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Nigerian Economy: 5 Habits Of People Who Will Never Go Broke

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Nigerian Economy: What People Do To Not Go Broke | Fab.ng

Tough times are hitting Nigeria hard, with many people struggling to make ends meet. The rising dollar exchange rate, the unpredictable Nigerian economy, and skyrocketing costs feel like a never-ending uphill battle. But here’s a surprising twist: There are some individuals seemingly sailing through this storm. So, what’s their secret?

It all boils down to smart financial habits. These folks aren’t just weathering the storm; they’re building a financial ark that keeps them afloat while others are treading water. The difference lies in the choices they make, the habits they nurture, and the mindset they cultivate.

So, what are these magical money moves to beat the Nigerian economy? Buckle up as we explore the habits that set these financially empowered individuals apart from the crowd.

Forget the myth of magic spells for tough times. The real secret to staying afloat financially, even in rough economic waters, is simple: budgeting and planning like a pro.

These financially savvy folks know the magic lies in living within their means. They don’t just guesstimate their income and expenses; they track everything carefully. That fancy new phone or trendy outfit might seem tempting, but they understand true happiness doesn’t come from fleeting trends. Instead, they prioritise needs, knowing a well-planned budget is their shield against financial storms.

By living frugally and avoiding paycheck-to-paycheck struggles, they build a strong financial foundation that weathers even the toughest economic tides.

In these uncertain times, when the Nigerian economy is very unstable, relying on just one paycheck is like balancing all your eggs on one plate—wobbly and risky! Financially savvy people know this, so they spread their income across different streams, like a chef balancing their eggs on multiple plates.

This could mean taking on part-time gigs, starting a small side hustle, or investing in things that make money over time. By having these extra income sources, they build a safety net and cushion themselves if one income stream takes a hit. It’s like having multiple chances to catch an egg even if one falls, making them less likely to end up with scrambled finances.

Even in tough times, some people manage to stay afloat financially. There’s a secret? Not really. It’s all about building good habits, like saving. No matter how small their income, these clever folks set aside a little bit every month. It’s like building a piggy bank for grown-ups. This “rainy day fund” acts like a superhero shield, protecting them if things get rough.

But there’s more! These savings don’t just sit there gathering dust. Over time, they grow bigger and stronger, like a magical money tree. This gives them opportunities to invest in their future, securing their financial well-being even more. Saving regularly is like building a fortress against financial storms!

Just stashing cash under your mattress won’t cut it in Nigeria these days. With inflation gobbling up money’s value like a hungry monster, financially savvy folks know they need to invest. But they’re not impulsive investors, jumping into anything that glitters. They go on to research and understand the risks and rewards of different investments before taking the plunge.

Whether it’s houses, stocks, or bonds, they choose wisely to earn “passive income” (money that grows on its own), building wealth like a snowball rolling downhill over time. Also, keep in mind that smart investing helps your money work for you, not the other way around.

Money matters can feel confusing, but guess what? Knowing stuff is your superpower. People who stay financially strong don’t just wing it. They’re like financial detectives, always learning and growing.

They read books, listen to experts, and even take classes to understand how money works. Why? Because the more they know, the better choices they can make. It’s like having a map to navigate the world of budgeting, saving, and investing, making them less likely to get lost (or broke).

Knowledge is power, even when it comes to your wallet!

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ENTERTAINMENT

Toyin Abraham Begs Fans Not To Bully Anyone In Her Name

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Toyin Abraham begs fans not to bully anyone in her name | fab.ng

Nollywood star Toyin Abraham took a stand against online bullying on May 14, 2024. The actress and producer specifically addressed her fans and followers on her Instagram story, urging them to stop bullying or hurling insults at others in her name.

Her message highlights a growing concern about celebrity fan culture and the potential for online harassment. Toyin Abraham likely wants her fans to express their support positively, and she emphasises that she doesn’t condone negativity directed at others.

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ENTERTAINMENT

“Stop Pitting Me Against My Friends” – BNXN Warns Fans

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"Stop Pitting Me Against My Friends" – BNXN Warns Fans

Nigerian music star BNXN is putting a stop to online comparisons. Influencer-fueled debates about who the better singer is, BNXN or Ayra Starr, recently took social media by storm. But BNXN isn’t here for it. On May 13th, 2024, he took a stand on his social media platform, urging fans to ditch the comparisons and appreciate artists for their individual talents.

BNXN is a force to be reckoned with in the Nigerian music industry.

He is renowned for his music, and he’s consistently impressed audiences since bursting onto the scene. This isn’t the first time BNXN has encountered online comparisons. He clearly remembers the public feud with fellow singer Ruger that erupted after similar comparisons on social media.

Thankfully, cooler heads prevailed, and BNXN and Ruger ended their disagreement. They even collaborated on a successful EP titled “RnB,” featuring hits like “Romeo Must Die” and “Ilashe.” This proved that collaboration can be much more fruitful than competition.

BNXN and Rugar

Meanwhile, Ayra Starr seems unfazed by the online noise.

She’s laser-focused on the upcoming release of her highly anticipated sophomore album, “The Year I Turned 21,” expected to drop this May.

The Grammy-nominated artist recently unveiled “No Bad Vibe,” featuring Seyi Vibez, as the album’s lead single. But that’s not all! The full project boasts an impressive lineup of guest appearances, including Asake, Giveon, Coco Jones, Anitta, and even her brother Milar. This star-studded collaboration hints at the diversity fans can expect from the album.

So, it’s clear that both BNXN and Ayra Starr are prioritising making music for their fans, not getting caught up in online comparisons. Their dedication to their craft is evident, and their talent deserves to be celebrated individually.

Let’s appreciate their unique styles and contributions to the Nigerian music scene, and keep an eye out for the release of Ayra Starr’s album; it’s bound to be a smash.

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FASHION

10th AMVCA: See How Celebrities Rocked The Red Carpet

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10th AMVCA: See how celebrities stunned the red carpet | fab.ng

The annual African Magic Viewer’s Choice Awards (AMVCA) unfolded her 10th edition on May 11th, 2024, transforming Lagos’ Eko Hotel and Suites into a dazzling spectacle. Nollywood’s A-listers and Africa’s most celebrated talents in film and television converged for a night of recognition and glamour.

The ceremony, broadcast live on DStv and GOtv, not only celebrated artistic achievements but also served as a platform for showcasing exquisite fashion.

The red carpet buzzed with excitement as celebrities arrived, meticulously embodying the “Wearable Art” theme. From breathtaking gowns that resembled flowing paintings to suits tailored with intricate details, the fashion parade was a visual feast.

While some stars are still basking in the afterglow of well-deserved wins or processing the sting of close calls, the night undoubtedly belonged to Beauty Tukura. For the second consecutive year, she stole the show and secured the coveted Best Dressed Award.

Beyond the awards and unforgettable fashion moments, the AMVCAs serve as a significant milestone, recognising and celebrating the exceptional talent within Africa’s film and television industry. The ceremony honours established names and shines a spotlight on rising stars.

This year’s AMVCAs undoubtedly left a lasting impression as a premier event that celebrates African excellence in film and television.

See top fashion from the 10th AMVCA below:

1. Osas Ighodaro – Dress designed by Veekee James

 

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A post shared by Osas Ighodaro (@officialosas)

2. Bisola Aiyeola – Dress designed by Somobysomo

 

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A post shared by Bisola Aiyeola (@iambisola)

3. Beauty Tukura – Dress designed by Emaginebybukola

4. Nana Addo – Dress designed by Yoli Koomson

 

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A post shared by NANA AKUA ADDO (@nanaakuaaddo)

5. Tacha Akide – Dress designed by Abbaswoman.ng

6. Uche Montana – Dress designed by Veekee James

 

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A post shared by Uche Montana (@uchemontana)

7. Toke Makinwa – Dress by Veekee James

 

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A post shared by Toke Makinwa (@tokemakinwa)

8. Adunni Ade – Dress designed by Anncranberry

 

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A post shared by Adunni Ade (@iamadunniade)

9. Neo Akpkofure – Outfit by Ambaosa

 

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A post shared by Neo Mobor Akpofure (@neo_akpofure)

10. Laura Ikeji- Dress designed by Ericamoorebrand

 

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A post shared by Laura Ikeji Kanu (@lauraikeji)

11. Idia Aisian- Dress designed by Emaginebybukola

 

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A post shared by IDIA AISIEN (@idia.aisien)

12. Yvonne Jegede – Dress designed by Ericamoorebrand

 

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A post shared by Yvonne Jegede (@iamyvonnejegede)

13. Iyabo Ojo – Dress designed by Mubrikluxury

 

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A post shared by Queen Mother (@iyaboojofespris)

14. Timini Egbuson – Suit by Annakarinkarlsson

 

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A post shared by Timini Egbuson (@_timini)

15. Jemima Osunde – Dress designed by Flat17studio

 

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A post shared by Jemima Osunde (@jemimaosunde)

16. Richard Mofe-Damijo – Agbada by Dejiandkola

 

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A post shared by Richard Mofe-Damijo RMD (@mofedamijo)

17. Liquorose- Dress designed by Somobysomo

 

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A post shared by Roseline Afije (@liquorose)

18. Elozonam – Outfit by Jeffurbanclothing

 

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A post shared by E L O⚡️O N A M (@elozonam)

19. Chiomagoodhair – Dress designed by WEIZ DHURM FRANKLYN

 

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A post shared by Chioma Ikokwu (@chiomagoodhair)

20. Vee- Dress designed by Ladybeellionaire_luxury

 

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A post shared by VEE. (@veeiye)

21. Faithia Williams-Dress designed by Pearls_bridals

 

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A post shared by Faithia Williams (@faithiawilliams)

22. Tolanibaj – Dress designed by Obitomic

 

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A post shared by TBAJ (@tolanibaj)

23. Tomike – Dress designed by Veekee James

 

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A post shared by Tomike Adeoye (@tomike_a)

24. Adedimeji Lateef – Agbada designed by Labaleoo collections

Check out more fashion news here.

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