Why hustlers and young business people go broke

Good morning 😃☀️🌞 

Today I want to talk about a mistake I’ve seen hustlers and young business people do in the past 10 years and I did it too.

You see when I was in varsity back in 2017 I sold cool time and mayo and in a month made P1000. If you ask me what I did with the money, here’s the answer:

I DON’T KNOW!

Yes I don’t remember what I did with the money. It vanished, and so as many other hustlers out there who made a lot of money, selling fat cakes, tutoring students, selling sneakers and a lot of things but ended up broke looking for a job or funds again years later.

The reason why hustlers go broke and end up having no money even though they were balling at one point is due to what they bought. I remember reading a quote by Witness Mdaka about how most millionaires become millionaires because of what they buy not just what or how much they earn.

Most of hustlers and young business people are not taught to buy assets like stocks, etfs, machinery that can generate income for us without us being there that’s why they end up back to square one. I personally know someone who went through this, but thankfully they are back on their feet, but imaging they found out about investing in etfs back then and put in P10 000 in them, seven years ago.

Even though he’s back on his feet and many other hustlers my mind keeps asking if he’s gonna work hard like this until old age since he’s self employed and so for many hustlers, what if the young hustlers and young business people invest in stocks and ETFs or form motshelo for property?

They wouldn’t need to always work extremely hard for the rest of their lives but have cashflow one assets and dividends, isn’t that better?