Yahoo boys share their struggle with becoming broke after spending way too much on frivolities

In a series of viral posts on social media, several former "Yahoo Boys" – a term used in Nigeria to describe individuals involved in online fraud – have come forward to share cautionary tales of their experiences with sudden wealth from
cryptocurrency gains and other ventures, followed by financial ruin due to reckless spending and lack of proper financial planning.

The revelations, shared on social media by Sir David Onyemaizu, aim to offer lessons on the importance of money management and financial responsibility.

In one post, a man recounts earning $100,000 from Bitcoin trading between 2020 and 2021, only to face financial struggles shortly afterward.

Despite once having up to eight Bitcoins, the individual admits that he now has nothing to show for it. He reflects on the notion that "money not worked for" often leads to wasteful spending, emphasizing the importance of valuing
legitimately earned income. “Calculate the price of BTC from 2020 to 2023 October, then you will get the price. 8 BTC ooo,” he writes, reflecting regret over lost opportunities and poor choices.

Another post features a former "Yahoo Boy" who recalls spending lavishly after his sudden rise to wealth, even renting a luxury home in the upscale Lekki area of Lagos. However, by early 2023,reality set in, and with no stable income source,
he returned to his hometown. He warns others about the pitfalls of irresponsible spending, noting, "Even the money you invest when reality sets in, you go pull out that investment to settle problems and bills."

The final message comes from an individual who lost his car, home, and relationships due to his financial downturn. After spending most of his newfound wealth in 2021 on hotel stays and luxuries, he now struggles to make ends meet.

Facing eviction, he reflects, “If I see 5k naira in my account like this, I will be so happy to tell the rate at which I’ve suffered.”


Read below………………………..

Understanding financial management will make you sustain wealth for years. It will guide you to build wealth securely, not just invest aimlessly.


Extravagant spendings and living a lavish life is the reason why most of them return to trenches

Karma doesnt exist, and life doesnt know the diff between legal and illegal wealth, so there's nothing like "suffering the consequences of their actions" in this case


Say No to Yahoo but, Financial Management is key.

As a former Y! Boy, I can relate.

So painful!

I feel it's nature's way of punishing you for all those funds that was illegally picked.

I dislike yahoo with passion

ObalendeCMS:
As a former Y! Boy, I can relate.

So painful!

I feel it's nature's way of punishing you for all those funds that was illegally picked.

If u b yahoo boy
Then pj tech , reality kings etc are all yahoo bosys on nairaland I understand una just no like show off on nairaland , na y una dey use another tactics for nairaland abi carndidlaydid

"My benz"is gone...Not even my house is gone but benz. .

See example.

Cc

Front page please

I get one currently BTC investment man see like 100 meters but Omo first thing he did na to relocate to lekki but now everywhere don red na small travelling bag e carry come back come dey squat with him mama
Later the go come dey drop qoute like if e never do you advice go full your mouth 😂😂

Lol, instead of investing their money into real businesses that'll give them reliable returnes, and not depend on scamming people they chose to waste it lavishly.

The curse of the criminally mind.

This story sweet me as just last month one guy tried to scam me out of my hard earned money on paxful, a giftcard I got for an art commission I tried exchanging for btc, naso dispute insued and the moderator ruled in my favor and their account was banned.

Make I see better update chop am.

Wealth is largely a spiritual thing with some physical representation. They forgot how they plused their hustles and all that.

Some of their victims committed suicide, some lost their jobs, some lost their sanity, how will such money last

Here for the yahoo boys' money mismanagement lamentations

inside life

Be kind to people... God will be kind to you too.
Its just pure luck and nothing else. If you go broke ask people for help

Yahoo boy talk say na "I'm alive standing by grace of God"..... Nigerians!!!!!!!

Proverbs 13:11
Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase.

The word of God is alive and active.

kkins25:
Yahoo boy talk say na "I'm alive standing by grace of God"..... Nigerians!!!!!!!

omo boys de deep hand,if u survive thank God,u tink say na by update boys use collect all those ones, body ip involve and na strong jazz, no be all this small traditional things that don't have effect later run,this guys de deep hand

ExAngel007:
Yahoo boys share their struggle with becoming broke after spending way too much on frivolities


Read below………………………..

LEGIT MOINEY is the best.... thats why i am Happy i made all my money legitimately , today i live in the WESTERN world with my FAMILY, for years now; i sleep n wake with out fear or expectation of LAW enforcement ANYTIME or DAY.. back wen i was at home, i WORKED as ACADEMIC STAFF in HIGHER INSTITUTION , but i SELL CARS back to back.. my STUDENTS EVEN GAVE me "YAHOO LECTURER" as nick cos the PLACES they find me, i no dey BEHIND these HKN BOYS, i spent every dime with SENSE but i ball n be small too, they even gbe mi jaiye.. they were my most CUSTOMERS/CLIENT dem no dey price, they jus Pay so i made sure i had good CLEAN RIDE as DEALS.. LEXUS, VENZA BMW, BENZ were my market products for them. i usually gave dem my ADVICE, that u can use COOPERATIVE money to BUY CAR but u cant use the COOPERATIVE MONEY for its MAINTENANCE .. Meaning its easier to see any HUGE money to buy car but think of how to MAINTAIN it if no such income every time

Caleycash:
And you say it's clean money when you actually knows the source?, you're deceiving yourself!

So you think you never Touched Bløọd Money before? Make i because of say Customer Do ritual , make he buy my Goods and make he no pay? NA CHARITY I dey RUN? abi RITUAL money no Full BANKS?

Caleycash:
I know bro... my point is no clean money anywhere, so forget that legit money talk, even our politicians all na criminals!

We all know MONEY is the root of all evil. My point is ; if we can Legitimately get it, there is PEACE of MIND & less no adverse effects later

Easy come Easy go.. Money itself is a spirit

Lack of Financial Literacy, Lack of Ambition

thier job is based on faith and believe.
when they cashout big they have this mindset that it would keep coming....
when you hit big dont feel too excited
dont cast it or do anything that would make people know you have lots of money...
stay that same house , jump that same bike etc
they start thinking what you would do with the money....
just imagine the one that collected 8 btc
imagine if he survives on 2btc and leave the 6 btc

Imagine a whole 8 btc. He will die in poverty, it is not a curse; it is certainty. These are ones are financial illiterates and e-diots.

Just today i was thinking about how someone would just hammer his first N100 million. Next thing the fool is creating more liabilities with the money - rents a house of 3 million per year, buys a 20 million car, buys latest iphone, carry olosho etc

When my first thought is to invest that money, to create a stream of income: even if its money market. Then cut my coat according to that income stream.

Poverty is in people destiny no matter what they do. Smh.

Lastly, money gotten from fraudulent means would always turn to fire and consume its keeper and everything he owns. It’s in the good book.

davillian:
thier job is based on faith and believe.
when they cashout big they have this mindset that it would keep coming....
when you hit big dont feel too excited
dont cast it or do anything that would make people know you have lots of money...
stay that same house , jump that same bike etc
they start thinking what you would do with the money....
just imagine the one that collected 8 btc
imagine if he survives on 2btc and leave the 6 btc

you can't survive on 8btc is there is no extra incomes coming. It must finish

davillian:
thier job is based on faith and believe.
when they cashout big they have this mindset that it fit would keep coming....
when you hit big dont feel too excited
dont cast it or do anything that would make people know you have lots of money...
stay that same house , jump that same bike etc
they start thinking what you would do with the money....
just imagine the one that collected 8 btc
imagine if he survives on 2btc and leave the 6 btc

no mind the dude, some get house and dey abroad. Dude fit dey Bleep anyhow toto, jam toto wey badluck

I hate that yahuu of a thing with passion. They scammed someone of thier hard earned money and spend it extravagantly, living a carefree life. This generation is gone.

LifeOfTrigga:
no mind the dude, some get house and dey abroad. Dude fit dey Bleep anyhow toto, jam toto wey badluck

transformers toto

TheOldGods:
you can't survive on 8btc is there is no extra incomes coming. It must finish

me ? you would tell me how i was able to survive before yhe 8btc come..
abi i no de eat ?