5 Money Lessons Most People Learn Too Late

  • Post published:December 1, 2020

Wounding up broke and penniless at age 29 was the last thing I ever thought could happen to me. Like most people, I felt that if I just focus on getting straight A’s, graduating at the top of my class and landing a high-paying job then my life would naturally take the highway of abundance, happiness and peace. Yikes!

It didn’t take long before my Lego castle came crashing. After failing to secure a university admission for nearly 10 years, I felt deceived! The years swooshed past me like a locomotive train; ripping me of many opportunities as it whistled away.

I was broke, not because I couldn’t get into the university early but because I had a terrible paradigm that linked money exclusively to a college degree and a job. Exclusively is the keyword.

When I learned what I’m about to share with you, my life lifted off the ground like a space shuttle escaping gravity. I tore through the negative mindsets that held me hostage until I finally found home in the orbit of financial freedom; never to return to poverty.

10+ years and many lessons later, I have built an enviable portfolio and now mentor hundreds of young people to join me in the orbit—of financial freedom and peace.

My only regret was not learning these lessons earlier. And that’s the pain I want to spare you through this article. Ready.

1. Money is No Different from Chameleons

5 Money Lessons Most People Learn Too Late
Photo by Jesper Aggergaard on Unsplash

Okay, I don’t mean that in the literal sense. What I mean is, money takes up the colour of its surrounding. It blends to express the values of its possessor per time.

The same money that was handed to an orphanage is the same money that could’ve been spent on packs of cigarette. Understanding this saved me from one of my most toxic mindsets about money: money is evil!

Since I subconsciously saw money as evil, I unknowingly took decisions that sabotaged my ability to earn, retain and multiply it. “Elisha, since you don’t want to be an evil man” my subconscious mind advised me, “why don’t we just stay poor.” And that was what we did for a pretty long time before help came my way.

I realised that people with this mindset will never get wealthy no matter how much money they make. The reason? They don’t want to feel or look evil.

Do this: Say to yourself “money is not evil. Money does good things when it is in good hands. My hands are good!”  

2. Patience Makes You Attractive to Money

Most people I know who crashed out of the financial freedom race were impatient. They kept scooping the hot plantain out of the boiling oil into their mouths; caring less about how many burns they will sustain.

For them, the results were more important than the process. That is may hold in other climes but not money.

You see, how you get rich determines how long you will remain in the orbit of wealth and financial freedom. As a young man hungry to make money, I met the get-rich-quick temptation too. We all did!

While some of my colleagues fell for it, a few others like me sat on our hands and watched the get-rich-quick train speed by. We only got news of the crash later.

When you are patient, money will fall in love with you. Like a woman impressed by her suitor’s patience and persistence, money will eventually see you for who you are and agree to marry you until death do you part.

Do this: Turn down opportunities that promise to rip you off the process of building wealth. The first bite might work. But it becomes addictive in no time. And that’s when the cobra strikes! The next lesson will show you how to speed up your money game.

3. Every Hour You Spend Learning About Money is a Month Shaved Off of Your Money Journey

5 Money Lessons Most People Learn Too Late
Photo by Adeolu Eletu on Unsplash

Your financial intelligence and the time it takes you to get rich have an inverse relationship. That means, what you know about money will determine how long it takes you to make it.

This is how I revved from broke to super-wealthy in under a decade. I’m still on that path. And the more I learn about money, the easier it is for me to make it.

When I settled down and invested my time to understand the rudiments of money, market forces, economics, asset classes and how they work, everything changed!

Do this: Spend at least 30 minutes to 1 hour every day learning about finance. It could be a video, a course or an article. Just make sure it’s a reliable source.

4. Who You Are is More Important Than How Much Money You Make

Have you seen people suddenly change when they start to roll in the millions? Well, they never changed. They only found their voice. Haha!

Money can do many things. It is an accentuator; it makes the hidden obvious. It reveals the unseen details about people.

While you were broke, your personality had limited conduits of expression. When money arrives at the scene, it gives you multiple ways to express your personality. Put together, these multiple conduits gives you full expression.

If you had a penchant for oppressing people, money will amplify that by the power of 100. If you’ve always had a heart for the poor, you may find yourself drawn to making life easy for people.

If you’ve always had a heart for the defenceless in society, you might see yourself hiring lawyers to defend innocent folks who would not have afforded it. Money is an amplifier!

Do this: While you find ways to grow rich and wealthy, work on your character. Your character will attract the right people. When you are humble, sociable, teachable and willing to see from others’ lenses, you will attract quality people into your life. Without the right people in your life, you are not truly rich. See my article on how to build trust with people here.

5. Money Has Seasons

5 Money Lessons Most People Learn Too Late
Photo by Chris Lawton on Unsplash

We appreciate the law of seasons in the natural world. When it comes to money, however, we expect it to be different. Believe it or not, money comes and goes.

We all experience those periods of plenty and then periods of lows. What you did with the monies from your seasons of plenty determines how you’ll fare in the seasons of less.

So, when next you find your inflow enormously higher than your outflow, that’s not the time to splurge. Rather, it’s the time to deepen and widen your asset base for the long haul. Few things exceed the joy of watching your money work for you.

Do this: When you have unexpected monies coming your way in droves, save them to invest.   

There are many lessons I learned the hard way. And my joy is to see others escape the mines that once blew my fingers off.

So, in my customary way of asking, which of these lessons hits home for you? Please share in the comments. And don’t forget to subscribe!

This Post Has 6 Comments

  1. David Onyealilam

    All of them sank in well but; Patience makes you attractive to money and money has seasons gave me a nudge.

  2. Chidinma

    I don’t yet have the words but this is a gold mine. Thank you sir

  3. Godwin Oluponmile

    This is salient!
    Elisha Mamman’s crushed it!

    I tap from your anointing sir

  4. Iorver Daniel

    ‘Money is no different than a Chameleon ” registered in my mind, I have undoubtedly had a mind Shift. Thank You very much Sir

  5. Adewumi

    Excellent piece!
    Waiting time is truly a difficult time. To make real money, one needs patience.

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