10 Nigerians Talk About Their Worst Money Mistakes.

2 min readNov 10, 2020

There are many money mistakes that could be incredibly detrimental to your finances. Sometimes, great financial decisions come after a lot of bad decisions have been made.

For #TalkTuesday, here are some money mistakes that these 10 Nigerians made.


I did MMM in 2015, managed to flip my seed capital of 33k to 90k, then I divided it into two. I found a guy selling fixed matches on Facebook and wasted 45k on the games. The remaining 45k, I put it back in the ponzi. MMM crashed a few weeks to Xmas. That year, December was bloody dirty.


My boyfriend gave me a cash gift of 50k, at the time Etherum was 55k. I should have bought the coin at the 50k price, instead I went to buy pizza and shawarma.


Taking up a loan for a colleague in 2018 and he was fired early 2019. He made a promise to be repaying every month after receiving salary, but it was all stories from inception till he was fired. That was how my 188k went down the drain.


Discovering SportyBet.


Made a bad buy on a Mercedes Benz. It sucked the hell out of me on constant fixing and repairs. I had to make a bad sale after two months.


From 2001 to 2003 I was blowing 100k every minute, spending senselessly.

My secretary advised me to start investing. I laughed at her and continued blowing my money.

My belief then was that only rich people invest. Funny, 100k is still a big deal today. Look at me now, NOTHING.


Buying a Spectranet Mifi for N17,600 which came with 45GB of data and I wasn’t able to use it within the room. It has zero network.


Omo! I gave my four years of savings for my scholarship to a Forex trader to trade and give me ROI. That was how my money entered voicemail till today…it is well


I lent a co-worker some money, she resigned the next day and I haven’t seen her again since then.


Omooo! buying a car for Uber.

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