abraolas1:


the amount of knowledge I have gain here is immeasurable.as I just come here to learn everyday ... thanks to Mr emmanuelwunmi ,oga ahib madam sholapey , oga 9japatriot.. and the host of others... God bless you all real Good

Amen! May God enlarge your coast as you learn and lend to others too.

averagejoee:
Honestly we need to give all the bosses thumb up, from Feelamong the originator of this thread, pa emmanuel, ukay2, the oil man ahiboilandgas and so many others here. Honestly there are thousands of silent followers who are reading this thread.I remember i was seeking advise from feelamong on investing on the FGN SUKKUK bond, thank God i followed his advise to lock up the fund imagine coming from a rate of 18.5% to the ridiculous 3.5%

Yeah well your currency has lost 20% of its value too

Yeah thats why its good to diversify your investment properties etc.

olujaidi:


Yeah well your currency has lost 20% of its value too

emmanuelewumi:


True, but it appears less than 10% of women fall into this group

I have friends who were frugal and Investment conscious when they were single, but by the time they got married they became wasteful in order to satisfy the consumption lifestyles of their wives. One of the reasons why some men are not open to their wives concerning how much they make.

Some make 10, but they will tell their wives they make 7. So that they can secretly save and invest 3

This is not exclusively a female thing. it happens when a couple do not have joint account and joint expenditures. The partner who earns more may not tell the other all of his/her plans for the income.

So as month dey end like this,madam /oga who earns less is already planning owambe. He doesnt know you want to buy TB this month.
Just Plan together if you are married to avoid this

emmanuelewumi:



Na wa, once your money doubles most women will want us to move from a 3 bedroom flat to a duplex or from a duplex to a mansion. They will calculate how the extra funds will be spent on consumptions, even if there nothing to spend on they will create one eg let us give N2 million to the pastor, my father's house needs to be renovated, travelling to America once in a year for vacation would be enough let us increase to twice.

Those are the ones with entitlement mentality, I don't ask of my husband's income because it's none of my business to keep monitoring his income when I have my own income. My job is to look after him and our kids physically and spiritually in prayers to make sure we both happy to live and enjoy the fruits of our labour in good health. Having said that, some women are pain in the a**s Awon abolowo se kumokumo. We have different species

Shuo una no dey sleep? We die here together.

oluwaleokey:


Talking about being frugal, sometimes i really find it difficult being stingy with some things...

I dont care about material stuffs... designers clothes, watches etc
But when it comes to my children education,healthy food, supplements etc i tend to even spend more than my budget, i mean get the very best...
Would you still consider my actions to be reckless spending when there are cheaper alternatives?

A typical example during wifeys pregnancy, i go for the best foreign pregancy drug which cost about 8-9k per pack while the local drugs at federal hospital can be gotten at 500 naira per pack... of course people do take...

Just want to understand you perfectly well when you say being frugal

Frugality cannot standalone. You shouldn't be frugal just for the sake of being frugal. It must be towards an end.
Your level of the practice of frugality is determined by your financial/investment plan and projections, the stage you are on those plans as well as your type of business/occupation.
Depending on how you get money, you should have a percentage or amount set aside at regular intervals to invest towards growing your net worth. Once you've met this target for that period, you can decide to be less frugal with the excess money after meeting your basic needs and responsibilities. The rate of accumulation of wealth is directly proportional to how much of your income you are able to invest periodically.

Take for instance a vehicle purchase. Buying a 1.5M tokunbo car may "eat into" Mr. A's investment capital while it will enhance Mr B's status and help him to do better business
The said Mr A could decide to wait for a year or two during which the 1.5M has aided the growth of his investment and be in a financial position to buy a more expensive car without disrupting his financial plan.

It's easy to be thrift once you get rid of negative/unsupportive social influence. If you want to succeed financially, you must learn not to "send" anybody or greatly reduce the number of people you "send"

Godbpraised:
Women are very emotional when it comes to investment. They care more about the things that do not really care, women i beg make una no vex o i mean no offence. But na so God create una.

We don dey vex o....Maybe some of us were created as a man(strong) in a woman's body as I fit lead war front

emmanuelewumi:
Because Bolaji Johnson has N10 million in his account, you can't say the money automatically belongs to his wife, if their is no will
If Bolaji does not have a will, they will need letter of administration from the court. Bolajis brother, wife and children will all be administrators of the Estate.

But if the account is a joint account. Assuming Bolajis wife is Folake.

The joint account name will be Bolaji Johnson and Folake Johnson. Not Mr and Mrs Bolaji Johnson, because this is not valid in the court.

If bank account is a joint account with the names of both parties, Bolajis wife that is Folake can automatically have access to the fund in the account even though there was no will

You're right sir! The first property I bought was in 2005 when I first visited Nigeria after few years of working two jobs with hard labour in London because of determination. I came back home to tie the money down with something because of the yoruba proverb that says owo t'omode ba koko ni akara lo ma fi je. I refused to eat akara with mine....then I came across the Uncompleted building for sale through an agent in a well developed area in which I later completed. We met with the owner of the property and I payed after diligent inspection.

Six years later I tried to file for a copy of CofO and I was told that the area already had copy of CofO because she has two building beside the one I bought. I informed her and she started with stories of how her husband died and left her alive blablabla, that she inherited it from her husband without a will but because she was the only wife her husband married during his lifetime, that it made her the rightful owner to her husband's properties.

At some point she started acting funny like am one of her child, it got to a stage she asked me to marry her son because i was still single at the time and I needed her to get a letter of administration for me so as to crop my property from the survey to continue with my process, she was mad at me when I refused...Infact, some people are terribly wicked in Nigeria. After all the drama she insisted I must pay for the letter of administration in which I did. She collected huge amounts of money but I thank God it all ended in praise because it made me wiser and I'm counting my blessings thereafter.

missjekyll:


This is not exclusively a female thing. it happens when a couple do not have joint account and joint expenditures. The partner who earns more may not tell the other all of his/her plans for the income.

So as month dey end like this,madam /oga who earns less is already planning owambe. He doesnt know you want to buy TB this month.
Just Plan together if you are married to avoid this

How do you operate your own joint account?

How can you say all my income and my wife's income should be paid into the same account

I once employed a guy whose wife's salary was paid into his own account, and from the that account he withdraws to give his wife running costs for the house. Haba!!!


I suggest everyone to have his or her own account, and a joint account where one or both parties will transfer money to every month

Sholapey:
Those are the ones with entitlement mentality, I don't ask of my husband's income because it's none of my business to keep monitoring his income when I have my own income. My job is to look after him and our kids physically and spiritually in prayers to make sure we both happy to live and enjoy the fruits of our labour in good health. Having said that, some women are pain in the a**s Awon abolowo se kumokumo. We have different species

Because you are an independent woman, who knows the value of money, savings and Investment. Your husband is also a confident man.

I can say a lot of Nigerian men are not confident. Very few men can handle a financially independent woman

Sholapey:
You're right sir! The first property I bought was in 2005 when I first visited Nigeria after few years of working two jobs with hard labour in London because of determination. I came back home to tie the money down with something because of the yoruba proverb that says owo t'omode ba koko ni akara lo ma fi je. I refused to eat akara with mine....then I came across the Uncompleted building for sale through an agent in a well developed area in which I later completed. We met with the owner of the property and I payed after diligent inspection.

Six years later I tried to file for a copy of CofO and I was told that the area already had copy of CofO because she has two building beside the one I bought. I informed her and she started with stories of how her husband died and left her alive blablabla, that she inherited it from her husband without a will but because she was the only wife her husband married during his lifetime, that it made her the rightful owner to her husband's properties.

At some point she started acting funny like am one of her child, it got to a stage she asked me to marry her son because i was still single at the time and I needed her to get a letter of administration for me so as to crop my property from the survey to continue with my process, she was mad at me when I refused...Infact, some people are terribly wicked in Nigeria. After all the drama she insisted I must pay for the letter of administration in which I did. She collected huge amounts of money but I thank God it all ended in praises because it made me wiser and I'm counting my blessings thereafter.

Thank God you did not agree to getting married to her son.

If not the son will still claim ownership of the property they have sold, through marriage. He will suggest his name and yours to be on the new certificate of occupancy.

I want to believe that the marriage suggestion was the idea of the son.

Don't mix business or Investment with pleasure.

No vex i beg

Sholapey:
We don dey vex o....Maybe some of us were created as a man(strong) in a woman's body as I fit lead war front

Leezah:
You people always raise false hope. Listen to the health said they are using Remdesivir which is a broad-spectrum antiviral medication developed by the biopharmaceutical company Gilead Sciences. As of 2020, remdesivir is being tested as a specific treatment for COVID-19, and has been issued an Emergency Use Authorization in the U.S. for those hospitalized with severe diseasePlease be optmistic.

Have you seen the current figures about 3500, tell how it won't get to 5000 by next week Friday

We should just prepare for the unexpected. Trump was very optimistic and never considered Covid 19 as a major threat, almost 70,000 Americans have been killed by the disease

oluwaleokey:


Talking about being frugal, sometimes i really find it difficult being stingy with some things...

I dont care about material stuffs... designers clothes, watches etc
But when it comes to my children education,healthy food, supplements etc i tend to even spend more than my budget, i mean get the very best...
Would you still consider my actions to be reckless spending when there are cheaper alternatives?

A typical example during wifeys pregnancy, i go for the best foreign pregancy drug which cost about 8-9k per pack while the local drugs at federal hospital can be gotten at 500 naira per pack... of course people do take...

Just want to understand you perfectly well when you say being frugal

As long as you spend heavily on quality food like you said, then you are expected to cut down on supplements. What are u supplementing when you have a well rounded balanced and quality meal.

You see, busy executives really have no time to eat well, so they spend a lot on supplements. If u eat well, you have less need of food supplements. So cut down on that part.

missjekyll:


This is not exclusively a female thing. it happens when a couple do not have joint account and joint expenditures. The partner who earns more may not tell the other all of his/her plans for the income.

So as month dey end like this,madam /oga who earns less is already planning owambe. He doesnt know you want to buy TB this month.
Just Plan together if you are married to avoid this

True, very true

Sholapey:
You're right sir! The first property I bought was in 2005 when I first visited Nigeria after few years of working two jobs with hard labour in London because of determination. I came back home to tie the money down with something because of the yoruba proverb that says owo t'omode ba koko ni akara lo ma fi je. I refused to eat akara with mine....then I came across the Uncompleted building for sale through an agent in a well developed area in which I later completed. We met with the owner of the property and I payed after diligent inspection.

Six years later I tried to file for a copy of CofO and I was told that the area already had copy of CofO because she has two building beside the one I bought. I informed her and she started with stories of how her husband died and left her alive blablabla, that she inherited it from her husband without a will but because she was the only wife her husband married during his lifetime, that it made her the rightful owner to her husband's properties.

At some point she started acting funny like am one of her child, it got to a stage she asked me to marry her son because i was still single at the time and I needed her to get a letter of administration for me so as to crop my property from the survey to continue with my process, she was mad at me when I refused...Infact, some people are terribly wicked in Nigeria. After all the drama she insisted I must pay for the letter of administration in which I did. She collected huge amounts of money but I thank God it all ended in praises because it made me wiser and I'm counting my blessings thereafter.

Nigerians are mad and criminal minded group ...me and my friend went to inspect a bungalow for sale from a middle age woman a developer she builds ,furnish,and sale .after agree on price and paying the woman requested 3 months to pack out of the house cos she was staying here ....3 months turn to 8 months we haven't taken physical possession of the house....in between what was happing the woman was toasting and suggesting to befriend my friend...and my friend like woman like mad and honestly the woman is pretty ...so they started cat and mouse relationship..then she suggested he should marry her and allow her stay in the house as his wife ...the idiot almost agreed ..so i told him after paying 35m to her ..that mean u paid a dowry of 35m she is widow with 1 daughter..woman are smart

My friend was dating her like that she was staying in the house for 18months untill his wife found out ...inbetween the woman has built 2 houses and sold making notting less than 8m each .plus her capital...not that the woman is poor or a parasite.....but i dont understand woman rich or poor too crafty

ahiboilandgas:
Nigerians are mad and criminal minded group ...me and my friend went to inspect a bungalow for sale from a middle age woman a developer she builds ,furnish,and sale .after agree on price and paying the woman requested 3 months to pack out of the house cos she was staying here ....3 months turn to 8 months we haven't taken physical possession of the house....in between what was happing the woman was toasting and suggesting to befriend my friend...and my friend like woman like mad and honestly the woman is pretty ...so they started cat and mouse relationship..then she suggested he should marry her and allow her stay in the house as his wife ...the idiot almost agreed ..so i told him after paying 35m to her ..that mean u paid a dowry of 35m she is widow with 1 daughter..woman are smart

Cat & mouse! That's life

Second expirence i went to visit my fomer oga a man of about 55 years old from ijebu but uk based ..he own lot of property in lagos inside his massive mansion there was a truck park looking dusty so i ask him why he imported the truck...he said a lady friend contacted him to buy the truck for her she will pay once the truck get to Nigeria ...so the trcuk is here waiting for payment but she refused to pay ..instead she dress seductively and cook better traditional food and bring for cheif ..cheif stay alone his family dey uk ....he told me she just looking at her she requested paying installments ( she be distributor for one big firm) chief no agree ..she try using seduction..
Cheif told me if him touch am 7m naira truck don go be that ....i later sold the truck for him....

ahiboilandgas:
Nigerians are mad and criminal minded group ...me and my friend went to inspect a bungalow for sale from a middle age woman a developer she builds ,furnish,and sale .after agree on price and paying the woman requested 3 months to pack out of the house cos she was staying here ....3 months turn to 8 months we haven't taken physical possession of the house....in between what was happing the woman was toasting and suggesting to befriend my friend...and my friend like woman like mad and honestly the woman is pretty ...so they started cat and mouse relationship..then she suggested he should marry her and allow her stay in the house as his wife ...the idiot almost agreed ..so i told him after paying 35m to her ..that mean u paid a dowry of 35m she is widow with 1 daughter..woman are smart

I think is the lawless nigeria mentality that makes some of them to be criminal minded. Where I am even if you're a crock in Nigeria, the environment here will teach you to be honest and if you think you're smart, you'll always find yourself in jail.

emmanuelewumi:



People who worked hard for their money, who are not greedy, who ask relevant questions hardly fall for scams.

Got a call on Friday night, that they are calling from my bank. They said they observed something is not right with my POS. I asked them to tell me which of the accounts and account number

They caller said Zenith bank. I just cut her off because I don't have a Zenith bank account

That's to tell you that those guys don't get their information from banks as most people say.

They just do guess work, while others get people's information through Facebook, Instagram, NIMS, etc.

Especially for those that likes to put their account details for awof from celebrities

emmanuelewumi:



Because you are an independent woman, who knows the value of money, savings and Investment. Your husband is also a confident man.

I can say a lot of Nigerian men are not confident. Very few men can handle a financially independent woman

I know, I had to change my husband's mindset too with love and assurance that makes him realise that we're from different background and our destinies are different. If you see the way oga installed IP remote cameras all over our house here, you'd say haba...but I don't mind, I'm happy that am one of his treasures. I don't argue with him, i only talk about business ideas and our kids progress cos Money stop nonsense!

Seem like there would be good news for speculators and currency hoarders today

Sholapey:
I know, I had to change my husband's mindset too with love and assurance that makes him realise that we're from different background and our destinies are different. If you see the way oga installed IP remote cameras all over our house here, you'd say haba...but I don't mind, I'm happy that am one of his treasures. I don't argue with him, i only talk about business ideas and our kids progress cos Money stop nonsense!

Weldone Madam.

Keep doing well.

Sholapey:
I think is the lawless nigeria mentality that makes some of them to be criminal minded. Where I am even if you're a crock in Nigeria, the environment here will teach you to be honest and if you think you're smart, you'll always find yourself in jail.

This is what I like most.

No mercy for corrupt individuals

emmanuelewumi:



Thank God you did not agree to getting married to her son.

If not the son will still claim ownership of the property they have sold, through marriage. He will suggest his name and yours to be on the new certificate of occupancy.

I want to believe that the marriage suggestion was the idea of the son.

Don't mix business or Investment with pleasure.

Words on marble

unite4real:


As long as you spend heavily on quality food like you said, then you are expected to cut down on supplements. What are u supplementing when you have a well rounded balanced and quality meal.

You see, busy executives really have no time to eat well, so they spend a lot on supplements. If u eat well, you have less need of food supplements. So cut down on that part.

Bro...thats not true ooo
There are some vitamins that are rare that you can hardly get from our ijebu garri, Abakiliki rice etc (just kidding)
Thanks though

mk82:


Your level of the practice of frugality is determined by your financial/investment plan and projections, the stage you are on those plans as well as your type of business/occupation.
Depending on how you get money, you should have a percentage or amount set aside at regular intervals to invest towards growing your net worth. Once you've met this target for that period, you can decide to be less frugal with the excess money after meeting your basic needs and responsibilities. The rate of accumulation of wealth is directly proportional to how much of your income you are able to invest periodically.

Take for instance a vehicle purchase. Buying a 1.5M tokunbo car may "eat into" Mr. A's investment capital while it will enhance Mr B's status and help him to do better business
The said Mr A could decide to wait for a year or two during which the 1.5M has aided the growth of his investment and be in a financial position to buy a more expensive car without disrupting his financial plan.

It's easy to be thrift once you get rid of negative/unsupportive social influence. If you want to succeed financially, you must learn not to "send" anybody or greatly reduce the number of people you "send"

Thanks bro
You are really a financial analyst...
I shared your response with wifey, "she said nawa o...person go dey multiply, compound, increase, expand, invest more... wen we wan enjoy ni"

I get your point sir

emmanuelewumi:



Just do what you think is best for you and bear the consequences

Short response but impactful
Thank you sir

emmasoft:


Being frugal most times start from the mentality of placing the right value on things without sentiment or emotion, delaying gratification and having in mind that the most expensive things does not necessarily mean the most effective.

Wow!
Mature talk
I keep learning...
My favorite thread...

I concur, most expensive not always most effective

oluwaleokey:


Wow!
Mature talk
I keep learning...
My favorite thread...

I concur, most expensive not always most effective

Do your research, consider the functionality and durability of the product or service