Why young Nigerians go broke, by Don Jazzy
Music executive Michael Collins Ajereh popularly known as Don Jazzy has attributed the financial struggles of many young Nigerians to poor spending habits. In a recent video, the Mavin Records
Music executive Michael Collins Ajereh popularly known as Don Jazzy has attributed the financial struggles of many young Nigerians to poor spending habits.
In a recent video, the Mavin Records founder said many young people exhaust substantial earnings on non-essential items instead of prioritising long-term value and meaningful investments.
He stressed that making informed financial decisions is critical to sustaining wealth.
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According to him, despite having the capacity for luxury spending, including high-end cars or even a private jet, he chooses to focus on family responsibilities and strategic investments.
He also underscored the importance of investing in personal development, citing his study of forex trading as an example of acquiring skills that can generate income.
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Don Jazzy maintained that building knowledge and investing in assets offer greater long-term value than spending on items that do not yield returns.
“Most young people go broke after making a lot of money is because they spend on irrelevant things and things they don’t need. I’ve been blessed enough for a long time to be able to afford any car that I want or even to buy a private jet or whatever but I have more important things to take care of, I have family to take care of… I’d rather invest in other things.
"There’s nothing that beats investment, including investing in your own self, including going to acquire knowledge of something you can charge people for. Even the Forex I’m learning now, I’m investing in myself,” he stated.
