Things My Father Should’ve Taught Me About Money (But Didn’t)

Michael Ndubuaku
4 min readJun 1, 2023
Photo by Morgan Housel on Unsplash

Take a look around you. It doesn’t take a genius to notice the special treatment wealthy people get from society by default. That being said, it makes sense that the vast majority of the world live their entire lives constantly on the run — chasing the highly addictive drug we know as money.

The power and influence that money accumulates for its owners can differ depending on what part of the world you’re in, but universally, it’s a language we all recognize. Let’s not get it twisted though, recognizing something doesn’t mean you understand it. Few people in the world are lucky to have fathers or uncles who know enough to school them on this subject, but for those of us that don’t, we’re left vulnerable to all these so-called financial gurus and their books filled with jargon.

I despise the thought of learning about money from these guys simply based on the fact that most of them are not even rich. How can you teach me about a game you haven’t won? Instead of wasting my time with their opinions and theories, I prefer to focus on real-life examples of wealth creators. People such as Aliko Dangote, Femi Otedola, and Tony Elumelu. Besides being African billionaires, they’re all Nigerians. If you knew the slightest thing about the difficulties involved in operating a business in Nigeria, you’d understand why those three names are such a big deal to my fellow countrymen and Africans alike.

If we’re being real, no matter how many billionaire mentors you study, nothing beats real-life experience. We all have to make our own mistakes and learn from them in order to grow. I’ve made note of some of the worst financial mistakes I’ve made to date. If I were you, I’d learn from them because…

“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” — Otto von Bismarck

Spending it before getting it

If it’s not already in your possession, then it’s not yours to give away. Expecting to get money tomorrow? Wait for tomorrow! Spending what you already have with the hopes of getting it replaced is financial suicide. You’re always going to be better off waiting till you actually get it…