When it comes to finance, there is no one formula for success. As the popular Nigerian slang goes, "there is no formula to success, just do what you know." This is especially true for advising people on how to spend and invest their money. With different opportunities, goals, incomes, environments, and regions, everyone's financial situation is unique and requires a personalized approach.
Financial decisions can vary greatly based on individual circumstances, making it difficult to judge someone's choices without understanding their situation. Factors such as income, opportunities, and even region can all play a role in our financial decision-making. For example, in Nigeria, house rent is often paid yearly, while in other countries it is paid monthly. Additionally, differences in tax rates between regions can further complicate financial decisions. Ultimately, what may seem foolish in one part of the world could be a smart choice in another.
We judge but no one is really crazy
Our motivation plays a significant role in the financial decisions we make. For some, the goal is simply to achieve financial independence and avoid dependence on others when it comes to finances. The desire for freedom drives them, and they are not necessarily seeking fame or extreme wealth. Rather, they want to live a life where they have the means to buy what they want, when they want, and have control over their time without being obligated to anyone. Additionally, they want to provide for their family without unnecessary stress.
We have some people who want to be like Elon Musk and want to be so rich that they can feed a whole country, they want to be famous and be wealthy beyond the imagination of any man, and this is understandable simply because that is what they want, and that's their motivation. when you compare somebody who wants to be financially independent and somebody who wants to have it all, their goal and how they decide will be different. Someone who is chasing to be financially independent will see who has the desire to become more crazy.
Do what works best for you
While there is no universal way to become rich or successful, there are certain strategies that have proven to be effective for many successful individuals. Savings is one such strategy that can help to build wealth over time. It is important to be mindful of how you use your money, as not all expenses are necessary or beneficial in the long run. Investing is also a key component of building wealth, but it is important to make informed decisions based on your individual financial situation and goals. Ultimately, what works for one person may not work for another, so it is important to be open to different strategies and approaches.
It's important to take risks, but not ones that will completely wipe you out. Remember to do what makes you happy and what works for you, as long as it makes you happy. Don't let anyone pressure you into doing something that makes you uncomfortable or keeps you up at night. Ultimately, we must do what works for us without being influenced by external forces. Our financial life is unique and no one is really crazy
Thanks for your time.
