HOW TO PAY OFF HIGH INTEREST DEBT & SAVE MONEY

🌸Thank you for watching another episode of 'Your Budget My Way.' It's important to remember that the small sacrifices you make today can lead to a more enjoyable life in the future. To become debt-free, it's crucial to prioritize paying off your debt, even if it means temporarily reducing your sinking funds. Fortunately for Monica, she already has good investments and a sufficient income to help pay off her debt!
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[@zee_fx7158]

The way I would starve myself and not save a penny and throw everything into that debt? 😭 it would definitely stress me out.😓 that income and budget has a lot of potential. You did well Noma, it is eye opening to see how much one can save by just putting extra on their debt.

[@nonizulu]

You speak very softly and the music is high, I struggle to hear you in some parts. Please reduce the music volume a bit in future videos. I love your content

[@ntandoyenkosinyathi9952]

There's the R719 that's leftover from her current budget monthly, maybe integrate that into the debts or use it as part of savings.

[@prosperitymautjana4612]

Will take a lot of discipline but it will all be worth it at the end.😊All the best Monica❤

[@ntswakimaelangoe2995]

Paying off capitec, if I can add my 2 cents here, if she can pay the additional amount on the 1st of everything month, it will help her a lot, making 2 payments a month, it drops the total amount dramatically. Good luck, focus, and be disciplined, then you will enjoy financial freedom soon. 🎉

[@nickaylawilliams2419]

Absolutely loved and appreciated this video. I have been racking my brain for such a long time now, I wish I had found you sooner. But this is SO eye-opening and so educative. Literally so grateful to have found you and your videos. God bless you❤

[@zaneleartsy]

This is so helpful!... makes sense, and stockvel payout in 2025? Could be early emergency fund if its there.

[@rosanaobes6451]

No bonus enjoying sacrifice thanks dear

[@zanelemvemve8745]

Binge watching, liking only is not enough.

[@NomazDiary]

Thank you 🙏🏽🌻

[@ElsieBaloyi-sq8xd]

Wow👏👏 Noma good work indeed I wish you can do my budget as well I am in debts

[@nosiphiweradebe3846]

Hi Noma, thank you for this video, i relate so much to this, high interest debt really is defeating. What i struggle with is the roll over /snowball method, it works but i just need to convince myself to use the whole amount towards the next debt cause i just get tempted to use a bit towards myself or add onto other expenses😅Sigh thank you for the videos I'll keep going

[@shirleymoreki9685]

Wow Noma,thank you.I am already going to take points and pay extra on the debt i have.

[@NomazDiary]

👏🏽🥳 Let’s do this!!!

[@jessiemokoena7888]

I love this Noma. Great ideas. 🎉🎉well done. We appreciate you

[@nomondemnqayi6594]

I stopped stokvels and put that money towards debts that helped me a lot ..may be she can look that as well next year

[@NosizweZiqubu]

Where are people paying R2300 for rent? I need that place 😩

[@loratomoalosi7560]

Me too

[@khaboninarasefate1330]

Very insightful, thank you 🙏

[@mathabosefatsa1968]

Wow you making it look nice and simple and easy to understand, we just have to keep on saving every bit of the money to reach our goals ❤❤🙏🙏 Thank you sis Noma

[@nonhlanhlachili9794]

Wow. Thank you, thank you. Forever grateful I've found you🎉❤

[@NosizweZiqubu]

Great job 👏

[@vumiledlamini904]

Thank you so much Nomaz ..this is so helpful.. may God bless you Nomaz for sharing your financial wisdom with us 🙏..

[@zimkitamawonga-qz7ic]

Thank you ths was so clear and informative 😘😘❤.

[@keletsothipe8069]

Thanks for the you tube id new subscriber,i come from tik tok and have been your biggest follower.... how much is it to draw a budget for an individual???

[@mohlatlhegomphasha5983]

😊😊😊

[@randolphphiri4598]

Hi my sister I bought a spreadsheet from you. My question can I be able to use it on my phone to edit please let me know

[@Bathos78]

❤❤❤❤❤❤

[@beekaym4422]

Hello. How often do you do the random selections?

[@mahubekatane7315]

How do I book an appointment with you?

[@victorianameneverner8922]

❤❤❤🎉🎉🎉

[@leboganglamola4512]

Question: what would the effect of the loans if she pays off the cell in December? Logically speaking she will have one less expense in the new year and she can roll over the 1k into the loans

[@Zee-ms3uy]

The phone payment has no interest, so she loses nothing by paying it at the original pace. She's better off putting a pause on any savings and investments because it makes more sense in the long run. Savings interest is barely 10% if you're lucky and credit interest is over 20%, so she gains nothing by saving at this point. She can also move the extra R719 towards more debt payments. Personally, I would also advise against the R30k for a laptop. An HP laptop with good RAM and an i7 processor costs around 25k, that might be a better option than the MacBook I assume Monica wants to buy.

[@leboganglamola4512]

Oh that makes sense, thank you for clarifying. I was thinking one less payment to worry about especially considering her unexpected bills that pop up every now and then. Yeah that Laptop one is pretty pricey and sacrifices need to be made in Cyril’s economy Lol. The HP is a good buy and I’d also suggest an Acer Nitro 5 i7 with 16GB Ram for 20k or she can get the i5 version with 8GB for 15k laptop, it’s a midrange gaming laptop most people I know use it for coding ,video editing ,content creation, etc. if she is really pressed for an apple laptop she can get good value for money at Pre-owned iStore PS: Monica if you reading and you want an Apple laptop wait for new ones to come in March 2025 then you can get the 2023/2024 for about 10%-20% cheaper depending where you buy it either in SA or Abroad

[@Zee-ms3uy]

@@leboganglamola4512 I completely understand the logic behind your thinking as well. Paying off the lowest debt usually helps with motivation because you see the changes faster, but you might end up paying more interest in the long term. I do agree with those laptop options as well. Going cheaper and putting the extra 10k or 15k towards the debt payment would help shave off a couple of months.

[@buhlefemela2776]

And I also think starting next year she can pause a little bit on the stokvels and take that 3k put it towards her debt, which she can end up paying it even more faster. With the remainder of the R719 a part of it can assist her mom as she is always short of money and is the primary care giver of her child. And the rest buy urself wine 🍷 Monica sana u deserve it 😂.

[@elsiekorasie7526]

Hi Noma how can I contact you please😢