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Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. - Family - Nairaland

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Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by micy212: 11:40am On Nov 02, 2011
Please guys i need opinions here. Am still 21 years and an undergraduate 300 level, I have up to 1.3 million in my account which i plan to buy a car with in the month of January 2012 for my finals in school. The problem is that my Dad knows i love to spent money, and have seen my account report. Now he is kinda on my neck, that i should bring the money so the both of us could open a joint account, If we open a joint account, he is gonna be receiving alert alone and he might even make use of the money. He called me one night and told me that we are going to open the account in other for me to keep on saving, so that one day i 'll invest, then i can think of building houses or even buying cars, but i really need a car. I must be sincere the car i want to buy is Camry 2.4, 2003 model and it won't be for flexing that much undecided , but for my personal use, So i need advice on what to do, what lie do i tell my Dad, Any better opinion cos am worried and confused. Thanks for your contributions.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by wysenas(m): 4:26pm On Nov 02, 2011
Your dad luvs u and wish u well in life.d nigerian economy is not favourable at d moment 4 unnecessary spending.u are still young and an undergraduate,so relax.having a car will not add 2 yur 1.3m,maintenance of d car is another problem.listen 2 yur dad and u wont regret it.gdluck !
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by samtoye(m): 4:47pm On Nov 02, 2011
micy212:

Please guys i need opinions here. Am still 21 years and an undergraduate 300 level, I have up to 1.3 million in my account which i plan to buy a car with in the month of January 2012 for my finals in school. The problem is that my Dad knows i love to spent money, and have seen my account report. Now he is kinda on my neck, that i should bring the money so the both of us could open a joint account, If we open a joint account, he is gonna be receiving alert alone and he might even make use of the money. He called me one night and told me that we are going to open the account in other for me to keep on saving, so that one day i 'll invest, then i can think of building houses or even buying cars, but i really need a car. I must be sincere the car i want to buy is Camry 2.4, 2003 model and it won't be for flexing that much undecided , but for my personal use, So i need advice on what to do, what lie do i tell my Dad, Any better opinion cos am worried and confused. Thanks for your contributions.


He said it all, even if you not gonna open a joint account with him, truat me car is not your need now. Look for a business you can do with the money and surely after sometimes you would be contemplating a Camry 2011. be wise!

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Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by Nobody: 8:29pm On Nov 02, 2011
Dont tie your capital on depreciating liabilities aka car.

Save that money in fixed deposit, forget about it and concentrate on your studies.

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Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by 9janinja1(f): 9:40pm On Nov 02, 2011
open a savings account and keep it there if you think your pops is gonna spend your money, your in 300 level and if you went all these years without a car am sure one more year wouldnt be a hassle. save the money dude i assure you when you start investin you'll be glad you did. starve yourself now so you'll have enough to eat later
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by micy212: 10:39pm On Nov 02, 2011
Thanks to you guys. I 'll think about it,  Bet me i 'll try my best to save.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by femmy2010(m): 6:37am On Nov 03, 2011
Did anybody told you a 21 year old cant own a landed property?
Forget the car issue for now and look for realistic investment to help turn your N1.3m to N2.6m within a year.

Best of luck.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by ifyalways(f): 7:26am On Nov 03, 2011
@OP,How did you get the 1.3M btw?

@Topic,If you could discipline yourself and set aside 1.3M,I really expect you to make better choices.Go to the property section of NLD and see what wonders your mustard seed(1.3) would do.

Don't open a current account with your dad If you feel he's gonna spend your money.Tell him gently that you've invested the money or you've stashed it in a fixed deposit.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by Knight1(m): 9:07am On Nov 03, 2011
ifyalways:

@OP,How did you get the 1.3M btw?

@Topic,If you could discipline yourself and set aside 1.3M,I really expect you to make better choices.Go to the property section of NLD and see what wonders your mustard seed(1.3) would do.

Don't open a current account with your dad If you feel he's gonna spend your money.Tell him gently that you've invested the money or you've stashed it in a fixed deposit.

finally someone asks the golden question. i am also curious as to how OP got money that his parent is interested in 'managing'.
plus funny the guy is asking what lie he can tell his popman grin
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by iaabc(f): 11:13am On Nov 03, 2011
Buying the car is the first step to looking for trouble, because then you will spend so much maintaining it and the new status. Your father has been there, done, that, listen to him. Invest it properly and by the time you leave school, you may have more than enough to start your own business and buy brand new cars to boot!
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by Nobody: 12:34pm On Nov 03, 2011
ifyalways:

@OP,How did you get the 1.3M btw?

@Topic,If you could discipline yourself and set aside 1.3M,I really expect you to make better choices.Go to the property section of NLD and see what wonders your mustard seed(1.3) would do.

Don't open a current account with your dad If you feel he's gonna spend your money.Tell him gently that you've invested the money or you've stashed it in a fixed deposit.

I cant believe you are advising him to go put that money into the hands of scammers.

If you must invest in property, tell you dad to help you look for a known and trustworthy neighbour or family who is a house owner to give you genuine contacts.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by ifyalways(f): 1:08pm On Nov 03, 2011
^
When was the last time you were @ the Property section and who said everyone there is a scammer?Have people not been conducting legal,fraud free biz there?Yes and i'm a living witness.

btw,my post was to "see" and not to just throw in his money to the next Joe down the property alley.Who says he still can't be scammed when he uses his whole kindred for investigations and help?

Ahem!,what is your "OWN" suggestion or contribution
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by Nobody: 1:37pm On Nov 03, 2011
^ My suggestion?

Read well above.
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by Nobody: 3:40pm On Nov 03, 2011
mbatuku2:

I cant believe you are advising him to go put that money into the hands of scammers.

If you must invest in property, tell you dad to help you look for a known and trustworthy neighbour or family who is a house owner to give you genuine contacts.

Ify's suggestion is sound. Her reference to the Property section of Nairaland is just that - a reference. It doesn't have to be property advertised on these boards.

@ OP: You've been given good advice from members here. I would add though, if you're not comfortable opening a joint account with your dad, then by all means, don't. There's nothing wrong with you operating a fixed deposit account yourself. At 21 years old, you're an adult, and should be able to make financial decisions yourself, with help and advice from a financial adviser, or even your bank manager.

Best of luck!
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by theLINK: 3:53pm On Nov 03, 2011
fix deposits or savings account is a TOTAL waste of time, go into real estate, with that money u'l get a gud landed property in Abuja, Lagos or PH, give it 2years nd be sure the price wld almost double, REAL estate is the only business that is REAL, the prices NEVER go down no matter how bad the economy gets, which is unlike shears, stocks, bonds or fix deposits.
You hav a chance to start life on the fast track, pls use it wisely, Good luck with that
Re: Am 21 Yrs & I Hav 1.3 Million, My Dad Wants Me 2 Save The Money. Somebody Help Me. by micy212: 6:45pm On Nov 03, 2011
ifyalways:

@OP,How did you get the 1.3M btw?

@Topic,If you could discipline yourself and set aside 1.3M,I really expect you to make better choices.Go to the property section of NLD and see what wonders your mustard seed(1.3) would do.

Don't open a current account with your dad If you feel he's gonna spend your money.Tell him gently that you've invested the money or you've stashed it in a fixed deposit.

I got it from Google Adsense, when they had problem with there adverts in the month of July and it displayed on mobile, So is just my six months savings,

I 'll consider looking 4 a land, but no money to build on the land, I don't want all this alaye boys oh.

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