There are various Apps available of which you can use to investing in stocks such as, InvestNaija, ARM one, NGX etc. (these a mentioned are registered brokers though) Having this App will require to do your KYC. Do it and get your account setup.. Ensure you get your CSCS and CHN number before your sRead more
There are various Apps available of which you can use to investing in stocks such as, InvestNaija, ARM one, NGX etc. (these a mentioned are registered brokers though)
Having this App will require to do your KYC. Do it and get your account setup..
Ensure you get your CSCS and CHN number before your start to invest basically.
MMF (Money Mutual Fund) is good for capital preservation and for capital increase. Now the beautiful part is, you can see the growth of you money via the App you are using to invest for the MMF. Why we encourage MMF is, the intrest rate they pay is better than that of the bank saving account. And beRead more
MMF (Money Mutual Fund) is good for capital preservation and for capital increase.
Now the beautiful part is, you can see the growth of you money via the App you are using to invest for the MMF.
Why we encourage MMF is, the intrest rate they pay is better than that of the bank saving account.
And beautiful enough you can withdraw it whenever you want to after the initial 30days withholding limits.
Now let’s make a little calculation.
If you put say 30,000 for 1 year with the intrest rate of 15%.. Guess how much.
Finial balance is 415,520.51
Breakdown.
Total money of 30,000 *12= 390,000
Total intrest = 25,520.51
Total =390,000+25,520.51=415,520.51 (I used the calculator in FOKONA.
So you see, in normal bank saving, you cannot get up to 10,000 for a year.
When dealing with finance, you must understand that pressure has the potential to make you take a rash decision. Now let's talk about Vashni... Okay, when growing up, most time as kids, we play some game more like a prank. You will see us suddenly running, and then you that was walking calmly will jRead more
When dealing with finance, you must understand that pressure has the potential to make you take a rash decision.
Now let’s talk about Vashni…
Okay, when growing up, most time as kids, we play some game more like a prank. You will see us suddenly running, and then you that was walking calmly will just start running for no cause. When asked why are you running, you will discover how ignorant you are. In fact there is a saying which states that ” ignorance is not an excuse”
Having said this, as a beginner, my three start will be;
1. Go for knowledge.
If your money cannot buy you books, courses etc, at least you have access to physical and digital library which is for free.
2. Make a feasible budget for yourself and make some Savings. Remember you must eat too ooo… Because for mama Ngozi to see clear and think clear, food is a factor.
3. Deal with impatience. Most times we make mistakes in our fiance not because we don’t have the Knowledge, budget and savings. But because we are impatient. We want immediate gratification. Nooo… Learn to be patient with yourself and build gradually.
Now let’s talk about the irregularities in payment. Especially when it is 10,000 Naira.
1. Put your money in percentages in respect to items. That is, everything you do should have a budget. This will be a good guide for you.
I believe in a principle “if you can’t keep the seed when you have it, you will look for the harvest but will find none. ”
It is discipline. 10,000 many not be enough, butay be a seed to the enough. Plan wisely.
2. Find a way to increase your income.
You can start with mutual funds, get a skill and increase your value, do a partnership kind of business, etc.
How Can I Invest in a Money Market Fund in Nigeria?
There are various Apps available of which you can use to investing in stocks such as, InvestNaija, ARM one, NGX etc. (these a mentioned are registered brokers though) Having this App will require to do your KYC. Do it and get your account setup.. Ensure you get your CSCS and CHN number before your sRead more
There are various Apps available of which you can use to investing in stocks such as, InvestNaija, ARM one, NGX etc. (these a mentioned are registered brokers though)
Having this App will require to do your KYC. Do it and get your account setup..
Ensure you get your CSCS and CHN number before your start to invest basically.
And you must be sure it is an registered broker.
See lessHow Can I Invest ₦30,000 in a Money Market Fund as a Student?
MMF (Money Mutual Fund) is good for capital preservation and for capital increase. Now the beautiful part is, you can see the growth of you money via the App you are using to invest for the MMF. Why we encourage MMF is, the intrest rate they pay is better than that of the bank saving account. And beRead more
MMF (Money Mutual Fund) is good for capital preservation and for capital increase.
Now the beautiful part is, you can see the growth of you money via the App you are using to invest for the MMF.
Why we encourage MMF is, the intrest rate they pay is better than that of the bank saving account.
And beautiful enough you can withdraw it whenever you want to after the initial 30days withholding limits.
Now let’s make a little calculation.
If you put say 30,000 for 1 year with the intrest rate of 15%.. Guess how much.
Finial balance is 415,520.51
Breakdown.
Total money of 30,000 *12= 390,000
Total intrest = 25,520.51
Total =390,000+25,520.51=415,520.51 (I used the calculator in FOKONA.
So you see, in normal bank saving, you cannot get up to 10,000 for a year.
Go for MMF.
See lessWhat Are the Best Investments for Parents to Secure Their Children’s Future in Nigeria?
You can invest in 1. Real estate. Buying of lands is a real asset. 2. Buy Shares 3. Buy Bonds 4. Invest deeply into there financial knowledge.
You can invest in
See less1. Real estate. Buying of lands is a real asset.
2. Buy Shares
3. Buy Bonds
4. Invest deeply into there financial knowledge.
Which App Can I Download to Buy and Sell Stocks in Nigeria?
They are many apps to download to buy shares but I will mention a few. You can download 1. InvestNaija 2. ARM ones 3. Bamboo, etc.
They are many apps to download to buy shares but I will mention a few.
See lessYou can download
1. InvestNaija
2. ARM ones
3. Bamboo, etc.
If You Were in My Position, What Would You Do With Your Next ₦10,000?
When dealing with finance, you must understand that pressure has the potential to make you take a rash decision. Now let's talk about Vashni... Okay, when growing up, most time as kids, we play some game more like a prank. You will see us suddenly running, and then you that was walking calmly will jRead more
When dealing with finance, you must understand that pressure has the potential to make you take a rash decision.
Now let’s talk about Vashni…
Okay, when growing up, most time as kids, we play some game more like a prank. You will see us suddenly running, and then you that was walking calmly will just start running for no cause. When asked why are you running, you will discover how ignorant you are. In fact there is a saying which states that ” ignorance is not an excuse”
Having said this, as a beginner, my three start will be;
1. Go for knowledge.
If your money cannot buy you books, courses etc, at least you have access to physical and digital library which is for free.
2. Make a feasible budget for yourself and make some Savings. Remember you must eat too ooo… Because for mama Ngozi to see clear and think clear, food is a factor.
3. Deal with impatience. Most times we make mistakes in our fiance not because we don’t have the Knowledge, budget and savings. But because we are impatient. We want immediate gratification. Nooo… Learn to be patient with yourself and build gradually.
Now let’s talk about the irregularities in payment. Especially when it is 10,000 Naira.
1. Put your money in percentages in respect to items. That is, everything you do should have a budget. This will be a good guide for you.
I believe in a principle “if you can’t keep the seed when you have it, you will look for the harvest but will find none. ”
It is discipline. 10,000 many not be enough, butay be a seed to the enough. Plan wisely.
2. Find a way to increase your income.
You can start with mutual funds, get a skill and increase your value, do a partnership kind of business, etc.
3. Keep focus, focusing.
Thank you!
See less