By Bayo Ogunmupe
For things you never spend your time and money on, every decision you
make about them affects your future. Money and time you have if you are
reading this piece. And for reading this, you sure like to get money
and know how to hustle for extra cash by working side gigs or
negotiating for higher pay. But just like you cannot outrun a bad diet
when it comes to your physical health; you can't outearn poor spending
habits when it comes to your financial health. With the foregoing, here
are things you should never waste your money or time on. The first is
stroking your vanity by keeping up with others. Never use money you
haven't earned to buy things you don't need in order to impress people
you don't like. This boils down to a concept of fairness in our minds.
My parents had this when they were my age, why shouldn't I? That guy
makes about the same bucks as I do- how come he gets to ride around in
that car? In both cases there are a lot of unseen factors at play- one
of which is often indebtedness that the flashy car is designed to hide. A
local business economist addressed my class while I was in high school;
he said something that stuck with me ever since. Paraphrasing his
speech, he said as follows: Wealthy people don't look like you think
they do. You see someone in designer clothes, driving around in a brand
new sports utility vehicle and you think they must be loaded with money.
Yes, loaded to the hilt with debt. Never pay attention to the glitter.
If you sat in the lobby of my office; you will be shocked at the number
of millionaire clients I have who drive up in farm trucks; ten year old
sedans and walk in overalls or plain t-shirt and jeans. You will have
to choose in life whether you are more interested in people thinking you
have money or that you are actually a moneybag.
Discount other people's perceptions, because you will never know when
the door having access to resources will open for you. So, financing
your laziness is another pitfall to great success. There is a pie slice
of the economy that is focused solely on taxing laziness. You don't
believe me? Well what is an Automatic Teller Machine (ATM) fee if not a
tax on someone too lazy to ensure they have adequate cash on hand? What
is late fee if not a tax on someone too lazy to keep their due dates in
mind? What is an overdraft fee if not a tax on someone too lazy to keep
tabs on their checking accounts? I understand that challenges crop up
sometimes, but for some people these charges have become a regular
fixture of their cash flow or budget but they wouldn't be paying them if
they actually had a budget. Don't pay people unless you have money for
the privilege of being oblivious. Plan ahead and make sure you are not
being taxed for not having foresight.
Three,
acquiring things you don't use is another thing you should spend
neither time nor money on. Think about the clutter around you. And how
much of your living room, your closet, your garage consists of stuff
that you didn't actually need? But you bought them any way because they
were on sale, or that you must have just in case because you got
persuaded by an advertisement or sales pitch? They are all sapping your
resources and how much time you wasted messing with it all? Indeed, the
clutter isn't just physical. Like ethnic cleansing going on on the
Plateau, the prairies of Kaduna and the meadows of the Benue; it
wouldn't be until you need to clean the house that the unwanted refuse
become suffocating. Only then you must figure out what needs to go. You
wouldn't let anyone sit in your house without providing you any value;
why not let them do it remotely?
Finally,
buying things that cost you both time and money beyond their value.
Buying those free games or app on your phone, by so doing you are paying
someone else to sap your attention for no material benefit. You are
giving them money in order to turn around. You are giving them your time
and attention- the most precious commodities you own. Most of our
concept of deserving found their roots in advertising campaigns where
you see the extended Jones family on vacation, or driving a new car or
wearing some gaudy bauble or another. reject that notion, live within yo
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