Group Harps on Financial Resilience for Women, Youth
James Emejo in Abuja
The Dare-to-Inspire initiative has stated that the substantial impact of sound financial health remained a strong determination for navigating life’s challenges.
To this end, speakers at the 7th edition of the Dare to Inspire conference with the theme: “Sustainable Roadmap to Achieving Financial Resilience”,
The organisers noted that young women and youths face significant challenges getting adequate resources to achieve self-sustenance, be free from unproductive debt, as well as have savings/investments to further grow wealth.
The convener of the annual programme, Bunmi Ghiazat Adebimpe highlighted the impact of unforeseen circumstances on individuals with perceived sufficient income when there is no well-laid plan in place.
One of the speakers, Toyin Kekere-Ekun, highlighted the need to build buffers to cater for the rainy days adding that maintaining adequate savings remained the backbone of securing one’s financial future.
She also stressed the need to document all earnings and spending in order to critically assess needs and wants and use debts for beneficial future returns.
Also, in her paper titled “The Power of Negotiation, Maximizing your Income to Make Smart Choices”, Dr. Wura Abiola, emphasised the huge impact negotiation has on the different aspects of financial well-being from the context of family, work and individuals as economic agents.
She further highlighted women’s role as crucial in ensuring that the wealth and income of a family are sustainable.
On her part, Jennifer Ogunyemi, who spoke on “Overcoming Financial Challenges: Strategies for Resilience and Success”, shared invaluable lessons learnt from her personal experience and encouraged participants to seek education as a means to achieve financial success.
Ogunyemi also discussed strategies for improving financial hygiene, diversifying multiple streams of income and having clear intentions to create and stick to budgeting as a financial plan that helps track income and expenses.
Another speaker, Bimpe Afolabi, discussed “Tips and Tricks: Understanding Spending Habits, Managing Black Taxes and Creating a Budget that Works”.
She stressed the need to limit black taxes by managing expectations so it does not become a burden that will negatively affect one’s mental health and financial resilience.
Afolabi said black taxes can be controlled by discipline, budgeting and laying out necessary boundaries and living a modest lifestyle.
Essentially, the Dare-to-Inspire initiative is a leading not-for-profit organization focused on inspiring and empowering young Muslim women in Nigeria and youth across the globe.
The platform provides participants with the opportunity to observe, interact and learn from leading finance experts, outstanding women and industry professionals.
