Nigerian music mogul Michael Collins Ajereh, also known as Don Jazzy has opened up on why many young Nigerians struggle to sustain wealth, even when they earn good money.
According to him, the core issue is not a lack of income but poor financial discipline and the growing pressure to maintain a flashy lifestyle.
He explained that many young people prioritize appearances, spending heavily on luxury items, social outings, and trends, rather than saving or investing for the future.
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The Mavin Records boss stressed that earning money is only one part of the equation, noting that without proper money management, even a high income can quickly vanish.
He highlighted the importance of planning, budgeting, and setting long-term financial goals.
Don Jazzy also pointed to the influence of social media, where unrealistic lifestyles often push individuals to live beyond their means in a bid to keep up with others.
Advising young Nigerians, he urged them to embrace financial literacy, build sustainable income streams, and cut down on unnecessary spending to achieve long-term financial stability.
