Invest now, spend later

Hi guys,

It has been a whileeeee🤗😔

How have we been…..

So my last post dealt on the concept of investment and how it is imperative we invest.

I also mentioned that i will be discussing some investment options that would be a good start for new investors.

So first of, there are several investment options available to a potential investor. However, there are basic requirements for every investment plan.

First, before investing in any plan, you need to be aware of the terms and conditions, the minimum investment, the risk and return, the maturity period and what have you.

Consequently, there are investment platforms that are considered risk free which are recommended for potential investors who are averse to risk especially investors who are in need of periodic income with little or no risk.

So for example, i currently invest in a couple of platforms that are relatively risk free with some good return. These platforms offer you flexibility, good rate, and control over your funds. Aside from that, you don’t need a large amount of money to start with, also based on your preference you can set the frequency of investing, be it daily, weekly, or monthly. You can also withdraw your funds when in need.

However, for investors that would rather want capital appreciation and not regular income, you can safelock your investment and set a future date for maturity which enables your money grow faster.

So as not to bore you, these platforms are Piggybank and CowryWise. These names are familiar with some of us, and this is not in any way to advertise these brands, this is simply a satisfied investor who has been able to financially plan thanks to these platforms.

Investment platforms are not exhaustive, there are several others that are available to new and potential investors. However, i am recommending these two for a start because they are both relatively risk free and easy to understand.

In subsequent posts, i would be discussing other investment options available to investors who are more risk seeking. We all know with higher risk comes higher returns.

So what are you waiting for….. start investing for that blissful future you have always imagined…. it starts now!!!!

See you next time

Cheers😊😊

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The parable of talents

Hi guys,

So it has been a week since i last posted.

I believe my last post was a great starting point for building an healthy financial life.

In today’s series, we would be talking about increasing wealth using the parable of the talent.

The parable of the talent simply tells us how we can increase our resources using the resources with us.

Payday for some people is a time of excitement because they get to spend it on all kinds of things, to some people, a time to pay off their debt, and for the last thought few set of people, payday doesn’t necessarily change much.

You would wonder why this is so for these set of people.

The answer is simple. The salary as a source of income is just one out of many other sources. They are the set of people that are not heavily dependent on their salary. They are forward looking.

The concept of investment can not be overemphasized. The question to ask yourself is, what portion of my salary is kept aside for wealth creation? Do i save/invest the portion left after all expenses or is it the opposite?

Investment is a beautiful phenomenon. How does the idea of your money working for you sound?. Awesome, right?.

Investing is not as ambiguous as you make it sound. It is not about having thousands of money before putting it for investment.

There are different investment options that accommodates different kind of investors with different investment outlay. As little as you think an amount is, if kept in that investment option/platform will yield interest with gradual increase.

The wealthy didn’t become one by consuming all their income on non productive ventures. They developed a lifestyle of multiplying their income through investments.

I am quite aware that the questions on our minds is, so what do we invest in or how do we create a portfolio of good investments.

Well, not to worry. We will be dealing with that subsequently and i will be sharing insights into what is termed bad or otherwise good investment.

On this final note, i bid you a lovely healthy financial week.

Cheers.

Where do i start from!!!

Hi guys,

So you might be pondering on how to go about keeping your expenses within limits and ways on growing your finance.

Here are some few tips on a great start:

1. You have to know your net worth: This is basically the difference between all your earnings and your owings or expenses…. a positive figure means you have more resources than what you spend. This assessment should be done periodically to compare trend and see if your worth is reducing yet maybe still positive.

2. You need a workable budget: You can’t start a day by not having a planned amount of expenses with a little for contingencies. You cannot say i will try to control how i spend without having a budget that works. Your budget must be realistic and reasonable. What are your planned expenses and earnings for a month? Is your planned expenses more than your earnings? Are your expenses on necessities or luxury?

3. There is nothing as important as planning for the future: You cannot say that my retirement is still far away in the future. You have to plan towards it. You dont want to retire and cant live comfortably. You need to save for that beautiful future you desire.

4. Do you have an emergency fund: we live in a world where we are not accurately certain of what the next minute will bring. In planning your expenses, you need to put into consideration the possibility of an emergency cropping up that will demand a pull on your resources.

5. Do you have to borrow?

No!! Live within your means. Being a debtor puts a burden on you financially and rather than enjoying your income, you are paying debt with little or nothing left for savings or investments. Do you really need all what you spend on. Are they things that will earn enough for you to pay back from. If NO, dont borrow.

6. Keep a track of your debts, bills and everything that goes in and out of your account: This helps you monitor the growth or otherwise of your earnings, expenses, debt and other payments. It helps you plan on how to control your resources.

Lets start to lead a life we would be proud to will to our children

Cheers!!!

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