How to gain financial freedom in Nigeria.

[Jubilee58]

Gaining financial freedom is a very challenging task, and requires financial discipline in order to achieve your financial goals and objectives, more especially in Nigeria where you must put in hard, discipline and patience.
Achieving financial freedom is a long term goal, and it will be very necessary to remain focused and hard-working while trying to gain financial success.

Here are some of the characteristics you must posses while you are on your journey to financial freedom.

Having more than one source of income is very necessary, while trying to achieve financial freedom endeavour to diversify your streams of income, because when you depend on one source of income you would be forced to face some financial setback, and thereby robbing your financial goals and objectives.For instance, if you are a working class, try and invest your money in order to avoid over reliance on your salary.

Another thing that will help you in your endeavour towards financial freedom is to have an emergency fund: Some times we face emergency, things that we did not expect to happen , so your emergency fund will help to handle such an unplanned event, instead of using the money that is meant for your business.

On your journey towards financial freedom, endeavour to reduce the rate of indeptedness, as this will help you to make some savings and plan for investment.
When one is heavily indepted, it will be very deficult for you to invest.
For this reason, if you are owing try and clear your depth in order to plan properly.

While trying to gain financial freedom,  patience and discipline is very necessary, building financial freedom is not a one day journey, it is a long term goal. So when you are discipline and patient enough you will definitely get to your destination, and avoid making decisions in a hurry.

Risk tolerance is very important, every one has risk tolerance, so make sure your investment is base on your risk tolerance, and more also invest in multiple asset in order to spread your risk while you maximize profits.

[Nonstop_H]

Op, thank you for creating this beautiful thread, expecially now that our country is facing economic hardship I think it is most needed, on ur above mention subject matter. Gaining financial freedom in Nigeria, firstly everyone now is expected to work smartly, be more intentional and enthusiastic and remain focuse, and be more discipline and on ur own avoid whatever that will collect money from you unnecessarily, as an employee whose earnings is not below minimum wage of our country, you are expected to save at least 30% of ur salary, you must find urself in a cor- operative organization that issue soft loan or grant to enable you invest as to ensure u have multiple sources of income all this and many more is capable of making gain financial stability.

[Yablee0]

Great topic you had here op kudos to you. Gaining financial freedom in Nigeria currently now is not an easy tasks especially now that many families merely feed two squares meal a day.

Even though things are hard their are still thousands and one folks out there doing it very big in their various skills and businesses however, here are some tips that can help you attain financial freedom here in Naija:

- Knowing what you are good at: just know what you are best doing and money will never be your problem, when you are exceptional in your craft, that skills you have as a handwork people will demand no one but you because you know what you are doing.

- Be the type that take advantage of business opportunity : most people's fails mostly because they love procrastinating instead of taking advantage of  some great opportunities when available. Most of the great people you see today are wealthy not just because of their ideas or what ever but because they took advantage of great opportunities when given. Therefore it is wise you take advantage of opportunity when you see it.

-Have a target as an individual : As a person aspiring to be great it's important you have a focus, know were you are heading to so that it can be easy for you to get there.

- Self discipline : this is the father of all because self discipline help keeps you in line with your purpose or goals.

[Mhizlove]

We all know that achieving financial  freedom in Nigeria is not just about luck but all about being deliberate in making thoughtful decisions that goes in with your goals and not just  pressure from the society. This happens with learning how to make money rather than how to spend it because most people earn daily and still struggle because they don't have plans, they can't save or invest wisely.
First stop spending unnecessary on expensive things and live below what you earn make sure you save regularly even if it's little, because consistency matters more than you save. Then you will put more effort or focus on investment like real estate , agriculture and small businesses. Let your money grow there,build diverse sources of income, don't depend on only one source build valuable skills that are in demand and leverage them to increase your income .
Lastly I will say that you should think long term and avoid debit traps because financial freedom you see is not just about having all you want at once it all about taking charge over your money so it no longer dictates your life. So I will say in Nigeria challenging economy, that independence is true freedom.

[TrialBitcoin]

Great topic you had here op kudos to you. Gaining financial freedom in Nigeria currently now is not an easy tasks especially now that many families merely feed two squares meal a day.

Even though things are hard their are still thousands and one folks out there doing it very big in their various skills and businesses however, here are some tips that can help you attain financial freedom here in Naija:

- Knowing what you are good at: just know what you are best doing and money will never be your problem, when you are exceptional in your craft, that skills you have as a handwork people will demand no one but you because you know what you are doing.

- Be the type that take advantage of business opportunity : most people's fails mostly because they love procrastinating instead of taking advantage of  some great opportunities when available. Most of the great people you see today are wealthy not just because of their ideas or what ever but because they took advantage of great opportunities when given. Therefore it is wise you take advantage of opportunity when you see it.

-Have a target as an individual : As a person aspiring to be great it's important you have a focus, know were you are heading to so that it can be easy for you to get there.

- Self discipline : this is the father of all because self discipline help keeps you in line with your purpose or goals.

Gaining financially freedom,one has to work smartly,set goals,grab every opportunity that comes your way and most importantly have a scale of preference so you just don't purchase what you don't need for the moment

[Dreadboost]

Having more than one source of income is very necessary, while trying to achieve financial freedom endeavour to diversify your streams of income, because when you depend on one source of income you would be forced to face some financial setback, and thereby robbing your financial goals and objectives.For instance, if you are a working class, try and invest your money in order to avoid over reliance on your salary.

In a state like Nigeria I think this is very important to gain financial freedom, I am not saying that your other points are not important,  but I really think that this is very important. Like you mentioned it's very important to diversify your income, this will really help you grow and you will be able to make good savings for future investments and even the emergency fund you talked about all comes from the income you make, that's why I feel this very important.
Discipline, patience and hardwork is also very important,  because financial freedom is something that you build overtime and you need the patience, discipline and hardwork to achieve it. It's also very important that you spend your money wisely,  you should try to purchase things that you need rather than purchasing things you want. I believe if you can put things things to work, you should be on your way to financial freedom.

[Oshio-man]

1st, U need to have business idea for u to gain financial freedom, we have see many big men and women in our country naija today that turned to millionaires through their businesses dey establish in d country, 2nd, u must have source of income to gain financial freedom which u have said it before, creating different companies or businesses to different environments, it will lift u to financial freedom because through d income u are earning can turn u to financial freedom, 3rd, influencers or connection can make u to gain financial freedom, if u are connected to politicians and big men in d country, it will make u to have financial freedom through them.

[Okosisie]

Gaining financial freedom is a very challenging task, and requires financial discipline in order to achieve your financial goals and objectives, more especially in Nigeria where you must put in hard, discipline and patience.
Achieving financial freedom is a long term goal, and it will be very necessary to remain focused and hard-working while trying to gain financial success.

Here are some of the characteristics you must posses while you are on your journey to financial freedom.

Having more than one source of income is very necessary, while trying to achieve financial freedom endeavour to diversify your streams of income, because when you depend on one source of income you would be forced to face some financial setback, and thereby robbing your financial goals and objectives.For instance, if you are a working class, try and invest your money in order to avoid over reliance on your salary.

Another thing that will help you in your endeavour towards financial freedom is to have an emergency fund: Some times we face emergency, things that we did not expect to happen , so your emergency fund will help to handle such an unplanned event, instead of using the money that is meant for your business.

On your journey towards financial freedom, endeavour to reduce the rate of indeptedness, as this will help you to make some savings and plan for investment.
When one is heavily indepted, it will be very deficult for you to invest.
For this reason, if you are owing try and clear your depth in order to plan properly.

While trying to gain financial freedom,  patience and discipline is very necessary, building financial freedom is not a one day journey, it is a long term goal. So when you are discipline and patient enough you will definitely get to your destination, and avoid making decisions in a hurry.

Risk tolerance is very important, every one has risk tolerance, so make sure your investment is base on your risk tolerance, and more also invest in multiple asset in order to spread your risk while you maximize profits.

It's best to Create a budget.
 A budget can help you accurately manage your money, By creating a budget, you can see exactly how much money is coming in and out of your account
Secondly Create a monthly household budget to ensure bills are paid and savings are on track.
Maintaining a budget is a routine that reinforces your goals.

[Berry2d]

Having more than one source of income is very necessary, while trying to achieve financial freedom endeavour to diversify your streams of income, because when you depend on one source of income you would be forced to face some financial setback, and thereby robbing your financial goals and objectives.For instance, if you are a working class, try and invest your money in order to avoid over reliance on your salary.

Another thing that will help you in your endeavour towards financial freedom is to have an emergency fund: Some times we face emergency, things that we did not expect to happen , so your emergency fund will help to handle such an unplanned event, instead of using the money that is meant for your business.

Yes multiple sources of income is a good step towards achieving financial freedom but the question is where can we find at least a job in the country now talk more of multiple jobs. In as much as Nigeria is concerns, the system, structure and Nigeria itself has failed in everything so performing there obligations now is becoming a major challenge.  Considering the level of mineral resources in Nigeria now and the rate of poverty I strongly believed the need diversification of government systems is indeed necessary because everything Nigeria is enjoying today where made available during the military region.

As for emergency funds, the economy is very hard that an average citizen finds it difficult providing one square mile for him and his family then making it difficult to even save for the Rainey days

[gracreavix]

If you want to have a  good financial freedom is Nigeria is when you have multiple source of income and not depending on 9-5 jobs salary which can cage you  and also limit your growth but having business, investments gives you financial freedom.

[Lancel0t]

I also think we'd also need to be versatile. Sure, we may have a goal or career that we are currently focusing on, but who know what tomorrow would bring with this country's unpredictable economy? What we can do is to spread out a bit to areas in the market that is within our interest (but not necessarily within our skillset). Then we hustle or invest in it.

Of course, we can't do everything at once (Body no be firewood) but we need to be more open for opportunities that comes our way and invest the best we can.

[JoyceBTC]

First of all for one to gain financial freedom, you need to have a goal, that is setting your goal which is just like a mindset you need to have. When you’ve set your goals, then the next step is to increase your income. You can increase your income by not only depending on the current job you are doing but diversifying into different things to give you more income. Then investment plans follow, you start a very good investment like Bitcoin, Gold, land and so many more. Investments will help you bring more funds, but just like Op has said, you need to be patient and also disciplined to make good profits from your investments.

[Big Dirams]

If you want to have a  good financial freedom is Nigeria is when you have multiple source of income and not depending on 9-5 jobs salary which can cage you  and also limit your growth but having business, investments gives you financial freedom.

People always see white collar jobs as an opportunity or let me say as a way in which they can run from financial difficulties but truth be told the first  day we get that white collar jobs and relatives have a clue that we are working then responsibilities start falling out from different angles.
Having a business as an attachment to our jobs will provide excess and support to our financial challenges but still we need to be very positive of any business we want to practice because a lot of risk are involve and no possibilities of having a successful business if we did not have good knowledge.

[Spaceman1000$]

The truth is that, as you are in a bad economy, it is very difficult to ascertain some economic status. first of all, there is even hardly availability of jobs for you to even say you want to I have multiple stream, and if you say, you want to be very meticulous with your savings, your saving will be eating up by inflation. In the Nigerian society hence your planning to be financially free, the government policies that are springing up will by one way or the other start affecting your financial freedom. So attaining financial freedom in this kind of environment requires extreme discipline from the person that wants to pursue that part, you will have to be keen and deny yourself a lot of things before you reach there.