A ponzi scheme gained entrance into a university and the set of people that bought into it most were lecturers. Quite a chunk of these revered academia joined the scheme and were cashing out. Some went further to borrow money from bank and put it into it. Most of them reinvested their interest , hoping to get more returns. Just when they were all settled into the scheme, the operators of the ponzi scheme pulled the trigger and cash out on all of them. They lost all their money and have to repay loan while they lick their wounds. They were academia but they lack street and financial intelligence. After years of leaving the four walls of school, you will understand that there are others forms of education and intelligence. Book knowledge is not enough on the street. It is just one of the legs of intelligence. How can idiots dupe professors? Who is smarter, the fraudster or the defrauded? Well that’s not the first time this will happen, and it wont be the last time. This incident brought light into this passage; “Great men are not always wise, neither do the aged understand judgement.” Job 32:9 . So it is possible to be educated and be foolish or educated and be a financial illiterate. One of the areas you must develop intelligence is money. You need money sense.
Money is hard to come by these days, so if this is not the time to make fat profits, this is also not the time to lose money to some mischievous elements. Thieves and fraudsters are on the rampage, Don’t allow them to take advantage of your own greed. In most cases they don’t use charm, they just spot greed or ignorance and explore it.
Take your major money decision patiently, carefully and after a thorough consultation. Invest in what you are knowledgeable about. Know that first principle of investing money is the security of the capital. Don’t be emotional on money matters. Beware of transnational Christianity. Give willingly, cheerfully and periodically but beware for those who use the pulpit to scam God’s people. They are the younger brothers of ponzi schemers.
Greed is opens you up and make you vulnerable. “The twin killer of success are impatience and greed.”- Jim Rohn. When it comes to money matters, tread softly. A greedy person will act foolishly and will always be gullible. These twin heart conditions will never allow you to see the bobby traps along your part when making major money decision. There are offers that are too good to be false and the respect you have for the one introducing these offers to you will not allow you to fault it. It takes wisdom to navigate such tricky terrain.
“A gracious woman retaineth honour and strong men retain riches,” Proverbs 11:16.
Today, put on your money sense cap.
Remember, this is not the time to lose money. This is not the time to learn how not to lose money by experience.
I am Pst Femi Ajayi