This post is a wake-up call to all Nigerian’s and African youth. Most Nigerian's youth don't generally know how cash function. The reasons why Nigerians youth are constantly Broke are so self-evident.

Youth of nowadays are looking for quick ways of making money and when they manage to make good cash, they spend it on buzz, girls, clothes, expensive shoes and the list are endless. Before you know it, they are back as broke as they were before the money got to their hands. I am not against getting good things or enjoying the pleasure your money can bring, I personally enjoy good things. But was that the only reason why you wanted to be rich? Why are the fool and his money easily parted? Because the fool had no plan for the money, so those that had plans took the money back from the fool through trade.

This new era, youth are so possessed with how to profit that they neglect to utilize the assets inside them to wind up rich. They reprimand it on the legislature for their poor way of life, they are searching for approaches to leave the nation and when they do, everything in their life will turn green.

If you are a youth reading this, I want you to really note down the reasons why most youths in Nigeria are broke and see if you are a victim of these reasons so you can make the necessary change.

1. They Fail to Build Assets

I have seen so many youths in Nigeria who manage to make good money at their early age but as they grow older to the family stage of life, their money depreciates accordingly. One mistake you as a youth will ever make in life is depending on one source of income. With the way the economy is going, one source of income is not a good idea anyone that want to enjoy wealth all through life.

One source of the income limits you from doing much with your money because you have bills to pay and expenses to cover. Most lucky Nigerian youth who manage to get high paying jobs just depend wholly on that job thinking it will be able to take good care of their need because no company has ever paid them such amount or can. But as they get used to that amount, they discover that the money is just not enough and can’t do much. Starting a business or investing in an asset becomes very difficult because it will look like a difficult task thus being broke is inevitably possible.

Young guys who even work in high paying jobs don’t see the reason to either start a side business or build an asset like investing in shares, real estate, or any investment portfolio. They just believe that the job will continue to take care of them till they resign. But unfortunately, when they get laid off and can’t find a good job or any job at all in this present economy, they are back to the being broke.

I will advise every Nigerian youth to make it a duty to always save a certain amount of money so they can build an asset as quickly as possible. Saving ₦10,000 every month will give you ₦120,000 in a year which can be used to invest in real estate deals, used as a down payment to buy a bus which you can use to make money on a balance and carry term.

Think about this, and don’t say the amount you are receiving is enough. No money is ever enough, if it were, the people in government will not be stealing more money to their foreign account when their salary and allowances are a combination of 10 people three months’ salary.

Even if it is ₦3000 you can save every month, do it. Think long term!

2. No Vision for Life

Creating a vision for your life may appear like an unimportant, fantastical exercise in futility, yet it's not: making a convincing vision of the life you need is really a standout amongst the best systems for accomplishing the life you had always wanted. Maybe an ideal approach to take a gander at the idea of an existence vision is as a compass to guide you to take the best activities and settle on the right decisions that move you toward your best life.

Some Nigerian youth lack vision, and they don’t have an idea of a vision for their life. They just believe they will be great in life and no plans toward how it will be achieved. With a vision in mind, you will probably succeed long ways past what you could somehow accomplish without an unmistakable vision. Consider making your life vision as mapping a way to your own and expect dreams. Life fulfillment and individual satisfaction are inside range. The unforgiving truth is that in the event that you don't build up your own vision, you'll permit other individuals and conditions to coordinate the course of your life.

3. Trying to get Rich Quick

An excessive number of individuals are searching for the brisk and simple way out of destitution and are attempting to get rich quick. Whether it is a hot stock, work or business thought, an excessive number of us chase the idea that we can come into phenomenal riches overnight. Tragically, it doesn't work along these lines. You need to put in the diligent work to end up rich. We see the rich now supposing they got fortunate or made it without much work. Be that as it may, we don't see in the background at exactly the amount of work they put in to get where they are today.

Are you a victim of these reasons just explained above? You can make a difference in your life if only you start planning towards your financial future which involves having a clear vision of where you are going to in life and how you plan to get there, build or buy asset for the long term and don’t answer any get rich quick advert because it is not you that finally get rich but the person selling it=====>http://www.westentrepreneur.com/386/3-reasons-nigerian-and-most-african-youth-are-always-broke



cc:lalasticala

Nice one

ufuosman:
Nice one

Thanks.

aki u ar rite.

newyorks:
aki u ar rite.

They say the first step to solving a problem is identifying it first. So here we are identifying them. Am glad you attest to that too.

Exactly.Save 10k every month and get a bus

Saving a little of our income on monthly basis will do the magic. Thanks for this write up. I need to re-strategies.

Thanks OP.. my problem is spending.. I can spend 98% of d cash on me nd I will save that 2% like mad.. why can't I save dat 98%?... This is just my problem

Seriously its time we change approach.
In that I will advice you join www.westentrepreneur.com a business and entrepreneurial forum that discuss business ideas and other legitimate ways to make money and improve our living. www.westentrepreneur.com

Hmmmmm, nice one ops. I just blow up my savings nd assets on my little bro nd sis education, I'm not in myself. U can understand d plight of being a senior.

I like this


Thanks OP

All these stuff about managing this n saving that can't be put in practice in real time, when salaries are on the low and commodities are high.

Op solve this

How does a corper who earns 19,800 save and manages for a year with no uncle or aunties or family to assist, his expenditure goes thus

500 for tfare everyday

Pays 300 for every cds

Lodge is overcrowded hence the need to rent an apartment, he needs to rent an apartment and he doesn't want to go home after nysc

Saed takes 2k or more every month

Repeats one particular type of food so as to save cost

He also has plans in getting other certifications and all, still has dreams of starting his own business

Note with all of these his health is deteriorating because he doesn't rest, painkillers are the order of day, always battling with malaria because he is trying to "manage" drinking water is out of it so he buys purewater everytime

Also goes looking for extra income and opportunities

Oya I leave the rest to you

When your set time has come, nothing can stop you

#nuffsaid

jeff1607:
All these stuff about managing this n saving that can't be put in practice in real time, when salaries are on the low and commodities are high.

Op solve this

How does a corper who earns 19,800 save and manages for a year with no uncle or aunties or family to assist, his expenditure goes thus

500 for tfare everyday

Pays 300 for every cds

Lodge is overcrowded hence the need to rent an apartment, he needs to rent an apartment and he doesn't want to go home after nysc

Saed takes 2k or more every month

Repeats one particular type of food so as to save cost

He also has plans in getting other certifications and all, still has dreams of starting his own business

Note with all of these his health is deteriorating because he doesn't rest, painkillers are the order of day, always battling with malaria because he is trying to "manage" drinking water is out of it so he buys purewater everytime

Also goes looking for extra income and opportunities

Oya I leave the rest to you

When your set time has come, nothing can stop you

#nuffsaid

I understand fully well where you are coming from.
But have you heard the saying that dependence on government and invariably on salary is slavery of our modern age.
At this stage I don't necessary need to start stating a formula to help you conserve the not have cause the earning is a not have, sorry to say but even if it was 100k its still a not have especially for a man.

The solution is to adopt the entrepreneur mindset. Its time you turn to other possible legitimate ways you can make money. Believe me there is no financial security depending on salary. If you want to change the story for good join us @ www.westentrepreneur.com
Its a business and entrepreneur forum geared at providing Nigeria youth a means to secured livelihood above unnecessary lack. Join today and browse through the already listed ideas to make money. If you already have an idea in mind you can create a thread asking question on it and everybody will share their thoughts and expertise on it and the admin will research and provide your reports and business plan all for free. Join now www.westentrepreneur.com

businessbox:


I understand fully well where you are coming from.
But have you heard the saying that dependence on government and invariably on salary is slavery of our modern age.
At this stage I don't necessary need to start stating a formula to help you conserve the not have cause the earning is a not have, sorry to say but even if it was 100k its still a not have especially for a man.

The solution is to adopt the entrepreneur mindset. Its time you turn to other possible legitimate ways you can make money. Believe me there is no financial security depending on salary. If you want to change the story for good join us @ www.westentrepreneur.com
Its a business and entrepreneur forum geared at providing Nigeria youth a means to secured livelihood above unnecessary lack. Join today and browse through the already listed ideas to make money. If you already have an idea in mind you can create a thread asking question on it and everybody will share their thoughts and expertise on it and the admin will research and provide your reports and business plan all for free. Join now www.westentrepreneur.com

Well said

most people do have plans and business ideas but what holds them back is lack of capital

But bros una de give start up loans?

jeff1607:



Well said

most people do have plans and business ideas but what holds them back is lack of capital

But bros una de give start up loans?

Presently we don't but I will advice you join as you would get a chance to learn easy ways to get loan for capital and you can also get angel investors and also partnership from there.

Good news indeed