
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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Hello Ope…thanks for your writings…can you come talk to a group on WhatsApp?
I learnt a lot from this. I will put this points into practice soon…
Awesome! Thanks for reading.??
This is an apt reminder. Thank you
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It was nice write up I learnt alot okay
Great to hear!
Thanks for this. Teaching my kids abot money is a priority to me.
This write-up is good for the week. We meeeuv!!!!
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This message is a timely one for me, even though I’ve begun practising a few of the aforementioned tips.
It’s a great way to begin the week and it comes at the right time as end of the month approaches.
Thanks guys!
It’s always a delight to receive an email from my favorite financial adviser, Ope, because she always has something relevant, thought provoking and practical to say and offer about my (your) finances.
Truth be told my financial education and wellbeing has improved ever since I joined Cowrywise. Thanks to Ope with her gentle forcefulness. Lol. I am now more savings, budget and investment oriented. Only regret is why I didn’t come across Cowrywise sooner. Where have you been all my life??
I still have a long way to go to make up for lost time but, baby steps.
Uwésè (Thank you in Bini)
Baby steps can lead to much progress!??
Why are you so sure that Ope is female though??
You’re welcome GOC.?
Stale yeahh?
But, I can bet Ope is a female.
I relate so much to your talks. If I’m not learning something new, I’m realizing I’m not the only one who thinks this way ??
Good morning
Pls want logging into my Cowrywise
Is not going mam/sir
Pls help out
You can afford it doesn’t mean you should buy it, is it really necessary? Think!
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Spending a huge chunk of money on liabilities.
This is a major bad money habit too.
Thanks for sharing it, Ajayi.
Thank you. This is really helpful
Thank you, Ope.
10. Don’t compare yourself with other people.
People often spend money on what is not needed trying to please friends, family and colleagues. To cultivate a good saving habit you have to start living your life as a self-life, not public life. If you don’t have it now does mean you will never have it. Life na turn by turn, go through life at your own pace. Life is sweeter when don’t live to please anybody.
“Life is sweeter when don’t live to please anybody.”
This point on comparing one’s self is such a good point. Thanks for sharing it.
Please I didn’t not received my referred bonus payment to my stash while other people have received their own what is the problems please
This is copacetic.
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Great job
How do we hack black tax?
Hi Ifeoma.
This blog post on Black Tax might help – https://cowrywise.com/blog/black-tax/
Thanks for golden , professional advice. How can l go about Halal investment plan
Candidly, no 6 is on point. Spending errors are stringent but not in the real sense of it. One is guilty of that. I learnt from all 9 points. Kudos
This is so apt! Ope, you need to address how we can say NO (and not feel quilty) to family issues that are springing up. They are the cause of my savings depleting. *sobs*. Thank you for sharing this. Always love to read from you.
Hi Oyepeju.
Gloria shares how locking up her savings helps her say no without feeling guilty in this article – https://cowrywise.com/blog/chose-cowrywise/
This article on Black Tax might also help – https://cowrywise.com/blog/black-tax/
I hope both help!
Thanks for the education Ope.
You’re welcome, Marv Annie.
This is really the message for the now.
We need to imbibe the culture of savings and inculcate it into our children at a very tender age if possible include the culture into our value system even in our school curriculum.
Very timely piece.
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This is informative
I’ve learnt a lot. Thanks and keep it up.
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Insightful !
I needed to be reminded of this very important truth. Thanks alot
Thanks alot Ope, good one.
How can I see my deposit
Hi Henry.
You can see all your Savings/Investment or Stash funds when you log into your Cowrywise profile.
Which specific deposit are you referring to, please?
Timely words
Thanks ope
Thanks for this insight it is a good one and i know it will help me because I have struggle alot on how how to to gain financial freedom.
I appreciate this great information and financial education. It has given me insight into my financial plan. thanks.
This piece will be really helpful. Thank you for sharing Ope
Truth be told,i saw one of my bussiness partner using this app for saving money and I be like WTF am app is this, he then explain to me And I be like wow?then I started using the app, I won’t lie here, my financial life changed immediately for good,how can I thank cowrywise,
Thanks to the organizers?♀?♀
Yeah ope…..that investment part about buying point (ARM Or so)….ion understand….pls could you put me through
Thanks for the charge
This is very great, insightful and helpful.The lessons were very instructive and many salient points to note.Please is there a WhatsApp group cowry wise created or perhaps you did.I would love to join.Thanks so much.
Pls I really need hlpe
Wow, this so encouraging, I think I have to stick to it. Thanks
? rooting for you!
Hi Ope, I want to start emergency savings. What percentage of my income do I save . Been battling with this …
Hi Jesutofunmi.
There’s a guide that breaks it down for you. Here it is – https://cowrywise.com/blog/emergency-funds-savings-work/
Though there’s no one size fits all, it is advised you save up to six months of living expenses.
This is so that if anything ever happens, you’re covered for at least six months!
Thanks Alot Ope.
No 8 really got me.
This is awesome. . Thank you for this insight. I want to know more about the automatic save and invest. Is it that as I make payment in my cowrywise account , it’s automatically save and automatically invest. Please shed more light
I have never been tutored like this all my years. This is exactly my problem but now cowrywise is my deliverer.
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Thank you cowrywise. You are a true financial saviour
Learnt a lot from those, my bad habit is 2:- spending more than I earn.. The article is really nice.. Thank you Ope.
Thank you Ope, this is insightful I’m definitely going to start breaking this bad habits
Thanks for the piece!!!
In the case of a University student who is yet to start earning or probably earn but not so much.
What advice would you give to the person about Cowrywise and bad money habits
I have learnt a lot. Thank you Ope I’ll start saving better and setting more goals
Energyyyyyy ??
If I thought cowrywise will have a children’s school I could have get admission for them, because it teacher a lot of way out of poverty .I’m very comfortable with cowrywise,God will continue to leaft you up as you’re trying to leaft us up.
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Thank you cowrywise ?? For clearing bad habits
Anytime ??
Thank you ?? For clearing bad habits
I learnt a lot from this. Thank you?
I semt money into my account I have not seen it what’s the problem
Hello Daniel, I’m sorry about that. Please has this been rectified now? If not, please send us an email at support@cowrywise.com. Looking forward to help ?
Nice one ope. Kinda like cowrywise now. Pray it blossoms more. I’m actually a student. 100 level but I have big dreams ahead. No income though but I’m saving from my allowance. Don’t know and still thinking of the possible best income. I don’t wanna go into fraud. But I’ll make it someway. I believe. Thanks for the piece of advise
I’m rooting for you and all your (legal) money moves ???
10. Impulse Buying : Don’t buy anything you don’t plan for especially all those Pre order shoes , Bags , dresses we buy online, we might think it is ‘awoof’ but something you don’t plan for still doesn’t worth buying at all.let’s make plans and put a stop to impulse purchase.
Thank you Ope for all tips.
Financial intelligence, is the ability to control ones expenses. Do spend your money in asset than lability. For asset, are those things that puts money in our pocket and labilities are those that takes money out of our pocket. Thanks to you all.
All this are great write up thank you Ope!
I uses PiggyVest but I don’t know how to use the investment features of this Cowrywise app.
A guide will be so much appreciated by me?
I understand my mistake and I’m very thankful for reminding me!
@ope thank you very much for this piece. Just started using this app but kinda like it.
Just that i don’t know how to use the investment plan
Hmm! What an eye opener. Thanks
Sure!
How can I get loan to enjoy this business because me I don’t understand I can place orders app
I have just been tutored by you, I hope to be financially wiser henceforth.
Good advice
Great advice. Thanks for this. People also need to stop spending immediately an dime enters their pocket.
Great advice. Thanks for this. People also need to stop spending immediately an dime enters their pocket.
Wow, thank you for the advice.
Thanks doesn’t seem enough to express how I feel right now. Just know am deeply grateful. God bless you Ope. Am taking baby steps already!
What an eye opener…. More grace Open.
Wow!! I love this write up…I really learnt a lot from it
Thank you Ope for this wonderful reminder. I’m sure to put them into practice ASAP
I’ll recommend the book rich Dad poor dad by Robert kiyosaki. Most of the bad Money habits listed in the article above, was derived from this book. You will find more of bad money mistakes you should avoid in the book written by Robert.
Great
This is just a trick of wooing you to save your money with them. Saving money has never made anyone grow. The risk inherent in Saving is very low, therefore, you earn low return. Saving is not a good investment, channel your money into a productive venture where high returns can be earned.
Ask them for how much interest they will pay on your savings, I can bet it with anyone, it won’t be more than 10% per annum, however, if you are taking loan from, you’ll be deceived with single digit interest rate. E.g 3% flat, which is equivalent to almost 36% per annum. Arithmetically, they will make over 26% on your hard earned money you’re saving with them. My people, please be wise and shine your eyes. These people are just ripping you off. Use your money for productive business venture, you will earn higher returns from it. However, the risk is very high. As I said earlier, high risk begets high returns, while low risk ventures earn low returns.
Thanks for this
Thank you very much