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Three Reasons Why You Are Always Broke - Investment - Nairaland

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Three Reasons Why You Are Always Broke by scotz101(m): 4:18pm On Dec 03, 2021
The 3 reasons why YOU are always broke


1. You're saving money instead of investing.

Saving money doesn't make anyone rich, in short the only people who get rich from your savings are the banks.

This is why they charge you for pulling money out and also charge you for saving with them.

The right thing to do is invest. When you have little money, invest in yourself. Take courses and programs that will boost your skills, knowledge and mental prowess.

Education never stops.

When you have a lot of money invest in opportunities as well such as cryptocurrency, stocks and bonds.

Real estate is a surefire way to go. But always start with self investment.

2.You buy liabilities instead of assets.

In Ibadan where I stay a lot of people spend money partying. It's the culture.

People spend money on clothes, shoes and different stuff that they don't really need.

To achieve a life of financial freedom some part of your money should be spent on buying assets instead of liabilities.

Assets are what will fund your dreams. Liabilities make you feel good but they do not in any way contribute to your dreams.

Make it a habit to spend more on assets.


3. You have only one source of Income

This is the biggest reason why most people are broke.

They rely on only one source of money and when that source dries up they already in deep problem.

It is said that the average millionaire has about 7 streams of income. While this isn't true for everyone,

Most millionaires will have between 3 to 5.

If you want to have financial freedom, learn to develop other sources of income.

104 Likes 15 Shares

Re: Three Reasons Why You Are Always Broke by AsapTeddy(m): 4:54pm On Dec 03, 2021
Ebook seller

23 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by scotz101(m): 8:57pm On Dec 03, 2021
AsapTeddy:
Ebook seller

Read properly

It's not for sale.

Get the FREE EBOOK that shows you how you can retire Young And Rich with affiliate marketing here

https://www.cognitoforms.com/TSBA/RetireRich

14 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by Nobody: 10:51am On Dec 04, 2021
No. 4.
Even after successfully avoiding the 3 listed there the chase for the next million makes one feel broke.

Money is like climbing a tower with no end in sight. The first day I made 10k many years ago thought i had arrived. Now i make much much more but still chase more like a dog after a b.itch on heat.

87 Likes 8 Shares

Re: Three Reasons Why You Are Always Broke by Nkitara: 10:51am On Dec 04, 2021
You made good points op

4 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by gasparpisciotta: 10:51am On Dec 04, 2021
True

Always not resisting the urge to spend!!!

4 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by Naijaguy12345(m): 10:52am On Dec 04, 2021
angry
Re: Three Reasons Why You Are Always Broke by Kento4ken: 10:52am On Dec 04, 2021
Na true
Re: Three Reasons Why You Are Always Broke by Prettylima(f): 10:52am On Dec 04, 2021
Really grin
Re: Three Reasons Why You Are Always Broke by donjosh47: 10:52am On Dec 04, 2021
Actually I am guilty of this, I hade saved more contacts than money this year.

Baba God pick my calls... I don hustle Taya, na reward I dey find

20 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by temmytee2309: 10:52am On Dec 04, 2021
Thanks, lesson learnt

2 Likes

Re: Three Reasons Why You Are Always Broke by emaseriki: 10:52am On Dec 04, 2021
Story story!!!

1 Like

Re: Three Reasons Why You Are Always Broke by adebayo201: 10:52am On Dec 04, 2021
grin grin

For this present day 9ja, people are managing to save. Now, what you've saved can't even invest. People are living from hands to mouth.

I can only agree with the last two. Aside from experience, I have seen people suffer going for liabilities and having one source of income.

Nice writeup by the way.

5 Likes

Re: Three Reasons Why You Are Always Broke by Milesbillions(m): 10:52am On Dec 04, 2021
angry grin

1 Like 1 Share

Re: Three Reasons Why You Are Always Broke by Baba2work: 10:53am On Dec 04, 2021
My favorite: Invest rather than save your money in the bank.

6 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by LINTUNE(m): 10:53am On Dec 04, 2021
wink
Re: Three Reasons Why You Are Always Broke by Nickymichy(m): 10:53am On Dec 04, 2021
True talk....

1 Like

Re: Three Reasons Why You Are Always Broke by ImoleNaija: 10:53am On Dec 04, 2021
4. You are dating or married to a Yahoo boy's sacrificial lamb.

If you don't get it, then forget.

21 Likes

Re: Three Reasons Why You Are Always Broke by Nobody: 10:54am On Dec 04, 2021
The young lions do lack and suffer Hunger
But they that seek the lord shall not want any good thing

20 Likes

Re: Three Reasons Why You Are Always Broke by Dollywood(m): 10:54am On Dec 04, 2021
I really need another source of income, I can't put my hopes on a single job. undecided

6 Likes

Re: Three Reasons Why You Are Always Broke by kennieG(m): 10:54am On Dec 04, 2021
On point

1 Like

Re: Three Reasons Why You Are Always Broke by JABAIDO(m): 10:54am On Dec 04, 2021
You have valid points, but how would someone who earns 15k lipsrsealed monthly save not to talk of investing?

29 Likes 1 Share

Re: Three Reasons Why You Are Always Broke by TimmyTen(m): 10:54am On Dec 04, 2021
Add to the list

Wrong Job

Marrying the wrong person

Sending your kids to schools you can’t afford

14 Likes

Re: Three Reasons Why You Are Always Broke by alanto: 10:55am On Dec 04, 2021
This post is for people that has money. I’m out

14 Likes

Re: Three Reasons Why You Are Always Broke by janedonez(m): 10:55am On Dec 04, 2021
Opor

1 Like 1 Share

Re: Three Reasons Why You Are Always Broke by Chatflick(m): 10:55am On Dec 04, 2021
Invest in your future. Get free forex signals from me on Telegram. Join my channel @theforexpreacher.
Re: Three Reasons Why You Are Always Broke by Dankovich1: 10:55am On Dec 04, 2021
Of all morning, na this morning you decided to let me know of this.
I'm broke ASF. Someone please come to my aid

3 Likes

Re: Three Reasons Why You Are Always Broke by MrCover: 10:56am On Dec 04, 2021
If You Don't Want To Be Broke.

Advertise Your Business, Product Or Services On . Com

To Get Started, Meet On Whatsapp Chat With 0810-373-9506
Re: Three Reasons Why You Are Always Broke by Yoighaman(m): 10:56am On Dec 04, 2021
scotz101:
The 3 reasons why YOU are always broke


1. You're saving money instead of investing.

Saving money doesn't make anyone rich, in short the only people who get rich from your savings are the banks.

This is why they charge you for pulling money out and also charge you for saving with them.

The right thing to do is invest. When you have little money, invest in yourself. Take courses and programs that will boost your skills, knowledge and mental prowess.

Education never stops.

When you have a lot of money invest in opportunities as well such as cryptocurrency, stocks and bonds.

Real estate is a surefire way to go. But always start with self investment.

2.You buy liabilities instead of assets.

In Ibadan where I stay a lot of people spend money partying. It's the culture.

People spend money on clothes, shoes and different stuff that they don't really need.

To achieve a life of financial freedom some part of your money should be spent on buying assets instead of liabilities.

Assets are what will fund your dreams. Liabilities make you feel good but they do not in any way contribute to your dreams.

Make it a habit to spend more on assets.


3. You have only one source of Income

This is the biggest reason why most people are broke.

They rely on only one source of money and when that source dries up they already in deep problem.

It is said that the average millionaire has about 7 streams of income. While this isn't true for everyone,

Most millionaires will have between 3 to 5.

If you want to have financial freedom, learn to develop other sources of income.

Nice post.

Thanks for sharing.

1 Like

Re: Three Reasons Why You Are Always Broke by Dollywood(m): 10:56am On Dec 04, 2021
JABAIDO:
You have valid points, but how would someone who earns 15k lipsrsealed monthly save not to talk of investing?

I swear, op thinks everyone earns big chequeen like him.

14 Likes

Re: Three Reasons Why You Are Always Broke by frank2zee: 10:56am On Dec 04, 2021
Very true, especially no. 3

2 Likes 1 Share

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