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
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