Sapa-Must-Go: The Journey to Financial Independence

Travelling the world, Rich and retired at 40? YES PLEASE!!

Photo by Axe77 from Pixabay Copyright-free


Ruth Umoru

Date Published

January 19, 2022



What does Financial Independence even mean?

We always talk about getting the bag. Everyone desires it, few understand what it really means, and fewer know how to get it. If you’re unclear about where you stand, don’t worry. Here, we break it down and highlight 5 practical ways you can get Financial Independence.

Financial Independence might be personal to everybody. To some, it is having enough wealth to live on without having to work a job. To others, it is paying off all outstanding debt, retiring early or hitting the lottery.

Personally, Constance Carter’s definition takes the win, as she explains that Financial Independence isn’t defined by how much money one makes, but More So, the freedom they have to live their life without limitations and financial burdens.

We live in a world where almost every decision you make is controlled or somehow connected to money. Whether you need to eat, pay your transport to work, access medical care, proper housing or get married. These debit alerts seem to be at every turn, and they never take a break. Trust me when I say the list is inexhaustive.

Wouldn’t it be nice to feel confident in your ability to pay your bills, live comfortably, afford some luxury and even plan vacations from time to time? Well, this is why I think everyone should embark on a journey to financial Independence. To feel free!

There are many strategies to achieve financial independence, each with their own benefits and challenges. Here are some very helpful steps to embark on your own financial Independence journey.


I recently read an article on Zikoko’s naira life about a 30-year-old brand storyteller who managed to multiply his income 5 times over in a few years. After several failed attempts to get a job, he decided to start a little business, selling gas and cylinders. After a while, he got a writing gig and before long, added teaching to the list. Even though these jobs didn’t last long, he has successfully maintained multiple income streams over the years. 

He doesn’t live on his main salary anymore, and in his words, “ I think I can afford most things I want, and I know how much of a privilege that is”.

Try to stay away from the temptation to change your consumption habits as a way to “keep up  with the Joneses”. Remember, you’re on a journey and Financial Independence is the goal. According to the American Economist, James Duesenberry, in his relative income consumption theory, an individual’s awareness of the consumption habits of others tends to inspire emulation of these practices. He calls it the "demonstration effect”.

I said that to say; After successfully multiplying income streams, your work is not done, it is not the time to start “chilling with the big boys” or living the Toke Makinwa kind of “baby-girl lifestyle”, even though that would be nice. What comes next? Stay with me.


Duesenberry says a consumer’s average propensity to consume remains constant over time. This means that when you consume everything you earn at a lower income level, you're most likely going to consume everything when the big bucks start rolling in.

When you spend your entire income, you're literally setting yourself up for embarrassment. What happens when you have emergencies? Will you start reaching out to friends and family for urgent 2k? I hope not. This is why Economics teaches about transactionary, speculative and precautionary demand for money.  This just means that you need money for your daily runs, probable spendings and unforeseen circumstances.  Cliche as it sounds, you need to prepare for the rainy days.


An investment offers you the opportunity to earn money even while you sleep. It provides what is commonly referred to as passive income. An investment is an asset or item purchased with the goal of generating income or to increase its value over time. The purpose is not spending, but creating wealth for the sake of the future.

Assuming you buy a piece of land somewhere in town at 1 million naira, and sell it after 5 years at 5 million naira, That's a 400% profit. Definitely a worthwhile investment!

But what do I do if I don't earn as much from my 9-5? Well, thanks to Kwakol Markets, I can save up as little as $100 (roughly 50k) and make some cash on the side with Kwakol Invest.


This means that you can decide to be an economic player by running a business with the primary purpose of making profits. In other words, a side hustle. Don't just wait for the end of the month to pay bills, live your best life, relax and be taken care of, only to wait for the end of another month, and do the same thing all over again. Break the cycle! Put your money to work and make profits. It could start off little but it might be worth trying.


This might sound like an ”aspire to acquire” mantra, but it just means that you should be willing to try new things, even if they scare you. I always thought things like cryptocurrencies, blockchain technology, FOREX and NFTs were too complicated to understand, but the truth is, people are cashing out from these platforms and they don’t have two heads.

I might still be getting the hang of things, but again, thanks to Kwakol Markets, there are FREE classes to help with these seemingly complicated stuff.

…all I am saying

Financial Independence doesn’t happen in one day and the goal might be different for different people. So whether your goal is to retire early,  build enough wealth to never work a day in your life, pay all outstanding debts or live your best life, it is important that you are intentional about it, regardless of your current income level. Start a portfolio with Kwakol Markets today! Let us help you create the future you deserve.

Risk Warning: Trading leveraged products such as Forex and Cryptos may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice. Read More Here-

Disclaimer: This information in this article is NOT investment advice. It is intended for information and entertainment purposes only.

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