Financial Education 101, by Waheed Ogunjobi

Compilation by Waheed Ogunjobi

©️ February, 2022

Financial Education 101.

1. Imbibe the Saving Culture. Save more than you spend, the inflow must ourweight the outflow to break even. Don't eat away your future.

2. Embrace Multiple sources of income, no one stands on one leg and remain comfortable.

3. Do not hold back when it comes to spending  money for knowledge acquisition. Knowledge becomes power when it is properly acquired and utilised. A Knowledge not harnessed remained in the bottomless pit.

4. The only  reasonable condition to borrow money is to make more money or don’t borrow money at all if you can help it. Pilling up debts will only put you in financial bondage and perpetual dependence. Before you spend, earn! You can be extravagant. At least spoil yourself once in a while. Don't put the entire problem of the world on your own head. But, when you are spending, make sure you are earning to avoid pitfalls.

5. You are not too old to learn a skill. Please , let us dismiss the poor man  mentality notion that has held us back. In this digital age, we must learn and unlearn, and then relearn. So, let's debrief ourselves. Let us begin to learn new skills that earns us money. That is the way to go.

6. Do not be a bad debtor. A bad debtor on the long run is a bad loser. Hence, Borrow and redeem the payment. It is criminal to borrow without redeeming it. What goes around will surely come around.

7. Take loans to expand your business, no one builds an empire on mere personal savings. Learn to use other people's money to grow yours. It is part of  billionaire secrets , no one will tell you. Maybe you don't know, Dangote still borrow money. So, what is the fuss about you borrowing? Borrow to grow. If you do not borrow to grow, you will borrow to survive.

8. Make money while you are sleeping, let money work for you. Don't work for money all your life, it will wear you out.Be wise. If you are not making money while you are sleeping , you are just still struggling  to make ends meet.

9. Mingle less with people of no purpose or value,your network is your networth. Understand the power of strong relationship and use it to your advantage.

10. Don't let any religious or social dogma make you believe money is evil, legitimate money is good ; when desperation lead to commission of crime to get money is what makes money evil. Chose right!

Regards,

Waheed Ogunjobi

©️ February, 2022