From YOLO to legacy: Making money moves that outlive you

Many people approach money with a “You Only Live Once” (YOLO) mentality—spend now, figure things out later. But what if we redefined YOLO? What if, instead of reckless spending, we saw it as “Your Options Secure Legacy Outcomes”? Ultimately, wealth is not solely about the present, but also about the future generations.

One personal experience that shaped my view of wealth was when my father, before his passing, shared proceeds from the sale of my grandmother’s house among his children. She had been gone for 35 years, yet a single financial decision from decades ago was still making an impact. This is the power of financial planning—what you do today can outlive you.

Your Money Choices Impact Three Timelines

Every naira or dollar you earn has a role to play in your financial journey. The way you allocate it affects three critical timelines:

Spending – Taking Care of the Present

We all have immediate needs—food, shelter, transportation, and lifestyle expenses. While enjoying life is important, reckless spending often leads to financial struggles down the line. The key is balance: spend on necessities, enjoy some luxuries within reason, but avoid living paycheck to paycheck.

Savings & Investments – Securing the Future

The money you set aside today determines the quality of life you’ll have tomorrow. Emergency funds, retirement savings, and investments in real estate, stocks, or businesses are what create financial security. The future may seem far off, but time moves quickly. The best time to start securing your financial future was yesterday; the next best time is now.

Debt Repayment – Clearing the Past

Many people are stuck in financial limbo because of past financial choices—loans, credit card debt, or money mismanagement. Debt is not inherently bad, as long as it is not spent on consumables, and it is properly used for business purposes (if that is the purpose), but it must be managed wisely. If you’re drowning in debt, prioritise repayment while ensuring you still save and invest. You can’t build generational wealth with unpaid financial baggage weighing you down.

Legacy: Wealth That Outlives You

True wealth is not just about personal comfort—it’s about creating a financial blueprint that benefits your family, community, and even causes you care about. Imagine if more families passed down assets instead of liabilities. Instead of starting from scratch, the next generation would have a foundation to build upon.

Read also: Building wealth with intention: A lesson for women

Leaving a financial legacy isn’t just for the ultra-wealthy. It can be as simple as:

Owning property that appreciates over time.

Investing in income-generating assets that can support your family.

Setting up trusts or wills to ensure your wealth is distributed properly.

Educating your children about money management so they don’t repeat financial mistakes.

Making the Shift from YOLO to Legacy

If your current approach to money is purely about survival or indulgence, it’s time to shift gears. Every financial decision you make should be a step toward something greater—whether that’s debt freedom, financial independence, or generational wealth.

Here’s how to start:

Automate savings and investments—Treat wealth-building as a non-negotiable expense.

Live below your means—Not to deprive yourself, but to secure better options for the future.

Create multiple income streams—Don’t rely solely on one source of income.

Get financially literate—Knowledge is power, learn about investing, estate planning, and wealth preservation.

Final Thoughts: Build a Financial Story Worth Telling

Every decision you make with your money today is writing a story—one that your future self, children, or even generations after you will read. Will it be a story of struggle and regret or one of wealth and wisdom?

Choose wisely. Build a legacy. And most importantly, ensure that your money moves today to secure your family’s future, long after you’re gone.