Erik Thiart sent a question that I’ve subconsciously been avoiding on this podcast. He wanted to know what the deal is with my debt story. I talk about paying back my debt often, but I’ve never really gone into how I got into debt in the first place. If I’m perfectly honest, it’s because it serves as a reminder of what a total moron I can be. It makes me look bad and I don’t want people to know about it.
This week I come clean. I explain how I got to owing R100 000 on a R10 500 salary in the blink of an eye. After unburdening myself, we discuss possible scenarios where debt could be helpful. We discuss how store accounts are trying to lure you in, how credit cards allow you to arbitrage the bank, buying a car and (oh goodness, why?) home loans.
I mention Jason Pieterse’s fantastic email in this episode. I published that mail here.
If you love us, please go tell iTunes here. It helps other people find us.
If you have questions or comments, feel free to send them to [email protected].
- Listen / download here.
- Subscribe to our RSS feed here.
- Subscribe in iTunes.
- Sign up here to receive an email every time a new show goes live.
Meet the Just One Lap team at these free live events
Click here to meet the Just One Lap team at one of our live, free events.