Hi all!
I popped a question on this sub about 2ish years ago after I inherited about R100k at 18, asking for advice on how to utilise that money. Much to my surprise, R100k doesn’t go very far in this economy, especially when you’re young and dumb lol. However, I maintained then what I still maintain now, I don’t want to end up in the same kind of poverty my parents found themselves in and are still paying the consequences for.
I now work two part time jobs, study full time at a private college (out of necessity not choice, trust me, these fees are chipping away at my sanity) and I’m in the process of paying off the loans I took out to cover my fees for the last two years. I don’t receive any financial support from my mom/family. I’ve still got another 2 years of studying ahead of me (yay law!). I often feel overwhelmed when it comes to finances because I feel like I’m making enough to barely cover all my expenses, and if there is a little left at the end of the month, I spend it mindlessly. I feel like I should be thinking about the future, like saving for a house or retirement etc. but I simply don’t know where to begin. Should I just focus on paying off my debt? Should I take on another job to increase my income and pay my debt off and also put money aside for a house/retirement? There’s a lot of advice on social media but most of it, I find, is catered towards foreign countries/economies. If you were in my position, what would your game plan be? Thanks!!
I popped a question on this sub about 2ish years ago after I inherited about R100k at 18, asking for advice on how to utilise that money. Much to my surprise, R100k doesn’t go very far in this economy, especially when you’re young and dumb lol. However, I maintained then what I still maintain now, I don’t want to end up in the same kind of poverty my parents found themselves in and are still paying the consequences for.
I now work two part time jobs, study full time at a private college (out of necessity not choice, trust me, these fees are chipping away at my sanity) and I’m in the process of paying off the loans I took out to cover my fees for the last two years. I don’t receive any financial support from my mom/family. I’ve still got another 2 years of studying ahead of me (yay law!). I often feel overwhelmed when it comes to finances because I feel like I’m making enough to barely cover all my expenses, and if there is a little left at the end of the month, I spend it mindlessly. I feel like I should be thinking about the future, like saving for a house or retirement etc. but I simply don’t know where to begin. Should I just focus on paying off my debt? Should I take on another job to increase my income and pay my debt off and also put money aside for a house/retirement? There’s a lot of advice on social media but most of it, I find, is catered towards foreign countries/economies. If you were in my position, what would your game plan be? Thanks!!