“Intelligence solves problems and produces money. Money without financial intelligence is money soon gone” – Robert Kiyosaki

Introduction

Robert T. Kiyosaki, Rich Dad, Poor Dad, is an expert in Financial Intelligence matter. He said, “If your financial intelligence is low, money will run all over you. It will be smarter than you. If money is smarter than you, you will work for it all your life. To be the master of money, you need to be smarter than it. Then money will do as it is told. It will obey you. Instead of being a slave to it, you will be the master of it. That is financial intelligence.”  Financial Intelligence is a serious matter that we must look into if we really want financial security. Some of our forefathers despite they never went through the four walls of school are highly possessed with financial intelligence spirit. That’s why their grandchildren can see the assets left behind. At this point in time financial intelligence matter to everyone.

Let me share a short real-life story of Wale Babs that will give us a wake-up call on money wisdom.

In 2015, Wale Babs, a smart, ambitious Nigerian graduate from University of Lagos, UNILAG, landed a job with a respectable multinational company in Lagos. With his starting salary of ₦350,000 per month with several bonuses, he felt on top of the world. He was a young man full of energy and assumed he was privilege than others. While his peers were still job-hunting, he was living in a 3-bedroom flat, driving a clean Tokunbo Corolla, and spoiling himself with weekend outings at high-end spots and clubs in Lekki. He was changing girls as if changing clothes. He was all over the places.

Three years later, Wale Babs lost his job during a corporate downsizing exercise. What followed was a downward spiral: he has no savings, he has no investment, just debts and a lifestyle he could no longer afford. He tried starting a business, but with no financial skills, it failed. At 30, he moved back in with his parents.

Wale Babs’ story is not rare in Nigeria. It’s the story of many talented, educated individuals who lack one crucial life skill — financial intelligence. Wale Babs spent his money on liabilities and not in assets. He did pay for this serious in his later days and learnt in a hard way.

Let us go deep into this subject matter to understand better what financial intelligence means and its matter now.

What Is Financial Intelligence?

When we look at Financial Intelligence, it has two words; Financial which is relating to money and Intelligence which means the ability to learn or understand things or to deal with new or difficult situations. Intelligence also means mentality. So, we can say that financial intelligence is the Money Mentality. Let us now define Financial Intelligence properly…

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Financial Intelligence is the ability to understand and make smart decisions about money. It includes knowing how to earn, manage, grow, and protect your money in a way that builds long-term financial health and freedom.

It’s not just about having a high-paying job. NO! It’s about:

• Managing your spending
• Creating multiple income streams
• Understanding investments
• Reducing and avoiding debt
• Planning for the future

Why Financial Intelligence Matters — Especially in Nigeria

In a country where economic uncertainty, inflation, and unemployment are part of everyday reality, financial intelligence is not a luxury—it’s survival. Here’s why it matters more than ever:

1. Financial Intelligence Helps You Avoid the Salary Trap

Many Nigerians live paycheck to paycheck, with no safety net. Financial intelligence teaches you how to budget wisely, save consistently, and build assets, so you’re not stranded when your salary stops.

2. It Empowers You to Make Smart Investment Decisions

From Ponzi schemes to fake crypto “opportunities”, Nigerians have lost billions due to poor financial judgment. Of recent lots of Nigerians lost their hard-earn money with CBEX. If they have understood Financial Intelligence better, the risk might be minimal. With financial intelligence, you learn to:

• Assess risks
• Understand real vs fake investments
• Diversify income through stocks, real estate, or side businesses

3. It Gives You Control Over Debt

Many falls into the debt trap by taking loans to maintain lifestyles they can’t afford. Financial intelligence helps you understand good debt vs bad debt, and how to use credit responsibly.

4. It Teaches You How to Multiply Income

Relying on one income stream is risky. Financially intelligent people develop multiple streams of income, whether through freelancing, online business, affiliate marketing, or investing.

5. It Equips You for Financial Independence

Imagine not depending on salary, parents, or even your spouse for your survival. That’s financial freedom—and it begins with growing your financial intelligence.

Key Components of Financial Intelligence

1. Budgeting and Money Management

If you don’t tell your money where to go, it will leave you without notice. Budgeting allows you to:

• Track your income and expenses
• Set savings goals
• Cut wasteful spending

The following are the useful tools to use:

• Excel or Google Sheets
• Mobile apps like Mint or Branch
• Old-fashioned pen and notebook (still work!)

2. Saving and Emergency Funds

A wise person saves during plenty, so they don’t panic during scarcity. Experts recommend saving at least 20% of your monthly income, and building a 3-to-6-month emergency fund.

Best Tip and Practice: Automate your savings. Set it and forget it.

3. Understanding Assets vs Liabilities

Robert Kiyosaki famously said: “The rich buy assets. The poor only have expenses.”

• Assets put money into your pocket (e.g., rental property, profitable business, stocks).
• Liabilities take money out (e.g., car loans, flashy lifestyle, luxury clothes).

4. Investing Wisely

Investment is the secret weapon of the financially smart. But without intelligence, it’s a quick road to loss. Learn:

• How compound interest works
• How to invest in Nigerian stocks and mutual funds
• Basic real estate principles
• Safe ways to explore crypto or digital assets

Start Small. Learn. Grow.

5. Entrepreneurial Thinking

You don’t need to quit your job, but you do need to think like a business person. Ask:

• What value can I offer?
• Can I turn my skill or passion into income?
• How can I monetize my knowledge online?

This mindset shift alone can double or triple your income within a year.

Practical Steps to Improve Your Financial Intelligence Today

1. Read Financial Books

Start with:

• Rich Dad Poor Dad by Robert Kiyosaki
• The Richest Man in Babylon by George S. Clason
• Your Money or Your Life by Vicki Robin

2. Watch YouTube Finance Channels

Follow Nigerian finance educators like:

• Nairametrics
• Tosin Olaseinde (Money Africa)
• Arese Ugwu (Author of The Smart Money Woman)
• Etc.

3. Take Online Courses

Free and affordable courses on:

• Coursera
• Udemy
• YouTube
• Local WhatsApp/Telegram business groups

Search for:

• “Financial Literacy for Beginners”
• “How to Budget Your Money”
• “Investing for Nigerians”

4. Join Accountability Groups

Being in a community of people who talk about money, savings, and investments will motivate you to level up.

5. Track Your Net Worth Monthly

It’s not about how much you earn, but how much you keep and grow. Use simple tools to track:

• Your assets
• Your debts
• Your monthly financial progress

Common Myths About Financial Intelligence in Nigeria

❌ “You need to be rich first before learning about money.”

Truth: You become rich because you learn about money. Start where you are with what you have. Develop your skills and create multiple streams of income.

❌ “It’s too late for me to learn.”

Truth: Whether you’re 20, 40, or 60, it’s never too late. The earlier, the better.

❌ “Only bankers or accountants understand money.”

Truth: Anyone can become financially intelligent with commitment and consistent action. All you have to do is to learn money language and number.

Conclusion: What Will Your Story Be?

You’ve read Wale Babs’ story. But your story doesn’t have to end that way. You don’t need a degree in finance or a high-paying job. All you just need to start learning, stay committed, and act on what you know. Financial intelligence is not about becoming a millionaire overnight. It’s about taking smart steps daily that protect your future and free you from financial stress.

Actionable Steps

🚀 Ready to Take Action?

Here’s how you can start today:

Step 1: Write down your monthly income and expenses
Step 2: Set a simple savings goal (e.g., ₦10,000 monthly)
Step 3: Choose 1 book or 1 video on financial intelligence this week
Step 4: Identify 1 extra way to make money with your current skills

If you stay consistent, you won’t just earn more—you’ll own more, stress less, and live free.

Don’t just read this — apply it.
The most powerful form of intelligence is the kind you act on.

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