₦airaland Forum

maxti:
It has always been a crime.

Not if you are judged by common law as a christian.

JuanDeDios:
el oh el
You should read the whole of this post calmly and you will understand. Avoid debts is a sound advice but what is wrong with your position is that you put everything and everyone in a box. You assume, for instance, that everyone earns enough to save those textbook percentages you reeled out or that everyone needs those percentages. How can someone earning N50k and spending N15 on transport save three months salary? You fail to realise that those lessons were tailored to suit the middle class salary earners who constitute the staff of your company; that if the training guys are staging the same seminar for a group of millionnaires or for some poor folks who just left prison the content would be different. So you assume there is a golden rule for everyone when, in fact, there is none.

Ok, let's go to school. Imagine you are a fresh graduate earning N100k in Lagos. Luckily you found a room to put up at your brother's place. Now, you have to leave because your brother wants to get married. But you have not been working for a long time and have not saved enough to rent a house. If you have no where else to put up, will you borrow to complete what you have, since you can conveniently pay back, or live on the streets? In this case, borrowing is not being smart, it is simply inevitable. You don't decide to do it, you just do it, golden rules or not.

Apart from inevitability, borrowing is also sometimes the smart thing to do - but you better know what what you're doing. Imagine you're a graduate but you're unable to get a good job. Suddenly a friend tells you about a small business opportunity that looks promising. You need some money to start up but don't have it. Borrowing might be the smart thing to do here. I personally know people who did this and have become successful. Or you may be a billionaire businessman who wants to invest in a new area - like refining petrol in Nigeria. Getting a bank loan here is a smart thing to do.

What is wrong is to go pick up the latest Toyota Camry just because you just got a well paying job without planning first. Or send your wife on an expensive vacation without budgeting and planning for it long term. Salary earners often buy things in advance of their salary. Then it piles up and they carry it over to the next pay day. Soon things go out of hand. That is what killed your colleague.

Now, let's examine your statement. "Never ever borrow money." "Never ever" makes this an absolute statement, good for everybody in every situation. That is misguided. It is good as a piece of advice for a middle-class salary earner in most situations - the last thing you need is a debt. As a general rule, it is not practical, because, as we have established, borrowing is sometimes necessary. So I would modify the statement to read something like "Avoid borrowing money."

Nice essay. Isn't it convenient to pick nice examples to suit your argument? I would also argue that the guy looking for a place to rent could also find alternatives rather than borrow. There are boys quarters you could get for that amount if you really look hard enough. And borrowing to invest is just ridiculous. What you do is look for business partners to share the risk not lending partners. Bill gates and the likes never went borrowing. They went to look for investors. No one ever said being financially responsible was/is easy, but it's what separate's successful people from the rest. Never ever spend what you cannot afford. You are not going to die if you don't.

osaslord500:
Before na slipers dem go reward eaglets with?




Give them cash jare, dey are balling hard!!

Yes. Those over aged players should be rewarded.

JuanDeDios:
No, it's not. That isn't my recommendation, but you continue to miss the point.

JuanDeDios:
"Never ever borrow money" is not a practical recommendation.

I'm confused. Isn't the above from you?

JuanDeDios:
I understand you better now - it's actually what I suspected. I will tell you something; I don't know if you will get it but I will say it. "Never ever borrow money" is a sound advice, one I will dish out to a middle class salary earner like you. But there are other categories of people out there and there are a whole lot of permutations to life. Sometimes borrowing is inevitable. Sometimes it's even the smart thing to do. But how would you know all that? So you think there is a formula to life and will have everyone in a box. You will even accuse anyone of a seemingly contrary view of having a weak constitution. You may yet learn that different things do work. That something else, mentioned in op, and not necessarily borrowing, was what did in your colleague. You may learn.

There are some rules in life that are golden rules. It is up to you to choose to follow them or not. Don't drink and drive is one, but do people listen? No. Don't borrow money and live within your means, but will people listen? apparently not. How is borrowing money a smart thing to do when you would have to pay it back from the same income? The logic escapes me.

JuanDeDios:
You're hugely into them seminars and self-help books, I see. It's good. As you sojourn and see more real life you will recall my post - "Never ever borrow money" is not a practical advice.

Seminars? ok. My organization spends a lot of money on financial counseling. In the beginning i never saw a need to use their services which was free until one of our employees committed suicide because debt had ruined his life. This was a guy who was always smiling and jovial, but little did we know that he was dying inside. He had over 100k in credit card debt and a broken marriage. Anyway, during the one on one consultation with the financial counselor, he showed me how he contributed 500 dollars a month into a ROTH, with an annual return or 9 percent for 20 years, withdrawable after 30 years. He was a millionaire at age 50. How was he able to do that? By living within his means, having a budget and not borrowing for whatever reason. People with a weak constitution will always wanna justify reasons for their weakness. The information is out there. Go get it. Ten years into following his guidance and financial plan i have no regrets. I would advise you to change your mentality. Especially when you are young because the older you get, the higher the amount you have to contribute monthly to achieve the same results.

firstEVA:
With the appointment of Babatunde Fashola as Minister for Power, Works and Housing, it is very clear that the president has so much confidence in Fashola, I am tempted to conclude that if not for the negative response which would have greeted a muslim/muslim ticket for presidency, Buhari would have picked Fashola as running mate. This is his own smart way of making Fashola his second in command. Osibanjo is just there like a piece of ornament.

Second in Command? A minister. What does that even mean? Instead of Nigerians to be vigilant and watchful, they are here praising appointments. They are more interested in the glare of the position than the outcome. The Nigerian mentality at it's finest.

JuanDeDios:
Because there are genuine or smart reasons to borrow sometimes.

Keep telling yourself that to make you feel better, but there is not one good reason to borrow money. It's all about your mentality and the foundation you set for yourself from the onset. If a person is thrifty and frugal, you will not have problems in the future. If American's who invented the art of borrowing can finally see the light and are slowly creeping away from the debt cycle, then others should not have any excuse. The rule of thumb is at a minimum, one should have 6 months salary saved up for emergencies which must never be touched until one has an emergency, 20 percent for investment/retirement and another 20 percent on savings. People are generally impatient and want to live like ballers from day one. Those who go borrowing, go sorrowing at the end of the day. Live within your means.

JuanDeDios:
"Never ever borrow money" is not a practical recommendation.

And why is it not?

Datevilme:
It is a known fact that a substantial percentage of Nigerian Graduates are Unemployed, and from the few that do have jobs, many of them are underemployed and payed stipends that barely see them through to the end of the month. Here are 10 ways you can maximize your low income.

1. Cut your cloth according to your material. Acknowledge the fact that you earn a low income, don't spend above your means. Minimize your spending as much as possible. Bare in mind that your current status is only for a while, you will blow eventually.

2. Try as much as possible to ensure you do not spend too much on transportation. Transportation as we all know takes up a great chunk of ones earnings most of the time. If possible find someone who owns a car and plies your office route, and tag along with them. You have to be jovial, and make them like you, so that you wont be a burden, but rather good company.

3. If you are ever going to break out of your tight financial situation, and not be the type of person who lives from hand to mouth, you need to develop a culture of saving, yes! you need to save. No matter how little, you can make up your mind to save between 10 and 20 percent of your earnings. In the event that you lose your job, or an emergency comes up, you will have something to fall back on.

4. Pay your Tithe and Give cheerfully. The saying "Givers Never Lack" is one of the most accurate sayings ever. Try it and you will be surprised, it works like magic!

5. Dedicate a Fraction of your stipends to self development. Your chances of getting a better paying job will definitely increase if you have more skills, certifications, etc.

6. Check your Relationships!! Guys, is your girlfriend milking you dry? Girls, is your boyfriend feeding of you continously? The hard truth is that if you are going to move ahead, you need to cut off those that are constantly pulling you back. If they truly cared about you, they wont keep demanding, knowing fully well you don't earn that much.

7. Feel free to add up...

Funny post. There are only two ways to make the best of your income. Never ever borrow money and always have a budget. Simple.

LoveMachine:
Wailers are on hush?

dason4life:
Wailers, let's have a good time again.
Honestly, every news on PMB isn't complete without you.

Mygermanfriend: What is wailing?

Me: What do you mean? Leave me alone, i'm trying to sleep.

Mygermanfriend: Seriously, what is wailing? I just saw the term being used on that Nairaland site.

Me: Oh God, I told you not to take anything you see there seriously.

Mygermanfriend: But what is it?

Me: "sigh". . . .To a Nairalander it is a term used to ridicule an opposing view.

Mygermanfriend: I don't understand. An opposing view, good or bad, is a good thing. It is the bedrock of any democracy.

Me: You think i don't know that? You try telling them that?

Mygermanfriend: Strange.

Me: What they don't understand is the real damage of using terms like that. Their ability to debate issues logically and with common sense becomes limited because they can't, and because they can't they term any view other than theirs as "wailing".

Mygermanfriend: Daammmnnn, these people really have issues.

Me: I told you their brains were wired differently from everyone else on the planet.

Mygermanfriend: Hmmmmm.

aim5:
I'm dead serious. They aren't as bad as people paint them to be.

So I'm not the first to have that opinion. Dem no tell me twice before I married a Yoruba woman.

9jaboi8701:
Abeg help me complete am cause the names dem too many, I know you are referring to Atiku, Babangida and co

Buhari, Idiagbon, Shagari, etc.

alfred5:
Amechi is not a super Minister.

Super Ministers, are, Fashola.

Ngige(labour and employment.


Then,trade andinvestment.

Mygermanfriend: What is a super minister?

Me: What do you mean a super minister? Is that a new super hero in the new Avengers movie coming out?

Mygermanfriend: No. I just saw it on one of the threads on your Nairaland.

Me: Oh, Lol. Apparently, that is the adjective they are giving some ministers in the new cabinet in Nigeria.

Mygermanfriend: I still don't get it. All ministerial responsibilities are super important and linked to one another. It all depends on the individual minister's ability to handle and improve on the ministry. You need all ministries working in utmost capacity to kickstart a great nation. So, in effect, there are no super nor ordinary ministers.

Me: Remember what i told you about the Nigerian mentality? It is very strange. It is as if a Nigerian's brain is wired differently from the rest of the world. When i was telling you how phucked up my country of birth was, you thought i was embellishing my tales. I hope you can see for yourself.

Mygermanfriend: I am beginning to understand what you have been trying to tell me. But how can a people think like this?

Me: Hey, that's how they roll in Nigeria.

When i arrive the U.S next month and i post it here, it better hit the front page.

9jaboi8701:
That's how a true ball. Well done PMB. The thunder wey go strike[b]GEJ[/b], others like OBJ, Abdusallam i or what ever the E-diot name is and PDP for leading this nation into this terrible state is a combine thunder coming from Zeus, Odin and Amadioha.

Aren't you missing a few names?

Jobless people. How are these useless information facts?

Demmocrats:
OMG!!!

Op where did you get such picture, this kind of pics are classified.

Either you are in the army or you have a relation in the army that gave you the pics.


Please if its your relation among the soldiers fighting Boko Haram, next time you see him by Gods grace please give him a big hug tell him its from me that we are grateful for all they are doing.

There is nothing classified about dismantling a bomb. What is classified is showing the faces of the people doing it. Worse is putting those faces on social media.

aim5:
Why? They are actually the most decent set of women in this world.

Lol. . . you are funny.

FKBZ:
:- we are not st.upid ooooo,we would soon take it P Mr bolli

So, telling the new minister to not use a power generating unit for a month will solve the power problem in Nigeria. Ok.

FKBZ:
Its not your country anymore,would reminder u of this statement when sai buhari,put this country back on track......u hear
That time u be begging for visa and when u get to our embassy we would not only not grant it to u ,but continue our jollof rice and orijin business there

Good luck. There is no way in hell anything can change in Nigeria till all of you change your mentality. That is the first step to any kind of change. If you bring everyone in America to Nigeria and transport everyone in Nigeria to America, Nigerians in America will be applying for visa to come back to Nigeria after destroying America. That is how phucked up the mentality in Nigeria is.

viviangist4:
In the Morning i shared this post about Dj Cuppy's Birthday.


And Now this is the Birthday cake.


https://www.instagram.com/p/983bjRrSt1/?taken-by=cuppymusic

You sure she's 23? she looks 33 years old.

ernesty20:
shut up ur dirty mouth..

As the minister of power, he ought to fix our electricity asap

Mygermanfriend: What is he talking about.

Me: He want's the minister of power to stop using his power generating unit for a month so that he can fix the nations power problem.

Mygermanfriend: That's dumb. How does that accelerate solving the nations power problems?

Me: I told you i love watching st.upid people operate.

CaroLyner:
looks like he's about to burst

The guy looks horrible but people don't really care about that. All they the see is the appearance of wealth.

JAZES:
Trust me if u have ever boarded any uber before u will never want to use
all this 3rd taxi in lagos again. Its a welcome idea and i trust it will work in Naija

You do realize we are talking about Nigeria right?

laurel03:
e dey pain u o ga ga e dey pain u well well ga ga... Tell ur german friend dt ur past hero (Ojukwu)started the tribal war...

Mygermanfriend: Who is Ojukwu?

Me: An Igbo warlord who was part of those who instigated the Nigerian civil war.

Mygermanfriend: But from what i can tell, you are not igbo nor is this Ojukwu amongst your heroes.

Me: I told you i love watching s.tupid people operate.

Mygermanfriend: I see what you mean. Let's keep watching.

Tolatutu:
Yorubas got the best portfolios

modath:
Omo yoruba lawa ooo... swagger!!

laurel03:
#teamyoruba
#teamyoruba....
Fashola-power
Kemi-finance
Bayo-communication
Adewole-health
Fayemi-solid mineral
Lai-information
Daramola-Niger Delta (state)

ACHIEVERBA:
Na we dey intelligent pass for this country.....btw quote me anywhere

Mygermanfriend: What is "yoruba?"

Me: Lol, It is one of the major tribes in Nigeria.

Mygermanfriend: So basically they are Nigerians.

Me: Yes. Why do you ask?

Mygermanfriend: I thought by the way the posters above us were jubilating, "Yoruba" was a country and they've just announced the ministers for the "Yoruba" country.

Me: Nope. Those posters are just s.tupid. They don't realize that whatever the tribe they come from, they are all in the same boat and have to sink or swim together.

Mygermanfriend: Sounds like there's a lot of distrust and tribalism in your country.

Me: Correction, it is not my country anymore.

Mygermanfriend: Then what are you doing commenting on their issues.

Me: I just love watching s.tupid people operate.

Mygermanfriend: Lol.

Eddygourdo:
Wrong portfolio, a lawyer in works and power? haba

That is your argument? Really? you forget the lawyer was once a governor too.

helica:
why?

Let's just say, i know them too well.

sandraokosun1:
my ESAN aunty REPRESENTING.

Wouldn't touch an ishan woman with a 10 ft pole.

Datbohoochick:
Started from the womb, now they are here!
The identical twin daughters of former governor of Imo State, Ohakim, look excited as they show off their growing baby bumps. Both girls are married to the love of their lives, and it looks like they took in at the same.

http://www.amkkay.com/2015/11/twin-sisters-adanna-and-adamma-ohakim.html

Even when pregnant, women still pose like cripples.

lmm4real:
Ok while at it, please remember our 5k too. Agreement na Agreement.

Mygermanfriend: What does that mean?

Me: The president made a campaign promise to pay 5k to unemployed Nigerians.

Mygermanfriend: That's very good. So when will that begin?

Me: Good question. You see, we don't have an accurate database of who will benefit from it. There is also no way to sustain it indefinitely.

Mygermanfriend: Are you serious? But you can adjust your taxes to pay for it and use SS to track who gets it now. That's how we do it in Europe.

Me: Nigeria does not have a SS style programme nor a viable tax system. Worse is Nigerians don't believe in Taxation.

Mygermanfriend: Then how is the above poster expecting it to work then?

Me: His stomach is dictating his thought process instead of common sense.

Mygermanfriend: Didn't the president explain how he was going to fund the programme before being elected?

Me: He didn't. And they didn't ask. And they didn't ask. And they didn't ask. And they didn't ask. And they didn't ask.

Mygermanfriend: Lol, And they still voted for him? Unbelievable.

Me: That's how they roll in Nigeria.