THE NEED TO CURTAIL CONSUMPTION EXPENDITURE

There is a former Local Government Chairman in my town today that goes in tattered clothes, his health has gone so bad and everyday he goes to the Council Secretariat to beg the people who were taking instructions and commands from him two years ago for a loan. When he was a Local Government Chairman, his office was protected by policemen and hired tugs. To see him you needed to bribe the PA to the PA who knows the secretary that can carry your visitor’s form to the Police guard or CHIEF DETAIL who must also be settled before your visitor’s form leaves his table. His private residence was a military zone and the ordinary people who came near him were treated as mosquitoes.

Even his gateman would let you know that he (the gateman) was a king in his own right. He would sound his siren even when he was returning home from a so-called caucus meeting at 3am and took pride in jumping the queue at the airport lounge just to announce his presence. He never had any money for his own family members when his extended family members could struggle to see him at a public function after ‘settling’ his chain of PAs. He would rather take pride in announcing a donation at church gathering if he sees that there are influential politicians and popular pastors whom he would like to impress.

Today, he resembles somebody who has never seen money before. To shave his face he finds a way to buy razor from his regular supermarket on credit. The car he bought is beginning to grow some green plants and the wheels of the once untouchable Peugeot 406 are now completely buried into the soil. The car is becoming an eye sour. Yesterday wanted the secretary to the council to give him a job to supply diesel to the secretariat – the same job that he could not pay the people who were doing it while he was the boss. If it rains he hangs around for the Head of Personnel to give him a lift – the same person whose calls he could only pick if he needed the guy’s signature on a cheque.

When the  Treasurer of the council was tired of helping him, he offered to lobby the chairman of the local government service commission to give his former boss a job in the civil service. The discussion went well until they needed to decide what grade level to start the ex-chairman with. ‘With your attempted first school leaving certificate, we shall start you at level 4.’ And how much is the salary at that level? Well …we shall start you at N19,300 per month. When he was a chairman, he had N40million monthly and no one was interested in auditing him. Then he attempted paying his way into the state house of assembly and all those who could not see him before the election time now had opportunity to get what they wanted. They collected his money and voted his opponent to keep him out of any other public office.

 

How many retired people are staying at home and getting pensions that cannot pay their rents? How many retired permanent secretaries are still able to maintain the three cars they were using while in service? What about the millions of others who are not lucky to work for the government, who would never smell the odour of pension?

 

When you consider that N1,000 after your retirement may not buy you what N200 could buy when you are still young and the fact that you will not kill yourself if God allows you to live up to the age of 90, you will begin to take saving and investing a bit more seriously. We are not telling you to spend less in order to give us the balance. We want you to spend less on wasteful consumption in other to enjoy the money for a longer time. We are telling you that investment is synonymous with sacrifice. You need to make some sacrifices today to afford a sustainable long term comforts and luxuries tomorrow.

AS FAR AS BECOMING FINANCIALLY INDEPENDENT IS CONCERNED, IT IS NOT SO MUCH ABOUT HOW MUCH YOU MAKE OR HOW MUCH YOU INHERIT OR HOW MUCH YOU START OUT WITH. IT IS MORE ABOUT HOW MUCH YOU DO NOT SPEND, HOW MUCH YOU DO NOT LOSE AND HOW FAST YOU CAN GROW YOUR SAVINGS AND INVESTMENTS. YOU CAN BE THE HIGHEST PAID EXECUTIVE IN THE WORLD BUT YOUR LIFESTYLE AND EXPENSES CAN SEND THAT MONEY OUT OF YOUR LIFE WITHIN A FEW WEEKS. YET THE ONLY MONEY YOU CAN INVEST IS THE ONE YOU HAVE SAVED (OR THE ONE SOMEONE ELSE HAD SAVED). AND THE ONLY MONEY YOU CAN SAVE IS THE ONE YOU DID NOT SPEND. WHY THEN DO MOST PEOPLE NOT CONTROL THEIR EXPENSES?

KEEP READING AND LISTENING TO SPEND LESS, EARN MORE. THE COMMITMENT TO FIND ANSWERS!