Having young money simply means having wealth at the early days of your youth.

This is the delusion of getting rich quickly. You can tell yourself that you will become a millionaire in five months but that doesn’t mean it will happen.

If you aren’t happy with how you have not achieved your financial goals, it may be time to take a brutally honest work at what you are currently benchmarking yourself against.

It does not make sense to compare yourself to someone who is born into a wealthy family and has never worked for money in the early days of their youth. It makes sense to compare yourself to someone who has the same background and attended the same school you graduated from.

Young Money

Young Money


You can tell yourself that yourself can become a millionaire in dollars by the end of 2024, but six months isn’t enough if yourself have not even achieved 100,000 dollars by now.

This financial goal was unrealistic in the first place. It’s possible you have compared to your “peers” on Instagram, X or LinkedIn who are currently millionaires and “crushing it.” This can create a distorted view of what’s achievable financially.

Or do you have an overambitious mindset? You enthusiasm and optimism as a young person can sometimes lead to setting overly ambitious financial goals without considering practical limitations or timelines. How did you even arrive at this figure when setting your financial goal?

The only option is to revaluate and set realistic financial goals.

The Conscious Wealth Builder

You are worried about your financial future because you fail to consider your current income levels, expenses, debt obligations and other financial constraints. And these things are leading you to set goals that are not feasible.

Wealthy people aren’t worried because they understand what makes anyone wealthy.

The financially free individuals are the ones who live life on their own terms, with no constant worry for money.

The financially free individuals are not those who are the highest paid, nor the hardest workers, but the ones with full control about their work and lifestyle.

If you want to set realistic financial goals, you need the qualities that allow you to keep making and managing money no matter the circumstances.

These qualities comprise The Conscious Wealth Builder:

  • Discipline: Consistently following a budget, saving regularly, and avoiding impulsive spending.
  • Patience: Understanding that wealth accumulation is a long-term process.
  • Adaptability: Being flexible and willing to adjust your financial plans as circumstances change
  • Resilience: Overcoming setbacks and learning from financial mistakes
  • Focus on Value Creation: Focus on enhancing your skills and seeking opportunities to add value.
  • Perseverance: Continuously working toward your financial goals, even when progress seems slow, or obstacles arise.

If you want to consciously build wealth, you are required to always achieve financial goals.

How to Set Realistic Financial Goals

  1. Be Self-Aware

Be honest about your current income, expenses, and debt. This is the foundation for setting achievable goals.

Assess your current financial situation. Take an honest look at your income, expenses, debts, and overall financial standing. This will provide a realistic baseline for setting achievable goals.

  1. Research and Plan

Research what financial goals are realistic for your age, income level, and career path. Use online resources or consult a financial advisor for guidance.

Consider consulting with a financial advisor or planner who can provide personalized advice and help you set realistic goals based on your unique circumstances.

  1. Set SMART Goals

Make your goals Specific, Measurable, Attainable, Relevant, and Time-bound. Instead of “become a millionaire,” aim for ‘save 42,000 naira monthly in an investment account in two years.’

  1. Educate yourself on personal finance

Seek out resources, books, or workshops to improve your financial literacy and gain a better understanding of budgeting, saving, and investing strategies.

  1. Focus on Progress

Celebrate your milestones along the way!

Reaching smaller goals keeps you motivated and reinforces positive financial behaviors.

Now, it’s time to look back at those financial goals you set this year and validate them with these steps.

Turn them to goals you can still achieve in 2024.