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'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?
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.
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.
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
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👌🏾❣️👌🏾
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 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🙌
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
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
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.
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....
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).
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. 😭
Family will make you feel quilty for saying no, with valid reasons even. They'll go as far as saying but I also did this for you, why can't you do it for your younger sibling. How? Why should I pay for the sake of paying?
@@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
But Mapalo in the case of your car why wouldn't you claim from your car insurance. Andithi that's the reason you are paying it every month? Or was it a case of Excess, costing more than the damage itself?
My friend claimed in a period of 3 months for small stuff on 2 cars. After a couple of years she bought a newer model & her premium had almost doubled cause the industry had branded her " high risk" even her excess was higher. Insurance is the pits.
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
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.
👏🏾👏🏾👏🏾
Bought my first house at 27, my friends still out here driving mercedes and impressing ladies.
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?
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 💯
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.
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 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
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.
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
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👌🏾❣️👌🏾
We need more S.A content like this 🧠
Just started adulting , thank you.
"There is nothing special about you" straight up killed me. Girl out here spitting facts that we need to hear 👏
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.
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
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
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?
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
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
This was so spot on! Learning to break the cycle
Stumbled on this channel and I am loving it. Thank you Mpho
I’m not even middle class but I have found myself trapped someway in the sbwl
very very informative , needed this wakeup call.
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. 👏👏👏
Tip 4 resonates a lot with me? Can you please share more insight on investing?
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🙌
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 cant wait to be in a position to be able to have emergency fund, i learnt the hard not to have emergency fund.
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
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.
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 😭
Bathong content aside. You are so gorgeous hle.
Shes glowing honey...Am also staring😍👌
Thank you for this Video speaking about what really keeps us as middle class to not achieve our goals 🙌
Your background is everything, thixo 🙌🏿
I often find my trapped by that one friend who will ask ask me to help him out cash every month.
Excellent tips as always!
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....
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 🙌❤️🙌
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 👏
I love the “ke nna” part! That’s what I do on my channel! Wow 🤩
🤗❤️❤️
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).
Thank you for these tips!Love your voice
I'm learning to say no now, and it's a very painful process.
Very informative. Thanks sis
I need to get a hold of your book !! Am in Namibia
Hi I'm new subscribe fan
Being inspired by you.
Love love love love 😍
I’ve got my eye on you….. you literally got me captivated…❤️❤️❤️ your vid
This was very helpful, thank you for the tips..
When it comes to crypto, people need to do proper research. There are people doing scams but it’s a legit system
Paying off my fees, my emergency fund is not healthy
I get that we should invest, but where?in what??
Thanks sis this is helpful 👌🏾
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
You are so original I love this, but I really need your advice
I cant wait to buy your book♥️
I love your content. I think we need a second book
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. 😭
Family will make you feel quilty for saying no, with valid reasons even. They'll go as far as saying but I also did this for you, why can't you do it for your younger sibling. How? Why should I pay for the sake of paying?
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
The only financial trap for me is joblessness
I need to throw away my credit card
Nice level minded advice! Thank you
Almost all the above especially the fam one 🙉🙉
where can I investing maam
I am a student and I am currently studying without funding. I want to invest my last years savings
I have a question though, if one has already fallen in these traps how do we come out?
So helpful ❤
What about girlfriend allowance it's also considered as black tax
Your advice is amazing👌🏻
Great content! Thank you
where should we invest?
What do you do for a living,?
Any books tips or movie.
How do you invest and where
I’m in the struggling to invest rut😭
You are amazing just what i wanted to hear
Bài hit làm mưa làm gió một thời của chị Bảo Thy. Cám ơn Đức Phúc mang nó trở lại với màu sắc mới ❤️❤️❤️❤️
Ousi Mapalo which car is this needing 8K for a light? Rona re ganna di Picanto hle 😂💡 Thanks for the vid ❤️
You share platforms you can invest even with small amounts of money, thanks in advance
But Mapalo in the case of your car why wouldn't you claim from your car insurance. Andithi that's the reason you are paying it every month? Or was it a case of Excess, costing more than the damage itself?
My friend claimed in a period of 3 months for small stuff on 2 cars. After a couple of years she bought a newer model & her premium had almost doubled cause the industry had branded her " high risk" even her excess was higher. Insurance is the pits.
What accounts or products return us compound interest?
This is such a good video
Speaking from experience
She is right on !!🇨🇦👍
Amazing video!!!!!!
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
Should it not apply to all financial income "classes"? What makes the middle class so special?
Because the middle class is so few it should be called the upper middle class in this country as the vast majority is below middle class
The last one is big one for me 😭😩
Ponzi Schemes are very profitable if you pull out at the right time and are not greedy. lol. usually, they have very high returns.
where do you put your emergency fund money
All but family tax. I'm working to fix all that though.
Not Konka and Aurum catching smoke😂😅
Such a good video. New Subbie:)
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