The risk of winning or losing my hard earned money

in LeoFinance2 months ago (edited)
Times come when we have to make huge financial decisions, and beyond achieving our financial aim, there are implications our decision would have on us. Probably, this is why the financial decision is significant and would probably cost us other financial obligations. Here, opportunity cost and psychological considerations come in. Here is a little story of how my most memorable financial decision went.


THE NEED WAS A CAR

Needs remain unending, and resources are limited. We wish we could get everything we wanted, but life is not a bed of roses. The dream of every young man in his thirties is to have a car at least, and maybe a roof over his head. I had been driving since 2009, and when I had to go without a car for about a year, I could barely survive. So, I saved up some money and added it up with what I got from the sale of the previous one, which was faulty. With some extra money from my job, I was able to raise a fair amount.


THE TYPE OF CAR I WANTED.

I wanted a car, but beyond that, I did not want to settle for something I would not find comfortable in the near future. I had two options of cars: a Toyota Camry (2012 and above) or a Toyota Matrix or Pontiac. I loved the SUV nature of the Pontiac or matrix, especially the one with the hunchback, yet I preferred the executive nature of the Toyota Camry. If there is any advice I would give anyone wanting to buy a car, it is that the person should not make the mistake of buying Nigerian used unless maybe the seller is well known and truthful. So, I did not even consider buying a Nigerian used car because of the fear of encountering numerous head-aching challenges with the car.


IMAGE CREDIT IS MINE

WHAT I HAD VERSUS WHAT I NEEDED

I was able to get the sum of N3, 500, 000, which would suffice for either a Pontiac or Toyota matrix. The challenge was that, as much as I loved the SUV, I wanted something I could hold on to for a long time and would not get tired of. Some products of matrix and Pontiac were even close to N4, 000, 000. Thus, rather than rush into what I would not feel happy about in the long run, I preferred to go for the camry. The only challenge was that I was not going to get any foreign used 2012 and above camry for that amount. And holding onto money is difficult as needs always pop up.


SEEKING FOR FUNDS

I was not of the opinion of buying luxuries or items such as a car on borrowed money. I would rather stick with the available than venture into taking loans. I spoke with a friend of mine whom I consider my superior in the crypto space, and we had a positive history before now. My first millions in the crypto space were all thanks to him. He encouraged me to invest in a project with N130, 000 back in 2021, and I ended up having millions from it, even though not much, but I could say I conveniently got N3, 000,000 from my short-term investment. But the money I had was not one to gamble with or afford to lose. My coach (as I fondly called him) offered to have my money for an investment. He was good at trading, and he needed the capital.


TAKING THE RISK

I explained to him what I needed the money for and how much I needed. The offer was to grow the money into a 30% profit within a month. That was quite enticing yet risky. Suffice to say that my heartbeat during the whole one month was erratic. I almost wanted an everyday update but controlled myself not to. Luckily, he had a telegram group, and his success stories convinced me a little that all was going well.


GETTING PAID MY CAPITAL AND ROI

I was beyond excited and grateful when I got credited the sum of N4,500,000 a few days after the expected date of payment. It was about 48 hours delayed as a result of him getting the money out. Of course, I thanked him, but he told me I cannot imagine how much he made from my money. A deal was a deal, and he delivered; all the extras were his to enjoy.


IMAGE CREDIT IS MINE

GOT MY CAR

So, yeah, I opted for the Toyota Camry, which I have been enjoying since February 2022. It was not easy for me afterwards since I had crippled many obligations and pockets to get the car. I was satisfied with what I acquired and adjusted my living to be frugal and minimal.


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