offering debt counselling to his clients
and referring them to in-house financial
planners. “Soccer stars are the worst
culprits when it comes to this. They literally
ask what people would say if they don’t
drive the same – or better – car than the
guy in the rival team. I do my best, but it’s
heartbreaking how entrenched this self-
destructive thinking is,” he says.
The biggest reason for people to fall
into this trap is pressure — from family,
peers, friends, lover or even oneself, says
Mashile. “When you find yourself under such
pressure, you need to take a step back and
look at where it stems from. You then need
to create a financial blueprint for yourself
that will help you make wise financial
decisions. With a financial blueprint, you
will not be swayed by pressure. Yes, life will
not go strictly according to your plan, but
you must have a plan — a clear direction
to help you channel your finances. Have a
purpose-driven financial decision-making
matrix where you’re able to know that the
decisions you make will urge you closer to
your goals,” Mashile adds. ■FINANCE
WWW.TRUELOVE.CO.ZA (^) |^2019 OCTOBER (^) | (^79)
IMAGE Gallo Images/Getty Images
DROWNINGFINANCIALLY?
Thesefivestrategieswillhelpyouconqueryourfearsofdowngrading:
Springcleanyourlife.Whenlastdidyouusethatfoodsteamer?Isthe
popcornmakerevenoutofthebox?Therearethingsweaccumulateover
yearssimplybecausewecan–thelatestfadsinfoodprep,theon-trendfitness
gadget,thejewelleryforthatonecostumeparty.Thesearethingsthatwon’t
onlyde-clutteryourlifeandbringyoucash,butalsowon’tmakea noticeable
dentinyourdowngradedlifestyle.
Avoidget-rich-quickandpyramidschemes.Ifyoursocialmediafriend
reallythoughtyoucouldbecomea millionairefromsellingalkalinewater
andmiracleherbaljuices,wouldn’ttheybelivingitupinsteadofwearing
outtheirshoesonrecruitmentdrives?
Startanemergencyfund.Putasidea littlesomethingeverymonthfor
emergencies.Whena rainydaycomes,makesureyouhavea niceumbrella
fundtoseeyouthrough.
Move.Divorce,deathandkidsgrowingupcanhavea hugeimpactonyour
physicalspace.Ifyoufindyourselfsuddenlyrattlingaroundthehouselikea
coinina jar,itwouldbewisetoconsiderfindinga smallerspace.
DIY.Yes,youcan!Readupandwatchvideosongrowingyourownvegetables
andplants.YoucanalsopaintyourownnailsandturnthatR3 500 Brazilian
youboughtasan“investment”intoa wig.DIYisaboutreducingyourspending.