Skip to main content

To Save or Splurge: The Millenial's Dilemma, a piece by Olamide Oseni



Being a millennial myself, I know the conflict that exists between two contradicting kinds of lifestyle.
On one hand, we want to flex, have fun and live life, after all ,Y.O.L.O (you only live once) then on the other hand, a voice keeps whispering to us the need for frugality and the need to make smart money decisions.

One folly of being young is the future always seems so far far away, we really can't be bothered about what happens 10, 15 years from now...that seems a long time into the future as we are concerned. We want to live young, wild and free...free of burdens and responsibilities, we want to emulate the way our favorite celebrities live and that is nothing short of foolhardy considering that the glamour and the fancy lifestyle they lead is what they are being paid money for.

I remember wanting to grow up so much as a kid, I remember resenting the way I got talked down to by adults and how I always craved my independence and I dare say I wasn't the only one who felt like that. Now that I am an adult, I have come to recognize that what really makes you an adult is responsibility, nothing else. You alone are responsible for the choices you make (smart or stupid), no one else is going to shoulder that responsibility for you, no one, and that includes the decisions you make with the money you earn.

We live in a world where money matters a lot and while not solely the cause of happiness, having money opens up the choices you can make as regards your own happiness, having money makes you independent, free to make your own choices and live the kind of life you want.

So I would like to ask you, are you making the smart choices as regards your finances? common sense dictates that you can't have much of what you don't keep. Millionaires are millionaires not because they made millions of money (yes, that too) but because they spend less than what they earn and make smart money moves with the rest of their finances, and it starts from somewhere, you don't have to be a millionaire to start making moves like one.

When it comes down to it, the ball is in your court and the choice is yours to make, live fly today and blow all the money you earn on a whim or in a bid to compete with the lifestyles of people who make way more money than you do or make the smart choices correlating to the level of your finances.
Any which way, the choice is up to you.

P.S: The smart choice is to save and invest in viable ventures.

Popular posts from this blog

The 80/20 rule: Apply it to your finances and change your life, by Olamide Oseni.

A couple of hundred years back, an Italian economist by the name of Vilfredo Pareto discovered something really really interesting that was going to change how we understand the world. He discovered that he could measure the relationship between cause and effect precisely in mathematical terms (80/20). I know that probably sounds a bit mystifying and confusing, it was for me too, so to break it down further what he discovered was that 80% of results come from 20% of efforts. You are probably as shocked about this and if you are honest a bit doubting too. What this means for you is that: - 80% of the money you make comes from 20% of the time and effort you put in. - 80% of your products are the ones bringing in 20% of the money you make. - 80% of your customers bring in 20% of your income. And it also applies to everyday life too: - 80% of the world's wealth is in the hands of around 20% of the world's population. You probably wear 20% of your clothes 80% of the ...
Read more

How to detect ponzi schemes, a piece by Olamide Oseni

Borrowing from Peter to pay Paul is literally one of the oldest fraud tricks in the book, and it’s alarming that people still fall prey to schemes such as this especially in the wake of one such dubious schemes that has invested participants looming on the precipice of disaster. These schemes are no new trend in the Nigerian environment but it’s still alarming how people fall for them, it would have been funny if it wasn’t a matter of such serious concern, space a couple of years between these things and the story remains the same, people rush, invest their money and inevitably a sizeable number of them got swindled. The term ‘ponzi’ can be traced back to US Italian immigrant, Carlo Charles Ponzi who pulled off one of the biggest investment scams in history that had people losing as much as millions of dollars, and this was as far back as the 1920’s. Following the pattern laid back by the progenitor of such scams, Ponzi/pyramid schemes promise an unusually high returns...
Read more

WAVE POVERTY TO EXTINCTION (By Oyedamola Taiwo) For F&K Savings.

WAVE POVERTY TO EXTINCTION Sit, let's have a round table discussion. There are billions of people in the world; each have one thing in common, the desire to live a better life. The desire, however, is not strong enough to shield over 700 million people from poverty. Desire is cheap as much as talk is cheap. A desire not sponsored by action is as good as no desire at all. Wealth making is closely attached to value exchange. A value exchange requires communication. The quality of the process of communicating value determines the extent of wealth you get in exchange for your value. Have you sat to ponder on the reason for the difference in the amount paid for the exact same service rendered in two different places? Well, I have, the fashion designer you crave for and the one down your street offer the same service but communicate it differently. You see a well packaged,photographed product on the social media and love it, let the same product be sold by a guy down the street i...
Read more