Store wealth so you can withstand diffïcult times — Media Personality Chude Jideonwo advises

Media entrepreneur and storyteller Chude Jideonwo has urged young individuals to learn how to manage their finances above social media and societal pressures.

In a recent interview, he reiterated the importance of investing in valuable assets that can withstand difficult times, rather than in perishable goods.

He shared an example of buying a house for himself at 24, after earning a substantial amount of money, instead of spending it on a car.

According to Chude, financial prudence is key, and individuals should never buy something that cannot be replaced immediately if lost.

He said:

“I bought my first house at 24. I got one big money and I went to buy a house in Lekki. I just bought a new car last year. “

“I had the same car for 10 years until the car was crying. I’ve never thought of car as a store of wealth. You have to store wealth, so that in time of trouble, you won’t land on the floor.

“Look, don’t make your decisions based on an influencer. In 10 years you might find out the person was broke all along. “

“Don’t make decision of your life based on followers that will not be relevant to your life in five years. Economy is down, cost of living is up and perception is also up.

“Social pressure is a very powerful thing. But it is a problem. Never buy a thing that if you lose it you cannot replace it immediately. That means you cannot afford it.” [CONTINUE READING HERE]>>>>