How to Fix “Get Rich Quick” Mindsets in Nigeria

Many young Nigerians—in schools, working offices, or hustling side jobs—dream of becoming rich very fast. They dream of “overnight success,” flashy cars, big houses, and luxury. But chasing fast money often leads to danger: scams, bad debts, stress, and loss. A better way is to fix the get rich quick mindset, so you build real wealth over time. This article shows you why “get rich quick” thinking is harmful, how it starts, and detailed steps to change it. It also gives pros and cons, comparisons, real examples, and frequently asked questions. This is for students and working class citizens in Nigeria, South Africa, and Kenya—but many parts apply anywhere.

What is the “Get Rich Quick” Mindset?

H2: Definition of Get Rich Quick Mindset

The get rich quick mindset means believing that one can become rich fast, with little effort, risk, or time. It is the idea that wealth should come quickly and easily. People who think this way often expect instant rewards without investing effort, learning, or building something over time.

Main Features of Get Rich Quick Thinking

• Expecting huge returns in days, weeks or a few months.

• Avoiding learning or building skills; preferring fast schemes or shortcuts.

• Focusing more on appearance (flashy life) than foundation (saving, investment).

• Being attracted to promises like “double your money fast,” “100% returns in a week,” “easy money online.”

• Ignoring risks, costs, or long-term consequences.

Related Concepts: Wealth Building, Financial Literacy, Long‑Term Investing

To understand this better, we need to know some related words:

• Wealth building: The process of growing your assets and money over time through saving, investing, business, good decisions.

• Financial literacy: Having the knowledge and skills to manage money, budget, understand risk, use investments, avoid scams.

• Long‑term investing: Putting money into something that will grow slowly over years—stocks, property, businesses etc., rather than expecting instant gains.

Why the Get Rich Quick Mindset is Strong in Nigeria, Kenya, South Africa

Causes of Quick Money Culture in These Countries

We need to see why many people in these nations fall into get rich quick thinking. It’s not just a personal weakness; many external factors push people toward it.

Economic Conditions: Unemployment, Inflation, Income Inequality

• Many young people are unemployed or under‑employed. Without a steady job, people look for fast ways to make money.

• Inflation erodes what your money can buy, so if your savings don’t grow, people feel stuck. They prefer riskier methods that promise high returns.

• Income inequality means seeing few very rich people while many are struggling. That gap creates pressure to “make it” quickly.

Social Pressure, Social Media, and Display Culture

• Social media platforms show very rich lifestyles: cars, houses, trips, designer clothes. Few show the hard work or the debts behind it.

• Peer pressure: friends showing success, bragging about money, even if borrowed or borrowed‑money lifestyles.

• Comparison culture: measuring success by how quickly one gets nice things rather than by how stable or sustainable their finances are.

Low Financial Literacy and Lack of Education About Money

• Schools often do not teach about saving, budgeting, investing, risk. Many people don’t know basic financial terms.

• Many people don’t understand interest, inflation, taxes, or how investments work. This makes them vulnerable to misleading promises.

• Myths and hearsay spread easily: people hear “I made 500% in crypto last week” and assume that is normal or safe.

Easy Access to Risky Investment Offers / Scams

• Advertising for quick money schemes is everywhere—online platforms, social media, messages.

• Fraudsters promise high returns, full guarantees, “secret methods.”

• Without regulation or knowledge, many fall for such schemes.

Cultural Mindset of Instant Rewards

• Some places value immediate reward over slow progress: “blowing” money now, showing off status symbols.

• There is sometimes shame or social pressure tied to not looking successful, which pushes people to show off even when they’re struggling.

The Dangers and Problems Caused by Fast‑Money Thinking

Short Term Gains But Long Term Losses

Chasing fast money might give a little win at first, but often it leads to bigger losses later.

• Many “get rich quick” schemes collapse. People lose money.

• Even when there’s a small profit, fees, taxes or inflation may eat most of it.

• Losses hurt not just money—they hurt trust, self-esteem, sometimes relationships.

• Emotional Stress, Anxiety, Disappointment

• When you expect wealth soon and it doesn’t come, you feel frustrated, disappointed.

• Constant worry about whether an investment will fail.

• You might compare yourself with others and feel you’re failing.

Financial Ruin, Debt, Scams

• People borrow money (from friends, loans) to fund risky schemes or investments. When things go wrong, they can’t repay.

• Scams and fraud target hopeful people. Many lost savings or borrowed money.

• Illegal schemes may lead to legal trouble or reputational damage.

Missed Opportunity to Build Lasting Wealth

• Time spent chasing fast money could be used for skill building, studying, safe investments.

• A stable small business, disciplined savings, or long term investments often give better results over 5‑10 years.

Damage to Morals, Values, Trust

• When people cheat or lie to get rich fast, that damages personal integrity.

• Society trust reduces: people become suspicious of all investments.

• Leads to cynicism: “everyone is out to scam me,” which may stop even safe opportunities.

How to Shift from Get Rich Quick to Slow, Real Wealth‑Building Mindset

Here are detailed steps you can take personally to change your thinking. These are realistic steps for students or working‑class people in Nigeria, Kenya, or South Africa.

Step 1 – Recognize and Admit the Problem

• Write down your beliefs. Do you believe money must come fast? Do you envy flashy lifestyles?

• Admit you might have been misled. That’s not shame—it’s first step.

• Accept that changing thinking will take time.

Step 2 – Set Realistic and Measurable Goals

Short‑term Goals

• Save a fixed small percentage of income every month. Example: 5‑10%.

• Build an emergency fund to cover 3‑6 months of expenses.

Medium‑term Goals

• Learn a skill that increases income. For example, coding, graphic design, sewing, carpentry.

• Start a side hustle or small business with low capital.

Long‑term Goals

• Invest in assets like property, mutual funds, stocks, or retirement savings.

• Aim for wealth that is stable and grows over many years.

Step 3 – Educate Yourself in Financial Literacy and Wealth Building

• Read books, follow trusted blogs, watch videos about money, saving, investment.

• Learn vocabulary: interest rates, compounding, inflation, diversification, portfolio.

• Take free or cheap courses on entrepreneurship, investing, online skills.

Step 4 – Build Skills That Generate Real Income

• Identify what you can do well or learn to do. E.g. digital skills, trade skills, service skills.

• Practice, get better, get paid. Over time charge more.

• This gives you real income that does not depend on illusions of fast returns.

Step 5 – Use Budgeting, Savings, and Discipline

• Create a simple budget: income, savings, expenses.

• Track expenses: know where money goes.

• Prioritize savings: treat it like a fixed cost, not leftover.

• Avoid unnecessary expenditures, flashy spending until you are financially secure.

Step 6 – Start Small Investment with Low Risk

• Begin with safe options: government bonds, fixed deposits, savings accounts with interest.

• Use reputable platforms. Check regulation.

• Never put all money into one high‑risk scheme. Diversify.

Step 7 – Adopt Long‑Term Attitude: Patience and Consistency

• Understand that compounding (earning returns on returns) takes time. The longer you stay invested, the greater growth.

• Keep working even when progress seems slow.

• Celebrate small wins: increasing savings, learning new skills, small returns.

Step 8 – Surround Yourself with Positive Role Models and Mentors

• Find people who are patient, disciplined, building wealth slowly.

• Follow success stories of ordinary people, not celebrities with suspicious fast success.

• Join peer groups, mastermind groups, or online communities that value slow growth and real effort.

Step 9 – Limit Exposure to Harmful Messages and Social Media

• Reduce following people who promote “fast money schemes.”

• Unfollow accounts with flashy materialism.

• Instead, follow financial educators, honest entrepreneurs, content about investing, saving.

Step 10 – Create an Environment That Reinforces Good Habits

• Use tools: budgeting apps, savings accounts, investment platforms.

• Automate where possible: set monthly transfers to savings or investments.

• Avoid get‑rich‑quick advertisements. Be skeptical of promises that sound too good.

Skill Building, Financial Education, and Good Habits to Replace Quick Money Thinking

Here we dive deeper into how to build skills, get education and form habits that support real wealth building.

Financial Education: What to Learn

• Budgeting: How to plan income and expenses.

• Saving strategies: emergency funds, savings goals, sinking funds.

• Interest and compounding: How money grows over time when reinvested.

• Inflation: Why savings that do not grow lose value.

• Risk and reward: Understanding that higher returns usually come with higher risk.

• Diversification: Don’t put all money in one place.

• Investment vehicles: What are stocks, bonds, mutual funds, real estate, small businesses?

Skill Building That Increases Income Over Time

• Digital skills: coding, web design, graphic design, social media management.

• Trade skills: carpentry, plumbing, electrical work, tailoring.

• Service skills: teaching, tutoring, workshops.

• Business skills: sales, marketing, customer service, financial management.

Habits That Support Wealth Building

• Consistency: saving and investing regularly.

• Discipline: avoiding impulsive spending or risky gambles.

• Delayed gratification: choosing long‑term benefit over instant fun.

• Learning mindset: always reading, asking questions, improving.

• Tracking: monitor investments, savings, income. Learn from losses.

Tools and Resources You Can Use

• Budgeting apps (locally available in Nigeria, Kenya, South Africa).

• Online courses (many free).

• Podcasts, YouTube channels by credible people.

• Books in simple language.

• Small investment platforms or apps that allow small entry amounts.

Real‑Life Examples of People Who Changed Their Mindsets Successfully

Real stories help you believe. Here are examples (fictional but realistic) from Nigeria, Kenya, South Africa.

Example 1 – Fatima from Lagos: From Betting to Baking Business

• Fatima used to spend money betting. She believed “one big win” would solve everything.

• After losing money, she decided to learn baking. Bought basic equipment, practiced, sold to neighbors.

• She saved some profits, reinvested. After 2 years she expanded, now supplies 3 small cafés.

• She has slower growth than flashy people on social media, but her income is stable and increasing.

Example 2 – Joseph from Nairobi: From Crypto Speculation to Digital Marketing

• Joseph invested in crypto because he heard people make millions fast. Many losses.

• He changed focus: took online marketing courses, built freelance clients.

• He saved some income monthly, invested small money in low‑risk assets.

• Today he has two income streams: freelance marketing and some investments.

Example 3 – Lerato from Johannesburg: Side Hustle and Patience

• Lerato works full time but wants more income. Instead of chasing fast schemes, she opened an online clothing resale business.

• She started small: bought secondhand clothes, cleaned them up, sold to friends, reinvested profits.

• She also uses a portion of salary to invest in a mutual fund and buys government bonds.

• It took years, but now profits from her business plus returns are significant.

Comparisons: Fast Money vs Slow Wealth Building

Pros and Cons: Is Any Fast Money Strategy Ever Worth It?

Sometimes people argue that fast money has its place. Let us weigh pros and cons.

Pros of Fast Money Tactics

• If done safely and well, may give a boost (bonus, promotion, legitimate side gig).

• In emergencies, quick earnings may help (short term gig, freelancing).

• Motivation: seeing fast money may inspire further work.

Cons of Fast Money Tactics

• Often involves high risk, even pure gambling or fraud.

• Losses can wipe out savings or cause debts.

• May damage reputation or get you into legal trouble.

• Creates bad habits: expecting quick fixes instead of planning.

When Fast Money is More Dangerous Than Useful

• When someone invests money they can’t afford to lose.

• When one depends on fast money instead of developing a sustainable income.

• When society or family pressure pushes someone into risky schemes.

How Schools, Families, Communities and Media Can Help Fix the Mindset

Fixing mindset is not only individual effort. Society also plays a big part.

Role of Schools and Education System

• Include financial literacy curricula: budgets, savings, risk, entrepreneurship.

• Teach students about real businesses, how to plan, how to invest.

• Invite successful slow‑growth entrepreneurs and financial educators to speak.

Role of Parents and Family

• Teach children saving, delayed gratification, not buying flashy things just to show off.

• Model good behavior: live within means, avoid debt, invest wisely.

• Encourage children to learn skills, not just look for shortcuts.

Role of Community, Peer Influence, Mentors

• Peer groups or student clubs that focus on skill‑sharing, business learning.

• Mentors who share real stories of slow progress and real achievement.

• Community programs or workshops teaching financial habits.

Role of Media, Social Media, Influencers

• Media can promote stories of ordinary people who built wealth over time.

• Influencers should show honest side: effort, failures, growth.

• Regulate or warn about scam adverts. Encourage fact‑checking and skepticism.

Summary Table of Key Steps Before Conclusion

Before wrapping up, here is a summary table of the most important steps you can take to fix a get rich quick mindset and build real wealth:

Frequently Asked Questions

Here are more than 10 common questions people ask when trying to change mindset. Answers are simple and clear.

1: Is it bad to want to make money fast?

No. It is not bad to want wealth. What becomes bad is chasing fast money through risky, dishonest, or unsustainable means. Wanting fast money is fine, but doing wise work to build income and risk‑aware investment is better.

2: Can I succeed with a mix of fast gains and slow growth?

Yes, sometimes people use a mix. For example, they may do a quick side hustle/gig for extra income, then put most of that into slow investments. The key is not to depend only on get rich quick schemes.

3: How long does it take to build real wealth?

It depends on your situation: income, savings rate, skill, risks. Often, 5‑10 years of steady saving, reinvesting, and growing income are needed to see strong wealth building. Sometimes more. But slow is more certain.

4: What is a safe investment for beginners in Nigeria, Kenya, South Africa?

Some safer options are:

• Fixed‑deposit savings accounts.

• Government bonds or treasury bills.

• Low‑cost mutual funds or index funds.

• Real estate (if affordable).

• Trusted digital investment platforms (that are regulated).

5: How can I tell if an opportunity is a scam or just risk?

• Very high guaranteed returns in short time are red flags.

• Promises “no risk” or “guaranteed profit.” All investments have risk.

• If you need to recruit others to earn, or pay fees upfront with little transparency.

• If it is not regulated in your country or there is no clear company or contact.

6: Where can I learn financial literacy easily?

• Local libraries or bookstores: books on budgeting, investing.

• Free online platforms, YouTube channels, podcasts.

• Community workshops, NGOs offering training.

• Financial education in schools, if available.

7: Can I change my mindset if I already lost money from fast money schemes?

Yes. Losing money can be painful but it also teaches lessons. Use the loss to learn: what signs you missed, what you believed wrongly. Then start small, apply the steps above.

8: What limitations exist—why some people struggle more?

• Lack of access to financial services or credible investment platforms.

• Poverty: if your income barely covers basic living, risk is higher.

• Cultural or peer pressure to show wealth.

• Low trust in financial institutions. These are real obstacles, but some can be overcome with education, community support.

9: Is comparing with others always bad?

Not always. Seeing how others succeed can inspire ideas. But comparing without context—income, risk, effort—can hurt. Better to focus on your own progress.

10: How can I stay patient when progress seems slow?

• Celebrate small wins (first savings goal met, first profit, new client).

• Keep reminders of why long term matters: security, freedom, peace.

• Track progress over months or years, not days.

• Surround yourself with people who believe slow growth.

11: What role does mindset play in wealth building?

Mindset is crucial. If your mind believes that only fast wealth is good, you will ignore opportunities that take time. Changing your thoughts to value discipline, patience, learning, helps you make decisions that build wealth slowly but surely.

12: Can I have luxury things and still avoid get rich quick traps?

Yes, you can enjoy nice things. The difference is you get them with earned wealth—not by borrowing heavily or chasing risky schemes. When you have healthy savings, investments, stable income, buying luxury is reward, not risk.

Conclusion

Changing from a get rich quick mindset to a slow, real wealth‑building mindset is not easy. It takes time, discipline, education, and consistent effort. But for students and working class citizens in Nigeria, Kenya, South Africa, it is very possible—and very worthwhile.

Real wealth comes from:

• Recognizing the problem of fast money thinking.

• Setting clear short, medium, long term goals.

• Learning about money, savings, investment, risk.

• Building skills and earning real income.

• Saving, investing, being patient.

• Surrounding yourself with mentors, avoiding scams, focusing on slow steady progress.

When you fix your mindset, you build more than money—you build peace of mind, respect, and a foundation for your future. Slow and steady wins in the race of wealth.