An engineer and entrepreneur, Cosmos Agyeibi, has urged young people to develop sound financial habits, acquire investment knowledge and explore business opportunities as a means of building wealth and achieving financial independence.
Speaking on Orange Sunrise on Thursday, October 9, 2026, during a discussion, he emphasized the need for young people to take greater control of their finances through effective money management, saving and strategic investment.
Engineer Agyeibi encouraged young people to begin by tracking their spending to understand where their money goes and identify areas where unnecessary expenses can be reduced.
He recommended that individuals monitor their finances for at least three months before reviewing their spending habits and making the necessary adjustments.
According to him, managing expenses alone may not be enough, particularly when income is limited. He urged young people to explore additional income streams to improve their financial standing.
“Realize money coming in was small, so find other means to earn,” he advised, stressing the importance of increasing income while maintaining disciplined spending habits.
Engineer Agyeibi highlighted entrepreneurship as an important avenue for wealth creation, encouraging young people not to depend solely on their monthly salaries but to consider investing in viable businesses.
He explained that building wealth requires a deliberate effort to identify opportunities and develop the knowledge needed to succeed in business.
“If you want to invest in any venture, you don’t need money first; you need knowledge,” he stated.
He urged prospective entrepreneurs to conduct preliminary research into their chosen fields, while cautioning against spending excessive time seeking information without taking practical steps.
He also advised young people to begin on a small scale rather than committing all their available resources to a new venture.
“Do not put all you have into a business at first. Start with a little to see how it goes,” he said.
He explained that starting small allows entrepreneurs to assess the viability of a business before committing additional resources.
The engineer further underscored the importance of saving with a clear objective, noting that individuals should identify what they intend to achieve with their savings before setting money aside.
He encouraged young people to invest in their personal development by learning about their preferred business sectors and acquiring the relevant skills before launching their ventures.
On compound interest, Engineer Agyeibi used the example of saving $500 monthly to illustrate how consistent contributions and the growth of accumulated funds could help individuals build substantial wealth over time.
However, the actual time required to accumulate a million dollars would depend on factors such as investment returns, fees and the period over which the money is saved or invested.
Engineer Agyeibi also expressed concern about what he described as the reluctance of some tertiary-educated young people to participate in informal and small-scale business activities.
He observed that some graduates appear unwilling to engage in the kinds of commercial activities undertaken by their mothers and other traders, despite the potential for such ventures to generate income.
He encouraged young people to reconsider their perceptions of entrepreneurship and recognize that business opportunities are not limited to formal employment or corporate settings.
He further cautioned individuals seeking business partnerships tonderstand their prospective partners’ activities and financial dealings before entering into agreements.
“If you’re going into a partnership with someone, you have to be aware of and made known all their activities,” he advised.
He stressed that transparency and adequate knowledge of a business partner’s operations are essential considerations when establishing a partnership.
Engineer Agyeibi concluded by encouraging young people to invest in themselves, acquire relevant knowledge and approach saving and entrepreneurship with clear goals.
He maintained that financial progress requires more than earning a salary, urging young people to combine financial discipline with continuous learning, careful planning and a willingness to explore business opportunities.
