For 2 years I was always broke. The day I make ₦10,000 in Lagos traffic, by 3 days later I’m borrowing ₦500 for pure water. I dey ask myself: "Where all this money dey go?"
Later I sit down and count. I realized I was making 5 stupid money mistakes. If you’re a young hustler like me — POS, barber, bike man, car wash, market girl — this post is for you. Avoid these mistakes.
1. SPENDING EVERYTHING THE SAME DAY MONEY ENTERS
Egbon let me be honest. The day customer pay me ₦6,000 for 3 SUVs in Bodija, my head go hot.
First stop: Meat stand. Buy ₦2,000 meat. Second stop: MTN and Glo. Buy ₦1,000 credit. Third stop: Friends. "Spray me na, money don enter". Give ₦500 here, ₦500 there.
Lagos own was worse. One day I made ₦12,000 doing POS and errands in Oshodi. That same night I enter club with boys. Spend ₦8,000 on drinks and shawarma. By Monday morning, I was trekking to work.
The problem: I was treating every money like "last money". I no get plan.
What I do now: The moment money enter my hand, I do "30-30-30-10 rule". 30% for food and house. 30% for business — soap, fuel, bucket, POS paper. 30% for savings. Even if na ₦500, hide am. 10% for enjoyment. So I no go feel like prisoner.
Since I started this in 2026, I no dey start week with ₦0 again. Whether Ibadan or Lagos.
2. BORROWING TO IMPRESS PEOPLE
This one pain me pass.
In Ibadan, there was one boy for our car wash. He buy new iPhone and drip. Every Friday new shoe. I say "I can’t let him shine pass me". So I borrow ₦15,000 from my oga to buy trouser and perfume.
In Lagos it was worse. I saw boys wearing designer and driving Uber. I borrowed ₦20,000 to buy sneakers so customers will "respect" me.
Guess what? Customer no increase. Money no increase. But debt increase.
For 3 months I was washing car and running errands just to pay debt + interest.
The truth: Nobody pays you because of shoe. They pay because your work is clean and fast.
What I do now: I hustle in silence. I wear clean clothes, but I no dey borrow to impress. When my money enter, I buy my own. No pressure.
Young hustler, your drip should not be on loan. Whether for Dugbe or Computer Village.
3. NOT TRACKING SMALL MONEY
"Ah na only ₦200". "Na only ₦500 for fuel". "Na only pure water".
I used to say that every day in Ibadan and Lagos.
One month I decided to write everything. You won’t believe it.
- Sachet water: ₦200 x 30 days = ₦6,000
- Bike from Dugbe to Bodija: ₦300 x 20 days = ₦6,000
- Danfo from Oshodi to Yaba: ₦500 x 20 days = ₦10,000
- Food: ₦1,000 x 30 days = ₦30,000
Total: ₦52,000 gone. Just like that. And I was asking "why I no get savings?"
The problem: Small leaks sink big ship. Lagos will finish you with "small small" spending.
What I do now: I use my phone note. Every kobo wey comot, I write it. At night I check it.
When you see where your money dey go, you go cut am. Simple. This works for both Ibadan and Lagos hustlers.
4. WAITING FOR "BIG CUSTOMER" INSTEAD OF SMALL CONSISTENT ONE
This mistake kept me hungry many days.
In Ibadan I will sit down at car wash and say "I no dey wash keke and small car again. I dey wait for Prado and Lexus".
From 8am to 4pm, no Prado came. I go home with ₦0. Tummy is empty.
In Lagos it was POS. I was rejecting ₦100 transfer because I was waiting for ₦50,000 transfer. Some days nobody came.
Meanwhile my friend Tunde was washing 10 small cars at ₦500 each. My friend Aisha was doing 50 POS transfers at ₦100 each. They made money daily.
The lesson: Small money daily beats big money "maybe".
What I do now: I take every customer. ₦500 wash, ₦1000 wash, ₦100 transfer, ₦50 transfer. All of them.
Consistency is what builds hustlers in Ibadan and Lagos. Not one big miracle.
5. NOT HAVING EMERGENCY MONEY
Rain fall for 1 week straight in June 2025. No car came to wash in Bodija.
My bucket got hole. I needed ₦3,000 to buy new one. I had ₦0 saved.
In Lagos, fuel scarcity hit. No light for 3 days. I couldn’t charge my POS. No income.
So I borrowed ₦5,000 from loan app. Pay back was ₦7,000. I spent the next 2 months hustling just to pay debt.
The truth: As a hustler, "dry season" must come. Rain, sickness, fuel scarcity, no light, police wahala.
What I do now: Every week, even if it’s ₦1,000, I put it in piggy bank or bank app. I call it "rainy day money".
I don’t touch it unless emergency. That money saved me in January 2026 when fuel scarcity hit Lagos and Ibadan.
CONCLUSION: START TODAY
Egbon, I’m not a financial expert. I’m just a car wash man from Ibadan who has also hustled in Lagos traffic.
I made all these mistakes so you don’t have to. Whether you dey POS for Yaba or washing car for Dugbe, the principles are the same.
Since I stopped these 5 mistakes, life is better. I can eat, save, and even help my younger brother.
You don’t need to be rich to start. You just need to stop leaking money.
Pick 1 mistake from this list and fix it this week. Next week pick another one.
Small small, we go reach there. God bless the work of your hands.
Which of these 5 are you making right now? Comment below. Let’s talk. Are you team Ibadan or team Lagos? 👇
From Investment4Business - Real stories for young hustlers in Nigeria
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