Recent catastrophic global events, such as the coronavirus outbreak, the Ukraine war and the global economic decline paint a very uncertain future. Hence, Namibian content creator, Woven, has decided to shift towards becoming more financially sustainable.
On 1 March, Woven took to her YouTube channel to share that she was making the financial move to downgrade her life mainly by moving from her N$14 000 rent per month apartment in the central business district (CBD) to a N$7 000.00 rent per month complex apartment in Eros, which she shared in her new apartment tour video.
“Many of the reasons we fall behind financially is because of lifestyle inflation. When you have a little bit more money, you keep building on your expenses. It’s the point where your wants start looking like needs,” Woven shared on her YouTube channel.
“I think I found myself at that point where a want – a luxury apartment in the CBD – then became a ‘need’. I realised it’s not worth it,” the creator confessed.
“There’s no shame in downgrading, guys. If you’ve been thinking about moving back home or one of those things, I do think now would be the best time to do it, especially for me,” Woven expressed.
She pointed out to the reality that most people, including herself, get caught up in trying to keep up with the Joneses. “May we be freed from the spirit of ‘what are my age mates doing’,” she said. “We end up making very poor financial decisions just to look like we are on par.”
Moreover, Woven urged her viewers to keep in mind that they all, come from different backgrounds, have different responsibilities, have different earnings, and they have different priorities. “Sit yourself down and analyse yourself,” she advised.
Furthermore, Woven listed other possible areas one can downgrade financially without making oneself miserable, namely, opting to rent with someone to split the rent expense or moving back home temporarily. Other ways could be to opt to cook at home more often than buying takeaways or eating out.
Her follow-up video on her financial wellness journey touches on budgeting, which Woven defines as the process of essentially telling your money where it should go or giving your money direction. In a more recent video, Woven also touched on how one can save. “Pay yourself first when you receive money, through savings,” Woven shared.
Her focus on financial sustainability content is being well received by her audience online, with most thanking her for it. Rosina Shikongo commented on one of Woven’s recent videos, saying, “Firstly, thank you so much for making this video and embarking on this journey of sharing with us your knowledge on financial literacy areas. You were right, information becomes relatable or understood if heard from a familiar person.”
Sustainable fashion personality Disney Andreas also shared her appreciation by commenting, “Financial literacy is the way to go …Thanks, Woven.”