Money Lessons to live Debt Free
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To wrap up our #OMThoughtLeadership podcast series, we are joined by John Manyike, Head of Financial Education at Old Mutual to share some practical tips on best ways to manage our finances, joined by Atlegang Govuza, an Admitted Attorney, who shares her personal journey with money. Listen to the podcast to learn more about some of the key money lessons and how it ties in with the rest of the podcast episodes highlighting Responsible Lending..
Chapters
- 00:24 Introduction
- 02:34 How Covid-19 changed the way people viewed their finances and the findings of the Old Mutual Saving & Investment Monitor
- 03:59 Has responsible lending gotten better or are we still sitting with the same debt crisis?
- 07:52 The problem with not paying debt or communicating about your debt
- 12:03 What impact does the increased interest rate have on debt?
- 13:42 Atlegang Govuza shares her story about credit and debt
- 18:14 How Atlegang came to the realisation that she needed to downgrade to manage her debt
- 20:45 How did friends react to the downgrade?
- 23:36 How Atlegang is managing her finances now
- 24:50 What are the key lessons?
- 26:02 Observations from John Manyike and the myth of credit as only being bad
- 28:30 Atlegang shares first steps
- 32:14 The importance of not understating your expenses to credit providers
- 33:21 Final piece of advice from John Manyike
- 36:28 Conclusion and Summary
