Vonne is in his early 30s and works as a departure controller. He lives on the East Rand with his girlfriend and 22-month-old daughter. Vonne is in a typical debt spiral. Until just over a year ago, he was managing financially. However, with the unexpected birth of his daughter, his financial obligations increased. He has bought a flat for the family and this, along with the child’s expenses, have pushed him over the edge.
“I have never had a budget and I was just spending unconsciously. Lately, I find it difficult to honour my debts and I am scared it’s going to get worse if I don’t get help.”
The big dream:
“To have enough money to save for my dream house, lobola and my child’s education, and to live comfortably.”
Vonne wants to continue his studies so that he can further his career.
Worst financial mistake:
“Buying the car that I love and taking out a personal loan because I spend more than I earn.”
Maria Mogomotsi has been a financial adviser for Absa for nine years.
“My job is challenging, yet it’s exciting and rewarding knowing that I have helped a client be in a better position than they were before.”
“Vonne’s car currently costs him more than he can afford, so we are looking at various options – can he structure the debt or will he need to sell it?”
‘Success is not a big step in the future, success is a small step taken right now.”