emperoracro:
Hello for those of you out there looking at storing palm oil and selling when its scarce, contact me on +2348136909187, i will assist you which ever way i can.
And i also need partners who are interested in been active in the business, please feel free to contact me also.
PS: I also deal with plantains.

taiwoliu:
whr u located?

emperoracro:
Hello for those of you out there looking at storing palm oil and selling when its scarce, contact me on +2348136909187, i will assist you which ever way i can.
And i also need partners who are interested in been active in the business, please feel free to contact me also.
PS: I also deal with plantains.

taiwoliu:
whr u located?

ernie4life:
food for thought

kennyzboy:
Thanks @Princeuk21, I now know a bit better.

ernie4life:
Personal financial planning process
The key component of personal finance is financial planning, which is a dynamic process that requires regular monitoring and revaluation. In general, it involves five steps:
1.Assessment: 
A person's financial situation is assessed by compiling simplified versions of financial statements including balance sheets and income statements. A personal balance sheet lists the values of personal assets(e.g., car, house, clothes, stocks, bank account), along with personal liabilities(e.g., credit card debt, bank loan, mortgage). A personal income statement lists personalincomeandexpenses.

2.Goal setting: 
Having multiple goals is common, including a mix of short-term and long-term goals. For example, a long-term goal would be to "retire at age 65 with a personal net worth of 10,000,000 naira," while a short-term goal would be to "save up for a new car in the next month." Setting financial goals helps to direct financial planning. Goal setting is done with an objective to meet certain financial requirements.

3.Creating a plan: 
The financial plan details how to accomplish the goals. It could include,for example, reducing unnecessary expenses, increasing the employment income, or investing.

4.Execution:
 Execution of a financial plan often requires discipline and perseverance. Many people obtain assistance from professionals such as accountants,financial planners,investment advisers, and lawyers.

5.Monitoring and reassessment: 
As time passes, the financial plan must be monitored for possible adjustments or reassessments.Typical goals most adults and young adults have are paying off credit card and/or student loan debt, investing for retirement, investing for college costs for children, paying medical expenses, and planning for passing on their property to their heirs (which is known as estateplanning)

For a more detailed components of financial planning look at the following image below.

FruitfulSparkles:
wow. nice following please dont stop

E360dg:
Great exposition. Keenly following and May God reward your great effort abundantly.
Ride on dear..

ernie4life:
MONEY PROBLEMS 

Money problems are some of the factors which has a silent way of sapping off your money without you knowing, it's like cancer you look ok on the out side but on the inside you are a  financial going down yet you don't know.
 Basically there are 7 major money problems which I will call money monsters

I will list them before I discuss each


1. Inflation monster

2. Emergency monster

3. The "thing" monster

4. The image building monster

5. The keeping up monster

6. The save save monster

7. The easy credit monster



INFLATION MONSTER 
This is one monster that you and I can't do anything about, the most we could you is to hedge against it. Inflation monster reduces the value of your money over time, inflation rate in Nigeria as at March 2015 was 8.5% this means the money you kept in your savings/ bank account without spending it will depreciate 8.5% in value per annum. There is nothing you can do to stop this depreciation but you could hedge against it by either fixing your money at a good rate or buying treasury bills which the interest rate is usually above the inflation rate.

EMERGENCY MONSTER 
Emergency monster are those unplanned expenses we make. Over the east our eastern brothers have this slang " befitting burial" LOL. Once there mother or father dies the will start liquidating there investment to give the dead a befitting burial, some even go as far as borrowing to meet up with burial expenses, after the burial what happens? " sipping garri with groundnut". What about those our extended family members who will always come with one request or the other, some will even give you a deadline, that your sibling that will always squander his or her money and come back to you crying for a second chance when in reality this is the fifth time. Some will incur expenses that they can't bear and start calling you to come to there rescue. Let's get practical, am not against giving, in fact I don't joke with my tithe and offering neither am I discouraging you from giving but let's be rational if the table was turned around and you where the one making the request how many of them will be kind enough to bail you out? Why should you go as far as borrowing to give a dead person a befitting burial why not give that money to the person while he or she is alive to enjoy. Give to the extent your budget can carry make exceptions when it's a matter of life and death, no matter how much you give out people will still call you a stingy person. One of the ways to defeat the emergency monster is to make special provisions in budget for unforeseen occurrence. I will discuss more on some of the ways to defeat emergency monster when I get to " budgeting "




To be continued. Comments are always appreciated 

princeuk21:


1) FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria issued under the authority of DMO and listed on the Nigerian Stock Exchange. The FGN has an obligation to pay the bondholder the principal and agreed interest as they fall due.

2) FGN bonds are debt instruments issued by the Federal Government of Nigeria for an agreed period of time. The investor lends an amount of money to the government and earns interest on the investment until the maturity of the bond when the principal will be returned.

3) I don't think they roll over the interest with the principal and if we are to calculate it then it should be (1,500,000 for the first year and if we multiply that figure by 5 years it should be 7,500.000).

4) Interest received on FGN bonds is not subject to tax so it is tax free.


Always here to help.
Princeuk21.

ernie4life:
Am trying to upload some nice books on personal finance pdf but I can't, please any idea on how to do this will be appreciated

ernie4life:
TOP 10 TIPS FOR MANAGING YOUR FINANCES

1. Track your monthly spending.
Rob McCord, State Treasurer www.patreasury.gov Many people do not know how much they spend each month on food, clothing, housing, or entertainment. Whether you are paying with cash, a debit card or credit card, total your expenditures at the end the month to gain a better picture of how you’re spending your income.

2. Develop a household budget you can follow. Using the data you’ve compiled by tracking your monthly expenses, develop a realistic budget so that it’s easier live with. Track how well you follow it each month – that means continuing to track your monthly expenses.

3. Be sure to budget for savings. Your savings are a Rainy Day Fund, which is important when unforeseen expenses or emergencies arise. Be sure to budget part of your monthly paycheck for deposit into a savings account – ideally at least 10% of each check. If you find or earn extra money – put that away in a savings account, too!

4. Pay your monthly bills on time and avoid late charges. Take inventory of your regular monthly bills and make reminders for yourself on when each bill is due. That way you can avoid costly late fees, which can also damage your credit score. The best approach is to pay bills as soon as they arrive.

5. Review your credit report.
The details of your credit report can have an enormous impact on your financial future. Obtain a free report once a year at www.annualcreditreport.com, and check it for accuracy. Be sure to dispute any errors.

6. Obtain your credit score.
Your three-digit credit score tells lenders and businesses how well you manage your credit and your finances. Scores range between 500 and 850. The higher the number, the better the rating and the better chance you have of obtaining credit at a better rate. You can purchase your credit score through any of the nationwide credit reporting agencies after receiving your free annual credit report at www.annualcreditreport.com.

7. Eliminate credit card debt. Credit cards can make it easy to pile on debt. If your debt adds up faster than you can pay it off, you’re likely living beyond your means. Stop using the credit cards and pay off existing balances – the sooner you do, the less you’ll pay in interest. Remember: not all debt is bad; taking on loans for higher education or to buy a home is really an investment in your future.

8. Take advantage of free money.
If your employer offers a contribution match for retirement savings or heath savings accounts, be sure that you’re contributing enough to obtain the maximum match amount. Otherwise, you’re missing an opportunity for free money. Maximizing your contributions can lower your taxable income.

9. Assess your insurance policies.
Insurance is an important tool for protecting against financial hardships, and the premiums you pay can be one of your top household expenses. Talk with your provider to be sure you have the appropriate level of protection – that way, you’re not paying too much for coverage.

10. Use legitimate financial institutions. Millions of people do not rely on traditional banks or financial institutions to manage their money. Open a checking and/or savings account at an FDICinsured bank, savings and loan, or credit union. Be sure to research whether there are any fees for their services before choosing an institution


NOTE: copied from a website I saw online, some of the things there may not be applicable in Nigeria but some points are very important to note.

princeuk21:


1) FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria issued under the authority of DMO and listed on the Nigerian Stock Exchange. The FGN has an obligation to pay the bondholder the principal and agreed interest as they fall due.

2) FGN bonds are debt instruments issued by the Federal Government of Nigeria for an agreed period of time. The investor lends an amount of money to the government and earns interest on the investment until the maturity of the bond when the principal will be returned.

3) I don't think they roll over the interest with the principal and if we are to calculate it then it should be (1,500,000 for the first year and if we multiply that figure by 5 years it should be 7,500.000).

4) Interest received on FGN bonds is not subject to tax so it is tax free.


Always here to help.
Princeuk21.

jpphilips:



Hi have you confirmed yet if interests on bonds are not rolled over?