11/09/2022
I suggest that you don't sign up for ANY loan within the first year of getting your permanent job, or a long running contract. There's usually a lot of excitement and you get a flood of ideas about what you can do. What with all those pending things you wanted to do when you get money? Which one to start with? It's at the height of this whirlwind that loan merchants approach you with luring offers and if you're not careful you'll wake up when you've made very unwise decisions.
The best thing you need is to pay a financial coach but that's usually the last thing on your mind because you don't recognise the problem you're in.
Generally, avoid consumer loans like a plague. Consider only investment loans, but even then take enough time to do research and pilot runs before taking one.
Also, financial institutions are very greedy when they see a clean payslip that has no loans. You don't even realise where they got your phone number from, all you see are unsolicited marketing messages and calls from strangers sales people.
Plant it in your head that they're not there to offer you money; they're there to take your money.
Do not over promise your kinsfolk that you'll do them abcd when you get a job because many will take it as a debt.
Do not broadcast your new status too soon also. If you were working on temporary basis with a small salary and you finally get a permanent one, you don't have to announce it home if you already know what will follow. A landslide of needs and expectations. You can play low and take one year to cool off and plan.
You don't have to instantly upgrade your house because, again, everything is related and if you don't take time to think you'll get it wrong. You'll buy furniture that can't fit the house, for instance, then have to get a bigger house not for you but for the furniture. And then you need to fill up the big house with more costly installations, etc.
Learning how to remain calm even when you have good news is an important life skill. Unchecked excitement can lead to blunders.
(ÂŠī¸ Benjamin Zulu Global)