FairMoney's Gloria Onosode Introduces Anti-Inflation Strategy

Gloria Onosode, the Director of Enterprise Sales at FairMoney Microfinance Bank, has unveiled a strategic approach to combat lifestyle inflation. She warned against the common practice of waiting for a raise or better-paying job to start saving, as this often leads to a trap where expectations and living standards rise alongside income.

Onosode emphasized that wealth building should not be an afterthought but a proactive endeavor based on current earnings. She advised establishing financial resilience through tracking cash flow, managing expenses, and creating an emergency buffer before considering complex investments.

Onosode highlighted that saving small amounts regularly can cultivate beneficial financial habits. Additionally, she pointed out the importance of responsible credit management, cautioning against using new loans to pay off old debts.

Her advice aligns with the Central Bank of Nigeria’s consumer protection framework, which promotes financial literacy and consumer rights.