Small money, very big problem
I saw a funny comedy skit once, the interviewer asked a man what the first thing he would do if he won a million naira lottery prize was. He thought carefully for a long while and then replied with much passion, emphasizing every syllable of his sentence as he spoke_
“I go chop suya, walai I go chop suya !! ” he exclaimed excitedly
As funny as it may sound, we all have that “I go chop suya” gene in us. Mostly because of the emotional effect money has on us all. Money to our brain means reward, especially when we have offered a service or some form of value for it. We believe if we have earned it, then we deserve to spend it, or at least some of it on some form of compensation to ourselves for the stress we had to go through.
I remember the first time I earned a big commission at my job, my “I go chop suya gene” was at its peak performance state. I had waited over three months, from initial negotiations, to closure, to payment period to receive compensation. The suspence was suicide.
The number of things I needed to spend money on by far exceeded what I was about to earn, every need urgent. As the days went by, more and more expenditures kept popping up. Eventually when the money came, my impulses took control. Long story short, I chop suya dieeee(metaphorically, that is).
Korede komaya, is famous for this words “be deliberate. If you leave your life to chance, you may never stand a chance”. I believe “be deliberate” is the best financial advise anyone can give you. Money, is perhaps the most influential factor to our day to day decision making, resources determines many of the key life decisions we make, so leaving our financial wellbeing to chance is being reckless at best.
Quite frankly, I don’t believe financial mastery is a walk in the park. It takes many years of deliberate action, discipline, frugality and industry to achieve financial independence, most people never do. Although the path to financial Mastery is treacherous, the ultimate rewards far out way the sacrifices.
Here’s what i suggest_ next time you are in a waiting period to receive a large sum, make a list of all the expenditures you have to make. Make sure this list is succinct, and contains all expected expenditures you intend to make, no matter how trivial they may be. After you make your list, arrange them in an order of priority. Expenditures which have the potentials of bringing future returns such as investment in business ventures, skill acquisition, education and personal development should take utmost precedence on your list, while other less important expenditures follow.
In truth very few things trouble the head and the heart like having small money. The decision paralysis we experience when we have to decide what needs to forego and the ones to gratify, but the journey gets easier in time, especially when you make paying yourself first a rule you live by. Don’t forget that every naira you hold is a potential fruit to grow a money tree from.