Lately I have been thinking about the link between money and education. Better yet, the link that should exist between money and education. Relax, I am not talking about the noble “#FeesMustFall” movement. One assumes that the better educated people are, the better equipped and informed they are about issues of finance. Unfortunately, this is not the case, especially in South Africa given the fact that the culture of saving is substantially low. Fact is: we don’t have a good relationship with our money.
We are literate, not only to write exams and acquire certificates, but so as to inform ourselves in order to make positive and progressive life decisions. Acquired education – formal and informal – should be used to navigate the complexities of modern life to our advantage. School merely laid a foundation for us to seek further knowledge.
In context, there seems to be no strong correlation between education and an obsession with knowledge. Education now means getting a job and accessing big debts. Ultimately, we are the better poor. The retail and finance industries feed on our financial ignorance and reckless spending habits. The purpose of education is to train us to think, about our future, our finances etc.
For as long as our appetites for appearing “monied” are greater than our desire to become knowledgeable about matters of finance, we are doomed. When it comes to our spending habits, we suspend logic and are carried away by emotions. It is precisely for these reasons that we have high consumer debts in South Africa. Why buy clothes on credit? Be a bargain hunter; buy things on lay-bye. Avoid buying things on credit because the interest that is charged on your credit is exorbitant! Explore online shopping as it is usually better than in-store shopping. My friend recently bought a sound system online from OK furniture and he saved R2000. Spending what you do not have will only trap you in a cycle of debt and impending poverty. Pay off your debt and emancipate yourself from pre-pay day anxiety.
Please bear in mind that we live in a mixed, predominantly capitalist economy… an economy aimed at maximizing profit. Let that principle not happen at your expense.
Telemarketers are only interested in commission for selling products that you don’t really need and organisations offering credit are only interested in maximizing their profits. Your financial health is not their priority. You are not stupid if you can barely keep your head above water as a result of sinking debt. It simply means that you made poor financial decisions.
In the words of Dr Umar Johnson, “the biggest problem is not that we are splurging. It is that every time that we do splurge, we are stealing from our descendants.” It is high time that we thought about how to use our money and education to our advantage, in order to maximize the gains from our own lives.
#MoneyMonday
Article By Khulekani Ntjana
About the writer: I am pamphleteer, Aspiring writer.I am anti white supremacy, anti debauchery and anti philistinism. I strongly believe we should always read even if we are not placed within the four walls of class rooms. Humanities graduate who just got along at varsity
