3 Reason why your Income is never enough

The hardest part of the growth process is learning to let go.

Hello Family (in Vusi Thembekwayo’s voice), let’s talk about your expenses today. By the way, Vusi is one of the people that inspires me in today’s world. He is an eloquent communicator, business guru and I really like the way he laughs.

We live in a world where we are constantly pressured to keep up with new trends, styles, and behaviors. It is unbelievable that people will go to any length just to keep up with their peers. Suddenly, you are too big to enter the bus because you are earning 300,000 Naira a month. You are always buying airtime and data trying to connect with people who don’t really care about you. You buy food in the most expensive restaurants and the aso-ebi of the weddings your family and friends organize in another state. One day while trying to keep up with the bourgeois lifestyle, you decided to throw a lavish birthday party with your leave allowance. People see you as a rich person, but you have no savings. The only investment you have is the 50,000 Naira you put into forex in 2021.

The truth is you know you cannot keep up with this lifestyle, but you want to “fake it till you make it”. The trouble now is people will never believe you don’t have money.

Oh! This is not your case, right? Madam T, when will you stop complaining about being poor? Yours is to complain there is no job and the economy is hard. You have a degree and yet, you agree 50,000 Naira a month is the best income you can get. You don’t want to learn a new skill or trade because there is no money. Let me tell you one thing my mentor once said. He said, “The validity of your excuse does not deter you from the consequence of your (in)action”.

I have not come to condemn but here are my two cents. There are 3 reasons your income is never enough

1.       You are shy to make money – You are afraid to step out of the boat.

2.       You are living above your means – Your expenses are growing at the same level as your earnings.

3.       You are ignorant about opportunities- You are not aware of income-generating potentials or cost-saving options.

This is a wake-up call. You must break this vicious cycle of poverty. No matter how far you have gone in the wrong direction, you can always make a U-turn. Learn to live below your means. Seek Knowledge.

I leave you with the words of Vusi,” The hardest part of the growth process is learning to let go”. Let go of the bad values and embrace new ones today.

I hope this helps. 

Your Finance Coach,

TL.