Hi all!

Just have an idle cash of N15,000 and i think it would be wise for me to invest it despite the amount.

But the problem is how and where do i invest it.

I'd really appreciate your comments and advice.

Thanx.

Do you mean N15000 or N150000. If it's N15000, an equivalent of $100, that really won't do much other than petty trading.

I don't know how the stock market is over there, especially in terms of minimum investment. However, if the money is that idle, you could consider either putting it into the stock market or into a fixed deposit account that yields interest.

All in all, since as you say it is "idle money", once invested, do not look at or care about it for a loooong time, at least 10 yrs. If interest is compounded, then all things being equal, you will be amazed what that money will yield you in the long term.

I hope this helps.

N15,000 for stock market??, I think pure water will be the best investment.

As I said above Bibi,

I don't know much about the Nigerian Stock Market. From the amount, it is roughly $100. I started a sharebuilder.com stock market account for much less - $5

Oh well, what do I know. I just thought I should contribute

Yo!!!
Invest in me and i gurantee over lots of $$$ in returns.
holla back
he he he he he

Naira 15,000 is about $100. For that amount i would say your options include the casino, see if you can double it, pure water, recharge cards, or just straight sell some kind of airtime from your phone.

there is a lot you can do with N15000.00 in Nigeria. I shall list a number of things you can do in Nigeria.

(1) Prepare and sell suya outside your house in Nigeria- ( i have tried it before, I made some money from it.)

(2) Prepare and Sell akara and dundun - (there was this woman in Ondo town that built several building just selling akara and dundun every night. Before i left Nigeria, she was still selling them

(3) Use to bribe someone to give you a job at tin can island in Lagos. There is always vacancy for hard working men

(4) Use the money to buy stamps and envelopes and send your CV to all major marketing companies in Nigeria

(5) Use the money to buy paint and brush and do some modern art- put in a frame and sell them - I have tried this when i was doing my NYSC. I made money out of this. People will buy them just to help you. The money you make you can then do whatever you want with it.

(6) , some other time eh !

If it is any encouragement to anyone out there, during my NYSC year, I was doing three jobs at the same time, while some of my friends were complaining that there was no job. I was assigned to a local goverment, which i shall not mention. I struck a deal with the chairman of the local govt and he told me that i did not have to come to work (actually, he told me not to come because the politics was too much for me) but he will pay my alawee.

2ndly i was a teacher in a school teaching economics three days a week. I went to the nearest town and told some business men that i would run their errand for some money. they agreed (what they paid me was little for the errand but money always add up.

3rdly i observed that the local people made baskets from palm tree leaves, so i bought some baskets, painted them and took them to lagos. I sold them all. I did all of these feats and more in my NYSC year that i was able to spend my spare time travelling around nigeria. There many risks, especially travelling in what was called night bus all the time (in order to return the monday morning to teach at the local school). When i started, my friends were laughing at me. Now I am laughing all the way to the bank.

When I got fed up with doing busness in Nigeria, i travelled to the UK. You do not have to believe me.

i hope this is useful to someone out there. If you believe that the glass is half full you will make it. If you believe that the glass is half empty and you blame everybody else then you are doomed to failure.

@avocat !!

meeeeeeeen ! I dough hat for you o! u be real hassler ! I am sure u won't stay long in uk b4 u save enough to go back home and start a cooool business keep it up I respect your guts !


once again bro. 'RESPEKT'

They say in life you have to take risks to succed, try and gamble you might get double and it continues like that, But to use 15k to start buisness i dont know how possible that is.

@my2cent, i am thinking of delving into www.sharebuilder.com what is your experience like?, i want to be sure of the authenticity.

gbenga,

It is authentic and legit. You determine how much you want to invest and on what intervals. As I said, you can start as low as $4. There are various plans. I chose the middle one. Of course, look for long-term growth. t it in there, don't go checking everyday, cos you own, say, .001% of a stock at a time. Of course, with any investment, there is risk involved.

As our pple like to say, tiny drops of water - na im dey fill bucket

Oooooooooopppppppppppssssss, its for people in the US alone. i cant thread there.

Is sharebuilder only for people in the US? I need an online method of investing or trading money. Any ideas?

Yeah,

Probably so, for tax purposes. Sorry, I forgot you, as sirwebs location signature says, are "on the wrong side of the atlantic" LOL

Regardless, others have chimed in with some good advice. Heed it

Bibi, u r soo funny, my dear, considering how to invest your 15,000 naira, think probably, maybe if u r in skool, buy sumthing that people would like and den sell it more. for example, my b/f goes to skool in da east and lives in Lag. so he bought some nice shirts for his own use and when he got 2 skool, all da guyz liked it and wanted to buy his own shirts 4rom him instead as an nnewi man (japan of africa) and da nnewi sense conbined, he went back to lag. with 40,000 naira and bought the shirts to sell in skool. good luck

what is happening in this house, everybody is looking at #15000 as a small amount to invest, to me no amount is little. even a penny worths a lot. To make money, you must respect money, follow the rule of money. #15000 is good enough to start up. you can invest in stocks. look for a good stockbroker and start from there. if the stockbroker is good, you will see the different between investing and just living the money ideal. if you handle this #15000 well, then you can handle #500,000. you must count one before you can count two.

@ Bibi
_{Laugh my f*cking ass off}

@my2cents, You might reside in the USA, but just curious are you American or do you have a social security number?

hahhaa@kayzeee, abeg don't amuse me now ohhhh, yes ohhh 2 cents make we hear, lol

hahahaha, 15 k too big , mi i get 2 k i beg make una tell mi wetin i fit use 2k do?

well, i guess my 2 contributions were deleted by the admin, as regards wat u can do with N15,000, i guess they(Admin) thought i was promoting MLM program . i am not asking anyone to pay me i am only saying wat i did when i was in a similar situation.Gold trading is a goos business u can start.take care.

@mrtee

How does that work? Please share no knowledge is lost.

worldz,

i world consider petty trading or stock as suggested above.

Don't send it to this guy, whatever you do! Imoh Udoh the busted scammer

good boy

Bibi, you can turn your fortune around with even less than that.I tried mine with only 2,900 as a parttime business and today, i thinking of leaving my job to face the business squarely.
Let me introduce you to KASLY-TASLY health company.Just give a trial and you will write your name in the millionaires bracket.
If you are interested, contact me for details and where to go to in lagos.

You can start a street corner telephone stand business with that. All you need is a table, chair, an umbrella, and a secondhand, but rugged mobile telephone. Soon you'll be able to add more phones, move into a kiosk, and eventually a shop.

start a small biz

Hi,

to my disappointment it seems that the individuals who posted their comments as regards what to do with N 15,000 are not only ignorant as to what can be done with N 15,000; but also sarcastic. What do i mean?

1. if you had bought 2000 units of Eternal Oil at about N2 two months ago now that the stock is scarce you will be able to sell it for about N5. Making double the amount in profit. Why? the currentmarket price is over N3 now and whenever stocks are scarce you have the opportunity of determining the price you want to sell your stock- hence, you dictate the price.

2. from the balance of N 11,000 if you had gone for vono products 1 month ago and bought 7000 units , at N0.99 ( amounting to N6,930) and waited till now when the price is about N 1.29 and sold the units you would have sold at N9,030. if my math is OK you'll have also made a PROFIT.

3. guess what? there is still some change left. YIPPEE! from about N4,000 left you could relax and buy about 1000 units of either Wema Bank shares or Royal Exchange Assurance Nigeria Plc shares or Cornerstone Insurance shares.

N.B.

Number 3's point is that, if Americans believe in investing in low priced stocks ( or penny stocks ) why should Nigerians not believe in their own "kobo" stocks. Remember, 1st bank, Nestle, and Total started as low priced stocks many, many years ago.

Lest i forget, the little change left would be enough to pay the NSE charges when you are buying.

adieus

P.S.

Consider this: within the 3 months your N 15,000 has net close to N 25, 000. Remember, investing in the stock market pays. Only invest wisely and don't be misled

N15,000 ? You might want to save a little bit more.