“Ah, that’s a tough one! But I’ve learned to set boundaries…Luckily, they are not entitled to my money.”
Funmi.
Ever wondered how some people seem to have it all together—budget, savings, and a travel fund—without sacrificing their enjoyment vibes? Today on Bank & Boujee, meet Funmi, a 24-year-old remote technical writer making ₦450,000 a month, with freelance gigs adding another ₦100,000 to ₦200,000 to her wallet. She’s not just saving; she’s living!
What do you do, how much do you make, and how do you manage your income?
I’m a technical writer working remotely, and I make ₦450,000 monthly. Freelancing adds another ₦100,000 to ₦200,000, depending on my schedule. Here’s how I allocate my spending:
Tithe: My non-negotiable 10%.
Essentials: 35% goes to essentials like rent, bills, and food.
Savings: I put away 30% immediately. This goes straight into a separate account.
Enjoyment & Self-Care: I set aside 10% for treats and entertainment.
Miscellaneous & Emergency Fund: The remaining 15% is for unexpected costs, so I’m not dipping into my savings when surprises pop up.
You’ve got a real knack for budgeting. How did you get started with that mindset?
Honestly, it all began with my love for travelling and splurging on gadgets. With how unpredictable finances can be here in Nigeria, I knew I needed a reliable plan. I got serious about my income first; I knew I couldn’t save without a steady inflow. Once I sorted that out, I started creating mini-goals and challenging myself to save in fun ways.
What’s the first tip you’d give to someone who wants to save for a trip or an expensive gadget but doesn’t want to give up having fun right now?
I’d suggest starting a “Treat Yourself, Save the Rest” jar (one of my savings categories). Anytime I resist the urge to splurge on something, I put that money into my travel jar instead. It’s a digital jar in my savings app. For example, if I skip that extra snack or hold off on a new outfit, that money goes straight into my savings. It sounds simple, but it really adds up over time, and you don’t feel deprived. Plus, I earn interest over time!
Love that! So you’re saving in small ways without really cutting out enjoyment. How do you balance that? Do you still get out and have fun with friends?
Oh, absolutely! I’m all about finding budget-friendly fun. Instead of going out to fancy dinners or expensive events every weekend, I plan “small chops” nights with friends. We’ll go to a local spot, order our favourite snacks, and have a great time without spending too much. Sometimes we watch a movie together or hang out at a park. I call it the “Small Chops Method” because you still get to have a social life and enjoy those fun moments at a fraction of the cost. You’re spending way less, but the vibes are still there!
That’s clever! Outside of making small savings, do you have other strategies to help build up a big fund for vacations or gadgets?
Yes, definitely! The Nigerian in me loves a good side hustle, and there are plenty of ways to make extra money without a huge time investment. I work remotely and this helps me take side gigs. These side gigs might seem small at first, but when you’re consistent, they really add up. Plus, since it’s “extra” money, I make sure to channel it straight into my travel fund. It’s a steady boost without pulling from my main income.
Any planned trips this month?
None this month, but I will be travelling to South Africa for the festive period.
You’re making the most of what you have! But let’s be honest, family and friends often ask for small loans or favours. How do you handle that without losing sight of your savings goal?
Ah, that’s a tough one! But I’ve learned to set boundaries. Instead of constantly lending, I tell family and friends I’m saving for something big—like a trip or a gadget for work. Surprisingly, many of them will offer to support rather than borrow. Sometimes they chip in as encouragement, which helps keep me on track. Setting the expectation that I’m focused on a goal is key; it keeps my savings intact and lets everyone know that my goal is serious. Luckily, they are not entitled to my money!
That’s smart! One last thing: how do you stay consistent with saving? Don’t you get tempted to dip into your savings sometimes?
This part is quite funny! Temptation is real. But I use an “Out of Sight, Out of Mind” system. I created a separate account for my savings, one that I can’t access too easily. Every month when I get paid, I automatically transfer a set amount there. It’s out of sight, so I’m not constantly thinking about it. Honestly, just knowing it’s growing keeps me motivated!
That’s a genius setup, Funmi, and it’s something you will be able to do with the FunZ App really soon!
You’ve given us some great ideas on how to save for our goals without sacrificing all the fun. Any final tips for people who want to start saving this way?
Just go for it! Set a clear goal, even if it’s small, and find a way to enjoy the saving process. It’s not just about the destination; it’s also about learning to manage your money and making smart choices. Whether you’re saving for a trip or your next gadget, every naira adds up.
Thank you! This has been a wonderful conversation.