I can say 90% of people asked I write about this topic. Las Las we all like money, so long we pursue it the healthy and legitimate way. So in no particular order, here are money lessons I’ve learned and still learning, because mistakes will still be made on this journey. Working people can learn from it. Business owners can learn and just about anyone else.
📌Don’t borrow money from one person to help another person. Except you have a source for sure to pay back in case the borrower delays or fails. Bottom line is don’t even do this, if you no get, you no get be that. Because you will become the new debtor and have to deal with paying back money you didn’t even use.
📌Save money. This is an ever green rule, save by paying yourself first, from your salary or whatever you earn from business. Whatever you save will save you in emergencies, will help you pursue an investment opportunity that may pop up, hence you multiply your money. Saving money will save you. You can save for emergencies, or save towards a specific investment, like buying a car for transport business to bring you more.
📌Don’t do business with extremely close friends or family except there is a solid agreement and a lawyer present. If you refuse to learn this one by following reading, you might have to learn by experience, just know that your relationship with these people may end up destroyed forever. Because I can’t even begin to tell you how money puts us all to test, the person you think you know will become a complete stranger because money is involved.
📌Don’t dabble in businesses you don’t understand or sound too good to be true. I’ve lost one 80k somewhere that I’ll probably never get back, I went for it because I felt the person who told me about it knew enough about it for me to follow, but Alas! Most importantly, don’t take a loan for a business you don’t understand especially businesses you can’t really hold anyone accountable, no leader, mentor or people who have tried and can direct you.
📌To get something, give something. If you are newly employed somewhere or even been there for a while. Do give your superiors something new from time to time, that way you can ask for a raise, get a promotion or move on to a better place because you have a lot to give and you are important. The more you know and put into practice, the more you can earn.
📌Show what you have done for yourself and you will easily find help. Don’t be a give me, give me, person, once you have showed what you have done for yourself, people will be happy to invest in you. I know someone who saved money for his masters and needed a little to complete it, he got it easily, because his helpers were impressed with how much he had saved from the stipends gotten from Npower program. I know another who saved up money running into 100k during her service year, she wanted to buy a camera of about 180k, but her helper was so impressed when she asked for help that he told her to keep her 100k and he bought her the camera.
📌Money should serve you, you don’t serve money. Some people just hoard money, they don’t use it. Even on themselves, let alone on others. Living like a pauper while you are stashing money away. You’ll still lose it one day, don’t worship money like that, when you hoard it with no goal in mind, you are a slave to it. Yes, there are real human beings who behave like this.
📌As a business owner or service provider, radically publicize what you do through every medium and platform available. BUT know this, marketing and advertising may not instantly bring you a huge sale, but has placed what you do before the eyes of many more who will save your advert and could reach you later for that big sale or contract. And don’t be ashamed of your hustle, face front. The people who don’t see value will ask you how you are doing it later.
📌Money can be learned about. And some people are not just noise makers, they do know some laws about how money works, and are teaching people. Find them, pay for their whatsapp classes, coaching classes or courses. It’s worth it.
📌That some cannot afford a product or service you offer at a certain price does not make you expensive, they simply can’t afford it and you should learn not to drop your prices based on people’s emotions, as long as you are not being ridiculous compared to your competitors. You can also make it affordable for them by offering a system that makes it affordable, an example is installment payment.
📌Learn to budget. This should be easier for salary earners, because you have a structure for when you receive money. You should know what you are spending on before the month ends. You can’t just receive money and in a week it’s all gone. Budget for your savings, your transport or fuel money, something to keep you going during the month for little things like recharge and data. Keep these in different accounts if possible. The cloth you saw last month which you wanted. Buy it the next month as added in your budget, any extra change you have at the end of the month, reward yourself for a month of hard work by doing whatever you like with it.
📌Study the life of people in your field or business who you believe are successful. Reach out to them for guidance if possible, you can learn faster from people by understanding their mistakes and avoiding them, though your own journey will be unique too.
📌Keep yourself in view of those who have invested in you, and have influence. They are your pathways to opportunities to make money. Keep in touch and serve them willingly, you’ll be on their mind when a good opportunity comes dancing azonto.
📌 Attend events where you’ll meet people ahead in life, even if you have to pay to be at such events. There is a reason the higher class roll with the higher class. They think alike.
📌Don’t tell just anyone how much you earn. Believe me they’ll start calculating your expenses for you and justify why they believe you ought to give them something or anything anytime they ask.
📌If you are really good at what you do. Find competitions locally and internationally you can enter, you can win money or tools for your trade. I once won a laptop, which served me for many years. The worth of the laptop was not less that 120k at the the time. I always need to work with a laptop and almost needed another when l won that one. You can win good money if you look at competitions around what you do.
📌Stop ignoring your thoughts. You can achieve the things your mind whisper to you if you just stop doubting everything. In our thoughts lie opportunities for us to break out of average. In our thoughts lie great ideas. In your thoughts are answers for you on how to make a some more money. Start listening and acting.
📌Attach time frames to achieving your plans it keeps you disciplined and focused. Don’t keep your money plans open ended. Do you want to save up to achieve something, decide how much and for how long. Otherwise, 10 years later you are still planning and trying and maybe blaming village people.
📌Have one account you make less accessible. No bank app or ATM for it. Money can easily go in, but not easily come out.
📌Finally and a very important point to have at the back of our minds. Not all of us will be exceedingly rich, famous or influential. There are many famous people who are broke, there others who are rich and around you, but you barely know them. Not a lot of people know Cosmos Maduka. Yet he’s one of the richest in Nigeria. Some people also just have influence, they can move a whole nation to act, though that comes with some money too.
Back to the main point, what we should absolutely strive to achieve is a life where we can meet our basic needs of food, clothing and shelter. Once this is achieved, we strive to have a little more than extra for other wants, a car, some emergency savings, and we can finally become people without money problems, meaning we are comfortable enough to pull out money for just about anything including the needs of those around us. If destiny, the Universe, God, picks us that we will be exceptional like Oprah, or Dangote with companies, fame and more, then great. This post was just to give pointers that actually work, maybe not instantly. Because many probably stopped reading because they are looking for get rich quick points. I don’t have. Hehe! If that was me too, I won’t be here writing this, because I wouldn’t have learned this too.
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