Five Money Tips Just For You
4 min readAug 3, 2022

There are various elements that distinguish the rich from the poor, whether you recognise it or not. Opportunity, information, discipline, and habits are examples of these. We all want more money, and how we handle each of these criteria has a significant impact on our financial success.

You’ve probably heard a lot of money advice throughout your lifetime. However, there are certainly some game-changing ideas you have yet to implement. Today, we are sharing five tips that will take your finances to the next level. — Keep reading!

Tip 1: Set a Target Savings Rate, Not a Target Savings Amount

Saving is one of the most certain ways to always have money. Most of us are aware of this by now, but in order to achieve financial independence, you will need to gain a greater grasp of various saving patterns. To watch your finances develop through savings, choose a target savings rate rather than a target savings quantity. This is why. Assuming you earn N350,000 per month and set a monthly savings goal of N100,000, you will have N1,200,000 saved at the end of a year.

This is awesome, but your expenses will rise as your earnings rise. You could decide to change your car, or even buy a house. Do you believe it is still prudent to save a constant sum of N100,000 each month as your earnings and expenses rise? It is far better to set a target savings rate rather than a specific sum. This means that instead of saving a set amount of money each month, you should set aside a set percentage of your salary for savings.

TIP 2: Automate All Savings and Bills

You probably have so many plans for your money, some of which are far less significant than others. It’s simple to create a savings strategy, but it’s much more difficult to stick to it. The desire to spend your money on things that were not originally planned for might be very strong. How to curb it? Automating your finances is the way to go.

Saving automatically makes it much easier to keep track of your expenses. When you automate a portion of your money, you save time dividing it into other accounts and avoid the temptation to spend it on something else.

Tip 3: Create a Future Expenditure Plan

Your requirements will alter over time. You may be considering relocating, upgrading your vehicle, or even getting married. These are just a few instances of future expenses, but merely “hoping” to pay for them when the time comes is insufficient. You must develop and stick to a strong plan ahead of time.

The first step in developing a future spending plan is to make a list of the items you expect to pay for in the near future. It might be a house, a car, college tuition, or household appliances, among other things. After you’ve listed these, the next step is to figure out how much each of them will cost you. Knowing this will assist you in developing an appropriate plan for these impending expenses.

Of course, saving for a future expense is the best method to prepare for it. Set aside a percentage of your wages for future aspirations, and stick to it. Remember that your estimated expenses and savings objectives must be attainable. You cannot earn N150,000 per month and expect to buy a N4,000,000 mansion in the next two years.

Tip 4: Increase Your Annual Expenses by Half of Your Annual Raise Amount

I think it odd that most people who get a wage raise never see the difference in their bank account. — Wondering why? It’s simple: when most people get a raise, they increase their daily spending, primarily on items that improve their standard of life. This is known as “lifestyle inflation.” Things that used to look like luxuries to you are now regarded as necessities as a result of a pay increase.

When you start making more money, the urge to go up your standard of living will arise. I mean nothing wrong with a few treats for all your hard work, but there’s a smarter way to do it: increase your annual expenses by half of your annual raise amount.

This is what I mean. Assume you earn N200,000 per month and receive a N100,000 raise, increasing your annual salary. This implies you’ll have more money to spend, right? Both yes and no! Rather than spending the entire N100,000, it would be better to increase your annual costs by half and save and invest the other half.

Tip 5: Invest

No matter how much you earn with factors like inflation, your money will never “be enough”. Investing is a good way to put your money to work and perhaps grow your wealth. Smart investing may enable your money to outperform inflation and grow in value.

By investing, you tend to make money on your money. You might not have a hundred million Naira to invest, but that doesn’t mean your money can’t share in the same opportunities available to others.

For investment to be truly profitable, it must be done with the right partners. At, we want to help you make that choice. Here are some reasons why you should invest with and how to get started.

You can start your investment Journey on Here’s how:

  1. Go to and create an account
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