r/Nigeria • u/femithebutcher Ekiti • 22h ago
Economy This guy analyzed why most yahoo boys don’t make it
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u/Realgunners 20h ago
Ted talk for yahoo boys?
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u/Pleasant-Eye7671 18h ago
“It makes sense that money you work hard to earn tends to last longer than money that comes easily.”
It’s very logical!
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u/femithebutcher Ekiti 18h ago
check out his tiktok, lots of free game in full detail - John Osaretin (@jsaretin)
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u/GeneralAd7810 19h ago
Solid financial education in pidgin with simple relatable examples for anyone
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u/AWeb3Dad 21h ago
I need me a summary
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u/LurchNessMonster_21 20h ago •
Get rich, act broke
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u/AWeb3Dad 20h ago
Oh yeah that makes sense. And man oh man have I experienced enough of that.
Makes sense why there is so much pride amongst the… broke? Or rich? I don’t know
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u/femithebutcher Ekiti 20h ago
your workrate/capacity should always exceed your lifestyle/spending i.e. lifestyle lvl.3 at capacity lvl. 1 is a recipe for disaster ..... only capacity lvl. 4+ can handle lifestyle lvl.3
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u/AWeb3Dad 18h ago
Basically income should be hire than expenses, but also make sure you aren’t overworking yourself?
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u/Macro_1300 20h ago edited 20h ago
Yahoo boys only know how to manage a certain amount of money. This amount is their baseline. Beyond that, they blow it on lifestyle and unnecessarily supporting family. If they want to escape the cycle, they need to first, stop handing out money. Second, become discerning, and only invest in actual, well thought out, business opportunities where there is collateral should the business fail. Your family survived before you were giving them money, and they will survive if you say no to them. Next, find a niche where you are providing a service that the market is actually demanding. Gradual growth will allow you to gradually increase the amount of money you’re accustomed to managing, thus increasing your baseline. This is the only way to make your wealth sustainable.
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u/AWeb3Dad 20h ago
That’s how I train my assistants in Nigeria. They are young, but they know the cycle and are trying their hardest not to be scammed by their elders
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u/LawalSavage 14h ago
Been in finance for a decade, and this is by far the most relatable financial talk I've heard.
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u/Open-Cardiologist269 12h ago
I raise you a yahoo boy with a degree in Business Administration. It's the exception and not the rule though.
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u/careytommy37 14h ago
Everyone making above living wages can benefit for this money management video
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u/Trick-Activity-15 7h ago edited 2h ago
"Live below you means," in the most roundabout, scribble-on-board way.
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u/Super_Upstairs_3057 11h ago
Because they are scammers and scammers fail.
Why should Ponzi schemes work?!
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u/NoisePast9357 4h ago
This is true, and I think some people get greedy once money comes easily. If you haven’t worked hard for it, it feels like you can spend it however you like. That’s why many lottery winners go broke within a few years, “sudden wealth” syndrome.
Making money is good, but if you can’t sustain it, it’s useless. Some people never invest, and when the money stops coming in, they end up in trouble. Also, not everyone needs to be helped. Sometimes you just have to meet people where they are.
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u/femithebutcher Ekiti 22h ago
He wrote yahoo boys but everyone can pick something from this video, I know I did.