A colleague and I were chatting this afternoon as we were having our break. And we discussed how far we have come, financially. We've not done too well. As we talked on, we all agreed we made certain financial Mistakes that are responsible for our present financial status. We didn't arrive there by error; certain errors are responsible, and it's these I intend to share with us. Maybe we can learn a thing or two.

Inadequate financial literacy: It took me over 3 years to even understand how money works. All I did was to get my salary, spend it and desperately waited till another comes and the cycle never ended. Most of us do not really understand how money works, and our educational system never even dared to give us a crash course on money. We were simply bombarded with Fourier Series, Calculus and other theorems that do not really matter in the real scheme of life. Life is totally different. Money has rules and till we actually understand them, we won't do well financially.

Impulse Spending: This one is a killer. Most people are aware of this medium of waste. Practise this act and you're damn sure of being in lack. This was one major weakness I HAD. Not anymore. I've bought countless things purely on impulse. I didn't think through; I just bought. And the consequences of impulsive spending is poverty or lack. Now, I buy things when it's absolutely necessary. Emotions are a major factor when it comes to money. And the poor are always emotional when it comes to money. The rich have mastered their emotions. They only spend money when they want to meet their NEEDS. Only the poor and thieving politicians throw away money.

Indiscipline: To be rich requires work. Hard work. And the poor are averse to hard work. It takes a lot of discipline to follow a budget. I hardly followed my budget then. It takes a lot of discipline to think on the appropriate means to make more money. The poor only likes spending. And spending doesn't involve much work. Just dole out the cash and it's gone. It takes discipline to keep money. I lacked it too.

Inability To say NO : This was one major financial flaw I had back then. I can't recall ever saying NO anyone's financial demands. That was a fatal character flaw. You can't be wealthy meeting all of people's needs. I've practically taken loans to meet people's needs. Their needs never end. Now I know better. I still give but I won't hesitate to say NO if I have to. I've got to be true to myself. To be rich is to be sincere and prudent with money.

Especially when it comes to relatives and even.loved ones, one can hardly say NO. I had to work on myself. In the past years, it's being others before I. Now, no more. We erroneously believe people will die if we don't always meet their needs. Nothing could be further from the truth. Last December, I sincerely asked my parents to bear with my inability to meet their demands. They're still live and kicking. Even if you're there, people will live on. That's life. I know our African culture requires we shoulder others problems but there's clearly a limit, and we must endeavour to strike a balance. Keep spending the cash on them, and you're tagged a GOOD MAN. You will remain poor as far as you wanna be a good man. Good men are almost always poor

Careless giving: There have been countless times I've given out money immediately I saw some people. I just thought they needed. It's very good to give, but it must be done with wisdom. Money shouldn't be spent anyhow. Giving must be meaningful and purposeful. Now, I know better.

Trying To Impress Others: Sometimes we do it even without knowing. I've done this a few times. It's a terrible habit. We need to live realistic lives. And we must live within our means. It's stupid to live an exaggerated life so as to impress some people. It's epic foolishness. Oftentimes those we intend to impress hard notice us. Why the bother? It another habit of the poor to try to give people a false sense of their financial status. Now, I don't give a hoot. I simply live MY life. Anyone can make their conclusions; it's their business.

Lack of Project: My first give years were indeed experimental. The errors are so depressing. Money must go somewhere. Nature abhors vacuum. Something must take your money. Since I didn't have my projects taking the money, others simply get me theirs. Wicked people. U go blame them? No. Blame me. Now, I've a lot of projects ongoing and I barely have enough for my self and loved ones, let alone OTHERS. No more vacuum.

Not Involving My Woman: Ego has hardly paid any man. It has caused more pain than it has given joys. I didn't actively involve my woman in my finances those years. Now I do. Women can be an oasis of wisdom. Mine is a bundle of financial wisdom. I've hardly listened to her. I used to just her the family upkeep and limited her foray. Now, she plays a crucial role in decision making and the results have been excellent.

If we don't make deliberate and conscious efforts at money, we won't be rich. If I understood these principles before now, I would have certainly being in a better position finally. This I know.

We need to start taking money seriously. When the chips are down, we're all left on our own. No one can eternally shoulder your problems. We need to be smart with our money. It hardly comes without effort. Why spend it without effort? Be disciplined. Enjoy with tomorrow in mind. It comes so fast. Without financial discipline, we will be stuck in the rat race forever. The rich are highly disciplined when it comes to money. They hardly give it away. That's why we hate them. We tag them as miserly and stingy. They simply understand how money works.

It's never too late to begin doing the right thing. Now, I hardly fall into these death traps. Take your financial future seriously. Work. Save. Invest. Give. Apply wisdom.

Please, avoid these financial Mistakes. Follow them, and lack is sure. It takes a lot of discipline to be rich; that's why many are poor.

To be poor is the easiest thing to achieve in life. You do nothing to be poor. Just find excuses. And excuses abound. You don't need to look far.

THIS LAND IS NOT FOR SALE!

note.
this fertile land is dedicated to Buhari's Cows KEEP OFF

.

I thank God for Op.

I thank God for Nairaland.

I thank God for my life.




But will Black ppl listen, I doubt.

Bro, you have stated what most of us have been through! I should have bought lots of property by now, but I just didn't have my eyes on the ball, and most of what you said have been my bane! Now, I'm waking up to realities and it annoys me when I see how much value I missed! But thank God for second and third chances! It's well!

dearpreye:
A colleague and I were chatting this afternoon as we were having our break. And we discussed how far we have come, financially. We've not done too well. As we talked on, we all agreed we made certain financial Mistakes that are responsible for our present financial status. We didn't arrive there by error; certain errors are responsible, and it's these I intend to share with us. Maybe we can learn a thing or two.

Inadequate financial literacy: It took me over 3 years to even understand how money works. All I did was to get my salary, spend it and desperately waited till another comes and the cycle never ended. Most of us do not really understand how money works, and our educational system never even dared to give us a crash course on money. We were simply bombarded with Fourier Series, Calculus and other theorems that do not really matter in the real scheme of life. Life is totally different. Money has rules and till we actually understand them, we won't do well financially.

Impulse Spending: This one is a killer. Most people are aware of this medium of waste. Practise this act and you're damn sure of being in lack. This was one major weakness I HAD. Not anymore. I've bought countless things purely on impulse. I didn't think through; I just bought. And the consequences of impulsive spending is poverty or lack. Now, I buy things when it's absolutely necessary. Emotions are a major factor when it comes to money. And the poor are always emotional when it comes to money. The rich have mastered their emotions. They only spend money when they want to meet their NEEDS. Only the poor and thieving politicians throw away money.

Indiscipline: To be rich requires work. Hard work. And the poor are averse to hard work. It takes a lot of discipline to follow a budget. I hardly followed my budget then. It takes a lot of discipline to think on the appropriate means to make more money. The poor only likes spending. And spending doesn't involve much work. Just dole out the cash and it's gone. It takes discipline to keep money. I lacked it too.

Inability To say NO: This was one major financial flaw I had back then. I can't recall ever saying NO anyone's financial demands. That was a fatal character flaw. You can't be wealthy meeting all of people's needs. I've practically taken loans to meet people's needs. Their needs never end. Now I know better. I still give but I won't hesitate to say NO if I have to. I've got to be true to myself. To be rich is to be sincere and prudent with money.

Especially when it comes to relatives and even.loved ones, one can hardly say NO. I had to work on myself. In the past years, it's being others before I. Now, no more. We erroneously believe people will die if we don't always meet their needs. Nothing could be further from the truth. Last December, I sincerely asked my parents to bear with my inability to meet their demands. They're still live and kicking. Even if you're there, people will live on. That's life. I know our African culture requires we shoulder others problems but there's clearly a limit, and we must endeavour to strike a balance.

Careless giving: There have been countless times I've given out money immediately I saw some people. I just thought they needed. It's very good to give, but it must be done with wisdom. Money shouldn't be spent anyhow. Giving must be meaningful and purposeful. Now, I know better.

Trying To Impress Others: Sometimes we do it even without knowing. I've done this a few times. It's a terrible habit. We need to live realistic lives. And we must live within our means. It's stupid to live an exaggerated life so as to impress some people. It's epic foolishness. Oftentimes those we intend to impress hard notice us. Why the bother? It another habit of the poor to try to give people a false sense of their financial status. Now, I don't give a hoot. I simply live MY life. Anyone can make their conclusions; it's their business.

Lack of Project: My first give years were indeed experimental. The errors are so depressing. Money must go somewhere. Nature abhors vacuum. Something must take your money. Since I didn't have my projects taking the money, others simply get me theirs. Wicked people. U go blame them? No. Blame me. Now, I've a lot of projects ongoing and I barely have enough for my self and loved ones, let alone OTHERS. No more vacuum.

Not Involving My Woman: Ego has hardly paid any man. It has caused more pain than it has given joys. I didn't actively involve my woman in my finances those years. Now I do. Women can be an oasis of wisdom. Mine is a bundle of financial wisdom. I've hardly listened to her. I used to just her the family upkeep and limited her foray. Now, she plays a crucial role in decision making and the results have been excellent.

If we don't make deliberate and conscious efforts at money, we won't be rich. If I understood these principles before now, I would have certainly being in a better position finally. This I know.

We need to start taking money seriously. When the chips are down, we're all left on our own. No one can eternally shoulder your problems. We need to be smart with our money. It hardly comes without effort. Why spend it without effort? Be disciplined. Enjoy with tomorrow in mind. It comes so fast. Without financial discipline, we will be stuck in the rat race forever. The rich are highly disciplined when it comes to money. They hardly give it away. That's why we hate them. We tag them as miserly and stingy. They simply understand how money works.

It's never too late to begin doing the right thing. Now, I hardly fall into these death traps. Take your financial future seriously. Work. Save. Invest. Give. Apply wisdom.

Please, avoid these financial Mistakes. Follow them, and lack is sure. It takes a lot of discipline to be rich; that's why many are poor.

To be poor is the easiest thing to achieve in life. You do nothing to be poor. Just find excuses. And excuses abound. You don't need to look far.

Moderators, please kindly move this article to the front page. Money is very crucial.

yomi007k:
I thank God for Op.

I thank God for Nairaland.

I thank God for my life.




But will Black ppl listen, I doubt.

Thank God for your life as well.

Thank God for Nairaland.

He who hasn't made mistakes hasn't lived.

But it takes a smart person to learn from the experiences of others.

Whether people will ever listen remains to be seen.

I've learned a whole lot from this site. It simply behoves of me to share this one.

ideykwum:
Bro, you have stated what most of us have been through! I should have bought lots of property by now, but I just didn't have my eyes on the ball, and most of what you said have been my bane! Now, I'm waking up to realities and it annoys me when I see how much value I missed! But thank God for second and third chances! It's well!

It's very painful, dear brother. But it's well. Learning never stops.

I know I would have done better but for these costly mistakes.

Nice one preye.......self control is always a problem when it comes to spending.....we spend first and then think later

SarahBabyxx:
Nice one preye.......self control is always a problem when it comes to spending.....we spend first and then think later

You're welcome, my sister.

Self control: You can't be rich without being rich in it.

Money is so easy to spend.

It's even more appalling that Careless spending is more prominent amongst the poor.

robinicule:
almost!

Yes. Almost. And that's because I still managed to achieve a decent things. I would have done better if not for these holes.

Nice one OP !
I thank God for my life...

stevecantrell:
Nice one OP !

I thank God for my life...

Thanks for your kind words, my brother.

I thank God for your life.

Just keep learning. Improving. Growing. Never stop.

Nice.

Mods should do the needful and push this message to the FP.

When it comes to money, information is so important.

One of the advantages the rich has offer the poor is information. The rich know how money works; the poor are only interested in the physical cash. They can't care less about how it works.

We spend more time discussing politicians and celebrities who have clearly made their money, and are enjoying themselves, than we do educating ourselves on money.

Topics like this one hardly attract a sizeable number of viewers and comments because it takes discipline to read something that's not celebrity or tribal jingoism.

Money is very important. But ironically we hardly pay adequate attention to its latent working.

dearpreye:
Mods should do the needful and push this message to the FP.

When it comes to money, information is so important.

One of the advantages the rich has offer the poor is information. The rich know how money works; the poor are only interested in the physical cash. They can't care less about how it works.

We spend more time discussing politicians and celebrities who have clearly made their money, and are enjoying themselves, than we do educating ourselves on money.

Topics like this one hardly attract a sizeable number of viewers and comments because it takes discipline to read something that's not celebrity or tribal jingoism.

Money is very important. But ironically we hardly pay adequate attention to its latent working.

It doesn't have to be on FP. People will naturally seek after what they believe is important.

Your points are all correct. I once bought a violin because I felt like. I have not played it in over 3 years.

I am more business-savvy and extremely prudent with my savings.

In btw, Fourier's Series, Calculus, are you an engineer?

INDESTRUCTABLEX:


It doesn't have to be on FP. People will naturally seek after what they believe is important.

Your points are all correct. I once bought a violin because I felt like. I have not played it in over 3 years.

I am more business-savvy and extremely prudent with my savings.

In btw, Fourier's Series, Calculus, are you an engineer?

Thanks for your paradigm. We all have made financial Mistakes in times past. We still make till date.

I'm an Environmental Technologist/ HSE professional.

dearpreye:


Thanks for your paradigm. We all have made financial Mistakes in times past. We still make till date.

I'm an Environmental Technologist/ HSE professional.

Thought as much. Na una dey give us tough time for field and base. Lol.

INDESTRUCTABLEX:


Thought as much. Na una dey give us tough time for field and base. Lol.

Hahaha. It's actually the other way round. You people are making our work hell.

dearpreye:


Hahaha. It's actually the other way round. You people are making our work hell.

If I hear. You must get clearance for pressure testing, you must follow the safety line, you must not run on the stairs, you must wear complete PPE, you must be certified. Na wa o.

Anyways, I am not in the industry. I don't have plans of entering sef. I had my fair share during SIWES.

We are the Dangotes of tomorrow.

Funny enough, I started my career in oil and gas from the HSE department...moved to project management and now, general management. I still consider myself a safety professional! You and I...Alive!!

dearpreye:


Thanks for your paradigm. We all have made financial Mistakes in times past. We still make till date.

I'm an Environmental Technologist/ HSE professional.

I like you aspiration! Wish you the best!

INDESTRUCTABLEX:


If I hear. You must get clearance for pressure testing, you must follow the safety line, you must not run on the stairs, you must wear complete PPE, you must be certified. Na wa o.

Anyways, I am not in the industry. I don't have plans of entering sef. I had my fair share during SIWES.

We are the Dangotes of tomorrow.

Nice points bro,
But truth is,
Many out there don't make enough from their jobs to even pay their bills, Not to talk of saving
,

ideykwum:
I like you aspiration! Wish you the best!

Thanks my Oga at the top.

ebamma:
Nice points bro,
But truth is,
Many out there don't make enough from their jobs to even pay their bills, Not to talk of saving
,

That's not the absolute truth. I will explain.
Back then in school, at 100l, my allowance was 20k. I noticed that at the 3rd week I was always broke and would have to borrow from friends. What was the cause? I always had quarrels with my roommates and would leave in anger to spend the night in a lecture room. This went on for 3 months.

Second semester I changed my plans. No matter what happened I stayed in the room. That same person who couldn't save a dime survived and took a professional course on web design. I paid for it with 2 months allowance.

Human wants are insatiable. I can survive with 5k a week, 10k, 2k, and even 0k. I hardly keep or carry cash. As long as you have garri, yam, bread, beans, rice, you are good to go. Remember, there are people earning less than you do and they are surviving.

Survive today, make sacrifices, and live tomorrow.
My 2 cents.

ideykwum:
Funny enough, I started my career in oil and gas from the HSE department...moved to project management and now, general management. I still consider myself a safety professional! You and I...Alive!!

Wow!!!!! The world depends on safety. When we see, we shall talk all the more. All the money and information we need in the world is with people and books. You're one of such people.

INDESTRUCTABLEX:


If I hear. You must get clearance for pressure testing, you must follow the safety line, you must not run on the stairs, you must wear complete PPE, you must be certified. Na wa o.

Anyways, I am not in the industry. I don't have plans of entering sef. I had my fair share during SIWES.

We are the Dangotes of tomorrow.

Hahaha. Staying alive in the industry requires some sacrifices, and they come in the form of complying with established HSE management system.

I agree sometimes HSE procedures can be stressful, but that stress is the sacrifice we pay today to work again tomorrow and the day after tomorrow.

In recent times, I've also started thinking outside the box. Just earning monthly salaries isn't enough. I've started paying serious attention to entrepreneurship.

Honestly, I'm flattered...especially since the praise comes from you! Risk management is a subset of existence...and a subset of safety; infers that safety is existence. Without it, all else fails!

Safety taught me the fundamentals of efficient management systems, especially demonstrable leadership and commitment, the major ingredient lacking in Nigerian systems!

dearpreye:


Wow!!!!! The world depends on safety. When we see, we shall talk all the more. All the money and information we need in the world is with people and books. You're one of such people.

ebamma:
Nice points bro,
But truth is,
Many out there don't make enough from their jobs to even pay their bills, Not to talk of saving
,

That's not entirely true sir.

ideykwum:
Honestly, I'm flattered...especially since the praise comes from you! Risk management is a subset of existence...and a subset of safety; infers that safety is existence. Without it, all else fails!

Safety thought me the fundamentals of efficient management systems, especially demonstrable leadership and commitment, the major ingredient lacking in Nigerian systems!

I agree. I sincerely agree. But I don't flatter people sir.

I didn't come to NL to spend all my time talking about greedy and primitive politicians and celebrities. I joined here to better my life, and I've been so far assembling a thorough and mature group of friends whose experience and understanding is beyond immediate money.

Money is with people, not machine.

dearpreye:


Hahaha. Staying alive in the industry requires some sacrifices, and they come in the form of complying with established HSE management system.

I agree sometimes HSE procedures can be stressful, but that stress is the sacrifice we pay today to work again tomorrow and the day after tomorrow.

In recent times, I've also started thinking outside the box. Just earning monthly salaries isn't enough. I've started paying serious attention to entrepreneurship.

You are entirely right. If there are no rules there will be chaos. I once saw someone had 4 of his fingers chopped off when he tried lifting a very heavy object without assistance or gloves.

My brother entrepreneurship is the way forward.