We’ve all wished we could go back in time to save our younger selves from making certain mistakes. Sometimes, those mistakes could be related to our finances. Perhaps, we could have saved or invested better. Or we could have started earning way before we eventually did. 

We spoke to 6 Nigerians to know what financial advice they wish they could give their 18-year-old selves. 

“Put aside at least 10% of your income monthly” — Faith

You’re going to be in university soon, and your parents will do everything they can to make sure you’re supported. Enjoy this money, mainly for yourself, because you have a thing for helping others before settling yourself. Remember that this is your money first. Others are not entitled to it.

Also, put aside at least 10% of your income monthly. You can determine what that money will be for later. And when you get more than expected, put aside some more. You’re a girl with big dreams, and those dreams will need money. I’ve managed to sort us out now, but I know this would’ve been easier had I started saving earlier.

Most importantly, write down your money plans and document your expenses. Coasting with money is never worth it, especially when you sit there wondering where it all went.

Above all, money moves to you. Never forget that.

“Learn how how to save and invest; your parents won’t be at your beck and call for long” — Victor

Listen, nobody owes you anything in life. So you had better acquire a skill and learn how to save and invest money. This will create a soft landing for your 20s — when your parents won’t be at your beck and call as they used to.

“Freelance to develop core business skills” — Mary

Try to understand how money works. Outgrow your limiting mindset about money too. This will build a strong foundation for when you eventually start making money for yourself. 

When you’ve done that, start freelancing. This will help you develop core business skills, such as operations, sales, and negotiation — all of which will serve you well, even in your 30s.

“Develop tech skills so you can stop depending on your allowance” — Damilola 

To reduce your dependency on parental allowance, you have to develop tech skills and start offering freelance services. This will position you for great earnings that sustain you through your 20s.  

“Although you love to enjoy life, learn to keep funds aside” — Gbenga

I know you love to enjoy life, but learn to keep funds aside. Discipline yourself to learn how to save and build an emergency fund. You will not always have your parents’ money to fall back on. So save everything little you get.

“I know you have the desire to make it fast, but try not to do Ponzi schemes.” — Tamilore

You need to take upskilling (learning additional skills) seriously if you want multiple income streams that can take you out of the trenches. You should also not save alone. Try to invest too. I know you have the desire to make it fast, but try not to do Ponzi schemes. Lastly, join the crypto train early before it gets mass appeal.