So Many Ways to Make Money in Nigeria (1)

No currency beats honest currency! You don’t have to launder it, hide it, bury it or look over your shoulders afraid someone is going snatch it away in the same manner it was gotten.

With honest currency, all you need is just the right amount of:

• Self-discipline
• Principal 
• Active and reliable portfolios 
• Getting knowledgeable about financials and investment jargons as well as an 
• Awareness of the many short and long term investment options there are

Here’s a surprise. Do you know that your next rent money for the flat you live in can return money on investment for you when kept in a fixed deposit account for one year? At the current interest rate of 10% - 11% that same rent money, say for example it’s N250,000 will yield @10% another N100,000 within that year. This is the equivalent of N25,000 every three months! Not bad, right? 

So if you have your next rent money on hand, rather than keep the money stashed away in a cupboard for three months sitting there doing nothing for you, with this knowledge you now can make your money work for you! Try it! It’s fun too! Just take along the necessary documents: Valid I.D, Passport, Utility Bills no less than six months, Bank Verification number and Signature card and you’re in!

Imagine what you will be earning year-in year-out if you make that fixed deposit secured for your child’s future education! No more school fees worry!

In fact, if someone gives you money to hold for him because he doesn’t want to spend it, the right place is a fixed deposit account! Because it is fixed, you cannot have access into that account no matter what until the number of days you’ve agreed to with the bank: 30 days, 60 days, 90 days or more. 

This is one way to make your money work for you! It also teaches you to have patience, learn to plan better, develop self-control when it comes to how you see money, savings, and investments and how you plan your future: owning a home (even when you’re single!), education, training, family obligations etc.

There is no shortcut to gaining honest wealth. Those who attempt shortcuts on the way always get burnt in the long run. Although some may live to spend their money, quite a number don’t.

But your case need not be like that. Start making your small change work for you and sit back and watch it yield money for you. No wayo-wayo; no jibiti! Just simple honest business.
Go visit your bank today! Now!

The next article will give you more info on other money investments you can tap into: http://ladyechannel.blogspot.com/2015/03/so-many-ways-to-make-honest-money-in.html

So Many Ways to Make Honest Money in Nigeria (2)

If you think that your Savings Account is just for withdrawals only, think again! 

Did you know that your Savings Account can earn you at least 2% for a certain period? The next time you visit your bank, ask the customer officers how long does their bank require money in an account to sit for it to earn 2%. You think two percent is small? 

Let me give you a break down. Suppose you have twenty thousand naira that you do not want to spend or have no need for, how would you make it earn money for you?

Let’s say you place this money into your savings account, how much do you think that will earn you in a month  if you don’t withdraw from this particular account? That is a whopping N4,000! That’s the return on investment for money just sitting in your savings account. That means in a week, your N20,000 makes you N1,000. How many of you have friends who would just dash you N1,000? Do you remember those times when you needed only N1,000 and there was nobody to give you! 

I’m writing this piece so you can start thinking seriously of the many cool, unhurried and honest way you can make money without breaking a sweat! 

And you will agree too, that easy-money is not easy. Not to mention the heartbreak, feelings of been used or worthlessness that envelops you when you take that route. Why go for that when you can settle for much better, eh?

MORE INVESTMENT OPTIONS:

Shares from the Capital Market 

In capital market, the higher the risk, the higher the returns. The limit of making money is not fixed as market lasts for five days; easy ways to cash out emergency cool cash from the stocks when you sell. 

If you’re young and in the working class, then shares and stocks are good options to invest in. Investing on a medium and long term gives you the best returns. 

Shares and stocks always out-perform inflation so you can always get your profits. 

With shares, always buy a mixture of portfolios on a long term basis e.g. a mixture of shares: Nigeria Breweries (very steady), Access Bank etc.

Always ask you financial adviser on the offers obtainable. It is however, sad that many Nigeria bankers don’t take time to help their ‘ordinary’ customers see these options except when they are perhaps high flying individuals. 

Well, now you know. So take your time and ASK! Don’t be afraid to ask because it is your money. Bank with a bank that cares about your money. Forget going for classy banks to feel you belong. If they don’t help you save and make money, then of what use are they to you?

Learn to be more financially literate. READ FINANCE PAPERS, BOOKS and watch financial news to give you an idea of how it works too. Your money is too valuable. Don’t waste it on things that don’t make your money work for you.

Real Estate

Build apartments and rent out. Better still get asset managers to do a good job of managing your property for you – that way you also learn the ropes. A note of warning: be careful whom you give this job to manage. Make research, ASK, ASK and ASK. Get your facts right and be as involved. It’s your money, your asset: so it matters.

Fixed Income

Treasury Bills, government bonds, and mutual funds guarantees principal invested along with profits made at the rate of 10.5%-11%. 

Look for a merchant house or bank that trades in high volume portfolios as they trade no less than 74% of funds in capital market. 

You will be surprise to find out investing only N50,000 in a mutual fund also know as Coral Income and Coral Growth Fund can be one of the best decisions you could make as it provides you the opportunity to learn about, be involved in and have a better and sharper knowledge of how you can invest wisely in fixed incomes while getting a better understanding of the movement in capital market.

Now you have no excuse to remain ‘poor’, be without money or go begging friends to always lend you small change.

All it takes is discipline, commitment, patience and a passion never to beg!