Friendship : Life in the context of money.

Most times when we talk about money, we see it as merely a means to live the life we want but that only makes us ignorant people, we must be able to develop sustainable relationship with our life in context of money and like every friendship we begin with introducing ourselves.

Hello Money, My name is …, I would like us to be friends.

Sounds a little of place yeah but remember this is love and finance, anything is possible.

I don’t know where my friend is?

Imagine you have someone you call your bestie, you all live together and stuff but every time you are asked where is your friend, your automatic answer is ‘I don’t know’ while that may work in your human friendship, if you keep saying I don’t know to where your money goes , it would end up being a financial disaster in a long run.

Where does your money go?

For every penny you have, there is a bucket it goes to and this bucket each have a purpose that will open your eyes to whether you are doing well or there is a lot to be done.

After my service year in 2020 , I came back home with zero savings, no job, stay at home mini servant for my mum, depression, low self esteem, extremely underpaid writing job and of course heavy dependence on all my loved ones for my financial needs. Hmmm, thank God for growth! This is not what anyone should go through in their lifetime but well, we all seem to have similar problems after service year. Maybe you saved, well good for you, Our stories cannot be the same.

In other words, I was broke! One fateful day, I decided to calculate what I had spent in last 2 month and I realized that  I have successfully unconsciously not only had #70,000 in that month but also have nothing left of it , in this moment, I knew I needed to know where my money goes and that is the moment my financial knowledge quest began.

The Financial Buckets

The buckets are Assets & Liability. Assets stands for anything that gives you money, it is what multiplies your money it can include Savings, Investments, Insurance, Estate etc. Liability is what takes money from you, you already know them, Data, Airtime, Transportation, Feeding, Splurge, Show off money etc  The problem begins when the liability is more than the asset, which is how  the living from hand to mouth lifestyle begins. Remember that my #70,000 , well, it all went to the liability bucket.

Reflection : Get a sheet of paper, draw a line , write asset on the right side and liability on the left side, recount the last money you received and how you spent it and begin to fill in the gaps.

Breathe in & out, how did you fare? , Whatever result you get , don’t be angry with yourself. We are here for mistake management, it is not a perfect journey , all that matters is small improvements daily.

Now that you know where your money goes to what next?

See you Next Monday.

You smell like 💰


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