I remember being about 5 or 6. An uncle had come to visit, and it was one of those visits that ended in “take this and buy Fanta.” If you don’t have a clue what that means, it’s is the part of any adult’s visit you hoped for as a child. You endured coming down to greet a total stranger and the feigned surprise that you don’t remember them when they JUST said the last time they saw you was mere moments after your birth. You diligently brought out snacks and drinks and played quietly in another room so they can remark to your parents how well behaved you are. Now if it’s never happened before, your singular emotion at the end of that visit is anxious anticipation to bid this guest adieu so you can carry on being the hoodlum you truly are; however, once the crisp Naira notes emerge, it suddenly seems like it’s all been worth it! Your OWN money! They’ll say something incredulous like “use this to buy Fanta” or “use this to buy sweets” but you know the amount you have just been handed is WAY too much for such petty purchases. Granted, in hindsight, 100 Naira isn’t mad money but when you’re 5 and that 100 Naira has been handed to you as ten mint 10 Naira notes, you - are - BALLIN!
I couldn’t tell you what I did with that first money gift. I think my mum may have taken it or maybe I splurged on Goody Goody and Robo at the local tuck shop. Either way, as quickly as those notes hit my grubby little five-year-old fingers, they were gone! Now there have been many money milestones in my life since then: selling handmade jewelry at the school fair and making my first loss, selling baked goods to my mum’s colleagues and turning my first profit, starting to get an allowance from my parents, and learning the value of budgeting, and earning my first paycheck and realizing that the satisfaction you get from a paycheck only lasts as long as the time between the deposit and paying the first bill.
Through these experiences, I have learned a few things about money:
You are not as disciplined as you’d like to believe. The more systems you can create around your money, the better for you. For me, this looks like automating deposits to savings accounts or setting reminders to cancel “free trials”
It’s a lot harder to scale back, so don’t live a luxury lifestyle on a noodle budget. When I tell you that I could drain my account on Ubers in the winter and not even feel bad about it…chileeee. But when you taste the joy and comfort of door-to-door service, it’s reeeally hard to make a case for the Dufferin bus where I’m being held upright by other bodies and a prayer.
Don’t be afraid to talk about money. It might not be the first topic of conversation with your new coworkers or on a first date but definitely talk about it. We create so many illusions around money - likely because of experiences we’ve had or have heard of - but you have plenty to gain from a little more transparency. Conversations on money have helped me negotiate salaries, scale back on spending for certain items and overall be a more considerate friend. 10 out of 10 would recommend!
Now I know I still have plenty to learn when it comes to diversifying my income and making my money work for me. That’s where YOU come in, let me know some of your money lessons in the comments below!