын

So much wisdom here 🥲 thank you 🙏🏾🌸

@mashotoledwaba1125 2 жыл бұрын

I sold my car at the end of last year because of working from home and moving to CPT, where I knew I wouldn’t need it. But I remember how long it took to make that decision because of the usual societal pressures. I’m so glad I did because I now save more and have a better quality of life (travel etc). As soon as you do not consider others opinions, when making big financial decisions. You relieve yourself of SOoo much pressure and are bound for true financial freedom.

@Lerato_Mo 2 жыл бұрын

Loved loved this. I felt like I was in a conversation with my sister getting a lecture in a way. As a young adult who is starting out in her career I have learned a lot from this video and I am so obsessed with financial literacy that people think I’m a bit mad but I know it’s for my own good. I loved this and God will bless you with your jeep❤️

@atleganggovuza6733 2 жыл бұрын

I love this 🥲🌸 thanks sis 🙏🏾

@1ndz3980 2 жыл бұрын

I think a lot of people will benefit from this mindset. South Africans love living beyond their means. Thank for sharing

@PhemeloThobei 2 жыл бұрын

Financial wisdom is important 👌, thank you for being so honest Atli

@reabetswetshetlo4188 2 жыл бұрын

It’s hard to stay in your lane in this generation. You’ll be doing things soooo right and watch your peers not give a damn. Then start asking yourself, kanti why am I so responsible. Like all we see is the luxury living but this video really encourages one to continue staying in thy lane. Thank you ❤️

@LungisileHadebe 2 жыл бұрын

Yhu nami I got a Merc and overdraft😂😂 I had to go back home and I luckily could keep the car (managed to pay it off) and my finances are only improving manje 🥺🥺 Im glad we learned our lessons kwa manje I don’t even want a credit card 🤣

@atleganggovuza6733 2 жыл бұрын

Yes. All that matters is the lesson learnt 🥲🌸

@marien9585 8 ай бұрын

Thanks for the honesty and sharing... I also went through the same and most people are still going through this . We live and learn ❤

@roishwahjacobus6255 2 жыл бұрын

Thank you for opening our eyes This is actually very important... because when you get your first salary you feel like you're on top of the world and then do things that are not necessary .

@atleganggovuza6733 2 жыл бұрын

So true. Learnt the hard way but I’m much wiser now 🙏🏾🌸

@Biz_Lwara 2 жыл бұрын

this has been an eye opener for a lot of us, we sometimes get carried away by these items as we "can afford the" these things have so many hidden costs that make it very difficult to maintain and the pressure that comes with downgrading your life and what will people say, thank you for this video hopefully we all learn from this.

@mahlatseorsmond8321 2 жыл бұрын

We don't have to go through everything in life, instead we can learn from experienced people like you who made mistakes before. Thank you for this video ❤👏

@nthabisengkulate5102 2 жыл бұрын

Listen, you're gonna get that Jeep❤ Thoroughly enjoyed this video Atli 🌸

@atleganggovuza6733 2 жыл бұрын

Thank you, I really receive this 🥲🙏🏾🌸

@mbalintobela4060 2 жыл бұрын

Overdraft is the devil I will NEVER go near it again 🙈 vicious never ending cycle. Congrats on making the best financial decisions for yourself ❤️ enjoyed your video

@atleganggovuza6733 2 жыл бұрын

Yoh! Same 🤞🏽 never ever! Thank you Mbali 🥲🌸

@unathikave548 2 жыл бұрын

An overdraft is better than a credit card in my personal opinion. The issue is not knowing how to use an overdraft. If you have a financial emergency and take an overdraft, the easiest way to pay it off is to put it on reduce and set a monthly installment. Pay it off in that way and the interest on it reduces faster than a credit card and its easy to pay off when you had a plan and purpose at a lower interest rate than a personal loan or credit card. But hey if you can afford to actually not use a credit facility thats even better.

@porcupinekay1127 2 жыл бұрын

What is overdraft?

@dumisanid8733 2 жыл бұрын

We earned decent salaries as fresh grads at one of the banks. I bought a car worth R95k then I was the laughing stock amongst my colleagues. Black people have not suffered enough, we still fall for debt-traps just to flex with liabilities.

@Makungu3015 2 жыл бұрын

It doesn’t matter what people say those same people will never even help pay for petrol. I am proud of you 👏🏾

@noxible 2 жыл бұрын

" flex with liabilities " I felt that

@KeketsoN01 2 жыл бұрын

And white people will drive a cheap bakkie when they have a mamith net worth

@Joseph-rx1do 2 жыл бұрын

I don’t who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability.

@Joseph-rx1do 2 жыл бұрын

Invest globally in bitcoin, gold, silver, forex market, drop shipping and all other commodities . Just don't be left out and save yourself.

@idris8498 2 жыл бұрын

Good talk I tell that to my friends everyday. Saving is good investing is much better, I used to think saving would save me but NO, saving is just keeping to spend later.

@nicollete5447 2 жыл бұрын

@@Joseph-rx1do What if you don’t know how to trade any of these?

@Andre-wl8ck 2 жыл бұрын

@@nicollete5447 I mean.... I see your point. Some people have money and are willing to invest but the problem is where to.

@Michael-gd8xj 2 жыл бұрын

@@nicollete5447 This is 2021 People who aren’t even traders makes money from stocks, crypto and forex market.

@blackgirldiary2363 2 жыл бұрын

Savings+investments (including retirement)= paying yourself first😄! I’m currently living on only 45% of my salary and I’m grateful for the privilege of having the option to live below my means and I encourage others to consider living like this if possible! It’s awesome having a huge chuck of your money at month-end all to yourself and as opposed to creditors😄!!! Thank you for sharing your story so we can all learn how to be smarter with our finances!

@11560238 2 жыл бұрын

Very impressive 👏

@cl499 2 жыл бұрын

Invest the money

@blackgirldiary2363 2 жыл бұрын

@@cl499 Yes that’s what I do😄 And more of course!

@pheladim1678 2 жыл бұрын

I live on 25% of my salary and the rest has been scattered in savings and investment accounts.I am so happy and sleep peacefully. I still live my best life with my 25% salary I give myself each month.I block all noises that ask me so many questions about cars and houses.I have a plan and I stick to that plan.We all are walking in our lane and it’s important to stick to it.

@blackgirldiary2363 2 жыл бұрын

@@pheladim1678 Wow you are #goals🥳😂!!! You hit the nail on the head as far as being in your lane. And I think being committed to the plan helps to block out the noise! Keep on winning 😄

@mpumeleloenhlemokwena6 2 жыл бұрын

This video was so insightful. So much Wisdom we learn from our mistakes. Thank you for sharing your experience

@atleganggovuza6733 2 жыл бұрын

You’re welcome 😉

@thabolephoto4753 2 жыл бұрын

You chose your mental health over everything else, and that takes a lot of strength to do. I respect you so much!

@tshegofatsomolefe1187 2 жыл бұрын

Wow, Atlegang! Thank you for this! 👏🏾

@atleganggovuza6733 2 жыл бұрын

You’re welcome 🥲

@bongiwemasoka 2 жыл бұрын

My 1st car was a Getz bought it cash in 2012, 2016 I upgraded to a Renault Clio and sold my Getz which was perfectly fine. I regret having to have entered into an installment contract I'm almost done paying the Clio and I've decided I'll only upgrade the day it dies. Installments, loans, credit cards are a trap. Great content 👌

@nyelimane 2 жыл бұрын

Came across this video wow, its on point. Had the same experience with a Ford Ranger xls. Yes I was making money with it but God the maintenance, I just could not keep up. Every loan or debt that I have accumulated was literally on that Ranger. I am just glad was able to get rid of it

@JNM834 2 жыл бұрын

Financial literacy is very much important. I wish I was financially literate when I started working back in 2007. It is so sad that we get to learn about things financial when it's late😢😢😢😢.

@user-ng7yc3ku3x 2 жыл бұрын

I'm gonna start working next year & I needed to hear this message about not doing things prematurely. Thank you 💕 Also, this makeup mam 🔥

@atleganggovuza6733 2 жыл бұрын

You’re welcome and thank you 🙏🏾🥲🌸

@nompumelelohlakula1114 2 жыл бұрын

🥰make up yah....hitto hitto hitto.......

@SeanHuni 2 жыл бұрын

I've been driving a Ford Fiesta (2005) for 11 years, even when I was earning 115k pm. Now, I'm a Pro-Skydiver & I recently bought a Golf R 7.5 Decisions & Big Paychecks...

@sizwea.1293 2 жыл бұрын

For us going into the work space next year. This will serve a great purpose, immensely helpful! You won't even believe the financial institutions are already reaching out to provide overdrafts and all 😄Thank you for the content. Love it. Subscribed, let's go Atli!

@atleganggovuza6733 2 жыл бұрын

All the best my brother 🥲🙏🏾

@tumim8271 2 жыл бұрын

Bro the time I stopped thinking about what others think about me I found a healing. People never talk about such things, mine will be paid up next year, I know ima keep it and breathe 🧘🏾‍♂️ from paying debts. now I don’t even wanna buy a house anymore renting suits me I’m a traveller and I’m a childfree kinda guy I just wanna have fun and travel the world staying in one place won’t work for me. I also like changing work places so buying a house will give me stress, maintenance and rates crazy. It’s time now people do what suits them. Create your own future and walk the path. This video deserves more views.

@phutimadibana8983 2 жыл бұрын

True. Buying a house is not always an investment because soon you are changing jobs & most times won't even find tenants for your house. Rather invest for retirement & buy cash when you retire

@tumim8271 2 жыл бұрын

@@phutimadibana8983 That's me right now i mean i'm not planning to have kids in this life time so investing for Retirement so that i can retire in style is my thing. however i'm not telling other people to do the same this way suit me but might not suit others.

@ScissorN 2 жыл бұрын

Sho i think you are my soulmate 🥺

@AndiswaMojapelo 2 жыл бұрын

Big ups to you for being so open to sharing your experiences. 👏🏾 I have 2 videos on buying your first car on my channel that highlight what to look out for and the importance of preparing your money and mind first. The importance of Financial Literacy can't be stressed enough especially in the early stages of a professional's life. Everyone is focused on making money and not enough effort is put towards managing it which is equally as important. You made the right choice! 💯

@atleganggovuza6733 2 жыл бұрын

Subscribed and will definitely check them out 😊 Thank you for your wise advice 🌸🙏🏾

@AndiswaMojapelo 2 жыл бұрын

@@atleganggovuza6733 it's a pity I can't heart your comment, thank you so much. ❤ PS : I watched atleast 4 of your videos after subscribing yesterday. 😂

@shamisomarabwa202 2 жыл бұрын

Subscribed 😊

@AndiswaMojapelo 2 жыл бұрын

Thank you and Welcome onboard @@shamisomarabwa202 🌻🤗

@Luthando_Mavundla 2 жыл бұрын

I really enjoyed watching this video, Atli I've learned alot and I really have a saving problem🤦🏽‍♀️

@atleganggovuza6733 2 жыл бұрын

Same here but you have to start somewhere

@NdapandaEK 4 ай бұрын

As someone who is planning to buy their first car. I thank God, i stumbled upon this 😢

@ashgovender2279 2 жыл бұрын

I owned a nice car as well, which I sold for financial reasons as well. Absolutely don't regret it. I'm glad more people are talking about these things.

@barbaraseakatsie 2 жыл бұрын

Thank you for your insight♥️I agree most of us lack financial literacy.. It mostly starts with students taking clothing credits while at varsity… I remember most of my varsity friends had range and edgars accounts… which amazed me on how they could afford them. Another thing that pushes people to buy things they are not prepared for is the pressure they get from home or their community (to show off ukuth’ ufikile”) I’ve been working for over 5 years and only bought my car last year (saved up for it for a full year, the best decision I ever made, the only thing I pay is insurance, fuel), I think what saved me from buying a car earlier was fixing and renovating at home. I’m glad you learned from your mistakes ♥️ and hoping we all make informed decisions always.

@growwithmapsy8326 2 жыл бұрын

This is insightful, thank you for the transparency.

@atleganggovuza6733 2 жыл бұрын

You’re welcome 🥲

@The-truth-about-the-truth 2 жыл бұрын

Thank you for your honesty. I'm so happy I ran into this video. It came at the right time for me. I recently got out of debt counseling and paid off all my debts. I've never felt so much better about myself. I want to make better financial decisions. I'm going to take down all the tips you gave here. You've earned yourself a new subby. 😀

@omakeketa7408 2 жыл бұрын

Love your video. All of that is so true. I'm in a process of downgrading. Have been since late last year. The more financially mature I got the more I realized that some of the costs I had were so unnecessary and was just a waste of money. So I cut off alot of things to make room for the important things. And early this year I bought my first investment apartment that is currently paying for itself and moved to a much cheaper rental unit. Now I'm focusing on paying off my remaining debts. There is no shame in downgrading shem.You will thank yourself when the decisions to downgrade are paying off.

@boipeloloeto145 2 жыл бұрын

It might not be about wanting to be seen in these cars, it might be about you and how it makes you feel, your dream car but reality be that your financial standing does not align with that dream. Are you able to pay for the car and insurance? Yes. Do you have enough money to maintain that car should any breakdown happen after you responsible in paying your premiums? That’s where the problem starts. We tend to go for cars that take up more than 50% of our earnings monthly not including petrol/diesel and having to downgrade is a mission, people aside. We want to be comfortable in the one thing that gives us overall Discomfort. Thank you for this episode.

@ladykingsrey3977 2 жыл бұрын

You are in the YT algorithm, so I subscribed...I enjoy when people build up the courage to speak their truth...thank you for sharing I am looking forward to more content

@letshegosebego7682 2 жыл бұрын

This video and the comments are everything I didn’t know I need as a young professional 🤲🏾

@mbalimlangeni7712 2 жыл бұрын

Excellent advise ... when i thought of getting the car was the first option I thought of was a car is a liability I can save up a year and but a second hand car. Which I did so im so glad I did that cause family and friends kept saying buy a new car usemncane. I'm a freelancer now i don't have any debit orders except for my wifi and a credit card that i took a grand only .

@nwakhubayi 2 жыл бұрын

Wow, Thank you for this video. I used to climb taxis while saving for my car , very uncomfortable, walking long distance from bus stop to home in rain/sun . Mara I knew that when I buy a car it’s gonna be cash . When I saved a reasonable money I went to a dealership and bought my car . No instalments Just car insurance and petrol which I am still complaining about lol . Thank you so much for this 🤗💐

@atleganggovuza6733 2 жыл бұрын

Well done, this is amazing 🙌🏽🥲

@natasha_mulusa 2 жыл бұрын

I honestly love your open-ness and your genuineness. Such content is so fruitful!❣️

@atleganggovuza6733 2 жыл бұрын

Very welcome 🥲🌸

@nomcebokhumalo9975 2 жыл бұрын

Thank you so much for sharing such information with the youth of today.No one ever shares realistic information about living within your means.You have helped so many youth out there with your experience thank you so much hun we love you.

@atleganggovuza6733 2 жыл бұрын

Thank you Nomcebo 🥲🌸

@khulanimabaso7835 2 жыл бұрын

Thanks for the advice, you're such a good story teller and I won't lie I still had that mentality you had in 2015 but thanks for enlightening me. I pray I make a smarter decision in the cause it easier said than done✌️

@Tubi_P 2 жыл бұрын

First of all thank you so much for being real with us, I for one needed to hear this so much. I think I can relate with the car thing because 4 years later I’m still driving the little Toyota that my parents bought for me when I was still in PTA. Truth be told, the pressure I felt to get I luxury car when I first got permanent was too much but it did not make financial sense at all. Also the credit card thing yoh😭 I really need every young person to watch this because I’m sure most of relate. Thank you again for this video.

@atleganggovuza6733 2 жыл бұрын

Pleasure Tubi 🥲❤️🙏🏾 thanks for being back here again

@fanelentathungobese8580 2 жыл бұрын

This was very insightful! Thank you. On the bright side, at least you can say you owned a Merc😎

@leratogao2267 2 жыл бұрын

Yoooo Atli nna after studying insolvency law I've always been scared to live beyond my means....i think gape people put us under pressure because we are professionals ntoni ntoni😏 awesome vedio 😍

@atleganggovuza6733 2 жыл бұрын

At least you learnt it after reading a book. Rena? 🤣 Thank you Lerato 🥲🌸

@leratogao2267 2 жыл бұрын

@@atleganggovuza6733 we all learn hun...m glad you sorted it out and good thing you helping others wabona

@jeanettmorobe7894 2 жыл бұрын

You definitely are going to get that Jeep Sis. You have learned your lesson and I trust that you will plan accordingly for it. Im rooting for you. And thank you soo much for this insightful information. You look gorgeous 🥰🥰🥰❤️❤️❤️

@zamanguninxumalo6014 2 жыл бұрын

Just transferred my savings for the month to my savings accounts while watching this! I was really contemplating chawing it, thank you for making this video. this was an eye opener. thank you babes.

@LandrySubira 7 ай бұрын

this is great. correct mistakes and move. people don’t remember for long.

@thobasiziba4109 2 жыл бұрын

Starting over will never be scary because you will never start from scratch...bow theres experience. Well done for not keeping up the facade

@lazisolutions3417 2 жыл бұрын

Big up sis...very inspiring. Pride n living for people is killing our brothers and sisters.i appreciate u

@zamangubane1900 2 жыл бұрын

Love this video. Thank you for your honesty and transparency. The day we get over "abantu bazothini" syndrome, we'll progress faster

@atleganggovuza6733 2 жыл бұрын

🥲💯🤞🏽

@lesedi_june_ 2 жыл бұрын

Best advice ever ma'am made me feel soo much better

@mrs_vee95 2 жыл бұрын

i just bump into this video today but the authenticity and honest in this, i subscribed shem. I respect you girl

@mokuaretang7155 2 жыл бұрын

I clicked subscribe after this because this was very informative, the honesty. We learn as we grow.

@sibusisogama4198 2 жыл бұрын

Sister Girl we are proud of you 👏🏾👏🏾👏🏾👏🏾, you’ve helped a lot of people including me. I regret buying a 330D but am planning on settling it. I regret taking a credit card and overdraft but will settle them soon and close them and no more. Everything will be cash from now on

@LifeWithYolly 2 жыл бұрын

I respect you for speaking about such. I'm so passionate about honest conversations that we need to have so others don't make the same mistakes. I shared a similar video regarding credit cards and accounts.

@leratoranamane9529 2 жыл бұрын

This was very informative 💯 Thank you for the transparency ❤️🌟

@atleganggovuza6733 2 жыл бұрын

You’re welcome 🥲

@busishauntelle 2 жыл бұрын

I love this !!!!! I’m teaching in Korea and I know people will expect me to pop up with an expensive car just because I teach here but I’m most definitely not !!! I’m ready for my Kia Rio 🤣😅😅😅 Anyway this is great content 👏🏾😀❤️

@porcupinekay1127 2 жыл бұрын

Can we please be whatsap friends?