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These Five Things Consume Money From Most People, No 2 and 4 Can Make You Poor Forever If You’re Not Careful

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Things that consume people's money

It’s not your earnings that makes you rich or poor but your spending habits. When people complain about hardship and lack of money, they forget to look back at how they had spent the last money earned.

There are some little things people spend money on without knowing that accumulation of those little things will amount to large expenses thereby making one poor. Below are top 5 things that drains almost all people’s money;

1. Mobile Phones

No doubt, mobile phones are important to our daily life but the struggle to use latest mobile phone gadget pose a major threat to financial life of some people. Research had it that an average Nigerian change phone at least twice in a year. Some go as far as using their life savings to buy latest phone just to level up.
Somebody using iPhone 8 wants to upgrade to iPhone X when another iPhone XI is already out. At the end of the day, these phones still serve almost the same function, with little adjustment.

2. Recharge Cards For Call and Browsing Data

Changing phones like clothes is not enough but recharging the phones for calls and browsing is another money draining things we all spend too much money on. In all indications, network providers are benefiting immensely from spending habit of some people. Especially in a country like Nigeria when it comes to recharging and data usage.

On the average, Nigerians spend over ₦5,000 on data monthly. People wish to spend less on Data but Instagram Videos, YouTube Videos, Whatsapp Status and the rest won’t let.

3. Alcohol

Taking a look at records of Alcohol consumption in past years, it is quite obvious that most people spend more on alcohol consumption. As a matter of fact, guys are now balling with no budget.

4. Fueling Generator and Car

It’s sad that some countries in Africa especially a country like Nigeria where you will use over N10,000 fuel just to enjoy your GOTV or DSTV subscription. Poor power supply in Nigeria is draining the pockets of everyone and the fact that you will still have to pay PHCN bill again after spending much on fuel makes the country more frustrating. For those that have car too, with huge money spend on fuel, it is less expensive to use Public transport than a Private car.

5. Transportation

Only few people will understand that transportation takes away a larger part of one’s income. Many people work far away from home, so going to work everyday drains money.

Now The Question Is: Which Of The Above Drains Your Income The Most?

Drop your comments;

Olexhome

Written by Olexhome

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