How To Save Money In Your 20s And 30s In Nigeria

How To Save Money In Your 20s And 30s In Nigeria

save money in your 20s and 30s

Have you been searching for the best and easy way to save money in your 20s and 30s in Nigeria? Well, you won’t need to search any further because we have got you covered in this article. You must understand that wealth creation is intentional and does not happen by accident. Let me tell you something, you can stumble on cash, but you can never stumble on wealth. Wealth has to be built and nurtured to grow, irrespective of your background in life. You can never build wealth if you are not disciplined and successful with money. 

Also read: Learn to save; never be embarrassed because you are broke

In Nigeria, there is no better time to build wealth than in your 20s and 30s. At this age bracket in your life, you have the strength and energy to get things done in the shortest possible time. This article is centered on how you can easily save money in your 20s and 30s in Nigeria. Have you ever sat down to ask yourself how you intend to attain or reach that dream you have had in mind growing up? Trust me; no one will get it done for you, but you alone. Now is the best time to start preparing for it. There are many ways you can save money in your 20s and 30s, but there are few smart ways to that too.

This article will dwell more on those ways on how to be wealthy and successful at a relatively young age. Now that you are in your 20s and 30s, do you have a plan on how to save and build your world? 

Different Way To Save Money In Your 20s And 30s

·        Save your money the smart and new-fashioned way

Gone are the days when you put your money in the commercial banks where you are charged for maintenance and all that comes with it. The fintech industry in Nigeria is fast, breaking new grounds and doing great in business. There are many online savings and investment platform where you can save your money and get interests accrued instead of charges. Among the fintech companies in Nigeria, Sumobank certainly caught my eyes in the cause of my findings. 

Sumobank pays its users a 10-15% annual interest for their savings on the platform. What is lovely about the sumobank platform is that you can actually save as little as N100 daily, weekly, or monthly basis. You can also earn while saving with the platform because they have the affiliate program that allows you to earn N600 per each person that registers through you. See how to open a sumobank account here..

Imagine you are savings N100 every day for 10-15% annual interest as a twenty-year-old for the next five years. You should do the math and see for yourself what you have been missing all along. There are other online savings and investment platforms like Cowrywise and Piggyvest that can also help you save the new-fashioned way. 

·        Keep track of your daily spending

It will be highly improbable for you to save money in your 20s and 30s if you fail to keep track of daily spending. Keeping track of your daily spending is indispensable if you wish to learn how to be rich and successful. The amount of money you earn doesn’t matter; you can always cut back on your expenses. Try to track your spending for just a week to see how you have been so “extravagant” in certain things that shouldn’t worth your money in the first place. 

There are certain things that are not necessities but rather are luxuries. Minimize the number of times you eat out to help you save money to build that you always dream about. 

·        Learn to live within your means

No matter how you desire to learn how to be rich and successful in Nigeria, if, you don’t learn how to live within your means, it will all be for nothing. There is a big difference between living the life you can afford and living the life you want. As you seek to become wealthy in 5 years, you must choose to focus on living within your means. You can only save money on sumobank or other online savings and investment platforms if you learn to live within your means. 

Smart Money Tips You Must Know In Your 20s And 30s 

·        Time is your greatest asset

The only resource common and available in equal proportion to everyone alive is time. Whether rich or poor, you all have the same 24 hours in a day. How you decide to make use of your time in your 20s and 30s will determine how the tail end of your life will be. For you to build and create wealth, you must start early, although there is no time that is too late to start. However, it will better to start in your 20s or the latest in your 30s. Even as a young student, you can start building your wealth. It will interest you to know that the founder of Nairaland started before he clocked twenty years. This is to tell you that you can do even better. 

Also related: How to save and invest money wisely

·        Have multiple streams of income

You cannot save money if you don’t look for a way you earn money. It is from what you have received that you can be able to save and invest seamlessly. The fact remains that the amount of money saved is dependent on your earnings to a considerable extent. So, for you save money in your 20s and 30s in Nigeria, you need to create a means to earn money positively. If you have a job that pays you stipends, then now is the time to start making plans for different streams of an income. 

You can achieve this by getting a freelance job or build a business of your own using your skill and competence. Ensure you don’t depend on a single source of income. You can run a side business, open an online store, start a new business, etc. Whatever you do, don’t just have a single source of income. 

·        Try as much as possible to avoid debts

Whatever you do, try to avoid incurring debts because they often become a hindrance to your savings and investment as the case may be. Most of the time, a lot of people find themselves berried in debts because they failed to live within their means. If you desire to save money in your 20s and 30s, then you need to stay far away from debts as possible. 


You need to understand that building wealth requires patience and persistence. To get it right, you must be willing to make the sacrifice now that you are young, healthy, and vibrant. 

You can leave your comments in the space provided below because I would like to hear your thoughts on this crucial topic.



Leave a Reply