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This is the year to get Richer!

Written by Segololo from the blog Oprah Reviews on 31 Jul 2007
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The year is 2007; and it is a year that Oprah declares “a year to get richer”. I got very excited at hearing this for a lady who has the billions to prove that “You can do it, with a lot of hard work.” She had the money guru advisor, Jean Chatzky, to come assist and advice people on how to make the changes to get all this extra money. I personally need this woman in my life. Has any of you got the kind of advise and support from a financial advisor in a bank that you felt would be beneficial? I personally have left each bank feeling more lost than assisted. I am not saying they should offer or give more money or increase my credit card limit but simply give me the kind of advise that can make me get rid of the debt I have with them? Clearly I am naïve; as the lesson I learned on Oprah is it is my responsibility to make the change! That is damn hard work!


Oprah started the show by calling on stage Lindsay and Matt, Kathi and Steve and Diana; who have so much debt that they need help to make ends meet. The Money Magazine team was waiting to assist the people and get hem richer within an hour. No Pressure! I was not convinced they’d be able to find anything from these poor people funds. I was praying for some Oprah giving and just paying off their school fees; at least! They could have also been praying the same dream.


Matt & Lindsay
Lindsay and Matt

25 and 29 years old Newlyweds; pregnant; earning about $97,000 a year; $6000 credicard debt; $65000 student loans.
Matt – spender; Lindsay – stingy! Gal’s gotta save! Education is expensive!!!


Steve & Kathi
Kathi and Steve

Both spenders! Both 51; four adult children, two of which still live at home. Earning about $100,000 a year, $34,000 in credit card debt; $700 spent on 22-year old sponging son. Kids are expensive! What did they buy on those credit cards?

Diana
Diana

23 years old and single. Earning about $50,000 a year; $6,000 credit card debt; $37,000 student loans. She ain't got no money to spend so we can't really tell whether she is a stingy person or a spender! Expensive education! Oprah could have helped here! :-)

Ellen McGirt
Lindsey and Matt, were assisted by Ellen McGirt – The goal was a comfortable retirement figure! A long way to come but you got to save some money for your kids to spend when you can’t anymore. But, Honestly, how many people have you met that genuinely want to be comfortable in their old-age. Most people want to spend their money while they still can; young and agile! Therefore you find that most people find themselves taking care of their parents and their kids with the money they earn; creating another cycle of no retirement fund for yourself. You can’t even afford an old age home for the oldies! How many darkies actually utilize old age homes? Most darkies take their parents into their own homes. I know I am being a bit stereotyped here, please adjust my mindset!

The results: Matt has to sell his playstation and downgrade his car! Eish! Oprah even said this must be a blow to Matt; to come to the Oprah show and have to downgrade a car! They will open two Roth IRA's. Lindsay will contribute $250 a month into hers, and Matt will put $150 into his. At retirement, they will have $923,000! How long is this still to come? 

Stephen Gandel
Stephen Gandel assisted Steve and Kathi reduce a huge amount of money in their debt.

The couple was able to negotiate their credit card's interest rate from 29 percent to only 5.9 percent over the phone! Can you seriously get any assistance from our local banks telephonically for something this big? Is it possible to negotiate an interest rate with the local banks unless you are in the Sexwale range of earning? Do you need a personal financial advisor to be able to do it here? Has anyone of you gotten this kinda deal here in Mzansi!? Please send me the directions to your bank!!!

The results: Kathi and Steve made the critical decision to stop sending their sponging 22 year old son money to pay his bills. I don’t know if I would be really happy about this; if I was this son; Oprah taking away money from me like that. But start them early and they know Ma and pa ain’t got money! :-) He ain't gonna take them in if they don't save this money for retirement - He is gonna cut them off his will and not take care of them in their old age! 

With this huge $700 saving :-) and the interest rate reduction, Kathi and Steve should have about $450,000 at retirement.


Cybele Weisser
Cybele Weisser was given the daunting task of getting money saved from Poor Diana. Oprah just pay this gal's school fees! 

Diana needs to get a roommate - Haibo! There goes her need for space! Well, for moola she's gotta get a roomza! Hopefully she gets a nice one or she is a nice person to live with. This little sacrifice will bring $300 a month into her "savings". She was able to find some get cash consolidation on her student loan which saved her $66 a month. The gym membership she ain't using, she had to give up to save. Roadwork will have to do! 

The result: She saves $409 a month; at retirement she has $920,000! Does this take into consideration the increaseswhe will get? 

As a true Oprah fan who sits through each and every show (late at night, for the SABC 3 repeats) I was really looking forward on the topic of getting rich in an hour… But I got to say I was not happy with the results espech for Diana. Simply because I fail to see how she will be able to do all this saving when she is already “living paycheck to paycheck.” I am quite cynical of her ability to save; I would like Oprah to do a follow-up on her. Will everyone stick to the advise and apply it? Will the money find other uses? I know mine would have! Unless you guys send me the directions to a bank that I can negotiate a very low interest rate of about 0.6%...



41 Comments

Dimago
31 Jul 2007 04:27

Eish, Segololo, unfortunatley credit card is a necessary evil! Honestly, can't live without it - life is just not affordable on a pay check alone. I can see how these people had such huge credit card bills! And the interest rate on those things is ridiculous...17%???? I'm not sure how possible it is to negotiate it down here in SA, otherwise we all would have....

Toxic
31 Jul 2007 04:46

Props on a good blog Segololo

Therefore you find that most people find themselves taking care of their parents and their kids with the money they earn; creating another cycle of no retirement fund for yourself.

This is true and it's not a stereotypical view. It's happening all around us..I'm doing it and by the time I retire I'll only have my retirement package to live off and years from now it won't be much. So the lesson I'm taking here is I need to do some serious investing for my financial future.

Can you seriously get any assistance from our local banks telephonically for something this big? Is it possible to negotiate an interest rate with the local banks unless you are in the Sexwale range of earning? Do you need a personal financial advisor to be able to do it here? Has anyone of you gotten this kinda deal here in Mzansi!? Please send me the directions to your bank!!! 

Yep, I also need directions..I've done this by e-mail, fax, phone AND it's a year now and nothing's happened..!

KeleFabulous
31 Jul 2007 04:55

saving is EXPENSIVE! can't afford it...got too many bills...a student loan being one of them!

can someone find me a rich man who won't mind taking care of all my financial needs?

sponono
31 Jul 2007 05:37

Oprah sure loves them white folkes dont she...he he 

but her topics are always on point espesh this one on spending and budgeting....its worth a listen even if you wont see someone you can identify with like some brother who spends like you..but what the hell money is money right oprah!!!

Segololo
31 Jul 2007 06:15

@ spopo : <<Oprah sure loves them white folkes dont she...he he >>

Wait for part 2 of this article! Gets really interesting!

Thanks guys, for you support!

nice
31 Jul 2007 08:32

People honestly, how are we supposed to save? looking at myself, I am currently busy with articles at an audit firm and we all know that we dont get paid much, hoping to be CA's so we can eventually make some $$. I come from a typical black family, my mother is a maid, and daddy works in a factory, and I had to get study loans to obtain my degree. now that I started working, both my parents have retired, not to mention that they did not earn much so they have not saved up anything for retirement, my siblings which dont have much of an education, dont get paid that well at the factories they working at.

My problem is that my employers expect me to have a car to drive to clients, which in total (insurance, car installment and fuel) could cost R4000, if I buy a citi golf. and since I have this car I have to move out of my home.......it is no longer safe since it is a township and these cars are stolen  by some for a living................so rent in the town houses could cost about R2000, sharing. I cannot go to work in jeans so I have to dress up in suits that I cannot afford, so I open an account at Troworths, Edgars and the whole lot. How do I finance this come payday?

On top of that I have to buy food, send money home to my folks, remember they have retired and only have pension money as their source of income............not forgetting that when I stayed at home it was a shack (mkhukhu joe) and now have to help them to build a 4 room....nyana so the winter does not freeze them.

So then I approach the nearest bank, which is so willing to give me a credit card and I max it before month end, how will I pay for it at month end.

To sum up here's a list of my expenses..........

1. Study loans
2. Car
3. Rent
4. Clothing accounts
5. Money for the folks
6. Food
7. TV licence fom my 23 cm
8. Entertainment
9. Credit card payments
10. HP on the bed I sleep on..........furniture nje in the house that I am leasing

With what salary do I get to do this, (remember I am an article clerk at an audit firm) and what left over cash will I have to save?

I did not want to dish up a lot of issues on you but this is how some of us live and looking for all kinds of assistance I can get, I know you bloggers have plenty of ideas.

Dimago
31 Jul 2007 09:19

Eish Tee i feel you there, i do a budget monthly (cause i'm efficient like that :)), and each month i try to figure out waht i can cut out to be able to live within my means, but really every line item on my budget is a must have....so nice, take solace my friend, you are not alone!

Toxic
31 Jul 2007 09:22

Yeah, my overdraft is my salary so basically my salary pays off the overdraft and then i get into the negative balance because i have bills to pay

sponono
31 Jul 2007 09:26

Yoh !!! Nice awusabalisanga kanje.......some people would actually love to have even that chance you know your expenses are actually nothin to call home about seriously.......but ke you have the right to moan i guess but yesses!!!  Methinks you are actually having the tyme of your  young life and you are enjoyin it so you just moan for the sake of it.....(people are known to moan when having sex...LOL)

Toxic
31 Jul 2007 09:31

hahahaha Spopo!

Beyonce
31 Jul 2007 11:41

Great article Sgololo, 
Saving Money is a skill that you teach yourself- and it is never too late to start.
@Nice you have a wonderful background ye Bcom, saving shud come naturally to you--- that is what your Proffersors teach you guys everyday( so I hear ha ha ha)

Spopo... you are plain crazy! ha ha ha

Dimago
01 Aug 2007 00:47

LOL @ Spopo...hihihi

LOL at Bey  "Great article Sgololo"

belz
01 Aug 2007 00:56

LMAO @ Spopo!!! gud one Segololo!!! nice, hang in there sana, kuzolunga, jut cut down on the booze!! u are not alone!!!

Beyonce
01 Aug 2007 01:16

Ha ha h ah,

Morning peeps! 
Tee sthandwa, I shall do

pullie
01 Aug 2007 01:55

eishhh mani ppz, mina i dnt even wanna go thr ka chelete coz thz month its tha worst eva................as for u nice, i feel exactly wat u mean my dear but go tla loka as long as u cut down on the beer & entertainment for a certain period nd try cover up most things!! i'm serious.....

nd wena Spopo there's a place cald Lobatse hei in Botswana thts wher ppz like u go, ie if u dnt feel like Sterkfontein neh... i'l make sure i visit u!

sponono
01 Aug 2007 02:06

Hi' y'all ....unshofunetli I cant take that position Tee...phela this morning I've just volunteered to be a tour guide for some Yankees who are visiting ICC and our work place  ....but I'll use you as ref next time


hey how come we havent heared anything about tonights RGB ..has the hype died already or what.....and I also didnt see it menitoned on the latest ratings....

or is it the "star-studded" bloggers who get to talk about such news nowadays.....

how many times must I say " the cheque is in the friggin mail" . eish soon I'l have a star next to my name too... LOL

sponono
01 Aug 2007 02:13

<<Pulli :nd wena Spopo there's a place cald Lobatse hei in Botswana thts wher ppz like u go, ie if u dnt feel like Sterkfontein neh... i'l make sure i visit u!>>

<<Tee I heard there is a vacancy for you there at Sterk>>

Pulli and Tee....
guys dont get me worried, I know I'm NOT one of the "special people"   please dont send me away....I promise to behave   hi hi hi

pullie
01 Aug 2007 02:24

dnt worry spononza........luv u lots!

Marara
01 Aug 2007 02:38

"whatever the mind can conceive, it can achieve".. (whatever is going on in your mind you are attacting to you)

 THE SECRET TO EVERYTHING IS THE LAW OF ATTRACTION.

everything that's coming into yuor life you are attracting into yuor life. And it's attracted to you by virtue of the images you're holding in you mind. It's what you are thinking.
start now, clear your thoughts now! 

* to attract money, focus on wealth. it is impossible to bring more money into   your life if when you focus on the lack of it.

*  it i helpful to use your imagination and make-believe you already have the money you want. the thoughts of having more  money in your life will make you feel better, and more money will flow intoyour life.

*  feeling happy now is the fastest way to bring money into your life.

*  Make it your intention to look at everything yuo like and say to yourself, " I can afford that. I can buy that." You will shift your thinking and begin to feel better about money.

WHETHER YOU THINK YOU CAN OR CAN'T, EITHER WAY YOU ARE RIGHT." 

YOUR POWER IS IN YOUR THOUGHTS.
 

sponono
01 Aug 2007 03:05

ok Marara...thats a large morning dose of Dr Phil combined with AuntOprah herself...I think I'm gonna head for my conner and meditate  oumhhhhh oumhhhh oumhhhh  LOL....

Mararz  when is your album comin out by the way

pullie
01 Aug 2007 03:35

u go Rarazzzzzzzzzz................nd raraz e'm...!!!!!

sponono
01 Aug 2007 03:41

Tee..now that a whole new field of specialisation I've never heared of....yoh niyazazi izinot shem....pyshollolo-What   I dont think Marara will cope with that and her album comin out hi hii hi

at least now we know we've got our resident shrink....hi hi

KeleFabulous
01 Aug 2007 03:48

ooh dikoloto...don't get me started on that one. in this country we live from hand to mouth nje. u can try and cut costs as much as u like but something always comes up and u end up with nothing.

i don't understand why everything in this country has to be so expensive. they shud try and be more like america so that people can live sustainable lives. eg. the MOST expensive item u can buy in america is a house. everything else is pretty affordable to jsut about anyone who works. even waitresses can afford ama z4's but thina we just dreaming about it...nx!

Segololo
01 Aug 2007 04:13

@ Dr Phil O'Marara: I am motivated to wish my debt away! You rock! ha ha!

Marara
01 Aug 2007 04:24

Kele: u can try and cut costs as much as u like but something always comes up and u end up with nothing. 

Kele child, anything that makes you feel good is always going to be drawing in more. so child, don't feel bad about spending your money, if that makes you happy, JUST DO IT! it is yours after all. 

ONE MORE LESSON:

what you resist, you attract, because you are powerfully focused on it with emotions.  eg if you'r always thinking about debts and ways of killing them, you are attraction more debts into your life. the trick is to shift your thoughts and focus on things you want not on those you don't coz u will be attracting them. the law of attraction is not biased to wants and don't wants. when you focus on something, no matter what it happens to be, you are calling that into existence.

so, remember to stay aware, the power is in your thoughts!!!

Beyonce
01 Aug 2007 04:28

Hey did you guys watch Oprah last nite or (yesterafternoon ke 4 housewives)? They were talking about  a very innteresting topic ''Can a woman have it all?"  meaning can she have a successfull career and also be a good mom and wife.... hey it was hot in there I tell you! I thought Sgololo was gonna do/say something about it... since she is the klein Oprah and all hi hi hi

belz
01 Aug 2007 04:40

yho rararz, is that you?

KeleFabulous
01 Aug 2007 04:47

hey unfortunately not Bey. i still can't get why sabc 3 has it on so early when everybody loves the show. and the repeat comes so late it's not worth waiting up to watch when u have to wake up early.

Segololo
01 Aug 2007 04:50

@Bey: <<I thought Sgololo was gonna do/say something about it... since she is the klein Oprah and all hi hi hi>> i am busy writing the article... Love you, Bey!

Beyonce
01 Aug 2007 04:51

@ Sgo... waiting patiently my dear, thanx:)

Marara
01 Aug 2007 04:52

yep it's me chana, at my best! do you ever wonder why Marara is always happy and on her best mood? it's only because I only do all the things that  I love and that makes me happy. I know what brings me joy, do you? 

"follow your bliss and the universe will open doors for you where there were only walls" ----------by Joseph Capbell

Babini
01 Aug 2007 05:00

Guys I'm sorry if I sound unsympathetic but really I think we should cut down on all luxuries and 'live within our means'.

personally I've had to work for my folks since I was 14 and itimer is a real cheapskate. I don't know guys but I personally don't have a lot of miney but I'm never broke. I have used my credit card only 3 times and after the feeling of having having paid it I never made another purchase with it. I personally think that spending money you  don't have is a form of stealing. Ja sue me, I said it.

As for the financial advisor on Oprah (Jean Chatsky), shame on her. Why did she say she was gonna make those people thounsands with their money in an hour instead of saying: " I will show you how to cut costs, minimise debt and increase your income". I would have put it like that.
She just makes me so angry and is so dissapointing and I can tell Oprah was dissapointed too.

Phew!!!

Segololo
01 Aug 2007 05:06

@ Babini> We need a personal financial advisor who can help us! Please, please tell us more on how to have your restraint!

@ Bey: <<@ Sgo... waiting patiently my dear, thanx:)>> I am struggling to upload the pics onto the article. When I try it says 'No images found!" Wassup with that? @ Luke Tagg help me... I got bloggers waiting!!!??

sponono
01 Aug 2007 05:14

latest info from wikipedia Marara is :
Oprah's step sister, cousin to Suzie Orman(the lezbo finance guru), Dr Phil's former classmate, once dated the inventor of  the happy pill (check her mood) and is about to release her CD   ..now if thats not power  and cred for you mina hayi yaz....

you go Mararz ..BTW I'm milkin your advice.....coz  I know it works.
(I also missed you)

Marara
01 Aug 2007 05:15

Tee, my leave was okay wethu my darling. I din't have much rest but atleast I was at home. ooh before I forget, Aug is my last month here. I got a post in one of these eastern cape's smallest towns. ....(hint) ARTS FESTIVAL.
 
so jah, am serving my notice as from today.

babini: " I will show you how to cut costs, minimise debt and increase your income". I would have put it like that. 


take the" debt" part out, the more you think about it, the more you are attracting! hahahaha

le's concentrate on increasing the income...

 picture in you mind this huge balance in you bank. feel rich and picture yourself living large, will all the things your hear desires....

eish mandiniyeke nina!!! ndizakuphela nini.

cocktail
01 Aug 2007 05:16

My gal Bee,whats up sista!!!!!!!! Actually  i  was watching Oprah ysterday  n i  kinda related to the thing  since im a working mother myself yho!!!!!! its hectic serious. But ke at the and of the day we to make that money!!!!!!

Marara
01 Aug 2007 05:20

your mind

your bank balance

heart desires

eish, sorry guys!

Segololo
01 Aug 2007 05:44

Ok Bey! The article is uploaded with no pics!! Waiting for Luke to assist!

Dimago
01 Aug 2007 06:43

@ Babini, welcome back, how was Ireland?

Beyonce
01 Aug 2007 06:59

Thanx sgolo... will check it now

Babini
01 Aug 2007 09:10

Dimago honey I'm not back. Yeah, they do have computers in Ireland too. Surprise, surprise!
I have already watched 7 Oprah shows that are yet to be aired emzansi. hi hi hi


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