Ope’s Money

Diary

by Ope from Cowrywise

Hey, not cool…

Chances are that you’d fall in love with what you’re

about to read in the next few pages, and that’s
absolutely cool.

We believe there is love in sharing…money and

financial knowledge.

So, feel free to share, by lending this book to your

friends who can also lend it to theirs.

Got the e-book? Feel free to tweet a sentence that

strikes a chord with you. Blog about a chapter that
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We only ask that you don’t sell, alter or plagiarise

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Do we have a deal? Yes?

Perfect.
First of all, introduction…

Hi, my name is Ope, your money bestie from

Cowrywise and I live at https://cowrywise.com .
You find me there, in your email giving money advice
and catching you red-handed when you’re about
to make bad financial decisions. That was how I
reached my celeb status even though no one knows
what I look like.

Being a celebrity comes with its risks, though.

Because of my all-seeing eyes—jealous Yorùbá
people will call that gbéborùn—I’ve received a
number of social media threats from people saying,
“If I catch you for street”.

Come to think of it, all I am interested in is helping

you make the right financial choices, now I have to
deal with the threats by staying anonymous. I hide
all the time and that is not the best place to be but it
has taught me to be secretive.

Now, I will let you in on one of my secrets, which does

not feel like a secret anymore to be honest. I was
not always Ope, the financial wiz. I was not always
Ope, the money guru. Once upon a time, I was Ope,
the money-ignorant. I knew nothing about money.
I made many money mistakes. Some of them were
expensive—money mistakes always come at an
expense, don’t they? Looking back at some of those
mistakes, I cringe in embarrassment.

That’s why I’ve made it my life’s mission to ensure

people don’t make the same mistakes I made. You
can learn from me so that you do not bite your finger
the way I did when I lost my investments. I can help
you replace ‘Oh God’ moments with ultimate cash-
out experiences.

Money works when you know how money works.

Simple. In this book, I spill the juicy money gist—
the secret ingredient that you need to not only turn
your lemon into lemonade but make it a lemonade
factory—yes, that kind! This premium money gist is
a collection of past experiences as they relate to my
favourite money topics.

In the next few pages, I’d be snitching on my

coworkers and sharing scenes from my everyday
money life, hoping to teach you and to give you a
peek into what it’s like being Ope from Cowrywise.

We may not know each other, but I hope that

changes as you turn from page to page…

Let’s find out, shall we?

Now, some context…

My life is pretty simple, but I open my laptop every

day with different expectations.

I am the customers’ mouthpiece. I share your

feedback with product managers and remind the
social media team to reply to DMs every time a
notification pops up. People will come for my head if
there is any delay, so I’m always alert. Eyes always
open, ears always listening, Ope is always awake,
no dulling with me.

I love my work too. I work with the most brilliant set

of people at Cowrywise—you should know this by
now—to democratise access to wealth because
everybody deserves the freedom that comes with
having money.

Oh well, that’s pretty much everything about me.

You’ll find out more as you read on.

I’m a little shy, but I’d be over it.

Let’s begin.
Ope's
Money
Diary
21 short stories on
how money works

by Ope from Cowrywise

Published in Nigeria in 2022 by Makere
A trademark of Masobe Books and Logistics Limited
34 Gbajumo Close, off Adeniran Ogunsanya,
Surulere, Lagos, Nigeria
Tel: +234 806 316 6939, +234 701 838 3286
[email protected]
www.masobebooks.com

Copyright © 2022 by Ope

A catalogue record for this book is available on

request from The National Library of Nigeria

ISBN: 978-978-998-046-8

All rights reserved.

No part of this publication may be reproduced,
transmitted or stored in a retrieval system in any
form or by any means, without permission in writing
from the copyright holder.
Contents

Are You the Money Doubler?. . . . . . . . . . . . . . . . 1

Village People, Perhaps . . . . . . . . . . . . . . . . . . 11
Daily 2K . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Ope of Banana Island . . . . . . . . . . . . . . . . . . . 27
Ope of Miami, Actually . . . . . . . . . . . . . . . . . . 33
It’s a Goal!. . . . . . . . . . . . . . . . . . . . . . . . . . . 43
Like Pizza Slices . . . . . . . . . . . . . . . . . . . . . . . 51
Commitment Issues . . . . . . . . . . . . . . . . . . . . 61
Tiny Drops . . . . . . . . . . . . . . . . . . . . . . . . . . 67
It’s Not You, It’s Me . . . . . . . . . . . . . . . . . . . . . 75
Man Proposes, Emergency Disposes . . . . . . . . . 85
Fifteen Shoes . . . . . . . . . . . . . . . . . . . . . . . . 93
Someone is Spending my Money . . . . . . . . . . 101
Here’s a Magic Trick . . . . . . . . . . . . . . . . . . . 107
She Swallowed a Razor Blade? . . . . . . . . . . . . 117
The Good Life . . . . . . . . . . . . . . . . . . . . . . . 125
Adulting Issues. . . . . . . . . . . . . . . . . . . . . . . 131
Privilege & Payday . . . . . . . . . . . . . . . . . . . . 139
What Are the Odds? . . . . . . . . . . . . . . . . . . . 143
A Personal Secret . . . . . . . . . . . . . . . . . . . . . 151
It’s Been Real. . . . . . . . . . . . . . . . . . . . . . . . 157
 1
Are You the Money
Doubler?
money doubler NOUN (NigEn)
1
a person who claims to have the abilities to
double money: The money doubler tricked the
young man to empty his account
2
a person who desires to have their money
doubled.

ORIGIN
Nigeria, earliest use was found in the Daily Times.

1
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P onzi schemes? Money doubling? Financial

scams? Sound familiar?

Then, pull a seat, let me tell you a story.

While I was growing up, sometime in Primary 3

or 4, I had just switched schools. It was a breath
of fresh air because I was bored of taking the
same route to the other school every day. This
new school was in a different part of town, so it
felt like a new adventure. There were new things
to see—billboards with shiny unfamiliar faces,
unknown street names to memorise, roadside
fixtures to encounter. I explored all these through
the back seat window on my way to school.

One day, along the road, I noticed a bright sign

on an old fence, written with white paint.

2
 ARE YOU THE MONEY DOUBLER?

All kinds of thoughts ran through my head.

Money doubler? How do they double the money?
Do they have their own money printer? If they
do, why can’t we all get one? Do they take your
money and do abracadabra in front of you and
all of a sudden your ten naira becomes twenty
naira? If they could double the money, why then
are countries always owing all the big big money
I hear on the news?

Every single time I passed that sign, my mind

raced faster than our car.

To answer my questions, one day, I decided to

call the number. Thinking of it now, I don’t know
what the heck I was thinking, but I guess eight-
year-old me was not having it.

My plan was simple. Get a pencil and paper

ready. Write the phone number down really
quickly as we passed. Of course, I could not ask
my dad to slow down for me to copy it. I would
have to explain why I was getting a money
doubler’s phone number on the streets of
Surulere. So, on the first day, I got the first three
numbers. On the second day, I got the next four.
On the third day, I got all the numbers complete

3
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and wrote it at the back of my Math homework

book.

Later that evening, as my dad snored on the

couch while watching CNN, I took his phone
and tiptoed to my bedroom to call the money
doubler.

Then, I got so scared. What was I going to hear

from the other end of the call? What if my dad
woke up and started looking for his phone?
What if he came and saw me making a call? Who
would I say I was talking to? What was I even
going to say when the money doubler picked up
the phone?

I damned the thoughts and dialled the number.

A woman picked up the phone.

I’m not sure what I was expecting, but I think I

had subconsciously expected a male voice.

I said “hello”, adding more bass to my voice,

my attempt at an adult voice. She replied with
a long paragraph as if she had been expecting
my call or something. A part of me thought she
was doing money incantations, something to

4
 ARE YOU THE MONEY DOUBLER?

jazz me, make me behave like a zombie and do

everything she asked, like empty my kolo and
hand my savings to her. I later realised: she was
speaking a language I did not understand.

Out of panic, I hung up, deleted the log from my

dad’s phone, and never spoke of that incident till
date. After that, I thought for a while, perhaps,
she was not the only money doubler; even I who
wanted my money doubled was also a money
doubler. It is not actually doubling the money
that makes you a money doubler but the desire
to double money for yourself or other people—
you get?

As time passed, money doublers have become

more audacious. Their phone numbers are no
longer on roadside fences, waiting for desperate
unsuspecting citizens to fall prey. They are no
longer cab drivers telling you about a money
printing machine that they need more money
to buy. Or a man with a Ghana-must-go bag
loaded with money that he needed more money
from you to double. They now wear suits and
ties. They now print well-designed fliers. They
now have thousands of social media followers.

5
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They now have celebrities as their ambassadors.

They now have fancy-sounding names and
claim to invest in familiar sectors like agriculture
and transport. So, you need to be careful. As we
say in Nigeria, ‘you need to look left, look right,
and left again’ before crossing the financial
investment road. Literally.

So, how do you identify scams, Ponzi schemes

and fraudulent investments?

Check one: Dig more into the company. Yes,

wear your investigative goggles and literally
dig beyond the sheen of their branding.
That a popular celebrity is the company’s
ambassador is not an assurance. Probe
deeper: Who are the founders? Who are
their board members? Do they have a clear
company culture or structure? Is it a family
company where family members place
higher interest on their family name over
your coins?

Then, you can begin to query their investment

strategies, for real. Wear your binoculars as
you read the Memorandum of Understanding
or Terms and Conditions that will tie your

6
 ARE YOU THE MONEY DOUBLER?

money to them. Beyond the gloss of the

adverts and calls to action of their jingles,
ask: are they clear on their investment sector?
Agriculture? Real estate? What exactly would
you be investing your hard-earned money in?
You deserve to know. You may unearth gems
that will save you money and future regrets.

Check two: Verify their returns. Ask yourself:

How realistic is it? What kind of investment
are they doing that would give you 50%
returns in one month or even six days?
Double-digit returns in a month should be a
red flag. Monthly double-digit returns should
set alarm bells off in your head.

Check three: Find out more about their sign-

up options. How do they get new sign-ups? Is
it driven strictly by referrals? You may want
to take a closer look, or run for your life. The
scammers are most likely giving you returns
based on referral deposits—and not actual
investment returns.

Check four: Research their investment risk

management plan. What is their plan if the
investment fails? If they guarantee you full

7
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payback if things go south, that’s sketchy.

It may sound reassuring, but the truth
about investments is that they involve risk.
Rather than try to mislead you, a reputable
investment company or group will educate
you about their risk management strategies.

After you have checked all these boxes, you

also need an extra layer of security for your
money. So,

Check five: If the investment firm does

not have a verifiable website, address,
registration details, and is not associated
with any regulatory body such as the
Securities and Exchange Commission (SEC),
you should avoid them, totally. It is not enough
for the company to just be registered, you
should ask: registered by who? Registered
to do what? Cowrywise, for instance, is a
Fintech firm duly licensed by the Securities
and Exchange Commission (SEC)—the main
regulatory institution of the Nigerian capital
market—in the fund/portfolio management
category. Having this information will give
you a better understanding of their duties

8
 and limits. It also means that if something
goes wrong, there are industry watchdogs to
call them to order.

Getting duly accredited by these regulatory

bodies is not an easy process, but any brand or
investment company that has your best interest
at heart (no pun intended) will follow due process
to ensure your money is safe.

Every day, more and more people fall prey to

Ponzi schemes and scams, and it breaks my
heart. I don’t want you to be one of them.

Look right. Look left. Then, look up; look down.

Stay safe, and stay vigilant.

Ope

9
 2
Village People, Perhaps
village people NOUN |Slang| (NigEn)
An imagined group of people blamed for
Nigerians’ problems: Village people are
after you

ORIGIN
Nigeria.

11
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A family member—let’s call her Sopé—lost

a lot of money to the MMM Ponzi scheme.
Months later, this same person lost money
to Loom. How do you get struck by the same
lightning on the same spot two times? ‘Once
bitten twice shy’ the saying goes but with people
like Sopé it is ‘twice bitten, once shy’. Why does
the same wrong befall the same people?

“Village people,” you think.

“It is the devil,” you say.

Maybe we should stop blaming village people

and the devil for what we used our own hands
to cause.

So, why do people fall victim to these fraudulent

schemes again and again?

Ignorance is not the only reason people fall

prey to these scams. Neither is it solely greed.
I’ve worked long enough in finance to know
that people want to make the most money,
who doesn’t? The fact is this: We are all chasing
money. We all want to earn more money, but the
question is how (fast)? The trouble is this: many

12
 VILLAGE PEOPLE, PERHAPS

people want to make the most money in the

shortest time possible. And this is why a lot of
people fall for these scams.

So I’ll be honest with you: this is not how wealth

is built.

Wealth-building is a looooonnnnnng game. You

don’t build wealth by getting one-off 50% returns
on an ‘investment’ in five days. Neither do you
build it by having your investment doubled just
hours after it was made.

There are so many problems with this.

Apart from the fact that money so easily gotten

is spent faster and less frugally, there is an
addiction to ‘fast money’ after one has spent
a significant amount of time indulging in such
schemes. It becomes a race for the next one…
and the next one…

Again, wealth-building is a long game, so any

source of income that is not sustainable or
doesn’t sound realistic should be taken with a
pinch of salt.

13
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Safe investments are a sure way to build wealth

in the long run, but this is not to say there are no
risks involved. You just need to decide how much
risk you are willing to endure, should the need
arise, and invest accordingly.

So, how else can you build wealth? Have a side

hustle. No, don’t look at me with a side eye, I
mean it. And no, Ponzi schemes, money doubling
or whatever names they are called, are not side
hustles.

If you have a knack for selling, or convincing

people, and you feel you can handle a product-
based business, there are many online channels
where you can start. Thankfully, you don’t need
to have a physical location or a lot of capital,
you can drop-ship.

If you’d rather not be involved with the everyday

hustle of selling products, you can sell a service.
What skill do you have? What are the questions
your friends always ask you? What are the
things you find easy to do that people need?
What can you do to make people’s lives easier?
What service can you offer?

14
 VILLAGE PEOPLE, PERHAPS

If you take time out to answer these questions

honestly, you should find something that you
can monetise. In fact, while you were reading
the questions, I guess some things popped into
your head—think about them deeply.

It does not stop there.

When you figure out what you are good at and

start a side hustle from it, you can create even
more streams of income from that basic skill.

I will tell you how I did this.

In my second year at uni, I had picked up

photography as a hobby. By my fourth year,
I had started making income from several
sources. While I got paid for portraits, I also took
random nature shots and uploaded them on a
stock website. Today, I no longer take portraits
as a job, but I still earn money from that site.
Voila, passive income even after I’d dropped the
camera.

Another way I could have earned money from

photography was by teaching it. If I organised
classes on the weekends—bonus points if it

15
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was a monthly series of classes with structure,

or an evergreen course of pre-recorded content
uploaded on a site which people gained access
to after payment. See, my ever streaming source
of income just gushing.

Going even further, I could sell my presets.

Presets are basically customised filters that
help give photographers a signature feel to their
photos. Just lookat, my gift keeps on giving.

The list is long but I’m sure you get the point by
now.

If you like to cook, you can partner with brands

to supply lunch to their workers at a fee every
weekday, and cater to events on the weekends.
You can also bake and supply pastries to
supermarkets weekly. This way, you would have
created three streams of income from one skill.

Whatever you do, don’t limit yourself. Open your

mind and see that there are many things the
world has not figured out yet, and they are just
waiting for you…

16
 VILLAGE PEOPLE, PERHAPS

Find those skills, get your money bag and begin

to pack. No, not for a trip but earnings that you
can now invest.

Everybody wants to earn more, I know.

Everybody wants to increase their streams of
income, I know. When I started this, you probably
thought I would give you a list, from which you
will perhaps be able to ‘grab your own copy
now’. Sorry, I don’t have an exhaustive list, and I
don’t think you need one.

Find the skills that you have—for me it was

photography—and offer the service to people.
If you don’t think you can offer it as a service,
you can teach it for a fee.

One more thing: with side hustles, you need to

learn the fine art of balance.

Back then in school, when I used to get those

photography gigs, at first, I had a hard time
juggling it with my schoolwork. In fact, for a
while I struggled, until after a few months when
I found the hack.

17
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I’m sure many people within the 9-5 space have

the same worry, and it’s probably the reason
many are scared of starting side hustles. “Would
I be able to balance it with my rigorous 9-5?”
“Won’t I need to hire people to help me?” “I don’t
think I have the time.”

My advice would always be the same: Plan and

prioritise.

Balance does not always mean 50:50.

Sometimes it could be 80:20. Your side hustle
may only require two hours every day for it to
perform optimally. So, don’t feel guilty about not
giving it equal time and/or energy with your 9-5.

Determine which is higher on your priority list,

and create systems to automate as much as you
can. For instance, instead of hosting live online
classes weekly, pre-record all the modules, and
upload them on platforms like Teachable, or
Thinkific for people to access after payment.
That way, you can do other things while getting
paid for your knowledge.

18
 VILLAGE PEOPLE, PERHAPS

Whatever you do, as long as it is not illegal or

irrational—like giving an unlicensed stranger on
the internet your hard-earned money for 70%
returns in one month—I’m sure you will be good.

Yes, you will. I believe in you.

Ope

19
Wealth-building is
a long-term game.
Ǔ Ope
 3
Daily 2K
daily 2k NOUN |Slang| (NigEn)
Daily earnings made from daily work: Let
me go to site and make my daily 2k

ORIGIN
Nigeria.

21
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

T he world is controlled by laws. What goes

up must come down. What you sow, you
will reap…all those laws. You were likely taught
some of them in science class: Newton’s Law
of Motion and Hooke’s Law of Elasticity. Guess
what is also guided by laws?

Yes, money. You guessed right. A popular one

is Parkinson’s laws of money, named after its
proponent, Cyril Northcote Parkinson—quite a
mouthful!—a British historian. His second law
states that expenditures or ‘money paid’ out
rises to meet income. In simple English: the more
you earn, the more you spend.

So, take this as a warning: when you start

earning more, you may get tempted to increase
your spending too, and paint the town red
every Friday. So, when you start to get the itch
to buy that new designer shoe that was not on
your budget, or when your hand is picking the
more expensive brand over the one you would
normally buy, remember Parkinson—no, not the
disease—Parkinson’s Second Law.

22
 DAILY 2K

Memorise it.

Print it.

Place it at the entrance of your office, for those

who buy goods on credit.

Save it on your phone, for yourself every time

you want to eat with all your ten fingers—that is
how Yorùbá people refer to someone who does
not save for the rainy day.

Share it on your WhatsApp status, for those who

want to beg you for urgent 2k.

More seriously though, this—no, not Parkinson’s

Law but spending all that you earn—is the
reason most people stay broke despite extra
streams of income under their belt.

You need discipline to ensure that you don’t

eat your capital. One of the ways to build this
discipline is saving daily. Many daily earners do
this; if you go to many Nigerian markets, you will
see a thrift collector sharing envelopes around,
ticking days with a red pen and collecting
traders’ daily savings.

23
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The Daily 2k Savings Circle is structured in

a similar way. It not only helps you build the
needed discipline to save daily, it also helps you
meet business owners and entrepreneurs with
daily inflow just like you.

The good thing about saving with a group of

people is accountability. The same type that
keeps the traders committed to their thrift
collector every day because they know that
once the circle is broken, their earnings end.

So, when I say accountability, I mean peer

pressure—the good kind.

Savings Circles is one of my favourite Cowrywise

products, and my favourite feature is the
leaderboard that every saving circle has. To top
it all up, you get a badge when you’re number
one on your leaderboard till the maturity date.

So when I say peer pressure, I mean it.

Every time I checked the leaderboard in my

circle, and I had dropped to second or third
position, I would top up to get myself back to
number one. At the end, someone deposited a

24
 DAILY 2K

lump sum two days before the maturity date,

and I would be lying if I say it didn’t hurt me a
little. Okay, a lot, actually.

I worked hard, and made sacrifices to keep

topping that leaderboard, but Símisólá had
other plans.

Oh well, we are in another circle together and

I’m not going to be caught slipping this time.

In hindsight, I know how much more I was able

to save because of the peer pressure from the
circle. It was an automated plan to save 2000
naira every day, but I remember topping it up
manually on so many days because I wanted to
maintain my first position.

This is a good way to put money aside as often

as it comes in.

I wish Circles existed while I was growing up. I

would have used it to save the extra money my
uncles and aunties gave me during holidays.
Rather than spend on things I no longer
remember, I would have used my savings to
make a solid investment.

25
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Apart from being able to save for personal

reasons, there are collections and donation
circles to organise trips with your friends, or pool
funds together with your siblings to buy your
parents a house.

In those cases, you can all have the funds paid

out to your oldest sibling at maturity, instead of
receiving the payouts individually.

Having an automated saving plan made my

life a lot easier, but Circles? Circles have that
sprinkle of peer pressure in just the right amount
that pushes me to do more.

Sometimes all we need is a catalyst to achieve

our goals. It’s the same principle that Circles is
built on—saving with friends while maintaining
individual access to your funds. The leaderboard
makes it fun, keeps you accountable.

It’s the kind of healthy competition I like.

What about you?

Ope

26
 4
Ope of Banana Island
banana island NOUN
An expensive artificial island—shaped like
a banana from the aerial view—built on
reclaimed land in Lagos, Nigeria: Ope lives
on Banana Island

27
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Iclaim that example by fire. And before you go

off on me about me being extravagant, hear
me out.

I don’t own a house on Banana Island—at least

not yet, until I can afford it.

“I can’t afford it at the moment.” It’s absolutely

okay to say that.

We’ve talked about the good kind of peer

pressure that can help you boost your financial
fitness and stay consistent, but we haven’t
spoken about the negative kind that makes you
spend money you cannot afford at that time.

This is something people face, especially

because of FOMO—the fear of missing out.
So, let’s talk about it. I want to tell you a story.
Pull your chair closer, you do not want to miss a
thing. It is a story about healthy boundaries and
sticking with them at whatever cost.

It was my second year at university. Two of my

friends came into my room one Friday morning
and went on and on about this new mall they
wanted us to check out.

28
 OPE OF BANANA ISLAND

“They have amazing discounts,” Tola raved.

“There is also this chic restaurant downstairs

where you can eat the best meals,” Ngozi said,
eyes closed, pretending to be savouring a dish.

“What about the unbeatable deals? Buy two,

get one.” It was Tola again. “Omg. Don’t forget
their loyalty packages.”

While I didn’t care so much about the mall,

because I didn’t need to get anything at that
time, I listened. Besides, it was the third week
in the month and it was just 15,000 naira that
separated me from poverty, so I was trying to be
as frugal as possible till I got my next allowance.

“Wo, I am not interested.” I replied them.

“You don’t want to go, or your allowance has

finished?” Tola queried, brows raised, lips spread
in a sheepish smile.

Ahhh, I felt it. Her words hit me. My street cred

was at stake. A whole me, Ope.

“Of course I can afford it. I just don’t feel like

going.”

29
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

After more persuasion, I decided that I would

just go with them because you only live once.

That was the beginning of my woes.

Everything that happened in the next twelve

hours of that decision ended with a compulsory
seven-day fast. I woke up in the afternoon
for a week straight so I could save money on
breakfast.

You know the worst part? Those my friends went

out with their other friends the next day, and
the next weekend, while I was busy fasting and
praying to the worms in my stomach for mercy.

I realised that a simple “No, I can’t afford it right

now,” would have saved me the stress.

What is the worst that could have happened?

Can everybody afford everything at every time?

Absolutely not.

Saying you can’t afford something at any time is

not a sin, neither is it shameful. It simply means
you are self-aware, honest and disciplined.

30
 OPE OF BANANA ISLAND

It also opens the door for your friends to say,

“I really want you to come, so I’ll pay for you.”
Who doesn’t like an all-expense paid outing?
Definitely not me!

So, never be ashamed to say “I can’t afford it

right now”. The ‘worst’ that would happen is you
get an all-expense paid outing, or you miss out
on the fun for one day, and you’re able to sustain
yourself and afford three square meals for the
coming weeks.

FOMO can make you do a lot of things, and I can

see why, but you need to be honest with yourself.
You have to be vocal about your boundaries.

Also, as a side note, if you are big on building

wealth, it makes sense that you should keep
company with like-minded people. It is not
compulsory, but it has benefits. Of course, when
you say no, they will understand. When you tell
them you’d rather invest the money than splurge
it at a club, they will get it.

You don’t get rich by spending money on

frivolities. Surround yourself with people that
believe the same.

31
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Be aware of your limits. Set boundaries. Be vocal

about your boundaries. I’m sure your life will be
better for it

Love,

Ope

32
 5
Ope of Miami, Actually
ope of Miami NOUN
An aspirational addition to one’s name
especially in relation to a dream city where
the bearer hopes to live in the future: Ope
of Miami has arrived

33
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

A quick disclaimer: between the last chapter

and this one, my goals have changed, so
my (chapter) title changed too. Goals!

So, kindly adjust accordingly. Moving forward, I

will not answer you if you call me ‘Ope’ without
my full title ‘Ope of Miami’. Put some respect on
the name.

You can also go with ‘Ope Pounds’ or ‘Ope

Dollars’ for variety if you like but ‘Ope’ will not be
tolerated. Wait, notice how ‘Ope Dollars’ rhymes
with ‘Otedolas’.

Well, I guess I found my rightful family. Anyway,

before I get distracted again, let me tell you why
I chose this title. Why Miami? Why not ‘Ope of
Ikoyi’ or ‘Ope of Toronto’, and why did I change
from ‘Ope of Banana Island’?

The truth is, there is no big story behind it. I was

watching TV last night, and I saw a real-estate
documentary on some of the world’s most
expensive vacation homes. The one that caught
my eyes was in Miami.

34
 OPE OF MIAMI, ACTUALLY

It was on twelve acres of lush greenery, with

a beach house on the other end of the land
overlooking the ocean. The owner said she
sometimes spent weeks in the beach house
when she needed to take a break.

Do you know what kind of flex it is that you

can take a vacation on the same property that
you own and live on, and it still feels like you’re
somewhere else?

I saw all the zeros on the price tag of the

property, and it was the same number of ‘hs’ in
my “Ahhhhhhhhh,” as my mouth stayed open for
some minutes.

You see, I don’t intend to always pay rent. I watch

all these documentaries because they give me
a glimpse into my desired future. They keep me
on my feet and inspire me to work towards my
goals. I plan to be a house owner one day, and
I’m sure I’m not the only one, so this title is me
speaking it into existence.

Buying a house, or owning property is a good

thing, and perhaps in an ideal world, everyone

35
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

should not have to rent. We should all own our

houses.

But have you seen the number of uncompleted

buildings rotting away on every other street in
Abuja? It’s as if people do not make proper plans
by counting the cost before giving in to the
pressure of building houses.

Yet, every five scrolls on Instagram, there is a

smiling young couple in front of a house with a
big ‘SOLD’ sign and a caption about them being
homeowners aged twenty-five.

“God when?” You say and sigh, after reading

their story.

The pressure is real. Every day, there are different

real estate companies springing up all over
Nigeria, many of them building skyscrapers that
will give Dubai a run for its money. Some of them
with adverts targeting the 1% of the 1%, even
filled with an air of arrogance that if you cannot
afford their estates, it is okay to just admire
them. Even I, Ope, swallowed hard, admired and
just looked away. So, I understand the pressure.

36
 OPE OF MIAMI, ACTUALLY

But should you give in? Even when you know

you’re not ready?

My advice will always be: slow and steady. It

applies in life, finances, even everyday activities
like eating. If you don’t take it slow and steady,
you will end up choking and coughing.

Rent until you can own.

There are many factors to consider when

deciding to rent or buy, at every given time. I’m
not a real estate consultant, so this is basically
from a purely financial standpoint.

What stage are you in your life? Are you at the

beginning of your career? Just leaving school?
About to get married? Your current stage in
your life will determine your responsibilities and
priorities.

If you’re just leaving school, or at the beginning

of your career, you will likely have other personal
priorities and financial goals. Later in your life,
your priorities may shift towards catering to
your family or building a house.

37
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Whatever stage you are at, you need to consider

a few things before making the financial
commitment to either buy or rent a house.

First, be sure of your settlement plans. Do

you know where you plan to settle? What
city? Are you certain of it? If you are, then
you can consider buying, or building. If not,
renting is a better option.

Second, know your ‘mobility level’. Young

people are not called ‘upward-mobile’ for
nothing. And when you move up, you also
tend to move around, a lot. This is hardly the
generation where many young people will
be at the same job doing the same thing for
thirty-five years. So, you need to ask yourself:
Do you prefer to be mobile and flexible at this
time of your life? If you do, renting allows you
to do that more. If you prefer to set up a base
somewhere, and you’re sure of where, you
can tilt more towards buying or owning your
house.

Third, finances. Listen to your pocket. What

is your pocket saying? Are you able to afford
a house at this point in your life? The entire

38
 OPE OF MIAMI, ACTUALLY

building process costs tens of millions—

from design, to approvals, to construction,
finishing, fittings, interior decorating,
maintenance. Are you ready? Even if it seems
you are ready today, will you still be ready
tomorrow? Inflation considered, will you still
be able to afford the building costs if any life-
changing event like a job loss happens?

While houses and landed property are assets,

they can quickly become liabilities to people
who did not count the complete cost before
embarking on the project. Many times, some of
these agents do not fully disclose the real costs
of the project before you make a down-payment.
You only see the tip of the iceberg without
understanding the full size of the iceberg. Or
even whether it is big enough to derail the ship
of your life.

I’m sure you don’t want to be one of those

people who put all their savings into beginning
the building project, but did not pass foundation
level. You also don’t want to be someone who
builds up to the lintel level then you are unable to
afford roofing or finishing. So your investments

39
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

are gone into the ground, literally, yet you don’t

have a habitable building, and will likely continue
to struggle to pay rent.

There’s no one-size-fits-all answer on buying or

renting a house. It’s up to you to decide based
on your financial situation, and long-term goals.
However, it’s never too early to plan.

You can never go wrong by planning ahead

for your long-term goals. Actually, is there any
other way?

Yesterday I changed my ‘House’ plan to ‘Miami’,

and I’ve decided that I’m going to save bit by bit,
slowly and steadily. And as you people hail me
‘Ope of Miami’, I will be motivated to top up my
savings plan as often as possible till I reach my
goal. Hail me please because the more my head
swells, the more my savings plan swells. There
you have it: Ope’s money theory. It only works
for me.

So, I will stick with the plan that works for me. I
will continue to rent my humble apartment until
I can get my ocean-view beach house in Miami.

40
Once again, it’s ‘Ope of Miami’, ‘Ope Miami’ for
short, or ‘Ope Pounds’, ‘Ope Dollars’. Whichever
works best for you; let’s be guided please.

Love,

Ope Dollars

41
Sometimes all we
need is a catalyst to
achieve our goals.
Ǔ Ope
 6
It’s a Goal!
rinse and repeat PHRASE
The predictable repetition of events

43
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O n some days, I wake up but want to stay in

bed. I throw the covers over my face and
call for my mummy because What is this adult
life? Sighs.

On such days, all I just want to do is adjust my

retirement plans to take effect immediately. Yet,
I have to wake up early, brush my teeth, grab a
quick breakfast and enter the Lagos grind. Then,
I nod my dozing head through the traffic or bob
it to the music playing on the radio as I struggle
to stay awake. A few hours later, I will be at my
desk, typing and typing love letters to you.

After a few taps, clicks, and swipes, I’d run to the

kitchen to take a break, have lunch, and then
get back to work. More taps and clicks, a few
meetings, and before you know it, I’m in a taxi
back home to begin the cycle again tomorrow.
Rinse and repeat.

I am not complaining, I really enjoy my job. Only

with this ‘rinse and repeat’ exercise, this routine
just got me thinking: How long would we live like
this? Wake up, go to work, come back. Not long,
honestly, it’s not sustainable. Because whether
or not you like your job, after a while, we all have

44
 IT’S A GOAL!

to retire, and our once busy schedules will wind

down. Even if we don’t want to stop working, our
bodies will gradually slow down…and force us to
press ‘stop’.

Are you prepared for that time? Do you have

retirement plans? Or your plan is to wing it?

I did a little research1 earlier about this because I

had to figure out why footballers and celebrities
go broke after retirement. I will share my findings
with you briefly.

We often hear not-so-good stories of former

football stars—many of whom we expect to be
doing much better than they currently are. They
truly lived a rich life, and now just get by with
whatever their hands find. Footballers earn a
lot at the peak of their careers, and retire earlier
than other jobs. Then what?

Rather than live in luxury, many struggle to make

ends meet.

Why?

1 https://cowrywise.com/blog/football-musicians-broke/

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Many footballers forget that the large sums

they make while in the game are meant to last
the rest of their lives, even more so because they
retire earlier than the average person. They
have to be even more strategic in planning their
finances for retirement.

You may not be a football star, or a musician, but

this affects you too. It affects everyone as time
waits for no man.

The big question you may have now is: How

much should I save for retirement?

The answer is not as simple and straightforward

as I would have loved it to be because there are
many factors to consider which are uncertain at
this time.

However, the most significant one is age. At

what age do you plan to retire?

Of course, things may not end up being this

way, but it would make it easier to set a target
and monitor your milestones and progress in
general.

46
 IT’S A GOAL!

The statutory retirement age for Nigerian public

sector workers is sixty years, or after thirty-five
years of unbroken active service. Outside of this,
you’re the decider of your retirement age. And
when that age comes, how much should you
have?

As a rule of thumb, I recommend having eight

times your annual pre-retirement income in
savings by age sixty. This number may seem
scary, but it doesn’t have to be, that is why we
have milestones which you can monitor along
the way.

Age Retirement savings factor

30 years 1x
35 years 2x
40 years 3x
45 years 4x
50 years 6x
55 years 7x
60 years 8x

Based on this rule of thumb: At age 30, if your

annual income is 5 million naira, you should have
saved at least 5 million naira in your retirement

47
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

fund. That is 1x your annual income. At age 40,

if your annual income is 10 million naira, you
should have at least 30 million naira in retirement
savings. That is 3 x your annual income. At age
50, if your annual income is 20 million naira, you
should have 120 million naira in savings. That is
6 x your annual income. At age 60, if your annual
income has increased to 30 million naira, you
should have 240 million naira in your retirement
fund if you want to maintain your pre-retirement
lifestyle.

It may seem like a lot of money to have saved by

that time, but that’s why you need to start now.
Whether or not you save towards it, retirement
will still come, so what do you plan to do? And
when it does, would you rather compromise on
your comfort and convenience because you can
no longer afford them?

Definitely not for me.

Retirement is a goal. It’s a long-term goal you

need to plan way ahead for.

This is something I think about almost everyday

when I’m stuck in the hustle and bustle of Lagos.

48
 IT’S A GOAL!

How long would it be like this? When the time

comes, where would we go from here?

Anyone that doesn’t have a retirement plan is

basically living on the edge.

If that’s you, bestie, you need to fix up, real quick.

Ope

49
Retirement is a long-
term goal you need to
plan way ahead for.
Ǔ Ope
 7
Like Pizza Slices
halal /hə’la:l/ ADJECTIVE
an Arabic word that means permissible:
Some non-muslims also invest in halal
funds

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Ithink you already know this, but I love my job.

I love what I do.

Even more specifically, I love my colleagues.

I promise, I do.

I’m going to say it again because the next few

paragraphs might make you think otherwise, so
I’m trying to get to you first.

I really love my colleagues.

I promise.

Now that is out of the way, let me tell you

something that happened at the office one
random day.

I was working on an article for the blog. I had

procrastinated on this article for the longest
time, so I decided that if I was able to get it done,
I’d reward myself with pizza in the evening.

As we all know, evening pizzas are the best.

52
 LIKE PIZZA SLICES

It has nothing to do with the fact that everyone

would have gone home by then and I wouldn’t
have to share with too many people.

The evening pizza reward was motivating

enough, so I got to work on the article and
finished writing it.

At about 5:30 p.m., after about an hour or so,

I was done. Yay! I shared it with Nonso to take
a look and help me create an illustration to go
with the post.

Then I stepped out of my office to the lounge and

down to the kitchen. Guess what I saw? People.

People everywhere!

Why is everybody still here? Aren’t you supposed

to be in your house so I can eat my pizza in
peace? Sigh. It was already getting late, and it
did not look like they were packing their bags.
Feranmi was even getting comfortable on the
couch in the lounge.

53
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Pizza plans in the mud.

Or maybe not…

I came up with a plan: to come clean.

“Who wants pizza?” I asked, my voice raised a

little.

“Me! Me! Me!” responded many excited voices

from every corner of the office.

That excitement didn’t last long. It was cut short

after my next statement. “Yay! Me too, so let’s
order.”

Not long, two other people were in on the pizza

plan too. Great! We pooled money together and
ordered seven boxes of different flavours.

When the pizza arrived, I ended up eating out of

the different flavours, even though I had ordered
BBQ Chicken for myself.

I was so excited because I got to try one of

the brand’s new limited-edition flavours that I
wouldn’t have ordered if it was just me. I could
not justify the price difference to myself. Why

54
 LIKE PIZZA SLICES

am I paying an extra 3000 naira for French

sausages?

Oh well, I tried it without buying a whole box.

And it tasted so good! As I narrated the joy of
experiencing all the pizzas at once to Feranmi,
my mouth still chewing hard on one, something
dawned on me: This is how mutual funds work.

You cannot afford to get a whole fund, so you

buy a piece of it, and still reap the benefits
attached.

Because pizza isn’t sold in slices, the pooled

money from your friends has to go to one person
who then orders the box of pizza. This person is
the fund manager. They determine what type of
pizza to buy based on the money put together,
and a few other factors.

There are different types of mutual funds to

choose from based on your risk appetite: how
much risk are you willing to bear? What is your
preferred investment duration?

Broadly speaking, there are five types of mutual

funds: equity funds, bond funds, money market
funds, balanced funds and halal funds.

55
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Hold on a minute. Don’t roll your eyes at me just

yet, I promise it’s simple. The major difference
between each fund is determined by what they
invest your money in. Let me walk you through
them, okay? Ready?

Equity funds—just as the name implies—are

invested in equity: stocks, or as some people
call them, company shares. They can be volatile,
but they are handled by professionals who have
access to more information than you do, and
have more experience.

Bond funds pool your money, with those of

others, in a basket of bonds. Bonds are a type
of fixed income instrument that pay investors
a fixed rate over a certain period of time. Even
further, there are halal bond funds, naira bond
funds and dollar bond funds.

Bond funds are rather unstable, because they

typically consist of different bonds, each having
varying maturity dates, but they are less risky
than equity funds, and have higher returns than
money market funds.

Stay with me here.

56
 LIKE PIZZA SLICES

Money market funds invest in market instruments

such as treasury bills and have short maturity
dates. Since they are also low risk, their returns
are usually lower in comparison to other types
of funds.

Balanced funds, as the name suggests, are

mutual funds that bring together various
instruments. For example, a fund can invest
40% of your money in equities/stock and 60% in
government bonds. What these funds try to do
is reduce your investment risk by diversification.
While this helps with lowering risk, you have no
control on how allocation across different asset
classes is done.

Halal funds, finally, are funds that invest in

halal-approved investments in accordance to
Islamic laws, from bonds to equities. As long
as they match halal standards, such funds can
be invested in them. In most cases, they invest
in (Sukuk) bonds, halal equities, or mix both. It
is a moderate-risk investment and has lower
management costs. However, there are limited
options and lesser diversification.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Feel free to read through that again, slowly, if

you need to. Trust me, it is pretty simple once
you get it.

In all, I just want you to understand that safe

investments will not give you billions in twenty-
four hours, but at least you’d sleep with your
two eyes closed. Invest in mutual funds, and
safe instruments from verifiable fund managers.
Cowrywise somebody?

Just as I said earlier in the book, even when

it comes to mutual funds, you have to stay
woke. If you join a group that @mobi_bitcoin_
invest_099324 sent to you on Instagram, and put
your money there, that’s the end. Stay vigilant.

Ugh, I got so carried away with teaching that I

forgot about my yummy pizza. I love my job, and
my colleagues, but food is where I draw the line.

I only remembered this story today because I

just finished my evening pizza. I’m the only one
left at the office now because everyone left
early to avoid traffic. Bliss!

58
 LIKE PIZZA SLICES

So, the next time you’re asked how mutual funds

work, your answer should be simple: like pizza
slices.

Use that, with a gentle nod, stare into thin air,

and add brief silence for dramatic effect before
explaining further.

Trust me, they would never look at you the same

way again. You’re smarter than most!

Happy showing off!

It suits you!

Love,

Ope

59
Invest in assets
you understand.
Ǔ Ope
 8
Commitment Issues
finfit fam NOUN
Short form for ‘financially fit family’. A
group of people who support one another to
meet their financial goals: Toju’s finfit fam
encouraged her to save more by tipping her
every time she met her savings goals

ORIGIN
Cowrywise.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Ihave been thinking about my increased love for

pizzas, my widening waistline and keeping up
with my gym commitment. How does a foodie
like me cancel carbs without canceling myself?
The spirit is willing but the flesh is weak and I am
stuck between the two of them. After tossing,
turning and staring at my blue gym shoes in the
corner of the room, I decided to do it. Whew!

“Ope, be a disciplined human being,” I told

myself as I looked in the mirror, a chubbier Ope
staring back at me.

My routine in the gym is usually warm-up, a

three-kilometre walk on the treadmill (or two
kilometres, if I am feeling lazy) or ride on the bike
that goes nowhere (not my favourite). And of
course, take 100 selfies to show off on WhatsApp
and Instagram stories (don’t judge me!).

While I was cooling down after the bike session,

I heard someone call me from across the room.

“Hi Ope! Long time no see.”

I turned around.

62
 COMMITMENT ISSUES

It was Tolu.

I only remember Tolu’s name right now as I write,

even though we had a full conversation then. Tolu
looked familiar, but at the time, I honestly could
not place the face. You know when someone
knows your name but you are clueless about
theirs so you resort to calling them generics like
‘dear’ or just say one long ‘hiiiiiiii’ or ‘heyyyyyy’,
while secretly hoping to somehow catch their
name. That’s what I had to do.

“Hey,” I smiled widely. But I am a terrible liar. My

face gave me away.

Tolu was the gym buddy I made the first day I

came here but apparently some people take
their fitness goals more seriously than others.

Some people really keep their new year

resolutions sha. Tolu looked so fit! I could tell the
obvious difference and it was so amazing to see
the journey Tolu was on.

“Only consistent effort and discipline can get

this kind of results, not my ‘one day on, three
months off’ routine,” I thought to myself.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Tolu and I caught up after the session and gisted

a bit before we called it a day.

You know, I’ve always appreciated the kind of

financial discipline that my Cowrywise savings
plans give me. But I want to start doing that with
my gym routines. Once I start a savings plan, I
have to stick with it for at least three months. No
stories! No time to check account balance!

If only I had a way of locking myself into a non-

stop three-month gym routine. The thought of
going to the gym for ninety straight days gives
me the chills, but I know that it is the right kind
of discipline. My real-life fitness score might be
close to zero, but my financial fitness score is off
the charts!!

At work today, I was having a conversation

with my People & Culture (HR) Lead. It started
off from career planning, then to marriage,
then life goals. You know all those five-minute
conversations that turn to two hours? Yes, just
like that.

One of the things he said stuck. “If you save

15% of your current salary for four years, you

64
 COMMITMENT ISSUES

would have enough money to self-sponsor your

masters or fund your wedding when you are
ready.”

Hmm. I never thought of it that way. Plus, 15%

seems like such an easy bit to put aside. Same
with fitness. It’s the tiny drops of water that make
an ocean. The small effort over time makes the
difference in the long run.

Think about it: If you earn, say 200,000 naira

monthly and you save 15% of that for four years,
you will have about 1.5 million naira, at the end
of four years. That is assuming your salary does
not increase o. And your increased salary should
naturally mean increased savings, not increased
spending. You are a smart person and village
people are not following you so I trust that you
will make the best financial decision.

It might look difficult, but if you explore Savings

Circles or joining a savings challenge, you will be
surprised to see how your money compounds
over a period of time, especially with friends and
accountability.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

You can even use part of the savings to make

low-risk investments like mutual funds, earning
some juicy returns during the process. Sounds
great, right? This applies to any long-term goals
you might have.

Compounding is gold. It is how financial fitness

is built—through slow and steady decisions to
commit and take action.

Stay financially fit, it is time to join the finfit fam.

Start by saving a small percentage of your salary
kept aside for a certain period of time. Build your
financial muscles; invest your saved funds. Trim
your pocket to get your dream goals by keeping
your eyes on the future your investments will get
you. Stay in tip-top shape, in the end, you will be
fit enough to take on the world.

Stay (financially) fit.

Love, Ope

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 9
Tiny Drops
fin goal NOUN
Abbreviation for ‘financial goal’. A definite
financial goal to be reached within a set
time: When Busola reached her fin goal,
she joined another savings circle

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W ere you raised by ‘traditional’ parents?

Those who kept reminding you of your
culture and language and telling you to never
get colonised? My mum was one.

She always reminded me to speak and write

in my mother tongue. Haha. In fact, I was so
good at speaking Yorùbá that I represented my
secondary school in a Yorùbá debate. We not
only came first, we also led the school that came
second by 33%. I scored 98% in my SSS3 mock
exams and till tomorrow I can’t explain how I
had a B2 in Yorùbá because everyone was sure I
would have an A1.

My mum taught us many slangs, idioms,

proverbs, and other cultural elements. In fact,
she made us buy a notebook for the sole purpose
of learning proverbs and their meanings. While I
don’t remember many of them again, a few have
stuck with me including this one: ‘Ìsun térétéré
níí dibú’ which translates to the English proverb
‘little drops of water make an ocean.’

You see, before I started my life as Ope from

Cowrywise, I had an idea of what savings
was. For instance, in secondary school, my

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 TINY DROPS

mum never gave us money for extras like class

hangouts, field trips and other activities. The first
time my sibling asked her for field-trip money,
her response was another proverb: ‘Aì kí fi ìka
méwèèwá jeun’ which translates to ‘you don’t
use all your fingers to eat’ or in this context: you
don’t spend all you earn.

“All the pocket money I give you, have you spent

it all?” She asked my sister who could not meet
her gaze.

“Then, there is no field trip for you.”

My sister could not counter her. Mother was

right: we should have been saving some of our
pocket money.

“You just imagine that I am your cash machine,

always here to dole out money. What if you need
money urgently and I am not here?”

My sister did not go for the field trip. And that

was how my mother used one stone to kill
two birds. The first bird: we got our lesson on
emergency funds. Of course, I did not know that
it was called ‘emergency funds’ at the time. That

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was how my mum’s pep talk inspired us to start

saving. The second bird: we actually started
saving. Of course, the best way to learn is by
doing. She not only taught us, we also began to
practise, we started saving.

The first thing I saved for was a new school bag.

I was using an old bag that made this clicking
noise when I dragged the zip.

It was what one of my colleagues today calls a

show of shame. I sometimes had to pull out all
my notebooks at once, after I got to class so that
my bag wouldn’t make noise when a teacher
was in class. Embarrassing, yes?

“A bag is a want, not a need,” my mum said when

I asked her about buying a new bag. That was
when I realised the bag was my baggage, to
carry alone, literally.

I started my journey out of this predicament by

saving 50 naira out of the 100 naira I took to
school every day. Don’t look at me like that. 100
naira had some value then. It could comfortably
buy you a loaf of bread and a bottle of drink.

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 TINY DROPS

This also meant that I had to deny myself

some goodies. It was not the best choice at the
moment as I watched other children stick their
lollipops in their mouths or listened to cracking
sounds as they opened biscuit nylons.

Every day, I saved in a kolo for two months. I also

added any extra income I made from helping
my classmates write their notes, draw diagrams
or any other task. Or whenever any uncle and
aunty came visiting and handed us some money
as gifts. The goal was to get a new bag and I was
fully focused on it.

My world paused the day I broke my kolo. It was

a sunny Saturday afternoon and the rays of the
sun peered through the curtain.

I locked the front door, and counted a lot of

50, 100 and 200 naira notes. By the time I was
done I had over 4, 000 naira. Straightening
out the money and arranging the notes in files
according to their denominations gave me pure
joy. At the end of the exercise, I realised that
saving at least fifty naira consistently for over
sixty days paid off.

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Not only did I buy a new bag, with leather straps,

a shining zip and a back-pocket, I also got a
wristwatch and a new story book.

You can imagine my joy, and my classmates’

surprise, when I strolled into the class beaming
with pride and confidence the following Monday.
I was ecstatic. People started whispering, and
everyone wanted to touch my bag.

At that moment, I understood the power of

saving. I enjoyed the reward of stacking money
somewhere solely to achieve a goal.

Why should we save? Whether it is your house

rent, your new MacBook, an evening pizza treat
or a trip to Dubai, a unifying factor to saving for
a project is the satisfaction that comes when
you hit your target.

According to the American Psychology

Association, the body secretes a hormone called
dopamine, which is also the excitement hormone,
after you hit a major financial milestone, and
this can be achieved through savings.

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 TINY DROPS

So, you really want to start saving but are not

quite sure of how to start? Here are some hacks
that have helped me crack my savings goals.

First hack: I try to create a perfect picture of

why I am saving. Either it is for a new phone
whose picture is already in my gallery or a new
shoe, I always create a vivid picture of why I am
saving and what I want to achieve with it. I try to
imagine how what I will be able to achieve with
the ‘goal’ will change my life. For instance, with
a new phone, I am likely able to take more high
quality pictures which will make my work easier.

Second hack: I make sure I do not have access

to the funds. If you save through an avenue
that you can easily access, you will always find
a reason to dip your hands into the funds. For
instance, if I could easily open my kolo, I would
never have bought that school bag. Cowrywise
has locked savings plans which are my favourite
kind of savings. Kolo or a locked plan, it is very
important to ensure that access to the funds is
hard.

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Third hack: Have an emergency plan. You

might wonder how having emergency savings
correlates with saving for a project, but when
you have an emergency plan, you don’t think
about dipping your hands into your savings. You
get it?

Setting money aside takes a lot of discipline but

it comes with exciting rewards. If you’ve saved
up recently for something exciting, I’m sure you’d
get what I mean.

You are likely nodding in agreement, and that’s

enough for me.

You have seen how tiny drops become an ocean

that not only quenches your thirst but gives you
pure joy!

Yours in savings,

Ope

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 10
It’s Not You, It’s Me
it’s not you, it’s me CLAUSE
A popular breakup line used to prepare
the person to be dumped in a relationship.
It means that there is nothing wrong with
them and all the faults are with the person
who wants to end the relationship: When
he said the words, ‘it is not you, it is me’, I
knew the end was near

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O ne of the things I promised at the beginning

of this book was to be honest and real with
you. No lies, no disguise. And I keep my word. If
not for that, there are some stories I’d rather not
tell anyone, honestly. I’d keep them to myself
because they are so embarrassing, especially
now when I look back.

On the positive side, this is why I am writing this

book: so you do not make the same mistakes I
made. One of these embarrassing stories is that
of my first investment ever. There is no time I
remember the whole incident that I don’t beat
myself up, because frankly, it was a lot.

Years ago, at a time I didn’t know what it meant

to invest. I had just started reading widely about
money, and learning more about personal
finance. The day I read about compound
interest, my mind was blown.

“What? You mean this is how it worked and no

one ever told me about it? Wow!” I felt like the
whole world was cheating me, honestly. It was
as if everyone connived to hoard this knowledge
from me all this while. Now, the cat was out of
the bag.

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 IT’S NOT YOU, IT’S ME

I read and read and read, then I went on to watch

some Youtube videos.

My head was boiling with investment knowledge:

types, benefits, disadvantages, risks, and all
that. I wanted an investment so badly. The
knowledge was so overwhelming, and it was as
though I needed to start investing immediately.

It felt like every minute of my life I spent not

investing was a wasted minute. Every single
dime that I did not invest felt like a loss.

Around this same time, I was expecting my

allowance. The moment I got the alert, I opened
my notepad where I wrote down my ‘investment
plans’ and got to work.

As clueless as I was, nothing could shake my

confidence that day.

I invested 90% of the money in stocks, which are

volatile, and remarkably high-risk considering
my lack of experience and knowledge at
the time. I’m not exactly sure what gave me
the confidence to do what I did, but I smiled
sheepishly to bed that night with only 10% of my
allowance left in my bank account. I had no idea

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how I would survive the entire month. I would

likely change my feeding pattern to 0-1-0, or
something like that.

I woke up the next day, still ecstatic from the

previous day, checked my bank account balance,
and it didn’t smile back at me. To console myself,
I went to check my investment quickly, it was still
there, thankfully.

But then, it had not increased.

“Ope calm down. It’s not even twenty-four hours

yet.” I told myself.

So I calmed down until the next day, and checked

again. I did this, the next day, and the day after.
I saw that my money had reduced. What could
be happening to this investment thing? It kept
going down in negligible amounts, daily.

By the time I checked the next few days, I could

not recognise my money again. There was no
way anyone could tell me what I was seeing
there was my money. I knew how much I invested.
How could I see this figure here?

78
 IT’S NOT YOU, IT’S ME

Tears filled my eyes. I couldn’t withdraw my

money because it was locked in for a set time,
and it didn’t make sense for me to withdraw
because I was already at a loss. I was sweating
profusely.

I waited for a full six months before I withdrew

the money. During this period, I acted like the
money was completely lost, so I hardly checked
it. I didn’t want to get heartbroken again.

At the end of the six-month period, surprisingly,

or not, the investment had accumulated some
returns. I did not want to take chances or push
my luck anymore, so I backed out and took my
money back.

Looking back, it’s really embarrassing that I

was sweating over a six-month investment,
and making uninformed guesses about what to
invest in. That was Ope 1.0.

Enter Ope 2.0—the upgraded, financially

educated version of me. Years later, I realised
that I was the one pushing beyond my limits
then. When I learned about investor types, and

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risk assessment, I discovered that the issue was

not the investment. It was with me.

“It is me, not you,” I told my investments as I

ended our relationship that year.

Investments will not give me high blood

pressure. They should not give you too. So, this
is how to avoid investment-induced high blood
pressure: it is not enough for you to know about
investments; you need to know what kind of
investor you are. This will help you determine
what kind of investment you should put your
money in. There are three types of investors
based on their risk appetite: conservative,
moderate and aggressive.

Conservative investors are those who are willing

to take little to no risks with their capital. The
priority for low-risk investors is to preserve their
capital regardless of potential returns. That’s
why they go after low-risk investment offers.
Also, the investments are usually liquid, meaning
that you can collect your money anytime you
want.

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 IT’S NOT YOU, IT’S ME

If you’re a beginner investor, you’d most likely

fall into this category.

The investors who can endure moderate risk are

simply more confident than low-risk investors.
They are open to taking considerable risks with
their capital. However, they are also careful to
ensure that while their capital may be affected,
it does not result in very high losses.

Medium-risk investments like balanced mutual

funds and dollar funds are invested in a mix of
high-risk and low-risk financial instruments—
stocks, bonds and treasury bills (money market).
This helps to balance the high risk with some
low-risk ones, reducing the chances of losing
capital, unlike the high-risk investments.

Finally, we have aggressive investors. They are

high-risk takers and are willing to part with their
capital, should it get to that. They are not in a
hurry to cash out on their investment. They are
not like Ope 1.0, always checking for updates,
always ready to take out her investments at
the slightest glitch. These ones don’t just enter
the investment pool with their legs, they throw

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their whole bodies into it, conscious of the fact

that they may sink but they have a good swim
anyway. Sometimes, they not only swim, they
also win medals for it.

With high-risk investments, you can lose invested

capital if the investment expectations are not
met. Usually, these investments are like equity
mutual funds that are invested in stocks of
selected companies. We have a couple of them
on the Cowrywise app and they are managed
by fund managers licensed by the SEC.

Back then, I wondered why anyone would want

to do high-risk when they could play it safe. Well,
with investment, the higher your risk, the higher
your chance of more returns over time. All is fair
in love and war, right?

If you’re wondering which category you likely

fall into, you don’t have to do all the brain work.
Cowrywise has a risk assessment tool that has
been saving lives since the 19th century. The tool
allows you to know what type of investor you are
at every point in time. Once you take this quiz,
you will be classified as either a conservative,
moderate or aggressive investor.

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 IT’S NOT YOU, IT’S ME

To make it even more convenient for you,

different mutual funds that match your risk
profile are automatically recommended and
you can begin investing immediately. Honestly,
this is the best way to avoid stories that touch,
or ‘it was me, not you’ stories. Don’t set yourself
up for avoidable problems and sleepless nights.

The tool also helped me upgrade from Ope 1.0 to

Ope 2.0. I now know my boundaries and invest
according to my energy and with peace of mind.

Take a risk assessment test2, know your appetite.

Don’t bite off more than you can chew.

Love,

Ope

83
 11
Man Proposes,
Emergency Disposes
emergency NOUN (Nigerian meaning)
An unexpected event that dismantles all your
plans, throwing them into the poteaux poteaux
of life A K A life happens: The pandemic set off
the world’s emergency sirens

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W hen you hear the word ‘emergency,’ what

comes to mind?

For me, it’s always an ambulance or sirens.

When I hear ‘there is an emergency’, I think of
ambulances trying to get past Lagos traffic,
sirens blaring.

But then, things changed in 2020. That year that

‘changed it’ for everybody. At the beginning of
2020, I made plans and wrote them down,
thinking that was how my year would go. The
pandemic happened and before we all knew it,
the world changed right in front of us. I realised
that sometimes, even when you plan, a single
emergency happens and you watch your plans
fall apart like a pack of cards.

This became real in 2020. As if on cue, halfway

through the year, many people started to tweet
about losing their jobs. Unemployment became
another pandemic for the world to deal with.
Many organisations could not work in the first
few months of the lockdown, and as a result,
they could not make money. That was a major
problem because they had to keep paying

86
 MAN PROPOSES, EMERGENCY DISPOSES

salaries. As hard as it was on my friends who lost

their jobs, I could also understand why those
decisions were made.

Meanwhile, the pandemic did not look like it

was going to end anytime soon. The number
of confirmed cases and death toll increased all
over the world. It was a lot. Yet, I know companies
that did not sack any employee but slashed
salaries in half to keep up with salary payment.

Just with every other thing in life, it did not get

personal for me until Shola, a good friend, called
and said that he had just lost his job. He was
unlucky to have been laid off by his company.
I was broken. I made calls, trying to see if there
was anything I could do with my network,
but hardly any companies were recruiting at
the time. It was in the middle of a pandemic
and global economic recession, the last thing
companies were looking for were new hires. So
my friend was stranded on the cold streets of
unemployment.

“Ope, I want to use about 80% of my savings to

buy a laptop now. All this while I had been using

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

the office laptop and I don’t have that anymore.

My productivity has declined; I need a new
laptop.”

That was when I truly understood how brutal

Shola’s unemployment was. He took about
ƚ RXW RI KLV ƚ VDYLQJV WR
get a laptop. Before we knew it, the balance
disappeared. You know how money behaves like
it has wings right? You withdraw 1,000 naira, you
MXVWVSHQWƚRXWRILW%HIRUH\RXNQRZLWWKH
UHPDLQLQJ ƚ KDV GLVDSSHDUHG7KDWƆV ZKDW
happened.

Shola was unemployed for about two months.

During those two months, it was hard on him. It
was hard on his family. And it was even harder
on us his friends. We wanted to help, and we did,
but it got to the point that we could not anymore.
We were also trying to get our lives together in
the lockdown. Some of us were receiving half-
salaries already. So it was intense, really.

When Shola finally got a new job paying twice

his former salary, I was super happy. Finally, our
friend was out of the mud. Two months being

88
 MAN PROPOSES, EMERGENCY DISPOSES

jobless in Lagos is not easy. All his savings dried

up and he was in debt already. It was that hard.

Shola’s story got me thinking about life and

about how sometimes, we make plans and our
plans fail us. Shola was not alone. He was part
of a trend during the pandemic. People lost their
jobs and their lives technically came to a stop.
Life happens, we know. What is life, if it is not a
potpourri of daily surprises?

So, how can we prepare for these emergencies?

6KROD KDG ƚ LQ VDYLQJV EHIRUH WKH

pandemic, but it was all gone in less than a
month. Is there a way Shola could have known
this was going to happen? No. If there was, then
it would no longer be an emergency. But is there
a way Shola could have prepared better for the
unexpected? Absolutely.

Immediately he got a new job, the first thing I did

was sit with him and walk him through creating
an emergency plan on Cowrywise to prepare
for the unexpected. An emergency fund is a pool
of money you set aside specifically to cover the

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financial surprises life may decide to throw your

way. Though an emergency fund may not solve
all your problems, it prevents you from getting
stranded when life hits hard. And life knows how
to hit hard, giving unexpected upper cuts but
your emergency fund is your boxing headgear.
Life will hit but it will not blow out your face.

Emergency funds are the umbrella that protect

you from the storms of life, your security during
the rainy days. Trust me, the days will come but
you do not have to be soaked to your skin. When
they come, with emergency funds in place, you
may just feel the breeze, which may be soothing.
You will not be caught running helter-skelter,
from one friend to the next, from one loan app to
the next, looking for shelter.

An emergency fund also gives you some

freedom to make certain decisions without being
handicapped by the financial implications.
Keeping this money separate from the money
you use to pay bills or achieve other financial
goals can help you resist the urge to spend it on
other things.

90
 MAN PROPOSES, EMERGENCY DISPOSES

Sometimes when you see a big number in

your bank account, you get a little too quick
to purchase things you really do not need. So,
keeping this money separate can help you avoid
temptation. You get me, right?

If Shola had a robust emergency fund, worry

won’t knock the door. Although he had his
savings, for Shola, it was not sufficient.

So, how can you know exactly what you need to

be in your emergency fund?

The Cowrywise app can help you calculate how

much money should be in your emergency fund
by telling us something about your monthly
expenses. We use this information to recommend
an emergency plan that works for you. This was
another useful tool that helped me upgrade to
Ope 2.0.

Generally, we recommend that you target six

times your monthly expenses. For example,
LI 6KROD VSHQGV ƚ HYHU\ PRQWK
including the monthly house rent expenses,
the recommended emergency fund target is
ƚ

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

$V \RX VDZ ƚ ZDVQƆW HQRXJK DV WKLV

ZRXOGPHDQOLYLQJRQƚHYHU\PRQWK6HH
where the problem is?

You’re probably wondering: where will I find six

times of my monthly expenses to put aside now?

It does not have to be a bulk sum. To build up

your emergency fund, we suggest you save
between 10% and 20% of your monthly income.
You would also see how long it will take to get
your emergency fund 100% complete. It can be
a lot, I know. But I don’t want what happened to
Shola to happen to you.

The best time to create an emergency plan was

years ago. The next best time is now.

You don’t plan for war when it has begun. You

plan in the time of peace. Now is the time.

I’m rooting for you.

Love, Ope

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 12
Fifteen Shoes
goody two-shoes NOUN
Someone who acts in an honest way,
almost every time, even making other
people feel inadequate sometimes: Dami
played goody two-shoes with her money,
she gave it all out

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

A few years ago, I went to a store to get new

shoes. My budget was 10, 000 naira for
these shoes, and I wasn’t going to budge. But
then, I entered the boutique, and it seemed as
though all the shoes were made for me.

They were all calling my name. I looked under

them and instead of seeing the name of the
brand, it was ‘OPE’ that was written there. I
exaggerate but you get what I am talking about.
It’s not every time you enter a place and feel like
you were made for this…born for this moment.
But, that’s how I felt when I entered the boutique.

“Ope pick me!”

“Ope pick me, please.”

“Ope from Cowrywise, pick me! Spend this

money,” one of them even shouted.

The moment they mentioned my full name like

that, I knew there was no turning back. That
moment when you are about to do something
you know you’ll regret, but you just can’t turn
back? Actually, you can; but you just choose not
to, speaking from experience.

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 FIFTEEN SHOES

At that point, I could have just walked out of the

boutique. I could have just pointed to the only
shoe I came to get and move on. But I did not.
I stood there, like a statue, as if they glued my
feet to the floor.

Then, I sat, put my leg down and started trying

out shoes.

‘You do not pay for trying the shoes on,’ the shop
assistant said, smiling.

Before I knew what was happening, I had already

tried on more than ten shoes. I was trying out
the fifteenth one when the financial guru in me
pinched me.

“Please, can I have just that brown one? Yeah…

the first one I tried on,” I said quickly, squeezing
my face so that the shoes will get the message
and just stop calling me.

At this point, I was no longer laughing or smiling.

Serious mode activated.

“Ah customer, is it just this one you will buy from

me? See all the fine fine shoes that fit you…You
should take this other brown one too. So that

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the one you buy does not spoil easily.” That was
when I knew it was over.

We went back and forth for a minute or two, and

before I knew it, I was leaving the boutique with
three pairs of shoes instead of one.

Financial guru in the mud.

That was the last time I visited that store.

Anytime I passed by it, I walked faster. On some
days, when I knew I would pass that area, I went
without my ATM.

“No harm in admiring a good thing.” I told myself.

I realised that saving was not the only way to

save; spending less is also a way to save. One
way not to spend too much is by not playing
Goody two-shoes with your money.

Whenever I go to physical stores these days—

which I hardly do, thanks to online shopping!—I
head straight for what I want and look away.
Because I know it only takes one look, and
before you know it, you’ve already tried on
fifteen shoes.

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 FIFTEEN SHOES

It was not that easy at first, but with time it

became second nature for me.

To be honest, there are many bad money habits

that we exhibit every single day. One of them is
not preparing for an emergency. It is one reason
why people drag my beautiful name on the
streets of Twitter.

“Ope, something came up.”

“It’s an emergency.”

They keep saying I didn’t allow them to withdraw

their funds. Meanwhile, they should separate
emergency funds from core savings plans. See,
it is for people like these—and dear reader, if
you are one of them, I am giving you the side
eye—that Cowrywise created an emergency
fund feature. Just save for an emergency, earn
returns and withdraw when the need arises.
Please stop shouting my name on Twitter.

Waiting until you have more money before you

save and invest is another bad habit. That was
Ope 1.0. Sometimes what we need is discipline,
not more money. Well, discipline and more
money.

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Perhaps the most annoying of them all is

hoarding money. You are actually making money
and doing well, but you don’t want to spend
anything on yourself or give to people because
you don’t want the money in your account to
reduce. Hoarding money is like hiding your light
under the bushel, like folding your money into
your bra or wrapper edges or hiding it under
the carpet. Hoarding money will not make you
richer. It does not multiply wealth, it depletes it.
This is a flawed desperate mentality, fam. And
you are smarter than that.

So, how do you kill these habits?

Change your mentality. Repeat after me: “I am

rich. I drip wealth. Money does not control me, I
control what I do with money.”

Be a giver. Create a budget for it though.

Set money aside for leisure. Since problem nor

dey finish, try to enjoy life small. You are not a
suffer-head.

Habits die hard, yo. But the beauty of it is that

it takes an average of sixty-six days to build a

98
 FIFTEEN SHOES

new habit. That includes bad money habits too.

So, we can always build new and healthy money
habits. The earlier you start, the better.

Rooting for you, always.

Love,

Ope

99
Setting money aside
consistently takes
discipline but it comes
with a lot of rewards.
Ǔ Ope
 13
Someone is Spending
my Money
spending NOUN
similar to the verb ‘to spend’ only that it
refers to a person who is known for always
blowing money without caution. Usually
used as a hailing, it is the Nigerian version
of a spendthrift without the negative
connotations: Spending, show us the way

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

O ne day, one of my friends, Tito, randomly

interrupted our discussion and asked: Ope,
how do you know your village people are after
you?

I paused for a second because I didn’t see that

coming.

I was not sure what to say, so I asked for context

first, and I got a whole story that went like this:

“Months ago, after a performance review, my

salary was increased,” Tito started.

“Frankly, I was not expecting it. I mean, more

never hurts, but I was doing fine with my old
salary, so I was sure that I would enjoy my flex
life with extra money to save after deducting my
automated savings,” she continued.

“So how come everything still feels normal? Who

is spending my money behind my back? I mean,
I was still cool with my old salary, but now that I
earn way more, I can’t see the effect of that extra
amount.” I could sense the seriousness in her
voice now, so I dropped the Rubik’s cube I was
fidgeting with, and gave her my full attention.
Our chat went something like this:

102
 SOMEONE IS SPENDING MY MONEY

Tito: I can’t find my extra salary.

Me: What do you mean ‘you can’t find your extra

salary?’ What does that even mean?

Tito: This is not a joke. I have been earning more

since the last performance review, but it seems
as if the money is the same. I think somebody
is using a straw to sip my salary before it even
touches my mouth. Argh.

Me: Nobody is spending your money, Tito. Your

expenses have likely increased to fit your new
income.

Tito: Which expenses? Don’t give me that one o.

Me: Have you heard of Parkinson’s Law?

Tito: No, Ope. I don’t know any law.

Me: Parkinson’s law states that ‘work expands to

fill the time available for its completion.’

Tito: Meaning?

Me: Meaning the more money you make, the

more expenses you tend to have. You may not
notice it, but your expenses have increased. You

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

were on flex mode before, but now you’re on

flex pro max, Tito. If anyone is punishing you, it’s
not your village people. It’s you and Parkinson
spending your new salary.

Tito: I…I…

Me: Parkinson’s law always catches up with us if

we are not careful. You’d just realise that you are
earning more, but still, it does not look like it. It
just looks like the same old income. The best way
to make sure you are not a victim is to create a
wedge between your expenses and your new
salary.

Tito: How?

Me: There are many ways. One way is to make

sure you have an automated savings plan
so whenever your salary comes in, a certain
amount is deducted and tucked away safely in
your savings.

Tito: I have savings, Ope, you made sure of that.

Me: I know, but did you increase your savings

when your salary increased?

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 SOMEONE IS SPENDING MY MONEY

Tito: No

Me: That’s where the problem lies. Your savings

and investments are the wedge between you and
poverty. If you don’t put in a savings structure
and invest more, you’ll just notice that all your
money disappears right before your own eyes.
The more you earn, the more you spend; that’s
Parkinson’s law. But Tito’s law should be: The
more you earn, the more you save and invest.
That way, Parkinson and all your enemies have
nothing on you.

Tito: Tito’s law…I like the sound of that

Me: So, just increase the monthly deduction for

your savings plan. You can also buy one more
mutual fund or buy more units. What do you
think?

Tito: I think I’ll do just that, Ope.

Me: Good. In the meantime, send me your

Cowrywise username. Let me stash you
something.

Tito: Awwwn…! Thank you. Let me run to my app

now before Parkinson and his law finds me.

105
Setting money aside
consistently takes
discipline but it comes
with a lot of rewards.
Ǔ Ope
 14
Here’s a Magic Trick
compound interest NOUN
This is the interest received based on
both the initial deposit and interests
accumulated over a period of time: The
compound interest Zainab received from
her investment was enough to buy a small
gift for herself

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

N ow and then, I see tweets of people asking

who Ope is. Some even stalk my tweets,
waiting to see if I will give myself away.

Anytime I post pictures I take with my colleagues,

there is always that one person waiting to fish
me out so they can kidnap me because I did not
release their money before the due date. Always
‘on the run’.

Recently, I got an email from someone who just

got their money. Their three-month savings plan
just matured, so they sent a heartwarming email
that went like this:

Mail

Thank you Ope.

After begging you to release my funds earlier

than planned, you eventually released it after my
three months elapsed. Let me go and buy my
phone now.

I wanted to send you something for the weekend

but you’re still hiding your face. And I checked
the ‘about page' on cowrywise.com, you’re not
even there.

Anyway sha, thank you.

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 HERE’S A MAGIC TRICK

I was blushing! Frankly, I’m always low-key

scared when people say they are looking for me.
Most times, it’s always because of some crime I
did not commit.

It’s not every day you find someone who just

wants to stash you for the weekend and even
went to our ‘about page’ to look for me. Of
course, I’m not there, duh. I mean, that would
defeat the idea of anonymity, right?

But do you know who you’ll see? Feyi!

It’s almost hard to recognise the picture

attached to Feyi’s name as the Feyi that comes
to the office every other day. If you see Feyi now,
he is so built, muscles everywhere, Hulk Hogan.

Okay, a brief history lesson.

Feyi joined Cowrywise in 2017, and then, he

was a cool guy but with strands for a beard. No
muscles to flex. The picture I am looking at now
is that of Feyi years ago.

If you see Feyi now, you’d wonder if he spends

more time writing code or working out. Sometime
ago, I was having trouble going to the gym. I had

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

an active gym subscription but I wasn’t using it.

So, I sent a message to Feyi and asked him to
rescue me.

“Let’s talk over lunch. I’ll be in the office today,”

he said.

It was a Tuesday. Our food vendor brought yam

and fried eggs, basmati rice with turkey, and
pasta. So the moment Festus announced “food
is here,” I went to the kitchen and took a plate of
yam and fried eggs.

Feyi came in much later, wearing blue jeans and

a navy blue Cowrywise shirt, on it was written: ‘If
you’re seeing this, save.’

“Feyi, I think my body is not compatible with the

gym,” I said.

He laughed. “Ope, what does that even mean?”

“I mean, look at you now. The you that joined

Cowrywise years ago did not look like this o
Feyi. What are you doing right, and what am I
doing wrong?”

“Patience and community,” he said.

110
“Aspire to perspire.”

“But really, Ope. When did you start gyming?”

“Err…some months ago?”

“Do you go every day?”

“No.”

“Do you go every week?”

“Yes! I go to that place at least once a week.

Well, I did miss a week or two last month sha. My
body needed some relaxation.”

“Ope, I know you’re a financial guru so…”

“You can say that again, Feyi.”

“Stop feeling yourself abeg. Anyway, you know

finance so you understand how compound
returns work, right? You remember the story of
Onome who started saving money for retirement
at age twenty? He has put in 500,000 naira per
year at 10 percent annual interest rate in his
Cowrywise Long-term Savings Plan. In twenty
years, Onome’s investment balance would be
ƚPLOOLRQƉ

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

“What kind of question is that, Feyi? I wrote

the post you’re talking about. Is it because I’m
asking you for gym hacks now that you’re trying
to shade me?”

Feyi laughed. “No now. See, exercise is just like

saving. You have to keep building on what you
have. You know if you open a retirement plan
now and you start saving up every month at a
certain interest rate, the moment you reach the
end of your first month and decide to continue
saving, you’ve activated the power of compound
returns.”

“I get what you’re saying, Feyi. It means I am no

longer getting interest on the first amount I put
in my savings, but I am now getting interest on
my first amount, plus interest I got from the first
amount.”

“You know your onions, Ope. The power behind

compound interest and its magic is time
multiplied by interest rate. This is why starting
savings/investment early and getting a modest
interest rate on your savings and investments
matter a lot. The longer you invest your savings,

112
 HERE’S A MAGIC TRICK

the more it can grow in value due to compound

interest.”

“Why are you quoting me to me, Feyi?”

“Because this is how it works in the gym. Same

way you can’t cash out on the beauty of
compound returns if you don’t save for a long
time, you also cannot cash out on your exercise
if you don’t do it for long.”

“What do you mean for long? Feyi, see I cannot

spend four hours in the gym, please. If it is that
one, then let me be living my ‘fitless’ life. That’s
how somebody will be carrying weight, and one
of the people looking for me on Twitter will find
me.”

“No now, Ope, I don’t mean spending long

hours in the gym. I mean going on a personal
fitness journey for a long period. Let’s go back
to finance, you know the longer time you spend
saving, the more magic compound interest can
work for you, right?”

“Yes.”

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

“Same here. If you exercise for a month, you

may not see obvious results. But why not go on
a six-month journey or one year of going to the
gym just thrice a week? You’ll see the results, I
promise.”

“Hmmm, it’s funny how I always advise people

to save for long but I never thought the same
worked for the gym. So it’s not just about going
to the gym, it is about going consistently for
a long period, say three or six months, even a
year.”

“Yes, Ope. That’s how it works. You too look at

me now.”

I looked at Feyi with a sneer on my face. He was

doing some dance around the kitchen, flexing
his muscles, touching his beard, feeling cool
with himself. “What you’re looking at, Ope, is
the result of going to the gym three times every
single week for more than a year.”

“So that old picture of you is like the first capital

you saved or invested and then with the returns
on your first capital, you saved or invested

114
again and now this is like what the magic of
compounding has got you?”

“Yes, our financial guru. I know the only way

you’ll understand this thing is if I use compound
interest to explain.”

I get it now. Frankly, compound return is one

of my best financial concepts. I like how you
can actually build a lot with just patience and
consistency.

I really understand now that gyming is not juju.

Feyi really put in the work. Going back to the
gym each day, building on the past day’s work.
The trick is to never stop going.

Doing it gradually every day works better than

doing it all at once. And that’s just how compound
interest works; your interest keeps compounding,
WKDWƆVZK\\RXFDQKDYHƚQRZDQGZLWK
compound interest, have millions from the saved
ƚZKHQUHWLUHPHQWNQRFNV

Talk soon.

Ope

115
 15
She Swallowed a
Razor Blade?
black tax NOUN
Financial obligations that many Africans
have to other family members, usually
beyond their immediate families:
Sometimes, black tax can make financial
prosperity difficult to achieve

ORIGIN
South Africa.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

H ave you ever opened your family WhatsApp

chat only to find a very ridiculous message?
Something like this:

Broda Kasimu
Good evening, everyone, and
happy weekend. How are we
all doing? Hope we all enjoyed
our week? Please, we need
to come together as a family
again. Aunty Kudi swallowed
a razor blade, and she needs
N2,000,000 for her surgery.
Please let us come together
to support her. So please, Ope,
Dami, all of you, please let
us kindly donate any amount
we can towards helping Kudi.
Please send your token to Kudi's
account number…

5:45 AM

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 SHE SWALLOWED A RAZOR BLADE?

And you’re wondering…How? Was the razor

blade hiding in her sandwich? Who put it there?
Or did she look at the razor blade and think it
looked like cheese? How does a grown woman
swallow a razor blade?

But then, you don’t want to be that family

member who is questioning the ‘genuine’ need
of someone, who by the way, carried you as a
baby.

I’m sure I’m not the only one that can relate to
issues like this. So when I ask ‘Has your aunty
ever swallowed a razor before?’ That’s what I
mean.

Living a good money life in an African family can

be tricky. If you’re not careful, all your savings
and investment plans can be in the mud before
you can say anything.

There are times when I have said no to such

requests because I had exceeded my black tax
budget for the month.

The truth is, black tax is not exactly bad, and

the African saying that goes, ‘It takes a village

119
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

to raise a child’ is mostly true. I remember a

couple of people in my family who contributed
financially to where I am today. Before I became
the Ope of Cowrywise, I was their Ope.

But then, does this mean I should give in to black

tax carelessly? See, that’s just an invitation
to poverty, because the requests never end. I
remember talking to a member of our customer
experience team about black tax. She mentioned
to me that she pays black tax, but it is not a
burden on her.

“It all boils down to planning,” she said.

Black tax has a silver lining. It can help your

younger siblings and other relatives climb up the
ladder of progress and get to a position where
they can now support themselves and other
family members. I’m not trying to eradicate black
tax. I am trying to show you how to navigate
black tax before it becomes a burden.

First, when you are unable to take care of your

necessities because you are too busy helping
others, a line needs to be drawn. And that line

120
 SHE SWALLOWED A RAZOR BLADE?

comes with planning. I always tell Twitter people

to plan, save and invest so that nobody will come
crying to me if aunty swallows razor. You cannot
even find me. However, I need to emphasise
more on the ‘planning’ aspect of that advice.

Here’s how I deal with black tax: I dedicate a

percentage of my monthly income to family
charity. I don’t call it black tax because that
sounds like I am under compulsion, when in truth,
I am not—at least not directly.

Although there are some months when the

money is not enough, and they are asking for
more, I try really hard to stick to my plan.

My locked savings plan on Cowrywise helps

me with this. I know that if I take out of my own
money dedicated for personal expenditure
to do charity, I wouldn’t have anything else to
fall back to. My savings are locked, and I can’t
unlock them.

So when my village people keep asking for

money after I have already sent them all the
money dedicated to family charity, I simply

121
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

say no. Sometimes I make sacrifices, but that’s

based on my discretion—when I am feeling
generous or I just cannot carry my face.

“I wish I could help right now, but I already

sent all I have right now,” I would reply in such
circumstances.

It’s not easy because sometimes I genuinely

want to help. Other times, I am just pissed that
they always ask for money. Aargh, I also need to
relax and be taken care of…not every time Ope
that takes care of the problems of the whole
world. But I try to keep calm, maintain beauty
and stick with my plan.

So what will happen if aunty swallows razor

tomorrow? I will take out of my family charity
money and give it to her, and hopefully, it will be
enough.

It’s not always black and white, really, but what

I always try to keep in mind is this: if I don’t plan
how I send money for family charity or black
tax, I will either end up being that bitter relative
that does not send anything or be that angry

122
 SHE SWALLOWED A RAZOR BLADE?

Nigerian that has given all their money to black

tax and now they don’t have anything else.

Neither of those options is favourable to me, so I

keep this at the back of my mind, and I follow the
first word of Cowrywise’s motto: Plan.

Ope

123
 16
The Good Life
chop life gang NOUN |Slang| (NigEn)
A term associated with people who like
the good things of life: This life is one, so I
belong to the chop life gang

ORIGIN
Nigeria.

125
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

W ait! This might sound weird, but it’s a

thing, I promise.

Have you ever been in a situation where saving

too much becomes the problem?

I mean, the issue was not that you didn’t save;

your problem started just because you saved all
your money.

A friend of mine came to me with a similar

situation.

Someone had shared an inspiring article of a

tech bro who worked remotely for a company
abroad, and earned about $7,000 per month, a
whopping eight-figure salary in naira annually.

But guess what? His monthly spend was about

ƚ

When my friend told me about the interview, I

was impressed too. My friend kept wondering
how this tech bro could manage life like that.
Even though by his earnings, he belonged to the
chop life gang, our tech bro spent less than 10%
of his salary and saved 90%.

126
 THE GOOD LIFE

“Yo, if that man can do it, who are you not to do

it?” My friend gingered himself, forgetting that
everyone’s financial journey is unique.

That was the beginning of his peril. Immediately,

he opened a new Long-term Savings plan on
his app, named it ‘The Good Life’, and locked
it for two years while waiting patiently for his
next salary. Immediately he got the credit alert,
he topped up the savings plan with 90% of his
salary. 90% of his salary!

It was all fun and games until it was just the

fourth day of the month. He realised he only had
transport fare for two days left. That was when it
hit him and he reached out to me. He confessed
what he had done. I would have screamed if we
were not in a public place.

It put me in a weird position, because my work

is hinged on encouraging people to save and
invest more. I never knew that the day would
come when I would be encouraging someone to
save less.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

It became a pretty easy discussion because

I remembered there was a rule I could make
reference to: the 50:30:20 rule of budgeting. So
I asked:

Me: Have you heard of the 50:30:20 rule of

budgeting?

My friend: See, Ope, this isn’t the time for

mathematics. Are you trying to calculate my
remaining ‘broke days’?

Me: Nooo. It is a tested budgeting rule that works

for your finances. The 50:30:20 money rule helps
to share your budget into three buckets.

My friend: I don’t understand. What kind of

bucket?

Me: Buckets here mean categories. You share

your budget into three categories.

My friend: Okay, please tell me how.

Me: 50% is for the things you can’t do without.

Things like food, housing, clothing…

128
 THE GOOD LIFE

My friend: Like my transport fare?

Me: Exactly! Then 30% for lifestyle items like

entertainment, vacation, gym, recharging your
phone…

My friend: Hmm, that makes sense. So, what

happens to the remaining 20%?

Me: That’s what you use for savings and

investments. Even if you want to increase it, you
need to be cautious. That way, you will have
enough money to do other things and not run
into debt.

“Oh my God, Ope, where were you when I was

reading this article and getting inspired.” Those
were his words after the short pep talk. He said
he had only been lucky not to run into debt that
month.

I gave him some money from my black tax

budget, because I could tell he needed it more
than my Uncle Gbenga who has collected
money from me every month to start a business,
and still owns no business. I heard he uses the

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

money to bet in the village. Let’s not even talk

about how much I hate betting.

If I start talking about it now, I won’t stop.

Love,

Ope

130
 17
Adulting Issues
trust fund NOUN
A system that holds assets on behalf of
someone else, managed by a neutral third
party called a trustee. These assets in the
trust fund can be real estate, bonds, stocks,
money, a company, or a combination
of these: Azikiwe left a trust fund for his
children

131
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

T his story is an oldie but a goodie.

I don’t typically go home for New Year

celebrations, but I decided to visit home last New
Year, just to say hello. Even though the whole
world knows me as Ope of Cowrywise, I am still
the family’s baby who they can never get tired
of seeing. Also, my village people were already
saying I was beginning to ‘carry shoulder’, so I
thought to silence them with a visit.

And really, it was fun. It had been a while since

I was in the midst of so many people: nephews,
nieces, cousins I didn’t even know I had; aunties
and uncles that knew me before my right hand
touched my left ear.

And there were some people who were not in

any bracket. We called them aunties and uncles,
but we all knew they were not related to us in
any way. Some even had names attached to
cities—Uncle Kano, Aunty Ilorin. Imagine that
kind of thing. It was a really grand reunion. One
of the things that stands such reunions out: the
kind of stories you get from there. And when it
comes to stories, my ears are always open.

132
 ADULTING ISSUES

First, I got an update on Aunty Sade’s third

marriage, which thankfully had not ended
in tears. I would be pained if it did actually.
Thankfully, that is not the case now. They are
still as strong as ever.

When we got to my uncle—we call him Big

Daddy actually—things got intense. Everyone
had been saying just the happy things but uncle
came up with his challenge. His kids had been
sent home again. School fees palaver.

To be honest, I did not know that this was still a

thing—sending kids home because they could
not pay school fees. I thought schools had found
a better way of ensuring that parents paid up
their kids’ school fees without embarrassing
children for their parents’ offence.

When it was my turn to tell stories of what was

happening in my life, I didn’t even know what
to say. It was not that there was nothing to
say frankly. I had just gotten distracted by Big
Daddy’s out-of-school children. Truly, I could
never imagine that I had a family member whose
children were contributing to the country’s out-
of-school-children statistics.

133
23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

I was lost in an alternate world: I imagined what

the world would look like if we started planning
for our kids’ education before their birth, or even
before couples get married? Hear me out first.

The general idea we have when preparing for

marriage is usually the wedding, getting a space,
car, and stuff to put in the house. But what if we
think and plan for our kids too—that same way?
I am not talking about what their names or what
colour their toys would be. I am talking about
their education here.

What if we weave school fees into our marriage

and parenting plans?

I know it’s not easy. I mean, there is just so much

we can focus on at a time, and as humans, we
are socially conditioned to always focus on the
most immediate and pressing challenge while
pushing the seemingly distant ones away. I think
this is why most of us get into trouble.

Those who want to fall in love and get married

know they will spend a lot of money. And the
money will not fall from the sky, so it’s all right

134
 ADULTING ISSUES

to start planning towards it. The same goes for

those who want to have kids.

And hey, I know I talk a lot about savings and

investments but fam, the watchword here is
plan, save and invest! We need to start planning
for marriage and parenting in a proper manner.

And the thing is, those who are already parents

know what I am talking about. Nothing hits
harder than knowing that while other people’s
kids are learning, yours are under the tree in
front of the principal’s office, kneeling down,
eyes closed, because of school fees.

I am not going to pretend as if I have the

solution to this big problem, but hey, we can
do something. One of the things I have realised
since I started taking my money game seriously
is that with financial literacy, you can always do
better. We can always do better , even with our
kids’ education, if we plan well. One great way to
do this is through an education trust fund.

“I am not Dangote, I can’t create an education

trust fund for my kids,” you say.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

I hear you but relax. Don’t let the phrase

‘trust fund’ scare you. You do not need to be a
billionaire to create your own trust fund. I think
an education trust fund can work for people like
Big Daddy.

A trust fund is a system you put in place to hold

assets on behalf of someone else. These assets
in the trust fund can be real estate, bonds,
stocks, money, a company (or any type and
combination of assets). This is then managed by
a neutral third party called a trustee.

Education trust funds are also a good way of

preparing for uncertainties like loss of life. You
don’t want your kids begging when you are no
longer around. When you set up an education
trust fund for them, you’re ensuring that their
education is taken care of, if anything ever
happens to you. You don’t have to be on the
Forbes list or be the richest to provide for your
children when you’re no longer around.

It’s just a matter of planning. Something as

thoughtful as starting a savings plan for your
kids now can be a trust fund for them. Let’s say

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you’re not married or with kids yet, just imagine

how much money you would have by the time
you have children? Your kids won’t even be out
of school for a day.

That day at the family reunion, I felt for Big

Daddy o. I felt for him and the kids big time. Me,
I didn’t share any story. Later that day, I started
an education trust fund for my kids using an
automated savings plan on Cowrywise. You can
never be too early with planning, right?

That’s what I thought too.

Ope

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Everyone’s financial
journey is unique.
Ǔ Ope
 18
Privilege & Payday
Father Christmas NOUN (NigEn)
just like the conventional Christmas figure,
a Father Christmas is someone who is
always giving: Don’t do Father Christmas
with your savings

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I t rained for five whole hours this morning. Five

hours!

And the day got me thinking about my privilege.

I was all cuddled up with my blanket and

pillow complaining about missing my doctor’s
appointment at 8 a.m. Then it struck me how
I was so comfortable in my space, and still
complaining, with a duvet conveniently over me.

My privilege was screaming.

What of the people seeking shelter under the

bridge or on the street? I can’t help but imagine
what they must be going through. So, I tried to
estimate my Uber fare to and from the clinic
and put the estimate in a donations circle.2 That
would go some distance to assist some people
in need.

That reminds me, yesterday was payday!

I was very excited when I got the alert. I

immediately swung into action using the trusty
50:20:30 rule, saved 20%, 30% for entertainment

2 Cowrywise Donations Circle: https://cowrywise.com/circles/donations

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 PRIVILEGE & PAYDAY

and black tax inclusive, and the remaining 50%

for transportation and other important stuff.
I’m probably already used to the math, but I still
create a handwritten budget every month. The
Kakeibo method of budgeting has really helped
me find loopholes in my monthly expenses.3

I’ve incorporated donations in my budgets and

plans because you hardly go wrong with giving,
especially to the less privileged. Richard Templar
talked about it in his book Rules of Wealth as one
of the keys to fulfilment as a wealthy person.

Have you ever wondered why the news is

always filled with headlines about billionaires
and millionaires making massive donations to
orphanages, foundations and causes? You can
say it’s because they have a lot of money, and I
wouldn’t fault that logic half a bit, but what if it’s
because they’ve reaped a benefit from giving
and would like to continue reaping?

I don’t know about you, but if there’s a secret

amongst the billionaires and millionaires, then
I want in. Since I started creating a budget for
donations, I haven’t stopped.

3 https://cowrywise.com/blog/kakeibo-the-japanese-art-of-mindful-spending/

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I always keep this quote from John Bunyan,

the author of The Pilgrim’s Progress, in mind:
‘You have not lived today until you have done
something for someone who can never repay
you’. It is not quite about being Father Christmas,
rather, it is about being purposeful through
giving. So, find a cause that you’re passionate
about, and contribute your two cents to make
the world a better place.

There are verified causes on Cowrywise that

people donate to every day in Donations
circles, and so far we’ve been able to put smiles
on the faces of thousands of individuals and
communities. It’s a different kind of feeling!

Anyway, back to me cuddled up in my duvet.

With the rain, today has been a relaxing one for
me. I know you guys think I am all about work. I
mean, I love work, but my doctor has specifically
asked me to sleep more.

Talk soon. Ope

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 19
What Are the Odds?

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Ithought I knew everything about money until

recently. And guess what? I learnt it not from
an article, email, or educational video, but from
the comment section of a virtual conference.

What are the odds?

You remember the 50:20:30 rule we talked about

earlier, right? The one that helps you categorise
your income into needs, wants, and savings/
investments? I’m sure you do.

Well, I found out today that some people don’t

have issues with budgeting. In fact, they are
experts at it, so much so that they even give
people budgeting advice. That sounds like a
good thing, right? So I’m sure you’re wondering
why I sound like my eyes have seen the
unspeakable.

Let me tell you the full story for context.

I was invited to speak at a virtual conference

on wealth-building for millennials, and I was
so excited. As usual, I prepared my slides and
talking points. The D-day came, and after my
citation was briefly read, my session started.

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 WHAT ARE THE ODDS?

Twenty-five minutes into my talk, I paused to

drink water.

“Any questions?” I asked.

After five minutes of answering people who were

bold enough to turn on their cameras to ask, I
decided to look at the comments to answer
people who would rather type.

“Is betting bad?”

That was the first question I saw.

Before I could open my mouth to give a firm

reply which I thought was a rather obvious and
common one, another comment caught my eye.

“Of course not. It’s an investment.”

It continued, “As long as you have a budget for it

every month.”

I almost spilled the water in my mouth, losing

composure. I’ve heard many opinions of people
about money, but this was one for the books.

First of all, it’s a what? Secondly, a monthly

budget for betting? I couldn’t believe my eyes.

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Whether or not I believe what had just happened,

the truth remains that there are people who
think the same way.

I pretended to be unfazed and focused on giving

a clear response to the person who asked the
question. This was my response:

“I’ll be honest with you, sports betting and all

forms of gambling exist in the first place because
there is a market for them.”

I continued, “If it were ‘bad’, it probably would

be illegal and not as unfortunately popular as it
is today. The question you should be asking is:
‘Can I build wealth through betting?’ The answer
to that is a solid NO.”

I went on and on about how betting gradually

becomes an addiction that causes you to take
impulsive and unrealistic risks with the hopes of
cashing out big. That definitely does something
to your financial health, but also it becomes a
habit that could affect other areas of your life.

I never thought I’d have to teach people what

to budget for and what not to budget for,

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 WHAT ARE THE ODDS?

but the day came, and I happily took on the

responsibility.

Just off the top of my head, I can think of many

reasons why you shouldn’t indulge in betting or
any form of gambling. Yes, there’s a market for it,
but by the singular fact that you’re reading this
book, I know for sure that that market is not you.

Betting is for people who think wealth can be

built overnight, not for the financially educated
like you who know better. Wealth building is a
process that takes time. Besides, the addiction
to fast money can lead to one borrowing money
from all their family members and friends so
they can cash out even bigger.

When all the money is lost, where does one start?

Do they turn to stealing or borrowing some
more? How much debt can a person endure
before they slip into depression?

And no, betting does not count as an investment.

It’s gambling. There’s a difference.

Gambling is almost like a Ponzi scheme, only

that the ‘scammer’ doesn’t run away with your

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money. You know where they are, but you can’t

do anything to get back your money or get them
arrested because it’s legal. And worst of all, you
become addicted and you keep going back to
give them your money.

You see, these are the things nobody talks about.

It’s easy and legal to bet, but what are the risks?
The financial, psychological and mental risks
are nothing you want to be associated with, I
promise you.

You’re far better off putting your money in

safe, secure investments from verifiable fund
managers like mutual funds, bonds, or even
stocks if you have a high risk appetite.

Betting may seem inviting as a quick and easy

way to get rich. You might decide that you’d only
bet with money that you can afford to lose, but
isn’t that how it starts?

A little here, a little there, and before you realise,

you’re sucked up, knee-deep in an addiction you
can’t control, betting with your school fees or
house rent. And when the Bet Master’s finances
come crashing down, you also crash along, likely

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 WHAT ARE THE ODDS?

sent out of school, can’t afford rent, sell your car

to pay off debts, what then?

Don’t get me wrong: some people, after years of

indulging, retrace their steps, build better habits
and have healthier financial lives in return, but
it’s best not to even start in the first place.

Because who knows?

The odds may not be in your favour.

Ope

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 20
A Personal Secret
God when? PHRASE |Slang| (NigEn)
Part rhetorical question, part aspiration
statement directed at a situation that the
speaker desires: Just look at your new
phone. Ah, God when?

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

S hhh. I have a personal secret. And I am going

to share it with you.

You’ve come this far on this journey with me, so

you deserve it.

Back in the day when I used to have to save up

all my money for rent. I mean, if my yearly rent
was 200,000 naira for instance, I’d save up the
whole money before I could pay the rent.

“That’s normal, Ope, or is there any other way?”

You’re probably thinking.

Well yes, there is.

You can buy units of a low-risk fund with the

money instead of saving the money, and at
the end of the year, your returns would have
accumulated, and you’d find that even if you
were not able to put in all the 200,000 naira
rent, your returns would have made up for it.

It’s one of the conveniences that mutual funds

afford me.

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 A PERSONAL SECRET

They do not have irrationally high returns like

the get-rich-quick schemes, but I rest knowing
my money is safe, especially with Cowrywise.

So, this is how I do it. I pick funds that suit my risk

appetite, and invest accordingly.

So the joke’s on the landlords who thought I

was bringing the whole rent from my salary or
something. Some of it was money I earned while
I was sleeping.

If this is not the real ‘God when?’ then I don’t

know what is.

My money works for me.

I can boldly say that anywhere right now, but

it has not always been so. I wasn’t always this
confident about my financial health until I
started investing.

I had been saving, and putting money aside

for different things, but I was always one life
surprise away from going broke.

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

I used to be scared of investments, because

I knew there was risk involved. I didn’t want to
hear stories about my money, so I decided it
was safer to keep it in savings where there was
relatively no risk.

After I took the risk assessment test and got

recommendations of safe instruments based
on my risk appetite, my mind started to change
slowly.

Right now, as you can already tell, retirement is

top of mind for me, so I’ve decided that mutual
funds and I are going to be best friends.

Mutual funds are safe. That is sure. Safety is

where I’m at. It’s where you should be too.

This is how my money works for me. I earn returns

while I sleep — on money which I would have left
“idle” in my savings bank account when I didn’t
know better.

This is me bragging. Yes, I think I’ve earned the

bragging rights.

154
 A PERSONAL SECRET

You deserve bragging rights too. Invest in a

mutual fund today, and let your money make
more money while you sleep.

Talk later. Ope

155
 21
It’s Been Real
padi /pædi/ NOUN |Slang| (NigEn)
AKA friend: Ope is your money padi

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W hen I started writing these stories, I had

two goals. First, I wanted to share more
of my money stories with you. You know, to help
you stand on my shoulders and see the potholes
ahead on the financial security journey. I hope
you have learned enough to know how to dodge
the potholes and build bridges towards a
financially secure future.

Second, through my stories, I wanted you to

know me more. Well, not my actual face, duh! Or
were you expecting that I would share a picture
of myself? Sorry o! I’m just a regular person with
failures (from which I picked my lessons) and
dreams (to which I will continue to aspire).

I think that these two goals have been achieved—

though they say you cannot be a judge in your
own case, or something like that, but I really
hope that you would take these lessons beyond
these pages. I really hope that you set those big
money goals—and no, do not be like my friend
who wanted to ‘over-save’ after reading the Tech
bro story—and achieve them.

Why? This is because that is what friends do.

Friends do not just advise their friends, they also

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 IT’S BEEN REAL

hope that their words go on to improve their

friends’ lives. Indeed that is what I’d love for you.
I hope for the best for you. The next time I may
be sharing with you, I may be Ope of Banana
Island on the road to being Ope of Miami, so I
hope that your own financial levels too would
have changed. That maybe you’d be Uncle
Texas, Aunty Canada or Daddy Lekki, whose
children now have enough funds in the trust
funds established for them.

Friends also go an extra mile for their friends.

See, it has not been easy penning these stories,
digging into my memory and sharing stories that
make me feel so vulnerable. Yet, I’d rather share
because these my own tears can be gems for
you. Going the extra mile was what Cowrywise
did to ensure the safety of your monies. And
that was why we got the SEC accreditation,
despite the hurdles. I remember a couple of
years ago, when we only employed the trustee
structure, I asked Razaq, my boss, what it takes
to get directly licensed by the SEC. He explained
all about the minimum capital, and other stuff
required. Then, it felt like a long-term milestone,
but we made it happen. Cowrywise is the first

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23(Ɔ6021(<',$5<Lj6+2576725,(621+2:021(<:25.6

Nigerian FinTech company to get an SEC licence

in the fund/portfolio management category.

Apart from that, getting a SEC licence means

you have access to even juicier investment
products and the safety of your money is on
steroids! We’re concerned about the safety of
every hard-earned money our customers invest
on our platform, and that’s why we went the
extra mile.

Anyway, enough SEC talk…

If you notice, I haven’t talked about how this is

the last chapter of this book. I’m trying to salvage
my hard guy stance, but it’s not even working.

I guess what has to be, has to be.

I hope my humanity has given you permission

to reclaim yours, and be unapologetic about it.
Everyone has experiences that have taught and
shaped them to be who they are today.

I’ve shared a few of mine hoping it would help

you make better financial decisions, and build
wealth with whatever you have now.

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 IT’S BEEN REAL

You can start your own journey too. Sign up

on Cowrywise today and join a community of
young people taking control of their finances.
You’d also have access to all the products I talked
about earlier—Circles to save with your friends,
Retirement Plans, Emergency Funds, Secure
Savings and Investments, and many more.

Being friends, if you ever need help, I’d always

be here. You can send me a mail just to say hi
([email protected]); leave me a DM on
Instagram (@cowrywise), Twitter (@cowrywise),
wherever you feel like.

I’d be here rooting for you always.

Your money padi,

Ope

161
We use money everyday, but very few of us really
understand how it works. How do you make it? How
do you keep it? Investment? Savings? How do you get
it to work for you?

This book—Ope’s Money Diary—is one of the many

ways Cowrywise has actively sought to answer
these questions in simple language for the everyday
millennial to relate to.

There are 21 short relatable stories in this book to

make you laugh while you learn how money works.
Find the strategies to build lasting wealth as you flip
the pages. Future you would be grateful you did.

All the links and tools referenced in this book are only
accessible to you if you have a Cowrywise account.
Thankfully it takes only 2 minutes to set up, and all
you have to do is scan the QR Code below, or visit
cowrywise.com.