The Road to Poverty….. IDEDE Oseyande
“The poor brag about their spending prowess, while the rich brag about their savings and investments portfolio. Therein lies the difference between the rich and the poor”.
It was on a Monday, the 21st day of May, 2018 at a motor park that I saw for the first time, someone owing debts, not for food, drugs, nor for clothes, but for gambling.
All these while, I used to think gamblers get broke after losing their money in gambling, and then go borrowing money to buy food and other basic needs. It never occurred to me that someone could actually gamble with money he was yet to make.
As early as 6:40 am, the lady that runs a gambling outlet, locally known as “baba ijebu”, came to the park to meet the guy issuing tickets to passengers at a commercial park. At first, they both spoke in hushed tones until the lady could no longer take the attitude the guy was giving her. So, she raised her voice. Before we knew what was happening, she had grabbed his shirt.
Details I later gathered showed that this young man was owing over seven thousand Naira for gambling alone. I had to share this story because of what he kept saying.
*”Is it because I am owing you 7k that you are embarrassing me? Do you know how much I spend in a week?”*
That statement reminded me of a former colleague of mine that used to brag about the cost of food he eats. When reprimanded by our site manager at that time, he was fond of saying; *”how much do you pay me? I spend more than the ‘change’ you give me as salary”.*
All the efforts I made back then, to let him understand the secrets of getting financial freedom is by saving and not spending, were abortive.
If you are like those that think being a great spender is what it takes to be rich, you better have a rethink. It will only make you work all your life, with no spare money to invest or retire on.
Forbes list rate rich people by how much they are worth in savings and investment, not how much they spend.
Big spenders might just be spending borrowed money!
You want to grow your income but don’t know how? Ask me!