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Stephanie Mayers shares how she budgeted her way into her first home
For many Nigerians, especially young women, budgeting can feel overwhelming. Rising cost of living, unstable income streams, and increasing financial responsibilities make it difficult to stay consistent or even know where to start. Yet, learning how to manage money effectively has never been more important.
This is where Stephanie Mayers’ story comes in. Her journey into finance and budgeting began out of necessity, shaped by real-life responsibilities and a desire for self-discovery. Despite originally studying law, she carved a different path and now works as an audit manager at an investment bank. Her experience reflects her adaptability and her intention to take control of her finances.
For Stephanie, budgeting is a tool she uses to get her independence and control over her own life. Her past experiences taught her that without a clear plan for her income, financial instability would be inevitable.
To further understand the best way to budget like a pro, we spoke to Mayer, who also shared how she saved up for her first home and learned to stand on her own two feet. She has also evolved into a disciplined, intentional woman who strategises every financial decision she makes. She uses money as a path to empowerment and encourages other women who want to take ownership of their lives to think about money differently.
What do you do for a living, and why does budgeting matter so much to you?
View this post on InstagramI currently work as an Audit Manager at an Investment Bank and surprisingly, I studied Law. My relationship with money has been a bit of a slippery slope. I grew up watching my mum, who was very frugal and loved to save and also my dad, who loved to invest and treat himself to nice things. Naturally, I inherited both of their habits, but I definitely overdid it with treating myself, especially when I was younger. Early on, budgeting became important when I had to become an adult quite quickly and learn how to run a household
What was your first experience with budgeting that made you realise this was something you wanted to practice and tailor to your lifestyle?
I got my first taste of budgeting when I was 16 or 17. I had moved into my first flatshare for around £400pm and quickly learned that if I did not budget my income to cover my expenses and have some contingency, I was in hot water (literally). The first few months were difficult, plus I’m quite headstrong so I didn’t want to go to the bank of Mum and Dad when I messed up. So, I quickly learned how to put aside what I needed, a little fun money to the side and save the rest. Back then, I wouldn’t say I knew this was budgeting, but I’d figured out it was a system I needed. As I got older and continued to pay rent, I just continued using that system until I was about 24 to 25 years old and decided I wanted to buy a house by the time I was 28. At that time, it really became crunch time, my whole lifestyle had to change to really accommodate that goal.
You saved up and bought your first home in the UK as a young, single woman. What steps did you take to make this dream a reality, and what advice would you give other women looking to buy their own home?
I hate to say it, but the first step was sacrifice. When I sat down and looked at the numbers, I knew something had to give for what I wanted, so I sacrificed my free time. I worked a second job doing 18-hour days for almost 6 years. This allowed me to save my deposit and renovation costs at a much faster rate while also paying for my rent in London.
At the same time, I knew my savings alone were not enough and needed to increase my earning potential and income, which meant switching industries and sectors. I started studying at night and day to break into Tech (Cyber Security) and landed my first job as a risk analyst in one of the largest UK banks. I had my financial goal in mind and used that role as a stepping stone to get to the figure and title that I wanted, which paid off eminently.
Tips? I’d advise every woman to first rid themselves of any limiting beliefs of ‘I can’t do it’, ‘it’s too hard’ or ‘it won’t work’. If I had listened to those or the failed experiences/fears of those I encountered, I never would have taken the risks I needed to take. Secondly, knowledge is power. You can’t consume the opposite of what you want day in and day out and expect the result you desire. I immersed myself in every law, article, and video I could find about home ownership, and I was even able to correct my solicitors in the process and point out things that they had missed. Once you master these two, the rest is just strategy, time and continuous execution, and you’ll get there.
What is one budgeting tip every woman should know and should integrate into her financial planning?
Your lifestyle should not devour the resources your future self needs. Every pound that comes into my hand is already assigned. I don’t play with my money because I know what it’s meant to do for me in the long term. That’s how I avoid cheating myself. A lot of people think it’s about earning more. That’s definitely one factor, but before you can get there, it’s really about strategy and consistency; that’s what actually builds financial security.
Over-splurging on your lifestyle is one of the biggest things every woman needs to cut out. Just because your income goes up doesn’t mean your lifestyle should, that’s how people stay stuck on a higher salary or lose everything when they lose their job or a surprising life event happens.
Sometimes, I take it even further. Gifts, birthday money, bonuses, it all goes back into my financial system because I’ve trained myself to stop seeing it as “extra” or “free” money. There’s no such thing as free money if you’re serious about your future. Every decision either moves you forward or keeps you comfortable. You just have to decide which one you’re choosing.
Do you believe in money manifestation, and if you do what are your mantras?
Hmm… I’m a hardcore Christian, so I don’t believe in money manifestation in the typical sense; that I can attract wealth purely through my own will power. That said, some of the principles of manifestation overlap.
I believe in putting God at the centre of everything I do and positioning myself properly. That means faith, discipline, and good stewardship over what I already have. I wouldn’t say I’m sitting there “manifesting” money. I’m managing it well, making wise decisions, and trusting that more will come as a result. If anything, my “mantra” is simple: Steward what you have. Be disciplined with what you earn. And don’t move like money is random; every single penny has a purpose.
How important are multiple sources of income? And how did you choose your additional sources of income?
View this post on InstagramHaving multiple sources of income is very important. One of my favourite quotes from Warren Buffett, an American investor and philanthropist, hits home for me: “If you don’t find a way to make money while you sleep, you will work until you die.”
For me, it started with understanding that my 9 – 5 is a foundation, not a limitation. What do we do with foundations? We build upon them to reach an end result. The way I saw it, any additional income had to make sense alongside my job, not compete with it. I chose my extra income streams based on three things: Does it align with what I already know or do well, or can I learn it easily? Can I sustain it with discipline, not just by motivation? Does it bring me closer to my long-term goals? That’s why my focus has been on things like content and sharing knowledge around money, career, and home ownership. It’s an extension of my real life and at times doesn’t really feel like another job/side hustle because I genuinely enjoy sharing and knowing that I’ve helped even just one person.
Break down how you personally budget successfully and what you consider successful budgeting.
For me, successful budgeting, is simple: nothing I earn is left without a purpose. I use the zero-based budgeting approach, which means every pound that comes in is assigned to do something, similar to it having a job.
By the time my income hits my account, it’s already been told where to go. I break it down into three main areas:
One. Expenses (what I need to live): this is for everything essential, rent or mortgage, bills, transport, and food. These are non-negotiables, so they get covered first.
Two. Future (what builds my life), this is where the real discipline comes in. Savings, investments, overpayments, anything that moves me forward financially. I prioritise this early, not with what’s left over.
Three. Lifestyle (what I enjoy). What’s left is what I can spend guilt-free. This is where a lot of people misunderstand. They spend first, then try to save what remains. I do the opposite. I also budget for everything, not just the obvious. Birthdays, holidays, random expenses, even “just in case” money. Nothing really catches me off guard because it’s already been planned for and I track it consistently, not when I feel like it.
I probably check my banking apps more than I check my social media haha. I like knowing where my money is going at all times and making sure it aligns with the life I’m trying to build.
What apps do you use to help navigate and manage your finances?
My finances are quite simple. I try to run a system for everything, which means I don’t rely on one app to do everything. I use a mix, and each one has a specific job.
For saving, I use Plum, mainly for their Cash ISA. It helps me put money aside consistently without overthinking it.
For investing, I use Trading 212. It’s straightforward, and it allows me to invest regularly as part of my long-term plan.
For budgeting and tracking, I use the Emma and Monzo apps (especially for their virtual cards). This is where I see everything in one place and stay on top of my spending. I also use different banking apps to separate my money properly. Monzo is great for saving pots. I can split my money into categories so I know exactly what’s allocated where. I also use high-yield savings accounts to make sure my money is working while it sits.
For rewards and spending, I use accounts like Amex or Revolut, but strategically. Not for overspending, just to maximise benefits on money I was already going to spend. And when I was buying my house, I used Moneybox for my Lifetime ISA. That government bonus makes a real difference when you’re working towards a deposit. You even have the option to then invest the deposit, also to track the fund, for example and increase it even more. Every app I use has a purpose. If it doesn’t serve my system or slows it down, I stop using it.
Money is important to how a young woman takes control of her life. What advice on money have you received and how has it shaped the way you think about money?
The best advice I ever received about money was simple: “Nobody is coming to save you, so you’d better save yourself.” At first, it sounds harsh, but the truth in it completely changed the way I think about finances and life. It made me realise that money isn’t just about numbers or wanting to do ‘soft life’, it’s about control, independence, and being able to make decisions for yourself without relying on anyone else.
For young women especially, this mindset is critical. Far too often, we are taught to wait for opportunity or support to arrive, whether from a partner, a family member, or a mentor. The reality is that nobody is coming to hand us financial security. We have to claim it ourselves. If men can take control of their financial lives, there’s no reason women can’t do the same.
In the UK, there is a large gender wealth and investment gap, and some of that is as a result of our not recognising that the tools, opportunities, and discipline required to build wealth are available to anyone who chooses to take the risk and use them. This advice shaped how I manage my finances and made me make deliberate choices to save, invest, and plan for the future. I’ve learned to treat every decision, from how I budget to how I invest, as a step toward independence.
I want to pass down something to my children, as ultimately, we adopt what we see our parents do. I’d love every woman to know that if you want control over your life, start with your money, act like nobody is coming, and that’s exactly why you have to show up for yourself every single day.
“I probably check my banking apps more than I check my social media.”
What mindset should you have to increase your wealth and budget successfully and what are some of the skills that have helped you reach your goals?
To increase your wealth and budget successfully, the mindset has to come first. You need to think long-term, take full ownership, and treat money as a tool, not just something to spend.
Discipline has to be non-negotiable. You can’t rely on luck or hope; you have to be intentional with every pound you earn. That means seeing money as a reflection of the life you want, not just a reaction to the life you have right now.
Several skills have been key in helping me reach my goals. Budgeting with precision: I use a zero-based approach so every pound has a purpose. Consistency and routine: whether it’s saving, investing, or tracking spending, I make it a habit, not an occasional effort. Strategic thinking: I align my income streams, savings, and investments to my long-term goals. And finally, discipline in lifestyle choices: resisting lifestyle creep and reinvesting bonuses or gifts instead of spending them immediately.
Budgeting can feel intimidating, restrictive, and even costly — especially when it means saying no to a lot of things. What did you have to sacrifice to get where you are, and looking back, how do you feel about those sacrifices?
Budgeting can feel scary and limiting, especially when it means saying no to a lot of things. You find yourself thinking, if I keep saying no, my friends will stop inviting me, or they’ll think I’m broke.
I won’t lie, I’ve sacrificed my fair share along the way. There were weekends I skipped out on and girls nights out just to stick to my savings goals and budget. I missed a few brunches, a few vacations, and definitely some spontaneous online shopping binges. There were evenings when my friends were out living it up, and I was at home with my spreadsheets… yes, spreadsheets or studying or working.
At the time, it didn’t always feel fun. But looking back now, it’s honestly kind of funny. Every “no” I said built me a bigger “yes”. It led to my first home, financial security, doubling my income, promotions and the freedom to actually say yes to things that matter.
I joke that I have a PhD in “saying no respectfully,” but the truth is those little sacrifices gave me choices and control over my life that I wouldn’t trade for anything. Very quickly we all learn that budgeting isn’t about deprivation, it’s about delayed gratification, with a payoff that’s way better than the temporary FOMO or friends that can’t adapt to the season you’re in. And honestly, spreadsheets are a lot of fun for me now, but that might be the auditor in me talking haha.
What’s one financial goal you are working towards in the future?
One financial goal I’m working towards is building a property portfolio that generates real passive income. I want to move beyond just owning my home and create assets that work for me while I focus on other parts of my life.
Read more: 7 expert budget tips to have more money at the end of the month
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