How To Save Money On Low Income & Build Wealth
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- Опубліковано 8 лип 2024
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In this video, I shared tips on saving money, why some people don't save money, and why you must save money to get out of the rat race or build wealth.
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Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result hard work and hustle over time. I pray that anyone who reads this will be successful in life
You are right Sir
Most people don't invest due to ignorance
Speaking of Investing, forex trading is the best business in the world right now I know a couple of friends that make a lot money weekly trading with the financial markets
People are scared of Investing because of high rate scammers on the market
But of a truth there are scammers but real brokers are out there too waiting for investors
Summary.
1. Pay yourself
-> Keep aside an amount of money that is worth your work effort. Do not use it for any other purpose (Just save it)
2. Setup a means of passive income
-> Get a taxi and hire someone who gives you an amount monthly or build a house and get monthly rents from tenants or any form of investment
3. Stop trying to look rich (you'll eventually get there if you save wisely)
4. Make sacrifices and live on the barest minimum required for you to survive.
5. Read books that teach on building wealth like "The richest man in Babylon"
Apparently this is the best video I saw this year.
Savings has been part of my life since childhood. It was like a dream when my savings grew up to #4million naira... It sound so crazy because I am from a poor background. Now, I am in Germany, I am still saving and investing in anything good
wow
Uhn!
This is interesting. Thank you
For the people who dont live at their mama's house and on a low income
1) try to save 20% of your monthly income...in a year it add up
2) invest in stocks...Money will work for you...Again it adds up
3) Stop buying unecessary items ( clothes, shoes and buy store brand makeup... shampoos ....) you might save over 500$ or more
4) spend less in groceries...Buy less meat...Not saying being vegetarian but buy less meat...Meat is expensive...Cut back on snacks
5) Quite smoking, stop drinking alcohol and stop smoking weed
6) have an emergency fund
7) Learn to do your own hair and nails
8)Make sure you pay your bills each month...You miss a payment debt and money problems will accumulate
9) Dont buy the latest phone
10) cut the cable
11) stop eating out...Learn to cook
May God bless the womb that gave birth to you and trained you.......I love all your programs 👌💯👏👏 more strength 💪💕💕💕✌️
You're more than some Pastor's who can not even help their members to succeed in future only to dry their pockets, your wonderful, I love this program . PAY YOUR SELF First.
"paying tithe alone will not make you financially free" I wish I can like this video 100x for this truth. Thanks for this video......keep up the good work
"If you die, they will survive."
You just told me something Adeola.
For real, they will. We need financial literacy to manage our money. Watch this video as well ua-cam.com/video/2zh2XZMWL3I/v-deo.html
I'm watching this from Abu-dhabi and it hasn't been rosy I must confess. low salaries and so on. But with this video you have motivated me to save and invest more than spending on Amazon and apple
Also those who are cheating on their spouses should know it cost money and should instead focus and save that money
Truth spoken plainly: norm society life cycle, be born, go to school, get good grades, get a job and repeat cycle. They forget to teach us the life lessons in schools. Some people get booksmart yet not smart in livelihood.
"Before you help people,first of all help yourself"..Thank you dear.
Thanks sister Adeola. Tips that worked for me: No new clothes or shoes, no going to the salon to do hair or nails, no eating out, take a taxi instead of driving to work. Do this for one year and MAKE SURE YOU SAVE ALL THE MONEY YOU WERE SUPPOSED TO USE ON THESE. It works so so well!
Grow your own FOOD..
I am self employed and i do practice thid principle. I learnt it from my mum, who was also self -employed before she retired. I also worked with her during my secondary school holidays and got paid.
You are wise. Many self employed people are so full of excuses. You are a positive light
I've been your fan since day one and what I notice about you is that you are not misleading. Thanks for the word of encouragement 🤜🏾
It's like you were talking to me directly throughout the entire video! You are truly a blessing to our generation. All you said are 100% practical and made a lot of sense.
Thank you Adeola. I never knew, I have to pay myself. As from this March, I must start Paying myself into a Savings Account. I take care of everyone, except myself! God Bless you my daughter.
Don't let bank fees, eat your savings. Banks are very much aware of these kinds of discussions and make innumerable rules to ensure that one can no longer "get rich over time" from savings in the bank.
So start saving in the bank, but actively look for and learn solid strategies to further the earning capability of your savings.
Honestly Adeola, this video you made is the BEST video I have watched so far on UA-cam regarding saving money. Thanks a lot.
For the very first time of six years of working this year am saving, not that much but u just made me realize I spend on frivolous things that I don't really need and will stop to save more
That's one of my favorite book. Won't get tired reading it over and again. BLESS YOU SIS
Thank you for this insight.
I've been making money by myself for the past 1 year now and I discovered I don't have any savings and nothing to show for.
I will try as much as possible to always pay myself first before any other things.
Adeola thank you for using all you've got to bless people. Expecially for this short and well-balanced video on how to live above poverty line into wealth. Timely video at that, may God continue to keep and honor you.
Adeola, I must confess I love how you have been making an impact in the lives of your viewers. For anyone to be rich, he or she must be highly and financially disciplined. One must live on a budget and with exception to a personal emergency, the budget must not be exceeded. Helping the needy and all other expenses must be built into the budget and on no account must the budget be exceeded.
This is the most important "FINANCIAL" advice ever in history, treat with all diligence. This will give you the "Success" you have always imagined in life and much more. Thank you Adeola Fayehun for taking your time to portray this truth. You are doing a good job. May God bless you richly.
wow, i dont even need too much talk. i want to come back here in 1 year and give a testimony. God please keep me and auntie Adeola alive. Amen thank you ma.
Thank you so much
You are speaking directly to me, I have worked 1 year and 3month now and I have nothing in my account I even borrow money to end each month is as if is a cause
Long live Adeola! I enjoy listening to her opinion and miscellaneous updates. It is important to learn how to save money. Long live the both of you!
I literally just watched a 20 minute Ad after this video call Charity Water....feeling truly grateful and blessed.
Since I ever started working, I have been putting a percentage of my income into savings oooo. This advice is key. You are avn amazing woman.
Great topic ma'am. I believe we need to stop trying to impress people by not bowing to outside pressure and pretending to be what we are not.
Thank you aunty Adéọlá. You have been a blessing to me since I started watching your videos since 2017, but I'm yet to say this. I shall try this principle: paying myself first.
May God continue to strengthen you.
Adeola I have listened to this video more than 3times already... I thought you are talking to me indectively.if I should heard these messages 15yrs ago I shouldn't have been where I'm today..thank you once again.
This is a great idea... I have learnt to " pay myself first "
Is not about working hard,is all about working smart
In fact I have been following your advice it has been a blessing to me I am a Ghanaian but I always stick to your advice you have to adopt the habit of saving it will help you in the near future God bless you my dear sister
You are totally on point, this book was gifted to me by a friend and I think it's the best thing I have ever gotten from a friend
Financial freedom is very important many people are living beyond their means. I am impressed that you are talking about financial independence. We need to invest and improve our incomes.
I also strongly recommend a book titled Rich Dad, Poor Dad. If you haven’t read it, please do. This book changed my life. If you can’t afford a new one, get a used one or borrow from the library. Thank me later.
I'm so blessed by your words. More power to your elbow
God job Adeola! I love the fact you share those stuff people don’t speak about. Been watching since you started. Big hugs and kudos!
Timeless TRUTH!
Wow im so bless to be one of your follower. This is really for me I have been working for the past years but can't show any things for it, always want to help people especially I'm the only one for now help my mother and sisters. Thanks a lot for this video I'm going to start paying myself and it starts now
Wow! This is a must watch for every young person in Nigeria. They want to hammer but do not know how to handle the hammer when it comes and then they lose the hammer!
Thanks Adeola. This is great. My husband and I have been following you for years now. And yes, the book, we're getting it.
I love this woman! may God keep blessing you lady.
God bless you, i just realised how much i spent on useless things
You are right my since I realizes that those people I normally give money to every month can actually do without me given then and stop accepting I have for once I couldn't believed the figures in my Account. This ur video has motivated me even more u have just said it all thanks
One needs to be mean to make wealth. If you're not mean to others you're definitely mean to yourself. So much pressure living abroad. Thanks Adeola God bless you.
The pressure that comes with these requests can bend Principles.
"If you die they will survive" It's an ideology that will strengthen Principles.
This message is the missing link in my life. This is your first video am watching right now, and I almost scrolled past it, something just said listen and watch it.
It's the turn around I had been hoping for.
Am greatly blessed by your message in this video. I feel it was for me. I've been taking care of everyone around except ME. I don't have savings, my accounts are always RED (DEFICIT). SO MUCH DEBTS to settle.
Thank you. Your message in this video is an eye opener and has knocked so much sense in my head and mind.
Thank you dear.
Alot of inspiration from this
Thank you so much Adeola. You are great
“Rich Dad Poor Dad” by Robert Kiyosaki changed my life and my thinking. Passive income a must and also what the govt refuse to inculcate in school (curriculum).
What the Rich teach their children vs What the poor teach their children a major gap in the societal hierarchy.
Sweetheart you made my day. What I learnt from you is far much better than going to church today. Thanks a lot for this eye opener.....
You have said it all
There is no better ways of saying it.
Knowledge is u. God bless you.
Adeola thank you very much for this video. I have been following you for years, this is your best video I have ever watched, I'm really blessed by this video, I shared with my children and friends. I have to commend you for it. Please try to do more video like this, things of general interest. People are really not interested in politics. Thank you very much. Love you
You are 100 % on Point ! I love You Sis !!!
Madam Adeola I have told you before that I will soon be passing my data bills to you. Now that I am an Adeola-Addict who will pay my MTN data bill abi you will talk to them to subsidize my data bills bcos I must watch any video Adeola Fayehun. And the more I watch the I desire to watch more. You are simply tooooooo much and too fantastic. I have a Master degree but I have learnt what I never know from this your video. May God bless you and all your generations linked to you. Hmmmmmmm, I can't wait to get an opportunity to make a part of my programme in future. May God continually renew you, increase your capacity and wisdom and keep you robustly healthy, you and your family.
Ur wisdom will never die my sis
Amen
I just needed to hear this
Our God is God of principle
My pastor Dr paul Enenche preach that always
Absolutely Adeola...pay YOU at least 10% of anything u just as u tithe
Yes...I walk an hour to work, feels great and saves 60% of my usual transport costs for a month
I will also recommend that anyone interested in getting out of debt, should read Total money makeover.
To summaries the book,
1. Start budgeting, give every Naira a name, don't spend any money until you have a budget (checkout everydollar.com).
1. Save an Emergency fund, In the US = $1000, UK = £1000, in Nigeria maybe 50k or 100k.
2. Pay off your debt
3. Save you main emergency fund (3 to 6 months of your monthly expenses, e.g if the cost of running N100K to run your house a month, save N300k to N600K.
4. Save for large expenses, live within your means.
Thank you so much. Wish I can give this one million likes. You just talked to me, thanks again.
Thank you for this video. This is one thing we were not taught. Having a hang around it now makes things difficult and we have to do the job by learning all this.
Adeola I think this is the best video on this your making wealth train 🚂! The bottom line is SAVING! If you don’t save how can you invest? Nah ! Saving first then you can invest!! I did it and God willing things going very well basically!!! All the best and thanks 🙏
its not Bad to think of yourself first...i borrow people money but to return my money na wahala....aint playing Mr. Nice role anymore.................Savings all the way
The term Rat race was coined by Robert kiyosaki in his book Richdad Poordad
The first lesson; pay yourself was gotten from the book "Richest man in Babylon"
Read a lot of motivational books and you'll learn all these lessons
Bob Marley also sung a piece about it.
Even Nigerian reggae artistes, The Mandators sang about rat race long before Kiyosaki dreamt of writing his book.
Adeola u get sence
Many people go listen to this speech and i swear dem go appreciate am
Dis speech dey affect me like dis but u don burst head
Thanks madam for this educating speech 🌹
You are truly on point. I don't know how they get to know i have cash and they just start coming. And most of them make more cash than I do. God punish the devil. So, just got to pay myself first, so I can help others later. Thank u.. Hallelujah.
I didn't know you are this amazing!!
Lol, I've always known...
Thank you so much for this inspiring video,it really touches my soul. To be honest, everything you explained in the video was just pointing at me. God bless you @Adeola
Lol, the watch this video for more tips for your savings then. We all need financial literacy ua-cam.com/video/2zh2XZMWL3I/v-deo.html
Thank you ma, you are a blessing to our generation
I love this piece.
God bless you richly Adeola.
This is not for those in Diaspora only oo, we need it here too.
A lot of hardworking people work and spend all their earnings because they believe in pension and gratuity despite the fact that these funds are unreliable.
Thanks.
Great advice Adeola. I have been practicing all these tips for a long time myself. For instance, I have a standing order on my salary account that moves a certain amount of money to my savings account.
Called paying yourself first..... Brilliant
This is the first time I'm watching your video and I am in love with it already 💞💞💞. I have a very bad habit of excessive spending. Thank you I will apply this principles🥰🥰👍
Welcome!!
May God keep multiplying your influence in this generation and beyond. Thank you so much for this!
Thanks Adeola for this Video,it's really inspiring .It's never too late to start planning and saving .Failure to plan,is planning to fail! Start this very Month,no matter how small you can set aside; and you'll be surprised what it'll pay off by end of the Year.Do not wait for that 'so called Miracle o' It starts with you! A word is enough for the Wise,my People in the Diaspora.
Stay blessed all.
I enjoy watching your video not just because of what you says but you are also funny
Men! It’s like you were talking to me. I make close to $150,000. But those midnights calls from Africa don’t stop. One time I decided to hold on and not to send money for someone who was sick, thinking it was just one of many ways they use to get my money. The day I sent the money for the medical bills was the day she died. The money I sent was used for the funeral, it’s weighs heavy on my conscience.
Ibrahim Janneh don’t let it weigh heavy on your conscience. The people who kept asking share in the blame. If they had exercised good money management they wouldn’t have burdened you so much that when it mattered your trust was broken. Our people are mentally lazy not because they want to but it’s not a value system we encourage. When next you sending money ask for an account of appropriation of the money and if you’re giving it as a gift don’t give so much.
After watching this video, I really wished I could hug you, I have experienced what having some savings can do one, it gives some level of peace of mind.. thanx once again for this inspiration.
Adeola you are outstanding. I can't thank you enough for your money coaching video. I pray I put everything you said in practice. You are so versatile!
Thank you so much.
This is quality content. I respect the fact that you use principles and it shows you are well read.Passive income is what everyone should aspire for. In terms of money principles; you are at the top 4%. This makes you an expert. The only thing I will add is : After you learn to save money, you must create a plan to stockpile, leverage and compound your income to attain financial security.
Please elucidate. I want to learn.
thanks Adeola i really learnt from this video,gonna make a change in my savings from now on
We all need the change. Watch this video, it will show you so much ua-cam.com/video/2zh2XZMWL3I/v-deo.html
You have open my eyes. This teaching is so brilliant. I will run with this idea. Thank you
I have been following you for awhile now but really appreciate these pieces of advice on saving, I will take your advice seriously and start paying myself for the future
I am guilty of that as family or friends call me I can never say no and now I start making children and sometimes it difficult sometimes but they never believe when I say things are tight it’s not easy like when I was younger.
Nice advice Adeola, so on point 👌. But the idea of buying a Car for instance and given to someone to drive for you and be giving you returns here in Nigeria, my sister that's a NO, NO.
ELLA NMA why a no no? This is how taxi fleets are started. There are obviously trust issues but many manage to overcome somehow right? Sometimes, not every idea is good for all peoples. I think it was just an example that works for a few people.
@@trevorweir You are right that the advise works for some people but for me. I can try some other biz I can possibly have more control over even if I'm not there and entrust it on someone to manage for me but definitely not a trans biz. Am telling you from experience ma Bro.
@@ellobymedia7197 I am sympathetic because I have done the financials on this for a number of West African cities and found places where the cost of the vehicle, price of gas, fare costs, vehicle depreciation, taxes and everything else were aligned pretty, pretty good.
But that part that wouldn't align, at least for me, was my partner in crime. She had too little business sense and I could see that the taxi drivers would just continue to baffle her with their excuses and since I was not going to be there, I had to drop the idea too.
So, it can work, I have done the numbers, seen the profits, made it work properly on the spreadsheet even with theft, but its definitely not for everyone and there are other investments that have the trust factor embedded.
GOd bless you My sister. 2020 may be the year remembered as The corona year, but for me it will be the year I choose to turn my life around, when it comes to health and economics. Shout out from a Burundian sister 😍😍😍
Thanks a million my younger sister shared it to me now...believe me everything listed here is all about my life...i really got a lot to do...thanks Adeola...God bless you
Saving is not enough but investing in other to multiply good talk though
Beautiful👏👏
God bless you for this. First time I really understand the concept of paying yourself first.
it's not selfish to pay your self first. otherwise, you are working for the people you are sending money to.
Great lesson learned today
Thank you
Adeola thanks...I work 2 jobs here in uk ..thanks for the number 1 idea...I will pay myself because even ur monthly savings always goes to family members home and away..I have never pay myself always paying and paying
You are right. Dat is how u go broke and later they ask u wat hve u done
@@omonuwaibizugbe9132 You are absolutely right. And these people are never satisfied
Exactly true when we abroad, people in our country think that we get money from trees 🤔🤔🤔🤔
ADEOLA you are a rare GEM. I have been doing my underground research about your parents, i truly want to know what they have done before God blessed them with a child like you.
Honestly you're full of wisdom ,I must confess to you, your smiles and open teeth marvel a lot of people,may God bless your mom that gave birth to you. Your husband is the most luckiest man on earth by having you 🙏🏻🤝🏻
Lol, nice one. Nigerians are doing really nice and informative contents. Have a look at this as well ua-cam.com/video/2zh2XZMWL3I/v-deo.html
She has definitely read the book The Richest Man in Babylon! She's a natural beauty by the way!
Come to think of it ,who am I even competing with.
I need to gather my money together and stop being stupid!
Yes sis!
God bless u all dis message is for me for 2yrs i hav nothing to show for just family wahala before i take my salary is finished more wisdom sis
So sorry dear
This advice is a life time advice and it's practical for a lifetime, doesn't matter if this video was recorded 2yrs ago. Thank you.