Savvy Savings Plus Smart Spending Equals Massive Money

Ah, savings! That word alone can make some of us feel like, "Biko, life is already hard, let me spend my little money in peace." But hear me out: savings and smart spending are the ultimate glow-up combo for your finances.

No, seriously! If you've been thinking that financial wisdom is only for bankers and Linda Ikejis of this world, it's time to rethink. Everyday, people like you and me and even some of your fave mentors have unlocked their next levels with savvy saving and wise spending. You don't believe? I'll tell you!

We can all agree that life is no beans, especially in Naija. Fuel prices are sky-high, small catfish peppersoup now, account balance is bleeding, and even basic necessities are getting pricier. If you want to survive these turbulent waters, saving and spending wisely is not just an option—it's the compass guiding you away from perpetual sapa.

Plus, as a lady, imagine all the wahala you'll save yourself by having some vex-money sitting pretty in your account and even as a man, being called Odogwu Silencer is sweet, right? Saving is like a financial insurance policy that'll have you chuckling all the way through life's many twists and turns.

Now to smart spending...

Smart spending means knowing when to splurge and when to chill. It's about being intentional with where and how you spend your cash. See ehn, not everytime your device should notify you of debit alerts (except if you did an auto transfer to your savings account, of course!)

The OGs of Savings and Smart Spending

Some famous personalities we love today started from the bottom, and now they're here. And believe me, they didn't get to where they are by spending money anyhow.

You know the story of Cosmas Maduka, right? Yes, the owner of Coscharis Limited! That guy went through a lot before he made it big. I mean, he and his siblings took turns to go to the then elementary school as his parents could not afford to send all the kids to school at once. But have you seen him now? He owns one of the tallest buildings on Adeola Odeku, Vi, Lagos, thanks to savvy saving and smart spending.

How about Vickee James? You know her, right? (you are a Gen Z like us so you wouldn't say no!) Vickee James started from Ajegunle, in her mum's parlour, to sew clothes, saved the 1k she got for every sew and within five years, she has moved from Ajegunle to Forbes' 30/30. This she achieved with disciplined saving and careful spending and of course, she worked her way up, one kobo at a time. She's counting millions with a success story that proves patience, savings, and wise spending are a money-growing cocktail. I picture you doing even more amazing stuff!

So Here's the Trick…

You need to identify your needs from your wants (as an example, that fifth designer shoe you saw on Instagram yesterday? That's a want, sis… I mean you already have an amazing collection of shoes so drop Olojukokoro, please). Be like Cosmas in your mind, calculating each kobo, because every single one counts. Smart spending means finding deals and discounts (hello, awoof, we see you!) and focusing on long-term gains instead of immediate satisfaction.

Tips to become one of the OGs when it concerns savings

Alright, now that we've been inspired by some real-life ginger, let's break down some savvy moves you can start making today.

The first is the 50/30/20 rule. You must glow while saving because it's really not about starvation or deprivation but about priority and future plans. So, take 50% of your earnings and spend on needs like rents, bills and food (it's important to hold stomach down before eye starts to turn on its own). 30% should go to wants and of course, Mama must chop (add her mouth here). And 20% should be for savings. But if you don't have much responsibilities, save 50% and use the rest to flex (You cannot come and kill yourself after all!).

Set a Savings Goal

It's easy to derail in saving if you don't have what you are saving for. So, come up with a good goal that can keep you motivated to save. Is it saving to Japa, investing in your business, or just avoiding sapa when the month is halfway through? Set a clear target and write it down! That's your map to financial freedom.

Delay Impulse Purchase

Like I always say, temptation to get unnecessary things is real. It's like peer pressure. But then, when you feel the urge to get something you didn't plan for in the month, ask yourself: do I really need it? Delay the purchase for a day and if you don't even remember it after that day, omo, impulse buying played a game on you!

Be disciplined

You know, all these grammar I've been speaking boils down to discipline. Don't be like oga Sabinus; you can actually do this thing, trust me. All you need is to give bombastic side eye to the things you didn't plan for in the month, knowing that savings is the goal.

You know what, at Digitvant MFB, we have savings accounts that you can channel you money to and watch it grow like grass. It's not just convenient but very seamless and highly secured— your data and money is in safe hands!

Ready to level up with the OGs? Bell us on (+234) 707 010 7347 or visit 9A, Folawewo street, Off Allen, Ikeja, Lagos.