Follow the Eyowo
Last year, it was okay to shop on impulse because your heart was broken, Maybe you even ordered Azul and resorted to looking for urgent 10k the next day. All that is not permissible in 2022.
New year, new me.
Sounds familiar? I bet you have heard that a couple of times in 2022 or maybe you are even one of those who said it. No judgment, but let’s get real. It is quite easy for this to become a cliche statement with no actual effect if you do not make a conscious and deliberate commitment to building new habits. The same applies to your money! New year, new money habits, huh? Last year, it was okay to shop on impulse because your heart was broken, to spend based on vibes and inshallah without a budget. Maybe you even ordered Azul and resorted to looking for urgent 10k the next day. All that is not permissible in 2022, it is the year to be better with money. Okay? Okay.
Building a better relationship with money starts from cultivating better money habits. As a result of our investment in your financial lifestyle, here are New Money Habits you should pick up this year;
Is your spending still guided by vibes? In big 2022? You should stop that and start budgeting. The 50-30-20 rule will guide you. The rule simply says to budget 50% of your income after tax on your essential needs. Bills, grocery shopping, healthcare, transportation, and other essentials will come under this. Next, budget 30% of your income on your wants like streaming subscriptions, gym payments, date nights (yeah, you should budget for those too), etc. The remaining 20% should go into savings. The percentages are not cast in stone and you can modify them to suit your peculiar situation. What you should not do is not budget.
This is one of the most important new money habits to cultivate. It is one thing to budget, it is another to have clarity on what and who you spend on . Take a step further, track your spending to see how well or not you are adhering to your budget. With Eyowo, you can check your trails and study your insights to gain an understanding of how your money moves and what you spend on.
One unplanned emergency can render you broke and mess up your life with embarrassing debts. In 2022, “God forbid” is a terrible money habit. Set up an emergency fund instead and keep some money away monthly in your Eyowo Safe for emergencies.
Don’t be one of those who blame the Instagram algorithm for all the cute clothes and shoes they keep buying off the app as soon as they see them. That is impulse buying and you need to do better, so stop it! A better money habit will be to practice the 24-hour rule. See something you want to buy? it is even on sale and you feel a strong need to buy it outside of your budget? Don’t. Wait 24 hours, sleep on it. Consider all your big money goals and be sure that your purchase aligns with them. If you still feel strongly about it, then go ahead.
Savings are good; you can get up to 13% interest when you save on Eyowo, that’s a great deal. However, the truth is you cannot reach financial freedom by saving only. Start from savings and build a capital base that can be used for more robust investment options. Remember, invest only in what you understand.
This is the Better is Possible year; you can be better with money when you cultivate better money habits. Are you ready? Let’s begin.
Join the money circle and be better with money!
Good to Grow.
Good to Go.
Eyowo’s services are delivered by two regulated entities, Eyowo Integrated Payments Limited and Eyowo Microfinance Bank. Eyowo Integrated Payments Ltd (RC1512927) is licensed by the Central Bank of Nigeria as a Payments Solutions Provider. Registered address: 8, Oduduwa Crescent, Ikeja GRA, Lagos, Nigeria. Eyowo Microfinance Bank Ltd (RC838171) is licensed by the Central Bank of Nigeria as a Microfinance Bank. Registered address: 19 Araromi Street, Victoria Island, Lagos, Nigeria.
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