I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Keep a note reflect on the list contained time to time. This will help your decion making improve

totally following, cus sometimes i wonder where the money for savings would come from with the little one has, tho am in my early 20's.

Don't worry about tomorrow.

Just keep on helping people.
If tomorrow comes,
I assure you you will be alright!

Use what you have to do what you can, where you are

I learned this a bit late, though, not too late. If you have above 100K lying dormant in your savings account, then you're not smart enough to know that the money being kept in savings account doesn't yield interest. You're simply helping the banks without getting help for yourself. Get a current account rather, make sure that big transactions go through your current account. The reason for this is, you could use your current account bank statement to secure a loan going by how frequent funds pass or go in there even on a zero balance. Your savings account can't give you this privilege and should be used for your day-to-day transactions.

Secondly, who said 'investments' are for the rich? Go to any Merchant Bank, there are portfolios you could use for as low as 5k monthly investment. They'll also put you through in owing 'shares' and more.

GrabHisBalls:
I Get a current account rather, make sure that big transactions go through your current account. The reason for this is, you could use your current account bank statement to secure a loan going by how frequent funds pass or go in there even on a zero balance. Your savings account can't give you this privilege and should be used for your day-to-day transactions.

What kind of LOAN?
And which bank offers such service?

pocohantas:


What kind of LOAN?
And which bank offers such service?

Sterling bank gives currently that I know of. Some other financial institutions use current account statement not exceeding 6months too.

OP, you have been through a lot and that has made you connect with the empathetic side of you. Humans like your type, they take advantage of your type, they emotionally blackmail your type...

Somehow they don't know you give just because it is who you are. They think you are "mugu" or one with few responsibilities. Been there, done that...not anymore.

You need to learn to say NO and mean it. Before they tell you their problems, start telling them yours. Buhari is still the President abi?

Look around and you might identify a need that can enable you diversify. There is real estate and if you are looking for how to invest your "cash"- look beyond (Tier 1) commercial banks. They don't encourage such. Other financial houses, including MFBs are your best bet.

Also be careful of the kind of woman you let into your life. All these new-generation slaykwins that live for the moment are very bad for a struggling young man.

GrabHisBalls:
Sterling bank gives currently that I know of. Some other financial institutions use current account statement not exceeding 6months too.

To give what kind of LOAN?

pocohantas:


To give what kind of LOAN?

I don't work with the bank so can't disclose further information. I know my bro got 600k from them two months ago with his current account statement and the interest rate was good. All he needed to do was to sign deposited post dated checks for them, no collateral and it didn't take more than a week to process.

You could visit any of their branches if you need one. If you were in PH, I would've recommended RIRS. They give from 800k to millions, but you must have a business.

GrabHisBalls:
I don't work with the bank so can't disclose further information. I know my bro got 600k from them two months ago with his current account statement and the interest rate was good. All he needed to do was to sign deposited post dated checks for them, no collateral and it didn't take more than a week to process.

You could visit any of their branches if you need one. If you were in PH, I would've recommended RIRS. They give from 800k to millions, but you must have a business.

I know of the process and such quick credits though, I just wanted to know if you were referring to a specific type of loan. A bank statement whose turnover can carry 600k isn't a "small" one and anyone that can raise such statement definitely has a business doing- like you rightly pointed out.

Such person can afford to have a corporate account, but choose not to. So, savings acct isn't the person's problem

Tbh, OP doesn't come off like that person. Business people do their philanthropy with sense...

pocohantas:


I know of the process and such quick credits though, I just wanted to know if you were referring to a specific type of loan. A bank statement whose average turnover amounts to 600k isn't a "small" one and anyone that can raise such statement definitely has a business doing- like you rightly pointed out.

Such person can afford to have a corporate account, but choose not to. So, savings acct isn't the person's problem

Tbh, OP doesn't come off like that person. Business people do their philanthropy with sense...

Yes, it's a specific type of loan, but don't know what it's called. The information I have is that you only need to own a current account with a good transaction history.

I can't come and be doing free marketing here.

As for the OP, he should visit Merchants Banks. They'll help him invest in productive ventures. The current account information is for all and sundry. You never can tell who has all his/her savings kept redundant in savings accounts.

@Op,

I would have love to give u detailed information on what u should do, but I can't type much here. However, you just have to be careful on how u spend ur money at this stage of ur life.

To stay financially enabled at all times requires a lot of discipline.

amtheone:
@Op,

I would have love to give u detailed information on what u should do, but I can't type much here. However, you just have to be careful on how u spend ur money at this stage of ur life.

To stay financially enabled at all times requires a lot of discipline.

oya naa coman type naa.....lalasticlala

What do you do for a living?

Acidosis:

What do you do for a living?

Communications

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Start a project, you already said they ejected you from your house when you were young. Do you have a permanent roof over your head now?

Some of us are not good at saving, so the best way to go about this is to have something going on for us.

Ok

The best way to save for the future is to invest in today






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Don’t loan any amount more than you are willing to dash that person. You owe no one a loan. One trick I learned from my grandma was to start telling your askers your own needs in an exaggerated way that they forget their requests and start pitying you!
Oh and any extra money you are not planned for, just drop in treasury bills and forget them there, there is no limits to how many you can have before you be like my dad who did chairman to many people only to find out the people he was helping were building houses and investments while he had nothing to his name!

REDUCE YOUR SPENDING ON BOOZE INTAKE and STAY VERY FAR AWAY FROM WOMEN (you know what I mean)...


....others should follow

My nigga,it's better to be thrifty(i.e stingy) than to be benevolent to those who'd turn their backs on you when you begin to face the dark side of life...Guy,i'm in my late 20's and i've experienced this...save for your future,though you may be a little kind but saying a "NO" to some request doesn't mean you are wicked....also,be mindful of the kind of friends you keep,that'll help you 2..

Giving to charity will never make a man poor even if you give out half of what you own. This is one thing I am so sure about. Fight the battle spiritually and gather the spoil physically. Life isn't by struggle

THINK ABOUT SAFEGUARDING YOUR FUTURE. THINK INSURANCE. CONTACT ME FOR MORE INFO

1
Create A Spreadsheet
Instead of constantly trying to work things out in your head and making rough estimates on how much money you have left for the month, make things a whole lot easier by creating a spreadsheet. At first glance, these can seem a little daunting but it’s really easy once you get used to it and there are many free spreadsheet websites online which work out all the sums for you. By having your outgoings on a list in front of you, you can identify what you’re saving on and what you perhaps need to cut back on.

2
Avoid Shopping When You’re Feeling Emotional Or Hungry
You’re feeling a little down in the dumps but you need a new work shirt - bad idea. Turn around, get back inside the house, lock the doors, and ask someone to hide your keys right now – if you’re feeling emotional there’s a high chance you will end up splurging on stuff you don’t really need to give you a quick happiness boost. After spending five minutes looking for a shirt, you return with a few tins of paint to revamp the house, a new wardrobe of clothes, and a mop for the kitchen floor, but the new work shirt is nowhere to be seen.

Whilst these spur-of-the-moment purchases may uplift your mood for an hour or two, the initial high will soon wear off and you’ll be left feeling worse as you realise you’re left with nothing more than a few bargains and a less bank account. For a thriftier approach to shopping, go when you’re in a pretty good mood and – whatever you do – don’t shop for groceries when you’re hungry.

3
Surround Yourself With Exciting Hobbies And Positive People
Rather than spending money on takeaways and meals out to cheer you up after a long hard day, identify other things you like doing that will boost your mood instead of spending money. Arrange some fun things to do with family and friends around your house or take up a new hobby such as gardening or crafts. We often end up spending more when we’re bored, emotional, and/or lonely so plan a film night with your family or buy a few ingredients from the grocery store and try cooking something you’ve never made before.

4
Save Little And Often
It’s a common mistake to think that you can’t start saving because you don’t have much money, but that’s like saying you won’t go on that one hour run because you don’t have the whole day off to exercise – it’s counterproductive and unrealistic.

Experts advise that the best way to boost your bank balance is by taking the ‘little and often’ approach to saving. Rather than putting a lump sum of your month’s wages into a savings account and leaving very little to live off for the rest of the month, just put a small amount away as often as possible and the money will mount up without you even noticing it. The more you see your bank balance rising, the more you will want to keep adding to it. Go on, try it – it’s addictive.

5
Put Some Money Aside For Pleasure
It’s important to treat yourself occasionally to avoid getting frustrated and spending all your savings at once, so make sure you include a little “happy time” money in your budget to treat yourself every now and again. Do you want a new television for the living room? Save up for one. Fancy a small break somewhere nice? Save up for it. Once you’ve saved up for something and reached your target amount, you’ll feel much better than you would if you spent money that you didn’t really have in the first place.

6
Read A Finance Blog Or Make Your Own
Personal finance blogs are becoming an increasingly popular form of inspiration for many people; they can encourage you to save and adopt good financial habits in the process. It’s also really interesting to take a sneaky peak into the lives of other people and see what they enjoy the odd splurge on. If you’re feeling really brave, you could create your own finance blog to share your own tips and advice with others. This will not only help you to network with other people in the same financial mindset as you, but it will encourage you to save more so that you can feel extra proud of yourself when you share how well you’re doing with others.

7
Get Support
If you’re really feeling the pinch and you need advice, don’t feel ashamed to seek support from others. You may feel like a little fish in a big pond when it comes to finances, so seek advice from a financial expert who will have a lot of experience dealing with problems like yours. Your financial adviser will come up with a realistic plan to help you sort out any money difficulties. Perhaps even check for a free government run money advice service, rather then forking out for a private professional.

OP, you need to keep detailed records of your expenses. You can download an expense tracker (I use daily expenses 3) and input all income & expenses. This way, you'll be able to see where your money is going more clearly. By the time you see the exact amount you used to do father Christmas, you'll slap yourself and cut down on it .

Also, you should decide on a minimum percentage of your income that you'll save/invest and when you get cash, send it away. You can lock it in an investment like the AXA Mansard MMF or others (I mentioned that because that's what I use).

Finally, with the way our wonderful economy is going, swapping free cash for dollars is a good idea and the chances of you dashing out dollars are lower....I hope

stay away from girls