5 Truths Every Woman Should Know About Money

Building good money habits will make your life better. The best part is that it can be learned and it’s in the little things.

Kuda App
4 min readMar 26, 2024

Happy Women’s Month! As we keep inspiring inclusion for women, it’s time to also inspire financial inclusion for women, starting with your own money.

When it comes to finances, your habits often make a difference incrementally, and just like building actual muscles, the more you flex your money muscles with the right habits, the stronger (and wiser) you become with handling your money.

Here’s what you need to know now to be smarter with your money.

  1. Saving as little as ₦500 every day will make a difference to your account balance.

It’s true that your savings will save you. And thankfully, you can save any amount that’s convenient for you daily, weekly, or monthly with the Pockets feature on your Kuda app.

2. Spending on your guilty pleasures too often will add up.

Splurging on things like fancy meals or online shopping feels great in the moment, but it can sneakily mess up your money situation. Basically, when we’re feeling all sorts of emotions — happy, sad, bored, you name it — we might treat ourselves to feel better. But those little treats add up fast, and before you know it, you’re spending a lot each month on things you don’t really need. It’s like, one minute you’re buying a cute shirt because it’s been a rough week, and the next, you’re wondering where all your money went. Keeping an eye on this kind of spending is key because it can throw off your budget and make it harder to save for the big things you actually want or need.

3. You don’t necessarily need to change your lifestyle just because you’re making more money.

Think about it: If you start splurging just because your bank account is looking healthier, you’ll end up stuck in a cycle where you always need more money to keep up with your new spending habits. It’s like running on a treadmill but instead of getting anywhere, you’re just chasing after more things. Plus, trying to keep up with others or show off your money can really mess with your head and your relationships. So, even if you’re seeing more money coming in, it’s smarter to take it easy, save up, and focus on what truly brings you joy, not just what looks good on social media.

4. Perks are always useful, seriously.

If your workplace offers perks like health insurance, a gym membership, or spa benefits, make sure you take full advantage of them. Work perks are your entitlement and they will save you thousands of naira in the long run. You’re doing the job; relax and enjoy the benefits that come with it.

5. A budget will keep you going.

Making a budget and tracking it consistently will help you catch small, expenses you would otherwise miss. Here’s a simple exercise to try: For a week, write down exactly how much you’re spending on food, snacks, water, and drinks. Review your spending for the week, then try to cut back on excesses in the following week. Do the same thing with your other expenses.

By paying attention to the little details and taking intentional steps toward financial growth, you can do big things with your money.

Cheers to you for taking charge of your money one small step at a time! 🥂