How I Have Managed to Stay Debt-Free Since 1988!

In a world where easy loans and instant gratification tempt us at every turn, staying debt-free might seem like an impossible feat. Yet, for over three decades, I have managed to navigate the financial landscape without owing a dime to any bank or individual. It is not magic, you may want to emulate this.

The Foundation: Grace, Wisdom, and Balance.

First and foremost, I attribute my financial stability to the grace of God. Life’s uncertainties “illnesses, disasters, and business ventures gone wrong” can quickly lead to debt. However, a foundation built on faith and wisdom helps navigate these challenges. Greed, haste, poor management, and falling victim to fraud are pitfalls that I’ve actively avoided.

Understanding Status vs. Your Current State:

One crucial lesson I have learned is distinguishing between my status and my state. While I may hold esteemed titles like medical doctor and preacher, my financial decisions are grounded in practicality. Living within my means and resisting the urge to impress others with extravagant displays has been key. As a result, I have built a modest home and made prudent choices, like opting for a simpler roof design to save costs.

Education and Lifestyle Choices:

When it comes to education, I have prioritized value over prestige. My children attended schools that aligned with our financial capabilities, and we made calculated decisions about higher education abroad. This philosophy of “fitness for purpose” extends beyond education to every aspect of life, ensuring that every expense serves a meaningful goal.

Resisting Cultural and Social Pressures:

In Nigeria, societal pressures to host grand ceremonies and keep up appearances are immense. However, I have remained steadfast in my beliefs, refusing to succumb to cultural norms or social expectations that could lead to financial strain. Whether it is resisting easy loan offers or avoiding extravagant spending on weddings and ceremonies, I prioritize financial discipline above all else, I do not need to impress anyone.

Practical Financial Habits:

Maintaining financial discipline involves meticulous budgeting, prompt loan repayments, and avoiding unnecessary luxuries. I have shunned high-interest loans and instead relied on cooperative loans that offer more favorable terms. By promptly settling financial obligations and living modestly, I have prevented the accumulation of debt, understanding that financial freedom is built on small, consistent actions.


Staying debt-free since 1988 has been a journey of faith, wisdom, and discipline. It is about making choices that align with long-term financial security rather than short-term gratification. I hope that these insights inspire you to rethink your own financial decisions, guiding you toward a future free from the burden of debt.

God bless you.

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