Money Chronicles: At 18, Cowrywise Helped Me Achieve 6x My Savings Goal

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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 interviewed Jeffrey, a Gen Z who is already creating wealth for himself! He shares how he’s been able to save a lot in just six months of using Cowrywise and how his current biggest money mistake is not opening his Cowrywise account sooner. This is one go-getter and his thought process will inspire you.

Hi hi! What is your name and where do you school?

Hi, my name is  Negbenosa Jeffrey Tobi, a student of Unilag, studying Creative Arts. I work at Ni Fries as the logistics point man. On the side, I host events, create music covers, get paid to dance and work as a part-time hairstylist.

How did you find out about Cowrywise and how long have you been using the app?

I found about this platform through Feranmi Ajetomobi, who works at Cowrywise. It’s been 6 months now. I remember asking him if he could help me save a thousand naira daily and give me back after 6 months. Instead, he told me about Cowrywise and ever since I’ve been able to handle my finances better

Have you ever referred someone to use the app? If yes, did you use your referral code to get your coins?

Yes, I have. A friend of mine saw the app icon on my phone while I was trying to add more funds and asked about it. After I explained, he downloaded and created a plan. As at that time I didn’t know there was a specific gain on each referral, so I didn’t gain anything. I need to earn those wads! Lol

What money habit has Cowrywise helped you to incorporate?

Delayed gratification. Cowrywise really helped me over the last 6 months. The fact that I can’t withdraw my money until the maturity date is what I really love about the platform. 

I also love the ability to set targets. That kept me enthusiastic about meeting my goal before the 6th month. 

You’ve saved more than half a million in like 6 months as a Gen Z. “Where una dey see this money?” 😂 For real though, please share how you’ve been able to achieve this.

Firstly I made up my mind to save over 60 percent of my monthly income and I also have multiple income streams. 

I work at Ni Fries logistics arm. On the side, I attend and perform at shows that bring me good cash. Also, I learnt hairstyling from my mum. So, I take on hair jobs at school. I save 100% of the cash flow from my alternative income sources. 

Fun fact, I wanted to get a phone after I saved for 6 months and surpassed my goal, but I ended up rolling over on the maturity date.

So good.👏🏽 Talk about someone serious about compound interests! What did you sacrifice to be able to do this? 

I stopped unnecessary purchases, which helped me save more. I plan to do even better this year. By the way, I stay with my parents so it’s easier for me. 

How can other young people get internships or job opportunities like you?

The best way to get a job is to be bold and make a proposal. The worst answer you can receive is a no. 

I remember the day I got my job at Ni Fries. All I did was walk to the owner and told him I could handle certain things in the company. 

Be bold and don’t just say you need a job, let them know how effective you will be or how well you will manage the position. 

You’re relatively young and already imbibing wealth creation habits! 👏🏾 Did any significant life occurrence cause this or you’ve just learned from other people’s stories/experiences?

Yes… It might not sound like a super significant life occurrence but I needed a phone with a good camera quality to promote my art, and the best way to do that was to save up. 

What’s one topic you can talk about the whole day without getting bored?

Making more money. Lol. I can talk about this the whole day and won’t get tired. 

Share your biggest money mistake and how you overcame it.

I am still too young to answer this. Lol. Anyway, my biggest money mistake in my life was delaying the opening of my Cowrywise account. I wasted a lot before Cowrywise.

What’s an important money lesson you want to share with others who are Gen Z?

Save whatever you have, it will help in the coming days. Investing in one’s self and diversifying income is also an important step, it helps in meeting financial goals faster and protects you from the loss of a job. Make sure you learn a skill and grow career-wise…

Any lessons you want to share with the millennials too? 🌚

The old ones? Lol. They seem to take on debts a lot. I might not understand because I am younger, but learn to take on good debts and manage them properly

What do you currently spend most of your money on?

Looking good! It helps me to make more money; people love a good looking event host. 😎

If funds were unlimited, what will you purchase right now and why?

Loads and loads of sneakers cause I love them. 😂 

Have you already started experiencing black tax as a Gen Z? (Having to fend for family members as a black person…)

Yes I have. It’s really stressful I must say. But I am great at saying no when need be. 

Do you have any suggestions for Cowrywise?

Kindly help increase the interest rate on savings. 😂 

I know that’s beyond your control though. So, invest more in teaching people about how money works. You’re doing well already, just reach out to we the youngsters aka Gen Z more.

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