
We should all strive toward being financially responsible. We have identified four key factors that make financial responsibility easy to achieve.
Learn to Earn
The key driver of being financially responsible is the capacity to earn. You cannot manage what you don’t have. Hence, it is very important that you build a channel to generate income. You need to harness your skills so you can have an earning chance.
If you struggle to earn enough, you need to look for ways to improve either by asking for a raise, learning new skills, putting in additional hours of work, taking on another job or starting your own business.
Learn to Budget
The next stage after earning is spending! You need a plan on how to spend your earnings. The ultimate answer to managing how much you spend is budgeting. You need to set up your budget for what you need and also your goals.
Needs are the essentials for your day-to-day life which include housing, clothing and food. Goals are medium to long-term financial targets you dream of. They include retirement, owning a home, vacations and education.
You can make a spreadsheet that can help you start budgeting. Once, you follow your budget religiously, you are on your way to being financially responsible.
Learn to Save
Saving money is the biggest of all the components of being financially responsible because it is the bedrock to good financial management. Having a good saving culture won’t only serve as a tool for reaching your financial goals but also as a good arsenal in case of an unforeseen expense or emergencies.
Your savings determine how fast you can build your wealth. It is also what determines your access to investment. Hence, it is important that everyone imbibes a healthy saving habit on their journey to financial freedom.

If you find you don’t have enough leftover at the end of each month to save, take a second look at your budget making sure you include savings as a line item under the necessities. It should be built into your monthly spending plan.
One great savings strategy is to attach a dream or goal to different savings accounts. Sites like Cowrywise allow you that kind of customization and tools to go public with your savings goals while you enjoy good returns.
Learn to Invest
The importance of investing wisely in building wealth cannot be overemphasized. Sound, smart investments serve as a tool to grow the money you earn in ways that outpace inflation and put you on track for retirement much earlier. Always try to read up on investing wisely on blogs and tabloids like Investopedia and Bloomberg, and make sure you ask questions about what you don’t understand.
Don’t make investment decisions because every other person is making them. Take your time, study every investment, ask professionals for help if confused because it only takes a slight investment decision to make or mar your financial journey.
Cowrywise offers seamless savings and investment tools; we would love to help you take your big investment step. Get started here and set up a plan that suits your financial capabilities. You are on your way to financial responsibility.
You can also contact us to get professional counsel, we would be more than glad to help.
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I enjoyed every bit of this article. Will return for a second reading.
Whoosh!
Thank you, Edima.
Just bookmark it in your browser for easy access.?
Mobolaji no words just thank you for this beautiful piece!
The push I needed..thank you
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This was worth every minute. A real eye opener. Thank you Cowrywise!
Thanks for reading, Patience!
Thank you.
Sure doing my best to invest and save.
Wow…..I really appreciate your effort on this beautiful savings
☺️
I really enjoy reading your post. Please can you elaborate more on the design thing I do not understand it and if I want to invest for my wife or daughter, how do I go about it thank you.
Hi Oyebanji, it’s easy to invest for your wife and daughter. You can begin investment plans on their behalf with your account or use your referral code to get them to sign up. After they sign up, they can both start investment plans on the platform.
We’ll send you a comprehensive mail shortly.
Please read all about the Design Fund for women here: https://cowrywise.com/blog/investing-in-women/
Applications close on the 25th of March, 2021.
I loved every part of it. I loved how your vulnerability gave you the strength to be financially secured. Thank you so much! I took few notes I will work on.
Awesome! ??
Long but worth the read. I will spend my money better now. I will save and I have just been pushed to invest more than I ever have. Thanks for this piece.
Thanks for reading, Rhoda!
Please can you write every article on the INTERNET!!! This was so relatable yet so informative I felt like I was talking to a friend !!!! I love you already !!!
? Thank you so much, Obianuju.
Insightful!!! I enjoyed how you “gisted” the knowledge.
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Nice article.
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Just what i needed, thank you!
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Beautiful write up.
The “do not eat tomorrows yam” hit the hail harder.
Thank you cowrywise for the many beautiful contents.
Thanks for reading as well, Victoria.
Thank you so much for sharing. I especially love how you delineated the plan to create the plan. Thank you really. This has been so helpful especially at this crossroads I find myself.
So glad it helped.
Wonderful I enjoyed the article
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This is archive worthy. Something you screengrab and then go back to everytime you loose guard
Whoosh! ?
Thank you, Amal.
I tell you
This was lengthy but encompassing, thanks for writing
Thanks for reading, Faith…
Factory setting occurred in my brain. Thank you sir.
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Wow!!! Love this Piece. Truely from a reset brain.
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This is an amazing write up and yeah, an eye opener. And I love the fact that it’s so relatable with the small small vernaculars, lol, e long but e sweet.
“e sweet”!
Haha. Thanks Folajimi
This is proper financial advice. You have mapped out s lot of strategies that will benefit me financially if properly applied as a young professional. Thank you for the sound advice, Mobolaji.
Awesome content! Great push! Thank you very much ma’am ❤️❤️❤️
Nice piece. Really inspiring to me even as a man.
What a nice article .???. You did a great job ma
I want to give you loads of hugs. Your post today couldn’t have come at a more better time. This post reminded me of Andy Mineo’s quote on Vulnerability…It draws people in closer to say ‘me too’. This was certainly the energy booster I needed after running numbers today.
I really enjoyed reading this. I’ll share with the teen girls I mentor. Thank you so much.
Such an insightful piece! You’re a good writer Mobolaji!
Thanks for sharing.
Thank you Mobolaji. Thank you very much.
Thank you for providing the materials needed to build a good financial culture.
Insightful and relatable!
You rock!!!!!!!!!!
Deep stuff, useful to both men and women alike!
Thank you for sharing!
I feel like saving this write up somewhere to be reading every month…If I hear say na for women alone…Thank you so much for sharing.
Thank you very much for this,
It is very relatable,
Every woman ought to be financially stable to avoid stories that touch,
Thank you once more.
I’m really touched by this guidelines and I see myself becoming greater from this piece ❤️
I enjoyed this article. Every line and wors spoke to me. Thank you so much, i really find this inspiring
I really enjoyed this article , thanks so much
Thank you so much for this❤️
I look forward to implementing what I learnt and reading more of your articles
This Uplifting article is just what I need as a Student who’s trying to be money-wise. Thanks, I’ll be sharing this.
This is really so insightful. Thanks so much, Mobolaji. I’ve got a new perspective
Thank you so much For the piece. May God help me to invest.
Thank you for this piece, I have taken a different path now to wealth creation, but do you or cowryrise offer mentoring programs?