How do I make this money or what do I need to do to make this money and invest
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Imagine Mama Ngozi, who sells her ripe tomatoes in the village, wants to grow her income and invest for a better future. Mama Ngozi, like all of us, can make more money and invest by following some simple steps.First, Mama Ngozi can increase her income by exploring new opportunities. She can try plaRead more
Imagine Mama Ngozi, who sells her ripe tomatoes in the village, wants to grow her income and invest for a better future. Mama Ngozi, like all of us, can make more money and invest by following some simple steps.
First, Mama Ngozi can increase her income by exploring new opportunities. She can try planting more crops, selling additional products, or finding ways to attract more customers to her market stall. By increasing her sales and expanding her business, Mama Ngozi can grow her income steadily.
Once Mama Ngozi has more money, she can start thinking about investing. Investing means putting your money into things that have the potential to grow in value over time. Mama Ngozi can consider investing in different options like stocks, bonds, or even starting a small side business.
Before investing, Mama Ngozi should educate herself about the various investment options available. She can learn about the Nigerian Stock Exchange, where companies sell shares to raise money, or explore safer options like Treasury Bills or mutual funds. By understanding how each investment works, Mama Ngozi can make informed decisions.
When Mama Ngozi decides to invest, she should start with an amount she can afford to lose. Investments can go up and down, so it’s important not to put all her money into one investment. Diversifying her investments can help reduce risks and protect her money.
Mama Ngozi should also be patient and think long-term. Investments are like planting seeds – they need time to grow. By staying invested for the long haul, Mama Ngozi can benefit from compounding, where her money earns returns on the returns, helping her wealth grow faster.
Remember, investing is not a get-rich-quick scheme. It requires patience, knowledge, and a willingness to take calculated risks. By following these simple steps and being diligent in her efforts, Mama Ngozi can grow her income and secure a brighter financial future for herself and her family.
See lessFocus on a skill or activity that people will pay you for. Examples: Electrical/electronics and motor-control work Programming or IT Graphic/video design Digital marketing Sales Skilled trades Freelancing/consulting Small businesses with repeat customers Create a monthly investment amount Don't waitRead more
Focus on a skill or activity that people will pay you for. Examples:
Electrical/electronics and motor-control work
Programming or IT
Graphic/video design
Digital marketing
Sales
Skilled trades
Freelancing/consulting
Small businesses with repeat customers
Create a monthly investment amount
Don’t wait until you are “rich” before investing.
For example, if you eventually earn ₦300,000/month:
Use
Example
Living expenses
₦180,000
Emergency savings
₦30,000
Investment
₦60,000
Skill/business reinvestment
₦30,000
Build an emergency fund first
Before putting a large amount into investments, keep accessible savings for unexpected expenses. A common target is 3–6 months of essential expenses.
Then invest consistently
Depending on your country, goals, risk tolerance and time horizon, investments can include things such as:
Government securities
Money-market funds
Broad diversified stock/index funds
Bonds
Real estate
Your own business/skills
Avoid putting all your money into one investment o, and be particularly cautious about investments promising guaranteed, extremely high returns.
See lessIf you want to increase your income and start investing in Nigeria, I would approach it in this order: 1. Know exactly where your money is going. Track your income and expenses for 30 days. You cannot improve what you don't measure. 2. Create a gap between income and expenses. Reduce unnecessary speRead more
If you want to increase your income and start investing in Nigeria, I would approach it in this order:
1. Know exactly where your money is going.
Track your income and expenses for 30 days. You cannot improve what you don’t measure.
2. Create a gap between income and expenses.
Reduce unnecessary spending, but don’t depend on cutting expenses alone. If your income is already tight, your bigger goal should be increasing what you earn.
3. Build an additional income stream.
Start with something you can realistically do with the skills or resources you already have—freelancing, selling a useful product, providing a service, teaching a skill, or another small business. Start small and improve it gradually.
4. Build a small emergency fund.
Investing money that you may need for an emergency can force you to sell at the wrong time. Build some financial cushion first.
5. Start investing with what you can consistently afford.
Depending on your goal and risk tolerance, you can research options such as money-market funds, government securities, bonds, mutual funds or shares. Don’t invest simply because someone promises high returns.
6. Increase the amount you invest as your income grows.
You don’t need to wait until you have millions before developing the habit. Consistency matters.
The bigger picture is:
Increase income → control spending → create surplus → build emergency savings → invest consistently → increase investments as income grows.
There is no single investment that will solve an income problem. First build the ability to generate and keep money; then let your investments help that money grow.
See lessMany people think the only way to have more money is to earn more. That is true, but it is only half of the story. There are actually two basic ways to make more money available to you: 1. Increase your earnings – get a better job, side hustle, skill, or business. 2. Manage what you already earn – rRead more
Many people think the only way to have more money is to earn more. That is true, but it is only half of the story. There are actually two basic ways to make more money available to you:
1. Increase your earnings – get a better job, side hustle, skill, or business.
2. Manage what you already earn – reduce expenses and waste so more of your money stays with you.
Most people focus only on number one. They chase more money without success. But the hidden part is number two. Many people earn enough but almost waste everything, then cry of lack. So before you run after more income, first plug the leaks in what you already have.
So Lets look at it this way
Step 1: Start With What You Have – Stop the Leaks
Look at your money like a bucket of water. If the bucket has holes, you can pour more water in, but it will still finish. So first, patch the holes.
And here is what to do now.
A. Track your spending for one month. Write down everything you buy – even small things like sachet water, airtime, transport, and snacks.
B. Separate needs from wants. Needs are food, rent, transport to work, school fees, data for work. Wants are things you can survive without e.g extra clothes, eating out often, betting, unnecessary subscriptions.
·# Cut waste. Cook at home more, buy in bulk, use public transport sometimes, reduce data usage, stop impulse buying.
C. Pay yourself first. The moment money enters your hand, remove a small amount – even ₦500 or ₦1,000 – and keep it safe before you start spending.
This is not about suffering. It is about discipline. If you can manage ₦20,000 well, you can manage ₦200,000 well. The problem is not always how much you earn. It is how much you keep.
Step 2: Increase Your Earnings
After you have stopped the leaks, now you can add more water to the bucket. In Nigeria today, there are many simple ways to earn more:
# Learn a skill that pays. Examples: tailoring, baking, phone repair, coding, graphic design, hairdressing, catering, solar installation, POS business, barbing.
·
#Start a small side hustle. Sell something small, do delivery, run a mini importation business, offer tutorial services, or sell airtime and data.
·
#Ask for a raise or promotion at work if you have proof that you add value.
·
#Use your phone and data wisely. You can learn free skills on YouTube, Coursera, and other platforms. You can also sell online through WhatsApp, Instagram, and Facebook.
·
# Rent out what you have. If you have a spare room, shop, or equipment, you can earn from it.
The key is: start small, be consistent, and reinvest.
Step 3: Now Start Investing
Investing means putting your money somewhere it can grow, instead of just sitting idle. In Nigeria, you can start small.
Simple investment options for beginners:
1. Savings and fixed deposits – Put money in a bank fixed deposit or a savings app that gives interest research and choose the best.
2. Treasury bills and bonds – Government-backed and relatively safe. You can buy through banks or apps.
3. Mutual funds – You join many people to invest, and professionals manage it. Good for beginners.
4. Stocks (shares) – You buy small ownership in companies. Start with blue-chip companies through a stockbroker.
5. Real estate – Land or small property. It is bigger money, but you can start saving toward it. Even Reits are a good option now
6. Your own business – Investing in your skill or hustle is also an investment.
7. Digital assets – Be very careful here. Crypto and online schemes are risky. Only invest what you can afford to lose, and avoid anything that promises quick double money.
8. Intellectual properties like books and other crafts too especially when you have the gifting can be utilized.
But you must also be mindful of these rules for investing:
1. Never invest money you need for food, rent, or school fees.
2. Start small and steady. ₦1,000 or ₦5,000 monthly is fine.
3. Learn before you invest. Ask questions. Avoid pressure.
4. Diversify. Do not put all your money in one place.
5. Think long term. Quick riches are usually traps.
and finally in summary do these.simple formula:
Manage what you earn → Reduce waste → Increase your earnings → Invest the difference consistently.
For example:
· You earn ₦50,000 monthly.
· You cut waste and save ₦5,000.
· You start a small side hustle and earn extra ₦10,000.
· Now you have ₦15,000 to invest monthly.
· After one year, that is ₦180,000 plus any profit.
That is how ordinary people build wealth. Not by magic, but by discipline, skill, and consistency.
You do not wait until you earn “big money” before you start. Start with what you have. Manage it well. Grow your income. Invest small and steady. Avoid get-rich-quick schemes. Be patient.
In short:
Stop the leaks. Add more water. Then store it where it can grow.
That is how you increase your income and start investing in Nigeria – even as a layman.
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