One key lesson I’ve learned about finances is that blaming external factors does nothing to improve your financial situation—if anything, it makes it worse. When you shift the blame, you give yourself an excuse not to change. You convince yourself that you’re already doing your best, and that some external factor is the reason your efforts aren’t paying off—when in reality, that’s often not true.
In Africa, and particularly in Nigeria, a common scapegoat is the government. To be clear, I’m not defending poor governance or dismissing its impact. But the truth is, many of us don’t take personal responsibility for our finances. You’ll find people earning impressive incomes who still live paycheck to paycheck. Yes, the cost of living has surged dramatically in Nigeria. Prices have tripled. Still, there are individuals making life-changing money who remain stuck in financial instability—yet they put all the blame on the government. You’ll often hear: “The government is the reason I can’t manage my finances.”
This mindset is flawed. Many believe that more money will fix everything—but more money won’t solve poor financial habits.
When people argue that better government policies or a higher income would change their financial lives, I don’t entirely disagree. Better policies can create a more supportive environment, and more income can create more opportunities. However, the core issue for most people isn’t the government or their earnings—it’s their mindset and habits.
Even in countries with better systems and opportunities, there are people with no savings, deep in debt, and still living paycheck to paycheck. We’ve seen millionaires go bankrupt due to a lack of financial discipline. This isn’t about income levels—it’s about mentality.
If you can’t manage $25,000 a year, chances are you won’t manage $250,000 a year either. Many people adjust their lifestyle to match (or exceed) their income, with no savings or plans for the future. So when unexpected financial hardship strikes, they hit rock bottom. It’s not about how much you make—it’s about how well you manage what you have.
This mentality exists across income levels. Both the rich and the poor can suffer from poor financial management. The issue isn’t the government, the economy, or your paycheck—it’s your decisions.
If you’re not managing a small income wisely, a larger income won’t change that. We see this all the time—people blaming external circumstances, when the real problem lies within: no financial discipline, no long-term thinking, no future planning. Many are just one emergency away from financial collapse—not because of external forces, but because of consistently poor choices.
Thanks for reading.
