How To Whip Your Way Out Of Credit Slavery…
No Lupita Nyong’o to act you out of your bad credit? Or to keep you away from signing off your life to debt? No stress, Genius Level always got your back, No Casper the friendly ghost, rather think of me as Kagiso the friendly financier. Well not at all mythical, our methods have been tried and tested and they will definitely work for you. I’m going to cut much of the foreplay on this one and get it started.
Now the system of credit is one that is designed to feed off itself, a vicious nonstop cycle that just keeps getting bigger in circumference without it having to do much to ‘make the circle bigger’. For example, ever tried applying for a new cellphone contract to end up being told that you need credit history for your application to be accepted? And that you need to have X number of departmental store accounts to generate some form of credit history? See what is happening here? A system that feeds off itself and just keeps growing.
In this day and age it has become increasingly easy to access credit, all that’s needed is some social pressure from your circle and a brief lapse in judgment and boom!! You officially dumb nigga certified. No one likes debt, common borrowing blunders are not inevitable.
1 The Platinum Card & Friendly Banker Illusion
Due to what I had studied I was cursed with one right from the start of my working life. What is the platinum card trap/illusion? Look into your wallet, it’s slim, shiny and causes braggadocio, me and my boy call it Excalibur. It gives you the illusion that you have more money than you actually do, makes you feel official, this pimped up by the fact that you allowed to skip the long lines in the bank and get to the private banking section. Then they give you a private banker that reminds you monthly that you have been a good client and you due for a credit limit extension. It give you no real benefits, all it does is helps the banks classify their clients into different earnings potential, so they can get to your future earnings before you do. Don’t be fooled, credit is a curse and the banks aren’t set up to save you money, their objective is monetary and all that matters to them is the bottomline.
2 You do not need a new car, you want one
The distinction should be highlighted, I’m one of those that people regard as stingy, hell a couple of girls have called me a broke dude all because I did not want to spend my money on them, maybe the broke definition needs to be redefined… anyway will touch on this later. If you have a well working car that can get you from point A to B, you do not need a new car. I’ve realised that most of the decisions people make to buy new cars aren’t internally generated, your friends and colleagues sometimes pile up pressure on you until you crack, cars are a depreciating asset, don’t invest your hard earned money in them, rather save and invest money in profitable assets that appreciate over time.
3 Stay away from ballers and gold diggers
Just by association, people can fuck up your potential without you even knowing. It’s said that your current earnings is an average of your 5 closest friends, if that is true then I can geniusly hypothesize that your credit situation is an average of your 5 closest friends’ credit situations. Balleritis is contagious, stay away from pretenders and fast friends who weren’t with you from day one. Mob psychology is real, you become your environment, always scrutinize the adding value potential of all friendships and relationships you choose to build on.
A budget is not just a collection of numbers, but an expression of our values and aspirations. Refer to last week’s article on how to prepare, maintain and manage personal monthly budgets. The article is called THE BAD BITCH THAT WAS IN THE BUDGET (Another Genius Level Original)
5 The five year plan my nigga
When you commit yourself to a long term objective or goal, it acts as a guide for your everyday actions. Either it be to buy a new house or save up some money for capital needed to bring to life a business idea. Living for the now will won’t be beneficial for you in the long term.
6 Bonus: #MoneyMondays on Genius Level
When you save and invest your money, compound interest will always give you extra, that’s what we doing with the sixth tip, giving you extra!
Every Monday on Genius Level is #MoneyMondays , check us out weekly for more tips on how to manage your money.
“A Madiba saved today, will guarantee and secure you some financial ‘freedom’ in the future” #geniuslevel
Quick side note: Article title is a wordplay of the movie 25 Years A Slave….
Article by kagiso Maloma
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