₦airaland Forum

Thanks 4 nice ideas Sir, does it means I ve to open different account for each principles- WIRES?

This is the best thread, I've ever read on NL. I'll start practising this soon.

God bless you YoungExec for creating this thread!

This thread is just wow.

We are suppose to know these methods by default.

Just stumbled on this thread, and I like wat I saw.
@op how can someone dat earns below 250000, let's say like a 100000 key into the wires principle. Tanx.

Drksly:
Just stumbled on this thread, and I like wat I saw.
@op how can someone dat earns below 250000, let's say like a 100000 key into the wires principle. Tanx.

The principle is just a guide, u can determine the percentage to allocate yo each item. I av tried a modified version of this principle and it paid off. now I dnt buy things by impulse

@ YoungExec
My God will bless you!
My God will Keep You!
My God will provide all your needs!

I read and began following this thread last year. At first I thought it was one of those motivational crap written by people who lack experience. But the more you wrote, the more it made sense. I started implementing a slightly modified version and this is my testimony.

@OP, it was hell at first. My wife didn't understand it. It nearly cost me my marriage as I insisted we drastically cut down and only make expenses from relevant accounts. All hell broke loose. I was reported to all and sundry as a stingy husband but I put my foot down.
Gradually, everyone around me began to adjust to the reality that once I say 'There is no money' then that is the end of it.

It gradually began to get better, less painful. As I write this, tears of joy are running down my face because you literally saved my life. I lost my job in January this year. My friends heard it, my relatives heard it. Everyone was waiting for me, expecting me to start going cap in hand. They waited and waited but I never did, my family never lacked, despite this very harsh economy. I survived.

I did not lose my dignity as a husband, father and first son.
Though I was unemployed, I had the stability to search without pressure and at the end of May, the Lord showed himself faithful by giving me a bigger, better job.

Sir,
I wish I knew you in person, I would come and lay prostrate in appreciation to you. Everyone around me is shocked that I stayed so long without a job but still shining all through.
I repeat Sir, my God will bless you, His favor will never leave you. For hearing His voice to share this with people, My God will never abandon you.

Finally, to Seun and moderators. This thread saved a life, my life. You must never allow such threads to stay hidden. I bless the day I read this.

Nice one.

This thread is awesome.

What a thread!!! Exactly what I need at this critical stage of my life. God bless you YoungExec.
With the knowledge from this thread and with the wisdom gained from reading The Richest Man in Babylon, I dare to say that nothing will stop me from managing my income which God just recently multiplied beyond my expectations. Awesome
This thread deserves front page by every stretch of imagination.
cc:lalasticlala, mynd44

bxcode:
What a thread!!! Exactly what I need at this critical stage of my life. God bless you YoungExec.
With the knowledge from this thread and with the wisdom gained from reading The Richest Man in Babylon, I dare to say that nothing will stop me from managing my income which God just recently multiplied beyond my expectations. Awesome
This thread deserves front page by every stretch of imagination.
cc:lalasticlala, mynd44

it shld not ooo. nothing goes to FP n comes back alive. some ppl dere are just out to criticise without sense.

this thread has seriously re wired my thinking. please from which qudrant should wedding money come? Anyone with answer?

Princenady:
this thread has seriously re wired my thinking. please from which qudrant should wedding money come? Anyone with answer?

Reward?

YoungExec:
- securing the land is advisable, factor that into your plans. Now that the Nigerian Economy is in dire straits, a lot of people are selling their Real Estate to shore up their liquidity. For instance, I just secure a property late last year at half the value because the seller was in a fix. Hence, it will be great if you secure the land and then plan on building at a later date.

Goodluck!!

Hello

How were you able to ensure that the quality of work done especially with the electricals and plumbing wasn't sub-standard?

Dear YoungExec, like many others on Nairaland who have been fortunate to draw from this well of financial wisdom you unleashed. I remain eternally grateful. You have rewired my thinking.

I have in the last one year run a business entrusted into my hands. I grew it from scratch. Today, it's self sustaining. This feat motivated me to start my own company. Am opening in a few weeks.

Thus, stumbling on this post is timely. You have given me an invaluable tool that will serve as a guide in my business. I will read, reread and keep reading this words of yours till they stick. I do hope to share my success story like others soonest.
I will equally request if you could be kind enough to serve as my financial advisor. I believe minds like yours are essential to young Nigerian entrepreneurs. Minds like yours are worth more than silver and gold.

Once again thanks for this insightful subject. As you gave freely what could have fetched you enormous financial returns. May God continuously bless you in all your endeavors. I remain grateful, today and always. Thanks.

Wonderful write up. Pls which part does one pay debt from?

Also, when one's investment yields result, does the ROI go to the I(investment part)? If not, where does it go. Thanks

YoungExec,

You have mail. Kindly respond, it's about this post please.

Thanks ahead.

Sorry this post is coming a year after. This is my morning.

I am in love with your WIRES idea especially the WC part which already is part of me.

However, till now I am unable to differentiate between empowerment (family expenses- fees and rents), Investment, reward and savings. Also, note that I think I am very disciplined. I already 'save' 60 percent of my earning every month (280k naira). However, I save with a target to get something. For Instance I was able to get a 2m car and a 1.5m land within a year and 7 months. I am not married though. I have no investments yet.

Right now, I am left with just the last 60% of my salary for the last two months after buying the car. Reading your post, I have now understood the full meaning of savings. This I already mapped out. I intend to open a new account and transfer the money I have to a new account as savings and then start life again by January. Following your idea.

However, I have a question. I intend to get married (+- 2 years time,1.5m budget) and then start building (atleast to be completed in 5 years,) on the land which of course is not an investment (residential house). Aside the WC and 'real' savings which are non-negotiable. How do you advise I best split my .IRE. (45 %) to be able to achieve this goal within the time limit since I am not even convinced if they are needs or just wants.

I hope Youngexec is still in here to answer all these