Money Chronicles: I Got My Parents to Signup on Cowrywise to Kickstart their Savings and Investments

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 speak with Tolulope, a student at the University of Lagos and a campus ambassador who got her parents to signup on Cowrywise. She shares how she’s begun early to create wealth for herself and how she got her parents and friends to start saving and investing on Cowrywise. If you need inspiration on what’s possible with. a Cowrywise account, read this interesting conversation with Tolulope. Remember to share with any students you know to encourage them. 👏🏽

What is your name and what do you do?

I am Tolulope Ogunsanya, a final year Law Student at the University of Lagos.

Tell us what came to mind the very first time you heard about the Cowrywise brand.

I truly didn’t think too much. I just really liked the fact that the word ‘Cowry’ was in the name of the brand.

What prompted you to signup on Cowrywise? What reservations did you have – if any?

I wanted to save for my final year week (at that time, I didn’t know the pandemic would give me final year II 🌚). There are usually a lot of activities in that week and I wanted to have the money to truly enjoy them.

As with most people, I was concerned about the safety of my money because a Cowrywise account is not a regular bank account. I wondered if my money would actually be paid out at the set maturity date.

Nice! So glad you’re now a part of the fam. So, what has changed with your finances since you’ve been using Cowrywise?

Prior to using the Cowrywise App, I was a big spender. I would only save for a particular purchase and then spend all the money as soon as I saved up the exact amount needed. 

Now, I have made saving a habit and my first instinct when I get money is to set aside a particular amount as part of my savings. I also have investments and I can watch my money grow. 🤩

{P.S.: Cowrywise allows you to start investing with any amount, so don’t think that I have blown and don’t need money anymore. 🥲}

Haha! Tolulope, please bless us oh. 😂

One time, you mentioned that you introduced your parents to the brand. You got them to signup on Cowrywise to kickstart their savings and investments. Thank you for that! How did you go about that?

The key is being who you want others to be. After I delivered the letter Cowrywise sent me to them and they saw the CEO’s name and signature, they were impressed

My family members saw how much I trusted the brand and how much my spending habits had changed. To them, I was a living testimony of the benefits of using Cowrywise. 😅

So good! Did you have to work hard to convince them or they readily accepted to use an app that works differently from the regular banks?

Well, I talked about Cowrywise a lot and I had helped some of them keep their money in my own account. So, they had knowledge of a couple of features without even using the app themselves. It made the process a lot easier.

Love it! 👏🏽

Apart from your parents, have you gotten anyone else to signup on Cowrywise? Hope you ensure they use your referral code during signup? 😉

Yes. I have introduced my close friends and some of my roommates to Cowrywise.

I am a level 1 Ambassador of Funds. 🙌

Whoosh! There are levels to these things. 😎

What is your best Cowrywise feature and why?

My best feature on Cowrywise (even though it’s not in the app itself) has to be the Cowrywise blog.

I love how every new feature is broken down and explained on the blog. 

I also love the effort put into financial education on there. From the wealth practices of other countries to the easy breakdown of terms like mutual funds and other interesting pieces on the blog, Cowrywise shows that emphasis is also on educating people, not just getting them to use the app.

What would you say to a student like you who’s still stalling to signup on Cowrywise so they can take their money management and wealth creation seriously?

The best time to start is now. If you don’t learn how to manage money now, you probably won’t be able to even when you’re earning more.

What’s the top lesson using Cowrywise has taught you about money? 

Money can grow. 🌴

– Tolulope Ogunsanya

We always look at the small figures and think “What can this even do/buy for me?” but these little drops of water, when managed wisely, can become a mighty ocean.

Do you remember the very first time you were taught that money was a thing of value? Share the experience with us.

I don’t think I can think of one pivotal moment. I’ve just always seen money as valuable.

What are your thoughts on ponzi schemes? Do you know anyone who has ever fallen for one? What lesson did you learn from their experience?

Whenever I think of Ponzi schemes, I just feel bad for people who genuinely trusted the promoters and invested, only to end up worse than they started.

Yes o. I know a couple of people that have fallen victim to them.

I’ve learnt to do proper research and to ignore exorbitant interest rates. Once I hear something like 25% interest per month, my first thought is “AVOID ME”. 🙄

Love that lesson on carrying out proper research and being weary of weird and often unrealistic interest rates. Anyway…

Bone straight 👩🏼‍🦰, an all expense paid travel to your top destination ✈️ or give you the money?

LOL! For me, bone straight shouldn’t even be an option here.

If you’re not paying for my musketeers to travel with me, give me the money. 😶 

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

I know I just said bone straight shouldn’t be an option but the answer here is – Hairrrr 😩😩. Ahh, see my life – just after denying hair.

Thing is, I just really love good hair. It was one of the things taking up a lot of my money but thank God for Cowrywise. I now buy it only when I know I can conveniently handle the expense.

You’re one of our campus ambassadors and we really appreciate you. Why did you apply to be an ambassador and how has it been so far?

I applied because I wanted to let people know that wealth management can be made easy. I went from not having any personal savings to doubling my savings goal, I wanted others to have similar or even better experiences.

I’m loving my experience as a Campus Ambassador {I took my first jump-in-the-air picture at Cowrywise 😁}

I now know a lot more about Cowrywise and I’ve been able to meet a lot of really cool people.

I look forward to all the other beautiful experiences the Ambassadors’ program has to offer.

We’re excited about all that’s in store for our student Ambassadors as well! 🚀

What is the money terrain like on your campus and how have you been able to talk to people about savings and investments?

A lot of people feel like it’s only those that are “rich” that can save or invest.

I have been able to let people know that with a little more consciousness about how much actually enters our hands and how much we spend, all of us can save and invest.

You can start with #100 or #500 or #1000 but the best thing to do is start.

– Tolulope Ogunsanya

Mahn. The amount of gems you’ve dropped this conversation. We can tell that you know what you’re talking about!

Yes, I do. 😎

Any suggestions for the Cowrywise team?

Before any suggestion, I just want to give a commendation. The Cowrywise team is doing an amazing job. I have a lot of respect for the team.

Now to the suggestion: The Cowrywise App should have a dark mode. ⚫

The dark mode gang! Some people joke that they want to be seeing their funds in light mode oh – everything bright and clear. 🤣 But thanks a lot, Tolulope. We’ve taken note of your suggestion and will share with the product team.

Thank you too. Was my pleasure speaking with you!

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Are you a member of the tribe but you’ve never gotten someone else to signup on Cowrywise? Well, here’s your chance! – Ask your friends and family to start here.

Remember to ask them to use your referral code while signing up so you can both get cash bonuses. 😉