Being financially savvy

At the beginning of each year, most people make new year’s resolutions. One of the most important resolutions to make is financial literacy. This is due to the financial stresses that many people often experience in January. In case you are wondering where to start in putting your finances in order, a book titled The Number One Source Of Stress written by Thulani Mandula will be a great source.

The book, launched in December, is an eye-opener and deals with an issue that is crucial to most people – trying to make a living and build wealth. This book is all about financial freedom and management of money, something many struggle with. It highlights how it is important for one to manage one’s finances, so that one can live a life that one desires.

It is true that money cannot bring you happiness, but let’s face facts, money can buy you the things that bring you happiness and can make your life easier. This book teaches about the importance of managing money through various steps, such as:

• Never live beyond your means.
• Never think getting a promotion will better your finances because the more you earn, the more you’ll want to spend.
• Save or invest in stock and property.
• Pay off all debt.
• Stay away from the “buy now pay later mentality” which is often related to credit cards.
• Reduce expenses and build an emergency fund for those rough days.
• Learn to budget.

To do all those things, one needs to develop a wealth-building mindset and realise that wealth is worked for and is not instant. This book is very beneficial, especially for people who are starting their careers and people who want to be debt-free and financially stable. To be wealthy, or at least financially healthy, one must make saving a lifestyle choice. One must be patient in accumulating wealth and must avoid debt at all costs.

The book should be a cornerstone for everyone who wants to live a life that is financially stressless.

Picture: Supplied

Info:

About the author

• Mandula is a young man from Mamelodi, east of Pretoria and used to spend money a lot until he finally reached a turning point where he was broke and saw the need to be financially independent.
• So, in a step towards financial independence, he got introduced to stock market investments by his friend Sphiwe Mahlangu and started attending investment seminars where he saw that people need to be educated about finances.
• This led to the book.
• Before that, he studied at Tshwane South College and graduated with a diploma in Civil Engineering, N6.
• From there, he worked for a retail store where he learnt how essential teamwork is to every organisation.
• The department of public works then called him for an interview where there was an opportunity for an internship at Thaba-Tshwane Military Base. He got the internship but unfortunately after six months the company was liquidated.

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