Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500
Weekend Early
03:00 - 06:00
volume_up
volume_mute

Up Next: Weekend Breakfast with Africa
See full line-up
Weekend Early
03:00 - 06:00
Home
arrow_forward
MyMoney Online

How to save and buy an island (you need only R2000 per month)

15 October 2019 3:36 PM
Saving money on boring stuff such as a car can allow you to do really outrageous and courageous stuff, says Sam Beckbessinger.

There are a whole bunch of audacious, really fun things you could be doing with your money, says Sam Beckbessinger, author of Manage Your Money Like a F*cking Grownup.

Like buying a private island in the Caribbean.

But we assume we can never afford these things, so we limit our ambitions.

Maybe we daydream about buying a better car but assume that to buy a private island, you'd have to win the lotto.

Well, fun fact:

If you sell your expensive car and buy a cheaper one, and invest R2000 a month into the JSE Top 40, you will be able to afford to buy TWO private islands over your lifetime.

No, for real.

Beckbessinger has done the maths.

pexels.com, 2018

Ray White (in for The Money Show’s Bruce Whitfield) interviewed Beckbessinger for his weekly personal finance feature.

They chatted about how spending less money every month on the boring stuff like your car can allow you to do outrageous and courageous stuff with your money.

Because compound interest is magic.

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

This gorgeous island costs R3 million… it’s a lot of money, but it’s not Richard Branson money…

Sam Beckbessinger

If you spend R4000 a month on your car… trade it in for one that costs R2000 a month… invest the difference… it’s likely to grow to R6 million over your working life… Which means you could have two private islands if you wanted to!

Sam Beckbessinger

Car salesmen use every trick in the book to make you think you can afford it… if you can pay off a R400 000 car over five years, you can just as easily pay off a R400 000 flat.

Sam Beckbessinger

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


15 October 2019 3:36 PM

More from MyMoney Online

Airport departure

Considering emigration? Financial planner discusses the affordability of leaving

6 December 2019 11:04 AM

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

Share this:
Read More arrow_forward

shoprite-cleanjpg

Why FNB is buying Shoprite, Sasol and Equites

26 November 2019 12:48 PM

Edgar Mafoko (Portfolio Manager at FNB Wealth and Investments) shares his stock picks of the week on The Money Show.

Share this:
Read More arrow_forward

mr-price-logojpg

3 best JSE shares to buy, right now (by The Robert Group)

19 November 2019 12:24 PM

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

Share this:
Read More arrow_forward

Mother teaches young daughter saving 123rfbusiness 123rfpersonalfinance 123rf

Schools don’t teach personal finance - how to raise a future millionaire

18 November 2019 8:38 AM

Personal finance expert Warren Ingram (Galileo Capital) on how to raise financially free children.

Share this:
Read More arrow_forward

Karatbars

Karatbars – is it a scam? The case for and against…

15 November 2019 10:06 AM

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

Share this:
Read More arrow_forward

Micky Mouse Walt Disney

Why 27Four is buying Clicks, AECI and Disney

12 November 2019 10:40 AM

Nadir Thokan (Co-Chief Investment Officer at 27Four) shares his stock picks of the week with Bruce Whitfield on The Money Show.

Share this:
Read More arrow_forward

Standard Bank building in Cape Town

Kruger International is buying Standard Bank, Visa and owner of Johnnie Walker

5 November 2019 10:47 AM

Kruger International Asset & Wealth Management Director Mia Kruger shares her stock picks of the week on The Money Show.

Share this:
Read More arrow_forward

No yes maybe

Why you should ignore (conventional) personal finance advice before retirement

1 November 2019 3:09 PM

Most personal finance advisors suggest reducing “risk” a year or two before retirement. Ignore them, reckons Warren Ingram.

Share this:
Read More arrow_forward

Statue of Liberty New York

Take as much as you can out of South Africa, now! – wealth manager

1 November 2019 1:24 PM

After a "calamitous” mini-budget, Austen Morris Associates does not see a single reason to invest any discretionary funds in SA.

Share this:
Read More arrow_forward

Ferrari

3 hottest shares to buy, right now (according to Nitrogen Fund Managers)

29 October 2019 1:32 PM

Rowan Williams shares his stock picks of the week with Bruce Whitfield on The Money Show.

Share this:
Read More arrow_forward