Let’s throw it back to economics class in secondary school. Right before the voluminous notes you had to write got you wondering if education was really necessary. You’d remember your teacher telling you, “Human wants are unlimited and the resources to actualise these wants are limited, so scale of preference comes into play.”
At that point, you probably thought it was an easy thing to do. Get money, save some, and spend the rest. How hard could it be? Well, how’s that working out for you now? If you are like a lot of young Nigerians, struggling with finding a balance between saving and spending money, this is for you:
When Salary week approaches and you make your budget
You’ve been told that anybody serious about saving money needs to make a plan of how their income will be used. You are serious, or at least, you think so, prompting you to download all the budgeting apps you can find and also using the good ol’ pen and paper to plan how you are spending your next salary.
How you look at the credit alert on your phone when it enters:
Salary has finally entered, and for a moment, you feel on top of the world. Then you start coming back to reality with one thought in mind; the money is yours, but really, it’s not yours.
When you remember all the debts you owe:
Somehow, you forgot all the people you owe money when you were making your budget and the only time you remember is after you’ve come back from the initial excitement of getting your salary or when they start sending you subtle but not-so-cryptic messages.
When your charger spoils and you wonder if deviating a little from your budget will affect your saving goals
Because unexpected expenses make constant appearances in the adulting financial world, something you’d not planned to spend money on but you need will become a situation. First, you do the ritual of debating if you should stick to your budget, but deep down, you know it is futile.
When you see calls from your younger siblings, knowing what those calls are about
Elder brother/sister duties don’t come with breaks. Your siblings can call you any time, but they prefer the end of the month calls, which is a problem for you and your plans.
After you’ve spent a little more than your budget
Life has happened to you again and the money you thought you had has become something of recent memory. Now, the remainder is only enough to get you through the month. You may have failed this month, but we go again next month.