Personal Finance lessons i wish i learned in school

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        It's not every money that comes into your hands that is meant for spending. Some are meant to be used to get more funds, others are to be used to service and maintain the existing funds, while some are there to represent you outside.

      During my growing-up days, once I was given money, the first thing that came to mind was, What do I want to buy? I unconsciously built a presence of spending money after it comes. As time unveils, I noticed I could not get a hold of myself if I see money, I will be restless until I ensure every dime in me is spent.

This ate deep into the very fabric of my finances. Whoosh, no progress seen;  instead,  a lot went wrong.

As crazy as this sounds, I felt I was attacked. because one minute I am on funds, and the next minute I am broke. so sad. Anyone in my shoes will understand this transition phase. it is always faster. 

This doubled my strategies on making more money because I felt the amounts weren't big enough. This right here was what I used to console myself until I was able to crack the code. Here are the secrets to getting it right in your personal finances


1. You are not living to impress anyone.  Always carry your budget along.

    If budget were a person, I'm sure it would have taken some of us to court. sounds funny, right? but to them, they are tired of constantly being neglected by our selfish desires of the now. 

Your budget should not be getting surprise packages when it comes to the execution of finances.

Apply the 50/30/20 rule. This is what it means

50% - Needs

30% -Wants

20% - savings & debt repayment ( if any)


50% -Needs  . This segment of your finances covers your essentials, like basic things for survival or running costs. e.g., daily consumables,  transportation to work, etc. This should be tailored to suit your consumables. it is seen to be the largest because it carries the weight of survival.

30% - Needs. This segment covers the area of pleasure with a budget. The reason for this is; your mind needs to be relaxed and strong to face challenges. so, a good atmosphere for it will be needed.

20% - Savings &debt repayment. Concepts like emergency funds can replace debt repayment if you don't have debts to clear. 


2. Loans aren't free money

Today in Nigeria, the micro Loan industry has experienced a huge growth in the market compared to the last 5years. This tremendous growth also has some hidden challenges tailored to the loan agencies in their operations.

They are suffering and struggling to stay relevant due to the issues surrounding them.  After my research, I could pick one fundamental issue, which spreads like wildfire, and is seen to be the major cause of the industry's decline. 

This issue is attributed to Behavioral patterns of Nigerians as regards money.

Sample A ; Most Nigerians get microloans just to survive. Worse of it all, 65 to 70% of them are dependent students, while others aren't even working. 

how do they intend to pay back these Loans with interest?

Sample B: Most Loan agencies make the process of getting a Loan simple and less stressful( which is very ok), but increase the interest rate, and short duration of repayment. How do clients fit in?

   The summary of this is: DON'T COLLECT LOANS WHEN YOU KNOW YOU CAN'T AFFORD TO PAY BACK. Loans are not government incentives. Micro loan agencies are not charity centers. its a business. 

You just need to cut off the Habit of borrowing. it takes the lion's share of the result of your labor.

If I had known this a long time ago, I would have been more careful. 

I am not saying Loan is bad, but let it be a rescue net, a last option to bring you closer to your massive funds. if the loan is not capable of giving you 2x the actual loan amount, it's not advisable to get it. I have an eBook on ''The metrics of 10x wealth'' here. I exposed some logical facts about wealth and created tools to fix them.

LESSONS

* You can never satisfy a want. stop wasting your energy trying.

* If you don't have plans for your personal finances, others will.

* Financial intelligence is not mixed with emotions; they can't survive each other.

* The small funds are actually the main key players. Don't neglect them. their results are not seen now, but later.

* What you refuse to do now, you may pay double or never do it.

* Your mind is the logical seat of reasoning. Fund it first with an abundant mindset, before reaching out to other areas.

* What you fail to write during spending, will write you off during accountability.


Your personal finance is your life wire. take care of it.




follow for more insightful tips, as I look forward to seeing you at the top.

 you can reach out for professional help on personal finance, organizational finance growth, and other financial planning/target setting. 

Feel free to comment, and share to all your platforms, you don't know who you might be saving with this post.



written by

 LogicPilot










Comments

  1. Timothy UdomJune 27, 2025 at 10:47 PM

    This was such a powerful and eye-opening read. I could relate so much to the part about feeling "attacked" when money disappears faster than it comes. That emotional spending cycle is real. The 50/30/20 rule and the warning about loans were spot on especially in a country where instant loans are so accessible yet so draining. Thank you for breaking it down so simply and practically. Everyone should read this. Definitely following for more gems.

    ReplyDelete
    Replies
    1. LogicPilotJune 28, 2025 at 1:29 AM

      Many thanks for the follow.
      Have you seen the latest one?
      Trust me, its mind blowing

      https://logicpilot.blogspot.com/2025/06/dear-future-me-i-hope-youre-not-tired.html

      Delete
  2. amazing write up BroJune 28, 2025 at 6:30 AM

    Amazing write up bro.

    ReplyDelete

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