I once asked my 8-year old daughter Mia what I should teach ‘adults’ about money – that would really be of help to them. Without any hesitation she shot back “If you borrow money then it’s your responsibility to pay it back!”

This is a rule the cardinal rule when taking a loan, which is why I think my fabulous daughter thought that her dad should remind everyone about the rules of lending money and then everything will be ok. But everything is often not ok for most people and their families. In fact, the amount of debt that the average consumer pays per every Rand they earn in South Africa is 78 cents.

That means that for every Rand the average consumer earns, they are only able to keep 22 cents of it because the rest should be paid to lenders. Now honestly, who can live on 22% of their salary? So people don’t. They solve this problem by simply not paying their debts.

Now coming back to Mia’s advice I told her that I do believe that most people are genuinely honest and do want to pay their debts. They just can’t. And, it’s not because they are bad money managers, it’s because they haven’t even attempted to manage their money at all. They are simply trying to make it from one pay day to the next hoping that at some point their fortune will change. Or maybe they’ll get a salary increase at work and then it will be ok. That unfortunately doesn’t work either.

Just because someone earns more money doesn’t mean they will begin managing money effectively. More Money just magnifies what people do with money.

“A wealth builder invests more money if they earn more, and a debt builder just spends more if given the chance.”

So what to do?

If you’re reading this and have a few shopping accounts, a credit card, maybe an overdraft facility, a car payment and maybe a homeloan…and you constantly feel like you are battling to make ends meet? Then know this: You are normal because this is what most of our society looks like. So don’t panic.

But what you do need to do is take action and more importantly, the right kind of action. Have you ever heard the saying ‘practice makes perfect’? Well, it’s only half true because only ‘perfect practice makes perfect’.

In other words, if you are stressed out about where your financial life is headed because you have too much debt, I guarantee you that you have found it almost impossible to get rid of your debt because you simply don’t know how.

I promise you I know what I’m talking about. I’ve been a Money Coach™ for over 15 years now, and in the last year my company (The Money School) has trained over 18,500 people together with Truth about Money at one of the 44 Boston City Campus and Business Colleges around South Africa.

From experience we know that after completing our short course that takes just 6-8 hours to complete at your own pace (because it’s delivered digitally), you will not only learn why your debt keeps growing and how to get rid of it but also how wealthy people achieve the things they do despite having started their financial lives with no money.

Truth about Money will pay for you to attend our ‘Financial Independence short course’ at any one of the Boston campuses, which would normally cost you R2499. All you need to do is go here: https://www.truthaboutmoney.co.za/apply-now/

There is no need to suffer under the financial pressures that debt brings with it. Truth about Money has changed thousands of people’s lives and will change your life too if you just take their hand and commit some of your time to learning how to free yourself financially.

I look forward to having you on our course and receiving your feedback which I’d love you to mail directly to me at gary@themoneyschool.co.za