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Frugal Sbusiso 🇿🇦

27 May, 8 tweets, 5 min read

Getting rid of the things that drain your energy in your business/freelancing - a #SageForSmallBiz thread. Everyone has those things that suck their time and energy. But you don’t have to allow it to do that!
#Sponsored

Why not look into automating these things, to give you more time for the things that’s important? Here are some of my top tips for automating those brain-draining tasks:
#SageForSmallBiz #Sponsored

Schedule social media posts - yes you need an online presence, but take an afternoon every month to schedule posts. You don’t need to wait for 12:30 pm every day to post something! #SageForSmallBiz #Sponsored

If you have recurring invoices, use software that automates sending those invoices. Initially, I had to set reminders on my phone - what a nightmare! Make it easier on yourself! #SageForSmallBiz #Sponsored

Use online software to keep track of your timesheets - and invoice from those. I know pen and paper are awesome, but we forget, lose papers, and need a track record if requested. #SageForSmallBiz #Sponsored

When you have business expenses, digitise receipts and slippies - scan them in. Historically, I lost quite a few deductible expense slippies. That means, as a freelancer, I needed to pay tax on the amount not accounted for as it was full income now! #SageForSmallBiz #Sponsored

Have some business templates ready to send your customers. These include an onboarding sheet, an informational sheet about things required (e.g. for building websites) and facts around what you’re doing. #SageForSmallBiz #Sponsored

If you need any of these, then just go to the folder and send the file via email - and viola!
Try and make your life easier - avoid the brain drain things. #SageForSmallBiz #Sponsored

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Frugal Sbusiso 🇿🇦

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28 May

Frugal's weekly journal journey round up. A #Thread.
1. Intentions are powerful. Align your intentions with action and don't stray

2. Build friendships, but not at a cost of existing friendships. People who journeyed with you know you. And accept you.
Hold them close.

3. Tell people when they overstep your boundaries. I told someone I don't want to talk about my previous employer.
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13 Oct 20

#THREAD should I buy my property in a trust, company or in my own name? Well, the question is loaded and biased.

If you're not planning to sell the property ever, it might make sense to put the property in a trust.
As a trust never dies, you can transfer the wealth to your kids without the issues of estate duties.
A trust is taxed at 45% for income, so you need some help with planning this!

If you're thinking of running property as a business, it might make sense that you put the property in a company. Though taxed at 28% property tax, if your personal tax bracket is higher, then you might have the ability to grow your money with a lower tax bracket.

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The offer to purchase: a thread:
When you like a property and you consider buying it, you need to have bargained for a price lower than the asking price. Remember, people push up the price to be above market value.

Once accepted, you need to sign a legally binding contract. This is the offer to purchase (OTP). You need to make sure you're covered, as the OTP from the agents are biased towards the seller, you need to consider a few things

Firstly, try and negotiate that you appoint the electrician to do the COC - this is a certificate to prove that the property's electricity is compliant with electrical standards. I have historically reported an electrician who issued the COC illegally.

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16 Sep 20

#THREAD GET FILTHY RICH NOW!
We have this obsession with instant things:
Instant riches
Instant success
Instant noodles
Instant coffee
Instant cash
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Sadly, anything worth something in life takes time. Think about relationships. We want to be married and happy. But we need to court and chase that person to make it worth the catch.
It's the same with money. We need to pursue the cause with vision.

When you invest, don't invest because everyone is investing in it. You're not everyone.
Invest knowing that you might need to keep it invested for the long run - and know your boundaries!

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Frugal Sbusiso 🇿🇦

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5 Sep 20

#THREAD #RENTING Where should I rent a property? Shouod I rent a property? What should I consider when renting?
Well this is different for every person. Yes,you need safety,security, comfort and nayope.
But think about what you actually need.

For example, don't rent a 12 bedroom home it a bachelor flat will do. Always live smaller and cheaper to what you gan do financially.
Rather invest that money and spend it later on important things like coffee.

Rent payable is not everything. Weigh up money spent on commuting, lifestyle to eat your money (close restaurants, shebeens, schools, etc), security, pets, pests, drugdealers, perception, etc.
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Frugal Sbusiso 🇿🇦

@FrugalLocal

30 Aug 20

#Thread Getting the best interest rates for your home loan.
The bank has a secret list of things to determine your interest rate. The more information you give the bank, the lower could your interest rate potentially be!

They also check your credit score - if you're able to repay money to your mashonisas (the banks)
frugallocal.co.za/2019/12/30/1-b…

They also consider your age, relationship status and how much coffee you drink on a daily basis.

They also look at your work history. In my opinion, if you've not been job hopping, they tend to favour you.

We know the bank looks at your highest qualification.

Read 6 tweets

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