Seventy percent of South Africa’s middle-class is suffering from financial stress.
This is according to Sanlam’s 2017 Benchmark survey.
The five most significant sources of financial stress are:
Short term debt obligations (car, personal loans, credit cards, etc.)
Not saving for the future
No emergency funds
Family financial obligations
- Education costs of school or university
All of these issues relate to planning, and how to save and invest your money.
Ingram discussed the following three steps you can take to rid yourself of financial stress and achieve financial freedom:
Get rid of bad debts
Build an emergency fund
- Create an investment portfolio to cover your lifestyle costs.
For more detail; listen to the interview in the audio below (and/or scroll down for quotes from it).
The middleclass is a stabiliser.— Warren Ingram, Galileo Capital Financial Advisor
The new-South African miracle is dying.— Warren Ingram, Galileo Capital Financial Advisor
Growth is how you solve this problem.— Warren Ingram, Galileo Capital Financial Advisor
You may want to use your emergency fund to clear expensive short-term debt.— Warren Ingram, Galileo Capital Financial Advisor
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
With the political climate as volatile and rife, the US might not be the best country to keep your overseas capital.
Warren Ingram explains why it is that women clearly outperform men.
The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.
Do you know what you’re paying, and how much you should be? Personal financial advisor Warren Ingram explains…
Bruce Whitfield interviews super-saver Julia and her advisor Warren Ingram. Is she keeping it up? Because life (and kids!) happen…
Listeners of Bruce Whitfield’s The Money Show may be familiar with Julia, the savings superhero. There’s been “developments”…
Dr Khoza is admired by South Africans for her role in the SABC inquiry as a ANC member of parliament.
Interested in sexting but worried about the risks? Dr Eve has created a guideline to help you 'sext' in a fun and responsible way.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
Makhabane says Ncwane was feeling weak yesterday and his wife phoned paramedics to check on him.
The EFF lawyer stole the show during the state capture report court battle.
Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?