#TMOC5: Intro to Savings and Investments for Teenagers

This is a compilation of the second session in TMO Conversations 5.0. It was held by Feranmi Ajetomobi, a Product Marketer at CowryWise, in a closed Telegram group of over 200 participants. Feel free to share with others.

Building a road is a goal, but getting the right mix of materials to build a solid road is what makes the road happen. That entire process doesn’t also happen suddenly, it happens gradually—step by step. The same applies to money habits. 


This is a key path to financial success, but definitely not an easy path. Instead of trying to budget for a week, a month or year at once, why don’t you take an atomic approach to things. Start with budgeting for the next 24 hours. Don’t rush things. Practice with budgeting for 24 hours first, then gradually move on to 3 days, 1 week and so on. When you start at the atomic level, it is easier to compound your efforts.  

This is the best and most powerful approach to finances. The approach of giving little over time, and letting that compound.

If you do 1% of something every day—for a year—you will be 38 times better at that thing. You see how far 1% can go? So, if you start with budgeting for just the next 24 hours, within a year you’ll be 38 times better at budgeting.  

When it comes to measuring your financial goals don’t create some bogus futuristic goals. That will just weigh you down.

For example, don’t say, “I will save ₦100,000 this year”. Rather, ask yourself how much you wasted last week. Let’s assume the amount was ₦4,000. Tell yourself, “I will spend less this week by spending ₦3,000 instead of ₦4,000”. Gradually, you will see a cut in your expenses and growth in your savings without pressure. Say this to yourself, “No Pressure”  

We hope you learnt something from this. Share with others and don’t keep the knowledge to yourself. There are other sessions from day 1 and 3 and you can follow the #TMOC tag on our site to catch up.


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