KISS model of money management - Keep 10% of what you earn in long term assets, invest 10% in medium term assets, save 20% for recurring expenditures, survive on remaining 60%.
Your giving should never be more than 10% of your monthly income. Someone's failure to plan should not be your emergency; if not you will join them in poverty.
You can't help everyone and can't play the role of Messiah in their lives.
Create assets that will fund your liabilities
It's financial foolishness to spend money that has not multiplied.
Your income doesn't determine your wealth. It's what you do with it that does.
Asset creation and cash flow pillar will sustain you in any economy. However, if you go the route of asset creation first, you'll be asset rich but cash broke.
Easiest cash flow creation assets - High skill income that makes you between 1-10 million naira monthly(at this point your time is equal to money), scalable business (at this point system is equal to money), high income investments which can generate 20-60% yearly income (at this point money is equal to money).
Of these 3 assets, to know where to put any money you have, ask yourself what are your financial goals? Second question to ask is what will generate that money you want to use to invest?
In truth, all money made while still agile as a person, should be going into developing a high income earning skill.
Your skilll is useless if it can't generate income. You can be super skilled but super broke.
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