The Mentality Incurred From Being Poorly Exposed.
Personal Finance is something I deem to be very delicate, and it's often mistaken for financial literacy. I feel that it (personal finance) is a journey, one's modus operandi that's been built and influenced by one's financial background, while financial literacy is mastery, obtained in the art of owning, handling, and spending money.
Some people have the wrong opinion that a person has to be rich in other to have a decent or sophisticated personal finance journey, but this isn't true. The reason why it's called "personal" is because it is distinctive, unique, or original, it is how different every human being relate to money. Making money might seem simple on the surface.
I mean, there are people in some countries, all they need is to study an area of expertise or concentration in college and they get the right job without nepotistic hindrances or godfatherism. It simply means, there are systems where people are employed based on merits and not other underlying factors.
So this means that a functional system can increase the possibility of people becoming successful, meanwhile, there are systems where irrelevant issues such as bad government policies can deter people from being productive, building a career, becoming an entrepreneur or establishing a functional skillset that can be monetizable. Nigeria is such a system.
In reality, many Nigerians are brilliant people, but I've seen people from first and second-world countries who laugh at regular Nigerians for being broke, unemployed or poor. You see these people make the mistake of thinking poverty means redundancy. they even attribute this meager state of finance to laziness or lack of innovativeness.
Meanwhile, the average Nigerian has big ideas that are often trampled upon by the default system they find themselves. People who are in better systems often underrate the systems they're in. Because the system is good by default, it's difficult for them to imagine how hard life might be if these systems were not in place.
It's the same with the Nigerian system
People are used to unfairness and mediocrity as the new normal. So because of this, they battle every day to find loopholes in the bad system to thrive, sometimes, a large percentage of us fail while a smaller percentage succeeds, but the effort and innovation are not counted especially when there is a failure.
People who have failed are never applauded, externally, they're deemed to be lazy. Their state of finance is mocked, but their efforts and creative tendencies are never applauded, especially by people who are in better systems and cannot survive a day in a bad system.
There's always the confusion that wealthy people are always geniuses
....while people who aren't, are automatically naive and unproductive. Sometimes we often forget that the latter is responsible for building the wealth that's owned by the former. It's a mad world out there, but some people are completely ignorant of life's unfairness because they've never experienced it.
The truth is that experiencing diversity when it comes to systems and money is how people get to truly understand. However, there are human tendencies we cannot fault. Luck and exposure to limitless opportunities are some of them.
In Nigeria, luck and opportunity are used regularly, but sparingly experienced
but even in this diminutive nature, I've seen people who have thrived beyond all reasonable doubt. It thrills me when I see a Nigerian thriving in a terrible system, this is because, I often imagine how they'll perform in a better system, but sometimes, bad systems are what create tough people.
While it's true that better systems create innovative people, I do believe that some people have been forced to thrive because of the need to survive. So, I believe some people have a narrow mentality because their experiences are only streamlined to their financial environment. It's tougher for people in better systems to thrive in terrible systems but in the vice versa, it's hardly possible.
In Conclusion
When people fail in a bad system, automatically smearing their persona with failure is wrong, in Nigeria, Unforeseen Circumstances are bigger than foreseeable circumstances, some people fail because they didn't plan for things that are impossible to plan for. We have geniuses who have given up in life, not because they didn't try.
They're just tired of being constantly beaten by the system. I think how big our understanding is, is how vast our experiences can go. The world is an unfair place, but hopefully, in generations to come, these systems may improve. However, I'll continue to applaud people who are warriors and fighters in this degrading system.
Interested in some more of my works?
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A lot meaningfully said here.
This is wrong. Sometimes, we have seen people that were born with a silver spoon in their mouth, but they ended up messing up their finance life.
Did you know I took the Computer Literacy project first to government schools and they told me I have to follow protocol. Firts meet the State Education secretary (who you will never see at the office), write letter, this and that. My dear. I came back and knew it wont work. I went to Private schools and it was a boom. No letters, no issues.
Funnily enough, those poor students in government schools need this project than those in Private whose parents can afford computer training fees later. This is just one example.
Its now like culture here. Like, you dont expect Nepa to give you light 20 hours in a day, do you? Hahahaha.
You have said it all sir. Personal finance is even more obvious in a disjointed state like ours
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If I had not encountered people with this notion I wouldn't have believed it myself. There are people who associate being wealthy with being disciplined and hard-working, and it is often difficult for them to believe that somebody who is not even a rich could be financially disciplined to an extent.
I can understand you. The bureaucracy in government is just so alarming in Nigeria. Sometimes all this due process are to just frustrate you. We have actually known Nigeria to be a country that uses bureaucracy to deaden the goals of people. Inasmuch as it is not directly affecting them, they wouldn't care if the students needs it. This is why Nigerians go to other countries and actually prosper. The system is just too good to be true outside there.
So many people in better systems do not even know we are used to mediocrity. This is because Nigerians are creative and strong both mentally and physically, the terrible systems has actually made so many people who they are today.
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People here misunderstand many things about wealth and take up wrong notions. And some wealthy people too wrongly minimize your efforts because you are not at their level. These things are all too common.
Regarding the mediocrity we put up with in this environment, its just pathetic. I forgot to ask how you have managed this organized cash scarcity. Thats a present example of how our system was designed with all elements of frustration.
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As per the mediocrity, you know we cannot sanction the people at the top no matter how bad their leadership is. This country isn't built this way. Zenith bank is actually withholding my 7500 naira, I paid for good and look light and the person I sent it to hasn't gotten the alert for 2 days now. And I might not have electricity next week because of zenith bank. The cashless craze is driving people to beat up bankers in Lagos, it's absolutely crazy.
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They are still holding my 19,500 since July last year - Zenith bank. I stopped banking with them already.
I saw video of bankers going home through a ladder and fence to avoid the angry crowd outside. The cash scarcity continues.
If you have alternative to the light issue, that would be fine. You cant possibly stay without electricity.
When they say There is no place like home, i mean this is it.
I don't even have the resources or energy to open up another bank account with another bank. The rulers of this country are enjoying the wealth of the nation, while everywhere is burning.
Honestly. I had 2 banks. Am managing GTB. Although i added Fairmoney a Neobank. Its a bit better than what we have on ground.
I have gone through rough patches in my life and had to start from cero twice, planning for the impossible is usually seen as a pessimist person, its very different to be smart and to be wise, its because of all those beatings that life gave that now days I prefer to sometimes be a pessimist, we never stop learning and I know the feeling of getting nowhere but it also has to do sometimes with our psychological balance and the system doesnt help, I have lost faith on governments even though the country i live in is not doing so bad but still the corruption is so much that it feels hopeless, thx for sharing ✌️
I don't know the country you're from, but I can relate since people from bad systems can relate to bad systems. Stay strong.
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Nigeria is a country that makes everything so difficult and apart from the few who are exceptional and those who are rich, to make it in my country you must be extremely lucky also. The system is bad and you can not criticize the pain and struggles of people because you are to be in their position you might not last.
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Omo, I use to imagine how many people would have the fortitude to survive Nigeria, if not Nigerians, then who can? I don't even know again. Sometimes I dey look myself, na just Grace and oluwa.
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Thank you for this enlightenment. It's a spur to succeed in a face of unfavorable conditions
This country is now becoming a place where the poor continue to remain poor and the rich gets to become reach but still one should stick to the plan of getting better
No other ways to put it
Yeah,one should just hope that one day, it will be better
I think this is the basis for why most of us from West Africa are tougher and more resilient to harsh conditions when it comes to hustling. Because we need to hustle even if not for our own survival, but for the survival of people who we shoulder responsibility for. And thanks to our tougher “survival of the fittest” systems, we have adapted to unfair systems. We work our way up.
The mentality that poor people are lazy is harbored by people who think their wealth is a reward for their hard-work. And even though this makes sense to an extent, it is not exactly accurate as there are people working harder but still wallowing in stinking poverty. Luck still plays an important role in fortune. You can work 25 hours a day and still die poor if you’re not lucky enough.
Hahaha, a friend was telling me yesterday that so many people underrate luck in the success. They attribute everything to their hardwork, forgetting that sometimes all we do is prepare everything in readiness to get lucky. In life there are people who have failed but the truth is that it wasn't the laziness or lack of innovation of these people that make them fail, it was just that the right level of luck was not on their side. But then we can attribute ego to successful people thinking all their sucess was hardwork alone.
Just like you said. I think most Africans are born under the circumstances of struggle and hustle. And we continue on this path for a very long time unless something different actually changes along the way. As for people like us, I hope we get lucky and experience exponential change.
Lovely talk. Nigeria is like a barren land with to nutrients and water where wild grass is growing. I think that because you and I are too little to water it, we should encourage people to find a way to grow in this forest or else they are less likely to make it through. Times are about to get harder and there is no way to predict just how hard they will get...its very scary to think about sometimes.
Also nice Dragon PC, I use the same brand, nice for gaming, illustration and animation
Well, I think everyone has resorted to survival because even if we decided to individually change this country, some people's sabotaging attempts would just take us backwards. It's generally scary to think about survival in such a country as Nigeria.
Oh my flatmate owns the PC, I was the photographer, while he acted as my subject.
Somehow, I think those sabotaging make up the majority. We always say that our leaders are bad until we look critically at ourselves and point out the things that are allowing these bad leaders...I don't think much will change.
In Afghanistan, they stone women to death, I don't think the majority of people see it as wrong if not they would be a revolution against it that is strong enough to fight it. So in a way, leadership is an individual trait that lets tyrants lead.
I personally say that Nigeria is a country where by the gap is so much between the poor and the rich, the poor is always poor and the rich is always rich. Sometimes it varies, but at most times it is the logic.
Reading this post make me remember Burna boy’s song. monster you made .. this part to be precise.
I feel like if the developing or underdeveloped country I don’t even which one Nigeria fall to are given opportunity or are developed, there is a lot of things that motivates them. They are a lot of advantages.
Look at naija school system, it can be frustrating… in fact, it demotivates. People who are talented keep their talent aside and look for something to survive. It can be depressing, my sis is an example….
Even some online business.. there is a lot of online source of income in which our country is not included.
The rich kid might go astray and squandered his father money but it is on a rare case that they will not still be rich prolly through their father life time investment or through embezzlement. But the poor will rarely become rich in this country because the poor aren’t given privileges.
The rich will always put the rich first, put them in a big position, even if they don’t deserve it. The rich will leave the crumbs for the poor to fight and kill over.
In all these stated, it is only rare in the vice versa case.
I think I tend to agree with you. The gulf between the rich and poor is just so huge it is often difficult to know who is average and who is doing well and who isn't. It's always the extremely poor and the rich. The average people's percentage is so little, because the opportunities to bridge the divide is just so small.
Anyone depending on certificate these days to survive is making a huge mistake, unless they have the money to further the education and leave the country
I know people who works on Fiverr. But because they have Nigerian accounts, it's impossible to get the right gig, until they changed to a US account. So basically everything seem to create frustration. The precedents lefts by fraudsters and yahoo boys has affected almost every young person and it's just so crazy.
In reality, you need to be rich to actually be rich, in Nigeria, starting from ground zero doesn't grant you any advantages. We're truly putting up with a lot, and bad governance seems to crown it all.
The world is definitely an unfair place and things don't always go the way you expect them to. People have to definitely figure out how to adapt to unforeseen consequences and move on. It's tough but I think those unforeseen events are good learning experiences and you can try to make sure you don't do them again in the future.
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Yeah, Unforeseen events tends to help cultivate the spirit or potentials of preparedness. However, we cannot deny the fact that there are some experiences that completely takes us unaware, but it's life, it's an unfair place and we have no choice but to keep going.
Financial literacy is indeed an important aspect of personal finance, but it's only one piece of the puzzle. Personal finance is a dynamic and ongoing process that requires discipline, planning, and the ability to adapt to changing circumstances.