Nigerian women and Money (Part 1: For the stay at home mum)

nwam4-part-1

My friend Oyinda once said that in Nigeria, when it comes to managing their finances, most women are raised to go from depending on their fathers to depending on their husbands. I found this quite profound as it meant that in most households, men are taught to hustle hard but women are taught to marry well. This is essentially what Chimamanda Adichie was saying in her TED talk.

However, in modern day Nigeria, if a woman isn’t smart about her money, any sudden life changes could mean an inability to adapt quickly. Unfortunately, women are more vulnerable financially when it comes to divorce, death of a husband or loss of a husband’s income.

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GENEVIEVE PINK BALL FOUNDATION

Hi Guys! So my mentor @taradurotoye ropes me into doing many amazing things but this is one of my favorites! Breast cancer affects thousands of Nigerian women every year so it is not an ‘oyinbo’ disease…

The foundation is raising money to provide free treatment for 100 patients (chemotherapy, reconstructive surgery etc) let’s do something that actually matters! Please support the cause by registering for the run/walk #evenifyoudontrunorwalk lolll!

#makeadonation #everylittlehelps #dosomethingthatmatters Saturday 13th of September. Meeting Point: Divine Mercy Church, off admiralty way, Lekki 7am Have you registered? Please call 08172044137 #GPinkBallWalk #BreastCancerAwareness

Tipping in the states!

tipping in the states

Ok this made me laugh sooo hard! ( because I could totally do this)

Maybe it’s because I’ve never lived in America that I don’t get this whole tipping for no reason business… Call me crazy but I believe in tipping for exceptional service ( I.e like in Nigeria when someone helps you find parking or in London when someone carries your 5 suitcases up 2 flights of stairs )not when someone just breathes next to you and then expects you to tip them. They claim it is optional but they’ll all but spit in your eye if you don’t tip them the way they want and start calling you all sorts of names in * French* to ur face

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Are you running a business or playing at a hobby?

Are you running a business or playing at a hobby?

Nigerian Entrepreneurs are some of the smartest, most creative people you will ever meet. They are dreamers and risk takers and there is never a shortage of good ideas. However, why is it that some struggle while others thrive?

Doing business in Nigeria requires a special kind of patience and some of the obstacles can kill even the most passionate entrepreneur’s determination to succeed.  However, some entrepreneurs get in their own way by not taking the time to understand the role that having control of their business’ finances plays in their success or failure. These are three tips that can help.

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The Debt Conundrum!

A padlock and chain around a wallet 

‘Neither a borrower or lender be’ – Shakespeare

We’ve all been there! You lend money to a friend who is supposedly in ‘need’ and you get burnt! Their attitude becomes so belligerent that you start to believe the saying that ‘no good deed goes unpunished’.  Then somewhere down the line you are caught in the same situation and another friend asks to borrow money, you are torn between your need to ‘help’ and be considered a good person and the fear that you may never get your money back.

So as I got older and the financial responsibility of being an adult got real, I realized that there is an opportunity cost for every naira I spend. Therefore I had to think carefully about lending money that I may never get back. So I developed a new policy.

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Stay In Your Lane

I heard the most intriguing story this weekend that made me question the impact social media has on our finances.

Sade: I need a favor. Please can I borrow N200, 000? I’ll pay you back with interest in 2 months.
Tolu: What do you need the money for?
Sade: Remember the Celine bag (N484, 000) I bought in February? I borrowed some of the money from Ngozi. Now she’s hounding me everyday. I need the money to pay her back.
Tolu: Why did you buy the bag if you can’t afford it?
Sade: Abeg don’t insult me o! Who told you I can’t afford it? I saw Lara’s blue one on Instagram in December. We are the same age, we are both working. So what makes you think she can afford it and I can’t?
Tolu: Look at you! Be following Lara! Don’t you know she’s an ‘Aristo’ girl.

Something is wrong with this picture, no?

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