How Ntando paid off her home loan in 10 years: Enjoy youth day

Dear Member

Please send this to the young people you love
Nothing is more pleasing than to receive an email from one of you explaining how you applied what I “preach” in my books and how it has paid off for you. I received this email from Ntando. Ntando is 34 years old and she bought her first home at the age of 24. I met Ntando 7 years ago at the launch of my first book. She had bought her townhouse 3 years earlier. After the launch, she came to speak to me about how she had never thought about paying off her townhouse earlier. She said she was going to do her best to apply my suggestions so she could pay it off in 10 years. I hope other young people learn from her. Please forward the email to the young people you love.


HI Phume
I’m so glad I met you at the launch of your book. I made up my mind after reading your book that I was going to pay off my home in 10 years. I just finished paying it off now and I’m so glad I did but I must say it was not easy. I wanted to share with you how I went about it.

I have summarised Ntando’s email as follows:
Ntando was renting a flat with her friend for about a year before buying her own property. She says she felt it was better for her to use the money she was using to pay rent to service her own home loan. While she was renting the flat, she started saving money so she would be able to pay a deposit for her first home.

  • She also paid up front the transfer and registration fees
  • For the first two years, she paid exactly what was due. She says in her email “I was not earning much at the timeso that is all I could afford to pay
  • As she got salary increases at work, she started increasing the instalments. She writes “ – at first by just R100/month, then another R100/month”
  • “Every 12 months I would review the account and work out how much to increase the instalment by”, Ntando continues in her email;
  • At some point when I was unemployed I renegotiated for the instalment to revert to strictly what was payable. I leased out the house and was able to cover a big portion of the bond repayment, levies and taxes.
  • Ntando went back to live with her mom while she was unemployed. She was lucky to find another job and the new job had a better salary. She continues in her email
  • “As I got paid even better, I increased my loan repayments even more”.
  • In between I did experience a couple of financial ditches where I loaned from the access bond. I got a bit comfortable with the “reserves facility” until I forced myself to do without it.”
  • In 2010, I was ready to settle and decided not to, as I wanted to throw my mother a memorable celebration honouring her fifty years of life and our (her children) appreciation of her role in our lives. Even then, I still kept the settlement goal at 10 years and not more;
  • I went back to the bank to renegotiate the interest rate. The request was declined on the basis that capital was not heavy enough;
  • In the last four months building up to the deadline, I started enquiring about settlement procedures;
  • on 01 March I walked into my bank, withdrew the settlement funds and paid off the balance as quoted

Ntando continues her email; On this journey I encountered a couple of valuable tools that I put into good use. These were:

1. Learning as much as I could about the loan facility (over the years though, as I engaged into the contract without much knowledge), knowing the avenues of manipulation available to me, etc.
2. Your advice in the background. Reading your books and attending your talks (and knowing you) was a catalyst for me not to lose track while ngiphusha le ngolovane!(pushing hard to achieve my goal)

I have also shared my statement with my younger sister who is starting out (just one year out of varsity now), as well as an older one (married with children and own career, but values me dearly in her life). Not only did I do this for me, but for them too. Surprisingly, and you too – so you may not be short of manifestations!J

Let me tell you a funny story. I have always had excuses as to why I may not be a parent yet.

First one was that I was renting a flat in Braamfontein, staying on the 5th floor of the building. My wish was to have my little ones playing and running around a safe yard with a beautiful spacious lawn. Then God granted me this townhouse, with just that!
The Second was that I needed to have medical aid since I was still employed as a contractor with no benefits at the time. Then God brought me to this company, where my package had medical aid and provident fund.
The third then became “I have to be married”, and God made it happen; kwaphela amaqhinga! (no more excuses)

With the home loan settled, I can safely say, the money I used to spend paying for the home loan can now buy nappies and milk formulaJ

There goes my story!

Yes Mam you may brag

Awushumayeli ivangeli elingekho! [your preaching is indeed bearing fruit] LOL

Lots of love and appreciation

I am eternally greatful to Ntando for allowing me to use her story and her name too, uThixo akubusise. I have nothing else to add. I hope you too will be writing to me about your beautiful story. For the record, Ntando is only 34 years old so it was fitting for me to write about her in June, the month of the youth. You are richest while you are still young and you have no kids or spouse to worry about. I hope you too will use your youth to enrich yourself and your future familyJ . I want you to note that Ntando encountered difficulties during the 10 years but she stuck to her goal. People who make it don’t make it because they don’t have challenges, they make it despite the challenges. If anything, challenges should make us stronger and more determined, not weak. We should therefore not use our problems as excuses but we should be looking to see how we can make it despite our challenges. I have no doubt in my mind that Ntando and her family have a financially secure future ahead of them. What a happy place to be to be young and owning your home debt free. I also know that Ntando is still furthering her studies even though she is married. I wish other young people would learn from her.

To learn more about buying a home and paying it off sooner than the 20 years that banks normally give you to pay off a home loan, please read Chapter 10 entitled Why I want you to own a home ASAP from the book From Debt to Riches.

If you have successfully applied any of the tips and suggestions in my books and you would love to share your story to help all of us, please do write to me at

Enjoy youth day J

PS: Many people ask me if they can share my articles with others or use them to educate others. Please go ahead and share. You can also copy paste the articles and put on your FaceBook page. Knowledge is Power and I am writing these books and articles so we empower and encourage each other.


Thank you for this wonderful article.

My dad used to say “tshelete ga emele mohlareng” translated in English that “money does not grow on trees”.

As I started working I learnt the art of saving. I never had difficulty in saving even when I was in a junior post. As I got promotion I managed to save at least R400.00 a month, do some investments for short term and medium term as well as for long term.

This year I managed to build a house of my dreams, 4 bedrooms, 2 garages, 2 bathrooms, dining room and a lounge.

I don’t have a car of my own, but I’m sure someday I will buy a car of my dreams. I am using a bus to and from work.

It takes lot of dedication, hard work and commitment to save.

I’m grateful to my dad



Thank you for such inspiring words of wisdom. What you said to your nephew is what my Aunt said to me when I wanted to buy a car and rent a flat. When I was 26 years I bought a site in a location instead of renting. At 28 years, I got involved in a relationship which led me to be a mother of 2 and my partner passed away. That forced me to move away from his house because we were not officially married but that didn’t stress me much because I had my own house and I was driving my own car. I am teaching my niece and young ladies around me to own their own property and to be financially independent.

God bless


I thoroughly enjoyed reading your article.

We share the same views and as a qualified accountant and broker I talk to final year University students.

I tell them whether you earn R 5000 or R 10000 or R 30 000 per month you will have the same problem all the time. You will never have enough money.

The R 5000 person tells me how difficult it is to pay rent , the R 10000 person tells me how difficult it is to pay the bond and the R 30 000 tells me how difficult it is to pay the holiday house. Nothing changes until you commit yourself to savings.

Money makes Money …start saving from day 1 and don’t over capitalize. Only create good debt . Like a bond . Don’t use credit cards to

Pay for the matric dress.



Liakat Ali Sonday


Authorised Financial Services Provider

Hi Phumelele,

Thanks for the very powerful gift. By the way I am not a mother, but I passed it on as advised. I am thanking you because my wife was excited about your newsletter. I only have to see her implementing it.

You are doing sterling work. Keep on keeping on.

Kind Regards

Bongi Ndimande


Ndidlakamti Projects cc


Are your employees struggling to make ends meet? Are you getting garnishee orders every day? They are not alone – there is an estimated 3 million garnishee orders in our country and some of them are obtained fraudulently. The cost of living in South Africa is much higher than the rate at which our salaries grow. High cost of electricity, high cost of food prices, toll fees, high cost of petrol, high school fees, high cost of medical care, etc… We all need to be  money smart. Invite me to come and address your staff and hopefully, you can avoid a strike or low staff morale due to financial problems. Send me an email at

From Debt to Riches

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Warm regards


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