I Am Better With Money: I want to buy Chioma a Range Rover without breaking my back.

The ‘I Am Better with Money’ series tells the money stories of real Nigerians and how they manage their money better with Eyowo.  

In this episode, we spoke to a fashion entrepreneur who realised his impulse spending on fashion items was affecting his finances and how he’s been able to manage this habit while maintaining his drip.
 

Hello, please introduce yourself and tell us what you do.

My name is Noble Chibuzor Igwe, my friends call me Nobs. I’m a serial entrepreneur.

I work as the Chief Relationship Executive of The 360Nobs Group Limited; owners of 360Nobs.com, Stylevitae.com, The 360 Management Company, SLU..shh, Noble Konsepts and I also consult for businesses. 

Looking at the above, I do a lot and should be wealthy. 
 

I absolutely agree! Speaking of which, tell us how your relationship with money used to be.

My relationship with money was one sided. I feel like I deserved better for someone that gives more than enough to make money.

Money was not loyal and moved from me to people around me - it’s called cheating, money was cheating on me.

To quote a great Nigerian Philosopher, M.I Abaga, “Money slow to enter, money quick to go.” 

I thought I knew how to manage money, but with a young family, you can’t really manage money unless you put proper measures in place as expenses sneak up on you daily without a warning and you have to face them head on. 

What was the game changer?

It was a certain night in November 2021, my daughter wasn’t feeling well and we had to take her to the hospital in the middle of the night. On getting to the hospital, we had to run several tests which pushed  up our bill.

We paid but I realized that if the bill was N20,000 more, I wouldn’t have been able to settle it that same night.

Earlier that same day, I had bought three new pairs of shoes  that I didn’t  need. I knew right then that I needed to make changes, create a fashion budget and stick to it. 

Fashion is still life though, don’t get it twisted.

How did Eyowo help you get better with money?

When I started banking with Eyowo, I saw at a glance that I could tell what I spend the most money on, who I frequently send money to and how much I spend on airtime.

It was a game changer.

The airtime record blew my mind and was the first major expense that I cut down on in less than 2 weeks of using the app.

What drives your financial decisions?

I’m an impulse spender, I just need to like something to buy it. 

It’s crazy because looking back, there’s nothing I have said that I wanted that I never got.

If only money was not an issue, maybe I would have continued on that same route. 
 

What 'want' do you mostly spend money on? 

I hate to say this but I think my umbilical cord was tied to a boutique after birth. Fashion takes the cake. 

Knowing what you now know, would this still stand?

I can’t say that I’d stop spending on fashionable items but I plan to live within a budget, and make sure I don’t exceed the allocated monthly budget.

With Eyowo, I’m in safe company as their controls help me manage my money  better. 

Before making an unplanned purchase, do you; 

1. Call your wife for validation?
2. Buy immediately?
3. or apply the 24hr rule?

It’s all of the above. I call Chioma when I’m not sure I should be spending that much on an item.

I buy immediately because I don’t want anyone to make me change my mind.  

I apply the 24 hours rule if I have to choose between two things; I take pictures of both to review at home.
 

What's your top money goal for 2022?

It’s funny, but I want to be able to save enough to buy Chioma a Range Rover without breaking my back. 

Don’t let my mother or her mother read this.