For Nigerian youths to begin to make good money and investment decisions that will impact positively on their future, there is a need for them to have sound financial literacy skills, Faith Enang, a Qnet FinGreen ambassador, has said.
Enang, who is also a 300-level student at the University of Lagos, also said that having sound financial literacy among youths is the right step needed to tap into sustainable investment opportunities across many sectors of the economy.
According to Enang, the lack of financial literacy and planning not only affects finances, but also raises critical questions about the financial attitude, decision-making, and knowledge of money handling of a lot of youths.
Sharing her experiences after undergoing a financial literacy training seminar organised by QNET in Lagos recently with the tagged ‘FinGreen Programme,’ Enang said many young people are caught in the web of being unable to control the urge to spend lavishly due to a lack of knowledge about the existing investment opportunities.
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“Financial literacy is an essential life skill one must learn. The important thing is to stay informed and keep learning. When you are financially literate, you are in control of your money. You know how to save for the future, invest long-term, and make your money work for you” Enang said.
She said that without proper financial understanding, the inherent financial indiscipline most Nigerians suffer from will have no end.
“Participating in the FinGreen pilot scheme was a turning point in my life. Prior to the seminar, the only knowledge I had of financial literacy was the lessons learned from following finance experts and coaches on social media and interacting with their content”, she said.
She said that the FinGreen programme opened her eyes to how she can experience financial freedom by learning fitting lessons and calculating financial investments.
“I learned how important it is to have the right mindset about money and every other aspect of life. You can do it on your own if the foundational knowledge of spending wisely has been embedded in you,” she said.
With the new drive to do better financially, Enang said she had a monthly budget, which she does not spend beyond in order to be able to save, invest and grow her investment portfolio in assets such as real estate, cryptocurrency, and commercial papers.
Enang urged the younger generation not to give up and to never doubt investing money because financial education makes investment a gratifying experience.
She called on youths to unlearn all the financial indiscipline habits that add no value and be their own financial advisor.
