Saturday, 17 December 2016

Life Lessons We Learnt From The MMM Scheme, even the President

“This MMM thing works oh!”
“See, people are cashing out!”
“Ol’boy! Pesin don buy car on top MMM o!”
These are some of the more common phrases we have heard this year about the Mavrodi Mondial Movement, popularly called by its acronym, MMM.

While many skeptics hung back to watch the much braver ones invest either “loose change” or their life
savings into the scheme, others took to it like it was the latest business venture in town, quitting jobs and selling cars and property in order to have enough funds to allow them invest and “cash out big”.

The first batch of investors were the luckiest. Propelled by the influx of new members and “investors”, the returns were swift and bountiful. People were buying cars, houses, feeding families, paying school fees. It seemed like God was really answering all the prayers asking for a way out of the stifling Nigerian recession.
MMM was Nigeria’s recession-saviour; the recession-solution, the answer to all Nigerian’s prayers for a quick and easy way out of the struggle the recession was dragging the country into.

The second batch of investors were converted skeptics. The ones that only needed to see that the system could work to believe. They were lucky too. They cashed out; paid debts, fees, rents.

There was still a healthy amount that remained skeptics. The first-timers were not enough to convince them to join the movement. But they soon became believers. It would not take long to convince them. They only had to see the hard recession life coming for them and the struggle to afford soaring prices at the year’s end.

They would join in, and in a bid to cash in big for the Christmas celebrations, they would plan to cash out close to the festivities, but they would be too late. The Mavrodi Mondial Movement would anticipate their tactics and freeze their money before they had the chance to let the system crash and lose the money for good.

As expected, many are lamenting the move. It’s not going to be such a merry Christmas celebration for some after all.
But there’s a lesson here, and it is a reminder of a popular proverb which tells us not to put all our eggs in one basket. With our money being the eggs, and our basket being MMM, as much as every investment will carry it’s own attendant risk, it is important to tread with caution and a good deal of wisdom in order not to end up “egg-less”.

Another lesson this has also taught is also poultry related and it tells us not to count our chicks before they hatch. For many who had made plans with the expected money they were to receive from the scheme, this is an important lesson for the future.

Cash in hand is better than cash at the bank, or to use yet another poultry-related proverb, a bird in hand is worth two more in the bush. Never put your mind on money you don’t have yet, that’s just a recipe for disappointment.
The third and final lesson we learnt from this is two-fold. One, always be prepared. Anything can happen. House can collapse, tanker can fall, Ponzi Investment schemes can crash, so anticipate and prepare for these disasters.

How? That’s the second part. Always have a back up. Have a back up plan or system in place in case something happens. If you’re a parent with a family or even just an individual with dependents, have a will in case of serious life threatening occurrences.

For other stuff, just have a foolproof plan B, C, D and maybe E for good measure. Have something you can fall back on in case stuff decides to go to shit.
As we have established, life is unpredictable, and when “life happens”, you can’t look to Government for a bail out or shift blame to figure out whose fault it was from the onset, you can only get up, get going and try to survive.

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