MyMoney Online

Can you survive your own personal Brexit?

What's Brexit all about?

It’s all about economic independence. Britain being able to sustain a standard of living for all citizens on it’s own without depending on the European Union. It boils down to Britain being able to grow (GDP) on it’s own which will enable it to generate enough income (revenue) to cover costs (expenditure) and improve the standard of living of its people.

Click on the audio below to hear Paul's chat with Sam and Africa then carry on reading!

The big question you should ask yourself

Closer to home, Brexit brings to mind a number of pertinent questions... To what extent can you financially stand on your own two feet? How dependant are you on the bank and other money lenders? If there is a financial crisis will you need family and friends to bail you out?

Currently 47% of South Africans at 65 are financially dependent on family.

The way forward to your own financial independence is to have a plan that ensures you have sufficient funds in place to maintain your standard of living no matter what life changing event comes your way.

The journey to financial independence can be a tough one as you need to compromise at times. If your expenses are too high then you need to adjust your standard of living. The Brits will probably have to do this in the short term as they find out where their economy will eventually settle. From that level they can then make a plan for growth, working on key aspects of their own economy.

So what's your vote?

We all have a vote in our own lives which we can take. Go it alone and become financially independent or depend on others for the rest of our lives.

How to do it is no mystery? Finding the will to do it and then committing yourself is the what it takes. The Brits have taken the decision. Good luck to them as they embark on a journey to establishing their own financial independence.

Read more from Paul Roelofse at www.investforlife.co.za


Recommended

by NEWSROOM AI
Read More
Best share on the JSE to buy, right now, and 2 from abroad (by Luthuli Capital)

Best share on the JSE to buy, right now, and 2 from abroad (by Luthuli Capital)

The Money Show’s Bruce Whitfield interviews Luthuli Capital’s Mduduzi Luthuli.

Does your Tax Free Savings Account suck? You’re not stuck! How to transfer…

Does your Tax Free Savings Account suck? You’re not stuck! How to transfer…

How to – quickly and easily – transfer in or out of an existing Tax Free Savings Account, for whatever reason.

Got a bad spending habit? Enter Money Rehab (don’t say ‘no, no, no!’)

Got a bad spending habit? Enter Money Rehab (don’t say ‘no, no, no!’)

Want to live a less stressed, financially secure life? Old Mutual’s John Manyike has tips to help you kick your spending habit.

Tips and tricks to save on insurance (and general info about it)

Tips and tricks to save on insurance (and general info about it)

The Money Show’s Bruce Whitfield interviews Old Mutual Head of Financial Education John Manyike.

3 best shares to buy before the end of March (by Nitrogen Fund Managers)

3 best shares to buy before the end of March (by Nitrogen Fund Managers)

It’s stock pick time on The Money Show! Bruce Whitfield interviews Rowan Williams, Director at Nitrogen Fund Managers.

3 best buys on the JSE, right now (by Cartesian Capital)

3 best buys on the JSE, right now (by Cartesian Capital)

It’s stock pick time on The Money Show! Bruce Whitfield interviews Cartesian Capital CEO Anthea Gardner.

Popular articles
Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

WATCH: The EFF has scored an own goal says Eusebius

WATCH: The EFF has scored an own goal says Eusebius

Eusebius McKaiser questions the party's use of vandalism during weekend demonstrations at H&M.

I was not introduced to Ajay Gupta - Grootes

I was not introduced to Ajay Gupta - Grootes

Stephen Grootes says he believes former Eskom CEO Brian Dames when said he was not formally introduced to the Gupta family.

Vavi: I can't sleep at night for making Zuma the president

Vavi: I can't sleep at night for making Zuma the president

Zwelinzima Vavi says South Africa is paying dearly for choices they've made in being angry with Mbeki and not thinking logically.

Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

WATCH: Zuma denies crisis at Sassa, won't evaluate isiphithiphithi (chaos)

WATCH: Zuma denies crisis at Sassa, won't evaluate isiphithiphithi (chaos)

Zuma says he cannot be expected to act against Minister Bathabile Dlamini on social grants matter now before the ConCourt.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...