By: Natasha Archary
Abantu Bazothini! Directly translated to mean, “What will people say?”
When it comes to financial decisions, most people are motivated and influenced by what other people will perceive about your lifestyle.
In the Maslow hierarchy of needs, social belonging ranks highly for self-esteem and being accepted by close friends and family.
This often leads people to seek financial advice from friends and family, which can lead to debt, losing assets and an endless loop of financial difficulty.
Trusting friends and family with financial advice sometimes leads to regrettable financial decisions.
Cash in, cash out
If you don’t want to rely on getting financial advice from friends and family, you must take charge of your finances by understanding how much money goes into and leaves your bank account every month.
Managing your finances should be treated in the same way one would manage a business, by tracking spending and income, but also understanding your financial patterns and behaviour.
Pay attention to these trends which can help you to stop making bad financial decisions.
“Abantu Bazothini” Syndrome
Worrying about what people will say about your financial issues is often the biggest factor in financial difficulties.
Our cars, clothes, apartments, cell phones, branded clothing, where we shop, etc are often driven by the validation we seek from people.
Forgetting that at the end of the day, the bills end up with you and not other people. If you’re constantly buying things or spending money to impress other people, your finances are going to be a problem.
From the outside looking in, it appears like your friends and family are just sailing through life with no financial difficulties.
The reality is that everyone faces struggles and challenges, the best you can do is deal with yours without the added pressure that you need to keep up with the Jones.
Listen to the conversation on Drive 959:
Also read: “My boyfriend is mad because I am mourning my ex” – The Blind Spot
