Nigerian music executive and producer Don Jazzy has revealed why Nigerian youths go broke after making a lot of money
He attributed it to bad money habits, youth spending culture, and the non-importance of long-term financial planning on their part.
He warned that a major reason many young Nigerians go broke after making significant money is because they tend to spend on things he described as unnecessary and unneeded.
In his words, he said:
“The reason Nigerian youths go broke after making a lot of money is because they spend on irrelevant things and things they don’t need. I’ve been blessed enough for a long time to be able to afford any car that I want or even to buy a private jet or whatever but I have more important things to take care of, I have family to take care of… I’d rather invest in other things. There’s nothing that beats investment, including investing in your own self, including going to acquire knowledge of something you can charge people for. Even the Forex I’m learning now, I’m investing in myself”.
Overall, his message centered on discipline with money, stressing that wealth is better preserved and grown through investment rather than excessive spending.
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Truth…Investment is the key