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The litmus test for economic<br />
expenditure is as follows;<br />
• If you have not yet built your own house<br />
then you should not drive a car worth more<br />
than N2 Million Naira<br />
• Before you spend N10 Million Naira on a<br />
car, you should make sure that you have at<br />
least N100 Million Naira in the bank. Cars<br />
are not investments but liabilities and they<br />
lose value quickly. If you buy a brand new<br />
car for N20 Million Naira today you can rest<br />
assured that within 1 year that car would<br />
have lost <strong>almost</strong> 40% of its value. That<br />
means that you would have lost close to N8<br />
Million Naira in just 1 year<br />
• Live below your means and stop following<br />
the Jones’s. You don’t always have to buy<br />
the latest phone in the market and besides,<br />
new phones come out every month so you<br />
can never win that race no matter how hard<br />
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