Entrepreneur's Corner

People Who Become Temporarily Insane When They Get Money

BY Juma · July 31, 2023 10:07 am

KEY POINTS

As soon as the money lands in their bank account, they become first-degree candidates at the Mathare Mental Hospital. They forget all the plans, and all the promises and turn into totally different human beings building castles in the air.

Have you ever come across human beings who become temporarily mad when they get money and normal when the money is finished within a short time? Like they are always reasonable and sweet human beings until they receive money?

They will have some great plans when they don’t have money. They will have investment plans, roadmaps to clear debts, great money motivational quotes, quoting the Bible verses here and there, make great promises here and there, until money lands.

They will go into a shopping frenzy, of the things that they had not planned about. Become philanthropic to anyone in need, mostly those who have never been there for them in time of need, and before you know it, they are as broke as a church mouse.

Now, is this temporary madness in sight on money treatable? Yes. It is not a permanent condition. There are four ways that one can use to treat this condition:

Find out in what mode you waste money: There are people who waste more money when it is on M-Pesa or banking apps than when they have it in hard cash. When they have M-Pesa, they are 99 percent more likely to purchase anything as well as “donate” to people. So, find out whether it is the soft money, hard cash, or both that make you run mad.

Find out what money makes you mad the most: Is it business money or personal cash, or both? If it is business money, get a second signatory so that you do not have express access to the money. Get a “strict” accountant who would help tame your appetite. For personal cash, be disciplined. Have good manners when around your own money.

Have written plans before you get the money. Do not just be planning good things you will do when you get the money without writing them down. Have them on sticky notes or on paper and place them where you can see them from time to time to remind yourself.

Have different bank accounts. Sometimes the madness might be too deep-rooted to be contained and the only way is to have at least two bank accounts. Now, if the cash lands in one, you divide the cash into the other account and remain with one that is dedicated to your madness of spending.

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About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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