I Just Got Paid Some Thousands of Naira: Save it, Invest or Spend it?

So you just got paid some thousands of Naira into your account right?

Surely, a lot should be crossing your mind right about now in relation to; what decision should I take on these funds in my bank account. Should I save, invest or trade it with the beauty of live?

Well, it’s obvious most especially if it’s your first time getting hold of such amount. Remember, many have been there before you yet, they keep pushing harder day after day.

First, I will say;

You shouldn’t feel relaxed just yet; for there are lot more to come from where the initial one came in.

However, the above statement is mostly true when you are a freelancer, or maybe someone who trade his service for money.

The piece on this page is nothing other than an advice to young Nigerian youths. It is no lie that there are lots of flashy things to consider buying most especially if you have enough fund. But wait!

You need to ask yourself the following questions;

  • Is that the best decision now?
  • What if something happens and I lost hold of the thing I just acquired.
  • Does it thing I intend purchasing need some basic maintenance which may cost me and will I be able to finance al expenses in maintaining it?
  • Or maybe; I just save my money? No!
  • Is investing a good idea to consider now?

These are common questions that will give sure help you in making the best decisions for your finance. If you really can’t help it yet; you need a helping hand then I am glad to have you here.

You will get hold on this page; how to properly manage your finances. Most especially if this is your first thousands. I know it might seem odd advising a grown-up how to manage money that belongs to him/her. There is always a need for something if you ask me. For instance, why do you always seek for financial advice before buying a share in the stock market?

So as not to bet you bored. Let’s check out some common thoughts that are most likely to cross your mind when you just got paid some thousands (it might be Millions too) of Naira into your accounts.

All Time Money Management Thoughts

There are always three (3) thoughts which will cross your mind most especially if you hit a new height in finance/money. These three thoughts are most likely to be;

  • should I save it
  • Spend it, or;
  • Invest it

Even as there is no enough data from a scientific research report or theory to back up these 3 claims, one can clearly think and visualize the truth. Read as I emphasize more.

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Thought 1: Should I save it?

This is one common thought in the mind of most young adults. It is indeed a wise decision to save money, who can deny this fact? I guess only few or maybe none. However, even as saving money is brilliant decision, it still has some pros and cons to look out for before finalizing on what to do.


  • It helps you get access to fund in time of emergencies
  • You enjoy financial security


  • Probability of having enough money in the long future in thin due to inflation
  • You might end up saving for your next of KIN because no one knows if he/she will be alive to enjoy tomorrow

From the above pros and cons, you’ll realize there are lots of things to consider before/while saving your fund as a Nigerian youth.

Thought 1: Should I spend it?

Spending your income is a cool decision too (most especially if you are avoiding cons number 2 on saving). In fact, this is usually the first though which may come through your mind if you hit a large sum of money. You’ll be like, “let me go out and enjoy myself besides, nobody knows tomorrow”.

Sure it is true. However, you might still want to look out for some pros and cons of spending your income.


  • You’ll sure and a good time
  • Get all the necessary things you like at early time


  • You are most likely to lack fund in times of emergency or need
  • You will always be broke

From above points, you’ll see the cons on spending have a lot of weight compared to the pros. Well, we aren’t finalizing anything yet. The sum up will be available as you continue reading.

Thought 1: Should I Invest it?

This is yet another thought that can come to your mind if you just got paid. Funny enough, it always comes at the last place. Is it because is the less powerful or boring one? I really can’t answer this now.

I will live you to your faith for now while you look out for some pros and cons of investing your money as a young Nigerian youth.


  • Probability of living a great live thereafter is high (75%)


  • You’ll lack fund for the mean time or maybe, immediately after you just got paid some thousands/millions of Naira.
  • There are chances you might lose your invested capital (losing money to the market).
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Am sure you are really confused on the best option to go for when you just got paid a large sum of money to your Nigerian bank account. Well, am not referring to loans here. There are tons of business ideas that can fetch you a lot of income as a Nigerian even having a capital.

Best Money Management Advice for Nigerian Youths 2022 (Just Got Paid)

The best money management advice for Nigerian youths may vary between individuals; it is usually based on some common factors. These include;

  • Income source
  • Amount
  • Possibility of getting more money from income source or other businesses.

These three key factors are crucial in relation to money management (how & what to do with my money). I believe they are self-explanatory therefore, so am not going to go through them in details. What I want to focus more is save, spend or invest your money most especially if you hit an unusual sum.

My pick

From the three (3) thoughts I mentioned above on this page, the best financial/money advice I can give to young Nigerian youth is invest.

Investing however, is not the best decision if you have no knowledge of profitable business to venture into. Even at that, you can lay low and seek for financial assistance from professionals or better still, make some research on profitable business ideas/companies you can invest your money on.

Why Investing Money is the Best Decision

  • Take for instance the current Nigerian situation where the country’s economy is held upon by a half brick. Anything can happen at an unusual time and chances of recovering could be really hard due to certain factors.
  • Investing your fund as a young Nigeria gives you a better chance of being independent in the future. Wait! Do you think top ranking entrepreneurs in Nigeria like Dangote (current richest man in Africa by Forbes), Dantata, Atiku, Adeleke, Wale Adenuga etc didn’t invest when they are much younger? The creasiest advice anyone can give you is recommend you to spend more.

How to Invest your Money in Nigeria as a Youth

Even as investing is the best option among the three thoughts, it is also one of the hardest thing to do. This is because, you will have to make research, analyze before selection of ideas/businesses to venture into which can also be filtered. See below for a detailed explanation;

Pick a Niche of Interest

The first step to take when you just got paid and need as invest for you to pick a niche of interest. This is really simple, just as yourself what you love doing most. Now take a piece of paper or better still, get a writing note and input at least 5 of them. Now you can proceed to the next stage.

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Research and Filter

This step isn’t as easy as picking a niche as it requires deep concentration and time. From the interest list you gathered above, can begin this process by searching them individually. See top things to consider checking for your filtration below;

  • Possibility of monetizing
  • Is it high in demand or problem solving
  • Competition in the market
  • Is it an evergreen niche/business idea
  • How long before my investment returns

These 5 questions will give you a head start in filtering the best investment idea/business idea to venture into.


Now the main idea analysis comes in place. Here you are to make in-depth research on that business idea. Seeking for helping hands from experts or maybe, people is same field already can help give you a boost.

Take for instance; you have real estate in mind. After making your research, you also need to reach out to others to know their opinion, risks involved and other special necessities. However, there are some investment fields that requires more than that, check out crypto here; you may need to have a personal tutor if you want to grow within a short period of time.

Enter the Market in Full Force

Now that you have gathered all ideas and resources needed. You can jump into it with full force (hitting with all you’ve got). However, this doesn’t mean investing 100% of the money you just got paid.

You sure will see results after some time while practicing, implementing and making correction (that’s if the investment option you take requires personal effort).

Some investment options work on auto-pilot. This means, you just have to keep your money in it while you keep getting returns.

Just Got Paid: Top Businesses to Invest your Money in Nigeria

There are quite long lists of businesses you can invest your money into and make high ROI in Nigeria. Below you will find a list of top 5 money making ideas/businesses to invest your; “just got paid money” in Nigeria. We advise you conduct further research before investing.

  • Real Estate
  • Agricultural Farming
  • Logistics and Procurement
  • Blockchain Technologies/Web 3.0
  • Buy Shares from Preforming Companies

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