Don’t Become The Family ATM

Helping people is good but make sure it is not at the expense of your immediate family & your future.

“Black Tax” – The extra money that black professionals give every month to support their “less fortunate” friends & family.

This causes many not to have savings​ as it impacts ​on ​the ability to be able to save and build generational wealth.

Saving can be difficult in a country like Nigeria where some people almost abdicate their financial responsibilities to you if you allow them.

The following should help:

1. Pay yourself first
– ​T​ake care of your own immediate family needs.
-​ Be number 1 on your priority list
​
2. Save
– ​​Make use of locked up savings that you can’t touch.
– Several apps exist now that can help you do this on your phone.

3. Set a black tax budget…….and stick to it!.
– People find a way to move to other people when they can’t get money from you.

4​. Spend on necessities
​- You don’t have to buy every “Aso Ebi” especially if you can’t afford it

​​5​. Learn to say “No!”​, ​particularly if you cannot afford it

6​. Help others become rich
– If you are the only rich man in your family, you are a poor man!
– Don’t just give them fish, teach the to fish.