You know that thing life does where it humbles you just when you think you’ve figured it all out? Yeah, Mike knows it too. Intimately. This is the story of how he started the year with hope, hustle, and savings… and ended up staring at his rent money disappearing not once, but twice, thanks to a series of unfortunate decisions.
In this raw, eye-opening story told to Fusion, Mike breaks down what went wrong, and what he’s learned.
Let’s get into it
Let’s Start From The Beginning. How Much is Your Rent and What Was Your Financial Situation Like at The Start of The Year?
My house rent is 280K, plus some service fees that’s 300K, and my shop rent is 150K. My financial situation at the start of the year wasn’t so bad, although I made my first serious financial mistake at the start of the year. As a shoemaker, I make around 80k in bad months and 150k in good months from my shop. That money made me live comfortably to afford all I wanted or needed, and I diligently had some savings.
I had sports betting as my side hustle because I was making some money from it even though I also lost some money. I’ve always been a fan of sure games and 2 sure odds when it comes to sports betting so that affected my finances to some extent but never to the point where I’m behind on my rent, like to the point I don’t know where to turn or how to pay.
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What Happened When You Say Your First Serious Financial Mistake?
I usually don’t forecast games myself because I don’t know how to do it. A friend of mine usually sends booking codes to me so I just go through them and play. On this faithful day, I tried to forecast by myself and lost over 130k that week. My hope was I still had money in my savings. But after realizing how much I’ve lost, I reached out to a channel that sells sure games.
I wanted to make my money back as soon as possible, so I paid 10k and was given a forecast that I played with 20k and I won 90k. After that, I was very much interested in trying again. This time, they charged 30k for their VIP games and I paid for 2 without thinking much about it. I played those games with most of my savings and guess what? I lost it all, I literally cried that day.
Sorry About That, What About The Second Time?
Hmmm, the second time was around April when Cbex crashed. I heard about it from some customers who told me they had physical offices around Nigeria and were certified but I didn’t pay much attention to it.
The hype around CBEX was loud but not louder than my hatred for Ponzi schemes after what MMM did to my elder brother. Until some of my friends started sharing updates on how they had doubled their money in weeks and how legit Cbex was. They showed me their earnings and how much they’d withdrawn.
It felt like the perfect opportunity to make my rent and some extra cash back. So, around March, I gathered all my savings, as in everything, including the little I had managed to set aside for rent after my sports betting yawa, I took some loans and invested them in CBEX. I prayed, I fasted, I saw my money increasing on their platform but CBEX had other plans.
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Looking Back, Would You Say It Was Bad Luck, Poor Planning, or Life?
Honestly, I’d say it was a mixture of all three but mostly life doing what life does best, humbling me. Greed was also a part of it because if I was contented with what I had or disciplined myself not to touch my savings then I wouldn’t have ended up in those situations.
For my sports betting yawa, I let desperation drive me into that hole and the fear of missing out made me fall for the CBEX scam. They had offices around Nigeria and my friends showed me proof so that made me feel like they were legit and I didn’t want to miss that awoof.
How Did You Maintain Your Steeze?
Omo! I did not maintain steeze oo. I was on the verge of losing my mind especially when it happened the second time. All I was saying at that time was “Why me?”.
That Must Have Broken You Down. Did It Change Your Hustle and Saving Mentality?
For a while, it felt like I was starting over again, but I just couldn’t let that stop me. I’ve never been this serious with my business in a very long time. Now, I regularly update my Business WhatsApp and Fusion store. I’ve also reached out to a few good boutiques around me, and one has allowed me to sell some of my best footwear in their shop for a percentage.
I’ve learnt that when it’s money you can’t afford to lose, be extra careful. No more “my guy said” or “One guy cashed out” or “This game is very sure.” Anything quick money, I’m not interested. Now I’m learning to discipline myself more when it comes to saving. Once beaten twice shy, before I let greed chop my eye.
ALSO READ: The Hustler’s Guide to Saving Money in 2025
If You Made Your Rent Back Right Now, What Would You Do Differently This Time?
Straight payment! I’ll not even think about it twice. And if I’m able to save up for my next payment on time, I’m looking to invest with Bamboo on Fusion. At least I know that’s not quick money and I’m sure that I’m not losing my money or touching it until it’s time to pay my rent again.
If Your Landlord Was Sitting in Front of You Right Now, What Would You Say to Them?
My landlord started calling me tenant of the year and was always asking me if I’m the new owner of her house. Thankfully my Landlord is a chill lady so I’ll say thank you for not stressing my life too much Ma.
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