I recall a conversation I had with a friend who, despite earning a decent salary of 500,000 naira in 2017, was struggling to make ends meet. I asked him what he did with his salary, and he told me that he spent it all on expenses, liabilities, and indulgences.
I then asked him, “If your salary is 500,000 naira, shouldn’t your money be making more than that for you?” He looked puzzled, and that’s when it hit me – many of us are not using our money to its full potential.
The truth is, I’ve never seen a wealthy person who became wealthy with only a salary. The wealthy individuals we admire today didn’t get there with just one source of income. They invested, they took risks, and they put their money to work.
As the renowned investor, Warren Buffett, once said, “Do not save what is left after spending, but spend what is left after saving.” These words echo the importance of making our money work for us, rather than just working for money.
So, how can you start making your money work for you? It begins with a mindset shift. You must start seeing yourself as an investor, rather than just an earner. You must start thinking about how you can put your money to work, rather than just spending it.
Investing is not just for the wealthy; it’s for anyone who wants to build wealth. Whether it’s through stocks, real estate, or a small business, investing can help you grow your wealth over time.
As you embark on this journey, remember that making your money work for you is a marathon, not a sprint. It requires patience, discipline, and a willingness to learn.
So, I’ll leave you with the same question I asked my friend: Is your money working for you?
featured image by Chris Goodwin
