Money Chronicles showcase the honest money experiences of everyday people who use Cowrywise. We share a story on the 17th of every month. This month’s feature shows how Ezekiel went from begging online to making a resolve to save for a business.
Most people are not taught to save money and invest in their formative years. It can therefore be hard to learn good money habits as an adult.
Cowrywise exists to present a low barrier to entry for anyone to start saving and investing. It doesn’t matter if you just started university, are about to round off your NYSC like Ezekiel, preparing for your next baby, or planning for a business that will be your main source of livelihood. This is the Cowrywise advantage–growing at your pace.
Every month, we will share stories on users who have leveraged Cowrywise to grow their money. Our hope is that these will inspire you to get on the right side of money.
Today, we have the story of Ezekiel; who used Cowrywise to save up to start his business .
Meet Ezekiel.
Hey superstar! Tell us a bit about yourself
I am Oroniyi Ezekiel. I schooled at Osun State Polytechnic and served in Yola in 2018 before relocating to Minna in 2019.
Please, share some context. Why ask for money online?
Last year, I got on Twitter and saw how people were giving out money. I wasn’t sure what prompted all of the “awoof”, but I decided to try if anyone will send me money too. This turned me into a digital beggar and I started begging from one handle to the next. I wasn’t doing it for the fun of it but actually wanted to buy a Direct Image machine and set up a computer business.
Interesting! So when did things change?
I kept retweeting with all my energy but never got anyone to give me money. It got so bad that someone on Twitter called me “Bambiala”. That word pained me so much, but it ended up being a form of reset for me. Coincidentally, in the same period, I discovered Cowrywise.
What prompted you to start saving on Cowrywise?
The next day after I was called “Bambiala”, a lady replied a tweet and thanked Cowrywise for helping her with her money habits. Her handle is @The_Ebira_girl.
@cowrywise App that has been saving me from day one. I love them
— The_Lagos_Ebira_Girl (@The_Ebira_Girl) October 25, 2019
That interested me so I asked her how your platform works and immediately joined your telegram group. I made more enquiries and decided to save for my business (at least ₦5000 ) weekly.
Ayeee! We love people that take action but sticking to a plan can be hard. How were you able to stick to your goal?
It was not easy because I didn’t particularly have a stable income but I did it! The fact that Cowrywise also has strict savings plans helped me stay disciplined. I wasn’t able to break my plan till its maturity date. That way, I was compelled to stick to it and I am proud of that accomplishment. I have saved enough to set up the first phase of my business–a printing press.
I have realized that a kobo can become a thousand and a thousand can turn to a million with a savings plan.
So good! Why did you choose to save for a printing press business?
I worked as a teacher when I stumbled on a printer who made report cards. He looked like he would always have customers because people needed to print around us. I negotiated a part-time internship and he agreed. It was from my little side printing jobs I got money to save each week.
We know this isn’t the end so what’s next for you?
I am going to set up a mini-power plant with my next savings. I have realized that a kobo can become a thousand and a thousand can turn to a million with a savings plan. Thank you, Cowrywise!
Awoof – freebies
Bambiala – beggar
You too can become our star saver in a few months. All it takes is your decision backed up with action and Cowrywise is here to help you stay on track to meet your goals.
If you also have future responsibilities that you will like to save towards, a Cowrywise account will help make that process easy! Also, you get to choose investment plans that suit your lifestyle. Get your money working today.
Got a story to share? Send us a DM here.
I really want to control my finances. I envisage that I have a great tendency of making money and mismanaging funds. Most times I run out of money before the month ends and I feel terrible about it.
Hi Sonia.
Thanks for your vulnerability.
We provide a lot of financial education guides on our blog that can help you better control your finances.
Take it step by step and you’ll do better in now time!
What about school fees, health , charity and insurance.
school fees, insurance, and health can be placed in that friend’s wedding column as talked about in the article, t its all about understanding the main idea, looking within yourself where does this item fall, it’s about been creative and manageable with your money, i.e how long money stays in our hand using it effectively.
thanks a lot,Ope.really helpful,sometimes we outline the fixed and forget the discretionary ,and wonder how alll the money disappeared .This is very insightful
I look forward to more articles from you guys, random articles on various life topics. I love the active voice you used in writing and that sacarsm part too?
Thank you! We look forward to having you back here too ?
This is really amazing and educating! Keep it up and thank you so much for THIS ARTICLE ?
Our pleasure ?
Hello Ope,
This piece is quite insightful and helpful. Thank you. I Read the part where you advised to not document budget on a book as one can lose the book. Can you recommend an app on playstore one can use?
Yes. I’m seconding this comment. I believe an accounting application can help. I actually document my expenses daily but combining them into a general heading is a big task.
Please help us, Ope.
Hi Glow, I can’t recommend any tool off the top of my head right now, but creating a simple Google sheet or excel file for your budgeting can work.
I have a challenge, am the one catering for the house so most times I run into debts because expenses are higher than income . please how do I work on this.
thanks
Okay, Ope, you got me on with this one! ?
I know I make a lot of money as a full-stack digital marketer, but after some time, I’m broke and I’m wondering how come? As you said, I’m wondering “where did all the money go to?”
Sha, this post is very helpful and I’ve just downloaded this app I want to make use of in listing out the entire process… but quick ??
Which app or tool would you recommend for proper budgeting and evaluation?
Regards,
Sam
Hey Sam, happy to hear you found this helpful! ?
For the tool to help with budgeting, I highly recommend that you get down to do the “dirty work” first by yourself. Create a sheet on Google Sheets or Excel to input and track your spending to give you a raw idea, and then you can use other tools for lighter budgeting work based on the idea you now have from your sheet.
Hi Glow
You can download money manager on playstore, that’s what I use. There are others there too
I spend close to 38,000 only
Hi Sam,
I found it fascinating when I had to keep track of my sister’s account, but tracking my own expenses or developing a personal budget appears to be an impossible feat.
I mean… I don’t have a stable source of income yet so it seems almost hard to do but then after going through your write up I wrote a few ways in which I get money and am hoping I’d be able to get an hang of it soon.
Thanks for the detailed explanation.
Ope rather not Sam, sorry.
Wow! This is great, learnt a lot
Thank you so much for sharing this, Ope.
I have a question though. How can I budget as a student?
Because it seems like I can’t apply the whole concept of budgeting in my life at the moment.
I mean, I am a student, I don’t have a fixed source of income; I receive allowance from my parent and sometimes from relatives. I also do not work and I have no investments.
Sometimes, I feel like financial plans and budgeting is just not for me, even though I’m quite interested in them.
Like when I even receive my allowance, the rate at which the money finishes fast, makes me ask myself, “How?” “Where did all the money go to?” and “What did I spend the money on?”
I want to know how to track my expenses, save effectively and if possible invest and then build a financial plan, even as a student but I don’t know how to go about it neither do I know what to do.
So, if there’s any advice you could give me, please do. I’m very ready to learn.
Also, thank you so much for your financial lessons. I am always happy when I see your blog updates in my email. Thank you!?
This is very insightful and educative. I will make a do with this tips immediately. Thanks immensely Ope.
This is helpful I learnt a lot as a young graduate budget helps in build Future occurrences coming in the future also helps to pridict a lot of plan that u ought to achieve
Thanks Ope for this rich enlightenment.
But I got to ask you a question.
What if you don’t get an income per say but, a kind of allowance that’s not stable that you’ll have to ask before its been given to you. How then do you plan a budget given such instance?
Thanks for this wonderful post of yours.It is more encouraging.
Dear Ope,
Thanks for this insightful write up. I am definitely practicing this starting now. This is just what I needed to hear at this time. Thanks again
Really amazing thanks alot for this
I need withdraw
Thank for this wonderful post of yours. It is more encourage
I need withdraw
This article came in on time. Am guilty of many of the bad money management stated in the article. Not withstanding, it is not too late to start. I will be better equipped for the remaining part of the year and next year as well. Thanks Ope
Alisabiu744@gmail.com
This article came in on time. Am guilty of many of the bad money management stated in the article. Not withstanding, it is not too late to start. I will be better equipped for the remaining part of the year and next year as well. Thanks Ope
Ope thanks for this powerful awareness, pls if the is an app I can use for something like this let me know. I should start taking records this month
Mohammed
How can I do this
Thanks very much Ope. I always enjoy your post they are enlightening.Talking about budgeting how can one who’s money doesn’t come in bulk monthly go about making and achieving his or her budget.
I can control my financial status on my own. Because I really feel to be financially independent, on the basis of personal interest, and growth. Thank you so much.
Hi Ope,
Thanks for the blog,
I am currently working and I don’t earn enough. Also, I have to settle bills at home and help the family.
I find it hard to save, any advice on this?
Thanks for this piece, I really needed it to start my next month.✨
Thank you so much Ope. We shall do this
Cowrywise has really helped me to everyone more and spend less
I wish it will not crash
Thanks so much. This is an eye opener. I always wondered why I’m left with nothing at the end of the week/month/year after making so much money. Please, do cowrywise have a budgeting app that could be helpful.? It’s important