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The indebted young SA professionals

20 June 2014, 13:16

Most young professionals do not know how to handle finances.  We put ourselves in situations that have a huge impact in our lives for the next coming 5 years or so after we go professional.

We get into the professional industry with high hopes, believes, enthusiasms but most importantly positive attitude.  Let’s look at a life of a black child after tertiary with a huge debt of fees behind them.  You walk into whatever industry you find yourself in with that debt behind you but in your head you are happy, you are settled.

You see yourself in the next 5 years with a car, nice apartment and all things good that should repay those sleepless nights of studying.

Below are facts about start up salaries of young professionals in South Africa:

1.    Government internships/ learnerships                            R5 000.00

2.    Private Companies internships                                         R5 000.00

3.    Private Companies permanent posts                               R7 500.00

A young woman/ guy walks out of the graduation centre with their degree and what they will mostly get are the figures above and with that first salary; it is enough at that time.  It looks satisfying.

A first graduate at home with that income with a family to take care of, not that it is enough to do such but you feel it is your responsibility to do so.  No one is telling you to take it easy until that time that all comes down and you realise it was not enough.  I am no better than anyone to lecture about this but this is something that is culture among black professionals.

The statistics that came out that South African young professionals are indebted is not a lie, let alone a myth.  My advice, trade easily and step in the industry looking out for you.  The private industry is not welcoming and their money is also “private”.  Don’t expect anything much from them than just helping you be able to afford a loaf of bread twice a month but the most important thing you can take is work hard and keep pushing to get there. 

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