Have you ever felt like you’re stuck in a financial hamster wheel? You hustle day in, day out, but the gap between your salary and your dreams seems endless. Sounds familiar, right? For many Nigerians, building wealth feels like a far-off goal something only the “lucky” or well-connected can achieve. But what if I told you that you can start building wealth, even with a tight budget or little to no resources? It’s not a pipe dream, it’s a reality you can create with the right mindset, strategies, and a bit of financial savvy.

Let me take you on a journey. Imagine you’re back in secondary school, and all you want is to be able to buy the latest sneakers like your friends. But your parents aren’t able to fund that, and your pocket money barely covers a cup of garri, let alone a pair of Jordans. So what do you do? You start selling chin-chin and puff-puff at school during breaks. Before you know it, your hustle grows, and you’re not just buying sneakers you’re buying your first phone, and then a second-hand laptop. You’re slowly building your wealth, bit by bit, starting with a simple idea and a small pocket of capital. That’s how wealth is built, one step at a time.

Now, let’s break this down. Building wealth doesn’t require a windfall of cash or a rich uncle to suddenly appear in your life. It starts with you taking that first, small step and setting the foundation for your financial future.

Step 1: Start Where You Are

No, you don’t need a big salary to begin your wealth journey. You need discipline, focus, and a little creativity. Let’s say you’re working with just N10,000 in savings. That might not sound like much, but let me tell you, it’s more than enough to start building wealth. Start small, but start now.

If you’re not already saving, the first step is to make it a habit. Set aside a small percentage of your income, no matter how little, and put it into a savings account or a low-risk investment. Even if it’s just N5000 a week, that’s N20,000 by the end of the month. Multiply that by 12, and in a year, you’ll have N240,000 to invest in something more significant, like stocks, real estate, or a small business.

Step 2: Learn, Unlearn, and Relearn

The key to wealth-building is education – and no, I’m not talking about getting a degree in finance (although, it wouldn’t hurt). Start by learning the basics of personal finance. Understand the importance of budgeting, savings, and investing. There’s a wealth of free knowledge out there books, blogs, YouTube channels all waiting for you to take advantage of.

For example, you can check out “Nigerian Stocks 101” and “Stocks Made Easy”. These resources break down the complexities of the Nigerian stock market into simple, understandable steps. Trust me, once you learn how to invest even a small amount, you’ll feel like you’ve cracked the code to financial freedom.

Step 3: Make Smart Investments

With your savings growing, it’s time to make your money work for you. Investing is a powerful tool for building wealth, and it doesn’t require a massive initial investment. You can start by investing in Nigerian stocks. Remember, the market might seem intimidating, but there are opportunities that can yield solid returns, even in the short term.

Take Seplat Energy as an example a stock with steady growth and dividends. Over time, your small investment could multiply. You can also explore other sectors like tech and banking, which have a long history of success in Nigeria.

But don’t just throw your money at anything. That’s why we offer our Portfolio Setup and Management Service at Astra Fidelis. We help you assess your risk profile and create a customized portfolio that matches your financial goals. Whether you’re a conservative investor or someone looking for higher returns, we’ll guide you through the process and make sure your investments are aligned with your future.

Step 4: Build Multiple Streams of Income

We’ve all heard the saying, “Don’t put all your eggs in one basket.” Well, it’s true. One of the fastest ways to build wealth is by diversifying your income. Don’t rely solely on your salary. Look for ways to build other income streams, whether it’s from a side hustle, rental income, or dividends from your investments.

And don’t forget: It doesn’t have to be a huge side business. Remember my school-time hustle with puff-puff and chin-chin? That simple side gig started as a small idea but grew into something that set me on the path to financial freedom.

Step 5: Stay Consistent and Be Patient

Here’s the truth: building wealth takes time. It’s not about overnight success. But, if you stick to your savings plan, make smart investments, and diversify your income, the results will speak for themselves.

As they say, “The best time to plant a tree was 20 years ago. The second-best time is now.” Start today. You don’t need a fortune to begin just a commitment to your future and a willingness to learn and grow.
Actionable Takeaways:

Start Small: Begin with a portion of your income or savings.

Learn & Invest: Take advantage of free educational resources like “Nigerian Stocks 101”.

Invest Wisely: Start with Nigerian stocks or other low-risk investment opportunities.

Diversify: Look for additional income streams and start a side hustle.
Stay Committed: Wealth takes time, so stick with your plan and watch your money grow.

At Astra Fidelis, we’re here to help you build wealth, no matter where you’re starting from. From portfolio management to educational resources like “Stocks Made Easy”, we provide the tools and guidance you need to succeed. Ready to take the first step? Let’s make your financial dreams a reality.

Fejiro, Your Money Guy, is the founder and CEO of Astra Fidelis Ltd.