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How My Mother’s Advice Made Me Rich - Family (2) - Nairaland

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Re: How My Mother’s Advice Made Me Rich by Dundalk(m): 7:40pm On Jan 01, 2021
mariahAngel:


Most of your comments are on betting threads undecided
pls modify my acc details as nothing for me,i keep expecting,but pls dont vase if am too harsh..thanks
Re: How My Mother’s Advice Made Me Rich by MMotimo: 8:34pm On Jan 01, 2021
Correct thread!

It’s not how much you make, it’s how much you save. Billionaires would have nothing if they spent all their billions.

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Re: How My Mother’s Advice Made Me Rich by XAUBulls: 12:50am On Feb 28, 2023
eazzzy1:
When I was growing up in the 90’s, my dad decided he would put his kids on a monthly allowance. This was in 1999, my allowance was 500 naira.

The first time we got the ‘alert’ was a Saturday evening, I quickly took out #50 for flexing, I headed to the aboki at the juncture to buy suya.

Now in 1999 suya price started at #10 for a sizeable portion, I bought x 5 of a sizeable portion. I went home anticipating how I would devour my suya before going to bed.

On getting home my mum asked ‘what did you buy’? I pulled the suya out of the plastic bag and she looked at me like I murdered two people. She would take me back to the aboki to question him on why he would sell #50 suya to a kid. Of course sliced suya could not be returned so we took it back home. She seized the suya, gave me the hottest abaras I ever received. I slept after crying.

The next morning she gave me the talk. Our conversation went this;

Mum: how much is your allowance?

Me: #500

Mum:How much did you spend last night?

Me: #50.

Mum: If you spend #50 every night how long will your allowance last?

Me: Ten days

Mum: If your dad spent his salary in ten days where will your allowance, pocket money and school fees come from?

Me: dumbfounded

She gave me back my now cold suya. Collected the remaining of my allowance, handed 100 naira to me for the rest of the month.

The next allowance, I took out #100 and handed #400 over to her and that would continue till I finished primary school. At my graduation my mum bought a BMX bicycle and a white trainers from my savings. I became the first child in my family to own an asset paid for from pocket.

When I got into secondary school, saving was already an habit. I remember my siblings coming to collect money for fuel and food from me, ‘we need fuel borrow us 1k daddy will refund you when he comes’. Some times my dad would owe me to the tune of 10,000 naira then refund me in lump sum.

When I finished serving, I had over #700,000 in my bank account all from savings. No income asides NYSC & PPA allawee.

Currently, I have saved about 90% of my salary since 2015, then using the lump sum for something good. When I bought my house in 2018 I had 46% in down payment, as against the customary 5%. I have never bought a car with bank financing. All these because I don’t spend on the things I don’t need.

That advice made a huge impact in my life.

Cultivate the habit of saving this new year. The flexing, the expensive vacations, hair cuts, fancy designers you pass on today will make a difference in your life in the long run.

Happy New year my peoples.

Nice anecdotes.

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