Money Mistakes Young Africans are Currently Making By Javnyuy Joybert

Millions of young Africans think and believe that true success is only when you make a lot of money, but even if I could agree with them, with all the hard work they put in to get rich they are had been going nowhere and after observing my life, my close friends, family and asking questions to conference and seminar participants i discovered some key money mistakes that young Africans keep making on a daily basis yet they thrive and work so hard to be rich. Bruce Harpham will say “Successful people make the decision to become effective with money, many of them early in life”
1. Lifestyle Mistake
Well there is a popular saying in Cameroon that “looking good is good business” but what is the essence of looking good and proud in poverty. A good number of young people in Africa will always have access to additional cash but the first thing they think of is upgrading their entire lifestyle instead of setting a goal of saving at least 20% or 25% of the cash or starting up a small business venture

Read also: African Entrepreneurship: Another Dimension By Javnyuy Joybert

2. Investing in the wrong assets
One of the biggest mistakes i have seen young Africans make is buying luxury phones and cosmetics while they are still in job market or thinking of start up a business. My simple advice get a job, get a financial life, start up that business make sure is up and running before trying to keep up with the latest gadgets syndrome.
3. Getting loans without proper calculations
I have actually seen a young person borrowing money to buy a luxury phone….sad. But to me the worst mistake is getting a loan either for a start up business without knowing what their monthly income actually is and at the end they find it difficult to repay the loan. I made this mistake 2 years back twice and it has greatly affected my financial life. Please please don’t borrow money for a wedding.

4. No Budget
I asked a conference participant a question after my presentation when he came to me to complain about her difficult financial life. My question was ” Do you have a budget”? Her reply was “Sir am too young to have a budget and in school we were thought budgeting only in organisations/companies”. To cut the long story short i told her that if she wants to take control of her finances and stop facing difficulty as student in the university she needs to have a budget that works for her and track her spending to make sure that they are in line with her budget
5. Pressure from Friends
Millions of young Africans are always broke every Monday because their friends pressured them to spend money during the weekend. Not knowing how to say no has is causing millions of young Africans to spend money they don’t have. So if you can’t afford it just say no period. Stop struggling to please your friends who will dump you when you are broke

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6. Lending to friends
Lending money to friends is not a good idea. Either you make up your mind to help your friend if you are financially viable or you don’t. Because when you lend you are expecting payback and the friend may not payback because he or she thinks since you are friends there is no need to pay back and this will consequently affect your friendship and your finances.
7. Satisfied with Stagnant Income
Millions of young Africans have just one source of income and maybe that is from their parents in the form of monthly allowance. They dont look for ways to increase their income. Potential successful young people look for ways to earn more income and my dear friend the truth is increase income gives you more options for personal enjoyment “Njoka”
8. Leaving the family house soon
I made this mistake when i got my first job. Millions of young people are always in a hurry to leave the family house when they start making some few cash. My advice for you is to stay in your family house for a little longer, save lots of money.   
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About the Author
Javnyuy Joybert is a Social Entrepreneur, Empowerment Coach, Public Speaker and a dynamic, prolific and strategic Entrepreneurship/Business Management Trainer/consultant and a personal efficiency strategist. He is focused, question asker, answer seeker, problem solver and purposeful young African. He is the CEO of CELBMD Africa (, Head of Njorku Career Centers (, Country Director Consultant for C-Life (, COO of Most Influential Young Cameroonians Initiative, YALI RLC Fellow and Consultant with several community base organizations, NGOs and SMEs across Africa. He has been nominated and has worn several local and international awards. He is the author of How to Confront the Limits; he has lectured Business Management courses in two private universities in Cameroon for 5 years (2012-2016) and has been featured on numerous publications across the world

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