“Ah, I made a lot of money in the last 5 years. There is nothing meaningful I have spent the money on. I own a house that I now understand is not an asset!”
“I have 1 million Naira, what can I do with it to generate regular income?” Are these questions you are asking? Do you know anyone around you asking these same questions?
A fool and his money are soon parted! Financial illiteracy is a canker worm that slowly destroys your hope of reserves. He that gets cash ahead of wits is only but a short time the master of it. The wife that is married by funfair will be carried away by staged performance. If you earn and don’t have reserves, financial intelligence is missing.
The best preparation you can have for money is to ensure you develop financial intelligence before it comes your way BIG time. Invest in being knowledgeable financially. Read books, attend seminars, consciously damage your financial ignorance daily, begin to consciously save. Don’t save because you have excess, chose to have excess because you saved.
Note this: Idle money trumps squandered money.