Thursday, September 15, 2016

He Doesn't Save At All.

Good afternoon ma, God bless and increase your wisdom daily!
I'm a 24 years old lady and I'm in a relationship with a 29 years old guy who is amazing (to say the least), but there's a problem. He runs this financial house that people invest their money and he pays them five percent of their invested sum every month
(honestly ma, I'm not a business person, and I find it hard wondering how you pay someone five percent of their sum every month, minus the invested sum, but he said it's his line of business, so I should trust him and just give him the moral support, which I am doing).
My problem with him is that he doesn't save. If he happens to get money, somehow he spends it all, I even beg not to be spent on, so he can save, but then it's as though people know when he has money, so that's when everyone (plus rich siblings) come to ask for money, down to his age group and his younger friends. If that was the only problem, I would understand, but then, someone invested in his company, let's say one million naira. Ordinarily he's supposed to invest this money and make his own profit, while also paying the investor five percent, but ma he has spent almost two-third of the money.
No matter how optimistic and supportive I should be, I know that it would be impossible or almost to pay this investor the five percent as agreed and still pay him his one million naira back at the end of the year. And, I've talked to him in the best way I can, but most times it turns to a little fight, him saying he knows what he's doing.
Ma, I have a bad feeling about this, because at the end of it all, he will either have to pay back this money with his sweat (which was not the intention). I intend to sit him down and talk to him, infact, I intend to put a hold on the relationship because as much as I love him, I don't think I'm ready to bear any financial debt with a man who made terrible financial choices (despite my advice and warning).
He is trying to make a living and I appreciate him a lot, but how do I go about this? Before I make a mistake or do something I would regret. God bless you

If you are not in the financial sector or have an understanding of how some financial schemes go about making their wealth, you would definitely be worried about every little thing they do. But I want to believe that your partner understands the implications of his financial decisions and he has already made the necessary adjustments to make sure that he meets up with his expectations at the end. 
Depending on where he invests the funds and the kind of scheme that he runs, there is every possibility that he can recover three times of the invested funds and refund the capital to the owner at an agreed time. 
Let me give you a little illustration, if someone deposited one million naira into his business, he's meant to pay fifty thousand naira every month for eleven months and then return the one million at the end of the eleventh month. The total money he is refunding is one million, five hundred and fifty thousand naira. 
Here is what you may not know about his business, there are some investments that can yield a double of his invested sum and there are some investment that gives twenty, thirty or fifty percent of the invested sum in a month. 
So don't make conclusions when you can make enquiries about his business and it's workability. Find out what he invests these funds into, the returns he makes on each investment and the payout time for those investments. 
Then you can suggest that he plan towards reinvesting his profits instead of sharing with others. Help him understand that there are other areas where he can invest his funds, secure the future, and minimise the chances of acquiring more debt. 
Let him know that you are not against his business nor do you wish to interfere in the ways or manner he wishes to spend his money, but that you're only concerned with helping him succeed without acquiring any debt.
If there are any other business ideas you wish to share with him, you can let him know about that. You can also offer to help save some of his funds just as a means to check his excessive spending. 
If the business is legitimate, and he has a genuine structure for repayment, then I won't encourage you to discourage him or infuse fears and worries into his vision, but pray, support, study and suggest ways that he can expand his business, and make more profit at a minimum cost.

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