Oh my 20’s!! So much to say on this decade of my life as I look forward to transitioning into my 30’s this year! I look back over the last 10 years and I am filled with a myriad of emotions as I examine some of the decisions I made - good, bad, some with devastating effects & some that presented me with tremendous growth opportunities. If I were to sum up my 20’s with one word it will be - INTERESTING! LOL; Like literally!!!!
Nevertheless, there was some decisions I made that I am very proud of, as they worked together to make me who I am today. I will be sharing each decision over the course of a few days/weeks. Interested in going on this ride with me? Then let's get started.
The first decision?
a. Good money habits! I will generally break them down into 4 broad points:
a. Living within your means, never spend above your income.
b. Investing in long-term assets
c. Personal finance (budgeting)
d. Having multiple streams of income
Early on in my 20's, I learned the efficacy of being financially prudent and live within my means, never letting my expenses exceed my income. I’m sure you’ve seen/read this phrase “Never spend above your means” multiple times and as cliche as it sounds, it is nothing but the truth.
When I started my career in 2014 as a fresh graduate, I earned 20,000 naira monthly ($130 back in the day). At that time, I had friends who earned 200k+ and could afford expensive hairs/wigs, clothes, high-end phones & could afford to dine at lush restaurants.
I really wanted to do those things too, like realllyyyyyyyyyy!! However, I knew it wasn't a sustainable lifestyle at the time, based on my income. Even when I got a raise to NGN60,000, I still never indulged in unnecessary spending that could put me in debt and have me living from pay-check to pay-check.
What did I do? Well I drafted a budget for my income (10% tithe, 50% expenses, 40% savings). Now this wasn't a hard or fast rule (however my tithe was and still is fixed and non-negotiable)! Some months my expenses were way higher than usual and I ended up saving nothing while other times I had extra income (bonuses at work, gifts from friends etc) and I was able to save more. Regardless, having that formula put a structure to my finances that I still live by today.
As my net income increased, I started investing my money in stocks, real estate & mutual funds. I learnt that the secret to long-term generational wealth is investing and enjoying compound gains over time and I still keep up with that practice, even till today.
Also, given the state of the economy globally, it is not unusual for anyone to have multiple streams of income. It is also a great wealth-generation practice that I seek to explore & deepen in 2023, and beyond.
Morale of the story? Establishing good money habits as early as possible sets you up for a life of abundance, contentment and ease. Also generations to come will thank you for how well you stewarded your finances & built long-lasting wealth for them.
b. Clear Career Path/Vision: I always knew I wanted to be in the communication/marketing industry because that is where a bulk of my skills and expertise lie. Understanding of the marketing industry, advertising, consumer psychology and behavioural patterns come naturally to me and excite me.
When I graduated college, it was common for most people to secure an entry level position at a bank because there were always job openings there. However, I knew the banking industry was not for me and I wouldn’t thrive there, so I patiently applied to jobs within my industry and as the saying goes ‘the patient dog eats the fattest bone”. I got my first job which launched me into the AdTech industry and the rest they say is history.
I guess the morale of the story here is if you don't stand for something, you'll fall for anything. Be confident in who you are and the vision you have for yourself and regardless of what everyone else is doing around you, stay committed to your journey and it will pay off. Trust me!
c. Starting early: One thing I am also grateful for and proud of is not wasting the opportunity of starting my career and life early. I was blessed with the gift of having private education by my parents, all the way to my post-graduate degree. I saw the opportunity for what it was and utilized it effectively.
Growing up in a strict Nigerian household meant doing what you should, when you should and how you should. That was how I was raised and that has been my guiding compass most of my life.
Starting early meant I had room for growth, room to make mistakes and learn from them; opportunity to build a strong brand equity early on and utilize the energy I had as a young person. I was able to decide with jobs I wanted and those I didn’t because I had the advantage of not being in a desperate position. So if you have similar opportunities, please don't waste it! There are many people who would love to be as fortunate as you are.
d. Relationships: Oh, if there’s one thing my 20’s taught me is building solid professional and personal relationships, while also closing the door to toxic ones. Some relationships can literally make or mar you and though I had my fair share of toxic relationships (trust me guys, they are everywhere) I’m glad I learnt the lessons required and moved on by cutting off access to me.
Seriously, let them go! That is the only way you can move forward, for yourself. Having good relationship management skills have helped me tremendously in my career and I have since learned that people buy from who they know & like much more than what is being sold. Relationship is the currency for quantum leaps in your career and personal development.
I hope you found these lessons insightful and enlightening. Feel free to reach out to me on Linkedin if you’d like to book a 1:1 session to delve deeper into your career goals or personal development and I’d be more than happy to book your a slot.
Wishing you a great and productive week guys.
