Nuevo Poor (Word For The Week)
Nuevo poor is a financial situation where someone is poor without technically being poor.
It is when someone can afford most things, but they know their bank account though in the greens, is just one payment away from being in the reds.
Most millennials and Gen Zers are nuevo poor. It isn’t exactly peculiar to Nigeria. It is also not in any way a result of carelessness or financial indiscipline.
The nuevo poor state of the next generation is more a result of policymakers from previous generations putting global economics in a state of disjoint.
Across the globe, financial independence is becoming more of a mirage than a feasible reality. Many people are forced to delay major financial decisions until later in life than their parent’s generation did.
This is reflected in late marriages, childbearing, and property purchases.
We are seeing more young adults moving back in with their parents after graduating from school. In some cases, after earning a second degree too.
Others are forced to share a house or split purchases with friends until later than they would have loved.
All of this is happening with a generation that is joining the workforce earlier than their parents. They are also keeping more simultaneous jobs than previous generations did.
Yet, they are one emergency or missed/delayed paycheck away from being poor.
Being a Nigerian in this situation is double jeopardy. As much as the global economy has gone belly up, the Nigerian government is competing with itself in trying to snuff out life and happiness from its citizens.
I should point out that I first heard the phrase nuevo poor from FK Abudu on the I Said What I Said Podcast.
If you are not a listener of it, you might be missing out on one of the few joys Nigeria still affords us. FK and Jola Ayeye have proven to be a stress-relieving duo.
Finally, because the system looks rigged against us doesn’t mean we’ll give up.
Where there is a will, there is a way.
And because the Nigerian government will try to block that way, where there is a Nigerian will, there is an Appian Way.