Six South Africans, six months, major financial decisions: follow their journey as they move from debt to wealth creation.
Join me as I take six ordinary South Africans through the Absa/City Press Money Makeover Challenge where they will undergo a money makeover boot camp.
The next six months will test their resolve and ask them to take tough decisions on every aspect of their finances: whether they can afford to keep the car of their dreams; reviewing their business to see if it’s really making any money; or whether that lavish dream wedding they’ve always wanted will be a debt trap.
Each candidate has been allocated their own Absa financial adviser who will assist them in organising their finances and help them reach their personal financial goals. The candidates will be required to complete certain financial tasks and to stick to the budgets set out for them in order to win the final prize of a R100 000 investment fund. Along the way, there will be incentive prizes for reaching certain milestones.
This is the second year that I have worked with City Press in running the Money Makeover competition, and this year we welcome Absa on board as the new sponsor. For me the most surprising outcome in last year’s competition was how quickly the contestants paid off their short-term debt. These were people who claimed that they did not have enough money to settle their debts and start saving, yet within six months almost all of them had settled furniture and clothing store debt and paid off their credit cards.
Their stories will inspire you and show you that the only thing stopping you from achieving financial freedom is you.