The first month of 2025, is almost coming to an end. How are your finances doing? Are you saving them or are you investing them?
I have tried to research and it has been difficult for me to find many credible examples of people who became rich by saving their money. Is that to say saving money is bad? No! It is to clearly remind you that saving money will not necessarily make anyone rich.
Money can be saved for emergencies. Money can be saved for unforeseen financial needs. Money can be saved for a planned project etc. But saving money with the aim of becoming rich, is a tall order.
if you’re putting your money in a bank account with low interest rates, you’re basically letting inflation silently rob you of the little you have. Every time inflation rises, the value of the savings depreciates. What the money you saved could purchase at the time you banked it, will also increase in prices with corresponding inflation rate. What N1 million could buy last year, it can’t buy that same thing this year, because of inflation.
Banks just mop up your little savings and give them as loans to the rich, at high interest rates, to finance their businesses. Rich people don’t save their money. They invest their money and spend part of the proceeds of those investments.
As we proceed deeper into the year, remember to invest your money. Apart from saving to brace up for avoidable financial shocks, make your money work while you sleep. Instead of sitting idly in your account, your money should start multiplying itself in the remaining part of 2025.
In this 2025, once you can amass considerable amount of money, take some risk with it instead of keeping it in a bank. Be quick to find what to do with the money to get a turn over. There is no general rule for doing that, you only have to think, consult and get ideas on a variety of small ideas that can generate turn over. They don’t have to be big ideas. Just normal properly thought out ideas that can multiply your money.
It’s a lesson I am also teaching myself this year. I even need it more than you that I am sharing this with. In my own opinion, this seems like a more secured path to staying financially afloat this year and beyond. And if you disagree with me, be rest assured that there is absolutely no problem about that, just kindly trash the message.
Citizen Agba Jalingo is the Publisher of CrossRiverWatch and a rights activist, a Cross Riverian, and writes from Lagos.
NB: Opinions expressed in this article are strictly attributable to the author, Agba Jalingo, and do not represent the opinion of CrossRiverWatch or any other organization the author works for/with.
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