MoneybyZikoko: She Took an ₦80m Loan to Study Abroad

Good morning ☀️

A few weeks ago, we published an entry under this newsletter’s “Aunty M” segment that hit a nerve. The lady who sent us the dilemma works in a great company and earns reasonably well, but she’s unhappy and looking for a way out without a plan. She’s burnt out.

When we published the same entry on social media, about 70% of the comments the post elicited were about how relatable the lady’s struggles were. I thought so, too. I’ve been there. My friends have been there. Burnout is expensive.

Now, this week’s Naira Life story also explores burnout and how it threatens [young] professionals’ job fulfilment and potentially affects their finances. The question to ask is, what’s it like for this subject in the context of her #NairaLife?

In this letter:

• #NairaLife: She Earns Almost ₦2m/Month, but Is Considering Indefinite Unemployment
• Love Currency:The Ibadan Lover Girl Spoiling Her Boyfriend With a ₦120k/Month Salary
• I Took an ₦80m Loan to Pursue My Biggest Dream Yet
• Aunty M: What’s the Best Investment Portfolio for a Nigerian Civil Servant?
• Where The Money At?!

Following her big break in 2021, this 32-year-old sales manager’s income has been on an upward trajectory.

The only problem? She’s now navigating burnout and thinks starting over might be the fix.

This is her #NairaLife

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One thing about Arinola*, she spares no expense in caring for her boyfriend. She spends over 90% of her income on her relationship and is now trying to figure out how to save for a possible wedding next year.

She talks about it on #LoveCurrency.

Read the full story here

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Kike* (27) is no stranger to the loan system. She’s been at it since she took her first ₦50k loan in 2019. It’s 2024, and she just unlocked a whole new risk level — taking out almost ₦80m in student loans to pursue an MBA.

How’s that going?

Read the full story here

I need to grow my finances from meagre to something big. I need information on the investment portfolio that will best serve a civil servant from eastern Nigeria. Thanks. – Yugos, 39.

Hi Yugos, we need a few more details to help you. With the little you’ve shared, I suggest investing in the stock market for beginners. Still, the investment portfolio you should choose depends on many factors, including your income level, risk tolerance, time horizon, and much more

One important thing to note: When investing in the stock market, please realise that “big money” takes time, consistency, dedication to your goals, and years.

What you want to do is take a fixed percentage of your income and purchase exchange-traded funds (ETFs). This product allows you to invest in various companies in the stock market at one time today. You can open an account with Chaka, Bamboo or Trove and start investing in the US stock market. You won’t see significant gains immediately, but your portfolio can grow over time.

Again, consistency and investing in stable economies (e.g., the US and Canada) are essential.

I hope this is enough to get you started. Good luck.

Xoxo,

Reni

• If you’re here, you probably have a money or work dilemma. Ask your question and we’ll figure out an actionable solution for you.