Wait! Don't Make That Money Mistake
GLAMOUR South Africa|May 2018

I used to have a ‘drawer of shame’, full of unopened letters from SARS dogging me about freelance income I’d forgotten to report in 2012. I opened one letter, felt overwhelmed by the financial jargon and, for some reason, decided not to deal with it until I absolutely had to. Three years and one accountant later, I faced my mistake.

Anna Breslaw
Wait! Don't Make That Money Mistake

The penalties had grown my balance to three times its original size! I beat myself up about it, but now I make sure my taxes are on point. “When it comes to money, most learning comes from doing,” says Stefanie O’Connell, a personal finance expert. “By fixing your mistake, you’re taking full ownership of your financial life.”

Ahead, women share their blunders – and what they learnt from them.

“I was R120 000 in debt from emotional shopping after my divorce.”

– Rachel, 49

I got married at 19, but just a few months later, I got a divorce. I didn’t file for spousal support because I wanted him out of my life entirely, and I got several part-time jobs to cover the rent, on top of going to university. It was the first time I’d ever lived alone – I’d gone from living with my parents to having roommates to living with my ex – and suddenly I had to figure out how to be self-sufficient.

I started going to the mall two or three times a week and making impulse purchases for R600 or R700 on clothing and makeup. I didn’t need this stuff, but I was so depressed that I’d do anything to feel better in the moment. I’d think, ‘This makes me feel pretty and I deserve to be happy.’

Eventually I racked up R120 000 of credit card debt, spread out over nine cards; a few months later, I also had home and student loans to pay. In total I owed R1 790 000. At my lowest point, I had R10 in my savings account!

هذه القصة مأخوذة من طبعة May 2018 من GLAMOUR South Africa.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة May 2018 من GLAMOUR South Africa.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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