How do I check my financial health in Nigeria?

A practical financial health check looks at five things: how many months of expenses your cash buffer covers, how much of your income goes to debt repayments, what share of income you save, whether you are ready to invest, and whether the platforms holding your money are properly regulated. The free Financial Position Check at nairajournal.io scores all five in ten questions.

How many months of expenses should my emergency fund cover in Nigeria?

A common working target is three to six months of essential expenses kept in a safe, accessible place such as a regulated money market fund or high-interest savings. With naira inflation, holding much more than that in cash loses buying power, which is why the buffer is a floor, not a destination.

What share of my income should go to debt repayments?

A debt-service ratio under about 30 percent of monthly income is generally considered manageable; above 40 percent is a warning sign that debt is crowding out saving and investing.

Financial Position Check for Nigerians

If your income stopped today, how many months of rent, food, transport, and bills could you cover from money you already have?

Fixed costs only. Not everything you spend, just the essentials. Count only money that is accessible now, not investments you would have to sell first.

How much of your monthly take-home pay goes to debt repayments? Include loans, credit cards, BNPL, and any ajo contributions you are locked into.

Take-home is what lands in your account after tax. Only count fixed obligations - money you must pay, not money you choose to spend.

Out of every 100 naira you earn, roughly how much do you actually keep - in savings or investments, not spent or sent?

If you earn ₦200,000 and save ₦20,000, that is 10%. Count money market funds and fixed deposits. Do not count ajo money you will spend when it comes back to you.

Is your income roughly the same every month, or does it change?

Variable income needs a bigger buffer because the dry months can be longer. This adjusts your score accordingly.

Is your emergency money in a separate account from the one you spend from every day?

Money in your current account is not a buffer - it gets spent. A separate savings account or money market fund with a little friction to withdraw is what makes it real.

Are you currently putting money into any investment on a regular basis - a fund, stocks, bonds, or a fixed deposit?

Ajo and esusu are savings, not investing. A money market fund counts. A fixed deposit counts. A regular savings account does not.

Have you checked that the platform holding your money is registered with the SEC Nigeria?

The SEC register is public and free: sec.gov.ng. An unregistered platform has no regulatory protection, no matter how polished the app looks. If you are not investing yet, choose the last option.

Do you have a clear financial goal for the next two to three years - a specific amount you are working toward, with a reason?

Not a vague intention. A real target: a number, a timeline, and a purpose. This tells us whether your current habits are pointed at something or just running in place.

What is the one financial thing you most want to sort out right now?

This shapes the resources the check points you to. Pick the one that feels most pressing, not the one that sounds best.

Where are you based right now?

This routes you to resources that match your situation - the money decisions for someone in the UK or US are different from someone managing naira at home.

Where do you actually stand?

Financial Position Check

Your financial position