Nigerian girls and money

Checkout the 5 Mistakes Nigerian Girls are Making With Money…No. 1 is Epic

There are some of mistakes Nigerian girls make when it comes to managing their money. These are some of those mistakes.

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Every girl makes mistakes with money at some point in time: not planning adequately, not saving enough, spending recklessly on something frivolous e.t.c. Unfortunately, some Nigerian girls seem to be eternally stuck in the miry clay of certain money mistakes and are not even aware of how these financial pitfalls are significantly derailing their finances.
Managing money effectively is a key success skill for any sensible Nigerian girl, but to make the decision to become effective with money requires that they first identify what their weakness are and which areas they have been making money mistakes.
Are you a Nigerian girl itching to get your finances right but wondering what money mistakes you are probably making? These  are 5 money mistakes Nigerian girls are making.
1. Not acting their wage 
Nigerian girls are super hard working, they strive to make a living for themselves and that is great. However, a major problem most of them have, especially in Lagos and Abuja, is their tendency to live above their means and not act their wage.
They over-spend on the little things – the small amounts that seep out of their pockets here and there and eventually become large, as well as on big things like buying a car or renting a lavish apartment in Lekki Phase 1; when they are earning just about NGN150,000 a month.
As a Nigerian girl, if your outflow exceeds your income, then your upkeep will be your downfall. Basically, it’s not about the amount you make, but the amount you spend that is the problem.
2. Supporting a broke boyfriend 
The social situation in Nigeria today seems to be different as girls seem to be much more proactive and earning better, while the men seem to have become a bit lazy and there are more broke guys in their late 20s, 30s, and even 40s than there should be. Unfortunately, Nigerian girls seem to be emotional and these broke guys know how to pull their strings. They leech off these women for sustenance, literally depending on them for everything from daily spending money to toothbrush.
For the Nigerian girl, spending money and supporting a lazy and broke boyfriend is a huge money mistake. Pouring money into a feckless boyfriend is like investing in a company you own no part of. It is important that the Nigerian girl ensures she is on the same page, or at least in the same book financially with any boyfriend. That way, her finances are not completely depleted.
3. Going into debt over a big, fancy wedding
Every Nigerian girl getting married in 2016 wants an ostentatious wedding that will be featured on BellaNaija Wedding. This implies pre-wedding photoshoots, exquisite designer wedding ceremony gown and wedding reception gown, hiring a wedding planner, lavish wedding venue and decorations, premium coverage as well as a fabulous honeymoon.
To achieve this desire/goal, a number of these girls drain their groom financially and still go into debt. Nigerian girls need to remember to invest in the marriage rather than the wedding event, as life continues afterward. In fact, a simple rule every single Nigerian should try to live by is this: If you are not in debt, do not get into debt.
4. Going without a budget 
A number of Nigerian girls fail to keep track of how much money they spend per time as they do not have budgets. They are huge on impulse buying and so, tend to make a lot of financial mistakes in that regard.
The truth is, no matter how shrewd a Nigerian girl is with her spending, she will still need a budget. A budget helps control spending and reveals where improvements need to be made. With a budget, it is easier for the Nigerian girl to reach her financial goals as she will know where her money is going and plan in advance how to spend it.
Budgeting is actually very easy if she follows the 50/20/30 Rule which says that from the take-home pay, 50% should be allocated to essential expenses; which include housing, transportation, utilities and groceries; 20% to financial priorities; which are retirement, savings and debt (in that order) and 30% to lifestyle choices; which are gifts, travel, dining out, shopping and everything else.
5. Living paycheck to paycheck 
Most Nigerian girls may have a budget and live within their means, but still not have savings. While it is great to know where every naira will go, the reality is that no one can predict everything.
For this reason, it is important for Nigerian girls to stop living paycheck to paycheck and instead create a budget that would include a small emergency fund that could cover unexpected expenses or surprise doctor’s bill and provide a cushion that will also prevent them from overdrawing on their checking account and paying unnecessary financial fees

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