contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Do u read books? Go and read “The Richest man in Babylon@. There’s no crime in spending especially with ur threshold and on the necessary bt it is a crime to spend more than u saving or investing on set periods of time. U will be very unwise and foolish. Read the book! It will teach you.

Giving is good bt u must learn 2 things, 1. who to give cos a lot of people will always ask and 2. ur threshold of giving over a set period, giving outside ur immediate family shud be done carefully and shud not dabble with ur actual savings.

In other words organize ur life and start planning for ur future from now.

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

There is no better brain reset Than when you lose everything and you have nobody to help you.

That is when you will learn.

I speak from experience.

Avoid too much walkabout, always plan your movements and spend more time at home and work. That way, you'll have little time for external influence.
We mustn't always learn by being victims,,, stay woke!!!

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Chai man is speechless at the moment......but my prayers for you bro is that as God have brought you up and have mercy on you may evil workers never know ur limit and may their evil expectations towards you be frustrated IJN

I really understand how growing up was for you I really do....may ur coast be expanded bro. bless up

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Thank God you are coming out of lack you have been through, but it will be a bad thing if you take yourself back to it

Law of survival is you first

As you have sympathy on people, bear in mind that you will be the one to bear yours when it comes

Plan by saving and acquiring things once the opportunity comes

Be discipline with money and spending

Don't be borrowing any how, when you can use part of it to aquire plot of land or even half plot and start erecting a structure there

Once you start this, you will have a place the money should be going, that's what money is really meant for

Don't allow people with lack of vision to be your friends, they lack future prospects

nextstep:


Seconded and thirded. For budgeting, I like to use the "pay yourself" model, where from your paycheck:

10% is saved where you can reach it easily in case: savings account. This is short term emergency savings. You want to keep adding to this year after year so if you were to lose your income, you can draw from this. Ideally you need 6 months of expenses saved here.

20% is invested where you can't easily cash out: buy dollars, land, treasuries etc. This is long term savings to retire on. Even in hard times, do not sell this, that what your 6 months emergency fund is for.

10% is tithed or used for charity. Use this - and only this - for giving away. Don't loan people money, only give what you can give away and forget.

10% is for extravagant spending on yourself (including wife and kids if you have them). Don't tap your savings or investments for this expenditure.

50% is for your upkeep. Housing, feeding, transport, clothing, school fees, etc. The nice thing is after you've removed 50% for saving, investing, tithing and splurging, you're forced to live within this 50% without needing to budget too much.

When you "pay yourself" by saving/investing 30%, you can use the rest without any guilt.

Well said!!!

DexterousOne:


I hoped you keep the USD in a dorm account tho

Is that compulsory

Don't save for the future, invest for the future. Learn to grow your money than saving it to enrich bankers.

Oluwapresley:



I will suggest to you what was also suggested to me and has worked till date. The only time it didn't work was when I didn't follow it.

1. Have a target savings plan (Ecobank helps me with this with the Ecobank Target Savings Account). It is like the normal savings account, with higher interest rate and a little restrictions on withdrawals to encourage savings.

2. When you receive money (either salary or however form of income), take out what you intend to save and credit that account immediately. Better still, activate a direct debit/standing order on your account such that at a given time at regular intervals, so so amount of money is taken to your Target Savings Account.

3. Whatever is left, plan your month with. That way you know that however way you want to spend, your savings is already intact somewhere yielding profit.

I have noticed that you CANNOT SPEND WHAT YOU DON'T READILY HAVE ACCESS TO. And even if you can, it will be your last resort.

About that Ecobank Target savings, acc, how many percent is the interest rate, and what are the restrictions on the withdrawal.?

Solomon8144:

I learnt this the hard way. I got into a relationship that completely ruined me now i got less than 10k naira in my account unlike before i had close to 500k in my account before i got into one over clingy relationship even up till today my stupid self is still yet to break up tho she graduated already I'm waiting for her to move away from school area then i black her out completely.

I bleeped up. Relationship is really expensive for a struggling guy. I got up to 150k debts on my neck now and i can't ask my parent for money anymore cos I used to help them even help my younger ones in school and my other brothers when they got any problem that i can assist. They think I'm able to take care of myself now i. Can't imagine myself calling my mom to ask her for 2k chaii i no fit o.

I'm back to square zero I'm just in school with nothing.

I ruined my life myself instead of us to just sex the sex we actually wanted i went to stupidly ask her out.
This life sef

Up until I got married,I never gave a woman shishi. One even used pregnancy as a bait to nail me I told her I will marry her but on one condition that I was going to do a DNA testing cos I will not tolerate another man's child in my home.
She stopped.
Secondly,when u date a woman it should not be for expenditures and the purpose for such relationship should be established.

Without a purpose u will be swindled,and take note, that not all women are after ur money if u are truly serious.

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

First of all, You don't need motivation to start saving. What you need is DISCIPLINE!

Akpan107:
Givers never lack, but you must give wisely.

For better financial security, buy land and start develop it, possibly, live in a part and rent out the rest.

50% of your problems are solved when you live in your house.

how he will save up and buy the land is the issue or is land 30000?

pocohantas:
OP, you have been through a lot and that has made you connect with the empathetic side of you a lot. Humans like your type, they take advantage of your type, they emotionally blackmail your type...

Somehow they don't know you give just because it is who you are. They think you are "mugu" or one with few responsibilities. Been there, done that...not anymore.

You need to learn to say NO and mean it. Before they tell you their problems, start telling them yours. Buhari is still the President abi?

Look around and you might identify a need that can enable you diversify. There is real estate and if you are looking for how to invest your "cash"- look beyond (Tier 1) commercial banks. They don't encourage such. Other financial houses, including MFBs are your best bet.

Also be careful of the kind of woman you let into your life. All these new-generation slaykwins that live for the moment are very bad for a struggling young man.

I have this thought that real estate requires huge capital. Is there any other means of making investment with little capital?

Invest in micro pensions plan

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Good for you to appreciate where you are coming from in terms of paucity of funds and even better that you do not want to return to that state; trust me, I know what you are talking about and i will give you some suggestions or advice to hold on to.

1. Always remember that it is possible to go back to that state of lack of fund you grew up and use this thought as a motivation never to return to such.

2. PAY YOURSELF FIRST: I don't know how much you earn per month/week but whatever it is; pay yourself first. If you earn 100k /month, before anything, remove 50% and save in an investment account (start with this option: STANBIC Money market can help you here) and build up capital there for future business/investment. Now you might ask yourself can 50% of my money take me till the end of the month? my answer to that is "you never had that money before and you survived till now", trust me it will take you. This money is yours for growth alone. When I was growing like you i was saving 90% of my income until i became very comfortable. I still do ~70% till date and I earn big. I can boldly tell you I own couple of companies now in Lagos and still have over 100M cash in account for someone that started with #0 just about 10years ago.

3. Separate emotions from reality and opinions from fact; this is what people around you will use to get money from you. They will say things like if you do not help them they will die. It is a lie!!!. If you are not alive will they die? Learn to separate reality from peoples opinion or emotions especially about your money.

4. Give yourself financial yearly target and try to hit it through savings/investment/business, e.g tell yourself you want 10M in your account by end of the year and do everything to achieve it; you will be amazed how much you will get. Extend this target to your businesses and everything financial around you.

5. Get a financial mentor; someone you want to be like and try to learn from him/her. You may not have one close to you so just get someone you can get books on and read about how the person made his money and try to replicate it.

6. Start reading books on financial and money matters and how to grow them. it will really help you. start with "The Richest Man in Babylon", try and read it more than once. Then start practicing what is inside you will be amazed.

7. Never try to run a business by proxy; not at this stage, you will loose the money. Do businesses that you can be part of. As you grow you will know when to run by proxy. So if any family member tells you to give him/her money to run a business and you will get returns, do not do that.

8. Always go to financial seminars/workshop or just watch them on youtube if they are expensive for you. The idea here is to stay close to people who want same thing as you and work for it like you do. If you have to change friends to do this, never blink an eye.

I hope with this God willing you should never go back to where you came from. Enjoy the financial growth journey my friend.

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

Contact me, just check my signature will like to meet you in person

ibechris:






Up until I got married,I never gave a woman shishi. One even used pregnancy as a bait to nail me I told her I will marry her but on one condition that I was going to do a DNA testing cos I will not tolerate another man's child in my home.
She stopped.
Secondly,when u date a woman it should not be for expenditures and the purpose for such relationship should be established.

Without a purpose u will be swindled,and take note, that not all women are after ur money if u are truly serious.

Thanks bro.

I was just plainly stupid

Treasury bills is an option. Access Bank made it easy — you can do with as low as 100k. So, any amount above 100k that you have no use of, you easily send to Treasury bills. Depending on the duration, the interest rate can be 11— 12.5%.
Any time money enters, after removing the one you need for your upkeep, send whatever is left (once it's=>100k) to Treasury bills.

Keep rolling them at maturity and adding more from your income, as usual. Once they are getting big, start converging them to mature about the same period, while you start looking for a safe landed property to move the money into.

There are other good recommendations up there: SIBTC mutual fund and domiciliary account. You can inquire about those two; they look promising.

If random girls (or slay queens, as they say) always praise you and say "The boy is good, he's wassup and generous" and your mum and dad don't necessarily share that opinion, then you may be heading down the route of bankruptcy, no matter how much you think you have now.

On the hand, if most girls (except one dear one) dislike your financial philosophy, you may be heading in the right direction.

True story

Solomon8144:

Thanks bro.

I was just plainly stupid

U are not brother...it will help u to adjust with time.

Start investing in Money Market instruments through asset management companies

contumely2:
I am a man in late 20's.
I grew up in lack. I suffered so much growing up. In fact, at a point the court had to eject us and threw our properties on the streets for inability to pay rent.

School fees were paid in instalments. Not like the fees were much even. But the funds were never there.


God has blessed me reasonably in the past few years. I made a lot of sacrifices too, denying myself pleasure, delaying gratification etc.

Lately, I noticed that I have been extravagant. Some of the extravagance is masked as charity to people.

I hardly say no requests and I empathise and pity people a lot.

If I lend money to 10 persons, only 3 will pay back.

I also buy some things on impulse; without planning. I regret some of these purchases later.

HOW DO I STAY motivated so as to save more to invest because the future is uncertain. And money is not always there?

I also understand that those we help may abandon us in time of need.

I don't want to learn the hard way.

Kindly share your experiences with grace to grass; or with people you helped in times of plenty.

Or your regrets with finances especially early in life.

Thanks!

JomoGbomo2:


Good for you to appreciate where you are coming from in terms of paucity of funds and even better that you do not want to return to that state; trust me, I know what you are talking about and i will give you some suggestions or advice to hold on to.

1. Always remember that it is possible to go back to that state of lack of fund you grew up and use this thought as a motivation never to return to such.

2. PAY YOURSELF FIRST: I don't know how much you earn per month/week but whatever it is; pay yourself first. If you earn 100k /month, before anything, remove 50% and save in an investment account (start with this option: STANBIC Money market can help you here) and build up capital there for future business/investment. Now you might ask yourself can 50% of my money take me till the end of the month? my answer to that is "you never had that money before and you survived till now", trust me it will take you. This money is yours for growth alone. When I was growing like you i was saving 90% of my income until i became very comfortable. I still do ~70% till date and I earn big. I can boldly tell you I own couple of companies now in Lagos and still have over 100M cash in account for someone that started with #0 just about 10years ago.

3. Separate emotions from reality and opinions from fact; this is what people around you will use to get money from you. They will say things like if you do not help them they will die. It is a lie!!!. If you are not alive will they die? Learn to separate reality from peoples opinion or emotions especially about your money.

4. Give yourself financial yearly target and try to hit it through savings/investment/business, e.g tell yourself you want 10M in your account by end of the year and do everything to achieve it; you will be amazed how much you will get. Extend this target to your businesses and everything financial around you.

5. Get a financial mentor; someone you want to be like and try to learn from him/her. You may not have one close to you so just get someone you can get books on and read about how the person made his money and try to replicate it.

6. Start reading books on financial and money matters and how to grow them. it will really help you. start with "The Richest Man in Babylon", try and read it more than once. Then start practicing what is inside you will be amazed.

7. Never try to run a business by proxy; not at this stage, you will loose the money. Do businesses that you can be part of. As you grow you will know when to run by proxy. So if any family member tells you to give him/her money to run a business and you will get returns, do not do that.

8. Always go to financial seminars/workshop or just watch them on youtube if they are expensive for you. The idea here is to stay close to people who want same thing as you and work for it like you do. If you have to change friends to do this, never blink an eye.

I hope with this God willing you should never go back to where you came from. Enjoy the financial growth journey my friend.

please help me with 10k I promise to use to buy treasury bills

The boy is good.....
Without a goal you cant reasonably saves, you must have a plan or target, this will be your driving force to save money.
That poverty that dazed your childhood is lurking around waiting for you to misuse all the opportunities you have now before they have your time.
The boy is good ...., pretend to be broke for a month or two then you will know that nobody send you.
Money is a stranger.. I have seen people that have misused millions and will never be able to gather 50k unless God remembers them.
You can embark on buying a land and start building I am sure your mind will always be on the project with every kobo you have. You can sell it in future for a bigger plans.
Finally I leave you with this song...
...when money comes your way everybody comes your way but when money runaway......

JomoGbomo2:


Good for you to appreciate where you are coming from in terms of paucity of funds and even better that you do not want to return to that state; trust me, I know what you are talking about and i will give you some suggestions or advice to hold on to.

1. Always remember that it is possible to go back to that state of lack of fund you grew up and use this thought as a motivation never to return to such.

2. PAY YOURSELF FIRST: I don't know how much you earn per month/week but whatever it is; pay yourself first. If you earn 100k /month, before anything, remove 50% and save in an investment account (start with this option: STANBIC Money market can help you here) and build up capital there for future business/investment. Now you might ask yourself can 50% of my money take me till the end of the month? my answer to that is "you never had that money before and you survived till now", trust me it will take you. This money is yours for growth alone. When I was growing like you i was saving 90% of my income until i became very comfortable. I still do ~70% till date and I earn big. I can boldly tell you I own couple of companies now in Lagos and still have over 100M cash in account for someone that started with #0 just about 10years ago.

3. Separate emotions from reality and opinions from fact; this is what people around you will use to get money from you. They will say things like if you do not help them they will die. It is a lie!!!. If you are not alive will they die? Learn to separate reality from peoples opinion or emotions especially about your money.

4. Give yourself financial yearly target and try to hit it through savings/investment/business, e.g tell yourself you want 10M in your account by end of the year and do everything to achieve it; you will be amazed how much you will get. Extend this target to your businesses and everything financial around you.

5. Get a financial mentor; someone you want to be like and try to learn from him/her. You may not have one close to you so just get someone you can get books on and read about how the person made his money and try to replicate it.

6. Start reading books on financial and money matters and how to grow them. it will really help you. start with "The Richest Man in Babylon", try and read it more than once. Then start practicing what is inside you will be amazed.

7. Never try to run a business by proxy; not at this stage, you will loose the money. Do businesses that you can be part of. As you grow you will know when to run by proxy. So if any family member tells you to give him/her money to run a business and you will get returns, do not do that.

8. Always go to financial seminars/workshop or just watch them on youtube if they are expensive for you. The idea here is to stay close to people who want same thing as you and work for it like you do. If you have to change friends to do this, never blink an eye.

I hope with this God willing you should never go back to where you came from. Enjoy the financial growth journey my friend.

Please sir, I'm sent you a DM for mentorship. I thought I was trying hard, but you just slapped my face.

RaphaellaDD:


Is that compulsory

Nope
But its better

Considering how naija dey cast

It's not the best idea to keep say $1500USD at home.
If those bad guys show face

DexterousOne:


Nope
But its better

Considering how naija dey cast

It's not the best idea to keep say $1500USD at home.
If those bad guys show face

I'm just afraid of the banks and their annoying charges. I've heard too many stories abeg

Cultivate the habit of saving, don't borrow anyhow and invest in profitable business.

RaphaellaDD:



I'm just afraid of the banks and their annoying charges. I've heard too many stories abeg

The charges may not be too much

avoid frivolous buying as much as possible,
invest in tbills, only tbills
reject use of ATM cards
no mobile banking app, no ussd code,


thank me later

Solomon8144:

I learnt this the hard way. I got into a relationship that completely ruined me now i got less than 10k naira in my account unlike before i had close to 500k in my account before i got into one over clingy relationship even up till today my stupid self is still yet to break up tho she graduated already I'm waiting for her to move away from school area then i black her out completely.

I bleeped up. Relationship is really expensive for a struggling guy. I got up to 150k debts on my neck now and i can't ask my parent for money anymore cos I used to help them even help my younger ones in school and my other brothers when they got any problem that i can assist. They think I'm able to take care of myself now i. Can't imagine myself calling my mom to ask her for 2k chaii i no fit o.

I'm back to square zero I'm just in school with nothing.

I ruined my life myself instead of us to just sex the sex we actually wanted i went to stupidly ask her out.
This life sef

All I can say is pele.

Buy a book called "the richest man in Babylon". If you read that book and still not know how to manage your finances properly and invest in other to acquire wealth then truly your village people are doing you.

Rule 1 : Save at the very least (it could be more ) 10% of your salary every month. Never ever touch it. I mean never ever touch it for luxury or temporary gratification.

Buy the book and find out the rest yourself.