Skip to main content

Financial Planning: Effective Antibiotic for your psychological health by Oyedamola Taiwo




Depression is a rampant epidemic that has established its root in our society unnoticed. We have heard of suicidal attempts and eventual executions. Many have been in a bad mood at one point or another and were able to walk through it because they found a solution, that’s the lucky group! We have some other set of people who relished in their horrible conditions till it aggravated into a mental disorder that ultimately suggests the suicide option. There are many causes of depression but all are primarily linked to a need-gap left unfilled; the need for self-actualization, the need for success, love, acceptance and so many others.

Needs-met is a result of resource availability. Resources can range from people, to location, material things, information and money. Yes, Money! Let’s talk about Money. Whether we like to accept it or not, money provides access to many things that we aspire for. In economics, we describe money as a transaction facilitator. Life is a transaction, we exchange value, we exchange emotions, we share ideas, we exchange properties, we change location. Economically, the primary purpose of money is to eliminate friction in transaction and make easy the transfer of value.

You might have prioritized building networks above finances, well you may be right. But, remember, great networks are not picked on the street sides. You need to go to certain places, attend certain conferences and meetings to meet some kind of people. Most of these things are not free, you have to pay! Recreation feeds your emotional and psychological well-being; you need to pay if you are really going to enjoy the fullness of it. If you are a lover of nature like me; you want to see the high mountains, a wide expanse of well-trimmed grasses and a feel of the cool ocean breeze with a perfect view of the blue clouds. Then, you have to make plans to step out of your busy work area to where you can find them; this has financial implications too!


You will have less worries when you can easily access the things you desire and you are less likely to be a victim of depression. Many young people slide into depression because of the feeling of inferiority, “I can’t buy, wear, eat, use what my mates are using”. Well, I am here to tell you that you can if you become astute in planning. Look at your need and your broad desires, identify your priorities, attach costs to them, look at your current income, make plans on how to multiply your income to meet your expensive desires. Then Bingo! You have it. if you need details on how to plan your finances, I will recommend you read previous posts.

You are less bothered about things when you are conscious of the fact that you are moving towards it every day. I will end with an example we all know, if Nigeria were to be human, she would have been so depressed by now, Nigeria have had interesting projections about it. In fact, I was expecting that by 2020, a lot of mighty turn-around would have happened because of the strength in the declaration of vision 2020;20 but here we are in 2019 with ancient challenges. Nobody achieves anything by merely wishing it or being sad about it! You get what you plan and work towards.

Avoid Depression, Start Planning!!

Popular posts from this blog

The Law of Demand and Supply For wealth making (Oyedamola Taiwo) For F&K Savings

The Law of Demand and Supply For wealth making. Next to the introduction of economics as a course is the exposition to how the demand and supply rules and moves an average economic system. I am definitely not here to bore you with economics jargon, I want to tilt your mind in a direction it has probably scarcely explored. This is how it works in the goods market; there is a producer on one side trying to make profit by offering a good/service and on the flip side of the coin is the consumer willingly looking for a product to feed his/her satisfaction in exchange for value. The two parties will have to meet and bargain. Before the transaction can be sealed, the basic requirements of the two parties must be met i.e, the producer must earn profit and the consumer satisfied with the product. Now, you have gotten the basic gist, let me exercise your imagination just a little bit. You want money right? I do too! Now, there is an imaginary money land with producers willing to give ou...

Meet our customer of the month for the month of may - Famoofo Seyi.

Don't just take our word for it when we tell you that saving with us makes hitting your finance goals really easy. Meet our customer of the month for May, Mrs Famoofo Seyi, an entrepreneur based in Ibadan who has found staying focused on her finance goals much easier since she started using our mobile app, in her own words she has been able to save towards particular goals and smash them without stress and her business and financial lifestyle have greatly improved as a result. Be like Famoofo Seyi and join the ranks of those who save smart and better with F&K Savings, you too will find smashing your money goals not stressful at all. Thank you, Mrs Famoofo Seyi for being such an amazing customer

The 80/20 rule: Apply it to your finances and change your life, by Olamide Oseni.

A couple of hundred years back, an Italian economist by the name of Vilfredo Pareto discovered something really really interesting that was going to change how we understand the world. He discovered that he could measure the relationship between cause and effect precisely in mathematical terms (80/20). I know that probably sounds a bit mystifying and confusing, it was for me too, so to break it down further what he discovered was that 80% of results come from 20% of efforts. You are probably as shocked about this and if you are honest a bit doubting too. What this means for you is that: - 80% of the money you make comes from 20% of the time and effort you put in. - 80% of your products are the ones bringing in 20% of the money you make. - 80% of your customers bring in 20% of your income. And it also applies to everyday life too: - 80% of the world's wealth is in the hands of around 20% of the world's population. You probably wear 20% of your clothes 80% of the ...