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Nairaland Forum / Nairaland / General / Investment / How To Develop A Savings Culture (15838 Views)
10 Ways To Cultivate A Savings Culture / How About A Savings Account With 10% Annual ROI? / Embrace Savings Culture Today (2) (3) (4)
Re: How To Develop A Savings Culture by LifeIsGuhd(f): 8:52am On May 19, 2017 |
Griffon: Okay, what about saving just to have something to fall back on probably for emergency? I wanna know so I do the right thing. |
Re: How To Develop A Savings Culture by pannyman(m): 8:53am On May 19, 2017 |
mamatayour: I concur! 1 Like |
Re: How To Develop A Savings Culture by lonelydora: 8:55am On May 19, 2017 |
LifeIsGuhd: Not my darling wife, dear. |
Re: How To Develop A Savings Culture by Nobody: 8:57am On May 19, 2017 |
Thanks for the tips...appreciated much. |
Re: How To Develop A Savings Culture by LifeIsGuhd(f): 9:12am On May 19, 2017 |
lonelydora: And not my darling sibling |
Re: How To Develop A Savings Culture by ooshinibos: 9:29am On May 19, 2017 |
Another good way to save is to convert your money to Gold i.e ..save in Gold to protect against inflation |
Re: How To Develop A Savings Culture by Griffon: 9:48am On May 19, 2017 |
LifeIsGuhd: In this case, I'll advice you to create two savings columns or accounts. Account/Column Savings A: This savings account or column should be strictly for investments. And it should be at least 80% of the cash you've set out for savings. No expenditures must be done from what you have in this box. Account/Column Savings B: This savings account or column should be laid down for all your expenditures or fall back when the chips are down. 50% of the profits made off from your investments should be directed here. This is you balancing the whole process. Every money that goes out of your pocket should be buried in an asset not a liability. When that assets returns double of the cash you invested, you can then take a part from there to buy into liabilities. That is as simple as having money work for you. 1 Like |
Re: How To Develop A Savings Culture by LifeIsGuhd(f): 9:58am On May 19, 2017 |
Griffon: Thank you for taking out time to explain this! Deciding on what to invest in is my problem rn. |
Re: How To Develop A Savings Culture by Griffon: 10:13am On May 19, 2017 |
LifeIsGuhd: There are many investment plans out there, it all boils down to which you have got the drive for. Let's talk more though off-line. Drop me a mail at Iammcsinclair@gmail.com |
Re: How To Develop A Savings Culture by DexterousOne(m): 10:27am On May 19, 2017 |
seguntijan: Saving is not a bad idea at all.. Having some savings by the side is what EVERY big man does/hsve what makes saving bad is when it is done to the extreme, and done for the wrong reason 1 Like 1 Share |
Re: How To Develop A Savings Culture by Lalaska(m): 12:25pm On May 19, 2017 |
This is assuming everyone has time and heart to go into business. However, there are several high interest yielding investments. Leaving your funds in a savings account is the least you can do with your money. You can invest money in Treasury Bills, Bonds, Mutual Funds etc for very good interest rates. Essentially, your money works for you while you continue your day-to-day work. But if you have a good business idea and are willing to take the risk, why not? That's the best form of investment. seguntijan: 2 Likes |
Re: How To Develop A Savings Culture by Lalaska(m): 12:39pm On May 19, 2017 |
Good one from the OP. Please not that the OP did not say you should leave your money in a savings account. There is a difference between developing a savings culture and leaving your money in savings account. What he is saying is DO NOT SPEND ALL YOU EARN. Keep some aside and invest. 1 Like |
Re: How To Develop A Savings Culture by oluwashedy: 1:12pm On May 19, 2017 |
I don't think anyone taught me how to save.... I just grew up with it..... Saving is my lifestyle for me cuz I started as a lil boy and now I have enough to start up my own business when I graduate |
Re: How To Develop A Savings Culture by magnificientzaz(f): 3:49pm On May 19, 2017 |
I recently discovered N0.2 and its been awesome!!! |
Re: How To Develop A Savings Culture by obembet(f): 10:57am On Mar 09, 2018 |
Great |
Re: How To Develop A Savings Culture by structuredan(m): 5:21pm On Mar 09, 2018 |
Save and invest i partner with two companies the first one is a Multi Concept company u earn 0.72 - 1% daily Roi. The second company is an entrepreneurial company that partners with Amazon the biggest online store u earn 20% Roi every two weeks for 10months both companies have physical address u can visit to confirm call/whatsapp 08132111362 for details |
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