I'm from the era where you could get credit cards without too much due diligence being done by finance houses. For some reason I believed a credit card was a sign of "having arrived". At one point I had 3 of them. @HeartlinesZA #ValuesAndMoney #DealingWithDebt

Back then your limit was increased without banks even asking you. It was marketed as a "reward" for using them. I totally bought into the smoke and mirrors. Add clothing accounts, car loans, phone contracts etc & my salary was literally 80% for servicing debt. #DealingWithDebt

We have this thing of believing that we need to show that we're working and earning money. So I moved to an affluent area, shopped in more affluent stores. Dealt with high debt like it was a normal thing one has when they're working. It's not. #DealingWithDebt

Buying clothes on 12 month credit terms. When one got maxed I'd just open another one. Didn't even think it was an issue.
Then my first car got stolen, it was just 3 months old. Ko Who Zoo . Insurance refused to pay out. That's when I had to wake up quick. #DealingWithDebt

I wrote a plan down. Listed all my debts and how much each one was. Then listed them in terms of highest interest to lowest. I systematically paid them off one by one. You'll be shocked at how high credit card interest rates are. Its insane. Started with those first. They fought

If you've ever tried to close a credit card you'll know just how hard it is. They offer to reduce your limit, but avoid letting you close it. They don't want to make it easy for you. Found the same issue with clothing accounts and gym contracts. I would use Hello Peter like a pro

Writing down the actual numbers for each one of the debts each month helped bring the reality home. Having a plan and paying debts off first before spending on yourself was hell but one of the smartest things I ever did. Seeing numbers wakes you up.

I've used the same strategy in my business. Have never applied for funding or a loan. Every thing started small and with the profit I'd buy more equipment. Wrote down what I need the most, had a list #DealingWithDebt

I have a creative brain...but I'm also very technical. So things I could do myself without funding, I did. My website, my logo, photography, admin...all one man. I wouldn't recommend to others but it was all to avoid getting into debt again as a business. #DealingWithDebt

The avoidance of debt also allowed me to be more flexible with how I handle my business. Its probably why I've been able to survive Covid lockdown. I don't owe anyone. Thankfully. It also allowed me to quit engineering and go to chef school without stressing.

It's not easy but systematically handling debt and being frank and open about it and not treating it like a shame is so important. My folks always told us about their money situation, down to even how much they earned. It wasn't a secret or hidden thing. #DealingWithDebt

What debts do I have right now? None. Even the house I live in is paid off.

Having said that, I'm not naive to the fact I'm going to need to apply for financing for the next level of my business. Restaurant, cooking school, product line etc. I'm delaying it but it's unavoidable