Herconomy

5 Parallels we can draw between the English Premier League and financial management

by Savings

It has begun!  Another football season has come with its chills, trolls, and unforgettable moments. Clubs like Manchester United and Chelsea have opened the season with some defeats, and, expectedly, BBC Yoruba did not spare either with its headlines. After Man-U’s loss to Tottenham Hotspur, the publication’s interpreted headline was, “Man-U did not score a goal; Tottenham turned them into a tied goat for slaughter.” Hilarious!

As fans around the world don their jerseys, fill up stadiums with cheers, and get ready for months of thrilling matches, it dawned on us that there are key football elements that resonate with our financial literacy message at Herconomy.

And we want to share them with you! 

So here are five running themes between world football and money management!

  1. Setting a Game Plan || Financial Goals

Just like a football team strategizes before a match, individuals can set their financial goals for the season. Whether it's saving up for a dream vacation, purchasing a new gadget, or building an emergency fund, having clear objectives is essential. Fintech tools like Herconomy can be your playbook, helping you track expenses, set budgets, and monitor progress towards your goals.

  1. Scoring Savings Goals 

Fintech innovations are changing the way we manage money, much like how technology has revolutionized football tactics. Savings apps can stash money in vaults until it gets to an amount required for your needs. These "virtual goals" are like scoring a goal every time you save – and the more goals you score, the closer you get to your financial targets.

  1. The Great Assist: Budgeting and Tracking

In football, assists are crucial for a successful goal. Similarly, our suite of solutions act as financial assistants, helping you budget effectively and track your spending habits. By categorising expenses and highlighting areas where you might be overspending, you can unlock insights to make informed financial decisions. If you want to score really good savings goals, you need great assists like those from James Maddison. This is what Herconomy does with its budgeting tool.

  1. Winning with Compound Interest: A Long-Term Strategy

In football, a winning strategy requires both short-term tactics and long-term vision. The same applies to finances. While celebrating small victories like saving on daily expenses, consider long-term investments too. Fintech-powered investment platforms offer opportunities to grow your wealth through strategies like micro-investing and automated portfolio management.

  1. Celebrating Financial Victories

Just as fans celebrate their team's victories, remember to celebrate your financial achievements. Whether it's reaching a savings milestone, sticking to a budget, or making wise investment decisions, these successes deserve recognition. Apps like Herconomy can help gamify your savings journey, turning financial discipline into a rewarding experience.

Herconomy’s POV

So, as you cheer for your favourite team and witness the excitement on the field, remember that you too can be a champion in your financial game. With Herconomy as your coach, you're well-equipped to make this season not only about football victories but also about achieving financial success.


At Herconomy, we organise numerous capacity-building and wealth-creation programs to empower communities of women. We have a savings solution; an app we designed to help women grow their wealth. With us, you get 10% interest on your savings and kiss transaction charges goodbye. Also, we have a PLANS FEATURE that allows you to co-save with your girls for important experiences like trips, dates and staycations. All you need to do is create a public plan within the app for you and your girls to save money there. And voila! You’re trip-ready! 

Herconomy’s got the solutions you need, We were born with you in mind. 

Secure your future. Start saving today

Herconomy

Should increased income mean more spending? Hear a billionaire’s perspective 

by Savings

Last week, Elon Musk’s X (formerly Twitter) lit up for Nigerians who read a post from Ezra Olubi, one of the nationally honoured cofounders who exited Paystack, an Africa-focused fintech startup. The $200 million exit ranks as one of the highest on the continent, spotlighting Olubi and Shola Akinlade, his partner, as two of the region’s success stories—in terms of both impact and liquidity. In the viral Tweet, Olubi shared that more recently, he became “unbelievably liquid”—a term that has now been framed into a fancy pseudo-prayer and creed.

“God abeg, make me unbelievably liquid” made the rounds on Nigerians’ Twitter accounts as folks chatted about the concept of having so much money that it becomes “unbelievable.”  The Tweet made its way to us at Herconomy, and we had quite an exciting time talking about it. For us, though, our excitement was not just about the liquidity, but the overall message of the Tweet. Ezra Olubi essentially said: I witnessed a crazy surge in my income, but left my spending as it is!

“I started this [paying myself a salary every month] over a decade ago, and when I recently became unbelievably liquid, I didn't spend a dime until I did the math to determine a reasonable yearly budget, then moved that sum to my 'operations account,'” the Tweet reads in part. 

Ezra is not alone in this school of thought. Iyin Aboyeji, ex-cofounder of unicorns Andela and Flutterwave, has shared something similar. “Don’t let your cost of living rise with your income,” he said in a post describing “keys to financial freedom.”

So, what’s the thing with “unbelievably liquid” folks trying to limit their spending from going up? Is the ability to spend more not a core motivation to make money? Well, there are many ways we could answer these questions. But two words sum it up: financial literacy. 

For Ezra, true financial growth comes from being mindful of spending—not just the abundance of resources. “Resisting the urge to mindlessly splurge today can create a buffer for the uncertainties of tomorrow” was the banger he ended the thread with.

If you’re reading this, chances are you’re not unbelievably liquid, even though it may be one of your desires. Ironically, chances are you’re also waiting to have more money so you can finally make some loud spending! But hey, consider this message from the billionaires we’ve quoted: your rising income should not equate to rising expenditure. Selah.

The reason for this is simple. Wealth is fundamentally the result of subtracting expenses/liabilities from income/assets. The more divergent these figures are, the more you are actually growing in wealth. But if your income makes a 10X jump, and your expenses follow suit, then your net wealth has remained stagnant, even if your quality of life improved.

Like Ezra, savings is how you should store up your increasing income. Your savings are what should jump when your money rises, not your expenses. That is how you create sustainable wealth for yourself and avoid the pitfalls of “pseudo-wealth”, the deceptively satisfying notion that spending more is equal to more wealth.


At Herconomy, we organise numerous capacity-building and wealth-creation programs to empower women in our community. We have a savings solution; an app we designed to help women grow their wealth. With us, you get 10% interest on your savings and kiss transaction charges goodbye. Also, we have a PLANS FEATURE that allows you to co-save with your girls for important experiences like trips, dates and staycations. All you need to do is create a public plan within the app for you and your girls to save money there. And voila! You’re trip-ready! 

Herconomy’s got the solutions you need, We were born with you in mind. 

Secure your future. Start saving today