Money Chronicles showcases the honest money experiences of everyday people who use Cowrywise. We share a story on the 17th of every month. Michael speaks with us today, he shares why he’s become such a huge advocate of Cowrywise and how he used the platform to hit and surpass his savings goal for a new gadget. Read this to find out how you can also use Cowrywise to meet your goals.
Hi hi! Great to have you here. What’s your name and what do you do?
Online? Oríadé. But in real life, my name is Michael Inioluwa Oladele. I’m a creative writer and content creator. I currently work for a leadership consulting firm in Lagos, Nigeria.
Tell us what came to mind the very first time you heard about Cowrywise?
Money! ? That’s the honest truth.
What prompted you to begin using the app?
I heard about Cowrywise in 2018. Before then, I had just lost my money to wicked fellows who claimed to be investing my money in Forex. So after then, I wanted to start saving up for myself. And boom! Cowrywise came to the rescue.
What has changed with your finances since you’ve been on Cowrywise?
I’ve become more conscious of how I spend my money and also about saving. Now, I never feel comfortable just spending anyhow knowing that my Cowrywise account is there and Ope will be looking at me. ?
One time, we opened Twitter and saw that you had done a whole thread about blog posts you had read on our blog. Thank you for that! What did you learn from the posts?
You’re welcome. I’m so glad I read those blog posts. I learnt a lot. Let me share three of my favourite lessons:
- Saving isn’t just about stashing money. I can also save by spending less.
- Don’t borrow money to do “I better pass my neighbour.” No forming. Live within your means.
- Don’t run away from the money convo with babe/LOML (Love of my life). Learning this currently ?
What’s your favourite money book? The one you think everyone should read.
I don’t read a lot of non-fiction books but one money book l think everyone should read is “The Richest Man In Babylon“. I started reading this book this year and I’ve learnt a lot so far. Here are three tips to convince you:
- To change a narrative, sell a greater narrative.
- Money flows. It flows to the rich or to those who know how to get it.
- It is in your power to control your expenses. Your expenditure will always increase. Summary: your life is in your hands. Stop the blame game.
Have you met or surpassed any financial goals since using Cowrywise? Tell us about it (of course, the details you’re comfortable sharing.)
I was waiting for this. ? Yes, yes, I have.
Last year, I opened a Cowrywise savings plan and my target was 200k. I wanted to buy a new phone. So I started saving up for it in May 2020. 10k here, 20k there. And then by August 2021, 200k was complete, 232k actually. So I waited for Ope to open my vault for me, cashed out and bought the phone which I am using to type this. ?
Awesome! People who’ve been looking to purchase a new gadget need to read this.
What is your best Cowrywise feature and why?
Stash. Because I can use it to fund my savings and also receive funds from loved ones who also use Cowrywise.
What would you say to someone who’s stalling to begin using Cowrywise?
Start small. Don’t rush. You don’t have to save 100k at first. You can start with N1000. Then N2000. And from there you can move up. Thing is, whether you like it or not, you’re going to save. The earlier you start the better so just start now. And start with Cowrywise.
What’s the top lesson the pandemic taught you about money?
How much you’re going to make is actually in your hands. I was home throughout the pandemic and I set monthly goals of how much I wanted to make and surprisingly, I surpassed them all. I didn’t know I could do it. But then I learnt that however hard things are, ambition and desire can bring crazy results. The pandemic, my own income plans and the increased income of various wealthy people and companies taught me that.
What major money lesson will you have wanted to learn 10 years ago?
Never spend all you make. Spend less than you make, wayyyy less.
Payments with cash or card? Why?
Cash. I want to hold my money and feel it.
All expense paid travel to your top destination or give you the money?
The village boy in me wants to collect the money and buy suya but an all expense paid travel to Salzburg? Sign me up!?
What’s that one thing you never mind spending a lot of money on and why?
Books. Knowledge is never too expensive.
You’re legit one of our biggest ambassadors and we really appreciate you. Why do you think so highly of us?
Awwwwnn…I am blushing here, for real.
Why do I think so highly? Well, you guys are actually filling a gap. People need to save. They need to invest. They need to be financially wise. Whether they know it or not, they need you. They need Cowrywise. They need Ope. And you guys are filling that gap. Thank you. So when are we making this ambassadorship official? I mean, Ope is not even following me yet. ?
Ahh. I’ll rectify that! ? Any suggestions for the Cowrywise team?
- Bring me in as your ambassador. ?
- Let’s find ways to reach out to older people. I know it’s not easy but if we are making things easier for the youths, the older generation need it even more.
- Keep doing good!
Thank you so much, Michael! We’ll be in touch.
Thank you too!
Are you planning to get a new gadget or have a different personal savings goal? Cowrywise helps make that easy for you. Get started here.
RELATED
Money Chronicles: We met in SS3. Now we’re using Money Duo to save for our wedding
Money Chronicles: I used Cowrywise to save toward my Wedding
