The moment you get paid and you take two breathes, your entire salary is gone with transport, airtime, data and food. Worst of all, a sudden increase in any bill or a sudden sickness and you find yourself scrambling. 

   Quick context before we begin:  In Nigeria, even the prices of basic goods are high. In 2025, sachet water — a very basic amenity ₦50 naira for one. Saving in Nigeria is high but not impossible. This article will show you  how with 7 smart moves and little discipline, you can save something so you can breathe. 

Let’s get into it. 

RULE 1: Automate your savings instead of relying on willpower. 

The moment your money hits your account, automate about 10-20% to be moved into savings. Think of it as a fixed bill you have to mandatorily pay.  

“If you earn ₦200,000 a month, 10% is ₦20,000. If automated at the end of the year, you should have 240,000 with interest.”

RULE 2: Budget like a pro with simplicity. 

Your funds are not a NASA spreadsheet. A 3-bucket budget is enough. 

• Essentials (50%): Rent, food, utilities, transport
• Financials (20%): Savings, debt repayment, emergency fund
• Lifestyle (30%): Data, airtime, treats, small hangouts

For a  ₦150,000 income:

RULE 3: Use Fintech apps that actually work 

Leave the low-interest savings accounts, your money might lose value. Aim to beat inflation.

• PiggyVest: Safelock, target savings, and small daily withdrawals.
• Cowrywise: Target funds, unit trusts.
• Kuda / ALAT / VBank: Simple savings pots and no-frills accounts.
• Risevest: keep some savings in dollars if you have FX access. Expect tax implications according to 2025 tax rules.

Buy stocks, treasuries, REITs. 

RULE 4: Cut the leakages 

Cut the little-little cash bleeds. Track them. The spontaneous 1ks, urgent 2ks, snacks, bank charges, soft drinks…

• Lunch and takeaway every workday. Try bulk buying and cooking. 
• Daily expensive commutes. Try carpooling or use cheaper transports
• Cancel and unsubscribe from unimportant data streams and subscriptions, no matter how small.
• Withdraw less often. Less cash might mean less untraceable spendings and less bank charges for withdrawals. Use transfers and mobile wallets.

Saving ₦1,000 daily would total ₦30,000 a month. An easy emergency backup. 

RULE 5: Use the starter recipe – The 30/60/90 

1. Day 1–30: Build a ₦30,000 emergency stash using the auto-save technique.
2. Day 31–60: Open a short Treasury bill or little investment fund for the next 90 days. Let interest roll.
3. Day 61–90: Start another 12-month target saver for something important like rent. 

By day 90, you’ll have the discipline to grow long term  money.

RULE 6: Save bonuses like a grown-up

(Hmmhmmm, I said that)

Save those quick “Jaiye Jaiye” money, bonuses, gifts, side-hustle cashes, and dividends using the 50/50split.

• 50% to savings or investment
• 50% to treat yourself. 

“If you get ₦100,000 unexpectedly, you’ve locked in with ₦50,000  that way.”

RULE 7:  Make smart debt decisions. 

Use borrowing to build, not to survive. No go Dey gbezome. Loan apps will tempt you with instant cash, don’t forget their tiny patience

If borrowing:

• Compare interests.
• Use loans for business/income generation, not consumption.
• Where possible, prefer formal bank overdrafts with clear rates over predatory payday apps.

Tax & policy update (2025) that matters for your savings choices

• Nigeria Tax Act 2025: Big changes to how gains are taxed. Some assets now face personal income tax rates on gains. This affects where you put long-term savings (real estate vs digital assets). Check tax treatment before investing. 
• Cash handling & bank charges: CBN’s cash policy includes limits and charges; avoid frequent big cash withdrawals to minimise fees. Consider digital payments and low-fee fintechs. 

Behavioural hacks that actually work in Nigeria

• Public accountability: Tell one trusted friend that you look up to,  your savings target and update weekly. Shame helps. 
• Gamify it: Join a savings challenge on PiggyVest or create office savings contests.
• Use friction: Put money in accounts you can’t withdraw from easily. Locked accounts raise the cost of dipping in.
• Visual goals: Put photos or notes for your goals where you see them daily (rent, school fee, land).

Final: a tiny challenge to start today

Do this now: Set aside ₦1,000 immediately into a locked savings pot. Then  automate ₦2,000 on the 1st of every month from salary and ₦500 weekly. That’s discipline, not luck.

Sources (key references)

• NBS / inflation reports (headline inflation data Aug 2025). Nairametrics
• Central Bank of Nigeria MPC Communique, Sep 23, 2025 (MPR 27.00%). Central Bank of Nigeria
• Nigeria Tax Act / Tax Act 2025 highlights (KPMG / EY summaries). EY+1
• CBN cashless / cash handling charge guidance. Central Bank of Nigeria+1