5 Money Habits and What They Do to You

Zainab Aderounmu

May 12, 2026

Your relationship with money may seem regular; I earn, I spend, I might save or not, I might or might not invest. Interestingly, every financial situation is birthed from a set of reinforced habits over time, which in turn were formed from the money scripts we were giving in childhood. 

Why is this important? It is because, how you deal with money might be holding you back more than you actually pay attention to it. I’ll give a personal story. I once attended an event, where there was a milkshake and hot chocolate stand. As I was running low on cash that morning, I talked myself out of going up to the stand to get some hot choco even though I craved it badly. I convinced myself, ‘it’ll probably be over the money I currently have, so I can’t afford it’. 

By mid-day, I saw my seat mate sipping a milkshake, and thought to ask her. Alas, she revealed that it was from that hot choco stand and it was absolutely free! Free!? In that moment, I realised that I allowed mycurrent financial stance stand in the way of curiosity. I could have at least asked, and instead of automatically assuming I couldn’t afford it, I ought to have thought up creative ways to afford it. 

Some money habits set you free, while some might hold you back. Let’s explore some of them.

1. Save First, Buy Later: This habit tends to make savers, people who are always thinking ahead, which is great. The downside, however, is if you overflog it. It leads to you becoming a hoarder, who may have so much money, but still feel a sense of lack. It stems from a not-enough mindset. That is, when you feel money isn’t enough so you must save every penny to avoid the consequences of not having.

2. Give First, Think Later: I’ve seen enough over-givers to know it never ends well. I once had a friend who would give out her every penny without paying attention to her own needs. ‘God will provide,’ she’ll say. And even though God does provide, she still bears the brunt for a few weeks before repeating the cycle all over again. 

3. Spend Now, You-Only-Live-Once: This is the social butterfly who knows that money isn’t the end, but a means to an end. So, they spend now and live the life of their dreams. Unfortunately, this often translates into a lack of future financial planning or buffers for anticipated emergencies. 

4. Avoid It, God will Provide: Avoiders may often find themselves in a financial conundrum because they weren’t paying attention to the situation in the first place. They’re not sure where they stand financially, they hate looking thought the numbers so debts pile.

5. The Balanced Mix: The best approach to money is to have a mix of everything, except being avoidant of course. Saving first, means paying yourself first and giving room for investments. However, oversaving shouldn’t be the reason you can’t afford basic things. Therefore, spend, give and track the flow of all of it. 

Most importantly, develop a ‘how can I afford it’ mindset rather than, ‘oh, I can’t afford it. One is elevating, the other is disempowering.   

Zainab ADEROUNMU A. W. is a First Class graduate of English Language and the Overall Best Graduating Student from the Lagos State University, Lagos Nigeria. She’s a professional Master of Ceremonies, known as The Hijabi Compere , a public speaking coach and Communications Professional. She is currently a Youth advisor to the European Union where she doubles as the Spokesperson and Head of Communications & PR for the Youth Sounding Board.