₦airaland Forum

Tonex: Acidtalk, I agree with almost everything, but I disagree on the online banking thing. If you have discipline, I don't see why you can't still save and use online banking. It saves a lot of hassle and the money you spend going to a physical bank can also be saved. Nice post nonetheless especially for the younger generation

What about people like us who don't have discipline and also easily pity people who come for one favor or the other? Can you see the reason why it can't work for all of us?

Ido inhouse bank to bank transfer or issue you a cheque or cash my money over the counter. Archiac it might sound right? But it has helped me immensly to monitor and manage my expenses.

I have come up with a LASTING solution to Boko Haram about 3 years ago. But I am yet to get the authentic e.mail addresses of the National Security Advicer, Deffence Minister and the President.

Believe me mr president, my advice are always one in town and practicable but are you genuine in wanting to fight Boko Haram if you are, send me those 3 e.mail addresses so I can send them to.

But head go roll oh! Mr Jonatha, you get the mind? Even your sponsors and allies go dey affected oh!

Twenty5: pls sir,you have not answered my question correctly,i asked if it is possible to have just one account for multi-purpose plan for future provided you are discipline?

I still insist you have THREE seperate bank account in 3 different banks and if at all you are to have, have ONLY ONE ATM card. Having all your money tucked up in one account is totally not adviceable. Discipline or no discipline, have at least 3 seperate accounts.

You know an average Nigerian want to appear more successful than they originally are and then go home and weep over expences they spent outside while creating a wrong impression and personality about themselves.

Till date, when I go buy fuel in a jerican at the gas station, I insist I am not paying that extra amount those attendant tend to want to collect. It doesn't mean I am too poor not to give them my N50 but every penny I spend should be worth it.

ewons_1: thank d lord for dis post...its bn on my mind a long time but its high time i rlly get serious wt it...thanks again....

Please do. Don't just read it today and forget to implement it by tomorrow.

andyzoga: Though, we've shared different views on national issues but I must say this is the most intelligent post I've ever read on this forum. Thumbs up for u,acidtalk.

My dear brother, life is made up of opposing views. If we all think the same way all the time we won't all think deep to come up with sounding intellects. Hope you never take all my views too seriously and harsh oh? Me I just come to nairaland to have fun and help people the little way I can. So please don't hate me for my opposing views to yours.

Twenty5: Thank yoi sir.i posted the thread you saw about maintaining my saving habit,am blessed with your indelible ideas shared on it and i think i now know where am making mistake.But is it not possible to have one account instead of three and applied discipline?

Oh! Its great to know you are the one that inspired me to come up with this piece and I am glad you found it useful.

Please! Please!! And Please!!! Avoid fake friends and impulse spending. This world is only made of people who will only shower your praises when the good is going for you but as soon as things turn a little bit bad/slow, they will all desert you and talk ill of you.

hohafrank: acidtalk, God bless you for this write up.I was a victim of being used by friends and relatives, in-laws inclusive.I made million of money yet i spent all on people until I lost my job and abandoned by all.I must surely put them into use.

I quite understand your plight. I stopped keeping friends (of benefit) about 8years ago after I learned the hard way.

I keep only business associate and extremely few friends (of high intellect). If you only get intouch with me when you need a favor, I totally cut you off.

The unfortunate thing is people are too scared of being alone and lonely therefore making them spend on people thinking they can win them over and always have company around.

Omokaro2acca: The interest rate of savings a/c in Nigeria is not encouraging saving culture at all. I save 200K. And wen I saw what is coming from that a/c. I grew angry and spent the money carelessly.
We should rather invest than save money.

Savings account is neither a money dubbling platform nor a lottery scheme. Savings accounts are meant to help you form the HABIT of saving.

The inteest are just as a form of them compensating you after the bank uses your money to trade.

So does it mean if you start a business for two years and you haven't yet broken even you will sell the entire business asset and then squander the Capital?

That was a very terrible decision you made there. I will advice you to form the habit of saving once again and rather than concentrate on the interest the bank gives you, rather have a vision on what to invest your savings on to make you financially free in the nearest future.

A friend of mine called me yesterday and crying and lamenting how herself and colleague went to withdraw N750,000 for their boss and event after watching them count the money over the counter, on getting to the office they discovered about N4,600 was missing from that money, their boss threatened to fire them if they don't confess but both ladies are more than certain the money missed while the banker was pretending to assist in helping them put the money in a nylon bag.

mollytinrox: Thanks a lot, acid.

This topic did justice to my nights of sleeplessness over how to save for what and when. And how come I never thought about teaching my son how to save?

In short, take a hug!

Support the hug with a bottle of shepe joh! Make men high this morning.

As per your son, it is better late than never. My dad was a spend trift and free giver but later on in life, I learned quite a lot from him on money management and he learned from me too.

vivacious vivi: Thanks so much. Learnt a lot from this.
However, I learnt very recently from Yahoo News that having multiple bank accounts make u spend more. So there is a paradox somewhere!

That's if you have multiple bank accounts with multiple atm cards and credit cards.

Please go bank and read my instructions of owning 3 bank accounts and what each represent.

I have at 7 naira accounts (Savings,Current, and Corporate) and 3 dormiciliary account but let me tell you what will surprise you. I DON'T HAVE AN ATM CARD and HAVE NEVER DONE INTERNET BANKING.

When I still used atm cards like 4years ago, at times I discovered I was spending up to N40,000 a week on things I couldn't even account for. Now any money I don't have in my wallet or bed drawer then I am sorry I can't dish out. Immediately I have cash in hand, I am never at rest until I take the little I need and go dump the rest in the bank.

Shifiunited: Imagine this forum is full of educative thread like this, not......

Please if you are looking for very Educative threads spanning all facet of life I will advice you go through my previous threads, I promise you, you will not regret it but only return to thank me.

* Never pay for things you don't make use of : Why pay a Dstv premium bouquet of over N10,000 every month just to watch football match only 4 times a month (weekends) and you are out of the house for the most part of the month. That's utmost WASTE. You just only pay for things you really need and of importance. If you can survive without TV then it makes no sense paying such.

* Always Price! Price!! And Price!!! : no matter the highbrow mall, market or shop always for the habit of pricing. Never be too shy or ashamed to ask for a discount even when there is a price tag already attached to an item.

I once entered a shop in cedi mall Accra and a wrist watch with a price tag of equivalent of $700 I ended up paying $430 after speaking with the manager. Isn't that a good deal?

Price tag are only put to make maximum profit after the timid and shy one wouldn't want to negotiate.

When you enter an eatery and you notice the portion of food they dished for you isn't equivalent to how much you are paying, don't be shy to ask the attendant to add to the portion of food. It doesn't make you look hungry or local, it just makes you appear to know what you are what and the value of your money.

Every_LadY: @acidtalk,hope to get a workability and practical approach to this. She earns 35K monthly.considering transport/feeding and other women's monthly stuff. How practical is it for her to save? Note:she is squatting but feeding herself.

Let her save at least N5,000 every single month. At the end of the year she will confidently have N60,000 stuck up somewhere as savings. It looks quite small yes but could do a whole lot incase of unforseen circumstances and emergency.

Note, the earlier she starts to save the better considering the fact that she is squatting qith someone. If the person(s) she is squatting qith aren't her parents then there's a extremely high possibility of them throwing her out of their house one day.


Most businesses in Nigeria her setup from savings as banks, relatives and family members are not likely to lend someone money to startup. So if she is looking at starting up a business, the earlier she starts saving as little as N5,000/month the better for her.

bigtt76: Probably doing it to hurt you as well as let you know its wrong picking his phone without his consent ...more like letting you what you want to see. I guess you should sit him down and talk over it. Make him know you are in no way jealous or angry over his cheating on you. If you like his kind of phone, get yourself one. If you like picking calls, get your friends calling you so you pick as many as you may want. On a lighter note, You can also look into working on a Customer Support desk of MTN ....you will pick as many calls as you ever dream off

This is the MOST STUPID advice I have read this year.

Are you insane or just trying to be funny? Coming from a supposed woman I am shocked! Well maybe you are either a lesbian and don't know the importance of a man and real love in a woman's life or you are a perpetual cheat.


Poster, I will give you the most blunt and honest reply I can think of.

First of all I will go against my Rule number 1 in relationship which is "Never involve a 3rd party into your affairs either in good or bad times".

But in this particular scenario, I will tell you to first of all sit him down and find out if he thinks openly cheating on you whenever you check his phone makes him feel better. Let him know cheating in a marriage (or relationship) is totally not acceptable and is is really hurting you but him goind the extra mile to openly cheat on you is like him stabbing you in the heart.

If he doesn't change, involve his parents, siblings and close friends and make sure you provide them with evidence (I.e text messages he sent out).


If after 3 months he hasn't change then sit him down once more and let him know the NEXT TIME HE TRIES SUCH WITH YOU AGAIN YOU WILL ALSO CHEAT ON HIM WITHOUT FEELING REMORSE.

This is your life and health we are talking about. Is it until he gives you STD before you will know marriage isn't by force?

Why are some women so desperate in getting married and staying in an abusive marriage?

* Never be too scared to say NO : so many people today are bankrupt because they always said yes when they should have said NO when people come to meet them for favours. There's a very big difference between a nice man and a stupid man. If what you are giving out is within your budget and to do list then it is fine. But a situation where you have to deep your hands into your long term savings just to help a friend pay his child's school fees or a cousin pay for his house rent is totally not acceptable. Statistics has proven that most people have at least 3 other options of people they can meet in terms of need, therefore, if you can't help them at that very moment, they are most likely going to get helped by one other person.

Most people protect and save their money jealously and religiously but go to other people to help them out on some certain expenses.

Take an example of a friend accomodating and feeding another friend for 2 good years. The squatter made his friend believe he didn't have money to rent an apartment and occasionally collected transport fare from his friend to go to work.

Along the line, this two friends started having misunderstanding. The squatter only told his friend 2days to his final stay at his friend's place that he has gotten a place on the island (a two bedroom partment at Argungi in lekki area of lagos). Bearing in mind his friend who accomodated him was staying in a room and bedroom self contained in Sabo Yaba. The apartment was tastefully furnished within 2 weeks and to make matter worse, the squatter launched his Apartment with a Honda Accord( baby boy). When his friend who accomodated him had not even gotten a car wiper or tyre not to talk of buying a car.

* Never Buy things because they are in vogue : There's always a newer version of every phone, tablet, Laptop, car, wristwatch, hand bag, jewellery you buy. If you have a blackberry bold 4 that is working perfectly, why want to buy a Bold 5, 6, touch 1,2 and 3 Z10 and iphone 5 just to prove to people you are a big boy or girl.

Don't forget those people producing these things keep producing the same thing (with extremely few changes) just to remain in business, pay staff and make profit. Using a phone for a whole year or more doesn't make you less of a successful person.

Have you noticed that most employees use phones far more expensive than their employers? Does is now prove they are more successful than their employers? The answer is NO!

Most people acquire things thinking they can get respect and honor from it whereas a successful person let's his/her her bank statement, investment and connection speak for them.

* Never always be the one to foot the bills when you go outing with friends : I learned this a very long time ago. When you go out socializing with friends never be the one to always foot the bill. It is always better to have an agreement with everyone that each person should pay for whatever they ordered. It doesn't make you stingy or callous, it only means you are financially intelligent. You will be amazed to discover that so many people never get to eat or drink as much or expensive when they are being for it by themselves. A guy who averagely drinks 5 FREE bottles of beer will only order for one and sip on it for over 2 hours when he knows he is the one to pay for his drink.

* Avoid Friends and Family Who always make you spend : If you have friends who always encourage you to eat out rather that preparing home made meals, to go to the cinemas, malls, events / shows e.t.c. This are the type of people you should urgently avoid.
When your friends want you to attend all the Musical and comedy shows, film premiers, cultural and sporting events, this are thing that unknown to you wipe out money from your pockets than you can imagine.

Imagine going to at least 3 shows in a month which the cheapest ticket you bought per show is N5,000. That's approximately N15,000. Yes it looks small but have you ever sat to imagine those long lasting things N15,000 could get you? It could get you company shares, few bags of cement and blocks, microwave oven, vacum cleaner, deep fryer, so many beneficial and life changing books to mention a few.

* Before you spend on anything always ask yourself "if this item is really need and if yes, how will it change my life" : just like so many arguments we get into, so many spendings we make are absolutely not necessary, if you can't get excited for an item you paid for after 3months then that items isn't (wasn't) really needed in the first place.

When I saw a thread yesterday of a young man who is very uncomfortable because he isn't saving as much as he really desires.

I have gone through that road before. I read All the books you can think of on Money, Finance Management, Business, Entrepreneurship, Investment, Network Marketing and Savings. Inshort currently I have over 1,300 books of such books in my private library but the truth still remains that there are way more little (nitty gritty) things one must put up as a new attitude in order to break through the habit of not being able to save.

Below are some very most important things (steps) you need to take to see a considerable change.

First and foremost, I want to first bring your attention to the fact that MOST people still don't know the difference between NEEDS and WANTS.

Needs : this are those essential things they you most likely can't do without I.e, transport fare, Feeding, House rent, Certification or Professional courses, Utility bills (PHCN, Water, Recharge card, Internet).

Wants : this are things that we get to help us feel better in our social life. Sometimes we think we can't do without them or they are very important but as soon as they are paid for, we realize that we could have used the money to pay for more essential things. Examples of wants are 'excess' clothes or fashion accessories, communication gadgets (Phones, tablets, ipod, itouch, camera), eating outs (eatries, pizza/shawama joints, suya spots),excessive clubbing, Satallite TV subscription e.t.c.

Below are immediate steps to take to curb excess spending :


* Have at least THREE bank accounts in different banks. If at all you want to have an ATM card have it for ONLY one of the accounts. One account should be for very long term expences I.e, house building projects, towards starting a business, planning for your wedding,retirement plan.

The 2nd account should be for average long term projects I.e House rent (once a year), buying a car, Going for pilgrimage, vacation.

The 3rd account should be for your monthly expenses I.e, transportation, recharge card, internet, Cable TV, clothes, fueling of car/generator, feeding, and alms giving (charity, tithe, allowance to parents, siblings and relatives).

NOTE : you should only have an atm card for this 3rd account and no other account.


* Have A Budget : everything in life is all about planning, there's an adage that says "he who fails to plan, plans to fail". Budget and budgeting is an Extremely important part of planning to have a profitable business, happy marriage, successful career and every other facet of life.

Ensure you have a budget for every single day, week, month and even year. To be very honest, keeping budget is a very difficult task but with discipline and determination, it is very possible and worthwhile.

You MUST STOP Impulse spending as that is the only barrier between a rich man and an average man.

A rich and successful man will NEVER enter a shop/market/mall to pay for what wasn't initially on is to buy list no matter how fine or attractive the item is, unless he thinks he is getting it far cheaper than the usual price.



* Have more friends who are more Business inclined than Social inclined : if. I tell you today that this is the MAIN reason why some people will most likely never have a breakthrough in life.

"Show me your friends and......" Also "Birds of a feather......".

As funny or strange as it may sound, you will NEVER find the likes of Dangote, Jimoh Ibrahim, Jim Ovia, Tony Elemelu, Otedola and others going to a social gathering or event without the intention of coming out from that event being more successful. They always and only go to events to Network (expand their business horizon), track than someone of great relevance to them (I.e, a top Custom Boss, CBN director, Governor, Minister and the rest). If They weigh their option and see such invent will not benefit their business and financial status, trust me, even if Queen of England or Obama will be present they will not step foot there.

So many of us today gather friends (majority of whom are not useful) just as a symbol to prove how social and friendly we are. Some people have been going to Viweing centre every single saturday for the past 10years to argue about EPL matches and all through thos years they have NEVER benefited one single positive thing be it contract, admission, business or finance from the people they meet there and yet they still claim they can't do without going to viewing centers to watch match. The people you have been going to scream your voice out are getting paid and become richer whereas the same can't be said about you.

You, your president, Okupe, Reuben Abati, Reno Omokri and others are all mad.

Instead of fishing out the sponsors of Boko Haram amongst yourselves and Party you are there blaming an innocent man.

One question, Why una KILL andrew Azazi? Yes you know the answer. Because he was about to expose you all.

Poster why aren't you honest enough to let people know this Is a Chinese Tablett?

Yes we know all phones, laptops and tablets are assembled in China, but help people who know little or nothinv about technology to know that these your goods have no name or guaranty as they are products manufactured and shipped to Africa without a manufactures company attached.

There should be a very stiff penalty for lodnapping and kidnappers I.e life inprisonment.

But the unfortunate thing is that both the legiaslative, judicial and executive arm of government are just a big joke.

Really some employers can be very callous. They don't believe in tips, bonuses and dashing of monetry and material gifts to their workers.

I know a whole lot of workers (people) will always take you for granted when you are nice to them (like I am currently facing from some staff of mine).

But just do your part for humanity sake and let God bless you.

Maybe the woman whose ransome payment wasn't successful was one who was nice to her driver...nobody know.

Person wey get money like her wey no fine na him be say either the papa or mama na confirm bush monkey.

Abi you no know the power of money?

Obj na my padi, but you no notice small changes when he be president from when dey just release am from prison after Abacha die.

Abeg go sleep joh! Abi na Oba send you here to come mount him thread at this time of the night? You be Spirit abi you be wizard?

If you see me pass by, holla at you boy.

When you see passing by, just say Hi! Hi!! Hi!!!

If you see me pass by, holla at you boy.

When you see passing by, just say Hi! Hi!! Hi!!!

If you see me pass by, holla at you boy.

When you see passing by, just say Hi! Hi!! Hi!!!

This should be the likes of thread to be sent to the frontpage instead of those nonesense up there.