In this first episode of the Mo Money series, we speak to Cherish, a 27-year-old virtual assistant. She shares with us how love made her take a loan and how that loan nearly cost her a high-paying client.
What’s your relationship with Money?
Well for me, it’s like walking on ice. I am extremely careful and I treat it delicately. I never want to be out of cash, I think I have that stuff they call “Peniaphobia” (laughs).
Uhn Really?
Yeah. It scares me crazy.
Is this how you have always been or something made you like this?
Hmmm… Truth is I wasn’t always like this with money until I had one loan situation like that and since then I have tried as much as possible to stretch whatever money I have and I have never taken a loan again.
Wow! Now I want to hear this one
This was like 2021 and I had just started my career as a virtual assistant. I just had like one client at the time and the money wasn’t really good because I was just starting out, I was constantly on Linkedin looking for another client to add.
At this time, I was dating one mumu boy like that.
Hahaha… This is serious o
Yes o, that ***** messed up my life and just disappeared with no words till today. Maybe, he is even dead self (She sends some curses)
I’m sorry about that but what really happened?
His name is or should I say was Dapo (laughs). He used to work with one Microfinance bank like that when we started out, when they began to downsize during/after Covid he was amongst those laid off. He had this Toyota Camry he was driving, so we decided he should use it for Bolt.
Did both of you live together?
Yes, we did starting from 2020, the whole covid thingy.
Interesting… How was it?
Well… It was okay and helpful at the time because we were able to share expenses. Starting Bolt driving became the most practical thing to do, as my gig with the client was 85k per month.
Oh wow! For how long did he go without a job?
For about 2 months, he was looking for another job but nothing was forthcoming. He even tried some tech companies but no show.
How was that first month with only your income?
It was hard o! We even quarreled a lot that period because he was a big eater and a big spender. On some occasions, he would just finish stuff that was supposed to last us one week at the spot.
It was very frustrating for me as he was unwilling to be frugal considering that we just had only 85k coming and even by the time it comes, we were already owing the guy who runs a mini store opposite our compound about 10k.
That’s crazy o!
I never want to ever experience that period in my life ever again.
So he finally agreed to do Bolt driving?
That didn’t come without a fight either because I started talking about it from the end of the first month because the car was just sitting around, on some days he would take money from me or the mini store owner and fuel the car saying he was looking for a job and then he will come back when the fuel was almost finished with nothing to show for it.
Did things improve with him Bolt Driving?
At first, yeah. We were no longer owing the mini store in front of the house, we had slightly better food to eat. Things however changed when he started spending money on clothes and his looks. He will come back almost every 3/4 days with a shopping bag filled with clothes and shoes. When I spoke about it becoming excessive and unreasonable, he would get angry and yell at me about how I know nothing about how ones dressing determines the kind of clients one would carry and every other rubbish he could think of.
Wahala! Hahaha
Exactly! That was the beginning of our troubles.
So how did the loan come into the picture?
One day, Dapo came home looking all stressed and said his car had some major issues and needed repairs. He said he couldn’t work without it and begged me to take a loan for the repairs. I was reluctant at first, but he convinced me, saying it was a temporary fix and that he’d pay it back quickly once he was back on the road.
And you agreed?
Yes, I did. I took a loan of 250k from a loan provider. The interest rate was high, but I believed him when he said he’d pay it back soon. He got the car fixed and started working again, but the spending on clothes or an expensive lifestyle didn’t stop.
Oh no! What happened next?
I started getting worried because the loan repayment was coming up and he hadn’t saved any money for it. When I confronted him, he brushed it off, saying he’d figure it out. A week before the repayment was due, he disappeared. His phone was off, and he was nowhere to be found.
That must have been devastating.
It was o! I had to cover the loan repayment myself, and it nearly cost me a high-paying client who I had just manage to close that period because I couldn’t focus on work due to the stress. I had to borrow money from friends and family to make ends meet. It was a nightmare.
Did you ever hear from him again?
Never. He vanished without a trace.
Wow!
I later found out from mutual acquaintances that he had moved to another town and had been seen around with another lady who seemed very rich. It took me a long time to recover from that experience, both emotionally and financially.
That’s a tough lesson to learn.
It was. But it taught me to be extremely careful with money and to never take a loan on behalf of anyone. Now, I always have a financial cushion and avoid unnecessary debt. It was a hard one, but it has made me wiser.
Thank you for sharing your story, Cherish.
You’re welcome. I hope it helps someone out there to avoid making the same mistake.
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