Ken had just closed a sale. A friend commissioned him to sell a plot of land in Arepo. He had made ₦150,000 from one sale. He drove home whistling loudly, convinced that he was on the right path. He gave Layo ₦50,000 and told her to take the kids shopping. He also wanted their daughter to get extensions in her hair. He enjoyed seeing the shock on Layo’s face. She couldn’t understand where he had gotten the money from.
“I told you I’ve struck gold with my new business. I sold a plot of land today and made ₦150,000. Imagine how much I will make at the end of the year.” Layo thought he should keep the money for rainy days. Ken ignored her and began to dream about the things he would buy and do as soon as he made his first million. The next day at work, his manager questioned the efficacy of his sales strategy, and he took offence. He didn’t see why he had to justify anything. He had worked long enough at the company to earn their trust.
Ken began to read what he perceived to be the handwriting on the wall: they were starting to question his work so they could easily fire him when the time came. He decided to be a step ahead. Ken turned in his resignation at the end of the day.
After hearing her speak to Babatunde, Ibrahim had a new appreciation for his wife. He also came to terms with his own selfishness. She had been right about his choices and been left with no other choice but to protect their money from his poor decisions.
He said this much to her over lunch. She had been speechless when he asked if she’d like to meet at their favourite restaurant.“ I sent some money to your account. Let’s go and get this IVF done.” Saheedat muffled her squeal in her hands. “Where did you get the money?”
“I took a loan. Now I know you don’t like borrowing, but we’re good for it. We would have raised the money anyway. Why wait when we can do the procedure now and pay later?”
“What about the house you wanted to build?”
“I am building my house.” She laughed. “What changed your mind, Ibrahim?”
“I saw the value of my wife.” Saheedat smiled.
Kosiso was getting a bad feeling she could not explain. She had just gotten out of a meeting with a potential client, and it had gone better than she had hoped. Still, there was a nagging feeling that something was horribly wrong.
She called Kene’s school, but everything was fine. She thought hard to see if she was forgetting something important. Her calendar showed nothing important, apart from an early pick-up time for her daughter.
It wasn’t until noon that she realised that it was the tenth anniversary of her father’s death. She refused to dwell on the past because it only reminded her of so much pain and suffering. Instead, she brought out the sheet she had filled out a while ago and attempted to write her financial goal.
When Babatunde stepped out of the bathroom and smelt a different fragrance in the room, he knew they had been discovered. Mrs Coker was on the bed, duvet drawn up to her chest, stunned into silence.
“So, this is the young boy you’re disgracing me with?” Babatunde stood still, unsure whether to grab his keys and trousers or respect the man and wait for him to finish ranting. When it seemed that the couple was waiting for him to leave them, he grabbed his things swiftly and left the room.
In the car, he felt a hollowness within him that he had never felt before. He started the car and drove home slowly. When Babatunde got home, Saheedat was with his father. “I’m on break at work, so I thought I should come and check on you briefly.” She was speaking when he walked in looking so defeated. “You came from your office?” “No,” She replied, looking from father to son and wondering why neither acknowledged the other. “I’m working from home today.” Mr Kosoko told her he was trying to sell some of his properties to pay off his debt.
Saheedat was glad to hear that he had the presence of mind to take on such a task. His hand sometimes trembled when he held things, so it was a relief to see his mind was still sharp. Victor joined them a while later. Saheedat had invited him to speak to him about estate planning. She knew Mr Kosoko only humoured her by letting her do so, but she was confident that he would warm up to Victor and his charm when he began to speak. Mawon and Babatunde had planned to meet later that night. He was going to accompany her to a work event, where she was hoping they could find angel investors. She had this idea that if they could persuade some of the guests to invest in Babatunde’s upcoming movie, he could pay better actresses and actors that would have people rushing to view his movie on YouTube. Babatunde was not in the partying mood, but he couldn’t exactly tell her why. They met outside the hotel, and he held her a little while longer. He wanted to feel her warmth before he told her he didn’t have the money he had promised her for the apartment. She pulled his hand. “Come and meet Reggy.”
Layo could not believe her ears. “You did what?” “I resigned. Yes, I resigned before they sacked me because Kenneth Dibia will not be sacked.” “And you resigned because you’ve started this new business? Ken, what is… what is wrong with you? Are you okay?” “Look, I know this is a surprise to you, but don’t insult me.”
“I’m not insulting you. I’m just wondering what you were thinking. Even if they would sack you, they would have given you millions for working all these years with them. Now you’ve thrown everything away for a business you’ve never done before.”
“I told you I made ₦150,000 without breaking a sweat.” “Haven’t you heard of beginner’s luck? If it was that easy, why do you think Brother James at church is always borrowing money from someone.” “James is not a salesman. I’m a born salesman.”“Okay Ken. Let’s see how many more houses you sell.”
“When are you going to start selling your products?” He was referring to the skincare products she had bought from Sister Tosan. She had not been able to sell a single cup of cream. No one was interested in buying shea butter. They wanted skin lightening creams instead. Layo had left the whole package on the dining table, unwilling to confront the fact that she had made a bad investment.
“I’m busy now. Maybe later. So wait, Ken. Now that you’ve resigned, how will we pay school fees in September?” “You worry too much. This is still June. When we get to the bridge, we will cross it. Let’s talk about something more important. I have a suggestion for you; I don’t know if you will take it.” “I’m listening.” “How many students do you have now?” “Two.”
“Why don’t you also start a class on Zoom for children who can pay less? If you do it like that, you can capture two markets: people who can pay your money and those who can’t afford you.” Layo didn’t know how to go from annoyance to admiration. She didn’t understand how a brilliant man could make such shockingly foolish decisions.
Mawon led Babatunde to a table and handed him a drink. Around them, people were eating, drinking and chatting. But Babatunde could barely concentrate. He wanted them to go somewhere quiet where he could tell her most of what had happened the night before.
“Guess what? Reggy loaned me the money for the apartment today. That’s why I was calling you this afternoon. What did you say happened to your phone again?” Babatunde stilled. He saw someone that looked like Mrs Coker afar off. He shook his head. It couldn’t be her.
“Guess what? I bought a new phone. And did you hear what I said about the rent?”
“You did what?” “I bought a new phone. You know how I’ve always wanted an iPhone. I found a guy who agreed to let me pay in instalments. Anyway, I still have the money for the rent, so don’t worry.”
“You bought a new phone? What happened to financial planning?”
“Look, you only live once, and I’ve tried. I spend my money on everyone but myself, so this time, I chose me.” Before he could respond to that, someone called her. She smiled widely and he turned back to see who it was. It was Mrs Coker and her husband. “Hi, Reggy. This is my boyfriend, Babatunde.” Babatunde gasped. So did the woman standing next to Reggy. Reggy shook his head. Mawon was confused. “Reggy? Babatunde?” Babatunde had backed up a bit. Reggy laughed. “This is your boyfriend?”
“Yeah? Do you know him?” “The question you need to ask, dear, is if you know him.”
“Mawon, can we step outside for a second?” Babatunde’s voice was hoarse.
“Oh, so now you want to tell her?” Mawon had never seen Reggy look so serious. “Mawon, you should ask your boyfriend where he was when you were trying to tell him I loaned you the money for your rent.”She looked at Babatunde, but he seemed helpless.
“He was in my bed with my dear wife. Isn’t that funny? I was helping you and he was…helping her. Or maybe they were helping each other.” Babatunde turned to Mawon. “I’m so sorry. It’s not what you think…”
Mawon shoved him. “Don’t tell me that. Is it true or not?”
“I’m sorry,” he said again and left the room before anyone could see him cry.
Ebube knew Ope had to be home because the light in his bedroom was on. This was going to be a hard conversation, but it had to be had. He had finally managed to get the funds to buy Ope out, but he wasn’t sure when he would sign the documents that sealed the deal. On his way to Ope’s room, he saw an envelope on the couch. He opened it. Ope had signed the documents. He headed for his room and saw that everything had been cleared out. Was it going to be that easy? He found it hard to believe that Ope would walk away without throwing a tantrum, even though he was satisfied with the amount he was offered for his shares. Still thinking about this, his phone started to buzz. He couldn’t imagine who could be pinging him so desperately. They were Twitter notifications. Ope had not gone away quietly after all. He had written a defamatory thread on the social media platform, claiming that the product was entirely his idea. It wasn’t looking good, but Ebube went to bed peacefully. He had the control and funds to turn this PR nightmare into a PR blessing.
Saheedat and Ibrahim were going over baby names, believing that this time, they would conceive and have their own baby. They were arguing over Zainab or Zaahid when Saheedat’s phone pinged. It was Kosiso. The text read: Ayo is dead.
Reflections
Money Mistakes of Millennials
Did you know that a steady stream of income is not a guarantee for financial freedom? Many people desire financial freedom but lack financial discipline. Discipline means to train or develop by instruction and exercise selfcontrol. Many people yearn to become healthy, wealthy, and physically fit with no effort, but it will hardly happen. It is futile to expect financial freedom without financial discipline.
Let’s discuss a few financial mistakes millennials make:
1. Poor savings habit: Savings simply refers to income not spent, or deferred consumption. Saving is an action word; it involves putting aside a part of your inflows consistently towards meeting your future financial obligations. Saving is the first step in the journey of financial freedom.
2. Uncontrolled spending: You must be able to distinguish between your needs and your wants. A need is what you require to survive, something you can’t live without such as food, clothing and shelter.These are things that will put you under pressure if you don’t have them. While wants are simply things an individual desires but can live without.
3. Spending more than they earn: Some people are poor, not because of how much they earn, but because of their spending habits. They splurge without limit\ nor due consideration for their inflows. It’s important to live within your limits. Be content with what you can afford at the moment, delay gratification and plan expenses. Whatever you do, do not live above
your present means. Moderate your lifestyle to accommodate your current financial resources.
4. The quest for quick and easy money: Although the current trend is to ensure speedy delivery at all service levels and across several industries, patience is required where investing is concerned. The concept of quick and easy money is one of the biggest lies of all time. The reason for saving and investing your hardearned financial resources is to multiply and not lose your money. However, many people fall victim tompyramid and get-rich-quick schemes all in a bid to get wealth. A lot of people want to be instant millionaires. For starters, verify that the investment firm you are dealing with is registered by the appropriate authority. For example, in Nigeria, the Securities and Exchange Commission (SEC) is the apex regulatory body for capital market operators. Also, be sure to get at least basic knowledge in the asset class you intend to invest your funds. Finally, if it sounds too good to be true, pause and make more enquiries before committing your funds.
