Ruth Eso, a United Kingdom-based business data analyst, has urged professionals, freelancers, and business owners to stop letting their money sit idle and instead put it to work to build sustainable wealth.
Speaking on Thursday at a free financial literacy webinar hosted by the Female Freelancers Network, FFN, the financial adviser emphasised that relying on basic saving habits alone is no longer enough to secure the future due to the continuous impact of inflation.
The virtual masterclass which had participants from Nigeria and the United Kingdom, titled “Investment: Beyond Thrift, Money is Wealth Generation,” was moderated by the founder of FFN, Elizabeth Osayande, who guided the interactive sessions and audience engagements. In her presentation, Eso urged individuals to look at facts and data rather than emotions when making personal finance decisions.
She explained that while saving money is vital for peace of mind and emergencies, saving alone rarely creates wealth because inflation reduces the purchasing power of idle cash over time. She noted that disposable income generally flows into three distinct destinations: consumption (satisfying today), savings (protecting tomorrow), and investment (building the future).
To achieve true financial freedom, she stated that people must shift their perspective and view money not just as something to spend, but as a tool to generate more income.
“Too many people stop at using money just to buy things or leaving it to sit in a savings account,” Eso said. “The wealthy understand that money must be put to work. Investment is what allows your money to grow instead of sleeping.”
During the session, Osayande moderated and coordinated the questions from the audience, sharing her thoughts and insights.
Using a practical example tailored to the Nigerian context, Eso compared two salary earners, Ngozi and Amina, who both earn ₦300,000 monthly. While Ngozi shops impulsively and only saves whatever is left over, Amina splits her income intentionally. Amina allocates 10 per cent each toward emergency savings, treasury bills, active investments, and personal development.
Eso emphasised that the core lesson is the necessity of moving from a single stream of income to multiple streams. To achieve this, she outlined five main asset classes to build a balanced portfolio:
“Financial investments (such as stocks, bonds, and treasury bills); Business investments; Real estate investments; Investing in yourself (learning and skill growth) and Alternative investments (such as gold).”
To protect capital from high-risk mistakes, Eso warned participants to avoid emotional shortcuts and steer clear of platforms promising unrealistic returns. She advised Nigerians to verify interest rates and asset security through official channels, including the Central Bank of Nigeria (CBN) Treasury Bill auction results, licensed investment platforms, and Securities and Exchange Commission (SEC) publications among others.
“Investing is not gambling; it is about making informed choices based on facts,” she noted. “Before you invest, always ask vital questions: What is the expected annual return? What are the risks? Is the platform regulated? And how long will my money be tied up?”
The training concluded with actionable rules for earners, reminding them to always “pay yourself first” by investing a portion of their income immediately, to prioritise consistency over the size of the capital, and to thoroughly understand any asset before putting money into it.
*Feedback from Participants*
For an award-winning journalist, Mrs Kofoworola Belo-Osagie, who shared her thoughts with ladies under the IVLP impact programme, wrote: “Hello ladies, how are you all doing? Yesterday’s webinar by @Queen Elizabeth was really good. Here are three takeaways that I have been ruminating on:
1. Pay yourself first each month.
2. Consistency in investing (the power of compounding)
3. Self development as an important part of investment.
“Today, I want to remind us of the importance of the first takeaway. Since we are at the beginning of a new month, it’s a good time to _Pay yourself_ if you haven’t. You likely got your salary less than a week ago. Don’t finish it by paying everyone and forgetting to reward yourself for putting in the hard work.
Determine a percentage you pay yourself and set it aside. It can be your contribution towards your emergency or investment funds.
Let me recap the main point: *Pay yourself from your salary this month. All the best.”
Another participant based in the UK, who gave his name as Marvine, said: “The webinar was excellent. And the investment talk was really a reflective one.”
For a finance year student at the University of Lagos, UNILAG, Chioma Eze: “The webinar is rated 5/5. The facilitator simplified the concept of investment.”
Meanwhile, in his vote of thanks, one of FFN’s volunteers, Leonard Okafor, who appreciated the facilitator for her insight, added that investing now is highly valued for Nigerians, especially considering that the Nigerian government and corporate organisations give higher interest rates or return-on-investment.
Okafor noted that people can also make use of reliable platforms such as Bamboo and Cowry to invest and monitor their investments. This is as he said: “Beyond that recognized institutions and government routes still remain the best options to understand investments.”
While Engr. Jeff Osayande, FFN’s Technical Manager ensured the smooth coordination of the webinar, one of FFN’s pioneer members, Madam Christiana Alabi-Akanbi in her vote of thanks who appreciated the guest, FFN’s grand patron, Mr Lekan Otofudunrin, for attending the event, and the host, Mrs Osayande, for her grit and determination, called on participants to reflect on the nuggets on savings and investments provided during the webinar.
*ABOUT FEMALE FREELANCERS NETWORK, FFN*
The Female Freelancers Network, FFN, formerly known as the Female Freelancers Federation, FFF, is a platform dedicated to giving freelancers, especially females, a voice and a platform to shine & strive.
We are also a network of like-minded people, where resources are shared, collaborations and networks are formed, and forums are organised where veterans in the industry come together to share experiences and tips on how to improve as journalists.
FFN organises a monthly media exposé every last Thursday of the month, where mentors come to speak on relevant topics and give encouragement to freelancers who seek to make an impact locally and globally.
Since its inception in April this year (2023), over 500 persons have been trained by the various media exposés that have been organised. For instance, our first facilitator was Mr Lekan Otofudunrin, a Media Career Development Specialist who spoke on: Tips on Investment as a Freelance Journalist.
We also have had exposés on the following: “Becoming a Global Journalist; Gaining Global Relevance via Pitching; and The Rudiments of Pitching and Winning; by Madam Joke Kujenya and Madam Juliana Francis.
Others are:” Mental Health and Well-being of Journalists; Navigating AI and Journalism; The World of Digital Security, and Your Brand Your Worth, facilitated by renowned Nigerian-Canadian Journalist, and PR specialist, Esther Ijewere.
We have, since our inception, had other guests come speak to us on various topical issues, not only on journalism, but also in other spheres.
We hope that FFN will be a centre port for journalists and others who need support, mentorship, resources, and a platform to excel.
*Media Contact:
Female Freelancers Network, FFN
Ndigwe Ifunanya
09012327828
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