noblezone:


I want you to do something crazy.
If four salary doesnt come, you will not die.

You said,you have about N40k left?
That is some peoples monthly salary.

Since you are not married.
Do something crazy this month.
Spend only 40k or50k. Damn the consequences.

dearpreye:


I must confess you stared strong emotions in me when you mentioned her name! I confess. I don't know why!

I'm happy you found this thread somewhat meaningful. We can't continue to be human ATMs to others in the name of being a GOOD MAN.

I'm also struggling financially at the moment, no little thanks to the above killer mistakes. But soon I shall be liberated and will soar like an eagle to the mountaintop of abundance, never to experience lack anymore.

Thank you!!!

Specialist900:
when you dedicated one point/heading/paragraph to her why won't you feel strong emotions.

I must thank you again. It was really an eye opener. Money won't be enough for us except we want it to be

Trustme2:
op. Good points there. My financial rule is that I discover that if I collect my whole salary I will still get broke before the end of the month, and if I collect just 20% of it I won't die. So its preferable to save the 80% in our cooperative. Savings in the cooperative is usually done at the source so I don't even have access to it. The accumulated savings can be used to secure a loan twice my savings at 5% interest rate payable over 24 months which am currently using to finance my building project. For me no idle funds anywhere. So no matter how anybody brings financial request the cash is not available. The earlier one starts preparing for the future the better.

dearpreye:

You guys can draw meanings and conclusions eehhnn!!
I'll be happy to be half as intelligent and humble as she is!

Specialist900:



yeah, we take the good from people we come across. It sure helps


*runs off to draw a budget for the month *

verygudbadguy:
Nice write-up..........

Trustme2:
op. Good points there. My financial rule is that I discover that if I collect my whole salary I will still get broke before the end of the month, and if I collect just 20% of it I won't die. So its preferable to save the 80% in our cooperative. Savings in the cooperative is usually done at the source so I don't even have access to it. The accumulated savings can be used to secure a loan twice my savings at 5% interest rate payable over 24 months which am currently using to finance my building project. For me no idle funds anywhere. So no matter how anybody brings financial request the cash is not available. The earlier one starts preparing for the future the better.

voltron:
@OP my your intellect and wisdom continue to increase exponentially as you grow old and wise. This is good advice.

I also have one more advise to give.. There is something called Herd-Mentality and it often prevents you from thinking creatively or out of the box. because many people live under the same environment, they are far more likely to make similar investment decisions regardless of what obtains outside that environment.

Specialist900:
Oga you talk true o. Deduction from source for savings actually does magic cos we've got no choice than to make do with the balance

BABSIN:


Thanks

visitor30:
@ op, you could not have stated it otherwise. I must confess that I have been guilty of all that have been said in this thread thus far.
But I thank God for today, that I stumbled on it. Because for the past couple of months, I have been lamenting on all those wasted years and what one could have achieved.

@all who have been contributing, just to mention a few, Ideykwum, Indestructiblex, 400billionman, etc........All what you have said is just the bitter truth.

One without financial discipline, financial intelligence, learning and knowing were to put ones money in other to make it work for the person as well as enable one to embark on the walk to financial freedom will continue to fall into the pitfalls as mentioned by dearpreye.

I have learnt so much just within the last one hour I stumbled on this thread. Took my time to read through the entire post and all glory to God that this is coming at the 2nd half of the year.
This is just another opportunity of a 2nd chance to learn from ones mistakes and other peoples life experiences to start doing things right.

Once again thanks to the op (dearpreye) and you all for your contributions.

Let me also add and must confess, that am sometimes amazed with the financial wisdom that God has deposited in the brains of women, especially those of them that have taken the time to discover who/what they are. A big shout out to all such women in the house and also to all those who have the privilege to have them as their wives.

visitor30:
@ op, you could not have stated it otherwise. I must confess that I have been guilty of all that have been said in this thread thus far.
But I thank God for today, that I stumbled on it. Because for the past couple of months, I have been lamenting on all those wasted years and what one could have achieved.

@all who have been contributing, just to mention a few, Ideykwum, Indestructiblex, 400billionman, etc........All what you have said is just the bitter truth.

One without financial discipline, financial intelligence, learning and knowing were to put ones money in other to make it work for the person as well as enable one to embark on the walk to financial freedom will continue to fall into the pitfalls as mentioned by dearpreye.

I have learnt so much just within the last one hour I stumbled on this thread. Took my time to read through the entire post and all glory to God that this is coming at the 2nd half of the year.
This is just another opportunity of a 2nd chance to learn from ones mistakes and other peoples life experiences to start doing things right.

Once again thanks to the op (dearpreye) and you all for your contributions.

Let me also add and must confess, that am sometimes amazed with the financial wisdom that God has deposited in the brains of women, especially those of them that have taken the time to discover who/what they are. A big shout out to all such women in the house and also to all those who have the privilege to have them as their wives.

Alphafrank:

Thank you sire......i already sent u a mail dnt knw how long it would take to get delivered......let me howeva drop my email so u can take if from here.....plz quote me once u've taken the mail so i can modify it.....tnks a lot....
wisdomfrnk@gmail.com

ideykwum:
Bro, I wish you the best in your pursuits! May we all climb the ladder of success with little inhibition! Amen!

ideykwum:
Alphafrank, I think I can do better than that. Inbox me your email address and I'd see if I can send you some e-books in those areas.

If you like reading, I can send you a lot!

Wish you the best in your endeavours!


Please I will appreciate some books too.: kerstonsala@mail.com Thanks

hopeforcharles:
Seriously I am grabing gold nuggets here on this post God bless the Op, I too did so many financial experimental blunders, but they have helped me became formidable and informed, I now have a lot of experience financial wise

Lokooneone:
Nice one OP. I won't let leave my head.

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. 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.

DonX001:
Really great thread!
One of the best i've read this year.
Reminds me of the good old nairaland before the era of Tonto Dike n co....when each time you logged in, you could read something really useful to your life, and not just dumb entertainment gists 24/7.

Bookmarked to nominate for best thread of the year, come December!

ideykwum:
I'm at your service!! Please feel free to pump me for any info you'd require! Regards