It was the second to the last week in April, salaries had not been paid, practically everyone around me was mumbling and complaining of how broke they were. They were all looking for a loan; be it a salary advance from a bank, or a loan from a colleague, it didn't matter. All they wanted and needed at that point in time was money till salaries got paid.
On my way home, a good friend of mine pinged me, and the subject for discussion was also the money issue. He kept complaining how he hadn't been paid his salary, how small his monthly salary was, how he keeps borrowing monthly to supplement his salary, and so on and so forth. In the middle of our conversation, I asked him if he had any other source of income other than his salary, and his reply was " Babe, how do you expect me to have any other source of income? I can hardly save with my meagre earnings, not to talk of invest in something"
This got me thinking, and I decided to do a little survey. I asked some friends and colleagues a few questions, some of which include:
- Do you save?
- What percentage of your earnings do you save?
- If you came across a huge sum of money, what would you do with it?
- Do you believe in investing?
- Do you have any investments?
- Do you have any nest egg for your children's futures?
- Are you teaching you kids financial responsibility?
- What would happen if your major source of income(salary) suddenly stopped?
- Do you involve your spouse in money decisions?
- Do you have a budget?
- Do you spend your money on assets or liabilities?
I got different answers, some of which had me opening my mouth in amazement, and these answers will be addressed in future blog posts.
Please stay with me on this exciting, educating and insightful journey.
Yours sincerely,
The Money Maestro
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