You made it to another Monday morning. Before those email notifications take over, let’s take a quick look at this week’s stories.
First, we have a 30-year-old on #NairaLife, and she’s earning more than ever — $7k/month income and steady freelance gigs. But the money isn’t enough, or it doesn’t feel like it. Now, it’s not just about her; it’s about building a secure life for her child so that she will never worry about money like she once did. The money wins are sweet, but the pressure is still kind of constant.
Moving on to Love Currency, a couple earning a combined ₦4m/month and cohabiting in Lagos work. It’s been four years of splitting everything, but financial differences — and one partner’s risk aversion — are consistent struggles.
Moving on to Love Currency, a couple earning a combined ₦4m/month and cohabiting in Lagos work. It’s been four years of splitting everything, but financial differences — and one partner’s risk aversion — are consistent struggles.
Finally, we spoke to a woman whose banking salary grew 10x in 10 years, and then levelled up again when she switched sectors.
Ask Aunty M: How Do I Build My Emergency Savings Separate From My Regular Savings?
Where The Money At?!
#NairaLife: The Digital Marketer Obsessed With Building Wealth for Her Child
The 30-year-old in this #NairaLife struck gold with digital marketing in 2019 and really started making money in 2022. It’s 2025, and she’s at her most liquid yet with a $7k/month income and a $30k portfolio.
But she won’t rest until she can provide everything her child needs.
The Customer Service Supervisor Cohabiting in Lagos on a Combined ₦4m Salary
Jack* (31) and Pat* (28) have lived together since 2020.
For #LoveCurrency, Jack talks about their 50-50 arrangement, the challenges of cohabiting for so long, and his uneasiness with Pat’s risk-averse approach to finances.
I’m a lawyer and work as a legal and compliance officer for a finance company. My monthly income is ₦640,000. I have side incomes from CAC, legal consulting and the like that bring about ₦100-₦150k monthly, but this is not steady. While I have a good savings culture, I’m afraid I don’t have emergency funds, and I also don’t know if my savings are commensurate with what I earn. Mind you, I have spent the past two years preparing for grad school in the US, and I honestly believe that is the next step forward for my career. In 2022, I saved about ₦4 million, which is down about ₦2.5 million. The rest went into paying for transcripts, LSAC, my parents’ hospital bills, etc. However, I’m sure that that amount should triple between now and next year’s fall. I save ₦300k monthly from my earnings, and I don’t know if that amount should double. I also have some investments here and there in the money market, commercial paper, real estate, shares, and dollar fixed deposits — this should be about half a million. I also want to improve oan this. I used to have self-sponsored health insurance but stopped when they failed to pay for my new glasses. It felt like I was dashing money to people who didn’t care about me. How do I have emergency savings separate from my regular savings? Also, do I need to do better with my savings? I’m the first child; although the black tax is there, it is not a must. I give what I can when I can. – Sugar, 28
Hi Sugar, thanks for writing in. Congrats on your job and your great salary + side hustles. You are very thoughtful about your finances and your life, so kudos.
The first step would be to house your emergency savings separately from all your other money. You already know how to save; you just need to have all your savings goals in separate accounts to track how much you have to reach your goal accurately. I gather that your priorities are an emergency fund, a black tax fund, and a grad school/japa fund. I suggest opening a high-interest account for each of these and contributing to them monthly. This way, if hospital bills pop up, you won’t be taking from your grad school funds to help out. You may want to consider saving in dollars for things like your grad school fund because of the devaluation of the Naira.
You also asked if ₦300k is enough to save. Only you can answer that because it depends on your goals and the timeframe they need to be achieved. ₦300k is an amazing amount if you want to save ₦3.6m in a year, but if you need to save ₦5m in a year, it’s not.
So, I want you to work backwards…what are your financial goals? How long do you have to save up for them? Once you know that, you can calculate how much you need to save toward each goal to reach your goals. Also, remember to account for your expenses.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
Imagine this: you’re a second-year uni student with a rather expensive pastime: buying clothes. You hit the market to hunt for a new haul when your allowance landed. In your head, it was almost a sin to repeat clothes.
I was this person in 2014.
Forget food; if you were trying to impress me, you’d better buy me clothes. My allowance drove this habit, and while I no longer remember how much I got from home, I know the money barely touched my pocket before landing in the market. The great thing about this was that I was popular for my style on campus.
My dad was laid off from work the same year, and everything immediately became tough. My allowance was the first to go. Events like this flip something in your brain, so I started thinking, “What do I do now?”
The answer came in waves: “You love clothes; make it a business.”
I pitched this to my dad and an uncle, and they raised ₦60k for me, no questions asked. Like that, I was in business. For the next two years, I focused on the market on my campus before moving to Lagos to push this business to all the lengths I could.
In 2024, Haute Collections sold ₦500m worth of clothes in a year. It’s true, it happened, and here’s how I did it.
Social media and content creation moved the needle
In 2017, my Instagram account had about 2,000 followers. So, I turned my sights there, hoping to improve my reach and expand my customer base. First, I researched and studied as many African-American-owned fashion businesses as possible. Fashion Nova was an easy favourite.
At the end of this process, I learned a fascinating insight that hasn’t left me, and was a critical part of my process in 2024. Marketing products effectively on social media went beyond just posting pictures. There was an element of content creation in it.
The brands I studied were keen on utility-driven content. Every post taught their audience how to wear or style the clothes, showing them exactly how they’d look when they wore the outfit.
This was interesting, so I got to work. I got my first major success with this in 2020, but it didn’t even start off this way.
On January 3rd, 2020, I lost my Instagram account and its 58,000 followers. Not to be dramatic, but I built that account with money, blood, sweat, and tears. And I lost it because a post was flagged for copyright reasons.
When this happened, I took a two-month break. Subsequently, I converted my page into my business page and returned to the ring.
If the same thing happens again, it probably won’t hurt as much and I won’t need to take a break. My customer data doesn’t sit entirely on social media, but I’ll get to this soon.
Back to 2020
Then I got the second curveball — COVID-19 happened, and everyone was on lockdown. I was very nervous about this, and I remember asking a friend, “Why would anyone buy clothes when there’s nowhere to wear them?”
I didn’t know it then, but I’d get an answer.
It’s ironic, but the pandemic drove sales. Content creation became incredibly popular as people optimised to find some excitement wherever possible.
As everyone looked for ways to stay connected with their friends during the pandemic, many people turned to creating content. 2020 had many social media challenges, and people needed to look good. This process involved shopping for new clothes, playing dress-up, and shooting pieces of content. It also drove the sales of fashion products, and I could never have seen it coming.
Naturally, I took content creation more seriously as I saw how quickly it made people and trends viral. Sure, I sold clothing products. But I also understood that more people were plugged into their phones in a way they weren’t in previous years. I hoped reaching them could drive conversions.
Subsequently, I went viral a few times, and my accounts grew astronomically, hitting 100k followers in 2020. Sales volume grew, too.
I couldn’t tell you how many units of clothes I was moving daily, but I knew I had hit new growth levels as my daily volume grew from an average of ₦100k-₦200k/week to about ₦2m/week.
I’ve developed a taste and an eye for content that works, which was also a key part of my customer acquisition process in 2024. Now, in many ways, I know the type of content the audience will receive well—or even push to go viral — before it goes out. It’s a skill — a muscle — that the business continues to leverage. It drives a lot of our customer acquisition process.
I didn’t go a day without posting on the business’s Instagram page. I’ve found that liking or replying to a potential customer’s comment under a post can decide whether they take action and make an order.
Optimising the business’s structure and process. Thankfully, I had help
Before 2020, I was too busy figuring out survival to care about structure. And while the business grew in 2021 and 2022, I still didn’t think much about properly structuring my business operations.
A random conversation kicked off this process. An acquaintance asked if I had a product website, and I suddenly realised we processed every order on social media.
By the end of the conversation, I also realised I had no idea how much the business made in a month or a year. Or even the full scale of my inventory. All I knew was that the business was making money.
This gap needed to be plugged, and they offered me a solution.
A few days later, the people from Bumpa set me up on their inventory management system, and I also got a website. This move transformed my operations, especially last year.
The business had grown so much that I could now hire staff. But this came with its hurdles: I had to monitor what they were doing. So I had to be at the store at all times. Also, we didn’t have an inventory system. If customers reached out after work hours, we couldn’t confirm product availability until the following day, slowing the turnaround time.
Bumpa solved all of these problems. You may have seen that video that went viral last year; I got all that information from my Bumpa app.
Last year, I took the business’s sales performance more seriously than ever. For example, if the store makes ₦2m in one day and ₦600k in another, something broke with our content creation process.
One more thing: customer payment. A few times, people shopped with their cards on the website and then reported the transaction to their banks so they could flag the money. It’s potentially stressful, but Bumpa has always swooped in with a solution.
The biggest habit I’ve built with Bumpa is documenting my daily sales and customers’ details. I can boast of 100% bookkeeping at Haute Collections as a business, which pushes me to do more. It’s how I know we made ₦500m in 2024.
Building relationships with suppliers
Curiosity drives business growth. In this context, I was curious about sourcing. In 2015, I was very keen on finding suppliers outside of Nigeria. The Lagos market worked, but opening up new supply lines would be useful. So, I looked for Chinese and American wholesale businesses. This had its learning curve, and I lost money, but I learned from my mistakes.
However, I didn’t rely on these websites alone.
Moving to Lagos meant I could explore the Lagos Island market in a way I couldn’t when I lived in Delta State. Ten years later, not much has changed here.
Although I source outside the country, many of my suppliers have businesses in the Lagos Island market. It’s a gap no one else can fill. I found that these kinds of relationships are important. When his warehouse has new stock, I get the first pick. You have no idea how useful and ahead of the competition this makes me.
I knew I could never run out of good stock with this model, and I haven’t. It’s simple: good stock drives sales. It certainly did in 2024.
One more thing: customer retention
Also, customer retention is key. There’s no one way to do this, but I’ve built a relationship with my customer base so that they know they get great deals with me. Business is often give-and-take, so I’m very open to offering customers discounts. It’s a win-win situation when this happens—the customers are happy they got a good deal, and I know almost for sure that they’ll return for more.
Bumpa does a lot for me along these lines: I depend on their tracking system for insight on customers my staff need to follow up on. For example, customers often abandon their cart without completing their order. Since I know the exact point these customers drop off, I put my staff on sending their reminder text messages or calls.
It works most of the time.
Bottom line
It took ten years and a lot of trial and error, but my business’s revenue crossed ₦500 million in 2024 because I showed up consistently, created content that converts, leveraged technology and data, built strong supplier relationships and structured my business like a real company.
Volume 132
Good morning ☀️
Do you ever wonder how marriage shapes people’s ideas of submission and financial responsibility?
This week’s Love Currency might give you something interesting to think about Among other things, the lady in the story hands over her entire salary to her husband. Why, and at what cost?
This week’s #NairaLife is another kind of relationship story — one between a woman and her gambling addiction. Even after getting her desired job, she couldn’t stop betting. Four years and ₦9m debt later, she’s trying to recover, rebuild, and finally make her money work for her. How’s that going?
Ask Aunty M: I Save 80% My Salary but I Struggle for the Rest of the Month
Where The Money At?!
#NairaLife: She’s Learning How to Manage Her Money After Years of Compulsive Gambling
In 2021, this 33-year-old landed a job that was supposed to solve her financial struggles. However, a gambling problem influenced by her mental illness meant she still had a long way to go.
Four years and ₦9m in debt later, she’s finally on the road to recovery.
I Built a Multi-Million Naira Food Business. Now Everyone Thinks It’s Their Money
Amina* turned a student hustle into a multi-million naira food business empire. But success made her everyone’s ATM. She left it all behind for an MBA abroad, but the billings didn’t stop.
.
This is how being the “rich friend” almost broke her.
I earn ₦150k/month and put aside ₦120k monthly to rent a place because I set a deadline for myself. I live with my mum, and it’s becoming insufferable. Then I live on ₦30k. But I have to borrow money at the end of the month. Any advice, please? – Cassandra, 28
Hi Cassandra. You borrow money each month because your savings rate is too high compared to your income. You are saving 80% of your income, but that isn’t realistic based on your expenses. ₦30k is nearly impossible to live on unless someone is covering some of your expenses. You need to figure out how much you spend every month. To do so, start tracking your expenses. Write down everything that you spend money on each month. Once you do that – let’s say you figure out that you usually spend ₦60k monthly – have two options.
The first option is to reduce your savings to ₦90k per month so you don’t have to go into debt. This will mean moving out will take you longer, but you won’t be in debt. If you are steadfast in your decision to move out by your deadline, you need to increase your income. Using the ₦60k example again, look for jobs or a second source of income that can account for the ₦60k you need to live on monthly plus your ₦120k savings, meaning you need to make at least 180k monthly. This will allow you to cover your monthly expenses and save without debt.
Lastly, remember that once you move out, you will incur many more expenses than when you lived at home. I’m not trying to tell you to stay home, but be realistic about how much you will have to spend once you move out, as now all food costs, rent, home maintenance, and more will be on you. I don’t want you to move out and now get into more debt trying to maintain the new home.
Try to increase your income before moving out, and ensure the place you move into is within your means, even if it means getting roommates to lower the costs.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
This week’s stories are for the tired hustlers, the silent savers, and everyone who’s ever thought, “Maybe money isn’t the problem, maybe I am.”
As usual, we’re opening with NairaLife, and it’s one of those “how are you doing all this and still broke?” stories. Yet it’s real, and painfully familiar.
This week’s Love Currency is about a couple with wildly different money habits. One’s a disciplined saver, the other just wants to enjoy life a little. The tension is palpable. And it’s got one half of the couple asking: Is this really going to work?
There’s also the hard lesson of what happens when you make a big financial leap and life pulls the rug out. In this context, it’s a ₦2.7m loan, a job loss, and a debt story that’ll make you grab your calculator.
Ask Aunty M: I Save 80% to My Salary but I Struggle for the Rest of the Month
Where The Money At?!
#NairaLife: He Has Multiple Side Hustles, but He Just Wants a Stable Cash Flow
From photography to cleaning and CCTV installation, this #NairaLife subject has done it all. However, bad financial decisions have marred his various money-making ventures.
He’s recognised the pattern and is now ready to fix it. But first, he needs to find a stable income.
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Love Currency: This Writer’s Frugal Lifestyle Is Causing Friction in His Relationship
Etim* (29) and Mandy* (25) have been dating since 2022.
For #LoveCurrency, Etim talks about the differences in their financial habits, acknowledging that he’s the saver in the relationship, and the one reason he might end their union.
I earn ₦150k/month and put aside ₦120k monthly to rent a place because I set a deadline for myself. I live with my mum, and it’s becoming insufferable. Then I live on ₦30k. But I have to borrow money at the end of the month. Any advice, please? – Cassandra, 28
Hi Cassandra. You borrow money each month because your savings rate is too high compared to your income. You are saving 80% of your income, but that isn’t realistic based on your expenses. ₦30k is nearly impossible to live on unless someone is covering some of your expenses. You need to figure out how much you spend every month. To do so, start tracking your expenses. Write down everything that you spend money on each month. Once you do that – let’s say you figure out that you usually spend ₦60k monthly – have two options.
The first option is to reduce your savings to ₦90k per month so you don’t have to go into debt. This will mean moving out will take you longer, but you won’t be in debt. If you are steadfast in your decision to move out by your deadline, you need to increase your income. Using the ₦60k example again, look for jobs or a second source of income that can account for the ₦60k you need to live on monthly plus your ₦120k savings, meaning you need to make at least 180k monthly. This will allow you to cover your monthly expenses and save without debt.
Lastly, remember that once you move out, you will incur many more expenses than when you lived at home. I’m not trying to tell you to stay home, but be realistic about how much you will have to spend once you move out, as now all food costs, rent, home maintenance, and more will be on you. I don’t want you to move out and now get into more debt trying to maintain the new home.
Try to increase your income before moving out, and ensure the place you move into is within your means, even if it means getting roommates to lower the costs.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
What happens when your partner might be — for the lack better word — your financial opp?
On this week’s Love Currency, you’ll find the frustrations of a woman batling her husband’s impulsive habit of giving away their money — mostly to the church. She’s stuck between navigating this and the real need to secure their future. How are they making it work?
The subject of this week’s #NairaLife has a different kind of struggle.. Four years ago, she agreed to manager her father’s business. Now, while the money works for her, she’s wondering is she traded her dreams for a steady income.
And there’s Aliya* (22), who has been fighting for her freedom since she was 17. She shares how financial independence helped her break free from an abusive family and build a new life on her own terms.
Tired of the stress of moving money across borders?
With Juicyway, you can seamlessly send, receive, and convert fiat or stablecoins like USD, CAD, USDT, and USDC in Nigeria—at great rates. Free multi-currency accounts, instant transfers, and top-tier security? Say no more.
My Family’s Abuse Pushed Me to Become Financially Independent
Aliya* (22) has been earning money since she was 17, primarily driven by necessity.
In this story, she shares how money brought her independence from her abusive family, allowed her to self-sponsor her education and pursue a better life.
I helped a family member pay off a substantial debt. To do this, I used all my emergency savings. Then things started to spiral out of control; unexpected expenses popped up, and soon I couldn’t save anymore. Worse, my income couldn’t stretch to the end of the month, so I started taking out loans. Now I’m stuck in a cycle of debt, and the interest payments are killing me. Since the start of the year, at least half of my income has been allocated to servicing these loans, and the other half barely covers my living expenses. I haven’t been able to save or rebuild my emergency savings.
I wish to hit the reset button. How do I get out of this? – Abimbola, 26
Hi Abimbola. I think it’s great that you’re self-aware and know the mistakes that got you here. It will help you get out of the situation you’re in.
The first thing I need you to do is to track your spending and know where your money is going every month. How much are you spending on your fixed expenses? This gives you a sense of how much money comes and leaves your account every month.
The next thing I need you to do is figure out how long it will take you to pay off your debt at the current rate. Let’s say you’re paying ₦40k towards your debt every month, how much is the total value of your loan plus interest? And how long will it take you to get out? Many people are unaware of how long it will take them to pay off their loans, which can be demotivating. Knowing how long it will take allows you to establish a timeline and determine how much you need to increase your repayment to get out of it faster.
You also have to try to make more money, unfortunately. Currently, your income is likely not enough to support the loans you’re repaying. So you could look out for opportunities to get a new job, a second job or a side hustle … something. It just needs to be consistent so you can pay more towards your debt.
Additionally, you could take a loan from a family member or a friend. With this, you will simply repay the lender every month — this is typically at a zero per cent interest rate. So you can get out without paying an exorbitant amount of money in interest payments. I want to emphasise, though, that you don’t take this and not pay your family member back. You don’t want to destroy the relationship.
Once you’ve started to make a bit more money, you can begin to rebuild your emergency funds. Again, you’re very self-aware, and I know you can get out of this. I hope this is helpful. I’m rooting for you.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
Isn’t it fun when the week kicks off with a public holiday? Sign me up every time.
You get this dispatch, though, public holiday or not. The things we do for community, eh?
I think it’s fascinating how money is deeply personal. It shapes our relationships, influences our decisions, and often holds up a mirror to where our headspace really is.
That truth shows up clearly in this week’s stories:
It could be figuring out how to manage sudden wealth, as seen in this week’s #NairaLife, where a 23-year-old virtual assistant went from earning ₦33k to nearly $ 1,000 monthly. Or navigating romance in Lagos with a partner who’s quite used to living in luxury.
And then there’s friendship. Money doesn’t just buy experiences; sometimes, it costs relationships, like Jenny’s, who shares how becoming the “rich friend” meant losing her best friend.
Ask Aunty M: What are the Best Investment Platforms?
Where The Money At?!
This Virtual Assistant Wants to Learn How to Manage Her Foreign Income
For the 23-year-old in this #NairaLife, money isn’t the problem; it’s making the best use of it. She became a virtual assistant in 2024, and this move increased her income from ₦33k to almost $1k/month.
Now, she just has to figure out what to do with the dollars she earns.
Tired of the stress of moving money across borders?
With Juicyway, you can seamlessly send, receive, and convert fiat or stablecoins like USD, CAD, USDT, and USDC in Nigeria—at great rates. Free multi-currency accounts, instant transfers, and top-tier security? Say no more.
I Lost My Best Friend When I Became the “Rich Friend
Jenny* (31) and Mercy became friends in 2006, and they quickly became almost inseparable. To outsiders, they were best friends forever. But things weren’t as they seemed — something always shifts when money enters a friendship with an uneven power dynamic.
Jenny unpacks how money and power shaped their friendship, and how her relatively late but rapid income growth might have been what broke it.
Hello Reni, thank you so much for this platform. I currently earn ₦390,000/month, and I have a side hustle that brings in about ₦150k monthly on average. I currently have $2000 in savings in Risevest, and my savings for the year 2024 are estimated to close at ₦2 million naira. I want to invest this money.
Could you please advise me on what to invest in and what platforms to use? – Tee, 26
Hi Tee, thank you so much for your kind words. Well done with your income and savings.
Let’s talk about how to invest wisely.
Let’s start by clarifying your goals. Before putting your money anywhere, ask yourself: Do I want to grow my wealth over the next 3–5 years? Do I want liquidity in case I need the funds soon? Am I open to some level of risk for higher returns? From what you’ve shared, I sense you’re ready to take intentional but calculated risks, which is great.
If you want to invest in Dollars, you can use platforms like Risevest, Bamboo, Trove, or Chaka. These allow you to invest in US Stocks and ETFs from the comfort of your phone. As a Nigerian, I like investing in US-denominated assets because the currency is a bit more stable than the naira, and historically, the economy has been quite stable and strong over the long term.
You can start by buying Exchange-Traded Funds (ETFs). These are basically a group of stocks put into a fund managed by a professional fund manager, and you pay a small fee in exchange for them creating a well-diversified portfolio for you. This is my preference because you can buy a well-diversified portfolio with just a click. Some funds you can look into are VTI, VOO, and VEQT to start.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
Jenny* (31) and Mercy became friends in 2006 and they quickly became almost inseparable. To outsiders, they were best friends forever. But things weren’t as they seemed — something always shifts when money enters a friendship with an uneven power dynamic.
In this story, Jenny unpacks how money and power shaped their friendship, and how her relatively late but rapid income growth might have been what broke it.
This is Jenny’s story, as told to Toheeb.
It was an evening in December 2022, and I was sitting at a table in a ridiculously expensive restaurant that my best friend, Mercy, had invited me to. I was flanked by her friends, whom I barely knew. The thing, though, was that she had pitched the dinner for both of us to celebrate a raise I’d gotten at work.
“You’re now a big girl,” she said. We should go out and celebrate this.”
So, I thought it would be just us. But this wasn’t entirely strange either. Dinner with Mercy almost always meant hanging out with her friends.
When the night ended, the group’s bill was ₦150k. Then Mercy passed the tab to me and asked that I pick it up. Her response to my puzzled look was, “You’re the richest person here. You’re now our big boss.”
I tried to meet her in the middle, offering to pay for both of us and emphasising that I didn’t care about anyone else at the table. It was only fair, as I didn’t invite them.
When I told her I couldn’t — wouldn’t — pick up the whole tab, she cried, “Why are you trying to embarrass me in front of my friends? I’ve hyped you up to them.”
I thought it was madness and didn’t want to be a part of it. I’d only told her about my raise because I wanted to share an important win.
Big mistake. The night was the beginning of the end of our friendship.
But I’m getting ahead of myself.
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Mercy and I met during a transformative period in my life. The year was 2006, and my family’s fortunes had started to change after my father passed. That’s a whole ‘nother story.
Let’s just say that before my dad’s death, it didn’t occur to me that I had certain things that other people didn’t have. I thought everyone else was in the same tax bracket as my family.
My mum sold everything to keep us in our ‘elite’ school. When it wasn’t enough, we were ultimately forced to switch schools.
Mercy and I met at my new school and bonded over our shared experiences. We were both new students, and she’d also recently lost her dad.
We became fast friends, hanging out for hours after school. Sleepovers followed, because we didn’t think we could spend enough time together.
Fast forward to 2009, and it was time to write JAMB. I couldn’t write the exam that year due to a registration mishap. Mercy did, and was accepted to study at a university. Me? I had to try again the following year.
I didn’t realise it then, but we’d started to take different paths. And in the first act of our lives, Mercy would get her lucky breaks much earlier than I did.
During one of our sleepovers, when she returned home for her first semester break, she woke me up in the middle of the night. The conversation went something like:
Mercy: “What are you doing with your life?”
Me: “Huh?”
Mercy: “You know me. I like to hang out with people who are up there. So I can be up there with them.”
Me: …
Mercy: “You’re not in school and don’t have a job. You need to figure out your life, or we can’t be friends.”
I stayed up all night, thinking, “What the hell just happened?”
We barely talked for two years after that.
I still couldn’t figure out how to get into university in those two years. But I found some success with something else: modelling. I didn’t make life-changing money; just the odd ₦5k – ₦50k from runway gigs at fashion shows to pageants, but it was enough to make a living.
To anyone outside looking in, I was doing all right. I guess Mercy thought so, too.
On her birthday in 2012, she called and asked me, “Why did we stop talking?”
I replied, “You made it obvious that you didn’t want to be friends.”
I thought she reached out because she missed me, so I gave her grace. We were back in each other’s lives.
Still, university wasn’t happening for me. I couldn’t get an offer into my university of choice — the one my dad wanted me to attend. Besides, my sister was in uni, and my mum couldn’t put us both through school simultaneously.
I finally got into a polytechnic in 2016, seven years after graduating from secondary school. In one last-ditch effort, I tried to transfer to the university, but when it didn’t work, I decided to see my time at the polytechnic through.
Now, we’re in February 2020.
I’d just graduated from the polytechnic. Mercy had left school and had been working for years. We’d hang out every few months when she came home, and she’d pay for everything. Believe me, I didn’t feel a type of way about it. I was just super happy that one of us had some stability. I called Mercy my “sugar mummy.”
In true sugar mummy fashion, Mercy asked me to leave our town, where nothing ever happens, to hustle in Abuja, where she lived. She was going to introduce me to all the right people. I wasn’t in a rush to leave. My job paid me ₦25k/month, and I was making it work. I was fine living in my mum’s house. But Mercy also offered me her place to stay.
So in 2020, I quit my job, packed my bags and moved to Abuja.
Mercy shared a spacious mini flat with a roommate, and when I moved in with them, one of the first things I asked her was the rent. The plan was to start figuring out how to chip in.
She told me, “₦2.8m.”
Ah.
I’d just moved to a new city and hadn’t found a job. Even if I had, I didn’t think I could afford such an expensive apartment. I told her all of this, suggesting finding somewhere cheaper might be more practical.
She argued, “Why would you assume you can’t pay for it? Do you know what kind of job you will get? This is Abuja. You’re going to move with the movers and shakers.”
I found a job, and it paid me ₦50k. I wasn’t moving with the movers and shakers.
More importantly, Mercy and I had different lifestyles and money habits. I liked to plan for the basics — rent, for one — while she didn’t. She hadn’t paid her rent since 2018. I found out when the landlord came and threatened to throw us out. Again, I asked her if we should consider moving to more affordable housing. She didn’t budge.
“Don’t worry, this is Abuja. You have to package yourself. This is how you blow,” she protested.
I shut my mouth as she bought her bone-straight wigs and expensive clothes. She often bought me clothes, and I was incredibly thankful for them. That said, she never asked for my input on these things. She just bought them, and it didn’t matter if I liked them or not.
That’s how it was with us. I was — forgive the pun — at her mercy. I was the broke friend, after all.
Dynamics like this often rob you of your autonomy — your sense of individuality. There was a limit to how freely I could express myself or what I could say no to.
On my birthday in 2020, I planned to buy Suya and watch movies. Mercy wouldn’t hear of it.
“Why will you eat Suya on your birthday? I keep saying you have to go out to network and mingle,” she said.
Later that night, I was at a restaurant she picked, in a dress she picked out for me, and in the company of people she selected. At the end of the night, I was asked to cough up ₦35k to pay for a meal I didn’t even want. That was 70% of my salary.
Naturally, I was upset. And she was pissed off by my reaction.
She was like, “I’m trying to give you a good time. I went all out for you, and you’re giving me attitude because I told you to pay. It costs money to have this lifestyle.”
That’s the thing; I didn’t want a lifestyle I couldn’t afford. The biggest realisation was that Mercy could be mad at me, but I wasn’t allowed to be mad at her. I couldn’t afford it.
And she was mad at me a couple of times.
Once, a guy she was seeing called her, and I asked her not to pick up the call. For context, the guy was one to send her flowers and then ask her to pay for them.
Their calls usually ended with her in tears. But she refused and went into her room. She didn’t come back out, so I went to check on her — and there she was, in tears.
I blurted, “You need to open your eyes and see that this guy is trash. Why are you acting as if you cannot get someone better?”
This girl stood up, walked a few steps towards me and slapped me across the face, yelling, “How dare you treat me like a child?”
Thankfully, that was the only time she hit me. But I had moved out of her apartment when this happened, so I had a home I could return to. I moved into a single face-me-I-face-you room in the biggest slum in Abuja. It cost ₦140k, but it was mine. I could plan my life without the threat of a landlord throwing me out.
In October 2020, things looked up. I got another job at an agency, and my salary moved from ₦50k to ₦65k. Man, the job was tedious — I was the content creator, admin officer, and HR — essentially running the place. But the job gave me a semblance of income growth. I was there for two years.
More differences between Mercy and me, especially with money, are coming to light now. I optimised for functionality; she did not. One time, she made fun of me endlessly for a secondhand travel box I got for ₦12k. It was a good bargain, but Mercy was like, “God forbid.”
But yeah, she could ‘afford’ the pretty things. I couldn’t.
Around this time, the agency I worked at started crumbling. A key executive left the business, and everything fell like a pack of cards. So I started looking for work. I was spending so much time on LinkedIn job boards that I wondered how I got any work done. But it paid off, and I got a new job. My new salary was ₦175k/month.
It was now July 2022. I moved into a new apartment, which cost ₦400k/year. There was now a strong sense of growth.
My new boss was great. He rewarded strong work ethic and excellence. He wasn’t bound by a strict salary increment schedule, either. When impressed with an employee, he’d ask Human Resources, “Can you bump up X’s salary?”
The structure helped me, and I got rapid raises. By December 2022, my salary had increased to ₦250k. The next milestone was ₦400k, then ₦450k. My income had increased by 592% in only three years. My life was turning around.
I told two people about this development — my mum and Mercy.
Now you’re caught up. This is where you met us at the beginning of this story.
After the restaurant situation, I extended an olive branch and bought her an apology gift. But I also knew we couldn’t hang out outside anymore — our tastes were wildly different. Subsequently, when I wanted to see her, I’d visit her at home and bring food with me. She invited me out a few times, and I said no every time. If this bothered her, she never complained.
The dynamics were changing. For the first time since we’d known each other, I could do what I wanted with little protest from her. There were small jabs and comments now and then, but they were tamer compared to the attacks I was used to.
However, she told people about my raise, leading to one of the most stressful periods of my life. We had multiple mutual friends because we’d known each other for so long. Then, I started fielding calls from multiple people in our friend group asking for money or financial favours.
“Hey. I’m getting married and would like to be one of my aso-ebi girls,” one text read.
Someone else reached out with “My car is at the mechanic. How much can you spare?”
Then there were the multiple “Please, I need money.” or “My rent is due.”
This was my life almost every day. I was happy to help in the beginning, but the calls and requests never stopped coming in. I was exhausted that this was happening — and that it was happening because my best friend shared a piece of news that wasn’t hers to share.
Again, I didn’t cut her off because of this.
In 2023, during a random conversation with a mutual friend, Mercy came up, and she revealed a few things Mercy had said about me. It was a bunch of stuff, but a few phrases stood out:
“You should have seen her when she came to Abuja with her Ghana-must-go.”
“She was poorer than a church rat.”
“I clothed and fed her, and she didn’t pay me a dime.”
“She’s so ungrateful. She now has wings.”
It was weird, and I suspected we couldn’t be friends for much longer. But I was deep in something else at the time: planning my relocation. I was going to join my husband in the UK — yes, I got married earlier in 2022. I left Nigeria in July 2023.
Mercy was one of the first people I called when I landed. When the call ended, I deleted her number and blocked her everywhere. That was the last time we spoke.
She hasn’t tried to reach out, so I imagine we’re both aligned that this had to happen. It sucks not to be friends anymore after being in each other’s lives for so long.
But I guess even old friendships run their course. Ours ended when I finally had autonomy.
It’s a fair trade.
Editor’s note: Names have been changed for anonymity.
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What does being a housewife navigating life on a ₦100k monthly allowance mean? The subject in this week’s Love Currency knows a thing or two about it. On the surface, everything fits the traditional script: her husband earns, and she manages the home. But underneath this setup, she’s restless. She wants more — financial independence, a sense of purpose, and a shot at building something.
Then, in #NairaLife, we meet a 29-year-old waitress whose week is defined by how much she makes in tips from her job. She’s not sold on the continued sustainability of this plan, so she has her eyes set on something else: a university degree.
Tired of the stress of moving money across borders?
With Juicyway, you can seamlessly send, receive, and convert fiat or stablecoins like USD, CAD, USDT, and USDC in Nigeria—at great rates. Free multi-currency accounts, instant transfers, and top-tier security? Say no more.
Love Currency: The Lagos Housewife Trying to Make the Best of Her ₦100k Allowance
Merit* (33) and Ebuka*(33) are in a typical traditional marriage, but Merit wants more.
For #LoveCurrency, she shares her dissatisfaction with not having an income, why she thinks getting a job would benefit their relationship, and their plans to leave the country.
I have about ₦20m, aside from my emergency funds and current savings and investments. But I don’t know what to do or where to start.
I also have around ₦3m in the money market, $2k across Risevest and Piggvest, and some savings across Piggyvest and traditional savings accounts.
There’s so much information, and it can be a bit overwhelming. I feel this need to act quickly to make the most of this money.
I was considering changing most of it to about $10k, as I have a few trips for the year, and I think it’s best to preserve the value of my money. But I’ll still make more than ₦20m in salaries over the rest of the year. So, where do I start? — Ella, 25.
Congratulations on saving ₦20m, that’s amazing. You don’t need to act quickly; you need to act strategically so that your money allows you to go on the trips you want, invest, and save for the future. Start by calculating how much the trips you want to take for the next year will cost. If it’s ₦10m, take ₦10m from the funds and save it in a savings account titled travel fund.
Next, think of any other big purchases or savings goals that will arise in the next year. Put money in separate accounts for each of those goals. This could be a car fund, rent fund, wedding fund, etc.
Now that you have sorted your short-term goals, let’s look into the long-term ones. You want to invest for the future. With Bamboo, you can invest in the US stock market. I would recommend ETFs to begin. This means you are investing in a group of companies rather than an individual company. To invest in the entire US stock market, you can type “VTI” on your investing app and purchase that fund. To invest in the 500 largest companies in the US, type “VOO”.
Lastly, don’t just buy stocks once and forget it; build it into your routine, where you purchase stocks and ETFs monthly every time you get paid. This is how you build wealth consistently.
Optional choice: This is the perfect moment to sit with a financial advisor or coach (even for a single session) to review your portfolio and plans. A second set of experienced eyes can bring clarity.
You’re not behind. You’re not “wasting time” by pausing to think. You are doing exactly what wealthy, intentional people do — slowing down to be strategic.
And that’s how money multiplies.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
If you’re here, chances are you’re a fan of stories about upward income trajectories and might even like those marked with seemingly rapid income growth. Today’s Naira Life gives us that.
My favourite thing about these kinds of stories is uncovering how people’s relationships change when their life does a 180. So how does a 22-year-old who earns 10x what he did last year navigate this “life-changing” income? How did he even get here?
Meanwhile, the blessing or curse [depending on who you ask] of being the highest earner is the onslaught of responsibilities. But what happens when expectations fracture family dynamics? That’s the running theme of the second story in this dispatch.
Tired of the stress of moving money across borders?
With Juicyway, you can seamlessly send, receive, and convert fiat or stablecoins like USD, CAD, USDT, and USDC in Nigeria—at great rates. Free multi-currency accounts, instant transfers, and top-tier security? Say no more.
6 Nigerians Share Their Real Money-Saving Hacks for Surviving Inflation
The rising cost of living is forcing Nigerians to rethink their spending. From cutting back on essentials to sacrificing luxuries, survival now means making tough choices.
We spoke to six Nigerians about their real money-saving and spending hacks in today’s challenging economy.
Read their stories here.
Ask Aunty M with Reni
I just finished paying off a loan I took, but I’m facing new financial challenges. I need to cover my sister’s school fees and my master’s degree instalment payment, but my salary hasn’t increased despite significant growth in my role. I’ve officially asked for a raise, but they keep stalling. I really enjoy working at my company, so job-hunting hasn’t felt like the right move, but with my bills piling up, I’m running out of options. The only solution I see right now is taking another loan, but that’s not ideal. As the first child, I don’t have much financial support, and I’m not in a relationship, so there’s no fallback. I’d really appreciate your advice — it’s been weighing me down. What would you do in my situation? – Laila, 27
Laila, God bless you for taking on all of this. It’s really giving firstborn energy. As a firstborn daughter, I can relate. But remember that you cannot pour from an empty cup. You are being depleted in two ways. First, you’re paying school fees, which will lead to you being in debt. Not only are you pouring from an empty cup, but there’s a hole in the cup, and what was in it has left a stain on your pants.
Please, please, please calculate how much interest you’ll be paying on this loan. Can your sister, parents, or other family members contribute to her fees? Can your sister take out a loan herself? The ideal situation is that you give from your surplus, meaning you do not go into debt for this.
Your quality of life is suffering because of this choice, which isn’t your responsibility. I suggest you come up with a fixed amount — within your current means — that you can commit to the fees. Above that, the money has to come from another source that doesn’t require debt.
The second way you’re depleting yourself is by staying at a job that no longer serves you. Yes, you enjoy the people, but who says there isn’t a job where you’ll love the people, feel fulfilled by the work, and also get paid a decent salary that can take care of your household expenses?
This will also allow you to give to your loved ones, save, and invest so you can pour into yourself.
I think you should challenge yourself to start looking for new roles that fit the criteria I mentioned. And I’m rooting for you.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
It’s interesting that you could go from having barely enough to having more than enough — but struggle to know how to spend it.
The 31-year-old in this week’s #NairaLife has lived many lives and is living this reality. After years of hustling, she’s found a rhythm, with an income that exceeds what she once thought possible. But despite her financial security, she struggles to enjoy her money.
On #LoveCurrency, Joseph* (26) navigates love, money, and his girlfriend’s family obligations. The thing is, as their relationship gets more serious, so do the expectations. How much should he step in? And is this sustainable in the long run?
Also, a Nigerian consultant has unlocked the secret to rapid income growth, taking his salary from ₦183k to ₦2.6m/month in just five years. His strategy? Strategic job moves, bold career pivots, and a mindset shift about his worth. If you’ve ever wondered how to level up your pay slip, this story might be your blueprint.
The #NairaLife of a Marine Engineer Who Doesn’t Know How to Spend Money
The 31-year-old in this #NairaLife has lived the perfect example of a grass-to-grace story. She’s overcome environmental limitations through sheer grit and a bit of luck.
However, her improved financial standing hasn’t been as transformative as she’d like, and she wants to fix that — by spending more.
I can’t develop a savings habit no matter how I try! I have never saved anything in my life. I always turn to external support, loans, and large instant expenses to solve my problems. My only income—a ₦96k/month salary—lasts less than a week and barely affords my basic needs. When I keep money away in a separate account, I run back to withdraw it. How do I learn how to save? – Nike, 25
Hi Nike. It’s hard to save when your salary does not cover your basic needs. Sometimes, we have spending problems; other times, we have income problems. You may have both in this case, but I think it’s primarily an income problem. The best thing you can do is focus your efforts on finding a higher-paying job.
While at it, track your spending for the next few months to see how much you are truly spending on your basic needs monthly. Let’s say you’re spending ₦300k/month. You need to target a job that pays you at least ₦400k/month so you can spend on yourself and also afford to save. You can’t afford to save right now because the bills exceed your income.
Increasing your income will truly help you the most in this situation. Once your income increases, ensure you keep your expenses the same. Live as you were currently living. Then, you’ll find that there will be no need to dip into your savings anymore because you have adequate income for your needs and savings goals.
We can’t say we’re about the money and not actually help you find the money.
So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.
