MoneyStory: He Got Chased Out of School Over Fees. Now He Earns ₦312k a Month and Saves 30%

What’s your earliest memory of money, and when did it start feeling serious to you?

My earliest memory of money is actually positive, Christmas. Extended family would give cash as gifts, and at that time, it just felt like something to enjoy. But the first time money became serious was when I got chased out of school because of unpaid fees. Looking back, the school wasn’t wrong, they needed their money, but at that age, it felt very unfair. That moment changed something in me. Money stopped being something casual and became something I felt I had to secure at all costs.

How did that experience shape your mindset growing up?

It made me tie money to how I was seen. I thought if you didn’t have money, you didn’t have value. So for a long time, I wasn’t just trying to make money, I was trying to prove something, to myself and to others.

But you said that mindset eventually changed. What caused that shift?

Exposure. I got into a different circle where money wasn’t the first thing used to measure your worth. That changed everything for me because I started to see that there are other things that define you. Money is important, but it’s not everything.

How did you start earning your own money?

My first job was as a fuel station attendant. It wasn’t anything glamorous, but it was my first experience earning for myself. From there, I moved into other things, and eventually into what I do now.

You mentioned debt earlier. What actually happened?

Last year, I was in about ₦600k debt, and at the same time, my stocks got wiped out. So it wasn’t just that I owed money, I had also lost money I thought I was building. It was a combination of bad decisions, not enough research, and trying to move too fast financially.

What did that period feel like for you?

It was uncomfortable. Because at that point, you can’t pretend everything is fine. You’re thinking about money constantly, what you owe, how to fix it, what went wrong. It forces you to face reality.

How did you get out of it?

I focused on work and cut off a lot of normal pleasures. No unnecessary spending, no distractions, just work. It wasn’t enjoyable, but it was necessary. I stayed consistent until I cleared everything.

What did that experience teach you?

A lot. First, never use loan apps. And second, always do proper research before making financial decisions. A lot of things look attractive on the surface, but if you don’t understand them, you’ll pay for it.

Have you had any financial wins that changed how you see money?

Yes. I once got paid ₦350k for a writing job. At that time, it felt like a big win. Not just because of the money, but because it showed me that I could earn at a higher level. After that, I changed how I priced myself, how I saved, and how I approached opportunities.

How do you handle saving and investing now?

I save about 30% of my income, and I’m more careful with investments now. Before, I was more aggressive, but now I’m more guarded. I take my time, research properly, and don’t rush decisions.

Do you follow any structure when it comes to managing money?

Yes. I use Excel to track things. It helps me stay organized and see exactly where my money is going.

What does your spending typically look like?

Mostly essentials. Transportation takes the biggest chunk, then feeding, and about 10% goes to data. I try not to spend carelessly anymore because I’ve already seen where that can lead.

Have you ever felt ashamed because of money?

When I was younger, yes. But not anymore. Now I understand that money is something you manage, not something that defines you.

If you had ₦1,000,000 today, what would you do?

Honestly, nothing impulsive. I’d probably just buy stocks I’ve been watching.

How would you describe your financial life right now?

-10. I live in Nigeria.