Thursday, November 5, 2009

Are You Working for Money?

In my previous post, I started talking about how my money is working for me. To put things in perspective for you and help you understand how far the good Lord has brought me, I’ve been called ijebu by my own family members because I like to keep my own money and spend everyone else’s.

But what’s the harm in that as long as I share some of mine with you when you’ve exhausted your own? Lol. But seriously, I am not one of those people who love the power that comes with buying whatever they want. Instead I feel like I’ve been overpowered or outsmarted when I spend. As if the seller has succeeded in separating me from my money. But because I like good things (who doesn’t?), I will help you spend yours if you like spending!

I don’t like finding myself without money (abeg who does?) so I’m slightly uneasy and grumpy when I’m broke. I like to have a savings, cut my coat according to my size and take zero risks.

But my motives for being prudent could keep me in a stagnant cycle. Why? Because I can fall into the trap of always working for money and not having my money work for me.

I’ve come to understand that having your money work for you is the path to independence and this will mean different things for different people but I think this means spending my money on things that would:

- bring in more money long term

- save me money in the long run

- improve the quality of my life or someone else’s life

But how does this play out practically? Are there any hard and fast rules? For instance, if you received a $20,000 bonus from your employer, would you use it as a down payment on a house, go back to school for your masters or buy a car? This is assuming that you need all three of these things and don’t own any?

What impact would your life circumstances have on making such a decision? For example, if you were…single, married, a mother, a father, due for retirement, an aspiring entrepreneur etc?

Tuesday, November 3, 2009

My inverter and My money

My inverter is a huge blessing! I am so so so happy that I invested in it. I was initially intimidated by the price of one battery -N60,000 - And I needed to buy two! So like a wise businesswoman I coaxed daddy dearest into footing the bill for one. After all I won’t carry the thing with me when I’m moving into my own house. Heh heh.

But my people, this inverter is more than worth its value! PHCN gives us an average of six or seven hours of electricity during the day. Yes, when most folks are hard at work in the office they fulfill righteousness and bring light and take it just as you’re stepping into your house in the evening! But with the inverter I can ‘save’ all that electricity for use when I get back home.

I could buy a generator at a cheaper price and have it carry hefty appliances like my A/C and iron, but my inverter still beats a generator hands down because: I don’t have to start combing my neighborhood looking for a kind gentleman to pull my generator. I don’t have to sit in the stuffy heat because I’ve shut the windows against the screaming generator noise. I don’t have to keep reminding myself to put the keg in the car so I can buy fuel for the gen. I don’t have to spend thousands on fuel and I don’t have to store fuel in my house!

Plus whenever they bring light, the inverter automatically switches over and begins to charge up again. I don’t have to interrupt my precious sleep to switch over to PHCN.

Now that’s what I call having my money work for me. More on money in my next post ;)

Sunday, November 1, 2009

NYSC Orientation Camp - November 2009

This month, two years ago, I was rounding up my three weeks at NYSC orientation camp. Oh, the good times (I'm not being sarcastic...well maybe a bit;)

But if you never went to a Nigerian government boarding house or more broadly have never been to an NYSC orientation camp, please prepare your mind as you go to camp on Tuesday - here is the Aje-butters guide for surviving NYSC camp.