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Category Archives: Money Mondays

Took A Lot Of Credit Just To Live This Here ‘Lifestyle’ … By Dimo wa Moraswi Sekele

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The Black Middle Class Illusion

Post-Apartheid South Africa  has established a new classification of its own citizens by their economic status, talk of a confused country, by now there should be a balance between the Rich and Poor or attempts to achieve it, but nooo!! It’s rather used as a tool to measure who is the target market. One can quote Steve Biko and question if the struggle had direction or if someone along the lines forgot about such directions and formulated their own direction. Let us leave politics to politicians. Read the rest of this entry »

 
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Posted by on March 28, 2016 in Business, Money Mondays, Uncategorized

 

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Economist’s failed Attempt At Explaining Why Whites Earn More Money Than Blacks… By Seitiso Ntlothebe


Mike Schussler & His Failed attempt At Rewriting History

It is the American intellectual and NBA great Kareem Abdul-Jabber who wrote recently in a piece for Time magazine that ‘…education is under attack by people wishing to rewrite history’. In such cases it is mostly people who should know better than to reimagine the truth to fit their own personal agendas. In 2013, November 11, one Mike Schussler, a respected economist in South Africa, published an article on Fin24 recklessly titled ‘Economists explains why whites earn more’. From that title alone you almost get a sense of what is to come in the article: white arrogance justifying itself. But bear with me. Read the rest of this entry »

 
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Posted by on March 22, 2016 in Business, Money Mondays, Politics

 

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Wanna Be featured On Genius Level?? Check this Out

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Each week we will be publishing different people and their career paths/professions… Whether you are an accountant, entrepreneur, musician, dancer, photographer, engineer, etc_ we wanna know your story and share it with other young South Africans who will be inspired by your field and story…. Let’s build!! Email us on geniuslevels@gmail.com

WHAT DO WE WANNA KNOW ABOUT YOU??

1 Name, Surname and Nickname
2 Where you from and where you are currently
3 What did you study (what inspired this)
4 What do you do? Your profession, career..
5 Who inspires you and why?
6 What message do you wanna share with our readers? (anything)
7 Your favourite Movie, Book and Qoute
8 Anything random… (Optional)

Please reply via email and we’ll publish.
geniuslevels@gmail.com

 
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Posted by on March 15, 2016 in Money Mondays, Uncategorized

 

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‘Married In Community Of Debt’ – Why the Black Man Will Forever Be Broke …

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Why the Black Man Will Forever Be Broke and In Debt

Back in the day, the process was as follows…

You meet a girl you like, you start dating and you meet the parents and by the luck of God the dad likes you and doesn’t whip your ass as you had imagined. From there on the 2 families are aligned as to what is going on. Then the Lobola negotiations come up and #Lobola (1) is paid. Then what follows is the #Traditionalwedding (2). And if it’s the right match they have kids and live happily ever after. And Oh, they get 2 funeral plans.

Two hings happened here, lets put monetary value to them

1 #Lobola R40 000 and maybe a Johnny Walker Black bottle to bribe the drunk uncle who holds the most resistance, say R250

2 #Traditional wedding = R50 000

Total Costs R40 000 + R250 + R50 000 = R90 250

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In the Western Culture the process is as follows…

You meet a girl you like, meet the parents after a week or 2 weeks or so (haha no such thing as moving too fast). Then the dude pops the big question, they get Engaged and he buys the #EngagementRing (1) . Then follows the Wedding, lets call it the #WhiteWedding (2). And if it’s the right match they, have kids and live happily ever after. And Oh, they open up 2 investment accounts.

Two hings happened here, lets put monetary value to them

1 #EngagementRings R50 000

2 #Whitewedding R100 000

Total Costs R50 000 + R100 000 = R150 000

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Let’s fast-forward to what happens currently

We as the black community decide our traditional way of doing things isn’t enough, lets adopt this new western culture and see where it takes us as it seems nice.

Lets add up the new inherited costs of the newly adopted culture….

1 #EngagementRings R50 000

2 #Whitewedding R100 000

Total Costs R50 000 + R100 000 = R150 000

Oh wait, we kinda know that we decided to adopt a new culture, but we are Africans, we value tradition right? Hey? Why can’t we have best of both worlds? Obama said YES WE CAN….

So lets add up the costs…

1 #Lobola R70 000 (We have adopted newer rating systems, we paid way too much money to raise our child)

2 #EngagementRings R50 000 (The bigger the diamond, the bigger the love right?)

3 #Traditional wedding = R50 000

4 #Whitewedding R100 000

Total Costs R70 000 + R50 000+ R50 000 + R100 000 = R270 000

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But wait, We do not have that much money!! “Don’t worry babe, I would do anything to prove my love for you”…. Sipho visits the bank and gets a R300 000 loan. Plus interest say it all adds up to R300 000.

The wedding days are over…. We need to get a house and 2 new cars to show people how well off we are, we are working mos….

Three costs are incurred here

1 #FancyCarOne R500 000

2 #FancyCarTwo R400 000

3 #NewHouse R900 000 (We part of the #BlackMiddleClass now so we godda move to the the suburbs)

3 #InitialWeddingLoan R300 000

Sooooo… Does anyone wanna help add up the costs?

R500 000 + R400 000 + R900 000 + R300 000 ……. Add that up!!

A couple of months into the marriage, things go sour due to the extreme debts they have, one party blames the other for all the credit that was acquired in the name of love….. I will not be the one to predict the ending of the story, I’ll give you a hint; Its a sad one.

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Lets stick to our own lane, that way we’ll all be free……

*Lobola – For all the international readers: Lobola is the bride price of appreciation paid by a prospective husband among certain traditions around southern Africa.

Article by kagiso Maloma

 
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Posted by on March 14, 2016 in Business, Money Mondays

 

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What Is Planned Obsolescence & Why You Should Be Mad #MoneyMonday

best-iphone-6-concept“Our enormously productive economy demands that we make consumption our way of life, that we convert the buying and use of goods into rituals, that we seek our spiritual satisfaction and our ego satisfaction in consumption. We need things consumed, burned up, worn out, replaced and discarded at an ever-increasing rate” Victor Lebow, economist, 1955

The simplest most twisted way I’d explain Planned Obsolescence is, imagine Apple was responsible for designing a girlfriend for you in exchange for money. Now with entity sustainability coming into the picture, Apple being the smart guy would not design a girlfriend for you that has all the features, because after 6 months or a year they want you to come back and purchase what they say is a better girlfriend. So what they do is the first girlfriend they design for you has amazing eyes that serve as a stand-out feature, but that’s all they place in the package! just pretty eyes and you go ahead and buy. 6 months down the line they design another girlfriend for you that now comes with pretty eyes and dimples; say by now Apple’s marketing initiatives has managed to convince poor gullible South Africans that dimples are the way to go and since you made to believe that you deserve better and you dump the girl you with now for the assumed upgrade…. Read the rest of this entry »

 
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Posted by on February 15, 2016 in Money Mondays

 

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Letter To January: Dear January… Die!! By Nosiphiwo Mgoduka

Dear January,

Die.

That is the one short and direct word that can express just how much I despise you. Never have I ever met a woman as stingy and inconsiderate as you. Even though you are fully aware of what your gold-digging sister December does to us, you still show no mercy, no grace when we stagger towards you.

You watch us as we plan our budgets for the festive season, trying to save money for you. I bet you sit there and cackle at our futile efforts, don’t you, you cold-hearted witch? The least you could do is be short and filled with love like your sweet cousin February, but no. No, you get off on watching us pinch unpinchable pennies, borrow money we don’t have and only regain our financial stability in March.  You truly are a son of a year.

Jan-u-worry, how the hell are we supposed to keep our New Year resolutions if you’re like this? They require the money you so selfishly hide from us. Even when paydays roll around, you snatch that money away too because you simply won’t let us be great.

Jan, we’re wary. You need to change your ways, you bitter old hag. Sit back and watch your family treat us well throughout the year and you better takes notes. Then make sure you apply what you learn to your attitude next year or I’ll start a petition to have you fired. This is no idle threat and you know it. I’m not the only person who can’t stand your sourness, I’m just the first to say it to your face.

P.S. Don’t even think about convincing the others to be as stingy as they were last year. Yeah, I know that was your idea.

Article By Nosiphiwo Mgoduka

 
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Posted by on February 1, 2016 in Money Mondays

 

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The 60 Second Financial Advice That Will Keep You From Being Broke… By Kagiso Maloma

I hear and get all sorts of business, relationship and career advice on a daily. This are people who would tap into your life acting in your situation presumably for your best interest and give advice of what to do and all. most of it is usually advice that one never asked for, but I guess it makes for good small talk right?

So I drive a 2008 black hatchback Toyota Yaris that I bought second hand 6 months into getting into the working world. By far the best purchase I’ve ever made, being frugal about my money it took me 3 months to shop for a car, now like most people I wanted a nice good looking car, but not only that, i was also looking for durability, quality, comfort and longevity. Which I found in my ever so gorgeous Jinx (which i termed the ‘she’ opposite of my Res nickname Zinx).

Been with this little beauty (no pedophile vibes), so I’ve been with this beauty for almost 4 years now and I’m just about done paying the debt up. looking at this Bae now I don’t really see why i should let her go, i mean I work an 8 to 5 all week, work is 5 minutes away in this gorgeous windy city of port Elizabeth. She’s still in great shape, has never let me down never. Insurance payments on her are minimal and really looking forward to not having to pay for a car! There’s enough expenses for a black brother like myself in this day and age. we should be saving money up for Lobola or better yet a house.

The crazy thing is most people who know me and what I do and people who assume my financial position always ask why am I driving a Yaris?? You see as a society, especially around my black beloved society we draw certain standards for working people and pile on pressure for them to acquire cars and other assets regardless of their monthly Salary; so trust that when a brother finally gets that employment contract they turning up with a Beast of A German machine… (Please check an article we published last year about your first car determining your retirement).

Vusi Thembekwayo once said “We black people are the only race that measure our success by how many failures we see around us, our normative measure is how ahead am I from the people who are not doing so well!!” So immediately as one steps into the employment scene they immediately enter the competing game regardless of how much they earning, how much of debt they getting into just so they can match up with society’s silly standards. Most of it is made believe, I mean yeah its all good when people think you have money but when you get home and those bills and debt collectors start ringing up your phone, reality steps in.

As a race we aught to really address the things that steal away wealth from us, we need to address how looking good surpasses feeling good, we need to address that we do not need to seek acceptance by balling and living a certain life. The danger with this is you end up with friends that encourage such habits and then its hell from there, you locked in… the beauty of being honest with yourself and situation and staying in your financial lane is that you get to meet other sober minded geniuses that believe in what you believe, and yes that includes your own miss independent lady that understands hard-work and understands where money comes from so she wont feel the need for you to go out on a weekly or spoil her on credit. Wouldn’t you just love such a life? where your happiness is the highest priority, where a night out with friends is all about having fun and not flashing your wealth to people who shouldn’t really be seeing it?

One thing I always say to myself and friends with regard to car is that I really love LOVE cars, but I will not move from one bicycle to another… meaning I will not move from a small car to another small give or take fancier car as i know that after 2 or 3 years I will definitely want to change it. rather save up for a bigger car give or take a Benz, something you know will outlive you, something that you wont want to change after 2 years, and also something that retains its value.

“A man who is a master of patience is a master of everything else…..” GL

#MONEYMONDAY

 
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Posted by on January 18, 2016 in Money Mondays

 

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