
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.
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Does Cowrywise have 2FA on its app?
Yes Deji. https://cowrywise.com/blog/two-factor-authentication/
This is an amazing article, Cowrysiwe. Kudos to everyone who worked on it.
Really nice article, keep it up Cowrywise and thanks for the awareness.
Thanks for these eyes openers.
Guys you are the best always
But,you should have resolved Funmi’s complain before she made it public.so,was the court order gotten?If it took forever for a funmi to get her funds back, what happens to people without clout?
Let me explain. While Obama was at a rally, someone from the crowd shouted at him about how immigrants were been deported. The issue was that these were illegal immigrants who were working honestly but contributing to America’s workforce, and hence it’s development… But it was tough, they are still illegal immigrants, right? So Obama replied: We [America] are a country of immigrants, yet we are a country of law. How do these two things cohabitate? The answer is: reasonable compromise.
It might be hard to explain to you that it wasn’t the clout that made her get her money, it was months of hard work in tracing the suspected thieves and following the law. The funds were transferred in a normal way any funds will, and the best thing was to work with Funmi to get the money back… By following the law. Unfortunately it took more time than Funmi’s patience, but eventually.
As a Software Engineer myself, one requirement is to always think and be ahead of the intruders… But you’d be surprised that as much as we try to make things for consumers that make their lives easier, there are people somewhere who’s purpose is to destroy that work. It’s tough but possible. We can stop them, or at worse, recover our stolen funds or losses… Even Twitter and other famous website gets gamed or hacked. Is this a justification for Funmi’s case, no. It’s just a point to help you understand, these things are tough. And we all have a role to play.
But we’d hold your hands all through. Trust us.
Impactful and mind opening
Funmi made our cowrywise even stronger?
Thanks for the eye opener. Does cowrywise have 2FA.
Yes we do now, Ifeoma https://cowrywise.com/blog/two-factor-authentication/
Nice one
My account was flagged because of a transaction I made and my 2000 is hanging. How do I get it back????
Thanks for your patience. A flag is initiated when we suspect a transaction, and it is designed to keep you safe. Have you filled out the verification form we sent, please?
My account was flagged I don’t know why and my 90000 is hanging. How do I get it back????
My account is flagged ?and I send a send to be open back I fill the forms and everything? It a week now till eating ,I need the money for business pls u guys should help me ,I can’t even send massage for help ,it only show before massage and she is not reply am getting scared already
This is enlightening. Cowrywise, thanks to your team.
Thanks cowry wise. For a more detailed information on this issue. Thank you.
Insightful and Enlightening. Thanks
Why do I need to my bvn to cowrywise, I don’t feel that is necessary since have already linked my atm card
Why do I need to add my bvn to cowrywise, I don’t feel that is necessary since have already linked my atm card
With your BVN added, we can ensure that withdrawals only go to your bank account.
how do i unflagged my account?
This is a very insightful article. Thanks.
Thank you.
Please I have been asking and begging to unflage my account and no attempt from you please I will still be pleading again unflage my account so I can top up my savings I have sent emails upon emails chart on charts but no attempt to unflage my account was made please unflage my account
un flagg my account why is that flagging thing just common. now i cannot withdraw my saving when i have plannned to use to t
o buy a system
Good insight from Cowrywise team
More win ?
Is it working
Hi ope, I want to withdraw my savings but I am finding it difficult because they keep asking me to put another maturity date which I don’t want to extend that very savings. This is my first time of withdrawal on cowrywise.
This is super enlightening. Thank you Cowrywise ?
I learned a lot from this kudos to the writer