There is no country of the world where they do not refer to money as “hard-earned”. it’s most unfortunate for human beings to spend this thing referred to as hard-earned in rather very careless and foolish ways. Some do this with various reasons behind their actions while others do it as a result of sheer ignorance. However, in whichever category you fall in this foolish or stupid spending, this article is meant to set you free and help you keep your money for better and more useful things.

1. Betting

This is one of the major ways young Nigerians, especially males lose the is money. I guess that thing has a spirit behind it. You may not know that many have lost millions in the name of betting. It ranges from reasonable things like football, pageantry and other competitions to nonsensical and most frivolous arguments. Beware, if you do not love poverty!

2. Avoiding Bargaining

I really do not know why most people think or believe that bargaining, (at least where it is allowed), is meant to be done by the poor.

3. Paying for Home Chores and Repairs you can do Yourself

People are fond of preferring spending to doing very little jobs. They take their clothes to the laundry when they can actually wash and iron themselves; they take torn clothes to the tailor, when its a few stitches they can do themselves; they call a carpenter, just because of something they can nail and fix themselves, etc.

4. Leaving Huge “Tips” at Restaurants

In as much as its nice to be liberal, that does not mean you should make it as a habit to leave off your balance (what we commonly call ‘change’ in Nigeria,) after paying for your meal. It’s quite funny that most people do it when they are in company of friends who they want to impress. Pooh! Guy, how much the friend go pay you later?

5. Buying ‘Asoebi’ clothes and Committee of Friends Uniforms

I do not think that things like ‘Asoebi’ or committee of friends, as they call it, is ever compulsory, but people do it just to belong or to impress their friends. And most of the times, these uniforms are made in such a way that you would not like or be able to wear them again.

6. Impulse Buying

I would say that this is the worst of all. If you form the habit of buying without budgeting, you are automatically a ‘daily broke man’.

7. Giving Your Kids Their Demands All the time

This is one of the things that can drain your cash and the funny thing about it is once you start, you’ve started. Even if the money is there, learn how to make your kids know that money does not come by so easily.

8. Not Making Comparisons before booking for Hotel accommodations, Bus or Flight tickets

This is very necessary as you will always notice significant price differences for the same services out of which you can go for the least costly.

9. Unnecessary Partying

Some Nigerians are party freaks, call it birthdays, naming ceremonies, weddings, funerals, etc. They use it to show off. We are not saying you should not do celebrations, but you need to discern the ones that are necessary and also make it moderate. It’s quite fool-hardy for you to borrow huge amounts of money to do parties that you still would have done with the available cash.

10. Being Addicted to Alcohol

Habitual drinking is a real pocket drainer, and I include it in the most stupid ways you lose money because it goes around to cost you much more when the associated health challenges emerge.