When Emeka got his first job after NYSC, it felt like a dream come true. He was earning ₦65,000 a month as a junior assistant in a small accounting firm in Enugu. For a fresh graduate, that was a good start — or so he thought.
But a few months into the job, Emeka started noticing a pattern. By the 20th of each month, he was broke. He wasn’t wasting money on parties or buying expensive clothes. Still, his account was always empty. He didn’t understand how.
One evening at work, a colleague named Mr. Chuka saw the frustration on his face and invited him for a chat. Chuka shared something simple that changed Emeka’s life: a small notebook — his budget journal.
"Planning your money is more powerful than just earning it,” Chuka said.
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He introduced Emeka to the 50/30/20 rule:
- 50% for essentials (transport, feeding)
- 30% for family needs and extras
- 20% for savings and emergencies
Emeka was skeptical but gave it a try. He started tracking his expenses with a simple Google Sheet. He discovered he was spending over ₦7,000 monthly on random snacks and avoidable transport costs. So he adjusted — started prepping meals and walking short distances. He also set an automatic ₦10,000 transfer to a separate savings account each month.
Six months later, his mother fell ill and needed urgent medical attention. Emeka didn’t panic. He quietly withdrew ₦40,000 from his savings to support her. It was the first time he realized how powerful it is to have a financial cushion.
From there, things improved. He gained confidence, enrolled in free online courses to upskill, and eventually got a promotion that increased his salary by ₦30,000. Instead of increasing his lifestyle, he increased his savings and even started a small poultry side business.
The Lesson?
You don’t need to earn big to live well. You need a plan. Budgeting and saving, no matter how small, give you control over your life. They prepare you for emergencies and create room for opportunities.
So, what about you?
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Are you earning little and wondering why you’re always broke? Try this:
- Track your expenses for one month
- Create a simple budget
- Start saving — even if it’s just ₦5,000 a month
- Automate your savings if possible
Your journey to financial freedom starts with one decision: to plan. Be like Emeka. Let your money work for you — not against you.
Your journey to financial freedom starts with one decision: to plan
Feel free to share this story with someone who just started their career. It might just be what they need to hear today.