Personal Finance for Gen Z

Personal Finance for Gen Z

In the HD Tribe Session for October 2022, Alade Elizabeth of MoneyTokWithBúkì taught Tribe members about “Personal Finance for Gen Z.” She exposed us to what personal finance entails, the terms associated with it and how to set financial goals. Without any #FodaAdo, let’s dive into today’s discussion.

To be financially independent, you have to have personal finance skills, and it’s one of the good decisions to make.

hard cash on a briefcase
Photo by Pixabay on

What is Personal Finance?

Personal Finance is the ability to understand how money works, money management, emergency fund, savings, budgeting, and also having a financial goal. At the same time, you must also be interested in how to save money, prepare for unexpected expenses, budget, and spend within your financial means. All these boil down to having the right money mindset.

What is Money Mindset?

A money mindset is about your discipline towards managing your money—your attitude towards your finance. Making a financial decision would significantly impact achieving your financial plans.

What are Financial Goals?

Your financial goal varies from time to time, and that is, as you grow in life.

  1. What are your short-term goals?
  2. What are your long-term goals?
  3. Also, what are you doing currently to achieve those financial goals?
  4. What can you be doing differently to achieve those financial goals?

What is Budgeting?

Budgeting is creating a plan to spend your hard-earned money wisely to meet your financial goals.

Sharing your income amongst the things you will need to do, and this can be done weekly or monthly. Spend 50%, Save 25%, Invest 25%. It varies a lot and depends on what you earn.

Sho get? 🙂

What is An Emergency Fund

It is the money kept aside for unexpected expenses or something happening out of blues. Like medical bills, house repairs, and replacement of stolen goods.

You have to allocate a portion of your income/allowance. If you don’t have any income as a Gen Z, please work at it.

person putting coin in a piggy bank
Photo by maitree rimthong on

What are Savings?

Saving helps when you have a budget—setting aside a certain amount of money from your income. It is the key and discipline; without learning how to save first, you can’t know how to invest.

Savings are for short-term financial goals. You can also create an account on the Cowrywise App to start your savings journey.

No amount is too small to save. Start saving TODAY!

What is Investing?

Investing is putting money in assets with the expectation that they will grow to value in the long run.

Before you invest, you have to look at two sides of a coin.


  • Risk is uncertainty.
  • Return is a reward for investment.

Generally, the higher the risk, the higher the return. The lower the risk, the lower the return. If you are investing in any assets, do your research, and understand what, how, and where you are investing your money into.

Learn more about Fintech Apps for Gen Zs here

If you have any questions, kindly drop them in the comment section. If you will love to interact more with Bukola, please reach out to her via her platforms below.

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