The Personal Finance series with Warren Ingram

70% of middleclass in SA in deep, deep financial trouble. Here's the way out...

Seventy percent of South Africa’s middle-class is suffering from financial stress.

This is according to Sanlam’s 2017 Benchmark survey.

The five most significant sources of financial stress are:

  • Short term debt obligations (car, personal loans, credit cards, etc.)

  • Not saving for the future

  • No emergency funds

  • Family financial obligations

  • Education costs of school or university

All of these issues relate to planning, and how to save and invest your money.

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram for his weekly personal finance feature.

Ingram discussed the following three steps you can take to rid yourself of financial stress and achieve financial freedom:

  • Get rid of bad debts

  • Build an emergency fund

  • Create an investment portfolio to cover your lifestyle costs.

For more detail; listen to the interview in the audio below (and/or scroll down for quotes from it).

The middleclass is a stabiliser.

Warren Ingram, Galileo Capital Financial Advisor

The new-South African miracle is dying.

Warren Ingram, Galileo Capital Financial Advisor

Growth is how you solve this problem.

Warren Ingram, Galileo Capital Financial Advisor

You may want to use your emergency fund to clear expensive short-term debt.

Warren Ingram, Galileo Capital Financial Advisor

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : 70% of middleclass in SA in deep, deep financial trouble. Here's the way out...


Recommended

by NEWSROOM AI
Read More
How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

Why women must be far more careful with their money than men

Why women must be far more careful with their money than men

Ray White talks to personal finance guru Warren Ingram, who reckons women should take financial planning more seriously than men.

Where to best save and invest so your children can one day go to university

Where to best save and invest so your children can one day go to university

#FeesMustFall, but don’t hold your breath. Take matters into your own hands to ensure a tertiary education, says Warren Ingram.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.

4 ‘places of safety’ for investors to consider (though there is really only one)

4 ‘places of safety’ for investors to consider (though there is really only one)

The JSE is struggling. The rand is toast. Trump’s trade war has markets rattled. Advisor Warren Ingram discusses places of safety.

Popular articles
[LISTEN] Zille responds to Lindiwe Mazibuko comments that she undermined her

[LISTEN] Zille responds to Lindiwe Mazibuko comments that she undermined her

Helen Zille responds to alleged comments made by Lindiwe Mazibuko at a dinner, saying she's doing the same to Musi Maimane.

[WATCH] Melania Trump's reaction after shaking Putin's hand

[WATCH] Melania Trump's reaction after shaking Putin's hand

Waitress praised for standing up for herself after a man touched her butt on his way to the toilet and a dog comforts its owner.

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

More arrests are imminent in connection with the cash-in-transit heists - Hawks

More arrests are imminent in connection with the cash-in-transit heists - Hawks

Seven suspects were arrested in Limpopo in less than 24 hours after a cash-in-transit vehicle was blown up in the province.