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Nairaland Forum / Nairaland / General / Business / Financial Mistakes That Almost Wasted My First Five Years Of Work! (41289 Views)
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Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ebamma(m): 5:19pm On Jul 01, 2015 |
INDESTRUCTABLEX:what are you talking of bro , Can you pay your house rent, feed yourself, cloth yourself etc with a 20k salary? 1 Like |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ebamma(m): 5:22pm On Jul 01, 2015 |
dearpreye:how so? Cos I have seen people who earn 10k to 20k salaries, And im always wondering how the manage to survive on that for 30days, Not to talk of saving |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 5:23pm On Jul 01, 2015 |
INDESTRUCTABLEX: That's the reason we should take safety very seriously. I've lost a superintendent to a fatal accident. He fell from a height of about 25 feet and went down 6 feet finally. Entrepreneurship is the way. I agree. That's why I'm beginning to be even more prudent with money. 1 Like |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:24pm On Jul 01, 2015 |
ebamma: That was in 100 level sir, I was still under my parents. My point is humans are always going to survive. There is always an avenue to cut down on your expenses. Believe me. 1 Like |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 5:25pm On Jul 01, 2015 |
ebamma: I understand your point. It's actually pretty difficult. But I've also seen people within that salary range doing well.. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:25pm On Jul 01, 2015 |
ebamma: I am glad you said they manage to survive. If they van survive, they can save. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:26pm On Jul 01, 2015 |
ebamma: I am glad you said they manage to survive. If they can survive, they can save. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:29pm On Jul 01, 2015 |
dearpreye: Which industry are you looking to invest in? |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 5:29pm On Jul 01, 2015 |
INDESTRUCTABLEX: For now, not clear which one. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ebamma(m): 5:32pm On Jul 01, 2015 |
INDESTRUCTABLEX:forget it Bro, Imagine how a police officer with 2 kids and a wife survives on a 32k salary every month, |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:40pm On Jul 01, 2015 |
ebamma: I will love to give a break down on the police officer. Things can be difficult, actually, they are. But we must conquer. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by 400billionman: 5:44pm On Jul 01, 2015 |
Yes oh. I dey like this kind thread.. 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 5:50pm On Jul 01, 2015 |
dearpreye: Okay, I have a couple I am researching on. Waste management, biogas, agriculture, etc. 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 5:50pm On Jul 01, 2015 |
400billionman: Thanks bro. I want to be a billionaire. And I can't achieve that by allowing financial recklessness and folly. Others can learn from these avoidable pitfalls. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by yenboy(m): 6:07pm On Jul 01, 2015 |
WOW at poster Big thanks for sharing these you just saved a soul. But I do have a question, What happens when the said young man is not married?? either is he in any serious relationship?? thanks once more. 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 6:38pm On Jul 01, 2015 |
INDESTRUCTABLEX: That's really good. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 6:42pm On Jul 01, 2015 |
yenboy: If the person isn't married, that's even when he needs to save more aggressively. It's all about planning, discipline and focus. INDESTRUCTABLEX, ideykwum, your contributions are needed here. Shalom! 2 Likes 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by INDESTRUCTABLEX(m): 7:05pm On Jul 01, 2015 |
yenboy: Hello sir, the best time to save is when you are young and single. I am allowed to take reckless risks without thinking twice because I primarily have to worry about myself and no one else. Just to motivate you. I have a friend who is serving. He made a deal not to touch his allowee. He does extra jobs to survive and he is well to do compared to those in his age group. Mind you, he is from a very very humble background. Believe me brother the best time to start saving is as a student in school, next as a single man without a relationship. Once you are saddled with a relationship or marriage plus children, my brother world done change o. 6 Likes |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 7:07pm On Jul 01, 2015 |
INDESTRUCTABLEX:God bless your wisdom. 4 Likes 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 7:25pm On Jul 01, 2015 |
yenboy:learn to save oga......if you have problems with spending you could get a fixed deposit account.....you can save for months and get interests.....its probably the easiest and simplest way dont you have some kind of business idea?? something youve always wanted to go into?? there are so many businesses you can go into that you'd make a lot money out of......you can even start small,depending on your pocket ![]() |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ideykwum: 7:37pm On Jul 01, 2015 |
In my opinion, relationship status is not a factor when compulsory financial discipline is concerned! If you don't have it when you're single, you may not have it when you're married! You will find that it's difficult to teach an old dog new tricks! The psychological conditioning needed for personal financial discipline and progress is better imbibed when one is without the responsibilities that marriage demands! I remember that I was very irresponsible with cash when I was single! I just grooved etc! It was easy with a brand new car and a well furnished apartment to have the girls over! The coveralls and hard hat also were like magic wands for ladies....and I met my wife, unexpectedly! She then resolved to put me on the straight and narrow, requesting to see my pay slip, and monitoring my expenditure monthly! I still found a way to spend money (she did not know that a white slip attached to my pay slip represented allowances that were paid outside the core salary and primary allowances) and I considered the white slip my personal "freedom" money! Today, I thank her for a lot of things, and I regret the amounts wasted on unnecessary frivolity! Guys who had much better financial discipline did wonders with their little, building houses when I was still renting!! Believe me, they achieved that in their mid-twenties!!! dearpreye: 12 Likes 3 Shares |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 7:40pm On Jul 01, 2015 |
ideykwum: Hmmmm!!! Thanks for sharing. We have some things in common. Thanks for dropping those few paragraphs. 2 Likes 2 Shares |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 7:42pm On Jul 01, 2015 |
yenboy: Bro, hope you're following? Hope you dey see the expert wisdom men are dropping here? |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ideykwum: 7:47pm On Jul 01, 2015 |
Spot on! As usual... dearpreye: 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 8:05pm On Jul 01, 2015 |
ideykwum: Bro, I've got to be occupied with mine own life, not that of some lazy and wicked politicians. They're obviously taking care of theirs. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 8:06pm On Jul 01, 2015 |
ideykwum: I had to read it over again. Thanks for sharing. 2 Likes 2 Shares |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by 400billionman: 8:11pm On Jul 01, 2015 |
dearpreye: All you wrote are excellent points. I spent my first 5 years too spending on things that are not sustainable. Shares, lending and being generous. I lost fortunes to the first two items. One problem I had then was inspite of my prudent spending and savings habit, I didn't know where to put my money. I am someone who does not believe in keeping money in the bank( I term it idle funds). So I bought shares and lent for interest. Millions got lost. Now I discovered the secret of being rich. Before any single penny enters my pocket as income, I already have a project waiting for it. Even if I don't have N50,000 sitting inside the bank, I must have 3 or more sources of daily, weekly, monthly or annual income. I can build a house without N10,000 balance in my account. My money is always in a CONTINUOUS CYCLE to produce more money. 12 Likes 5 Shares |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by 400billionman: 8:15pm On Jul 01, 2015 |
dearpreye: Only very few people will understand what you are saying. They think the rat race is the only race.. 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 8:17pm On Jul 01, 2015 |
400billionman: Thank you for sharing your experience. It's invaluable to us. I've consoled myself by tagging those wasteful 5 years as experimental years. Something must take money. Either your projects or those of others. I also lost some good doe to the 2008 financial crash. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 8:20pm On Jul 01, 2015 |
This thread won't be complete without the otherworldly wisdom of noblezone. Sir, your input is needed HERE. |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by Nobody: 8:24pm On Jul 01, 2015 |
400billionman: Hahaha. Funny but true. 1 Like 1 Share |
Re: Financial Mistakes That Almost Wasted My First Five Years Of Work! by ideykwum: 8:31pm On Jul 01, 2015 |
The gratitude is actually mine! Sometimes, it's therapy to discuss our failures, and re-adjust ourselves on the learning curve! dearpreye: |
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