Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,421,989 members, 5,433,312 topics. Date: Thursday, 20 February 2020 at 04:32 PM

3 Terrible Financial Mistakes You Are Making As A Youth - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / 3 Terrible Financial Mistakes You Are Making As A Youth (35087 Views)

Reasons Why Others Are Making Money Online and You Are Losing Money / Four Common Financial Mistakes Most People In Nigeria Make / 5 Financial Mistakes New Business Owners Should Avoid (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by GrandHype: 1:47pm On Oct 02, 2019
Correct
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by devigblegble: 1:47pm On Oct 02, 2019
Maybe joining a group of about 20, where everyone put money together and one person takes everything on a weekly base . This method has helped me a lot.. example I make $5500 every month and I make sure $1200 goes to the savings while the rest goes into bill payment, food personal upkeep and so forth
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Unik3030: 1:48pm On Oct 02, 2019
Tumbulum:
Hahahahahaha. Easier said than done. Test book business men everywhere.
dont mind them, a motivational speaker will tell u he has been making 10 million naira per month since 10 years ago n he's still staying in a rented apartment. many of them loose touch wit reality

5 Likes

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by SoNature(m): 1:48pm On Oct 02, 2019
Biafranbushboy, some of these points are debatable. When you do business in Nigeria, you will understand that Nigeria's peculiarities beat common sense.

A good investment article will break down how much you should invest, in what venture and what you are likely to make over what period of time. It goes without saying that there will be some calculations.

You see, running a business in Nigeria is no child's play. Go and ask people. A lot of people who keep shouting investment up and down know next to nothing about it.

Look, in Nigeria, if you are not the one running your business yourself, people will frustrate you. A typical Nigerian has a very bad intent...we are only interested in what we gain from our company.

It's even worse that some employees steal from the same company that pays them monthly salaries. They don't have sympathy at all.

More importantly, any business you don't understand perfectly, don't do it on Nigeria. Most Nigerian workers are criminals in suit and coveralls.

Also, you invest in people's businesses with an agreement that they will pay you a particular profit. Later, they come back to tell you stories because the payment date is due. Yes, they know that if you arrest them, they can only tell the police that they will pay you peanuts in a period of 10 years.

Finally, it's better you leave your hard-earned money in your account and wake up to see it every day than get into a silly business because you want to have multiple streams of income. In the long run, you just lose everything.

10 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Sheriman(m): 1:49pm On Oct 02, 2019
Abeg Where are the jobs in Nigeria that can earn you 100K 200k per month I want answers

4 Likes

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Anuoluwapo3054(m): 1:50pm On Oct 02, 2019
you are on point guy....truth be told, those billionaires won't tell you what lies under their huge investment. tension everywhere
Eddygourdo:
Happiness in life is not dependent on how much you make, but how much problems you face.

You might make 50k and all ur problems are worth 20k, while someone else might make 100k and all his problems are worth 95k. Who exactly has it best in life? That's higher earner? I doubt that.

Work hard, love alot, try to be happy and merry with the little your hard work gives you. Because death is always knocking and soonest it could be time for the door to open.

What does it profit a man to save all an invest all, suffering himself in the process only to use the money to treat and manage an ailment which will eventually kill him anyway.

1 Like

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by nnamdibig(m): 1:50pm On Oct 02, 2019
BiafranBushBoy:

So that you copy and spoil the market?
Don't you have brains to be innovative and solve a problem?
You with innovative and creative brain, How have you been able to copy Dangote or Tony Elumelu to spoil their market??

1 Like

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by sheller(m): 1:51pm On Oct 02, 2019
they said information is power please I need someone to carry me along with any online stuff dt can add at least a penny to my income God bless u all
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Burchester: 1:52pm On Oct 02, 2019
hmm
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Unik3030: 1:52pm On Oct 02, 2019
BiafranBushBoy:


So that you copy and spoil the market?

Don't you have brains to be innovative and solve a problem?
if u have the brain u claim u have, u won't b here talking crap.we all know na hustle mode we all dey so don't try to form dangote here

5 Likes

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by CanadaOrBust: 1:55pm On Oct 02, 2019
BiafranBushBoy:
Join the contribution and tell me, which other financial mistakes do you think people are also making?

lazy ass people always filled with complaints!!

Nawa for some 9ja youths who prefer BB9ja over setting up something for themselves!!!


Looking to invest?

Click here to See the best investments in Nigeria

The truth is that no normal activity (including all these) can make u rich (or majority of people will be rich). That’s just the way things are set up. To be rich u need to somewhere along the line have stepped into warp speed, bending space-time

4 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by javaguru: 1:55pm On Oct 02, 2019
how do we make this money OP
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by maum: 2:07pm On Oct 02, 2019
This is a very good, thought-through writeup. Thanks for sharing. It'll definitely help if implemented.
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by JayPeeOham(m): 2:08pm On Oct 02, 2019
This article is way beyond some of the Nigerian Youths' income o grin

OP I suggest you should have used a flat rate of 50k for starters like us as it is the average income of any fresh Nigerian graduate.

I also second the opinion of no excuse because no matter where, when and why you fail no one wants to listen to your excuse if you've not succeeded!

On the other hand, no one cares how you make it, just make it!

In addition, multiple streams of income is the way to go in order to gain financial freedom. cool cool

4 Likes 2 Shares

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by jclassiq(m): 2:14pm On Oct 02, 2019
ednut1:
If i slap that ya face. Naso i go do cat fish business in the name of multiple source of income. One naira i no make. As a youth if u have money buy land and build houses for rental income

Rule no 1: never pour your money into an investment that is not simple enough for you to understand.

4 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by BiafranBushBoy: 2:14pm On Oct 02, 2019
Unik3030:
if u have the brain u claim u have, u won't b here talking crap.we all know na hustle mode we all dey so don't try to form dangote here

That's your mistake.

Trying to be dangote and otedola.

The guy that founded paystack, is he Dangote or Otedola?

Is he not 20x richer than your broke ass?

Keep comparing people to Dangote instead of working your lazy ass off!!!

3 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by BiafranBushBoy: 2:16pm On Oct 02, 2019
nnamdibig:


You with innovative and creative brain,
How have you been able to copy Dangote or Tony Elumelu to spoil their market??

You see your reasoning ability?

Those men had a good hewdstart, that doesn't mean that the founder of GTBank wasn't able to break the monopoly and several other banks.

I don't have the headstart, so I prefer keeping it low.

GOODLUCK with your lazy quest in looking for ideas to steal.

2 Likes

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by jclassiq(m): 2:16pm On Oct 02, 2019
Eddygourdo:
Happiness in life is not dependent on how much you make, but how much problems you face.

You might make 50k and all ur problems are worth 20k, while someone else might make 100k and all his problems are worth 95k. Who exactly has it best in life? That's higher earner? I doubt that.

Work hard, love alot, try to be happy and merry with the little your hard work gives you. Because death is always knocking and soonest it could be time for the door to open.

What does it profit a man to save all an invest all, suffering himself in the process only to use the money to treat and manage an ailment which will eventually kill him anyway.


This is a crappy mindset bro. Honestly.

1 Like

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Michhy123(f): 2:17pm On Oct 02, 2019
passyhansome:
I Have Never Met A RICH Person Who Has Never lost Money but I Have Met A Lot Of POOR People Who Has Never Lost A Dime-Robert Kiyosaki-

The Primary Difference Between The RICH & The POOR Is How They Handle FEAR in Investment -Robert Kiyosaki-

Have Positive mindset about investment. You can NEVER be Rich if you are too SCARE of losing Money

SALARY alone can not solve your money problems. You need Secondary Source of income to balance

SALARY is the MEDICINE for managing POVERTY, it doesn't CURE it. Only your BUSINESS or INVESTMENT Cure Poverty

Be FINANCIAL INTELLIGENT
That is why u see us venturing into stuff like Norland, longrich, aim global and at the end mmmmmm

2 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by BiafranBushBoy: 2:18pm On Oct 02, 2019
SoNature:
Biafranbushboy, some of these points are debatable. When you do business in Nigeria, you will understand that Nigeria's peculiarities beat common sense.

A good investment article will break down how much you should invest, in what venture and what you are likely to make over what period of time. It goes without saying that there will be some calculations.

You see, running a business in Nigeria is no child's play. Go and ask people. A lot of people who keep shouting investment up and down know next to nothing about it.

Look, in Nigeria, if you are not the one running your business yourself, people will frustrate you. A typical Nigerian has a very bad intent...we are only interested in what we gain from our company.

It's even worse that some employees steal from the same company that pays them monthly salaries. They don't have sympathy at all.

More importantly, any business you don't understand perfectly, don't do it on Nigeria. Most Nigerian workers are criminals in suit and coveralls.

Also, you invest in people's businesses with an agreement that they will pay you a particular profit. Later, they come back to tell you stories because the payment date is due. Yes, they know that if you arrest them, they can only tell the police that they will pay you peanuts in a period of 10 years.

Finally, it's better you leave your hard-earned money in your account and wake up to see it every day than get into a silly business because you want to have multiple streams of income. In the long run, you just lose everything.

This isn't an investment article, it is basically on financial mistakes being made by youths.

Also, I dropped a link to some investments that are worth it...

Lastly, business is the same everywhere irrespective of location.

What varies are just challenges.

Let me tell you, it is more challenging to make it outside Nigeria because of one thing...

Tax!

5 Likes 2 Shares

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Nobody: 2:19pm On Oct 02, 2019
SoNature:
Biafranbushboy, some of these points are debatable. When you do business in Nigeria, you will understand that Nigeria's peculiarities beat common sense.

A good investment article will break down how much you should invest, in what venture and what you are likely to make over what period of time. It goes without saying that there will be some calculations.

You see, running a business in Nigeria is no child's play. Go and ask people. A lot of people who keep shouting investment up and down know next to nothing about it.

Look, in Nigeria, if you are not the one running your business yourself, people will frustrate you. A typical Nigerian has a very bad intent...we are only interested in what we gain from our company.

It's even worse that some employees steal from the same company that pays them monthly salaries. They don't have sympathy at all.

More importantly, any business you don't understand perfectly, don't do it on Nigeria. Most Nigerian workers are criminals in suit and coveralls.

Also, you invest in people's businesses with an agreement that they will pay you a particular profit. Later, they come back to tell you stories because the payment date is due. Yes, they know that if you arrest them, they can only tell the police that they will pay you peanuts in a period of 10 years.

Finally, it's better you leave your hard-earned money in your account and wake up to see it every day than get into a silly business because you want to have multiple streams of income. In the long run, you just lose everything.

You sound very experienced, just by reading your post I know you have employed a Nigerian at one point. They are the worse set of people to have as your staffs. Little wonder dangote has foreigners as his top managers .

Any day I'm able to have a lebanies or Indian manage my business then I will know I have arrived.

1 Like

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by b0rn2fuck(m): 2:23pm On Oct 02, 2019
Madibah:
All my savings is for flexing on Sunday night grin
the moment you keep saving and watch your friend die while starving himself of hunger, only for you to open his account and found millions, this also remind me of a man who they try to borrow 50 only to complete his operation, walahi, baba die in mowe after but 170k was found in his account, I live to save but not starve myself because tommorow death can come but at least roof your head with your own house even if na one room and business of your own but I won't save and play with my health and food, I don't care about cloth or car

2 Likes 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by BiafranBushBoy: 2:23pm On Oct 02, 2019
Netanyahu1:


You sound very experienced, just by reading your post I know you have employed a Nigerian at one point. They are the worse set of people to have as your staffs. Little wonder dangote has foreigners as his top managers .

Any day I'm able to have a lebanies or Indian manage my business then I will know I have arrived.

You said nothing but the truth.

Most Nigerians are mentally lazy towards work and not willing to give it all of it isn't their business.

Little wonder majority of them can't handle a business.
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by DaddyGngeess(m): 2:27pm On Oct 02, 2019
ednut1:
If i slap that ya face. Naso i go do cat fish business in the name of multiple source of income. One naira i no make. As a youth if u have money buy land and build houses for rental income




Sorry man, u didn't learn how to do it very well
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Eddygourdo(m): 2:27pm On Oct 02, 2019
jclassiq:


This is a crappy mindset bro. Honestly.
time proves everything. You will see that nothing means anything afterall. Simply be contented with the hand that you were dealt. However isn't imply that you shouldn't work hard everyday and give your best. Just don't be sad when you best doesn't still being you succor. Life is cruel to us all.

4 Likes

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Nobody: 2:30pm On Oct 02, 2019
BiafranBushBoy:
Join the contribution and tell me, which other financial mistakes do you think people are also making?

lazy ass people always filled with complaints!!

Nawa for some 9ja youths who prefer BB9ja over setting up something for themselves!!!


Looking to invest?

Click here to See the best investments in Nigeria

I used to read ur post on Nairaland and I had d impression u were a trouble packaging grin

But u changed my perception with dis GREAT PIECE...

A BIG BANG KUDOS Bros...

1 Like

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by drezzyx(m): 2:32pm On Oct 02, 2019
CAN ANYONE LINK ME WITH A GENUINE ONLINE JOB THAT PAYS AT THE END OF EVERY TASK EVEN IF IT IS MORE THAN ONE.
SERIOUSLY NEEDS ONE.
THANKS
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Nobody: 2:33pm On Oct 02, 2019
ednut1:
If i slap that ya face. Naso i go do cat fish business in the name of multiple source of income. One naira i no make. As a youth if u have money buy land and build houses for rental income
What brought slap into this serious issue? I'm 1000% sure, you're not up to 14 years of age!
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by uuzba(m): 2:33pm On Oct 02, 2019
Sheriman:
Abeg Where are the jobs in Nigeria that can earn you 100K 200k per month I want answers
anything Management job.
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Nobody: 2:34pm On Oct 02, 2019
Eddygourdo:
Happiness in life is not dependent on how much you make, but how much problems you face.

You might make 50k and all ur problems are worth 20k, while someone else might make 100k and all his problems are worth 95k. Who exactly has it best in life? That's higher earner? I doubt that.

Work hard, love alot, try to be happy and merry with the little your hard work gives you. Because death is always knocking and soonest it could be time for the door to open.

What does it profit a man to save all an invest all, suffering himself in the process only to use the money to treat and manage an ailment which will eventually kill him anyway.


What a Shitty Mindset u got here Bros...

I really don't mean to be rude.

1 Like 1 Share

Re: 3 Terrible Financial Mistakes You Are Making As A Youth by ChidiAlaigbo: 2:35pm On Oct 02, 2019
thesicilian:
There are no employees among the list of world's richest men.

And exactly what is the point of becoming the world's richest man or among the richest in the world?

I want answers to this question please....
Re: 3 Terrible Financial Mistakes You Are Making As A Youth by Madibah: 2:35pm On Oct 02, 2019
b0rn2fuck:
the moment you keep saving and watch your friend die while starving himself of hunger, only for you to open his account and found millions, this also remind me of a man who they try to borrow 50 only to complete his operation, walahi, baba die in mowe after but 170k was found in his account, I live to save but not starve myself because tommorow death can come but at least roof your head with your own house even if na one room and business of your own but I won't save and play with my health and food, I don't care about cloth or car

True talk o

Life is too short

(1) (2) (3) (4) (Reply)

EFCC Recovers N27.7b From Six Banks For Withholding Tax / Folorunsho Alakija: Without A University Degree, I Became A Billionaire / NIBSS: Stop! Or You Drown Us All

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 430
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.