20 Most Foolish Ways You Lose Money Daily in Nigeria


I am yet to hear or see that money is very easy to earn. There is no country of the world where they do not refer to money as “hard-earned”. All the same, 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. Taking Private Drops When You Can Actually Take A Public Bus or Taxi

Normally, the ratio of taking drops to that of entering a public bus or taxi in a city ranges between 5:1 and 10:1. Many do it to show off or just out of laxity.

2. Giving Heavy Tips for “Express” Attention

It’s true that waiting in long queues can really be horrible but many Nigerians just feel they are above going through due processes like queuing up to be attended to. They prefer to pay N5000 for what should have cost them a thousand naira just to avoid the queue, even when it’s not an unbearable one. It’s unfortunate that even students who claim to be the “have-nots” do such.

3. 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!


4. 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. Most people find it difficult to negotiate prices well enough to reduce cost. Who knows, some may be doing it in sympathy for the trader or merely to leave the impression of having enough dough.

5. 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.

Laundry house