Rent, appliances and gadgets can take a substantial chunk out of anyone鈥檚 account when paid for all at once. Even when the money is available, one large payment can disrupt or delay other financial plans.
For these Nigerians, flexible payment options provided a better way to manage major purchases without putting the rest of their lives on hold. From moving cities to furnishing new apartments, they share how paying in instalments helped them get what they needed without making them bankrupt.
鈥淧aying rent monthly helped me move cities鈥 鈥 Deja*, 29, F
Before I moved to Lagos in 2022, the biggest barrier I faced was the cost of relocation and, most especially, rent. I鈥檇 tried to save up for it, but I hated the idea of spending all that money on rent, then dropping another bag on moving my things between states.
Thankfully, I came across a serviced building online that accepted monthly payments with a low registration fee and in three weeks, I was moved to Lagos. I lived there for two years, paying my rent monthly, before I decided I wanted a bigger space and moved out. I liked the arrangement because it freed up my funds for so many other things. I wish my new place took monthly payments too.
鈥淲hen I change my phone, instalments are the way to go鈥 鈥 Kelvin*, 26, M
My family went through a rough time financially when I was in university, and it鈥檚 made me hate spending lump sums of money on non-necessities. If it鈥檚 not food or rent, I really don鈥檛 want to see a debit alert going into the hundreds of thousands.
After uni, when I started working, I was using the same iPhone 8 my parents got me. It wasn鈥檛 convenient, and I had enough money saved up for another phone, but I was scared of getting scammed and starting from zero. It wasn鈥檛 until a friend introduced me to his older brother, who sold gadgets, that I considered it. He offered me a monthly payment plan, which made the offer juicier. I agreed and signed a contract, and in 8 months, I had fully paid off my brand new iPhone in 2023.
鈥淚 furnished my apartment without draining my savings鈥 鈥 Yemi*, 35, M
When I moved out after living with my older brother for almost a year, I鈥檇 saved enough to buy basic plastic chairs. But paying for a bed, couch and wardrobe at once would鈥檝e wiped out my savings.
A furniture shop I checked with offered me the option to make a deposit and spread the balance over several months. I bought my bed and wardrobe first, then added the couch later. The monthly payments were easy to include in my budget, and I didn鈥檛 have to touch my emergency funds.
Some friends advised me to furnish the apartment gradually with whatever I could afford outright, but I didn鈥檛 want to spend another year managing plastic chairs in the living room. Paying in instalments allowed me to make the space comfortable immediately while still having money available for other plans.
鈥淎 payment plan saved my Saturdays from laundry鈥 鈥 Amaka*, 32, F
I hate how much time my laundry used to take me. If I wasn鈥檛 shelling out all I had to washers and laundromats, I was spending hours of my time with my hands soaked in soapy water. I wanted a washing machine, but kept postponing it because I didn鈥檛 like the idea of spending that much money at once.
When I saw an online store offering an instalment plan, I did the calculations and realised the monthly payments could fit into my budget without affecting my savings target. I made the initial payment, received the machine and completed the balance over ten months.
It may sound like a small thing, but getting that washing machine changed my life. I could鈥檝e continued saving until I was ready to pay in full, but the payment plan let me start enjoying the convenience immediately.
鈥淚 bought a new television without abandoning my other plans鈥 鈥 Gbenga*, 39, M
My wife and I had wanted to replace our television for over a year, but other expenses always took priority. We could afford the model we wanted, but paying for it at once would鈥檝e meant that other plans for the family would need to be moved around.
I looked for an online store offering instalment payments, paid the deposit and spread the balance over nine months. We got the television immediately, and the monthly payments were small enough to fit into our household budget without us touching the money we kept for other things.
Before then, I associated payment plans with buying things you couldn鈥檛 afford. The experience changed my mind. Sometimes, you have the money but don鈥檛 want one purchase to swallow such a large amount at once. I like that I didn鈥檛 have to sacrifice another thing to get something I wanted.
Flexible payments aren鈥檛 limited to gadgets or furniture. is helping expand access to credit in Nigeria by making major expenses easier for working professionals to manage. Through the platform, customers in Lagos and Abuja can rent homes and pay monthly instead of committing an entire year鈥檚 rent upfront. Its Buy Now, Pay Later model also allows customers to get furniture, appliances, gadgets and wellness equipment after paying 35% upfront, then spread the balance across monthly payments for up to 12 months.
By bringing housing and essential household purchases under one flexible-payment platform, SmallSmall helps 9-to-5ers reduce the pressure of large, one-off payments without putting important needs or other financial plans on hold.
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