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What stokvel are you apart of and how did it go? · Anele and the Club on 947

• 0:00
  Speaker 1: Wake up with a bang. Hey, wake up! Anele and
• 0:05
  Speaker 1: the club on 947. Earlier on this week, Tempe Gila
• 0:08
  Speaker 1: casually dropped to us that he is part of a
• 0:10
  Speaker 1: stock fell.
• 0:12
  Speaker 2: Yeah, boo.
• 0:13
  Speaker 1: How long have you been part of the stock fell?
• 0:16
  Speaker 3: Initially under duress about three years ago because my mother
• 0:18
  Speaker 3: is the queen of stock fells.
• 0:20
  Speaker 4: So she's got about three going.
• 0:23
  Speaker 3: But I'm now a joint member on her account.
• 0:28
  Speaker 4: In a grocery stock file for December.
• 0:31
  Speaker 1: And you say initially under duress, what was your apprehension
• 0:34
  Speaker 1: about it?
• 0:35
  Speaker 4: Because think about it.
• 0:35
  Speaker 3: So we're not like the stock file generation typically, right?
• 0:39
  Speaker 3: I mean, our parents have always done it. But who
• 0:41
  Speaker 3: in my complex or here at work am I going
• 0:43
  Speaker 3: to say, hey, let's clap together and save 1,500 rand
• 0:46
  Speaker 3: a month so that in December we use it to
• 0:48
  Speaker 3: spend on groceries because people are visiting, etc.
• 0:50
  Speaker 1: So how many are there of you?
• 0:52
  Speaker 4: There are eight members in the stock file.
• 0:54
  Speaker 1: So eight times 1,500 rand. Equals 12,000 yen a month
• 1:00
  Speaker 1: times 11. Not 12, because on the 12th month you spend.
• 1:02
  Speaker 4: Yes, in December. Oh, it's a big day, by the way.
• 1:05
  Speaker 3: On the day in December, you bring a baki, kids
• 1:07
  Speaker 3: bring wheelbarrows, because you get a sheep.
• 1:10
  Speaker 1: You get a sheep?
• 1:11
  Speaker 5: Yes.
• 1:12
  Speaker 4: You get like a sheep.
• 1:13
  Speaker 1: What else are you getting?
• 1:14
  Speaker 3: And then they buy a bunch of groceries, man. There's rice, maize,
• 1:17
  Speaker 3: cooking oil.
• 1:18
  Speaker 1: Cleaning detergents.
• 1:20
  Speaker 3: Yes, baked, not baked goods, but tinned stuff, canned food,
• 1:24
  Speaker 3: that sort of stuff.
• 1:25
  Speaker 1: R132, 000 to spend on groceries in December.
• 1:29
  Speaker 6: And you know what it is with that? You get
• 1:31
  Speaker 6: a better discount because you're buying everything in bulk, right?
• 1:33
  Speaker 7: In bulk, yeah.
• 1:35
  Speaker 1: What stock fills are you guys part of?
• 1:36
  Speaker 4: I have a grocery one now.
• 1:38
  Speaker 8: What?
• 1:38
  Speaker 4: For December. Yes, in bloom.
• 1:39
  Speaker 3: Babes, when all those people come to visit here, you'll
• 1:41
  Speaker 3: see how quickly you go through a bag of rice.
• 1:43
  Speaker 1: I'm looking for a property stock fill as well. Do
• 1:45
  Speaker 1: you guys know any of those? Not after the Connie
• 1:47
  Speaker 1: Ferguson story. I'm still keen on any type of stock fell. 011-8838-947.
• 1:56
  Speaker 1: You've heard Tim Biggiela's one. I think it's absolute genius.
• 1:59
  Speaker 4: But you know what it is also about it? Apart
• 2:00
  Speaker 4: from December, right? Think about it. Most people don't have
• 2:02
  Speaker 4: money in January.
• 2:03
  Speaker 3: But you get so much food that you don't have
• 2:06
  Speaker 3: to worry about groceries for the first few months of
• 2:09
  Speaker 3: the year because a lot of the stuff, yes, whatever,
• 2:11
  Speaker 3: you may go through the meat quickly.
• 2:13
  Speaker 4: But if you've got like cans and cans of, cultures,
• 2:18
  Speaker 4: all sorts of things that will carry you through the
• 2:20
  Speaker 4: beginning of the year.
• 2:21
  Speaker 6: But is it just, it doesn't, I think there's more
• 2:24
  Speaker 6: than just stockpiles for food and stuff.
• 2:26
  Speaker 1: Like that, right?
• 2:27
  Speaker 3: Yeah, there's money where, let's say, for example, we each pool,
• 2:31
  Speaker 3: so everyone in the room, 2,000 Rand a month, and
• 2:33
  Speaker 3: then this month we give it to Cindy. Next month
• 2:35
  Speaker 3: we give it to you. And what people do is
• 2:38
  Speaker 3: you plan around it. If you want to buy maybe furniture,
• 2:41
  Speaker 3: pay off your child's school fees in the month that
• 2:43
  Speaker 3: you get the money, you then use it for that.
• 2:46
  Speaker 8: 011-8838-947.
• 2:47
  Speaker 1: Please do not keep this to yourself. Brag about your stock, Phil.
• 2:51
  Speaker 1: We want to hear, are you in a travel one?
• 2:53
  Speaker 1: Are you in a property one? Are you in a
• 2:54
  Speaker 1: stationary one? Are you in a uniform one? Are you
• 2:58
  Speaker 1: in a beauty product, stock, Phil, where you guys put
• 3:01
  Speaker 1: money together and then at the end of the year,
• 3:02
  Speaker 1: y'all go to China and you buy wigs? What would
• 3:05
  Speaker 1: a travel one look like? I know Flight Centre used
• 3:09
  Speaker 1: to have something that is almost like a lay-by, but
• 3:13
  Speaker 1: if you want to do like a group travel thing
• 3:14
  Speaker 1: and then you guys, they have an account for you
• 3:16
  Speaker 1: and then you guys just like, you know, you pour
• 3:18
  Speaker 1: 500 rands each month and then they kind of meet
• 3:20
  Speaker 1: you halfway just for you guys to go.
• 3:22
  Speaker 9: I'm not.
• 3:23
  Speaker 6: And then by the end of the year, you all
• 3:24
  Speaker 6: go together somewhere.
• 3:25
  Speaker 1: Yes, you guys all go together somewhere. I don't know. Like,
• 3:28
  Speaker 1: don't hold me to it, but I know there is
• 3:29
  Speaker 1: something that is stocked for you on the Flight Centre website.
• 3:32
  Speaker 1: Go check it out for yourselves.
• 3:33
  Speaker 6: Do you know what I like about that is that
• 3:35
  Speaker 6: So often we say, I'm going to save my money
• 3:37
  Speaker 6: and I'm going to use it for travel. And then
• 3:39
  Speaker 6: you save and you save and you save. And it
• 3:41
  Speaker 6: comes time to book the trip. And you say to yourself, oh, no,
• 3:44
  Speaker 6: I actually need it.
• 3:45
  Speaker 1: I actually need it. I needed this. I needed that.
• 3:48
  Speaker 1: This forces you to travel. I love this. Let's speak
• 3:50
  Speaker 1: to Mfundo Mabaso, who is the product head of Structured Lending.
• 3:56
  Speaker 1: Where do you do all of this product heading of
• 3:58
  Speaker 1: Structured Lending, Mr. Mfundo Mabaso?
• 4:01
  Speaker 8: Anel, a very good morning to you guys.
• 4:03
  Speaker 9: Morning, morning. I'm part of the home and structured lending
• 4:06
  Speaker 9: team and I'm responsible for property related finance solutions.
• 4:11
  Speaker 1: So there is a property stock fell situation that you
• 4:14
  Speaker 1: guys have going on over there.
• 4:16
  Speaker 8: That's correct.
• 4:17
  Speaker 9: We've spoken to a few groups that have gone into
• 4:21
  Speaker 9: property and want to do it together. And as a
• 4:24
  Speaker 9: finance solution, we came up with collective buying, which enables
• 4:29
  Speaker 9: a group of up to 12 people to buy a
• 4:30
  Speaker 9: home together.
• 4:31
  Speaker 1: Okay, but let's say one of us wants to pull out.
• 4:34
  Speaker 1: We're into year four of this bond that we have
• 4:36
  Speaker 1: together and this property that we own, 12 of us.
• 4:38
  Speaker 1: One of us wants to pull out or one of
• 4:40
  Speaker 1: us cannot honor the payments anymore.
• 4:43
  Speaker 4: Then what happens?
• 4:45
  Speaker 9: So we've put in a few solutions around that. So
• 4:48
  Speaker 9: you can prepay to sort of preempt anything like that happening.
• 4:53
  Speaker 9: That then doesn't put your account into arrears. Or you
• 4:57
  Speaker 9: then club together to sort of, you know, help the
• 5:01
  Speaker 9: one that is struggling.
• 5:03
  Speaker 8: And then when someone wants.
• 5:05
  Speaker 9: To pull out, it's actually a relatively easy process. You
• 5:09
  Speaker 9: send us a request. And we put you guys through
• 5:12
  Speaker 9: a process to make sure that the people who are
• 5:14
  Speaker 9: remaining can still sort of manage to pay the repayments.
• 5:20
  Speaker 9: And then we exit the person that would like to
• 5:23
  Speaker 9: go out.
• 5:24
  Speaker 1: So when we exit that person, let's say there's 10
• 5:27
  Speaker 1: of you. We exit that person. Do we then take
• 5:29
  Speaker 1: that person's fee and split it amongst the remaining nine?
• 5:32
  Speaker 1: Or is the onus on the nine to go and
• 5:34
  Speaker 1: find a 10th person to make up for the one
• 5:36
  Speaker 1: who's just left?
• 5:38
  Speaker 8: It's actually either or.
• 5:39
  Speaker 9: So if you want to remain as the nine, you
• 5:41
  Speaker 9: guys can remain as the nine just as long as
• 5:44
  Speaker 9: you guys can still manage the repayment outside of the
• 5:48
  Speaker 9: 10th person. Or you can bring someone in to cover
• 5:52
  Speaker 9: for the person that has exited.
• 5:54
  Speaker 1: Who's the property and who's on the title deed? All
• 5:57
  Speaker 1: nine of us, all 10 of us.
• 5:59
  Speaker 8: All 10, 12 of you. Okay. So it is equally
• 6:04
  Speaker 8: split amongst you.
• 6:05
  Speaker 9: There's no big brother. Everyone is equally liable for the
• 6:12
  Speaker 9: property and for the repayment.
• 6:14
  Speaker 1: What are the cons, the blind spots that people don't see,
• 6:17
  Speaker 1: but you see it because you are sitting where you sit?
• 6:20
  Speaker 9: So one of the ones that you asked is when
• 6:23
  Speaker 9: someone then says, just like I can't pay anymore, that's
• 6:26
  Speaker 9: one of the ones that we're seeing. But because of
• 6:29
  Speaker 9: the power of the collective, it's easier to cover one
• 6:32
  Speaker 9: person's repayment than just to have to cover it yourself.
• 6:37
  Speaker 9: So we see that the group actually sort of plugs
• 6:40
  Speaker 9: in that gap.
• 6:42
  Speaker 4: Okay.
• 6:42
  Speaker 1: Any more blind spots? I feel like you're holding back
• 6:45
  Speaker 1: on me here.
• 6:46
  Speaker 8: No, no, no, not at all.
• 6:47
  Speaker 9: So one of the things that we've also tried to
• 6:51
  Speaker 9: solve for is that people get paid at different times.
• 6:55
  Speaker 9: So instead of having one account, we can have a
• 6:59
  Speaker 9: split bill. So Anneli gets paid on the 15th, Tembegile
• 7:03
  Speaker 9: gets paid on the 25th, and Cindy might be paid
• 7:06
  Speaker 9: on the 30th. We will debit Tembegilo on the appropriate
• 7:12
  Speaker 9: day and Sindia on the appropriate day, as well as Anel.
• 7:17
  Speaker 1: Okay, Mbuna, one more thing. So you obviously, you have
• 7:21
  Speaker 1: a vantage point. I've been dying to use that phrase.
• 7:24
  Speaker 1: You have like a vantage point where you can see
• 7:26
  Speaker 1: a lot of things going and a lot of areas
• 7:28
  Speaker 1: that people should be investing in property-wise. If me and
• 7:31
  Speaker 1: six of my friends right now, we're sitting on money,
• 7:34
  Speaker 1: we want to invest in a property stock, we want
• 7:36
  Speaker 1: to buy an apartment, we want to buy a holiday
• 7:37
  Speaker 1: home that we rent out. Where is the best place
• 7:41
  Speaker 1: to buy right now?
• 7:43
  Speaker 9: It actually depends on you guys. So a lot of
• 7:46
  Speaker 9: people like Durban for its warm weather and beautiful people.
• 7:51
  Speaker 9: But some people love Cape Town because it's well run
• 7:54
  Speaker 9: and all the wine is.
• 7:57
  Speaker 8: Built out there.
• 7:58
  Speaker 9: And also some people like the bush.
• 8:01
  Speaker 8: So it all depends on.
• 8:02
  Speaker 9: What actually works for you and what kind of niche
• 8:05
  Speaker 9: you want to tap into.
• 8:07
  Speaker 1: So your advice is do not necessarily go for a
• 8:10
  Speaker 1: place where you're like, okay, there's lots of this. They
• 8:12
  Speaker 1: go for a place that you guys like because then
• 8:15
  Speaker 1: at least you guys get to use that property.
• 8:17
  Speaker 8: Absolutely. Especially when it's a holiday home. Okay.
• 8:21
  Speaker 1: All right. Mfunda Mabasso, give me your title yourself because
• 8:24
  Speaker 1: here they've got it wrong. Give me your title yourself.
• 8:27
  Speaker 1: How's toot?
• 8:29
  Speaker 8: How's toot?
• 8:31
  Speaker 9: It's Product Head F & B Home Instructed Lending.
• 8:34
  Speaker 1: Product Head F & B Home Instructed Lending.
• 8:37
  Speaker 4: He's such a nice man. He thought I'd have any
• 8:39
  Speaker 4: money left to debit.
• 8:40
  Speaker 1: LAUGHTER You're wonderful. Thank you. Do call it again.
• 8:47
  Speaker 4: The stock fail that my friend is in is for
• 8:49
  Speaker 4: Le Creuset.
• 8:50
  Speaker 7: What?
• 8:51
  Speaker 4: And I thought, oh man, that's crazy.
• 8:52
  Speaker 1: And now for my birthday, I got a gift of
• 8:54
  Speaker 1: Le Creuset kitchenware.
• 8:56
  Speaker 4: And now I'm just like, yeah, I think I need
• 8:57
  Speaker 4: that stock fail.
• 8:58
  Speaker 10: My husband and I are big stock fellers. He actually
• 9:03
  Speaker 10: was part of a stock fell a few years ago.
• 9:05
  Speaker 10: Him and his friends were all kind of like getting
• 9:07
  Speaker 10: married in a space of a year or two years.
• 9:09
  Speaker 10: And they opened a stock fell to help out with
• 9:12
  Speaker 10: anyone who needed a.
• 9:13
  Speaker 11: Boost for Lobola, wedding preps and all of that.
• 9:16
  Speaker 1: And it really helped.
• 9:17
  Speaker 2: Guys, Tina, we do have a stock fell, but recently
• 9:21
  Speaker 2: we've had an issue with someone with MIA with someone's money.
• 9:23
  Speaker 2: It's the rotating one. And it's my sister-in-law.
• 9:29
  Speaker 3: Oh, there's no greater shame than your recruit. Because people say, Anneli,
• 9:33
  Speaker 3: it's your person.
• 9:34
  Speaker 1: You brought them here.
• 9:35
  Speaker 4: Please call her.
• 9:36
  Speaker 1: It's your family. It's your recommendation. It's your person. How
• 9:38
  Speaker 1: are the sister-in-laws? She fears nothing, yeah? Mpoh, you're in
• 9:42
  Speaker 1: Brenwood Park in Benoni. Good morning.
• 9:45
  Speaker 11: Good morning.
• 9:45
  Speaker 9: How are you doing?
• 9:46
  Speaker 1: We are so good, Mpoh.
• 9:47
  Speaker 6: How are you?
• 9:48
  Speaker 11: I'm good, thank you.
• 9:50
  Speaker 1: Okay, what stock, fella, are you guys wielding in Benoni?
• 9:54
  Speaker 11: So I've got a stock sale at work. It's the
• 9:58
  Speaker 11: five of us. We contribute like 600 per month. And then,
• 10:03
  Speaker 11: so basically it's a toiletry stock sale. Like when I
• 10:08
  Speaker 11: say toiletry, I mean like your toilet paper, your washing soap, dishwashing.
• 10:13
  Speaker 11: So basically what you do is, the person that is
• 10:16
  Speaker 11: getting those stuff that month will just say, Paul, please
• 10:20
  Speaker 11: buy me 18-peg toilet roll of, I mean, three pegs.
• 10:27
  Speaker 11: So that person's got a six-month supply, for instance, because
• 10:31
  Speaker 11: it goes around for twice in a year because it's
• 10:33
  Speaker 11: the five of us.
• 10:34
  Speaker 1: So you only really need to restock your toiletry supplies
• 10:37
  Speaker 1: twice a year in your house?
• 10:39
  Speaker 11: Yeah, unless otherwise we've got like a big household and
• 10:43
  Speaker 11: you are using a lot of beds. But, like, if
• 10:45
  Speaker 11: you've got a small family like myself, you just use
• 10:50
  Speaker 11: washing powder and that's for a month. So, if I've
• 10:52
  Speaker 11: got six of them of three kgs or five kgs,
• 10:57
  Speaker 11: I mean, that's enough.
• 10:58
  Speaker 1: You know, yesterday, when we were talking stock fells, every
• 11:01
  Speaker 1: five minutes, Cindy would just say, handy, handy.
• 11:04
  Speaker 7: Yeah.
• 11:05
  Speaker 12: Yeah, so.
• 11:06
  Speaker 1: It's true, though.
• 11:08
  Speaker 11: You go and take a lot. You ask that person,
• 11:10
  Speaker 11: please buy for me and take a lot or whatever place...
• 11:13
  Speaker 11: I saw a special, please go there, shop right and
• 11:16
  Speaker 11: buy me this. 12 of them, Colgate, 18 of them,
• 11:20
  Speaker 11: whatever packs, yeah.
• 11:22
  Speaker 7: So you're sorted.
• 11:23
  Speaker 3: No one would have a better day than Cindy looking
• 11:25
  Speaker 3: at 12 bottles of Domestos.
• 11:27
  Speaker 4: Ain't handy, Andy.
• 11:29
  Speaker 6: I know it gets chaotic at macro at the end
• 11:32
  Speaker 6: of the year, but it's one of my favorite times
• 11:34
  Speaker 6: to go is like in like December and everybody has those.
• 11:37
  Speaker 1: They don't even have the push trolley.
• 11:38
  Speaker 6: They have the pool trolley, the one that's like a
• 11:40
  Speaker 6: flatbed and they're just.
• 11:42
  Speaker 1: All pulled up and they've got a lesson.
• 11:43
  Speaker 4: There's a lesson.
• 11:44
  Speaker 6: You're ticking off 20 sunlight bars. 30 floor washers.
• 11:49
  Speaker 1: I'm like, where do I sign up? I'm doing this.
• 11:53
  Speaker 4: I'm telling you.
• 11:54
  Speaker 1: Okay, Mbali, we'll chat to you after Tempe Gile does headlines. You,
• 11:58
  Speaker 1: on the other hand, I need for you to weigh in.
• 12:00
  Speaker 1: Do not hide it from us.
• 12:02
  Speaker 2: Okay?
• 12:02
  Speaker 1: Do not keep it from us. We also want to
• 12:04
  Speaker 1: be as prosperous as you. What stock, pal, are you
• 12:06
  Speaker 1: currently part of? You're like on a left crusade.
• 12:09
  Speaker 8: Yep.
• 12:09
  Speaker 1: Exactly.
• 12:11
  Speaker 10: Exactly.
• 12:14
  Speaker 1: Every day is a school day. Hey, ring the school bell. 011-8838-947.
• 12:18
  Speaker 1: What stock, fella? Are you part of? Send us a
• 12:21
  Speaker 1: voice note as well. 084-0000-947. And also, much like I
• 12:27
  Speaker 1: asked our fellow there from the bank, Mr. Mfundo, what
• 12:30
  Speaker 1: are the blind spots? What are the cons to it?
• 12:34
  Speaker 1: What has gone wrong? Let's don't just sell the rosy part.
• 12:38
  Speaker 5: My husband's cousin was part of a stock fell and
• 12:41
  Speaker 5: she spent all the money.
• 12:43
  Speaker 1: It got really bad.
• 12:44
  Speaker 13: So we gave her the money so that she could
• 12:47
  Speaker 13: pay these people. We have a stock fell and it's
• 12:50
  Speaker 13: called Black Friday. It was set up to be able
• 12:53
  Speaker 13: to have extra money around the time of Black Friday specials.
• 12:57
  Speaker 13: So you can really do with the money. whatever it
• 13:00
  Speaker 13: is you want to get.
• 13:01
  Speaker 7: Listen, I just want to know, does anybody have a
• 13:02
  Speaker 7: diesel or a petrol stock? So this month you get
• 13:06
  Speaker 7: to fill up your tank.
• 13:07
  Speaker 1: Next month you get to fill up your tank. Girl,
• 13:09
  Speaker 1: I'm with you.
• 13:09
  Speaker 8: Come on now.
• 13:10
  Speaker 1: Girl, I am with you. You are spitting bars right now.
• 13:14
  Speaker 1: Get on it, guys. Right now, let's do a petrol
• 13:17
  Speaker 1: stock film. Mbali, you and Benoni. Good morning.
• 13:20
  Speaker 7: Good morning, Anananda Club.
• 13:22
  Speaker 1: Morning, Biles.
• 13:22
  Speaker 5: How are you?
• 13:23
  Speaker 8: I'm good. Thanks.
• 13:25
  Speaker 2: How are you?
• 13:25
  Speaker 1: We're great. So you are part of a property stock film.
• 13:29
  Speaker 8: Yes.
• 13:30
  Speaker 5: Tell me more. Okay, so this is one that you
• 13:34
  Speaker 5: don't just do with anyone because it involves a lot
• 13:38
  Speaker 5: of money. So I hope you're ready with the numbers just,
• 13:42
  Speaker 5: you know, to listen to all these numbers. So it's
• 13:46
  Speaker 5: a group of five people. The conditions are that you
• 13:49
  Speaker 5: must have an active home loan. It must have an
• 13:51
  Speaker 5: access bond. If you've got a spouse, they must co-sign.
• 13:55
  Speaker 1: If they've got a what? A spouse, they must co-sign.
• 13:58
  Speaker 1: So active home loan... An excess bond, what?
• 14:03
  Speaker 5: If you've got a spouse, they must co-sign the contract.
• 14:06
  Speaker 5: So for two and a half years, it's the cycle.
• 14:11
  Speaker 5: In the first year, each person must pop out every
• 14:15
  Speaker 5: month 14,000 rands.
• 14:15
  Speaker 8: 14?
• 14:16
  Speaker 5: Yes, towards one person. So if you have an active
• 14:22
  Speaker 5: home loan, let's say your home loan is 15,000 rands,
• 14:25
  Speaker 5: you still continue to pay your home loan. But to
• 14:27
  Speaker 5: show that you can actually pay the other people when
• 14:30
  Speaker 5: your turn comes, you also pop out your 14,000 rands.
• 14:35
  Speaker 5: So you have like, now you're putting in, let's say, what,
• 14:40
  Speaker 5: 29,000 rands on your own bond.
• 14:41
  Speaker 2: Okay.
• 14:44
  Speaker 5: That 14,000 rent times five gives you 70,000 rents. And
• 14:48
  Speaker 5: that's what you pay towards your home loan every month
• 14:51
  Speaker 5: extra for six months. And that's like 420,000 rents in
• 14:55
  Speaker 5: six months that you've additionally paid on your home loan.
• 14:58
  Speaker 1: On your own home loan, right? So the money is
• 15:01
  Speaker 1: basically going to a safe place. And then.
• 15:04
  Speaker 5: And then in the second year, because you can only
• 15:07
  Speaker 5: do two people in one year. And then in the
• 15:09
  Speaker 5: second year, those that had, you know, the patience to wait,
• 15:13
  Speaker 5: they get a 10% escalation on their contributions. So now
• 15:17
  Speaker 5: we're contributing 10% extra, which is 15,400. And that is
• 15:19
  Speaker 5: 77,000 rands towards your home loan. So it was worth
• 15:22
  Speaker 5: the wait.
• 15:22
  Speaker 8: Okay.
• 15:22
  Speaker 5: And that is like 462,000 rands for the six months.
• 15:24
  Speaker 8: So.
• 15:32
  Speaker 1: Every six months, somebody amongst the five of you gets
• 15:36
  Speaker 1: R460, 000 in cash. R420, 000 in the first year.
• 15:40
  Speaker 5: And then those that are in the second year, they
• 15:45
  Speaker 5: will get like R462, 000 for the six months.
• 15:49
  Speaker 8: Oh.
• 15:50
  Speaker 5: And then so what you've done is that you can
• 15:54
  Speaker 5: actually reduce your interest on your home loan by a
• 15:59
  Speaker 5: lot of money.
• 16:00
  Speaker 1: Yeah, you pay it off quicker.
• 16:01
  Speaker 6: Yeah.
• 16:02
  Speaker 1: I actually heard about this, that there are actually even
• 16:05
  Speaker 1: policies where you can take out like a 5,000 rand
• 16:08
  Speaker 1: policy a month, right? And brokers, please keep me honest here.
• 16:12
  Speaker 1: There's a policy you can take out like a 5,000
• 16:13
  Speaker 1: rand policy a month and then in five years, that
• 16:16
  Speaker 1: policy is like at 700,000 and you take it and
• 16:19
  Speaker 1: you throw it into your bond so that you can
• 16:21
  Speaker 1: chase to finish your bond quicker. This is a lot.
• 16:24
  Speaker 1: This sounds like that's what you guys are doing, but
• 16:26
  Speaker 1: now you guys are doing it amongst each other.
• 16:29
  Speaker 8: Yes.
• 16:30
  Speaker 5: So, I mean, I managed to save like 720,000 of
• 16:35
  Speaker 5: my bond. Of course, I was paying also a little
• 16:36
  Speaker 5: bit extra. But when I calculated the savings was like
• 16:39
  Speaker 5: 720,000 rand saved interest on the home loan.
• 16:43
  Speaker 8: Okay.
• 16:44
  Speaker 1: And Mbali, who came up with this plan? Because it
• 16:47
  Speaker 1: sounds like you guys have an actuary amongst you guys.
• 16:51
  Speaker 5: Yeah we've got a CA amongst us and you know
• 16:55
  Speaker 5: a friend came up with us so yeah that was
• 16:58
  Speaker 5: quite a great plan we're.
• 17:00
  Speaker 3: Just a bunch of DJs even you Mbali you sound
• 17:03
  Speaker 3: like you're the treasurer of the stock fair what's your
• 17:06
  Speaker 3: position are you secretary what do you.
• 17:09
  Speaker 7: Do no there's no treasury or whatever we're just a
• 17:12
  Speaker 7: group of friends we've done it we've done it once
• 17:16
  Speaker 7: the second time around we did it you know we
• 17:18
  Speaker 7: just reduced the amount and Now you want to go
• 17:21
  Speaker 7: again and you're like, oh, guys, 14,000 rands is a
• 17:24
  Speaker 7: lot of money.
• 17:25
  Speaker 5: It needs a lot of discipline.
• 17:27
  Speaker 1: Yes, absolutely. But if you look at your life, and
• 17:31
  Speaker 1: I'm sure this is how you also justified it. If
• 17:35
  Speaker 1: you look at your life and you look at the
• 17:36
  Speaker 1: silly things that you buy every day, like, you know,
• 17:39
  Speaker 1: a smoothie there when you actually didn't need one. You know,
• 17:42
  Speaker 1: like a burger there when you actually could have just
• 17:43
  Speaker 1: packed food from home, from the grocery store. Like, just
• 17:45
  Speaker 1: take all of those little things. Look at your life
• 17:47
  Speaker 1: in a month. In a month, there's just 10,000 rands
• 17:51
  Speaker 1: that you are just spending on nothing. There and then.
• 17:54
  Speaker 1: And you could have even things like driving to that
• 17:56
  Speaker 1: place when you didn't need to go there. And that
• 17:58
  Speaker 1: took away 400 rands of your petrol. If you sit
• 18:00
  Speaker 1: down and you look at that discipline, you realize that
• 18:03
  Speaker 1: you can be part of a stock for like Bombay.
• 18:06
  Speaker 5: That's so true. And once you're done with that, your
• 18:10
  Speaker 5: life is never the same. Trust me.
• 18:12
  Speaker 1: No, no, we can hear it, girls. Thank you so much, Mbali.
• 18:15
  Speaker 1: This is what our parents meant when they said, the
• 18:17
  Speaker 1: friends around you will determine how far you go in life.
• 18:20
  Speaker 4: Show me your friends.
• 18:20
  Speaker 1: Me, I'm here, friends with DJs. I can get, I
• 18:23
  Speaker 1: get getting free into a party, but it ends there. Mac,
• 18:26
  Speaker 1: you're in Pretoria. Wrap it up for us.
• 18:29
  Speaker 8: Morning.
• 18:30
  Speaker 12: Good morning, Anneli and the club.
• 18:32
  Speaker 1: Good morning, Mac.
• 18:33
  Speaker 12: How are you? How's it, guys?
• 18:34
  Speaker 8: You?
• 18:36
  Speaker 14: Yo, last year, 2025.
• 18:38
  Speaker 8: Yeah.
• 18:40
  Speaker 14: So four of us, yeah. Three of my colleagues, one
• 18:44
  Speaker 14: lady I know from Red Bank. We're giving each other money,
• 18:50
  Speaker 14: about 2.5 every month. So we have a quarterly for
• 18:53
  Speaker 14: the year. First round goes, clean sheet. Second round goes,
• 18:58
  Speaker 14: clean sheet. The third round, the lady I recruited disappears.
• 19:03
  Speaker 1: With the money.
• 19:05
  Speaker 14: She don't know how much to.
• 19:06
  Speaker 12: Pay anyone and the three other guys are like Meg
• 19:11
  Speaker 12: you're the one who brought this person you must make
• 19:13
  Speaker 12: sure we get our money we want our money I
• 19:16
  Speaker 12: was stressed for the longest.
• 19:18
  Speaker 14: Time and you know.
• 19:21
  Speaker 12: It's a problem same like the lady who made the
• 19:24
  Speaker 12: VN just now and said sister-in-law disappeared with people's money
• 19:28
  Speaker 12: I had that kind of a situation did you find her?
• 19:31
  Speaker 14: Yeah You know what happened there?
• 19:35
  Speaker 8: Yes.
• 19:36
  Speaker 14: I decided, let me take my money and pay the guys.
• 19:39
  Speaker 1: Yeah.
• 19:39
  Speaker 14: Shop, I pay them. One time I wake up in
• 19:42
  Speaker 14: the morning, I'm like, no, I'm driving to a bank.
• 19:44
  Speaker 14: I'm going to look for her because I know where
• 19:46
  Speaker 14: she works.
• 19:47
  Speaker 1: Yes.
• 19:47
  Speaker 8: Guess what?
• 19:48
  Speaker 4: I find the lady.
• 19:50
  Speaker 6: Lease. And?
• 19:51
  Speaker 12: And one time, I want my money now because.
• 19:54
  Speaker 14: I already paid those people and we're taking you off
• 19:56
  Speaker 14: the stock firm.
• 19:57
  Speaker 12: Luckily, I don't know why she wasn't paying or what,
• 20:00
  Speaker 12: but she immediately transferred my money there and there.
• 20:04
  Speaker 14: And I told her, never again. I'm inviting you in
• 20:06
  Speaker 14: something of this nature.
• 20:09
  Speaker 1: Were you romantically involved with this lady at any point
• 20:12
  Speaker 1: in time?
• 20:15
  Speaker 8: Well, yes, yes, yes.
• 20:17
  Speaker 12: That's how we actually get to know each other. But
• 20:19
  Speaker 12: I think she was also taking advantage of that because
• 20:21
  Speaker 12: I was quite sweet with her. But when it involved
• 20:24
  Speaker 12: the money, I.
• 20:26
  Speaker 14: drop the flirtiness and everything else.
• 20:27
  Speaker 8: I was like, my sister, my sister.
• 20:32
  Speaker 1: Yeah, your senses, your senses were distracted. And then you
• 20:37
  Speaker 1: realize how much, how much your senses being distracted is
• 20:40
  Speaker 1: going to cost you. And you came back and you
• 20:43
  Speaker 1: were like, ah
• 20:43
  Speaker 8: Ah, ah, ah.