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!

Solomon8144:

I learnt this the hard way. I got into a relationship that completely ruined me now i got less than 10k naira in my account unlike before i had close to 500k in my account before i got into one over clingy relationship even up till today my stupid self is still yet to break up tho she graduated already I'm waiting for her to move away from school area then i black her out completely.

I bleeped up. Relationship is really expensive for a struggling guy. I got up to 150k debts on my neck now and i can't ask my parent for money anymore cos I used to help them even help my younger ones in school and my other brothers when they got any problem that i can assist. They think I'm able to take care of myself now i. Can't imagine myself calling my mom to ask her for 2k chaii i no fit o.

I'm back to square zero I'm just in school with nothing.

I ruined my life myself instead of us to just sex the sex we actually wanted i went to stupidly ask her out.
This life sef

GrabHisBalls:
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 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.

pocohantas:
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.

Godson214:


I don’t know if it is the real piggy vest that I am downloading. Does it require me to input my bvn??

Sambaby7640:
can you lose your money in those investments?

Like if you put 150k will it keep growing without reducing or there is a probability that you can lose your investment?

Franky826:


How?

sheniswat:


leadway assurrance has this in place. It is called Leadway Investment Plan

Pay Day Investor by ARM investments also is good.

Both are dully registered under SEC.

You should always do due diligence. Investment is not magic so don't be greedy

studentofTruth:


Please sir, I'm sent you a DM for mentorship. I thought I was trying hard, but you just slapped my face.

Franky826:



I absolutely love your advice!

Can we be friends?

JomoGbomo2:


Yes of course, we are friends!!!

Archmage:
You can put money in a Money Market Fund

Hauneg:

Happy birthday!
May your path be forever bright and blissful

Archmage:
thank you very much. I deeply appreciate this. Why the tears?

Hauneg:

I clicked the teary emoji by error. Wanted to blow you a kiss.
Hope you had a great birthday?

JomoGbomo2:


Good for you to appreciate where you are coming from in terms of paucity of funds and even better that you do not want to return to that state; trust me, I know what you are talking about and i will give you some suggestions or advice to hold on to.

1. Always remember that it is possible to go back to that state of lack of fund you grew up and use this thought as a motivation never to return to such.

2. PAY YOURSELF FIRST: I don't know how much you earn per month/week but whatever it is; pay yourself first. If you earn 100k /month, before anything, remove 50% and save in an investment account (start with this option: STANBIC Money market can help you here) and build up capital there for future business/investment. Now you might ask yourself can 50% of my money take me till the end of the month? my answer to that is "you never had that money before and you survived till now", trust me it will take you. This money is yours for growth alone. When I was growing like you i was saving 90% of my income until i became very comfortable. I still do ~70% till date and I earn big. I can boldly tell you I own couple of companies now in Lagos and still have over 100M cash in account for someone that started with #0 just about 10years ago.

3. Separate emotions from reality and opinions from fact; this is what people around you will use to get money from you. They will say things like if you do not help them they will die. It is a lie!!!. If you are not alive will they die? Learn to separate reality from peoples opinion or emotions especially about your money.

4. Give yourself financial yearly target and try to hit it through savings/investment/business, e.g tell yourself you want 10M in your account by end of the year and do everything to achieve it; you will be amazed how much you will get. Extend this target to your businesses and everything financial around you.

5. Get a financial mentor; someone you want to be like and try to learn from him/her. You may not have one close to you so just get someone you can get books on and read about how the person made his money and try to replicate it.

6. Start reading books on financial and money matters and how to grow them. it will really help you. start with "The Richest Man in Babylon", try and read it more than once. Then start practicing what is inside you will be amazed.

7. Never try to run a business by proxy; not at this stage, you will loose the money. Do businesses that you can be part of. As you grow you will know when to run by proxy. So if any family member tells you to give him/her money to run a business and you will get returns, do not do that.

8. Always go to financial seminars/workshop or just watch them on youtube if they are expensive for you. The idea here is to stay close to people who want same thing as you and work for it like you do. If you have to change friends to do this, never blink an eye.

I hope with this God willing you should never go back to where you came from. Enjoy the financial growth journey my friend.