Whynotthetruth:
God bless you more and enrich your stock of wisdom...
I am still battling with that ability to say NO both to relatives and strangers...I love to help out always... Had issues severally with my parents as a boarding school guy in secondary level and even through my university then...because once I am out of my compound accompanied by folks from supposedly "not as rich" as my family, who I always give prior invitation and who go to school from their houses. I will share my pocket money to them according to my instincts on their 'needs' ...and reserve only t.fare to school...Once in school and faced with monetary challenges, I will start bombarding my parents with 'cry for help' letters...Unfortunately for me, they always find out what I used my pocket money for because parents would come trooping to my house to thank my parents for the monetary gifts without knowing how much trouble they are putting me into....Anyway, the lashing out & harassment from my parents(they weren't as rich as my little brain was imagining), was part of my motivation to make sure I get plenty money early enough so as to help the less privileged with my own money with no parents to harass me again Today, I see myself carrying people's crosses with nobody to assist in mine coupled with the fact that I can't even say NO with the "excessive" burden...BTW I haven't gotten the "plenty money" yet but God is awake and surely will provide abundantly more than I can ask thanks boss Dearpreye

Whynotthetruth:
God bless you more and enrich your stock of wisdom...
I am still battling with that ability to say NO both to relatives and strangers...I love to help out always... Had issues severally with my parents as a boarding school guy in secondary level and even through my university then...because once I am out of my compound accompanied by folks from supposedly "not as rich" as my family, who I always give prior invitation and who go to school from their houses. I will share my pocket money to them according to my instincts on their 'needs' ...and reserve only t.fare to school...Once in school and faced with monetary challenges, I will start bombarding my parents with 'cry for help' letters...Unfortunately for me, they always find out what I used my pocket money for because parents would come trooping to my house to thank my parents for the monetary gifts without knowing how much trouble they are putting me into....Anyway, the lashing out & harassment from my parents(they weren't as rich as my little brain was imagining), was part of my motivation to make sure I get plenty money early enough so as to help the less privileged with my own money with no parents to harass me again Today, I see myself carrying people's crosses with nobody to assist in mine coupled with the fact that I can't even say NO with the "excessive" burden...BTW I haven't gotten the "plenty money" yet but God is awake and surely will provide abundantly more than I can ask thanks boss Dearpreye

blessingee:
At your spare time, y'all can read Robert Kiyosaki's "Rich Dad, Poor Dad" ...That was how my journey to financial freedom started...You can watch a few of his seminars on youtube, especially the one on "Financial Intelligence"

God bless you OP for the insight....

Lastly, always read books on financial intelligence, financial mgt, money etc...they will keep reminding you of the need for financial freedom

Mayany:
Nice one op, i have been following this thread carefully thanks to all that have contributed so far, one other factor that leads to financial recklessness is the kind of friends you keep, if they are the type that only discuss girls,clubs,drinks etc you better change your cycle

blessingee:



I must say you have a good heart, but you should be able to draw the line, there is nothing bad in helping others, like the popular saying..."too much of everything is bad"

Whynotthetruth:


Thanks bro...Articles like this prompts me to keep striving to draw that line...but my emotions most times fail me whenever I see tears or pains of others...I pray for the grace...Amen...thanks again...

dearpreye:


Some of us indeed have the natural penchant to give. It's a very good call. ...but wisdom must prevail.

dearpreye:


Was there any financial mess I got us in that she didn't foresee and warn me against? No! My stupid and weak ego simply be clouded my judgment from receiving the FREE financial adviser staying next to me!

The worst is, I took the decision alone; WE bore the ugly consequences TOGETHER.

dearpreye:


Was there any financial mess I got us in that she didn't foresee and warn me against? No! My stupid and weak ego simply be clouded my judgment from receiving the FREE financial adviser staying next to me!

The worst is, I took the decision alone; WE bore the ugly consequences TOGETHER.

Specialist900:
Dearpreye, from your epistle I saw the handiwork of mizmycoli in your life.


Thanks for the eye opener, I'm adopting it ASAP.

2wks after salary person go don broke. Other people dey plan their lives on your salary

Your own better.
Some peeps dun dey owe themselves 2 months arrears gan.

Dearpreye, Good Afternoon and Thanks A lot

macino1:
Nice one!

The TRUTH is: Most people buy THINGS they DON'T NEED with the MONEY they DON'T HAVE to IMPRESS people they DONT LIKE.

Just living for others unknowingly.

Meanwhile, having money and the wisdom to manage it hadly goes together. Some have money but lack the management skills. Others have the management skills but have limited opportunity of making money. Only few are favoured to have both (the rich). Finally, na God get power.

dearpreye:

Emotions? They can blackmail us a great deal.

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.

MizMyColi:


Your own better.
Some peeps dun dey owe themselves 2 months arrears gan.

Dearpreye, Good Afternoon and Thanks A lot

dearpreye:


Good afternoon, my lady!

And you're most welcome. ...

MizMyColi:

dearpreye:


Was there any financial mess I got us in that she didn't foresee and warn me against? No! My stupid and weak ego simply be clouded my judgment from receiving the FREE financial adviser staying next to me!

The worst is, I took the decision alone; WE bore the ugly consequences TOGETHER.

Woreva:



That is exactly what happens in every home where the man fails to carry the wife along (especially in matters concerning finances), and when "yawa" now "gases", they now come back home with their tails between their legs, hoping the woman "would understand", or tag it as the "will of GOD", whereas, if they had listened to sound advice from their woman, the financial mishap would have been avoided.

I'm talking from experience, or should I say experiences (because it still happens once in a while)- may GOD help our men!

dearpreye:
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.

robinicule:
THIS LAND IS NOT FOR SALE!

blackjack21:


Sir, please create a thread about on financial literacy so that I will learn something on it.[/b]

Please mention me when you do.

I'll endeavour. And I will mention you. But considering that topic will do some good for us all.







14:54:03
Fri, Jul 3, 2015

dearpreye:


We need more money, you know!

Miami beach is expensive

Lols
I prefer Barcacelona

MizMyColi:


Lols
I prefer Barcacelona

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.

Tex42:
These are the kind of threads that should making from pages on here,not some rule of love and Tonto Dike trash.

Following the masters, learning from their mistakes and amassing knowledge on how to build my dream empire.

Thanks @Op.