Another day, another X/Twitter space recap, and today we’re talking money and making it big before we reach the third floor. On this episode of our HER conversation, we had Rita Bandele, Founder of Style Lagos, Fatima Garba, host of the Never Fully Understood Podcast and Dr. Temilola Adeyemi, an Investment Strategist, speak on what we need to do to secure the bag.
Here’s a wrap-up of everything you need to know to avoid financial ruin.
1. Drop the ‘If I Perish, I Perish’ Mindset.
The girls who have money don’t just grow it in their pockets (except the trust fund kids); they work hard and keep their pockets fat and buoyant. They remained true to themselves, dropping impractical mindsets that drove them to spend pennies for the sake of living. These days, we’re quick to label every day a rainy day, allowing us to justify our bad spending habits and lack of discipline. But even if it rains 24/7, the downpour won’t always be heavy. Maybe we ought to let ourselves perish on some days to have better days.
2. Say No to Follow-Follow
Our speakers were quite passionate about this one; they might as well have dragged our ears in class.
The only reason some of us live above our means is because of the kind of people we’ve chosen to live life with. As much as we might want to be the same as our closest friends and worst enemies, all fingers are not equal. We’re not saying don’t hang out with your friends or follow people who have money. What we’re saying is, know when to say yes or no and let your financial capacity inform your decision. Life is for living, but how much of that can we do in the long run if we’re running our pockets dry at any given opportunity? Sometimes, the problem isn’t even that we follow people with money and live above our means. Sometimes the issue is our own acquired long throat and friends whose eyes are just as big as ours.
3. Protect Yourself, Or At Least Your Values
Establish boundaries on financial transparency and generosity in relationships. No exceptions. One of our speakers thinks it’s unnecessary to be transparent with finances in romantic relationships, while another disagrees because life comes at you fast. Whatever their reasoning, all three agreed on the need to establish clear boundaries on our financial capacity with the people we care about, including family. Money will always be an issue, and there will always be solutions. You don’t always have to say yes just because you think you can. No is not a wrong answer, it’s just not what people always want to hear, and that’s okay. Everybody’s problem cannot be your problem.
4. Keep Yourself Accountable
Budgeting was another famous girl in this conversation, and our speakers took her seriously. First of all, you need to get on the 50:30:20 rule with your funds. 50% of your total earnings should be targeted at sorting out necessities such as rent, transport and feeding. 30% is for you to get your life together or bring it apart, which really means things that aren’t necessities. 20% should be locked safe and out of reach. Apparently, we need to get serious about budgeting if we want to reach financial freedom. Even we were shocked by that. Our speakers also recommended looking at our accounts to see what we’re spending our money on. Chances are, you’d either be proud of yourself or utterly disappointed. Tell us which, let’s see if we match.
5. Start With Anything
Another thing our speakers agreed on is a core factor or metric used to define financial freedom: not constantly relying on monthly pay checks. If we’re always waiting for the 24th or last week of every month to get our lives together, there isn’t much we’re getting together. So, what do we need to do? Invest, and start with whatever you can. This is why budgeting with a workable formula is important, because an identified portion of whatever we have is dedicated to keeping our lives on track. Our favourite thing about this tip was realising that investment doesn’t always mean setting money aside for the future. Sometimes, it’s what we decide to do for ourselves to increase our earning capacity. As long as it’s bringing more money (legally, please), it’s a yes from them.
So much was said about what we need to do to level up in our 20s, and the best part is that there’s no age limit on what we need to do to get it right. The work just gets harder, but the earlier we start, the better it is for everyone.
Listen to the X/Twitter space conversation to see what else you need to do to get your finances in order. Hurry, please, before it’s too late.
Today Tuesday June 17, 2025, we’re discussing salary negotiations- why we need them and how to go about it on our X/Twitter space at Zikoko_Mag, 7:00pm WAT. Join us for tips on how make your pay reflect your worth.
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