INDESTRUCTABLEX:


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.

what are you talking of bro ,
Can you pay your house rent, feed yourself, cloth yourself etc with a 20k salary?

dearpreye:


That's not entirely true sir.

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

INDESTRUCTABLEX:


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.

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.

ebamma:
what are you talking of bro ,
Can you pay your house rent, feed yourself, cloth yourself etc with a 20k salary?

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.

ebamma:
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

I understand your point. It's actually pretty difficult. But I've also seen people within that salary range doing well..

ebamma:
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

I am glad you said they manage to survive. If they van survive, they can save.

ebamma:
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

I am glad you said they manage to survive. If they can survive, they can save.

dearpreye:


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.

Which industry are you looking to invest in?

INDESTRUCTABLEX:


Which industry are you looking to invest in?

For now, not clear which one.

INDESTRUCTABLEX:


I am glad you said they manage to survive. If they van survive, they can save.

forget it Bro,
Imagine how a police officer with 2 kids and a wife survives on a 32k salary every month,

ebamma:
forget it Bro,
Imagine how a police officer with 2 kids and a wife survives on a 32k salary every month,

I will love to give a break down on the police officer. Things can be difficult, actually, they are. But we must conquer.

Yes oh.

I dey like this kind thread..

dearpreye:


For now, not clear which one.

Okay, I have a couple I am researching on. Waste management, biogas, agriculture, etc.

400billionman:
Yes oh.

I dey like this kind thread..

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.

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.

INDESTRUCTABLEX:


Okay, I have a couple I am researching on. Waste management, biogas, agriculture, etc.

That's really good.

yenboy:
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.

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!

yenboy:
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.

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.

INDESTRUCTABLEX:


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.

God bless your wisdom.

yenboy:
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.

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

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:


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!

ideykwum:
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!!!

Hmmmm!!! Thanks for sharing. We have some things in common. Thanks for dropping those few paragraphs.

yenboy:
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.

Bro, hope you're following?
Hope you dey see the expert wisdom men are dropping here?

Spot on! As usual...

dearpreye:


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.

ideykwum:
Spot on! As usual...

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.

ideykwum:
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!!!

I had to read it over again. Thanks for sharing.

dearpreye:


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.

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.

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.

Only very few people will understand what you are saying.

They think the rat race is the only race..

400billionman:


All you wrote are excellent points.

I spent my first 5 years 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.

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.

This thread won't be complete without the otherworldly wisdom of noblezone. Sir, your input is needed HERE.

400billionman:


Only very few people will understand what you are saying.

They think the rat race is the only race..

Hahaha. Funny but true.

The gratitude is actually mine! Sometimes, it's therapy to discuss our failures, and re-adjust ourselves on the learning curve!

dearpreye:


I had to read it over again. Thanks for sharing.