Dear Africa

Okay, so I’ll call this series of letters ‘Dear Africa’. I received a handful of complains about addressing the first letter to black people only. People thought it should relevant to all people, regardless of their color. I agree. But, those people must chill. This is like the ‘Blacks Only Comedy’. Open to all races, except kids who have trust funds.

So, I just found out on Twitter that today is apparently #WorldBookDay. Whatever that means, I can never keep up with all these unregulated days. I always miss the WorldBeerDay and the NoPantyDay. I must actually diarise those 😉

Okay, back to books. Seeing that we are celebrating books today, I thought it makes a nice topic to start off my series by highlighting some of the books I’ve read over the years, which I think shapes and informs some of my financial decisions.

South African books:
Become Your Own Financial Advisor: The Real Secrets to Becoming Financially Independent by Warren Ingram

Another book written by a lady, I can’t seem to remember the title or her name, but she uses the ‘cookbook’ style for personal finance, if I remember the name, I’ll update this.

International (American):
Rich Dad Poor Dad – Robert Kiyosaki. Cheesy ne? I know. I read this book long time ago, back when I was still at varsity and my monthly allowance was R500.

Richest man in Babylon. I only read this book just a few months ago, but I strong believe it is the the gospel. The Bible of financial education. It was published in 1926, but it is still relevant to this day. Not more than 150 pages long. If you buy one book from this list, buy this.

The monk who sold his Ferrari.
The Millionaire Fast Lane – MJ DeMarco
The Millionaire Next Door

Non finance books:
The 4 hour work week

The Power of Habit: Why We Do What We Do in Life and Business – Charles Duhigg

24 hour work week by Timothy Ferriss.

7 Habits of highly Effective people by Stephen Covey

Freakonomics by Steven Levitt and Stephen Dubner

Capitalist Nigger – Chika Onyeani

Websites and blogs I read regularly:
http://mayaonmoney.co.za/
http://justonelap.com/
www.jamesclear.com – about habits
http://www.jamesaltucher.com/ – ex wall street hedge fund manager
www.monevator.com – UK based but still useful.
http://www.mrmoneymustache.com/

Books which I haven’t read, but come highly recommended.
Think and Grow Rich – Napoleon Hill
Zero to One

I love reading, this list is but a tiny subset of my book list, I posted the complete list a while ago. I should post an updated version soon.

Dear Africa

I’m feeling a little controversial today, the Ntsiki Maswai kind of controversy. The Chris Rock Oscars opening monologue kind of controversy. The Julius Malema Cape Chamber speech kind of controversy. But this conversations needs to happen, and someone needs to start them.

You pay full bouquet of dstv but you don’t own a single share of Naspers? Why?

Why you pay for national Virgin active price, but you never travel? You only check-in at 1 gym everyday? You don’t even look like you gym there at all, you just going for the shower and sonar. Why?

You pay R600pm for IPhone 6s plus, but you don’t own apple shares, which are easily accessible through etfs like dbxus or dbxwd? Why? Not even Vodacom or Mtn share? Why o le so Africa?

You got your car through finance deals like the VW/Audi, BMW select or Mercedes Benz agility, which are designed to give you a false sense of affordability with 30% balloon, when you can truly just barely afford a tazz, why?

Why rent an apartment, but you don’t even own a single share of growthpoint or redefine, which are no more than 12bucks a pop? Why? I’m not even a fan of property, but if you don’t own your own property you should at the very least own some property shares.

You don’t have your own RA or TFSA, yet you have 2 credit cards, an overdraft bigger than your salary, and still take wonga loans? Come on. You and Zuma are the reason why we are on the brink of junk status. Come on, please, Jeerrr.

Your net-worth is negative half a million because of the balloon car and credit cards, yet you don’t even have a life cover for at least half a million? Who do you think is gonna pay your debts should you kick the bucket? Please man.

Your whole lifestyle is sustained by a single income, yet you don’t have an income protection plan? Retrenchments happens, and UIF will only cover your wonga loan.

You say you love your job, but you never think of up-skilling yourself so that you can move up a notch? Register for that short course, start a new degree, or do your honors or masters.

Why do you consume such large amounts of Moets and single malts, wear Raw and Diesel jeans on Edgars accounts, yet you don’t own shares of Sabmiller or Distell, or even MrPrice Group? Why vele?

You pay R450 in banking fees every month for that shiny black or titanium card, you look down on people with Capitec card, yet you don’t even own Capitec shares, which is the best performing bank on the JSE. For the why?

You don’t have an education plan for your children, but you buy them Nike and Timberland shoes, which they quickly outgrow every few months, Yet Curro (forget their racial controversies, follow the money) shares are going for less than R50 at JSE? How are you going to pay the actual Curro fees when your child eventually starts school? Why mara?

You are always seen at political rallies and conferences, hoping to score a tender or a position, but you don’t even have a pty registered. You believe in black magic ne? The period of people getting business or jobs in the government because of their struggle credentials is slowly coming to an end. Young, smart and educated young leaders are taking over. And what struggle credential do you have anyway? FeesMustFall?

You have a nice University degree which you acquired through the help of NSFAS, and you have a nice job, but you haven’t paid a single cent back, Yet you say you support the student movements? How?

Before, you bite my head of, I’m also guilty of some of these things, so this is a little introspection.
We can’t blame Jkop of Nkandla for all our problems, some of them are self-inflicted, and takes just a little bit of effort, and education, to help the state recover economically.

While we wait for Julius and co to implement the Freedom Charter and nationalize the land and the mines and the banks and pharmaceuticals, let’s start off the process by silent protest of buying shares in these companies, let Malema make all the noise at the Cape Chamber.
The JSE is one of the few organisations that doesn’t discriminate on the basis of color, closely followed by SARS. So read up on the benefits the Treasury gives for having things like RAs, and TFSA, and take the savings from there and put them into the stock market.

Let’s stop accumulating more and more credit. Let’s start businesses, and invest in other businesses. Let’s get more degrees.