GDL InveStory: Episode One

Every week, we ask one customer about their investment journey, how they approach their personal finance, their relationship with money, how they invest, spend, and save.

The first episode of InveStory focuses on a 22-year-old writer who was a part-time smuggler and a gadget freak.

· Occupation: Writer

· Age: 22

· Location: Abuja

· Salary: N120,000/month

When did you first make money?

Boarding school. In my school, having provisions was prohibited so we had this illegal system where people would smuggle basic stuff like sweets & biscuits and sell it at 6x the price. That was the first time I made money for myself.

Oh. So, you were like part of the school mafia?

Hahaha. It wasn’t that serious. I just bought from the ‘’smugglers’’ at a price and sold to other students with extra and made my gain. Everybody was selling something in school. It’s basic economics. Demand and Supply and everything was in demand, from Garri to Nutri C and even Communion bread.

Must have been wild. When did you learn about saving and investments?

It was in my last year in Secondary School. I was saving up money to buy a BB Curve 2 then.

The BB Era. Sounds familiar.

You know! It was the craze back then. Also, after university, I was determined to rent a house and stay back after I graduated so I took up two jobs and started saving aggressively. I was sending it to a friend’s bank account and not investing it. Ignorance.

Yeah. It would have made more in an investment account.

Yes. Exactly. My bank showed me pepper. Anytime I breathe, I get alert. At times, they even deducted my money without telling me.

Mehhhn. We are all victims. With all you’ve learned, would you have done anything differently?

Of course, I should have been investing the money instead of just keeping it in a bank. I can’t make that mistake again.

And what investments do you have now?

I don’t earn as much as I would like but I have an investment account with GDL where I send N25,000 every month and I earn interest monthly. Then I bought a few shares which have been profitable.

What do you think of your relationship with money, good or bad?

Laughs hysterically. It’s both. One thing I know is I can spend indiscriminately on gadgets. When I was in school, I once spent my monthly allowance on a new phone and soaked garri for like a month.

Your heart is strong. Gadgets are your biggest expense?

Yes. I spend on gadgets like a possessed being. Once something new comes out, I start aching to purchase it even if my account balance is negative. Some people have called me a gadget freak, but I don’t mind.

Apart from gadgets, where else does your money go?

Food and Transport. This Abuja drains your pocket. Once you go out, debit alert everywhere.

What’s the craziest (to others) thing you’ve spent money on?

A PS4.

Be serious please

Okay. I ran into a good amount of money last year and I bought a luxury wristwatch. Please don’t judge me abeg.

Hahaha. We understand. Positioning and manifesting your riches into existence

You’re in the spirit.

If you get an insane amount of cash now, what will you buy first?

A car. I’m tired of paying for uber then maybe a second passport.

Maybe?

It depends on the amount of money.

That’s true. So how would you rate your investment prowess on a scale of Elon Musk (Risk Taker) to Warren Buffett (Conservative Investor).

Hahaha. I haven’t been investing for long, but I hope to take big risks like Elon Musk in the future.

Thank you for your time today.

Sure. Anytime.