Soft Life vs.Smart Life: Striking a Balance Between Enjoyment and Financial Growth

Ladies, let’s talk about something we all love, enjoying life. Whether it’s brunch dates, solo vacations, or upgrading our wardrobes, we all want to live well. The soft life has become a popular trend, especially on social media, where we see women living lavishly, travelling the world, and dressing in luxury brands. But here’s the real question: Can we truly enjoy the soft life while securing our financial future?

As young African women, we’re navigating a unique financial landscape. The cost of living keeps rising, opportunities to build wealth are increasing, and at the same time, social media is constantly influencing our spending habits. Striking a balance between indulging in luxury and making smart financial decisions isn’t easy, but it’s possible. Let’s talk about how.

The Influence of Social Media on Spending Habits

We’ve all been there, scrolling through Instagram or TikTok and suddenly feeling like we need something we didn’t even think about before. One minute, you’re casually watching stories, and the next, you’re adding an expensive perfume to your cart because an influencer swears it’s a "must-have." Social media makes spending feel effortless, and before you know it, you’re buying things just to keep up.

The truth is, social media isn’t just entertainment, it’s a marketing tool. Brands and influencers carefully curate content to make us feel like we need to spend. Think about it: how often do you see a viral product and feel like you're missing out if you don’t buy it? This pressure can lead to impulsive spending, even when we don’t have the budget for it.

There’s also the “comparison trap.” Seeing friends, influencers, and celebrities living a glamorous lifestyle can make us feel like we should be doing the same. Suddenly, we’re booking expensive vacations, upgrading to the latest iPhone, or dining at the trendiest restaurants, not necessarily because we want to, but because it looks like that’s what everyone else is doing.

But here’s something to remember: what you see online isn’t always real. Many influencers receive gifts, sponsorships, or even take on debt to maintain a certain image. It’s okay to enjoy luxury, but it should be on your terms, not because social media convinced you that you’re falling behind.

How to Break the Social Media Spending Trap:

1. Pause Before You Purchase: Before buying anything you see online, ask yourself: Do I truly want this, or am I being influenced?

2. Set an "Influencer Budget": If you love trying viral trends, allocate a small amount each month so you’re not overspending.

3. Follow Money-Smart Influencers: There are content creators who focus on financial literacy and smart spending, fill your feed with those who inspire financial growth.

4. Unfollow Pressure Triggers: If certain accounts make you feel like you constantly need to spend, don’t hesitate to mute or unfollow them.

Social media is fun, but it shouldn’t dictate how you manage your money.

How to Budget for Luxury While Securing Long-Term Financial Stability

Luxury isn’t the enemy, the problem comes when we spend beyond our means. The key is to enjoy life while being financially responsible. Here’s how:

1. Follow the 50/30/20 Rule (With a Twist)

A simple budgeting strategy that helps balance needs wants, and future goals:

• 50%: Essentials (rent, food, bills, transport)

• 30%: Enjoyment (brunch, shopping, vacations)

• 20%: Savings and investments

If you’re working towards a big goal (like buying land or starting a business), switch it up and put 30% into savings and 20% into fun.

2. Create a "Soft Life Fund"

Want to enjoy luxury guilt-free? Plan for it! Open a separate savings account just for indulgences. Instead of impulsively swiping your card, you’ll already have a set amount ready for splurging.

3. Prioritize Big Purchases

If there’s something expensive you want, designer shoes, a new phone, or a trip abroad, don’t buy it impulsively. Save for it over time instead of putting it on credit or draining your bank account in one go.

Investing and Wealth-Building Tips for Young Women

While enjoying life now is important, financial security in the future matters even more. The choices you make today will determine the kind of life you’ll live in the next 5, 10, or 20 years. Wealth-building isn’t just for the rich, it’s for any woman who wants options, freedom, and stability in the future. But let’s be honest, many young women focus only on the present, spending every coin on the latest trends, vacations, or lifestyle upgrades, while putting off serious financial planning. Why? Because instant gratification is tempting.

Why Do People Focus on the Now?

1. Social Media Pressure: Seeing influencers and peers living lavishly creates FOMO (fear of missing out), making us feel like we should also be spending to "keep up."

2. Lack of Financial Knowledge: Many people don’t understand the power of investing, so they assume wealth-building is only for the rich or those with high salaries.

3. Thinking "I’ll Start Later": Some believe they have time and that saving and investing can wait—until life responsibilities (family, emergencies, or economic downturns) make them regret not starting earlier.

4. Cultural Norms & Expectations: In some African societies, young women are expected to "enjoy while they’re young," with little emphasis on financial independence.

5. Emotional Spending: Retail therapy is real! Many women spend money to feel good, reward themselves, or escape stress without thinking about the long-term effects.

While enjoying life is important, failing to plan for the future can lead to financial struggles down the road. The truth is, if you don’t prioritize wealth-building now, you may struggle to maintain the lifestyle you love later.