5 teenagers’ money minds

Colin Natwijuka | 27th May 2020

Productivity
5 teenagers’ money minds

5 teenagers’ money minds

Colin Natwijuka | 27th May 2020

Productivity

I have had a number of interactions with teenagers on attitude towards making money as they grow. Most teenagers’ money minds are, I am still young and have enough tomorrow to make more money.   Time for money making A big number of them confessed that there is enough time to make money as they are still young and strong. They say time is on their side and also as they have young brains that grasp ideas very fast allow them to gather lots of money wherever they want to. I like to give a belief example on my lifestyle as a teenager, whenever my mother gave me an opportunity to work on her grocery, I could collect some small change daily on profits and use it to buy clothes as if I did have other pairs of clothes. Compared to other families ours had an opportunity to expand the business as it was the only one in the whole village at that time.   Past experience T...


I have had a number of interactions with teenagers on attitude towards making money as they grow.

Most teenagers’ money minds are, I am still young and have enough tomorrow to make more money.

 

Time for money making

A big number of them confessed that there is enough time to make money as they are still young and strong. They say time is on their side and also as they have young brains that grasp ideas very fast allow them to gather lots of money wherever they want to. I like to give a belief example on my lifestyle as a teenager, whenever my mother gave me an opportunity to work on her grocery, I could collect some small change daily on profits and use it to buy clothes as if I did have other pairs of clothes. Compared to other families ours had an opportunity to expand the business as it was the only one in the whole village at that time.

 

Past experience

The poor mentality of “I don’t have experience” of money-making, instills fear in the minds of an African teenager that has led to the continuous lack of money. Most teenagers will tell you that, the experience is the challenge faced in looking for money, you will never get experience before you start something. The experience most successful people in the world were from nothing to something. Look at the example of the wealthiest man in Africa and at what age did he start making money, “Aliko Dangote remembered that during his primary school education, he would go out to buy candy cartons and then sold them to his peers to make some money.

 

Mentorship

Lack of mentorship, some of the challenges why most African young people do not appear on the list of the wealthiest moguls in the world, and even not among the first 50 on the Forbes list is lack of mentorship. Examples of Dangote, is not the kind of man “from rags to riches” He came from a wealthy family that was able to provide financial assistance to start his business. His story is that of a child every wealthy parent dreams of. The child who doesn’t need to inherit his/her family’s properties, but one who can turn a loan given to them into a multi-billion-dollar empire. Over the years, Dangote has expanded into new business segments, including telecommunications, real estate, and steel manufacturing. This kind of support as part of mentoring.

 

Inheritance

Apart from Isabel dos Santos, who inherited the wealth of the father when he is still alive, most Africans inherit their family’s riches when they are already dead. This is a more old fashioned way of making money, as it lacks mentoring and sustaining the wealth of the deceased. Isabel has maintained the status of being the wealthiest youngest woman on the continent of Africa because, she has the living mentor. Unlike most young people in Africa this is not a common practice from rich parents. Another example is Mohammed Dewji of Tanzania who is the youngest and the richest young man at the age of 42. He inherited a textile and edible oil group from his father and has expanded its operations.

 

Don’t Please everyone

You don’t need to please anybody, try to do it your way, as you focus on pleasing everyone will deter your progress and motivation. The money will never be enough for everybody, as you start a business if Africa, relatives, and friends, will not hesitate to come with all sorts of life challenges to be sorted by a young growing businessman. With the old mentality of, “I have to help whoever comes with a problem” has let most starters fail to grow as they wanted to please other people. This mentality is in most developing nations in the world. I don’t promote selfishness, however, if you can’t help because you don’t have enough, it doesn’t mean, you deserve to be penalized for anything. You have to be focused on money-making in Africa. We have got a lot of avenues of making money in Africa and the continent is rich with forests, soils, waters, minerals, and all in all enough affordable human resources, “cheap labor”. I wouldn’t like to call it cheap labor, as it’s marginalizing the most cable highly skilled Africans.


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