In the bustling streets of Lagos, where the hustle never stops, TJ (Tomiwa Johnson) shares his wild ride through the ups and downs of managing money. With a blend of humor, lessons learned, and a whole lot of ‘God abeg,’ he takes us through three unforgettable money decisions that almost made him give up on the dream.
Hey TJ! Thanks for sitting down with us. I heard you’ve got some stories that will make even the most cautious person rethink their money moves.
TJ: (Laughs) You have no idea! Honestly, if I start, you’ll wonder how I’m still standing. But that’s Lagos life for you – one minute, you’re up; the next, you’re calling on God to save you.
(Laughs) Alright, let’s get into it. What’s the first time you made a money decision that had you screaming ‘God abeg’?
TJ: Well, that would be the time I invested in a ‘sure banker’ Ponzi scheme (laughing). They promised a 150% return in a week.
Ah! And you believed?
TJ:I was just starting my business, and someone introduced me to this ‘investment opportunity.’ I figured, why not? If I could double my capital, I’d be set for a while.
(Smiling) Let me guess – it didn’t end well?
TJ: (Shaking his head) Omo, it was a disaster! I put in everything I had saved – we’re talking about 500k – expecting to see 1.2 Million naira in my account in a week. I was already dreaming of how I’d expand my business, maybe even hire more staff. But instead of doubling my money, I woke up one morning to find out the website had disappeared, along with my hard-earned cash.
God Abeg! That’s rough!
TJ: Brooo! That’s an understatement. I felt I was going to die. I had saved up that 500k from the middleman business I used to do back then at Yabatech.
So what did you learn from that experience?
TJ: First thing – if it sounds too good to be true, it probably is. I learned the hard way that there’s no shortcut to wealth. Real investment takes time and patience, and I should’ve done my homework instead of jumping at the first shiny thing I saw.
Wise words! Alright, what’s the second money decision that had you shaking your head?
TJ: This one still pains me, but it’s a lesson I had to learn. I was so desperate to take my business to the next level that I took out a high-interest loan from a microfinance bank.
Loans from traditional institutions are pretty tricky
TJ:I needed money fast, and the bank offered me a loan that seemed manageable at first. But then those monthly payments started to choke me. The interest kept piling up, and before I knew it, I was using most of my profits to service the loan.
That’s a tough spot to be in. How did you handle it?
TJ: Honestly, it was a struggle. I had to cut down on everything – no more Friday night hangouts, no new clothes, nothing. It felt like I was working just to pay off the debt. I remember one particular day, I was looking at my account balance after making a payment, and it was almost empty. I just sat down and said, ‘God abeg, help your boy.’ It was a humbling experience.
Mehn! So what’s the lesson there?
TJ: Don’t rush into loans, especially the ones with high interest. If I had been patient, maybe found an investor or even saved up a bit more, I wouldn’t have been in that mess. It taught me the importance of planning and having a clear repayment strategy before taking on debt.
That’s solid advice. Now, let’s go for the final God Abeg moment
TJ: (Laughs)This one is actually a bit funny in hindsight, but it wasn’t funny then o! I decided to diversify and put some money into cryptocurrency.
Is this how you got into Crypto?
TJ: Yeah. This was back when everyone was hyping Bitcoin and all those other coins. I didn’t want to miss out, so I invested heavily, thinking I’d ride the wave to millions.
Oh no, I can already see where this is going…
TJ: Exactly! The market crashed like a bad Nollywood movie. One day, I was up; the next, my investment was worth less than half of what I put in. I couldn’t believe it. I was staring at my phone like, ‘God abeg, what kind of wahala is this?’ I was glued to every crypto news channel, hoping for a miracle that never came.
So, what’s the takeaway from that one?
TJ: Don’t invest in what you don’t fully understand. And if you do decide to take the plunge, be prepared for the risks. Crypto is not for the faint-hearted. You need to be ready for the volatility and only invest what you can afford to lose.
TJ, you’ve been through it all! Thanks for sharing these stories – I’m sure our readers will appreciate the honesty and the lessons you’ve learned.
TJ: My pleasure! If my experience can save even one person from making the same mistakes, then it’s worth it. Just remember – when it comes to money, always think long-term, and don’t be afraid to say ‘God abeg’ when things go sideways. We’re all in this hustle together!
