17 Aug Invest in yourself with Letta Mbulu & Thandiswa Mazwai
‘Invest: To put money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit.’
Think about that while you hear the advice from two of South Africa’s musical legends, Letta Mbulu & Thandiswa Mazwai. Investing can be one of the most challenging things that we have to do, it feels so wrong to put money into an investment instead of getting new Butan Wear.
I CAN WEAR THOSE THREADS TODAY, but those investments will only look good in about 10/15/20 years? When Thandiswa first started investing in a home she wasn’t actively thinking about investing, she was thinking about a home for her child. She wanted her kids to be able to live there forever if necessary and to have stability at any time in their lives. She wanted them to have “their room”, and the school that they went to “down the road.” In this case, having responsibilities helped her make the right decisions with her money because she wouldn’t have otherwise.
Mam Letta had a different relationship with investment, she was lucky enough to have a manager who advised her as soon as she started making money, to invest it in a property, to buy a house. He told her, when she was living in the US, that if she buys a house she can sell it and go back home with money because otherwise she would have spent it and would have gone home with nothing.
Of course, it’s not all about property, you always need to consider how you spend your money. Even when she thought about buying a fancy car, it took Thandiswa years to finally do it, because culturally it wasn’t appropriate for her to “flash a fancy new car” around. When she finally bought it, she thought to herself “how am I going to drive back to Soweto in this obnoxious fancy car?” In time she realised that she deserved it, she had worked for that car, she hadn’t stolen or taken advantage of corruption, she had worked “really hard.”
You are working really hard, you deserve nice things and you deserve a flex, but how do you want to live later? Do you want to make smart financial decisions that mean that you have security in the future, or do you want those Yeezys? You can get the Yeezy’s, but maybe it will take some time, maybe you’ll focus instead on committing to invest R50/R100/R500/R1000 every month?
Invest in yourself too, keep getting an education however it is you need to do it, it doesn’t need to cost money, you can even watch Youtube tutorials such as this one. Invest in your gear, buy and look after the tools of your trade, treat them like money machines, because when used well that’s exactly what they are.