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My Money Story - Goitsi

Being broke and irresponsible with money taught me lessons that I could have never learned from a textbook.

My Money Story - Goitsi

I come from an era where saving money was just a myth, an impossible and impractical exercise because my parents didn’t earn enough to save - and they themselves did not understand the concept of putting money aside. I also grew up in a famous township where criminals were far richer then graduates. So money, wealth and riches were all just a blur until I left university and started to make my own money.

Growing up without money and then suddenly having money made me a “new money” individual. I could suddenly afford all my hearts desires like perfume, designer clothes, handbags and shoes. I could finally stop attending Alex parties only, and explore nightlife in the suburban areas. This was very short lived because a lot of the time I felt like I had to keep up, like my life was a job and not a life anymore. I’d have money and then suddenly - I didn’t have any money and couldn’t even account for most it. I couldn’t point to anything tangible that I’d done with my salary and I was always stressed.

They often say growing up and “adulting” is a trap, but thank God it happened. In recent years, I have learned tremendous lessons about money - and my whole attitude towards money is now very different.

For one, I have learned that one should never live beyond their means – Do not spend money that you haven’t got because that’s where most of your problems will begin. Earning R6,000 a month but spending R10,000 leaves you R4,000 short for the next month. I also learned that one income stream is often not enough. There are so many things that we want and need as people and one income can’t always provide for all those needs. As it is, I work in real estate and have a primary income which covers for most of my expenses. However, on weekends I have show days where we market properties to potential buyers – this is where I earn commission if I sell and also earn R100 for every hour I’m there on a Sunday. I am also a part-time secretary at my daughter’s nursery school, where I type newsletters and take minutes for parent meetings. That is a total of 4 different income streams - and that’s the best thing I could have ever done.

Being broke and irresponsible with money taught me lessons that I could have never learned from a textbook. I now respect money and believe that taking care of the cents will make sure that the rands take care of me. I have a budget for my household, I keep till and petrol slips, I do not go out with friends unnecessarily, I buy groceries instead of take aways, I shop for my clothing when there are sales and I just live a very cost efficient life. I now believe in wealth and not money as such because it’s not about how much money you make but, how much money you keep. How hard it works for you and how many generations you keep it for.

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