As Women’s Month draws to a close, we want to share some key reflections on financial independence. Beyond the celebrations, panel discussions, and inspiring stories, the real empowerment comes from taking control of our financial future. Financial independence is more than just earning an income—it’s about making informed decisions, growing wealth, and securing long-term stability, regardless of life’s uncertainties.

Two Stories, One Dilemma

First, there’s Chioma. For years, she left all financial decisions to her husband, Emeka. Investments? That was his thing. Retirement planning? She trusted he had it covered. Then life happened—Emeka suddenly passed away, leaving Chioma to navigate a complex financial landscape she barely understood.

Then there’s Amaka, who built a successful catering business but allowed her brother to manage all the finances “because he studied accounting.” When disagreements arose about the business direction, Amaka realised she had no access to her own accounts and couldn’t make independent decisions. It took her nearly two years to regain financial control of the business she built with her own hands.

These stories aren’t unique. Too many women find themselves in similar situations—whether due to divorce, widowhood, or simply realising they’ve surrendered their financial power for too long.

The Reality Check

Financial independence isn’t just about having your own money—it’s about knowing how to grow, protect, and leverage it. Let’s break down how you can take control of your financial future, regardless of your relationship status or current financial knowledge.

The Wealth Gap Is Real

In Nigeria and globally, women face unique financial challenges:

• Career breaks for caregiving often result in lower lifetime earnings.
• Women typically live longer than men (by about five years), requiring their finances to stretch further.
• Cultural expectations sometimes discourage women from actively managing money.
• Many women have been conditioned to believe investing is “too complicated” or “not for them.”

But here’s the promising news: when women invest, studies show they often outperform men by 0.4–1% annually. Why? Women tend to research more thoroughly, take calculated risks, and trade less frequently (avoiding unnecessary fees).

No shade to the men reading this!

Step 1: Know Your Numbers

Financial clarity starts with awareness. Take a moment and note down:

• Your total monthly income
• Your essential monthly expenses
• Your current debt (with interest rates)
• Your available savings
• Your retirement contributions

Don’t have all these numbers? That’s your first assignment. (Who knows, that might be the first thing we ask you next time!)

Step 2: Build Financial Confidence

Financial literacy isn’t inborn—it’s learned. And trust us, if you can master the recipe for smoky jollof rice, you can understand compound interest!

Start with these simple actions:

• Follow one financial expert on social media (may we suggest wealthbuddyng?).
• Read one financial article weekly.
• Listen to a money podcast during your commute.
• Ask questions about terms you don’t understand.

Remember: the only “stupid” financial question is the one you were too afraid to ask.

Step 3: Create Your Safety Net

Before climbing the wealth ladder, secure your foundation:

• Build an emergency fund covering six months of expenses.
• Secure appropriate insurance (health, and life if you have dependents).
• Pay off high-interest debt.

A solid safety net gives you the confidence to make bolder financial moves without fearing that one setback will erase everything.

Step 4: Invest Like Your Future Depends On It (Because It Does)

One of the biggest financial mistakes many women make? Not investing early or aggressively enough.

If you kept ₦1 million in a regular savings account for 20 years, inflation would erode its value. But that same amount, invested with even modest returns, could multiply significantly.

Start with:

• Increasing your retirement contributions by just 1%.
• Using the Wealthbuddy app to access simple, high-interest savings and investment options.
• Considering real estate investments (even if you start small).
• Joining an investment club with like-minded women.

Step 5: Find Your Financial Community

Financial journeys shouldn’t be solo expeditions. Find women who inspire and support your goals:

• Join financial education groups (online or in person).
• Consider a financial accountability partner.
• Attend women-focused financial workshops.
• Share your knowledge with other women in your circle.

Common Obstacles (And How to Overcome Them)

“I don’t earn enough to invest.”
Start with just ₦1,000 weekly. What matters is consistency, not the amount.

“My partner handles our finances.”
Partnership is great, but dependency is risky. Schedule monthly financial reviews together so you both understand your full financial picture. (Did you watch the video on our Instagram about the couple’s wealth-building session?)

“Investing seems too complicated.”
Start simple with the Wealthbuddy app—we’ve designed it to make investing straightforward for beginners.

“I have too much debt to think about investing.”
Attack high-interest debt first, but consider investing small amounts simultaneously to build the habit.

Take Action This Week

1. Schedule a “money date” with yourself to review your current financial situation.
2. Open a separate savings account specifically for your emergency fund.
3. Download the Wealthbuddy app and explore the investment options.
4. Have an honest conversation with your partner about shared financial knowledge (if applicable).
5. Increase your financial knowledge by reading one article on investing basics.

Financial independence isn’t about doing everything alone—it’s about having the knowledge, skills, and confidence to make informed decisions about your money.

Whether you’re single, married, divorced, or widowed, your financial well-being ultimately rests in your hands.

You’ve got this, and your Wealthbuddy team is here to support you every step of the way!