The Life Skill Schools Forgot to Teach And Why You Can’t Afford to Ignore It Anymore

In our GENZ world, where “soft life” dreams collide with the harsh realities of inflation, job instability, and debt, financial wellness is no longer optional, it’s a survival race where everyone must do what it take. Yet, many people earn money but feel broke, stressed, and directionless.

Why? Because making money is not the same as managing money.

In this article, we will discuss how to achieve true financial wellness, create a realistic budget, and make money work for you regardless of your income level.

What is Financial Wellness (And Why Should You Care)?

Financial wellness is more than having a big paycheck. It’s the confidence, security, and clarity that comes from knowing:

Your bills are paid on time
You’re saving consistently
You can handle emergencies
You’re not drowning in debt
You’re working toward long-term goals

Without it, life feels chaotic and very unplanned, even if you “earn well.”, so it’s not about what you earn but how you prepare, position, and plan your finances

The Hidden Costs of Financial Stress

Financial instability isn’t just a wallet issue, it’s a mental health crisis because it has more todo with how well planned you are.

72% of Nigerians say money is their biggest stressor
Financial anxiety is linked to insomnia, depression, and even heart disease
Money fights are a top cause of breakups and divorces

Mindset First: Rethinking How You See Money

Before any budget works, your mindset must shift.

Ask yourself:

Do I avoid looking at my bank balance out of fear?
Do I spend to impress or escape?
Do I believe more money will solve everything?

Financial wellness starts with accountability not more income.

Step-by-Step Guide to Budgeting (That Actually Works)

Let’s be honest: most people hate budgeting because they see it as punishment. But the right budget is not a cage it’s a permission slip to live wisely.

1. Know Your Numbers

Break your monthly income into clear categories:

Essentials (rent, food, transport)
Financial goals (savings, debt repayment)
Lifestyle (entertainment, data, dining out)

Use the 50/30/20 rule as a base:

50% for needs
30% for wants
20% for savings/debt

2. Track Every Naira

Use budgeting apps like:

PocketGuard
Money Manager
Excel Sheets or Notion templates

Tracking your spending for 30 days can reveal leaks in your finances.

3. Cut Without Suffering

Don’t cut everything just cut mindless spending:

Cancel unused subscriptions
Cook more, order less
Split data or Netflix plans
Buy in bulk when possible

4. Automate Your Savings

Treat savings like rent non-negotiable.

Start with just 10% of your income. Use tools like:

PiggyVest
Cowrywise
Kuda’s saving features

Emergency Fund: Your First Financial Priority

One emergency (job loss, medical bill, car repair) can derail your finances.

Start small: ₦50,000 → ₦100,000 → 3–6 months of expenses

Store it in a separate, accessible account. Not your main debit card.

Debt? Handle It Strategically

All debt is not bad but unmanaged debt is.

If you’re juggling loans, use the “Snowball” or “Avalanche” methods:

Snowball: Pay smallest debts first for motivation
Avalanche: Pay highest-interest debts first to save money

Avoid payday loans unless it’s life-or-death.

Long-Term Financial Wellness Habits

Invest consistently, even small amounts
Review your budget monthly
Build multiple income streams (freelancing, digital products, side hustles)
Financial literacy books/podcasts: “The Psychology of Money,” “Smart Money Woman,” “The Dave Ramsey Show”