There are a whole bunch of audacious, really fun things you could be doing with your money, says Sam Beckbessinger, author of Manage Your Money Like a F*cking Grownup.
Like buying a private island in the Caribbean.
But we assume we can never afford these things, so we limit our ambitions.
Maybe we daydream about buying a better car but assume that to buy a private island, you'd have to win the lotto.
Well, fun fact:
If you sell your expensive car and buy a cheaper one, and invest R2000 a month into the JSE Top 40, you will be able to afford to buy TWO private islands over your lifetime.
No, for real.
Beckbessinger has done the maths.
They chatted about how spending less money every month on the boring stuff like your car can allow you to do outrageous and courageous stuff with your money.
Because compound interest is magic.
For more detail listen to the interview in the audio below (and/or scroll down for quotes from it).
This gorgeous island costs R3 million… it’s a lot of money, but it’s not Richard Branson money…— Sam Beckbessinger
If you spend R4000 a month on your car… trade it in for one that costs R2000 a month… invest the difference… it’s likely to grow to R6 million over your working life… Which means you could have two private islands if you wanted to!— Sam Beckbessinger
Car salesmen use every trick in the book to make you think you can afford it… if you can pay off a R400 000 car over five years, you can just as easily pay off a R400 000 flat.— Sam Beckbessinger
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield asks investment analyst Nolwandle Mthombeni to share her stock picks of the week.
It was shocking and astonishing to hear the President talk about such a high figure, says Financial Times reporter Tom Wilson.
Outlawed and stigmatised for 90 years; dagga-products are making their way into pharmacies across the country.
It’s better to start late than never! The Money Show’s Bruce Whitfield interviews Jeanette Marais.
Loans sharks are having a field day and there's an organised crime element, says personal finance journalist Maya Fischer-French.
You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.
Mayor of Ekurhuleni spokesperson Phakamile Mbengashe says they have deployed two mobile clinics to the area.
Action in Autism chairperson Liza Aziz says the lockdown has been very difficult for people with the disorder.
The founders of Love Legacy Dignity guide listeners on how to process grief in light of the coronavirus mortality.
The South African Federation of Trade Unions general secretary says he had a light cough on Saturday, was sweating and fatigued.
Supervisor for credit provider compliance at the NCR Theodore Smith explains how the cover works.
SAA spokesperson Tlali Tlali says if people don't have a return ticket they must contact their respective embassies.
The metro's communication general manager, Qondile Khedama, says families will be advised on how to handle the bodies.
Cindy Poluta's expert panel recount their experiences and share advice on how to navigate mental wellbeing at this time..
BBC gender and identity correspondent Megha Mohan highlights different measures aimed at helping those in need during this time.
The ATM's are available in parts of Johannesburg and the Mangaung district.