“See how you waste money everyday”

My Dear Readers,

Today, have a real talk about something that affects all of us: MONEY. Specifically, how sometimes, without even realizing it, our hard-earned naira just seems to vanish. It’s not always about the big spending; often, it’s the small, everyday habits that silently drain our pockets. Ready to uncover these money leaks?

Let’s pull back the curtain on some sneaky ways our hard-earned cash tends to slip through our fingers. No judgment here, just a little friendly nudge to help you reclaim your money. We’ve all been there, trust me.

How sometimes, without even realizing it, we’re letting money trickle away like sand through our fingers. It’s not about grand splurges; often, it’s the small, seemingly insignificant habits that add up to a significant drain on our wallets.

First up, let’s talk about the daily coffee or tea run at the nearby cafe at your office or that daily soft drink; Ah, that cold Fanta or those warm snacks…you snack away with. But let’s do some quick math: if your daily treat costs, say, N1,500, that’s N7,500 a week, and a whopping N390,000 a year! Imagine just a few days a week, can make a huge difference.

And let’s not forget the impulse buys at the market or supermarket. You head out for just a few items, and somehow you come back with new Ankara fabric, fancy imported biscuits, and that exotic fruit you just had to try.

Ah, the subscription creep. They start so innocently, don’t they? A free trial for a new streaming service (Netflix, Showmax, Prime Video), a special data bundle offer, or an app you downloaded once and forgot about. Before you know it, you’re paying for multiple platforms when you only actively use one, or recurrent charges for services you barely remember. Take an hour this week to go through your bank statements and identify all your recurring subscriptions. Cancel the ones you don’t actively use or truly need. You might be shocked at how much you’re spending on forgotten services. It’s like finding free money in your account!

Oh and what about the “Just Because” Purchases. We all love a little retail therapy, and there’s absolutely nothing wrong with treating yourself! But it’s about being mindful. How many times have you bought something “just because” it was on sale, or because you felt a bit stressed, or simply because it popped up as a tempting ad on social media? These unplanned purchases, whether it’s another pair of shoes or a new kitchen gadget, are often emotional rather than practical. Before tapping “pay now” or handing over your card, try the 48-hour rule: if you still genuinely want it two days after, then consider it. More often than not, that strong urge will pass, and your wallet will thank you.

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And what about “Neglected Bills”; Are you still paying for outdated data plans, electricity tariffs, or even DStv/GOtv packages that no longer suit your needs? Many of us set these things up ages ago and never revisit them. A quick call to your service providers or a check of their latest offerings can often reveal better deals or opportunities to reduce your monthly costs. It takes a little effort, but the long-term savings can be substantial. And those late payment charges on utility bills or loans? They’re pure wasted money. Set up reminders or even automated payments where possible to ensure you’re always on time.

The goal here isn’t to live a life of deprivation, but to bring awareness to where your money is truly going. Once you see these small leaks, you gain the power to plug them. Imagine redirecting even a fraction of that seemingly “wasted” money towards something that truly excites you – building an emergency fund, investing in that small business idea, or saving for your children’s future.

Make that quick change now.