Taofeek Abdulazeez - Grass To Grace Project, Lajonrin Street, Ilorin (2026)

10/09/2025

CAN MORE MONEY REALLY SOLVE A FINANCIAL PROBLEM?

John is a hard-working man, newly married to Sandra, has just rented a comfortable apartment, and is living happily.

Both are earning a good income from their work, so they decided to have a child, since that's the fruit of a successful marriage.

Sandra sees her neighbor moving out of the rented house to their newly built house; she advises her husband to start building a house with their savings.

John yielded to the advice and in a year, they moved to their new house as well.

“Now, they not only have expenses, they now have liabilities they thought were assets”. Let's continue.

The child grew up and needed to enter a good school. John got a promotion, making more money, but more expenses and Liabilities.

Soon enough, his and her wives' income can't maintain their living expenses, let alone putting a child in a good school.

They want to look rich too, so they applied for a loan to get a car and put Joseph in a good school.

“By now, they now added a loan to their liabilities. The RAT RACE is set”

They wake up every morning to go to a job they feel tired of going to because the salary is not enough, again, not when the bank is removing the percentage for the loan.

They become more frustrated year by year, though they look rich but they are actually poor.

35years have passed and John retired. He can't stop working because he has expenses to pay and Liabilities to maintain, so he applied for private sector work. John is now planning to work for the rest of his life.

Her wife? Well, she is making enough money to support herself. When she retired too, John founded her new small provisions shop for her to have something to do.

They live the rest of their life looking rich because they have a personal house and car, and die poor.

===================================
===================================

The name changes but this is the reality for many young couples after years.

Going back to the question. Can making more money solve your financial problems?

I don't think so. But having financial education will do.

What John and his wife Sandra did not realize was the difference between Assets and Liabilities, and to invest in assets first before buying liabilities.

They lack financial education. They don't manage their money well.

Are they making money? Yes. But what they do with it is not wise. That is why, after 35 years of working, they are still poor. They are in the “Rat Race”.

Don't let those couples be you. Spend your money wisely. Invest first, then buy liabilities later.

Personal houses and cars are good and necessary, but don't make the mistake of buying them first. Buy assets and let your assets buy them.

PS: A rat race is a race where you think you are progressing, but you end up back at the same spot you started. It's going to a job, getting a salary, spending it all, and repeating the cycle the following month. Don't be trapped.

Taofeek Abdulazeez

08/09/2025

I'm pursuing my dream, while you said I'm hitting an egg against a stone. But remember, a consistent drop of water can create a hole in a stone.

03/09/2025

REAL ASSETS VS. FAKE ASSETS

It’s important to discuss the distinction between real assets and fake assets, which are actually liabilities that people mistakenly believe are assets.

For the sake of this discussion, I want to highlight two common items that many people find hard to believe are liabilities.

They often tie their entire fortune to these items, believing that owning them means they possess valuable assets. However, this is not true.

The two items are a PERSONAL HOUSE and a PERSONAL CAR.

Just because something is labeled as an asset by a bank doesn't mean it truly qualifies as one.

Believing that these two items are assets can create an illusion of wealth, but in reality, many people who hold this belief end up being financially poor, often referred to as the "middle class."

This misconception causes many to lose focus on acquiring real assets, which can lead to financial struggles after retirement when they no longer have the strength to work.

I want to emphasize the term "personal" because these two items can be assets under certain conditions.

To clarify, let’s turn to a simple yet profound definition of assets and liabilities by Robert T. Kiyozaki:

"Assets are anything that puts money in your pocket (or bank account), while liabilities are anything that takes money from your pocket (or bank account)."

So, does your personal house or car put money in your pocket? The answer is no. In fact, they regularly take money from you. You need to furnish your house, repaint it when it fades, and repair plumbing issues when they arise.

Similarly, with your car, you have to buy fuel regularly, service it, change the tires, and take care of other maintenance costs. These expenses add up and take money from you.

You might argue, “But I can resell it and make money.” While that's true, it’s worth noting that your house or car loses about 25% of its value immediately after you purchase it.

Even if you manage to sell it for a higher price, inflation will likely erode the purchasing power of that money. Do you see the point?

Moreover, we cannot classify an item as an asset if it doesn't generate income for you. It must be an income-producing asset to contribute to your financial freedom. I hope you understand this concept.

Now, let's identify situations in which a car or house can be considered an asset.

For instance, if you use your car for commercial transportation and receive regular payments, then it becomes an asset. Likewise, if you lease your house for rent, it is also considered an asset. I hope you are following along.

In conclusion, your personal house or car should not be regarded as assets; rather, they are liabilities. A house or car can only be an asset if it generates income for you.

By understanding this, you can better focus on accumulating real assets instead of falsely believing in what they are not.

Till next time,

Taofeek Abdulazeez

01/09/2025

PAYING YOURSELF FIRST: The First Step to Wealth

In the previous discussion on "Your Saving Habit," I emphasized that paying yourself first is a key component.

Let’s dive deeper into this concept and explore practical ways to apply it in your life.

Paying yourself first is a practice embraced by every wealthy individual from the early stages of wealth accumulation and continues throughout their lives to sustain it.

As I mentioned before, "it's not just about saving; it’s about how and what you do with your savings." The manner, timing, and purpose of your savings are crucial, which is where the idea of paying yourself first comes into play.

Paying yourself first means setting aside a specific percentage of your income for savings before you spend any money. This percentage typically ranges from 10% to 30% of your income at the beginning. Once you have mastered this habit and increased your income sources, you can aim to save up to 50%.

For example, if your monthly income is 100,000 naira, you should remove 10,000 naira (10%) and transfer it to your savings account before spending anything. Alternatively, you might choose to save 30,000 naira (30%) and live on the remaining amount.

Make it a habit to set aside this percentage before you make any expenditures. Importantly, shift your mindset away from spending this money; instead, focus on purchasing income-producing assets. My next discussion will address this topic, as many people mistakenly acquire liabilities rather than true assets.

Acquire assets and allow them to grow. Reinvest any profits generated from these assets. Continue this process until the income from your assets can cover your expenses. At that point, you will be considered wealthy.

Keep going until your assets can also cover your liabilities and discretionary spending, and you will achieve true richness.

In summary, consistently set aside a specific percentage of your income before making any purchases, and keep acquiring income-producing assets until they cover your expenses and liabilities. This practice will lead you to wealth.

P.S. If you still haven’t received the two books yet, feel free to request them.

Until next time,

Taofeek Abdulazeez

28/08/2025

YOUR SAVING HABIT

Saving is profound and goes beyond merely accumulating money; in fact, saving money is just the starting point. The key aspects to consider are "when and how do you save?" and "for what purpose?"

I initially adhered to the common belief: "work hard, spend wisely, and save the rest for a rainy day."

What does "rainy day" imply? It typically refers to an "emergency fund." Many people save for expenses or liabilities as well.

I have learned about saving from two mentors through their books: “Rich Dad Poor Dad” by Robert T. Kiyosaki and “The Richest Man in Babylon” by George S. Clason.

In Rich Dad Poor Dad, I learned the principle of "paying yourself first." Many earn money, pay their expenses, service their liabilities, and then save whatever remains, which is often very little. They save only when they have leftover money, which happens infrequently.

Moreover, what are often labeled as "savings" aren't truly savings. Instead, they're merely funds set aside because when any need arises, individuals dip into those "savings" and spend them.

The concept of "paying yourself first"—which I will discuss in greater detail in future content—means setting aside a certain percentage of your income (at least 10%) and transferring it to your savings account immediately when you receive your income, before spending a single naira/ dollar. It’s about saving first, not saving leftovers.

The second book, The Richest Man in Babylon, elaborates on how to organize your savings percentage and the intended purposes for those savings.

These savings are not meant to be spent later; in fact, you should aim to forget about spending them. You need to learn how to live on the remaining money after deducting your savings percentage.

Question: So what is the purpose of the saved money?
Answer: For the acquisition of assets. For investment.

I will discuss this further as well, but for now, have a great day!

I hope you’ve learned something.

P.S.: Do you want to receive copies of the two books mentioned? Comment "YES" below, and I would be happy to share them with you.

26/08/2025

If you can translate buyer psychology into your content, tapping into how people buy and connecting with that emotion, you will boost your sales.

17/08/2025

You can't move your business to where you want it to be if you don't know where it is now. You've got to EVALUATE it. Remember, numbers never lie, and business is a numbers game.

We can tell how well your business is running by the revenue you are generating.

15/08/2025

Get this right.

If you’re not making as much money as you want, if you feel like you’re working harder than ever but still not getting ahead, and if deep down you know you are capable of so much more but can’t seem to break through, consider this:

It is not the economy.
It is not bad luck.
It is not even about working harder.

The truth is this:

Most people never break through because they wait for something to change instead of changing themselves.

They tell themselves:

"I will take action when I have more time."

"I will invest in myself when I have more money."

"I already know enough; I just need to do the work."

Before they know it, another year goes by, and nothing changes.

Same struggles. Same stress. Same income level.

But here’s what the successful people do differently:

They do not wait for "someday."

They take FULL RESPONSIBILITY.

They take charge of their lives.

Remember, it all starts with you.

14/08/2025

Money making is not a mystery, money making is a formula.

If you are not making money, it's either that you don't know the formula or that you are not applying it.

12/08/2025

Money gives you power and peace of mind if you earn it diligently. If you reach a point in your life where you don't have to worry about how to pay your bills and your material things, that's when you can freely pursue your purpose in life.

Taofeek Abdulazeez - Grass To Grace Project

10/09/2025

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