Student Defeated by Debt Shares Reality of Phone Contract in TikTok Video

• A young man gave a brutally honest account of his experience after being approved for a credit service
• The student became candid as he gave people a breakdown of the monthly expenses he has accumulated
• Online users were fascinated as the man warned others about the trap he fell into in pursuit of a phone

A TikToker shared the hard lesson he learned about money. The young man gave his honest experience after getting approved for a phone contract.

The video of the young man's candid account about managing debt received thousands of likes. People commented on the video, as many could relate to the struggle he faced.

In a TikTok video by @patris6, a young man showed people that his finances are in shambles. He said he regrets getting the phone on contract because he is no longer able to enjoy his allowance and spoil himself. He revealed that his mom sends him money every month, but he gets hit by debit orders as soon as his money reflects. He said, "ke phela dikoloto. (I am living for debt)"The young man said he desperately wanted the phone, which was worth R7,000, but he had been paying for it at R400 per month. He said he doesn't live a soft life.He revealed that he has other accounts with R1 700, Virgin Active, TFG and Vodacom where he owes R900.

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South Africans related to young man in debt

People commented that they could see that the man regretted getting the phone on credit. Capitec Bank adivises that when build credit, it is important to pay accounts on time as late payment affect one's credit score. Peeps commented on the video, sharing their own stories about being ruined by credit. Watch the video of the man talking about his debt issues:

official_sandiile wondered:

"How did he manage to get so much credit as a student 😭😭"

TsholoThupa added:

"Loadshedding saved me...I remember sitting in front of a computer ko Istore kere ke reka the latest iPhone, then boom loadshedding. That's when I knew my ancestors were trying to tell me something... I left the shop immediately 😭🤣

worldwidesteppa.04 was amused:

"Never thought I’d hear 'ke phela dikoloto' from someone my age 😭😭. Bruh! That’s my mom’s line 😭💔 "

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Miss_Vio🦦❤ shared:

"I finally paid off my TFG account. 😭 Ke ikolota celebration enngwe e serious. 😭😭 Congratulate me, it was tough. 😔"

Fafie_4 added:

"The way I run when I hear, you can open an account from a shop. I hate owing people, I even owe myself R2500, and I have no peace at all."

mogale commented:

"My mom told me never and never open any account, 25, and I don't even know gore credit score yeka e emi ko kae."

Ashan Packtori advised:

"Buy a cellphone, cash! Buy a cellphone with cash! Save for a year if you have to, but buy it cash!"

Other Briefly News stories about finances

• A financial adviser went viral after she reviewed the finances of a high-income earner with money problems.
• The detailed payslip of a teacher left people floored by the unexpected salary reveal.
• South Africans were fascinated by an American who moved to South Africa and shared how much they spent when compared to the US.

Source: Briefly News