Tosin Praise Fowowe, tosin praise-fowowe, financial coach, family finance coaching, personal finance, financial future freedom,
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I guess we are just naturals when it comes to expressing the good, the bad, and the ugly in situations.

Naturally so, our wiring HAS a huge part to play in this. What we seek, we find… YES OR NO? I thought so too.

I had an encounter at the salon yesterday and it was another WAKE-UP call to address this issue. Well, I didn’t follow the first NUDGE, so I might as well just do it now.

In Nigeria, we have been having this running battle with cost of living spiraling out of control. Everything seems to have a mind of their own and just keeps demanding more than most average people can afford to pay. We have been told to tighten our belts and watch out costs, vis-a-vis income. Lifestyle adjustments here and there, increase earning capacity and cut down on show-off (we are pretty good at that, you know).

This woman enters the salon to get her hair done because it’s her daughter’s birthday. From the moment she stepped in, you would know that the economy has had its fair share of impact on her.

She went on and on about how she can’t spend so much on her hair as the economy is bad. She had nothing positive to say about the economy and how it impacts her finances. She had entered the panic mode.

In this state of mind, she cannot and may not find strength to grow, thrive and survive these times. She may plunge herself into frustration, and then depression. She has put herself in a state where she cannot see anything positive. This is called a dis-empowering state.

When faced with situations like this, especially in these times, the first step you need to take is to press the “pause” button. Take a chill pill, step back, and analyze the situation. Ask yourself the following questions:

– What is the real situation here?

– What are the experts saying?

– What does this mean for us (the couple) and our family (with the children and or other dependants)?

Follow this up with talking to an expert, lay the cards on the table, and go through the possibilities together. This gives you some measure of tension release and helps you look in the direction you have not looked at before on your own.

It also helps you to outline your next steps and a guide to navigate the times. With the increase in attempted suicide, frustration and depression around, there is need to have an outlet for the steam and get a strong focus of direction.

Thirdly, have a family round-table and lay the cards bare. You have been equipped with personal and professional view points; these will empower you to handle the communication with your kids well.

This is not the time to play the card of “Our children are too young to understand” or “My spouse won’t understand” or whatever excuse you have. This is time to show that you are indeed a team and work as such.

The button to delete in this season is the “panic” button. This button only makes a bad situation worse. Throw it out into the ocean and calm down.

Tosin Praise-Fowowe
Your Family Finance Coach


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Tosin Praise Fowowe
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