The need for Nigerian students to imbibe the culture of Financial prudence for a better and secured future has once again brought to the front burner.
This was emphasized during a lecture at Ikeja Grammar School, Bolade Oshodi, Lagos to commemorate the year 2022 Financial Literacy day organized by the Nigeria Deposit Insurance Corporation, NDIC.
Delivering a paper, Barrister Okolonji noted that Financial Literacy is an Important Part of Avoiding Financial Mistakes and Planning for a Strong, Secure Financial Future and compulsory model that must be inclusive in the academic curriculum.
While stressing the need to address the situation from the root to the top, the guest speaker said most successful people in life are the ones who ask questions, with the spirit of learning and pushing themselves to the top.
“The amount of money you have has got nothing to do with what you earn.. people earning a million dollars a year can have no money and.. People earning $35,000 a year can be quite well off. It’s not what you earn, it’s what you spend”.
While encouraging the students to imbibe the spirit of investment no matter how little noted that Investing is laying out money now to get more money back in the future, an approach he said is most fascinating to the younger generation.
“Investing your money is designed to allow your money grow over time. There are risks involved in investing, but when you understand the how, it’s an opportunity to make your money work for you.
Put at least 10% of the money you make into your investment bucket. as a young person, this can include:
Birthday money, Money from people you work for or Money given to you from your parents, all this can shoot you up to your financial independence”.
The annual financial literacy day also provided the chance to educate young people on how to keep their monies safe at designated banks instead of keeping them in an unsecured environment to be mutilated by termites or stolen.