238 Views

5 Mistakes Nigerian Girls Are Making With Money

Every girl makes mistakes with money at some point in time: not planning adequately, not saving enough, spending recklessly on something frivolous e.t.c. Unfortunately, some Nigerian girls seem to be eternally stuck in the miry clay of certain money mistakes and are not even aware of how these financial pitfalls are significantly derailing their finances.
Managing money effectively is a key success skill for any sensible Nigerian girl, but to make the decision to become effective with money requires that they first identify what their weakness are and which areas they have been making money mistakes.
Are you a Nigerian girl itching to get your finances right but wondering what money mistakes you are probably making? These  are 5 money mistakes Nigerian girls are making.
1. Not acting their wage 
Nigerian girls are super hard working, they strive to make a living for themselves and that is great. However, a major problem most of them have, especially in Lagos and Abuja, is their tendency to live above their means and not act their wage.
They over-spend on the little things – the small amounts that seep out of their pockets here and there and eventually become large, as well as on big things like buying a car or renting a lavish apartment in Lekki Phase 1; when they are earning just about NGN150,000 a month.
As a Nigerian girl, if your outflow exceeds your income, then your upkeep will be your downfall. Basically, it’s not about the amount you make, but the amount you spend that is the problem.
2. Supporting a broke boyfriend 
The social situation in Nigeria today seems to be different as girls seem to be much more proactive and earning better, while the men seem to have become a bit lazy and there are more broke guys in their late 20s, 30s, and even 40s than there should be. Unfortunately, Nigerian girls seem to be emotional and these broke guys know how to pull their strings. They leech off these women for sustenance, literally depending on them for everything from daily spending money to toothbrush.
For the Nigerian girl, spending money and supporting a lazy and broke boyfriend is a huge money mistake. Pouring money into a feckless boyfriend is like investing in a company you own no part of. It is important that the Nigerian girl ensures she is on the same page, or at least in the same book financially with any boyfriend. That way, her finances are not completely depleted.
3. Going into debt over a big, fancy wedding
Every Nigerian girl getting married in 2016 wants an ostentatious wedding that will be featured on BellaNaija Wedding. This implies pre-wedding photoshoots, exquisite designer wedding ceremony gown and wedding reception gown, hiring a wedding planner, lavish wedding venue and decorations, premium coverage as well as a fabulous honeymoon.
To achieve this desire/goal, a number of these girls drain their groom financially and still go into debt. Nigerian girls need to remember to invest in the marriage rather than the wedding event, as life continues afterward. In fact, a simple rule every single Nigerian should try to live by is this: If you are not in debt, do not get into debt.
4. Going without a budget 
A number of Nigerian girls fail to keep track of how much money they spend per time as they do not have budgets. They are huge on impulse buying and so, tend to make a lot of financial mistakes in that regard.
The truth is, no matter how shrewd a Nigerian girl is with her spending, she will still need a budget. A budget helps control spending and reveals where improvements need to be made. With a budget, it is easier for the Nigerian girl to reach her financial goals as she will know where her money is going and plan in advance how to spend it.
Budgeting is actually very easy if she follows the 50/20/30 Rule which says that from the take-home pay, 50% should be allocated to essential expenses; which include housing, transportation, utilities and groceries; 20% to financial priorities; which are retirement, savings and debt (in that order) and 30% to lifestyle choices; which are gifts, travel, dining out, shopping and everything else.
5. Living paycheck to paycheck 
Most Nigerian girls may have a budget and live within their means, but still not have savings. While it is great to know where every naira will go, the reality is that no one can predict everything.
For this reason, it is important for Nigerian girls to stop living paycheck to paycheck and instead create a budget that would include a small emergency fund that could cover unexpected expenses or surprise doctor’s bill and provide a cushion that will also prevent them from overdrawing on their checking account and paying unnecessary financial fees
Source:  Vanguard

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

WATCH: Toke Makinwa Opens up About Struggle with Fibroid and Recent Surgery
Entertainment
18 views
Entertainment
18 views

WATCH: Toke Makinwa Opens up About Struggle with Fibroid and Recent Surgery

PH - April 26, 2018

Watch this week’s episode of Toke Makinwa‘s Toke Moments as the author and media personality opens up on her struggle with Fibroids, her recent surgery and her…

Mikel Obi Speaks Ahead Of Super Eagles’ Clash With England
Sports
71 views
Sports
71 views

Mikel Obi Speaks Ahead Of Super Eagles’ Clash With England

MT - April 25, 2018

John Mikel Obi says the Super Eagles will put their best foot forward during the international friendly match against the Three Lions of England. The game is…

Like Cee-C, Nina Also Gets iPhone X, Hair and Cash Gifts from Tonto Dikeh and Bobrisky
Entertainment
68 views
Entertainment
68 views

Like Cee-C, Nina Also Gets iPhone X, Hair and Cash Gifts from Tonto Dikeh and Bobrisky

MT - April 25, 2018

Nollywood actress Tonto Dikeh has heightened her social media beef with singer and Instagram influencer, Tunde Ednut. This is coming after Tunde Ednut mocked a video shared…

Revealed: How Korede Bello Paid For His Distinction Results From Nigerian Institute Of Journalism
Entertainment
63 views
Entertainment
63 views

Revealed: How Korede Bello Paid For His Distinction Results From Nigerian Institute Of Journalism

MT - April 25, 2018

Mavin artiste, Korede Bello who graduated from the Nigerian Institute of Journalism with a distinction in Mass Communication (HND),just four days ago has explained in details how…

A Look At The Lagos Slum Where Land Is Allocated At N2k And Residents Live In Dirt
Shocking
63 views
Shocking
63 views

A Look At The Lagos Slum Where Land Is Allocated At N2k And Residents Live In Dirt

MT - April 25, 2018

Life at Mosquito village, a slum in Lagos state, is disgusting, brutal, weird, ephemeral, yet entertaining. The residents live in the cozy embrace of the filth surrounding…

SEE What Eating Dark Chocolate Does To Your Memory And Immunity – New Study
Best of Nigeria
63 views
Best of Nigeria
63 views

SEE What Eating Dark Chocolate Does To Your Memory And Immunity – New Study

MT - April 25, 2018

A new research showed that consuming dark chocolate with a high concentration of cacao has positive effects on stress levels, inflammation, mood, memory and immunity. Presented on…

PHOTOS: This Is How Nigerian Singer, D’banj Is Living Like A King In Dubai
Best of Nigeria
74 views
Best of Nigeria
74 views

PHOTOS: This Is How Nigerian Singer, D’banj Is Living Like A King In Dubai

MT - April 25, 2018

Without a shadow of doubt, D’banj is one artist who qualifies to be described as famous and rich. He also has so much style, so when he…

G-Worldwide Entertainment Unveils 2 New Artists, Easy Jay and Ajura
Entertainment
64 views
Entertainment
64 views

G-Worldwide Entertainment Unveils 2 New Artists, Easy Jay and Ajura

PH - April 25, 2018

G-Worldwide has just announced the latest additions to their rosters; Easy Jay and Ajura. The records Head of Artist Management, Louiza Williams said: We are thrilled to…

Why I Escaped From Police – Senator Melaye
Politics
67 views
Politics
67 views

Why I Escaped From Police – Senator Melaye

PH - April 25, 2018

Senator Dino Melaye has said that he jumped down from a moving police vehicle, which resulted in his hospitalization on Tuesday to prevent being taken to Lokoja,…

WATCH: DJ Neptune talks on his Challenges and Success Story on EbonyLife TV’s “EL Now”
Entertainment
71 views
Entertainment
71 views

WATCH: DJ Neptune talks on his Challenges and Success Story on EbonyLife TV’s “EL Now”

PH - April 25, 2018

In the new episode of EbonyLife TV‘s EL NOW, the talented DJ Neptune discusses the trials and challenges that he has encountered on his journey to becoming…

Singer Korede Bello Bags Degree from Nigerian Institute of Journalism
Entertainment
77 views
Entertainment
77 views

Singer Korede Bello Bags Degree from Nigerian Institute of Journalism

PH - April 25, 2018

Mavins record act, Korede Bello is proof that if you set you mind to achieve a certain goal, nothing can hold you back. In a post on…

Drums Festival Generated Lots Of Income For The Government – Governor Amosun
Art, History and Culture
87 views
Art, History and Culture
87 views

Drums Festival Generated Lots Of Income For The Government – Governor Amosun

PH - April 25, 2018

The Governor of Ogun State, Ibikunle Amosun has stated that the just concluded Africa Drums Festival hosted by the state, generated a lot of income for both…

I Sat For UTME Six Times – 26-year-old First Class Graduate
Geeky & Smart
88 views
Geeky & Smart
88 views

I Sat For UTME Six Times – 26-year-old First Class Graduate

PH - April 25, 2018

A 26 year old first class graduate of the Department of Applied Chemistry, Usman Danfodiyo University, Sokoto, Simon Godwin Idoko, has opened up on how he was…

The Activities Lined Up For ‘AMFEST EXPO LAGOS 2018’ Unveiled!
Best of Nigeria
97 views
Best of Nigeria
97 views

The Activities Lined Up For ‘AMFEST EXPO LAGOS 2018’ Unveiled!

MT - April 24, 2018

AMFEST EXPO is laden with the responsibility of expanding Africa’s creativity economy into the global market. African practitioners in the area of music, fashion, film, food and…

Revealed: Here Are 6 Online Scams Everyone Need To Be Aware Of And How To Avoid Them
Best of Nigeria
107 views
Best of Nigeria
107 views

Revealed: Here Are 6 Online Scams Everyone Need To Be Aware Of And How To Avoid Them

MT - April 24, 2018

Here are 6 important scams you must watch out for when you are online so as not to fall victim to online fraudsters, according to this article…

2019 Election: Why I’m Not Desperate To Be Nigeria’s President – Atiku Speaks On BBC
Best of Nigeria
121 views
Best of Nigeria
121 views

2019 Election: Why I’m Not Desperate To Be Nigeria’s President – Atiku Speaks On BBC

MT - April 24, 2018

While speaking in an exclusive interview during BBC Hausa morning programme on Tuesday, former vice president, Atiku Abubakar, said he is not desperate to become Nigeria’s president,…

Anti-Malaria: What ‘Ogbono’ Soup Can Improve In Your Body and Health – Research Shows
Best of Nigeria
116 views
Best of Nigeria
116 views

Anti-Malaria: What ‘Ogbono’ Soup Can Improve In Your Body and Health – Research Shows

MT - April 24, 2018

A Pharmacist, Dr Chukwuma Agubata, has said that taking Irvingia Fat from nuts of Irvingia Gabonensis Var Excelsa, known as ‘Ogbono’ soup has helped to improve the…

LISTED: These 3 Habits Can Make You Poor Even If You Have A Reasonable Income
Best of Nigeria
127 views
Best of Nigeria
127 views

LISTED: These 3 Habits Can Make You Poor Even If You Have A Reasonable Income

MT - April 24, 2018

When it comes to money, everyone has a habit that either helps you save or lavish your money. But for those who have a reasonable income and…

Loading...