Money basics
You don't need a finance degree to be good with money. You need three habits, one spreadsheet-shaped app, and a healthy suspicion of anyone who guarantees you a return. Here's the whole thing.
- 1
Know what comes in
Write down every source of income for the last three months. Salary, side jobs, family, whatever. This is your baseline. Most people are surprised — in both directions.
- 2
Split every naira three ways
The 50/30/20 rule: 50% needs (rent, food, transport), 30% wants (data, eating out, subscriptions), 20% future (savings, investments, debt paydown). Adjust the ratios, keep the buckets.
- 3
Automate the 20%
The day your salary lands, an automatic transfer moves 20% into a locked Goal. If it doesn't touch your main wallet, you can't spend it. This one habit does more than any budgeting app.
- 4
Build an emergency fund first
Before you invest a naira, save three months of expenses in a flex Goal. This is the difference between a bad month and a life crisis.
- 5
Learn to spot a scam
If someone promises you 20% a month, they are lying. If a WhatsApp message asks you to verify your BVN via a link, it is a scam. If a stranger sends you money and asks you to forward it, you are being used to launder money. Delete, block, move on.
- Track spending for one full month before you try to cut anything. You can't change what you can't see.
- The best investment for most people in their twenties is boring: a diversified index fund or a high-yield savings account. Not crypto. Not forex. Boring.
Frequently asked
How much should I save?
Start with 10% if 20% feels impossible. The number matters less than the habit. Increase by 1% every three months until you hit your target.
Should I pay off debt or save first?
Build a one-month emergency fund, then attack any debt above 15% interest, then save aggressively. High-interest debt beats almost any return you can earn.