It’s not uncommon to hear statements such as, I don’t have money. Reduce the price please I am a student. The price for this material is too much; don’t you know that I am a student? The question we should ask ourselves as students is, is being a student synonymous with poverty or being sapa strike?

Well, the answer is No. The problem is that majority of us do not make wise financial decisions. But how can we do that when our school curriculum is deficient in financial education. Notwithstanding you do not have any excuse. You have to just take responsibility for your life and your realities.

Just like you, I am a Nigerian student that sapa has dealt with. I was broke especially when I needed money to invest in things that would yield high returns on investments or even take advantage of price slashes during promos like black Friday or Christmas sales. Investing in items that yield high returns on investments does not mean Ponzi schemes or investing 20K to get 50K. I am talking about paying for business trips etc. During Black Friday sales, I would swipe my phone and say I wish I have money. Sincerely, I had money but I made foolish money moves and it left me in a broke state.

But, I am a new creature now. I am not yet where I want to be but I am no longer where I used to be financial. In this article, I will share five steps you can take to make smart money moves even if you do not have a stable source of income.
Let’s move, shall we?

1. Understand where you are coming from.

This simply points to the knowledge of one’s financial background. Are you from a rich family, a middle-income class, or a poor family?

If you asked to provide 2k right now, can you confidently call your dad and you will receive it in minutes? Are you the one sponsoring yourself?

Asking and answering questions like this will help you make informed choices. That way, you won’t be neck deep in debt or unable to pay for some things.

2. Budget

The statement, if you fail to plan, you plan to fail is so real in personal finance. If you fail to have a good budget, you are planning to spend money unnecessarily. You may forget to pay your faculty dues and e go choke during exam time.

Asides from writing a good budget, you need to discipline yourself to use it. There is this feeling that one has when a huge sum lands in his or her bank account. Without a good budget and the discipline to use the budget, it will end in I wish I had known or in hot tears. I am sure you don’t want that, do you?

3. Track your expenses.

You need to track your expenses. You can have a financial journal or download a tracker from the Google play store. Use whatever works for you; the goal is to track your expenses.

This will help you to understand and see how you spend your money. It also helps you to understand what you spend money on. Having a journal or a tracking app is good but it won’t be effective if you do not record your expenses daily.

Imagine if you are like me that is a fan of Choco rings. Let’s say you consume that five times a week because it’s just 50naira. 50*5= N 250. For 30 days, it’s N7, 500. You won’t know you consume up to that amount if you don’t track your expenses to know what you spend money on.

No matter how small, expenses are expenses. They add up and they do not add to your purse so learn to track your expenses.

4. Solve problems and offer your solutions for a fee.

You can choose to skip this if you are Father Christmas, well I am not one. Bills are not smiling. They don’t move till they are paid. You need money for T.fares, meals, travel, textbooks, etc. How and where will you get it if you are not solving problems?

You can help people with tasks and charge for them. If you are a writer, you can take advantage of Valentine’s Day to write a story for lovers and offer it to them for a fee. Opportunities abound. Just think outside the box. Learn to pitch and sell what you have to offer.

5. Save and invest

Many people do not believe in savings, especially in a country where its currency is constantly devalued. The good news is that you can save and invest in Dollars with so many fintech like Cowrywise. The second Good news is that you are not other people.

You are the chairman of the central bank of your incorporation. Saving is like a backup plan. At cowry wise, there are different savings plans like emergency savings plans, Halal savings, etc.


The goal is for you not to spend everything you earn. You can start with 5% and grow from there. If you do not have a stable source of income, you set aside a particular amount from your pocket money.

Please, this does not include your school fees or money given to you for specific items like phone repair, purchase of textbooks, etc.

In conclusion, you can make smart money moves even as a student. Do not wait till you graduate before you pay attention to your finances. If you don’t start now, you may become like individuals who work for 25 years and yet have nothing to show for it.

The reason is simple. They did not learn how to make smart wise money choices before the big bucks started coming. If you can’t manage the money you have now, chances are that you will still be in the same state when the big bucks start coming in.

Foolish money decisions are a product of bad financial habits which you can start to work on now as a student.

Gain financial education by following fintechs like Cowrywise on social media. Read books like the smart money woman. Attend financial seminars.


If you can practice what you have learned here, then Sapa will no longer be your visitor.

Great gba gba,

We are still in the battle against Sapa!

But, we must win 

Let me know if this was helpful.

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