If you are struggling financially with areas in your life, December is time to look at what is happening and make fundamental changes. Make them fast. Start by looking at your overall debt picture and that of your family. Does your family have reserves to make it through three months, six months or a year, without a job, depending on whether you are employed and/or self-employed?
As the shopping fever grips many around the world, I recommend that you pause and look at your budget. Then, create an emergency plan for living on a lot less, so that in future, you might spend lavishly in December knowing that you are debt free ON YOUR HOUSE! Your immediate and most intimate asset. How would you feel if you did not have to pay a bond anymore and instead, could invest the amount you currently pay towards luxury, or for your children’s education?
My brother advised that paying off your mortgage isn’t the best investment. I agree because one can definitely earn higher returns on their money investing it into other assets, such as real estate or stocks. Is this true? I battle with thoughts of … do I pay off my house faster, or do I simply take the money that I would have paid extra on my house and invest it elsewhere?
Yet, I am obsessed with paying off the mortgage on my personal home. Why? My confusion continues because;
- I long to wake up owing no one but owning my own.
- I long for no monthly payment, especially during December and January.
- I long for peace of mind.
- I long for all that equity.
- I long for little to no personal debt.
- My past experience drives me.
- I long to be my admirer.
If I wake up one day with the above points fulfilled, I promise you, I would have attained financial freedom because my family and I would be living in a house that does not belong to the bank. We will have peace of mind.
What will you give up to have financial peace?
By Victorine Mbong Shu.
Victorine is in education and training since 2002. She is the CEO of Profounder Intelligence Management Services, an Authority Coach, a Publisher, Editor, Researcher, Transformational Speaker, Mentor, Material Developer, Facilitator, Assessor, Moderator and TV Talk Show Host at Children Television South Africa (CTVSA). She is the owner of Profound Conference Centre in Bramley-JHB. She and Dr. Fru are raising 4 bubbly children, including Africa’s youngest multiple award-winning author of chapter books, Stacey Fru. Victorine is a respectable Involved Parenting Conversationalist with a Master’s Degree in Communications. She is a BrandSA Ambassador and Awards Winning Author of the following books:
- ‘Stop Complaining! and Bring Back Involved Parenting,’
- ‘Trapped in our shadows,’
- ‘Proven habits for financial freedom,’
- ‘Not too late: Stop Complaining and Bring Back Involved Parenting.’