Top Ten Foolish Ways Nigerians Loose Money (See)
There are several ways Nigerians loose money on a daily basis , while
some are unavoidable others are, below is a list of the top ten ways
Nigerian loose money and why.
1. Unnecessary Parties It is estimated that
Lagosian’s spend close to 40 billion Naira annually on parties alone .
Most analyst have argued that most of these parties are completely
unnecessary and most times do not add value to either the host or the
guests.
2. Insisting on Designers, Labels, and Brands From groceries to clothing
to prescription drugs, you can save money by choosing an off-brand over
a fancy label. And in many cases, you won’t sacrifice much in quality.
Clever advertising and fancy packaging don’t make brand-name products
better than lesser-known brands. For example, generic drugs can cost as
much as 80% less than their brand-name alternatives.
3. Shopping at the wrong store If you are Particular about price then
don’t just walk into any store , a Bottle of drink at MM2 will cost you
almost thrice the amount you buy it at your neighborhood fast food
outlet , a supermarket in victoria Island will not sell Gala at the
price you get it in Oshodi
4. Paying for “ashoebi” you may Never wear again, Today, almost all
weddings, burials,Birthdays and even naming ceremonies now have a
uniforms which organizers use in adding color and or liquidating their
guests ! This is one of the Biggest drain pipes in most low income
Families who can hardly afford three square meals but are willing to
mortgage their 5 months salary for a 2 hours programme!
5. Maintaining a Fleet of Cars Most people keep a fleet of car to show
the world they have arrived , However they fail to realize that their
cars start diminishing in value the moment they drove out of the show
room . The Insurance ,licensing , and maintenance is an unnecessary
expense for a vehicle you drive once in a month!
6. Multiple Girlfriends or Sugar Boys. Women are wonderful creatures,
history is replete with men who died because of women only to have those
women become concubines of the men who killed their lovers . A Man with
a retinue of girlfriends will have to Buy Credit for Shade , change
wardrobe for Ngozi and pay house rent for Fatima all these add up to
keep the young mans account in perpetual red ! In the same vein women
are reinventing slavery but this time on a different dimension, they
have mastered the act of keeping “Bingos” whose only duty is allegiance
to the Bosom of a woman old enough to be their mothers . One peculiar
thing about these “bingos” is the Fact that they have taste as such
keeping many “Bingos” sometimes leave a tsunami effect on the bank
account !
7. Leaving Your Money in a Low-Interest Account If you’re stashing your
cash in a traditional savings account earning next to nothing, you’re
wasting it. Make sure you’re getting the best return on your money. Fix
any money you don’t need and earn good returns from your bank instead of
paying account management fees to a bank which charges you for using
your money.
8. Not Pulling the Plug on Electronics If you use a prepaid meter this
is one of the reasons your credits develop wings. Electronics that have a
clock or operate by remote are typical culprits. The obvious way to
pull the plug on your energy vampires is to do just that — pull the
plug. Or buy a device to do it for you, such as a Smart Strip Power
Strip which will stop drawing electricity when the gadgets are turned
off and pay for itself within a few months.
9. Buying at the Wrong time ! This mistake could some times have
devastating effect Its is dangerous to Buy a Land or House during dry
season because the area might be prune to floods or the Land could be
waterlogged . Building during raining season on the other hand also has
some advantages 1. Cost of Building materials especially cement falls
2.Molding Blocks and water supply for concretes works could be made
easier especially for those in arid areas
10. Borrower ! Pls Borrow me =N= 500,000 I have a business deal I must
close tonight? Many people have lost millions and made great and wicked
enemies just because they choosed to help. The wisdom here is never lend
out an amount you are not willing to forget! Any business that is too
good to be true is too Good to be legal!
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