Money by Zikoko
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Naira Life Vol 130

Naira Life Vol 130

Also: This 26-year-old feels stuck in her family business

Toheeb Lanlehin
April 28, 2025

Volume 130

Good morning ☀️

What happens when your partner might be — for the lack better word — your financial opp?

On this week’s Love Currency, you’ll find the frustrations of a woman batling her husband’s impulsive habit of giving away their money — mostly to the church. She’s stuck between navigating this and the real need to secure their future. How are they making it work?

The subject of this week’s #NairaLife has a different kind of struggle. Four years ago, she agreed to manager her father’s business. Now, while the money works for her, she’s wondering is she traded her dreams for a steady income.

And there’s Aliya* (22), who has been fighting for her freedom since she was 17. She shares how financial independence helped her break free from an abusive family and build a new life on her own terms.

Let's get into it.

In this letter:

Naira Life: The Trader Who Feels Stuck in her Family Business
Love Currency: She’s Trying to Secure Their Financial Future, but Her Husband Might Be Her Biggest Blocker
My Family’s Abuse Pushed Me to Become Financially Independent
Ask Aunty M: I helped a family member pay off their debt. Now I’m stuck in a cycle of debt
Where The Money At?!

The #NairaLife of a Trader Who Feels Stuck in the Family Business

The 26-year-old in this #NairaLife was on the verge of mapping out a potential career path before she agreed to manage her father’s business.

Four years later, her finances are in better shape, but her career prospects and sense of achievement? Not so much.

This is her #NairaLife

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Love Currency: She’s Trying to Secure Their Financial Future, but Her Husband Might Be Her Biggest Blocker

Anita* (27) and Hosea* (37) have been together since 2018, but it wasn’t until they got married in 2023 that she noticed his money habits.

On #LoveCurrency, she talks about coming to terms with Hosea’s impulsive need to give all their money to the church and why they work despite that. Read the full story

My Family’s Abuse Pushed Me to Become Financially Independent

Aliya* (22) has been earning money since she was 17, primarily driven by necessity.

In this story, she shares how money brought her independence from her abusive family, allowed her to self-sponsor her education and pursue a better life. Read the full story

Ask Aunty M with Reni

I helped a family member pay off a substantial debt. To do this, I used all my emergency savings. Then things started to spiral out of control; unexpected expenses popped up, and soon I couldn’t save anymore. Worse, my income couldn’t stretch to the end of the month, so I started taking out loans. Now I’m stuck in a cycle of debt, and the interest payments are killing me. Since the start of the year, at least half of my income has been allocated to servicing these loans, and the other half barely covers my living expenses. I haven’t been able to save or rebuild my emergency savings. I wish to hit the reset button. How do I get out of this? - Abimbola, 26

Hi Abimbola. I think it’s great that you’re self-aware and know the mistakes that got you here. It will help you get out of the situation you’re in.

The first thing I need you to do is to track your spending and know where your money is going every month. How much are you spending on your fixed expenses? This gives you a sense of how much money comes and leaves your account every month.

The next thing I need you to do is figure out how long it will take you to pay off your debt at the current rate. Let’s say you’re paying ₦40k towards your debt every month, how much is the total value of your loan plus interest? And how long will it take you to get out? Many people are unaware of how long it will take them to pay off their loans, which can be demotivating. Knowing how long it will take allows you to establish a timeline and determine how much you need to increase your repayment to get out of it faster.

You also have to try to make more money, unfortunately. Currently, your income is likely not enough to support the loans you’re repaying. So you could look out for opportunities to get a new job, a second job or a side hustle … something. It just needs to be consistent so you can pay more towards your debt.

Additionally, you could take a loan from a family member or a friend. With this, you will simply repay the lender every month — this is typically at a zero per cent interest rate. So you can get out without paying an exorbitant amount of money in interest payments. I want to emphasise, though, that you don’t take this and not pay your family member back. You don’t want to destroy the relationship.

Once you’ve started to make a bit more money, you can begin to rebuild your emergency funds. Again, you’re very self-aware, and I know you can get out of this. I hope this is helpful. I’m rooting for you.

Xoxo, Reni

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Where The Money At?!

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Again, don’t mention. We gatchu.