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My Money Story Series

Season 1, Episode 1: My early years

There is an interesting belief about money, that is “money is 90% emotion and 10% calculations” of which 80% of people don’t get right, because not everybody knows the maths of Money.

 Money rules your emotions, it controls your emotions and could place you on a roller coaster with or without your consent or involvement. Whether the emotion is empowerment, disempowerment, shame, pride, inspiration, guilt… in order to create a life of balance, understanding wealth and wealth creation, and authentic prosperity, it is crucial to understand these beliefs, whether cultural or religious and then learn rigorously how to manage your finances and drive your relationship  with money.

I have not met anyone  without a money story. In my early twenties, I was living in a fool’s paradise until I lost my mother and it hit home so bad and I knew I needed to create my own money story, get out of that  cycle and own my own money legacy.

In my Teens

My growing up years were very interesting. Been the last born of 8 children, it was assumed by all that I was pampered but I never saw it that way. My mother was very strict and a disciplinarian. She was also an Evangelist so everything about us was centred around the church, church activities and her business.

My mum was very conservative when it comes to spending, she only purchased things that were necessary for our survival. As the last born, I was used as a bait by my elder ones  to get things from my mum, but she tried to provide as much as she could at the time.

On the flip side, my dad was a conversative person, he was not flamboyant, he always talked about contentment and been fulfilled in life. I always got a resounding NO from my dad for most of my demands even if they were my needs. And I began to feel like this man does not want us to have the good things of life.

But what really are the good things of life, its all defined by you in your mind. I began to develop a coping mechanism to not ask him for stuff anymore, as most times he would redirect me to my mum. I grew up to understand that he gave my mum the money and gave her the power to manage same without his involvement. He was concerned about generating income for the upkeep of the home and investments while my mum focused on the management of the money. 

Now I am getting to understand that they both played to their money profiles and strengths, it was not a competition but complimenting each other. And this in turn made me understand that my parents were actually my first money influencers. My mum always took my money gifts immediately from me and put it in a “kolo’, a small earthen box with an opening at the top. You can only get your money out when it is broken. And in those days, it was all coins, how the coins never fall out after rigorous shaking is still a mystery till tomorrow. 

At an early age, I was taught how to save by default as my mum would rather keep my money gifts in my kolo than give it to buy that sweet groundnut cake from Mama Chidi at the junction. She always gave me 10kobo everyday for transport fare(5kobo) back home and to buy Ice-cream (5kobo). Same with some of my friends and we would rather trek about 10km home and use the money to buy more ice-cream, licking it on our way home under the sun was so much fun so it seemed in those days.

I always wondered why I could not have everything I needed or wanted. No one was there to tell me what the difference between our needs and wants were  or why we needed to save, put money aside and not spend everything.  But here we are today, more advanced lifestyle, technology, pressure on every side and even for our children and still no one is able to explain or teach the children of nowadays money management lessons. 

I have come to understand now that at every stage, phase and decade of our lives, there are things that  should be our major focus, things that are relevant and things we need to be knowledgeable as it relates to Money and its management. 

Watch out for the next episode, as I continue with my money story. What is your money story? We would like to hear from you.

Check out @smartkidzlearning on Instagram, Youtube and Twitter for Money Lessons for Kids.

Image credit: Cash Vectors by Vecteezy

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