Money Chronicles: From 5k to 600k – How Teejay Saved for her Apartment in Lagos

4 Mins read

Money Chronicles showcases the honest money experiences of everyday people who use Cowrywise. Today, I spoke with Teejay Oghenefejiro, a writer in Lagos who used Cowrywise to save for her rent. We talk about what it’s like saving for rent in a city like Lagos, why she decided to update her Twitter followers every time she saved and what her savings goal is. Let’s get into it! ⬇️

Hi 👋 Can you tell me your name and a little bit about yourself?

Hi, I’m Teejay and I love to write. I use words to create meaningful experiences that help users and businesses achieve their set goals. I’m also a football baby and you can find me on Twitter loving Chelsea, defending Thomas Tuchel, and dragging United and Arsenal. 😂

Oh wow…Chelsea… I heard you guys aren’t doing so well this season though. 🌚

We have an egomaniac as an owner and a stubborn coach.

Lol…tell me how you found out about Cowrywise.

My friend Tammy introduced me to Cowrywise. Back while I was a student at University of Port Harcourt, I was always hunting for opportunities and Tammy asked me to apply to be a Cowrywise campus ambassador. It was a long shot for me so I didn’t continue with the application but I continued with Cowrywise and here I am plenty thousands richer 😁

Amazing! How has your time at Cowrywise been so far?

It has really been amazing. 🤩 I love being able to lock my savings (I had to learn financial discipline by force). I absolutely love Ope from Cowrywise and I love that at the time I was able to save with my friends. My love for Cowrywise will be a 10/10 when I’m finally able to use the Money Duo feature. Till then let us be doing singleton with safelock.

Oops…love is on the way, don’t worry. You can begin using Duo with a friend for now…planning for the future. 🌚

But saving with your man>>>>>>>

Tell me about your tweet that blew up

I’d say it blew up because I carried my followers along. I made my first tweet on 9th April talking about creating a savings plan for my rent and I started saving with only ₦5000. Every time I saved a bit more, I updated my tweet bringing my friends and followers along. When I finally hit the goal, people were applauding my tenacity because they had seen me move through the journey from ₦5000 to ₦600,000.

Inspiring story. Why did you decide to carry your followers along? You could have chosen to save privately.

For accountability. I figured that if I did it on my own I could easily relapse like I had always done. But I made the first tweet and I needed to prove a point to myself that I’m capable of achieving a set goal. And what other motivation do you need other than over 1000 people cheering you? I needed that and I got it 😁

That’s one of the major reasons we created Cowrywise circles; to help people save with the right motivation and boost from their friends and colleagues.

It was hardddddddd. I had to do a lot of delayed gratification, cry a lot of tears, hawk my services on the timeline, and do a lot of work. I had to wear the cloak of discipline. Imagine seeing this beautiful wig you want to buy but can’t because you need to save. This period also helped me develop a new routine. I get money, remove my tithe, remove my savings, and spend the rest. And I didn’t follow any formula. I just saved as much as I could.

Some of my friends think I’m too strict but I think I owe it to my banking and finance background .😅 I know my best friend and a colleague had to start saving because of my pressure.

Sometimes it’s best to just save aggressively, especially when there’s a goal in mind. How did you feel when you finally achieved your goal?

The first thing I did was cry. I was overwhelmed with so much awe looking at my balance on  28th September. When I started saving, my monthly salary was ₦80,000 and I didn’t think I could achieve the ₦600,000 by my set maturity date. So I was really overwhelmed when I did achieve it. And considering that it was the first time I’ll be having such an amount of money to my name was really cool 😎

We’re happy for you! 😃Moving on, what do you love most about Cowrywise?

The fact that not even my ancestors will make me access my money if it’s not maturity day yet.

Generally, what do you think is the major reason why some Nigerians do not save and invest?

Most Nigerians think “You need to have a lot of money to save.” In the words of my friend, “I have not saved myself, it’s money I will now save?” And for investment, we are a people with an eye for big things which is why we love Ponzi schemes. A lot of people think the returns from investments are too small and they’d rather take the risk of putting it in MMM than invest. That’s our problem.

That’s true. Ponzi schemes have actually wrecked many people’s perspective of investments, it’s sad.

What’s that one thing that you never mind spending on and why?


I won’t say I’m a foodie but cooking stresses me. I like that I can easily get something from a restaurant. When I become a BALLER-nle I’m sure it will be shoes. I love shoes so much!

Okay foodie! 😂 What’s the next big saving target now?

My laptop. It should be my International Women’s Day gift to myself.

Great! As always, we’re rooting for you! Do you have any word for the Cowrywise team?

You guys are amazing and I hope you don’t stop. 🤗 From Ope’s letters to the push notifications, the money blogs, and the user experience everything gives what it should give. Maybe one day I’ll be part of the team too.

Well, never say never, Teejay! 😉 Thank you for talking with us.

Thanks for having me.

Love Teejay’s story? Start saving and investing on Cowrywise today
Start here. 💙

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