Ifeoluwa Adegoke : My Motive is to  Help People Achieve Financial Stability

Lead Financial Consultant, MTWI Services, Ifeoluwa Adegoke, in this interview emphasised the need for empowerment to curb financial instability. She also spoke about exploring education and skills development to build wealth

What is the motive behind all your financial empowerment schemes?

My motive is simple- To help people achieve financial stability regardless of their current income bracket and ultimately live a happier life.  I am a strong believer that it is possible for anyone to achieve financial freedom if only they have enough knowledge on how to get there. Teaching people healthy money habits, ways to grow their income, how to protect their financial resources and access legitimate investment opportunities are ways I help people achieve financial stability.

What has been the outcome of your financial education? What feedback have you gotten from the 5,000 people reached?

The impact has been positive and further affirming that I am on the right path. With the training, we have helped people find their way out of debt, build a healthy financial mindset, create multiple streams of income, start their investment journey, achieve income stability and also protect their wealth. Grateful for how far we have come and looking forward to the great work still ahead.

What opportunities await women or youths, who have been financially dependent?

Many opportunities await! We are in a world where many business opportunities that require little or no capital are available. You can start a business today without inventory or a physical shop. It is now possible to be in Nigeria and earn in foreign currencies by providing your services to international companies. There are many possibilities for you if you are ready to start earning your own money. Look at the skills you have and the problem it can solve for people, then find people who are willing to pay you for it. If you have access to the internet, the last part should not be a problem at all.

Speak on Moneytalkswithife

Moneytalkswithife is a platform that was birth from a place of passion to help people navigate their finances at the different phases of life. Nobody taught us about managing our finances in school and only a few parents bother to mention it. Funny how we spend an average of 24yrs going through formal education in order to get a good job and make good money but nobody teaches us the essential life skill of how to manage and grow the money. This is primarily why you find many people in a rat race- always chasing the next paycheck. At Moneytalkswithife, our mission is to bridge this gap by providing financial education to people so that they can achieve financial stability and freedom. We do this by offering training, sharing insights regularly on our platforms and partnering with organizations for further reach.

As a coach, what advice would you give to women who want to be financially independent but their circumstances do not permit?

I will say start from where you are and start with what you have. In my experience speaking with women who seek financial independence, two things are common- the fear of starting and the mindset that large capital is needed to start. If this is you, I want you to ask yourself this “What is the possible consequence if I am unable to start earning my own money?” Take whatever answer you give and let it motivate you to overcome your fear. Don’t get offended if people are not willing to support you with capital to start your business or help you find a job, start with what you have no matter how small and keep building. I’m rooting for you!

 What is your advice to people in rural areas who desire to build wealth but lack opportunities?

Building wealth can be challenging, particularly for those living in rural areas who may have limited access to resources and opportunities. However, there are still steps that individuals in rural areas can take to improve their financial well-being and build wealth over time.

My first advice is to focus on Education and skills development: Education or skills development can open up new opportunities and help such individuals increase their earning potential. This may include pursuing a degree or certification, attending vocational training programs, or developing skills in a high-demand industry.

Look for Entrepreneurial Opportunities: Entrepreneurship can provide the avenue for people in rural areas to create their own opportunities and build wealth. This may include starting a small business, developing a side hustle, or monetizing a hobby or skill.

What’s the importance of tax to businesses and economic growth?

Taxes are an important source of revenue for governments and they play a crucial role in the functioning of economies. Everyone that desires to see sustainable growth in our economy must be willing to do their part by paying their taxes. Taxes are essential for businesses and economic growth in several ways and the top of the list is that they provide funding for Government Services. Taxes are the primary source of revenue for governments, which use the funds to provide essential services such as education, healthcare, infrastructure, and public safety. Without taxes, governments would not be able to provide these services, which are crucial for businesses and individuals to thrive. Favorable tax policies can also encourage businesses to invest in new technologies, research and other productive activities that contribute to business development and economic growth.

How can Nigeria’s stock market compete on a global level?

The Nigerian stock market can compete globally by developing a strong regulatory framework, encouraging local participation, embracing technology, providing investor education, and diversifying the market. These strategies will help to enhance the market’s efficiency, transparency, and attractiveness to both local and foreign investors. To encourage local participation and create a vibrant market they can create incentives for local investors to participate in the market, such as tax breaks. I believe more investments need to be made towards investors’ education by championing financial education programs to help retail investors understand the workings of the stock market and how to make informed investment decisions. This will help to build confidence in the market and attract more local participation which will as a result grow the market.

Explain the importance of financial literacy and what age should one be equipped with it?

Financial literacy is an essential life skill that can help individuals manage their finances, make sound investment decisions, and avoid financial pitfalls. It is important for people of all ages and it is never too early or too late to start learning about personal finance. I tell parents to start teaching about money immediately their kids understand what money looks like. Schools can incorporate financial literacy into the curriculum at an early age, as children are never too young to start learning about money. However, it is also important to continue learning about personal finance throughout one’s life, as financial circumstances and goals may change over time. The earlier people are equipped with financial literacy skills, the better prepared they will be to make sound financial decisions throughout their lives.

Can partnership help build wealth? If yes, how can individuals or SMEs leverage on it?

Yes, partnerships can be a valuable tool for building wealth, particularly for individuals and small and medium-sized enterprises (SMEs) that may not have the resources or expertise to achieve their goals on their own. It can help to pool resources, share expertise and leverage each other’s strengths to achieve shared objectives. SMEs can form joint ventures with other companies to combine their resources and expertise to achieve a common goal, such as developing a new product, entering a new market, or expanding operations. Joint ventures allow each partner to bring their strengths to the table and they can be structured in a way that shares both the risks and the rewards. By working together, individuals and SMEs can achieve so much more than they could on their own and potentially build long-lasting, mutually beneficial partnerships.

What inspired you to be a financial planner?

My personal journey and the desire to help others. I can tell you that being a financial planner is a rewarding career path for someone like me who has a passion for helping others improve their financial well-being.  I also particularly love the holistic approach of financial planning, I often jokingly describe it as a full blown financial reconstructive surgery. It is fulfilling working with individuals and families to help them improve their finances and achieve their financial goals.