I honestly didn’t know there was anything called financial literacy until I got older. As a child, I wasn’t thinking about saving, budgeting, or anything close to that. All I knew was that my mum brought home a wooden saving box one day and said Keep your money here.
It was called kolo. It had a small hole on top for dropping money and no opening unless you broke it. I was maybe around seven or eight years old when she gave it to me. It was nothing fancy, just a small box made by a roadside carpenter, but to me, it felt like a treasure chest. I was so happy. Anytime someone gave me money maybe from a visitor or change from errands, I would rush to my room and drop part of it into the kolo. I didn’t even know why I was saving. I just liked the sound of coins hitting the box and the idea that something was growing inside it.
Sometimes I would carry the box, shake it, and try to imagine how much I had. I would even think about the things I could buy when it finally got full. My mum made it clear that I wasn’t allowed to break it until she said so, and because I didn’t want to lose her trust, I obeyed.
When the time finally came, it was Christmas season I was so excited. My dad helped me open it carefully, and I still remember how I felt seeing all the money pour out. There were coins and some small naira notes. It wasn’t a lot, but it felt like millions to me. My parents were proud, and they allowed me to buy something small for myself while they helped me keep the rest. That was the first time I truly understood the idea of saving. Even though nobody called it financial literacy, that taught me that money doesn’t have to be finished the same day you get it.
As I grew older, I continued saving in different ways. At some point, I moved from using a wooden kolo to using empty tins or plastic bottles. Then later, I started using a small account in the bank. But the habit remained. I always tried to keep something aside, even when it wasn’t easy. I didn’t fully understand things like budgeting, investments, or emergency funds, but the foundation was already there.
To be honest, I made a lot of mistakes too. I wasted money on things I didn’t need, gave in to peer pressure, and didn’t always plan well. I only started reading and learning about proper money management in my early twenties when responsibilities started showing up. That’s when I really understood that managing money is not just about saving, it’s also about planning, making choices, and preparing for the unexpected.
Looking back, I’m grateful that I was introduced to saving early, even if it was most simple. It shaped the way I think about money today. That’s why I strongly believe that financial literacy should begin from childhood. Not when someone is already in debt or facing financial problems, but when they are still young enough to learn good habits.
You don’t need to wait until a child is grown before you start teaching them. Even if they don’t fully understand, they will remember. That small kolo I had was more than a box. It was a life lesson. A quiet teacher who taught me patience, self-control, and the joy of watching something grow.
Financial literacy should start early. It doesn’t have to be serious or complicated. A saving box is enough. A simple conversation is enough. What matters is the habit. Once that is formed, every other things can follow. So yes, my journey into financial literacy started with a kolo. And I think that’s the best place to begin, with the little things when the mind is still young and open.
This is my response to this episode of hivelearners community prompt of #hl-w167e02 which the topic is tagged FINANCIAL LITERACY
