Connect with us

Lifestyle

5 Money Myths That Have Made Nigerians Broke

Published

on

Money myths are simply false beliefs or ideas that have been widely held about money. The negative effects of money myths cannot be fully quantified, they discreetly undermine efforts made at getting ahead financially, a downturn which makes citizens blame the country’s ailing economy, their employers and even relatives without knowing they have themselves to blame for their financial woes.

Sad as it is, we have to admit that being broke is a choice because the beliefs of broke people make them financially stagnant. Fortunately, there’s always an opportunity for everyone to get ahead financially. A good step in that direction is to recognize and renounce some of the destructive beliefs we have about money.

1. Higher quality means higher cost.

This is a myth that increasingly robs Nigerians of their hard earned money. Although higher quality may sometime equate to higher cost, that’s not the case 90% of the time. Have you ever wondered what makes people increasingly believe that they get higher value for higher cost, inadequate information about a product of lesser cost does. The fear that a product of lesser cost will not stand the test of time makes people opt-in for that of higher cost. Getting ahead financially demands that you don’t pay extra or twice the original cost for anything you need because you are not well informed.

2. Spend more on making more money.

This could be much considered as a bad habit than a belief. It underscores the fact that “people are broke because they act the way they do”. Sit back and analyze the effect of your lifestyle on your income, how damaging is it?. On the other hand, consider maintaining the same level of lifestyle as you earn more, awesome?.

3. Start saving after earning more.

While this is logically possible, the truth is you already have plans on how to spend the increased earnings you get. Therefore there is no chance of saving except you make conscious efforts at saving from the little you earn. This can be effectively achieved by treading a path recommended by George Samuel Clason in his book the richest man in Babylon. The path advocates saving 10% of whatever you earn also known as “Me Tax”.

4. Invest after you have lots of money.

Humans are insatiable hence you can never earn what you consider enough to start investing. In fact, waiting to earn more before investing could pass for procrastination. In that light, the best investment is what you do today with what you have. It suffices to say, getting started today will set you on the path of reaping benefits soon than waiting for an imaginal future increase in earning.

5. You only live once.

This is a cliché turned money myth and probably the most destructive of all money myths. It defeats every point of this article by making you comfortable with the belief that higher quality means higher cost, encourages you to spend more after making more money, makes you think that you can Start saving after earning more as well as invest when you have enough money.

Source – Ngtrends

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Travel

Exotic Resorts May Be the Best Bet for a Holiday

Published

on

An exotic vacation usually means exploring a distant foreign country, whilst resorts are places
to go for rest, sport, or which offers a particular speciality, with many resorts being part of a
popular tourist destination or on or near a beach. If you are planning a vacation to an exotic
resort it can be a once-in-a-lifetime vacation to a far-flung destination or a luxurious place to
stay closer to home where you can enjoy some pampering.

Why stay at an exotic resort

Exotic resorts often offer all-inclusive vacation deals, along with other options that leave you
to plan your stay more precisely to your own wishes. These resorts offer excellent customer
service, superb accommodation and facilities and are usually to be found in beautiful settings.
Here are some of the best resorts from around the world for you to consider:

Four Seasons Resort, Seychelles
This famous resort has made many feel they have entered Paradise. The gentle ocean breeze
floats up the granite hillside and into your tree-house villa tucked away from the other guests
staying at the resort. This is perfect for encouraging you to relax, either by your private pool
or in the clear blue waters of Petite Anse Bay. Perfect for a romantic stay, there is a Spa for
pampering and the chance for a sunset meal on a deserted beach.

Some enjoy simply sitting on their balcony, gazing at the ocean between reading their book,
sketching or checking out international bookmakers and betting sites for the chance of a
flutter. If you want another type of adrenaline kick, check out the resorts excellent kayaking
and snorkelling facilities, which are recommended by nearly all who try it.

Anantara Resort, Hua Hin, Thailand

The ultimate tropical getaway, the Anantara Resort is an award-winning site modelled on a
traditional Thai village and is just three hours drive south of Bangkok. The location is where
Thai royalty and aristocrats have been holidaying for almost one-hundred years. Today, you
can visit historical attractions alongside theme parks and shops as well as vineyards and golf
courses.

The resort is set among 14 acres of lush tropical grounds with lotus-filled lagoons and
meandering pathways through exotic foliage, with many rooms overlooking the shoreline.
Each day, chefs prepare freshly caught local seafood alongside Thai specialities. The resort
also has an award-winning spa located within a lagoon-inspired oasis offering you the perfect
opportunity to relax.

Kurumba, Maldives

Kurumba is a well-established resort that opened almost 50 years ago and continues to offer
superb hospitality and contemporary facilities. There are seven speciality restaurants offering
cuisine from Italy to the Middle East as well as Thila, a restaurant which extends out over the
water which offers gourmet breakfasts and seafood dinners.

You can go snorkelling over the nearby reef full of colourful marine life or sign up to a dive
package as part of your stay, or just enjoy a private pool when staying at one of the spacious
villages. There are also deluxe beachfront bungalows offering direct beach access and views
of the crystal-clear waters.

Continue Reading

Coronavirus

Healthcare Workers To Receive Coca-Cola-Funded PPEs From Nigerian Red Cross

Published

on

Since the outbreak of the Coronavirus disease in Nigeria, our healthcare workers have continued to lead the charge against the disease. As the number of recorded COVID-19 cases in Nigeria began to increase, these healthcare workers rose to the challenge and fought tirelessly to protect the lives of Nigerians impacted by the disease.

Considering the risks these healthcare workers face, there is a crucial need for adequate protective equipment for these brave frontline workers.

Coca-Cola is excited that over 400,000 Personal Protective Equipment (PPEs) procured to support the intervention efforts of the Nigerian Government and other key stakeholders to fight the COVID 19 pandemic have arrived. We do believe that this will to provide succor to our healthcare workers on the frontlines

These PPEs comprise N95 respirators, surgical masks, examination gloves, face shields, medical gowns, no-touch thermometers, disposable aprons, heavy-duty rubber gloves, rubber boots, basic masks, disposable gloves, and hand sanitizers.

Since the first confirmed case of the disease in Nigeria reported in February, over 800 healthcare workers have contracted the disease. While Nigerians are encouraged to stay home where possible and practice social distancing, these healthcare workers are needed across the country in the continued fight against the disease.

This donation forms part of The Coca-Cola Foundation’s COVID-19 relief interventions in Nigeria. The Coca-Cola Foundation has provided $2.5m in grant to IFRC who seeks to directly impact the lives of 1.4 million people in Nigeria and across other countries in West and Central Africa under this partnership.

Continue Reading

Events in Nigeria

Taking Care of Tomorrow’s Leaders Today – The itel, Lagos Food Bank Example

Published

on

Waking up to a special meal or choice gift is the best feeling ever. Hundreds of children in Mushin, mainland Lagos, had a filling taste of this feeling for the October 1 st celebrations. It’s an experience they will remember for a long time.

Being one of the most responsible corporate citizens around, celebrating Independence Day was always going to be on the radar for itel Mobile. To make this possible and memorable, the brand got to work in earnest. The focus of the work was picking the best way to commemorate the 60th independence anniversary of the most populous black nation on earth.

The efforts soon paid off through an impact-driven partnership with the Lagos Food Bank Initiative. With the arrangement, both partners considered a couple of activities capable of affecting communities positively and bringing smiles to people’s faces in Lagos. At the end of the exercise, taking care of children, the leaders of tomorrow, in the commercial city secured the highest votes.

With the decision, itel Mobile set about making this happen. Not surprisingly, the decision was
influenced by giving children the means to excel and prepare them for leadership and nation-building, for them to enjoy better life. For the good of their immediate family, community and the Nigerian society.

Idiko, Mushin, a suburb of mainland Lagos, was chosen as the benefiting community. And the partners strategically reached out to the beneficiaries, children and families, with gifts of love, care, happiness and support made possible by the itel Love Always On CSR initiative.

Over 1,000 families benefited from the gesture as well as 600 children, and each one of them received food packages to celebrate Nigeria’s 60 th Independence Day commemoration.

Speaking on the event and itel’s Love Always On CSR Initiative, Oke Umurhohwo, itel’s Marketing Manager said, ‘We wanted to mark this year’s Independence Day celebrations differently, and that is why we did something so momentous for our children. Children are the backbone of any longstanding community, and as such, we are proud to be able to give back and support them on their journey as leaders of tomorrow and for a better life.’

To meet the demands of the memorable event, 30 volunteers joined the customer-centric brand and the Lagos-based NGO to share smiles, and to convey just how important it is to love and take care of today’s children who will ultimately become leaders of tomorrow.

With the thoughtful activity, there are insights for everyone, from the government to citizens, on partnerships that are capable of making life better for children. Indeed, itel Mobile and the Lagos Food Bank Initiative have offered a great template on bringing this to reality.

Continue Reading

Trending