It is possible to fix your finances in just six months. The Money Makeover Challenge has proven this over and again.

The stories from the candidates who enter the Challenge are testament to the fact that financial freedom is not about miracles. It is about having a plan, a partner, and discipline.

In this podcast Maya (@mayaonmoney) speaks to the 2022 Money Makeover winner, township entrepreneur Mpho, along with his biggest cheerleader, Absa financial adviser Gladnes Masia.

They chat about how, in just six months, Mpho turned his takeaway food business from a drain on his finances to making a profit that can sustain him financially.

He is now running his stock levels efficiently, only needing to buy stock every three or four weeks. He is hosting events and has turned the area surrounding his restaurant into a food garden.

Mpho says that he is working so hard and cleaning so much, “even my own mother would not recognise me.”

This turnaround required dedication and hard work. He made sure he also focused on small things like making sure every fork and knife was spotlessly clean and planting vegetables around the kiosk to both improve the environment and to produce vegetables for his takeaways.

He identified that Wednesdays were slow days and created specials to draw in customers. As part of his beautification project, Mpho started growing citrus saplings from seed and planting them in his community.

This, combined with his personal training and printing business, means he can meet his financial obligations, including maintenance for his daughter. He is paying off his outstanding accounts and has made an arrangement with the municipality.

“I am now a better father. Before I was a loving and caring father, but financially I was struggling to help her mother. Fast forward, we are now co-parenting as the best parents with good systems in place for both of us and the baby.”

Six months in numbers

• Turned his business from a loss to making R10 000 profit a month
• Paid off R10 000 of debt
• Has moved from a budget deficit to having R3 000 a month disposable income after meeting obligations
• He has created a will to provide for his daughter