Let’s be honest: most of us think if we could just make more money, all our financial problems would disappear like a politician after election day. But here’s a bitter-sweet truth: It’s not just about how much you make, it’s about how you think about money.
Growing up, you probably heard things like, “Money is the root of all evil,” or “Rich people are greedy.” Maybe you believed that you have to hustle endlessly to succeed or that only people “born into money” can truly be wealthy.
Guess what?
These beliefs, these hidden money mindsets are shaping your financial life more than your paycheck is.
Let me tell you a story.
Back in the early days of my hustle, I met two friends let’s call them Emeka and Tunde. Both of them got similar jobs after university, earning about the same salary. Fast forward five years: Emeka was living paycheck to paycheck, constantly borrowing money, while Tunde had started investing in stocks and even bought a plot of land in Ogun State.
Same income, different outcomes. Why?
Because while Emeka thought, “Money is for spending,”Tunde believed, “Money is a tool to build my future.”
Different mindsets, different realities.
So, What Exactly is a Money Mindset?
Your money mindset is your core beliefs and attitudes about money. It influences your decisions how you spend, save, invest, or even avoid money matters.
If your mindset is faulty, it’s like trying to fetch water with a basket. No matter how hard you try, you’ll stay stuck.
The good news?
Mindsets can be rewired. Just like you update your phone’s software (after ignoring the notification for 6 months), you can update your financial beliefs.
Common Toxic Money Mindsets Nigerians Struggle With
1. Scarcity Mentality
Thinking there’s never enough money to go around.
(“Make I just chop today. Tomorrow fit no dey.”)
2. Fear of Investing
Believing the stock market is a gambling den for Yahoo boys and forex scammers.
(Meanwhile, solid companies like Seplat and UBA are building wealth for patient investors.)
3. Instant Gratification Syndrome
Always choosing short-term enjoyment over long-term gains.
(“Why save when I can buy the latest iPhone now and worry later?”)
4. Self-Sabotage
Feeling like you don’t deserve wealth.
(“Rich people life no be for person like me. I go just manage.”)
Recognizing these mindsets is the first step to breaking free.
How to Rewire Your Money Mindset
1. Challenge Your Old Beliefs
If you believe “money is evil,” it’s time to ask yourself: is money really evil, or is it just a tool? The truth is, money amplifies who you already are. A good person with money can build schools and hospitals. A bad person with money… well, we see those headlines every day.
2. Feed Your Mind with New Information
Invest in learning.
Books like “Nigerian Stocks 101” and “Stocks Made Easy” were written for this very reason to show ordinary Nigerians that building wealth is possible, practical, and powerful.
Learning about investments, budgeting, and wealth-building tools helps replace old fears with confidence.
3. Surround Yourself with the Right Community
If you’re always around people who think investing is a scam, guess what? You’ll be scared too. But if you connect with financially-minded communities (like our Astra Fidelis family), you’ll find support, advice, and inspiration to keep growing.
4. Start Acting Like the Person You Want to Become
Want to be a wealthy, responsible person? Start behaving like one even if you’re still building. Budget your income. Save regularly. Invest consistently, even if it’s just N5,000 at first. Small habits create big changes.
5. Celebrate Progress, Not Perfection
You won’t wake up tomorrow with Warren Buffett’s bank account. But each smart decision saving instead of splurging, investing instead of hoarding moves you closer to your goals.
Celebrate those wins, no matter how small.
Real Talk: Your Mind is Your Biggest Asset
Look, no matter how much you earn, if your mind isn’t wired for financial success, you’ll lose it. And no matter how little you earn, if your mind is sharp and disciplined, you’ll build wealth over time.
Imagine planting a mango seed. If you throw it in rocky soil, it won’t grow. But if you plant it in rich soil, water it, and protect it, you’ll have sweet, juicy mangoes for life.
Your money mindset is the soil. Plant wisely.
Actionable Takeaways:
• Write down 3 negative beliefs you have about money. Challenge and reframe them.
• Read one chapter of a financial book this week start with “Nigerian Stocks 101” or “Stocks Made Easy.”
• Commit to investing even a small amount this month it’s about the habit, not the amount.
• Join a financially-focused community that pushes you toward your goals.
At Astra Fidelis, we’re passionate about helping you not just make money but master it. Through our investment books, practical training, and guidance, we’re building a generation of Nigerians who understand, control, and multiply their money.
Remember: wealth isn’t just built in your bank account it’s first built in your mind.
Stay financially empowered,
Fejiro Iyeke
Your Money Guy.
Founder & CEO, Astra Fidelis Ltd.
Helping Nigerians rewire their money mindsets for lasting wealth.