Why Do You Deem Your Cashflow Too Small For Passive Income?
A lot of people do not like the concept of growth because they find it tasking, challenging, and too demanding, while this is relatively true, it's become even more emphatic, because of the external influence of the internet on quick wealth, short cuts, quick money and less emphasis on long-term, building or even hard work.
There was this fling I had a long while ago, she was into buying expensive clothes and eating expensive food, funding an expensive lifestyle from a rich ex-boyfriend while having no means of active or passive income.
Because of this, I suggested she started buying HBD for 10% APY
from whatever scrap of cash she could get while forgoing her expenditures on luxury goods or at least reducing it by 50%.
But is 50% half good or half bad?
In a nutshell, she found this rather difficult and ridiculous and insinuated that I was living a frugal life because of a future that wasn't certain.
But Is The Future Really Uncertain Or Are We Just Scared?
A lot of people fail to understand that the best way to survive in Nigeria is through passive income and the only way to organically do this is by building overtime especially when one does not have a huge cash flow.
One of the ways to survive, manage and thrive in scarcity is by living multi-minimally at the expense of comfort and luxury. It takes a lot of financial discipline to understand this.
A lot of people would prefer to maintain a wealthy lifestyle because it gives them external validation, some people even use this lifestyle to create an aura of fakery, especially on social media, but one thing they are most guilty of is always thinking that people who have managed to build a passive stream of income over the years are only "lucky and fortunate".
Lifestyle & Validation
However, this is wrong. These people they deem lucky have done so at the expense of their comfort, discipline, and great deprivation.
It's a difficult pill to swallow especially when we find it difficult to stomach the fact that some people had the same opportunity as us but they've done better over time.
In life, a lot of people do not know exactly when their financial status can fund their extravagant lifestyle, they rather do this from the active means of income, making it difficult for them to spare a little to grow another stream. It's difficult to create an applicable experience especially if all the experience a person has can only help them spend rather than invest.
Complimenting Financial Ideologies
A very interesting aspect of financial discipline that a lot of people do not pay attention to is the aspect of having a wife or a husband. It's imperative to always be with someone that compliments your good financial ideologies if not you might think that building wealth slowly or being disciplined is a waste of time or not necessary at all.
When I compared the life I was living to the one the lady I was talking about was living, it was obvious that I couldn't get into such a romantic relationship because I knew it'll ruin me.
Sometimes such relationships are uneducatedly tailored to mess up the essence of building. One of the reasons why people are given the same opportunity and some thrive while others fail is because of how creative some decided to be with the chances they were given.
To Ruin Or Build?
This is why getting into a romantic union might ruin or build a person financially. Now, some of the people we might deem to be rich are just people who you might have had the same opportunities with, and the only difference between you and them has been discipline and creativity.
Some people have mastered the art of multiplication with the little they have, while some are finding it difficult to do otherwise because of their mentality. It's important to be creative in the face of lack.
Sometimes we underestimate the resources we have and how far we can go because we naturally do not have that mental strength or capacity to wait for a long period of time to reap the fruit of our efforts. It's important to place necessity to the aspect of building slowly, establishing streams and being painstakingly detailing with the means we have at hand.
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I agree with you 110 %.
Nothing in our lives come out of the blue. We have planted its seed earlier and so we reap the harvest. Be it financial gain or misery, it involves our actions at some point of time.
I have seen people who only care for spending on luxuries and not saving at all. They have appearance of well off people but they don't even own a house.
Luck might matter but plans, efforts and strategies are the things that luck needs to be accompanied with. Luck is like a vehicle without fuel. To run it well, it needed to be fueled up well.
Passive income is important there is no doubt. The active income is affected negatively by inflation while the passive income is likely to be effected positively.
Lol. You have said it right about the effects of romantic relationship on your financial status. If any of the partner is extravagant, financial stability and progress is impossible
Thank you for this thoughtful insight. You managed to touch all the angles in this post and I'm totally awed. I personally can relate with active income being negatively affected by inflation and this is why we need to build a passive stream.
It's generally not easy. Building anything that can be passively sustainable is difficult, the effort, the awareness and work needs to hit the ground running.
In all ramifications of life I generally feel our physical energy shouldn't be proportional to how much we can make..
Thanks for coming through.
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The best way is to have fun while building your cash flow for the future. If the person you are with is not good at helping you in your quest, move on.
Hahaha that was precise and brief about relationships and money, it's difficult to make these decisions though.
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I agree but you don't want to be drained by a person who doesn't care to have a financial literacy.
Just talk to me directly on this👌
Talking about getting into a relationship and finance, some people can actually help you to build while some are known to ruin. It all depends on tbs kind of person you dealing with. I have seen a wise lady who came into the life of one guy and changed his financial narratives positively through positive ideas and tactics on spending minimally and still enjoy a comfortable life. But when the reverse is the case, you live in regret starting such a relationship while still building your finances.
Lastly, no matter how small our income flow is, building it gradually is wise for the future 👌
Thanks for sharing lovely tips always 💖💖❤💞
Thank you for your comments, some of the ladies you spoke about are painstakingly rare in the country. You have more relationships where people are more inclined to spend.
generally it is in our instinct to spend and live comfortably. Just by looking at the social media alone you will find out that there are more people who are trying to impress others with the financial status of their relationship and spouses.
This is why it is even more difficult to forestall discipline in the face of ostentatiousness.
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This above line strike a cord! There's so much within us and around us if put to work can get the best out of us for better outcome.
Ruin or build? It has to be one or the other, the moment we spot signs "ruin" while we are bent on building the immediate reaction should be a run for the hills.
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This is true. Sometimes the little we have can achieve so much if we put our managing skills and hack into perspective. I've learned that life can be built on little, we just need to make some really good decisions.
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Indulging in any business or investment that gives passive income is just the best for me.
Sometimes you what you have worked for months keep working for you even tho you left it for while
People who spend money extravagantly really got that Money without stress or given to them by someone and may not be valued.Imagine you staying hours thinking and trying to make up this wonderful post and then spend all your money on Dorime 😂😂
You're actually right when you imply that we are the value that our money eschews. I remembered working in a place for seven years and it was difficult for me to spend even a little of that money to take care of myself because the value I attached to the money seemed bigger than whatever need I might have.
Passive Income is great, I hope in the future, one can build on it. It's a way to go
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Sure, it is
Thank you for sharing this wonderful piece with us
It's tough but people need financial education. They need to understand that compound interest works wonders and that saving money for that investment is worth it. Too many people are just focused on what they want at that moment.
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It takes discipline to even save towards an investment prospect. I think more people needs more guts
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YOLO (You Only Live Once) is a mentality that births two types of people:
the ones determined to die as legends,
and the ones that choose to live in the now and leave the future in the hands of uncertainty.
The latter would rather spend what they have now (perhaps all of it) in the belief that tomorrow is uncertain, and they would rather not miss out on the goodies they can get now. They believe in "when we get to the bridge, we will cross it."
But what about when you get to the bridge and you do not find the bridge? What then, will you do to cross the great gap before you? Now this is what the former would rather avoid.
The former would not want to leave their fate in the hands of uncertainty. They would want to prepare for when the times get hard, because they will get hard some times.
A passive income is the best way to thrive in a country like Nigeria. Many understand this but fail to comprehend how to achieve this. This is due to their failure to implement the concept of building gradually.
A lot of people say things like, "If I see 10 million naira, I will just open this, start that, invest in this..." But the sad truth is, nobody is willing to just give you such an enormous amount of money. You can either "slowly build" or create an impeccable and realistic plan for establishing something that will LAST.
It is not a mandate that one must be in relationships that are fancy. Being in a relationship that is of no profit and of substantial value is of absolute no essence.
That relationship would have broken you little by little. And you might not even realize it until you're empty.
Having a partner that understands and shares your visions and aspirations, one that complements you, is key. It is only this type of person that can efficiently bring you to a point of high productivity in realizing your dreams.
Thank you for taking the time to write this. As for we Nigerians, we often will bask in the assumption that we might be blesed or gifted with a huge amount of money. And we imaginarily plan on how to spend or invest them. The reality is that just like you have said.... no one is willing to give one such a huge amount of money and the second thing is that there is one thing with planning for money that we haven't seen and another thing is planning for money that you have at hand... It's classic a "bird at hand" allusion. Plans changes when reality becomes realer.
As for a spouse, that have the same vision as you. Hmmmmm make I no talk. na only God dey protect person. Hahaha.
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A classic "bird in hand..." scenario. What we have now is far more valuable than what we will have in the future. So it is far better to be aware of this and deal with what is in one's arsenal for deployment.
😂
You're living the life you are now in order to have the life that you want later. Deferred pleasure. Almost all successful people have done this including billionaire Mark Cuban who ate mustard and ketchup sandwiches when he was struggling in order to have resources for investing. I believe you made the right choice as a high maintence person like that would have drained your savings, preventing you from fulfilling your dreams.
You're totally right when you call it Deferred pleasure. I think what we have sometimes is just a little too little to guarantee the grand life we always seek. Investing is a big thing. The future is huge, one of the things I feel I should do is to always try as much as possible to make it comfortable. I don't think anyone who is from humble beginnings hasn't tried deferred pleasure except they're not discipline and not conscious enough.
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Building require a lot of hard decision and discipline. To make our journey go fast we must choose people with same mentality and not people that is against our growth
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It's like you've said, we need people with the same mindset and mentality as ourselves.
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