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Dr. Chinonso Egemba

@aproko_doctor

Sep 23

12 tweets
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I started putting aside at least 60% of my income, and this is how it changed my life, but before that, let me take you back. I wasn't always a person that saved. After all, this life na one… Until I learned a terrible lesson. Luckily for me, this lesson was early

I believed money was for spending and rightly so, but not all your money is for spending. After medical school, I got a few gigs where I got paid and I was supposed to keep that money in preparation for my housemanship. I earned quite some money in those gigs.

But why save when "They will give you 6 figures in house-job"? So, I spent almost everything - from livin' la vida loca, to spending weekends in hotels because this life na one and I go live am The idea was "Hungry no dey catch doctor", so life was set. Until I started house job

For 16 months, I no see shishi. There was no payment from the government at that time, I saw pepper, literally. I had to buy food on credit from a woman that sold food in the hospital. I was stressed; sold off my personal stuff just to get by.

But every day, I’ll still have to knot a tie, put on a smile and go to work because "Doctor" My blood pressure went through the roof, mental health went to smithereens, just because... adulthood

If I had only saved a portion of what I had made before housejob, I would have it easier at least. My savings would have helped me deal with some of the stress After that period, I have always saved. I started with 10% of my income & slowly increased it till I got to this level

What I use it for, is at my discretion. I am less stressed, I can plan for projects better, I feel more confident about life in general, there's freedom!

If you are just starting out, you need to save, especially now. With the current economic reality, you do not even need a project to save for, just save. With the level of inflation and devaluation currently, you need something that at least helps you hedge against losing money

Currently, I use the Renmoney savings plan and I advise you to do the same. Moved most of my savings out of commercial banks when I learnt that if you withdraw beyond a certain number of times, it affects your interest rates, plus, it's tiny and I'm still losing money.

I use a Smart Goal, which is short-term and assures you of your 10% per annum. But the one I love and use mostly are the Fixed Deposits where I can get as high as 16% per annum…

Unlike some of these other apps you see, me I am happy because I know I can just call them or walk into any of their offices in Lagos and talk to people like Kunle or Nkechi if I have any questions or issues. This is the second thread in my money journey. Hope you're following

I'm doing this for people like me who need direction, to provide things you can act on and use, especially if we share similar backgrounds. For now, just use any of Renmoney’s savings plan and thank me later.

Dr. Chinonso Egemba

@aproko_doctor

Executive Director:@_The100kclub, Medical Doctor, Amaka's hypeman. Actor. Perfume collector. Writer. Knight of the @ICFJ 📧info@aprokodoctor.com

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