It is not uncommon to see people attempting to live extravagant lifestyles even when it means living beyond their means – and, in the process, saddling themselves with unnecessary debts. Even if we are not living beyond our means, the temptation is there, almost like a battle ranging between good and evil! The following should help us remain focused and ensure we are on track to weather the economic climate.

Know yourself: What is important to you? Who do you aim to be, to be true to yourself or to belong? What are your priorities in life? Your perspective, your, your innate values and your beliefs will go a long way in determining how you respond to the pressure to own the latest fad, drive the biggest or most stylish car, or hang out at the trendiest place.

Know your limits: If you plan on heading anywhere, be it financially or otherwise, the first thing you need to know is where you are – your starting location and your co-ordinates. Having a good grasp of your total earnings and outgoings, including money you need to set aside for savings and investments, enables you to be very  clear on what you can or can’t afford.   

Remain focused: This requires you to have clearly defined goals of where you are heading, which helps you determine whether your short-term spending decisions are taking you there. If you have a goal of furthering your education or buying a house, say, does spending N270,000 on the latest Gucci handbag or shoe take you closer to or further away from, your goal? Since medium- to long-term goals seem to take a while to achieve, it is easy to get distracted and lose focus.

Build your financial repertoire: It is important to develop the ability to discern good debts from bad debts. The difference between a good and bad debt is in appreciation or depreciation. So perhaps purchasing a property in Ikoyi, as opposed to Ikeja, may be expensive and trendy, but it may be a worthwhile investment – a “good debt” – because it surely must appreciate better and faster in value. However, car loan debts depreciates at a rate of about 20% to 30% once driven out of the car dealership, you are going to have to pay both the principal amount and the interest due, which invariably means paying more money than was borrowed on a depreciating asset. Property can be used to give capital appreciation and fixed rental income, so you can  ‘buy to rent’ property for investment purpose. 

Open the door to the exciting world of property investment by just clicking on Marock Resources 

This is where my company comes in. Our job is to make you a property investor. If you dream of owning properties for investment purposes, we can help make it happen. 

You too can become a property investor. This means you are the owner of landed properties being used by others. This is quite different from owning properties used by 'you'. These can be empty plots, single flats, houses, offices, warehouses, shopping malls. You are only limited by yourself. 

‘Be Bold’ Is Our Talk 

We want to be your one-stop shop for your real estate services. We will rent your houses and office space, buy your landed properties, and build your houses while you face your business without distractions.