Testimonials

Money Chronicles: I Set and Surpassed My One Million Naira Savings Goal on Cowrywise

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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, we feature Emmanuel who set and surpassed his goal of saving One Million Naira in a pandemic year! It’s the first month in 2021 so we hope this article inspires you to set specific financial goals. Who knows? You might get to surpass them too!

What is your name and what do you do?

My name is Emmanuel Olatunji, I’m a writer, publisher and CEO, TEBEBA Global Publishing Ltd, a fast-growing publishing firm in Africa with the aim of helping people achieve their writing and publishing goals.

How did you find out about Cowrywise?  

I found about this wonderful platform through my mentor, Mr. Anani Sunday. He is a finance expert. He discovered how effective this platform is and he told me about it.

Shout out to mentors who show the way! 👏🏽 What role has mentorship played in helping you master your finances?

It has played a significant role. Fortunately, my mentor is a finance expert. He understands a lot about money. So, through his tutelage and counsel, I was able to learn more about how to master my finances.

What advice will you give anyone trying to find a mentor, especially one that truly cares about their personal growth and finance management?

Be humble and be willing to learn. My mentor and I were first friends, but when I realised that he was experiencing progress in his life while mine was stuck, I approached him to be my mentor and he accepted. So, if you are seeking mentorship from anyone, you’ll need to be humble so you can learn from them. Also, don’t just approach the person to mentor you. First find a way to position yourself so that by the time you make your desire known, you won’t be rejected. I wasn’t rejected by my mentor because I had already created a bond with him even before I asked him to be my mentor.

So, Emmanuel, you hit and surpassed your goal of saving One Million Naira in a “lock-down” year!!! How did Cowrywise help you achieve this?

I did oh!!! Cowrywise sure helped me a great deal. The fact that I couldn’t withdraw my money until the mature date,  the notification from the App, and the ease to save my money, all of these made it possible for me. Thanks to Cowrywise.

Do you mind sharing how much you saved monthly?

Hmm…there was no specific amount. But I made sure that I was saved up to 50 percent of my income or sometimes more. It was a deliberate action. 

One stream of income or multiple?

I have multiple income streams. I write for organizations and individuals, publish books, coach and print books too.  All these services make me money and I was able to save up to 2million Naira. (Double my goal.)

Nice! 👏🏽 What major lesson did this experience teach you?

Honestly, it taught me that I can do even more. So this year, I plan to achieve more.

Any practical advice for someone trying to save their first million?

Be intentional about your savings (remember I said I saved up to half of my income). No matter the amount you make monthly, you can cultivate the habit of saving. That’s the very first step.

What is your best Cowrywise feature? 

Not being able to withdraw my money until the maturity date.

What’s the most absurd thing you’ve spent money on lately?

I can’t remember any. I’ve trained myself that if I will spend money on anything, it means that thing is necessary and important to me.

We love that you were able to save ₦1M, but are sure there have been low points in your personal finance journey. Please, share your biggest money mistakes with us and how you overcame them.

My biggest money mistake is refusing the save and pay my tithe because I think I don’t have enough. Until I changed that mindset, I was always broke. 

Any funny money habits you imbibed from your parents without realizing it?

Always having money in my wallet. I inherited that from my dad.

What’s the most thoughtful gift you’ve ever received and why did you value it so much?

A friend of mine bought my book on behalf of someone who couldn’t afford it. That was very thoughtful and I valued the gesture.

What’s that one thing you never mind spending a lot of money on and why?

My personal development. The reason is because I regard that as the greatest form of investment.

Yes! Personal Development is paramount. Any feedback for us at Cowrywise?

Keep up the good work and maybe you should help increase the annual percentage (😉😁).

Haha. We’ll see about that! 😂


Want to also set yourself up for success with your 2021 savings goals? A Cowrywise account will help make that process easy!

Want to save One Million Naira (or more) in 52 Weeks too? Join this 52 weeks savings challenge now! You can also choose from different Savings Challenges that suit your lifestyle.

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