Financial Literacy


In a perfect world, we wouldn’t need to trick ourselves into saving money, because we’re all grown-ups who have self-control, right?

Let’s be honest, whether its personal splurging or the unfortunate mishaps occur that require immediate funds, we could definitely find areas where we can cut our costs and unnecessary spending.

Acknowledging that our self- control might need some work isn’t a bad thing. Try implementing some of these tips and tricks to help you become a super fine finance ninja!


It may seem old fashion, but that change after you break a dollar can add up quickly.  That few extra $100 per year might not sound like much, but it’s far better things to be done with extra coins that losing them between the cushions!


Some banks like Bank of America have programs that can round your transactions to the nearest dollar and then transfers the difference to your savings. For example, if your purchase is $5.73, $0.27 would be added to your savings account. It may seem like a small amount, but it can quickly add up in addition to your savings rate.


There are many sites that allow you to earn cash back while shopping, whether online or in an actual store. One of my personal favorites is the Dosh app. Dosh is an app that gives you cash back every time you make a purchase at the numerous participating stores using your linked debit or credit card. These stores range wide in variety like your weekly Exxon or Shell, to your Pizza Hut and Dominos. The best part is, they give you $5 just for signing up and linking your card!


Transform your routine. Instead of ordering lunch every day at work, pack a lunch on some days. Think about the unnecessary subscriptions you have monthly, and divert those payments into your savings account. Are you a social drinker? Are you a smoker? What habits do you have that you can work on quitting to help save those extra bucks at the end of the month?


You’d be surprised on how much you can save monthly by just cutting back on your energy bill. Caulk holes and cracks that let warm air out in the winter and cool air in the summer. Ask your local gas and electric providers for a free or low cost home energy audit. This can lead to tremendous long term savings. Learn the correct settings for your thermostat to ensure you keep your usage at bay when your away from home during the day.

Financial literacy is essential to anyone, and for women responsible for providing for their children and families, the skill of making, managing and growing wealth is fundamental. One of the common threads of most single female breadwinners (single mothers) is that they live in survival mode. When society continues to portray women responsible for their families as struggling, broke and always needy, it is not farfetched for women to begin to believe these narratives and live into it, but it does not have to be so.

Therefore, Wevvo Nigeria has partnered with  the founder of Smart Money Africa and Author of “The smart money woman” and “The smart money tribe”; Arese Ugwu to educate single moms on financial literacy and savings culture.

According to the founder of Wevvo Nigeria  Weyinmi Eribo; “We believe that it is possible to live parallel lives of caring for the family while attaining financial freedom, hence our reason for partnering with Arese Ugwu to share her knowledge in this regard. I founded Wevvo because I know that women struggle in many ways, and for single female breadwinners it is worse, a full circle of negligence and lack of appreciation for the struggles we go through. I have seen several times how narratives have put women in boxes, this single story continues to create gaps in women’s’ careers and businesses. At Wevvo, we are changing this narrative.

Wevvo Nigeria is a resource and community-based platform that supports single female breadwinners with access to finance, business capacity boosting trainings and workshops, mentoring and a community to thrive, a safe space for healing and growth, learn more about our work and join the community.

Join us on the 18th of July in a zoom event where we will be learning money tips, asking questions, and sharing experiences unique to single female breadwinners.

Visit us at www.wevvo.ng


Chances are you have faulty beliefs about money, which keep you from coming into it. Here are 5 faulty beliefs you might have and what to do about it.

The first thing to get straight is this: Money serves you. You are it’s master and it is your faithful servant. Never get this the other way around. Money serves two purposes: It allows us to live comfortably. It is also a vehicle that lets us do good in this world. Let money serve you.

  1. Money Isn’t Everything

Some people believe that money can’t buy happiness. They pretty much choose poverty over prosperity, thinking that happiness comes with scarcity. Yet, part of having an abundance mindset means the best of both worlds. After all, money is just an indicator of success. Poor and unsuccessful people have made it a habit to avoid doing things that improve their skills and this guarantees failure.

On the other hand, successful people have a habit of doing things that help them progressively realize their goals and dreams. While you may want to remain static, the truth is you either create or disintegrate.

2. You Lack Gratitude for the Money You Do Have

Just as we don’t know how to receive, when we do receive, we don’t know how to express gratitude. Start off simple and express gratitude, when you find a dime on your garage floor or a dollar bill in your laundry.

Gratitude is a re-framing of our minds, which opens us to receiving and expands our awareness to possibilities. Possibilities increase our chances of success.

3. You Don’t Know How to Receive

How many of us know how to ask for money or negotiate salaries? How many of us know our true worth in the value we can provide? I sure didn’t. I had helped my friend remove malware from her computer. It took me less than an hour, and she wanted to pay me for my time. Yet, because I didn’t know how to ask for money or the worth of the knowledge I possess, I stupidly refused the money. Luckily for me, my friend insisted. More importantly, she helped me realize that my knowledge and experience are not just for my employer. I can also help other people, and I should be bold enough to ask for money. After all, while it may have taken less than an hour to remove that malware, it’s taken me twenty years of constant study in front of the computer to build up that knowledge base and expertise.


4. You Have a Poor Self-Image

You can only grow as far as your self-image will allow. If you ever want to make six-figures at your next job, then you have to first believe you can. Your bad self image makes you believe that you are undeserving and a fraud. Mainly, it’s been poisoned by other people’s beliefs.

Once you believe you bring a unique value to this world that you alone can provide, you become aware that you deserve an abundance of happiness, health, and wealth. This accomplishment is something greater yet as it is an expansion of your awareness and true self-growth. Only when you are able to see yourself worthy and deserving of a six-figure salary, will your future employer see it too.

5. It Starts With You

One of the common threads running through the 7 false beliefs has to do with blame and your willingness to take responsibility for your current results. Unsuccessful people blame their circumstances or other people. On the contrary, successful people accept their circumstances and take the initiative to improve what they can. Even if the problems seem insurmountable, they start acting from where they can.

To bring more money and success into your life, first make a decision to throw out these faulty beliefs. Be willing to accept new beliefs that are conducive to your goals. When we start educating ourselves, we also start expanding our awareness to what’s possible.

In the end, the decision to come into an abundance of wealth and success has more to do with setting goals and growing, than it is about the money. As you embark on this journey, kindly remind yourself from time to time that goals aren’t about getting. They are about growing.


Apart from finding a way to be financially productive yourself, even if it is through opening an investment portfolio that your husband can give you initial money for, start by letting your husband know that you are concerned about what could happen to you and his dependents if anything happens to him, particularly as you are not gainfully employed and are totally dependent on him financially.

Hello Shade,
I am a full-time housewife married to an international businessman. It is his choice that I stay home to tend to the home front, which I’ve come to embrace as my role. The problem is that as an educated wife, I think I’m supposed to know all my husband’s assets and properties, but he doesn’t tell me anything about them. I often feel he thinks I’m useless because I don’t work. Am I being unnecessarily paranoid?
– Bisi, Ogun State


Dear Bisi,

Thank you for reaching out to me.

I understand that you feel under-appreciated by your husband, despite the fact that at your husband’s request, you have assumed the role of a full-time housewife.

In my opinion, your concerns are justifiable, because as a full-time homemaker who is completely financially dependent on your husband, such thoughts would pervade your mind. Perhaps this mental nudge is what you require to confirm if your husband has an estate plan in place. However, you must tread with caution to avoid being misunderstood.

Apart from finding a way to be financially productive yourself, even if it is through opening an investment portfolio that your husband can give you initial money for, start by letting your husband know that you are concerned about what could happen to you and his dependents if anything happens to him, particularly as you are not gainfully employed and are totally dependent on him financially. I believe this will set the tone for your husband to re-evaluate your current position as a full-time housewife. It would also prompt him to consider the options open to him toward planning his estate, including putting his will in place to determine how his assets will be distributed at the end of his life, and/or setting up a trust to cater for your welfare and that of other dependents.

I hope I have been able to help you out in some way.


Source: Bellanaija

No one is perfect says the world but some vices are more bothersome than the others. Many men can relate with this topic. I wonder if men talk about how much their wives love to spend on hair- whether braids, wigs or natural replenishment. Better still, if they talk about our bags, watches, lotions, spas, dresses, perfumes. What of our vacations? And our constant shopping of toys for the kids!! Oh women!

Ok, now that we have satisfied the men, let us share some of the ache of the ladies. Does your man spend a lot on TGIF! A drink here and there, designer belts, designer ties and shirts- all the same color (white and blue). God bless the women that their spouses love games too! What of the man that likes to loan everyone in the office?

Spending is part of life. Some will argue, what is the point of earning money and stashing it. What is the point of investment? If not to spend it later. There is a popular Ebenezer Obey song that says ‘olowo majeye, eyin lomo, awon to laye lana da, won ti ku won ti lo’. It means rich man/woman that doesn’t want to spend and enjoy life, na you sabi. those that were alive yesterday are dead and gone.

I agree to an extent. It sucks to be stingy. It sucks to have money and live like a pauper. However, there are limits.

A spendaholic is someone that spends arbitrarily. This means irrational, not planned, not needed spending. Spending for the sake of spending. Spending as if he/she did not work hard to earn the money. Spending on any and everything. Buying everything in sight. This is not cool.

Here are tips to handle.

1.Show the problem. First step is to show the spender that there is a problem. Most spenders have different reasons for their habits. Some will say ‘ how much is this bag sef, sebi it is just N20,000. What can I do with that money anyway. It cannot buy me land, cannot buy me a car. So let me enjoy’. Educate the person that N50,000 set aside monthly for 10 years is N6,000,000. Even without any interests. Go through the person’s bank statement and add up all the little costs here and there and it will amaze you how much it adds up to.

2.Proffer alternatives but don’t create a bondage. No one wants to feel like a child being monitored, so allow flexibility. An easy way to do this is to create 3 accounts: one for yourself, one for spouse and one for joint projects. Agree with your spouse an amount on projects and investment and focus your energy on that. Example, we try to do 30%- 40% on investments and dedicate that to the joint project account. Then, each person can manage his/her personal pocket money as they like. They secret here is to take as much as possible for projects so that spouse has just enough for life! (Wink) and a few luxuries. Also, ensure both of you are aligned to the project or dream. Do not impose your dreams on your spouse. This is a NO- NO! and NO!

3. Link loans to spouses account or set up alternative systems. A clean way to block money with a shopaholic is to link project loans to the account. Whether we like it or not, the debit alert for loans happen ‘gbagaun’ automatically monthly. So link this and you won’t have to worry about ‘lau lau’ spending. However, ensure that loans are taken for productive ventures that can pay itself and the interests on capital.

a.Alternatively, set up recurring bank instructions. You can instruct the bank to move some money out of your account into a savings account as soon as allowy/salary lands at month end.

4. Have a budget and financial goals. This is key. Every year, I set financial goals. E.g.

a.I want to build a commercial property

b.I want to build up cash up to XX amount

c.I want to pay off loans

d.I want to invest in children’s education trust fund

e.I want to set up a community CSR fund pot.

f.I want to set up children’s university savings

g.I want to establish my younger one’s business

h.I want to take a vacation.

Let us be clear. This is not about me. So replace ‘I’ in above sentences with your name. This is about you. Make a list of your financial goals for 2017 now. Draw up a budget too. What % of your income will you spend on accommodation, feeding, education, children’s school fees, beauty, tithe, giving back, transport, savings, investment, gadgets etc?

5. Keep some fun money aside. All work and no play makes Adunni a dull girl. So remember Obey’s song. Spend some money on things you love, things that make you happy so you can live long enough to spend the savings. Remember, no one was born a shopaholic. With a lot of love, support and education, your spouse will be a financial guru in no time. At the same time, don’t victimize your spouse in the name of financial training. Everyone is different and your spouse may never get to the level of discipline you have.

What do you think?

By: MrsCeo Naija

Pic Credit: shutterstock.com