In today’s Nigeria, where the economic landscape feels like a battleground, many young people are grappling with the harsh reality of inflation, job scarcity, and rising living costs. It’s no surprise that the term ‘broke’ has become a casual label, worn almost like a badge of honour.
But here’s the truth: broke is not a personality trait. And it certainly shouldn’t be your identity.
The financial challenges Nigerian youth face are real but so are the opportunities to rise above them. The key lies in knowledge, discipline, and a shift in mindset. Below are five essential financial survival tips every Nigerian youth needs to not just survive, but thrive:
1. Track Every Naira
Ignorance is expensive. You can’t manage what you don’t measure. Whether you earn N10,000 or N100,000 a month, it’s vital to know exactly where your money goes. Use budgeting apps, jot things down, or use a spreadsheet just make sure you’re tracking your expenses.
2. Cut Unnecessary Spending
That daily shawarma, endless data subscriptions, or random online impulse buys? They add up. It’s time to separate needs from wants and prioritise essentials. Financial discipline begins with intentional spending.
3. Save, No Matter How Small
You don’t need to wait till you have “enough” to start saving. Start with N200, N500, or whatever is realistic. The goal is consistency, not perfection. Over time, your savings will grow, and so will your confidence.
4. Monetize Your Skills
You are more than your degree. Think beyond the traditional job market. Can you write, design, teach, or bake? There’s always a skill you can monetize. The digital economy has opened up countless opportunities embrace them.
5. Invest in Knowledge
Before you invest money, invest in your mind. Take free courses, watch financial literacy content, attend webinars, and read. The more you learn, the more empowered you become. Your mindset is the first asset you must grow.
Being broke is not a vibe, and it definitely isn’t a destination. It’s a phase, one that can be changed with the right tools, strategies, and mindset.
Remember, you are not helpless. You are powerful. And with the right financial habits, you can rise.
