Growing up as a teenager I had friends and we were money minded, we share business ideas that we would start immediately we get a certain amount of money!!

When we go to places where people spend money extravagantly we always say to ourselves, mehn this is just the money we needed to kick start that business!!

Life happens and after some while everybody just enter street and start to hustle, carry out different online gigs!

Luckily money start to roll in, and in the joy of the newly founded gigs we’ve started, here we are at the same spot spending extravagantly!!

Each of us later started the business we had in mind but it was never as quick as we expected!!

A lot of people make that first time money mistake!!


The first time you get a certain amount of money you’ve never own before and boom, that business plans becomes the last why you just what to flex small!!

Poor decisions and over-calculation.

Lack of purpose

No be everybody sha especially if you understand the concept of financial intelligence.
Invest-save-then enjoy.

Money na Spirit

People with money suddenly become investors without a prior financial education.
Money makes you feel like you are capable of almost anything. People around you will suddenly turn into special advisers and come up with different business ideas that they think you should invest in. If you are not careful enough, you might end up making a financial decision that would end your pocket if not your life.

Becos it's comes by mistake

It's because of the "more will come from where that came from" idea... they think the money will just keep rolling in, but at the end e go choke..

and youthful exuberance also

My brother money can control oooo

Thinking another one will come

They lack financial discipline, Financial discipline is one of the major attributes of a rich person...

A hustling man's biggest enemy is lifestyle inflation.

Evil PHD spirit
(Pull Him Down) Spirit

oganasolomon:
The confidence is always high at that moment leading to optimistic bias

Well said...

Because they never had a plan in the first place just to shout emilokan and plunder the cookie jar

Okay

It's called excitement

OP, na me you dey follow talk? Of course I f**ked up, who never f**k up, hands in the air.

OP, if person credit you 500m now, you go jonz. No be say you no go use the funds do better thing but down the line, you will realize you had mismanaged a chunk

There is this financial discipline that comes with building your financial portfolio brick by brick.


Ten Million in the hands of someone who got it by building from 180k-700k-1,1m-2.8m-8.7m-10m is not the same in the hands of someone who has never handled 2m before only to hit 10m overnight.



This is the number one reason why most Gboys go broke after a while.... The overwhelming shock value of sudden wealth is no child's play.

It depends on the source of income. If you got it through legit investment, you will be careful and wise in spending, but if you got it through yahoo and other dubious mean, thunder will definitely fire your brain one day

When they is no plans on ground or future plan reservation (F.P.R) before hitting big.

cRobo:
Lack of purpose

Not really the case

The truth is that those you count among the people that make mistakes might be lack of luck

No matter how smart or smarter you think that you are, if luck or rather Grace is out of your reach, you will still floop in one way or the other
In simple explanation.... those that make it in life are not always the smartest

Poverty mentality...

oganasolomon:
The confidence is always high at that moment leading to optimistic bias

Your phone no