Financial Freedom for Family

living debt free

As an avid reader I came across this: “The rich rule over the poor and the borrower is a servant to the lender.” A true statement, the second part of it hitting home.

Thus I decided to share Financial Freedom with my family. “Let’s strive to eliminate all debt.” To them it sounded like something new and innovative. Like no-one had ever told them that they could live happily without debt. I told them about my journey to financial freedom and how everything I do now is about achieving that. My mother joined me on this journey and loved it so much that she told her colleagues about it and they too loved the idea.

Which brings me to this question – How many people do you know, are living debt free?

debt free2

I know that for plenty of black people – not living on credit is so foreign a concept it’s almost a taboo. It’s time we changed that.

It’s time we taught youngsters how to prioritize correctly; how to save and how to live within their means and not for appearances. We need to take this concept to township schools so that we make it more of a desirable lifestyle and less of a chore. How?

teach children to save

Firstly if you think it’s a good idea – then share it with someone. Especially with those people you know just have to change.

Secondly, teach your children, nieces, nephews, little cousins, and younger siblings how to save. Buy them a small piggy bank or tin that they can put all their small change in. Plus, if you can, open a savings account for them and help/encourage them to grow funds.


I know for some of you, this is already what you know and do, matter of fact it’s part of who you are but for some of us it’s a foreign way of life.

Activities and such that already exist that you and your family can take to become more financially free can be found here:


Action: Share the idea with others. Teach a child. Be the good role model in the community.

Financial Freedom


A number of us don’t strive for financial freedom in fact we don’t even know what it means. We live beyond our means just to fulfill an appearance. We don’t have our priorities right – a person buying a house with a bond and calling it an asset. Newsflash, that property is an asset when you are getting an income from it.

I lived in a community where many can barely make ends meet, but pretend to have it all under control. Credit is a way of life and not something that should be avoided. I remember when I started working – everyone expected me to immediately buy a fancy car. It wasn’t about whether or not I could actually afford it – it was about looking like I could. The priority is to look rich. The problem with looking rich – you’re using the money you have to look rich and not using it to become rich.

With this type of thinking we end up in a vicious cycle where we ‘borrow from Peter to pay Paul’. Many times, we find ourselves eventually paying double or triple the price of the fancy products we own.

So, my friend and I decided to be financially free. No credit card. No clothing accounts. No phone contracts. No revolving loans. Nothing.


What this means is that we have to:

  • Create and keep to a Budget for – expenses; junk food; entertainment; clothing; transport costs; unexpected expenses; airtime; insurance; savings and investments.
  • Do everything possible to decrease unnecessary expenditure – like making our own lunch for work instead of buying lunch every day, or cooking more of our food and getting less take-out.
  • Take advantage of all the specials, bonuses, point systems and rewards that exist, ones we can actually use – it’s much cheaper that way and very beneficial in the long run.
  • Pay more on existing credit so to finish it quicker and incur less interest. Starting with the highest debt we owe that can be finished soon, not like a car, more like a credit card and pay more there and the minimum payments elsewhere.
  • Some credit need not be closed but rather deposited into, keep the positive balance and later used – that way you still don’t owe anyone or you owe very small amounts that you can pay on the go.

For more info about financial freedom click on the following links:

Or also get the latest copy of Destiny Magazine, the March 2015 issue.

ACTION: Create a budget. Settle all debt. Increase savings.