Sticking to a financial plan is hard. On paper, everything looks neat. You write down your expenses, set your savings goals, and maybe even build a little emergency fund. And then life shows up.
An unexpected bill. A birthday party you forgot. That small data subscription that somehow costs more than your rent. Before you know it, your budget is a mess, and your financial plan? Out the window. You overspend. You forget to track. You feel guilty. And soon, you are back at square one wondering if you are just bad at this money thing.
To be clear, you are not. You are not alone.
1. Pause and assess
First thing, do not panic. Just because you have fallen off track does not mean you have failed. Money management is a journey, not a perfect routine.
Take a moment to figure out what went wrong. Was your budget too strict? Did you forget to account for certain expenses? Were you saving too aggressively?
Identify Your Money Triggers. You know that thing that always derails your budget? For some, it is impulse shopping. For others, it is peer pressure. Track where the slip-ups happen, and you will start to see a pattern. Once you know your triggers, you can plan around them, understanding the why helps you fix the how.
2. Simplify your goals
Sometimes, the issue is not that you do not have discipline, it is not that your plan is too complicated.
Instead of trying to save for five different things at once, focus on one or two short-term goals. Maybe it is building a three-month emergency fund or paying off a small loan.
Start small. Win there. Then grow.
3. Automate what you can
You know how sometimes you forget to save, and then by the time you remember, there is nothing left to save?
Automate it. Set up automatic transfers even if it is just ₦5000 a week. Small, regular savings add up faster than you think. The less you have to think about saving, the easier it gets.
4. Budget for real life not ideal life
It is tempting to create a budget based on your best self. The version of you that never eats out, never impulse buys, and somehow lives off there is rice at home.
But that is not real. Real life includes snacks, sudden expenses, and days when you just want to order food instead of cooking.
So, build a flexible budget that works with your lifestyle, not against it. Make room for fun just put a cap on it.
5. Use your tools
There are so many tools out there that make financial planning easier. From budgeting apps to digital wallets with savings goals like the Vale App.
And if you are already using one of our products at Vale, explore the features built to help you stay on track. We built them with you in mind.
The truth is, the key to financial planning is not perfection, it is consistency. You will have setbacks. That is normal. What matters is that you keep showing up. One small step at a time. Start again. Adjust and keep going.
Money habits take time to build. So, give yourself grace. Be flexible. And always remember, your financial plan should fit you, not the other way around.
What matters is progress, not perfection.
Now to the News
CBN Intervention Fails to Hold Naira as it Closes at N1,604/$1
The naira experienced a turbulent week, continuing its decline against the dollar and closing at N1,604/$1 on Friday, a 0.75% drop from Thursday’s close of N1,592/$1.
On a week-on-week basis, the naira depreciated by 2.36%. The week began on a shaky note, with the currency opening at N1,612.24/$1, a 2.81% decline from the previous week’s close of N1,567.02/$1.
This also marked the first time in 2025 that the naira breached the N1,600/$1 threshold in the official market.
In response, the Central Bank of Nigeria (CBN) intervened by selling $124 million on Monday at rates between N1,595/$1 and N1,611/$1, followed by another $149.4 million on Tuesday to ease the growing foreign exchange demand pressure.
The apex bank’s efforts yielded good results on Tuesday, with the naira recording a mild appreciation. However, the relief was short-lived, as demand pressure continued and the currency slipped further, hitting a new low of N1,629.94/$1 on Wednesday.
In the parallel market, the naira closed on Friday at N1,608/$1, reflecting a 0.74% appreciation from Thursday’s rate of N1,620/$1.
Against the British pound, the naira weakened by 0.50%, ending the week at N2,030/£1 from N2,020/£1. Similarly, it fell 1.49% against the euro, closing at N1,705/€1, compared to N1,680/€1 the previous day.
Naira Appreciates in Official Market, Closes at N1,592/$1
The naira appreciated in the official market on Thursday, closing at N1,591.85/$1, a 2.34% improvement from the previous day’s close of N1,629.94/$1.
The Nigerian Foreign Exchange Market (NFEM) remained active amid persistent demand pressure. However, the Central Bank of Nigeria (CBN) intervened by selling $135.45 million at rates ranging from N1,500/$1 to N1,636/$1 to help stabilize the market.
During Thursday’s trading session, the exchange rate fluctuated between N1,500/$1 and N1,636/$1 — a spread of N136 — highlighting the continued volatility and strong demand for the dollar.
In the parallel market, the naira remained relatively stable against other major currencies. It held steady at N2,020/£1 against the British pound and N1,680/€1 against the euro. Against the US dollar, it maintained its previous rate of N1,620/$1.
The foreign exchange market continues to face significant pressure amid surging demand for foreign currencies. Market watchers anticipate further interventions by the CBN as it works to restore stability.
Nigeria’s External Reserves Increase to $40.19Bn
Nigeria’s external reserve surged by $6.8 billion, reaching $40.19 billion in December 2024. This resulted from an increase in Balance of Payment (BOP) surplus and a reduction in Net Errors and Omissions (NEO).
The latest data from the Central Bank of Nigeria (CBN) BOP report reveals that portfolio investment inflows grew by 106.5%, rising to $13.35 billion in 2024, from $6.47 billion in 2023. This influx of foreign currency boosted the external reserves.
Similarly, Other Investment (OI) assets increased significantly to $4.64 billion, from a negative $0.93 billion recorded in 2023. However, direct investment inflows declined by 42.3%, falling to $1.08 billion in 2024 compared to $1.87 billion in 2023.
Nigeria’s overall BOP recorded a surplus of $6.83 billion, showing higher earnings from foreign transactions compared to expenses.
Nigeria’s Microfinance Banks in a Cashless Economy: Evolving for a Digital-First Future
The implementation of the Naira redesign and cashless policy in early 2023 did not come out of the blue for microfinance banks or indeed other operators in the financial sector in Nigeria.
The Central Bank of Nigeria (CBN) had spent the months and years leading up to the initial announcement in October 2022 urging microfinance banks and other financial institutions under its regulatory purview towards digitalization to ultimately support achieving the goal of a cashless society.
However, by the time the deadline for the old currencies and transaction limits rolled around in February 2023, the shortcomings in the levels of preparedness of the technology infrastructure for microfinance banks and the financial system in general was laid bare for all to see.
