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How To Play Safe Financially In An Economy Like Nigeria - Investment - Nairaland

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How To Play Safe Financially In An Economy Like Nigeria by Ohelay(m): 3:37pm On Jun 13, 2022
The inflation rate of Nigeria economy is about 16.82% according to Nairametrics dot com.

This is a big red flag for any proactive Nigeria citizen.

Let me share with you some viable tips on how not to feel the heat of this moribund economy.

This is one of secrets that keeps the rich wealthy.

In this present economy.

- Thy shall not keep money in the bank beyond 60 days!

Instead, send it an errand. Use it to buy predictable assets that guarantee great returns overtime.

Because if you leave 1million in the bank for 365 days, it would have depreciated in value.

A car you can buy with 1 million in 2022 would have possibly increased in price to 2 million in 2023.

That means your 1 million in the bank for 365 days would not change in digits but depreciate in value.

That also means if you keep 1 million in the bank in 2022 by 2023, the monetary value of what you would possibly have in your bank account is 500k.

A double digit inflated economy is financially deadly.

So, how can you protect your money from this financial hammer?

1. Do not keep money in the bank beyond 60 days. I SAID IT AGAIN!

2. No matter how small the money you have in the bank right now, move it out and buy any predictable assets that guarantee juicy returns.

3. Also cultivate the habit of earning in dollar.

You might want to expand your business beyond borders. Global marketplace is a goldmine for Nigerian citizens.

4. You must also have a multiple source of income.

A drop of multiple streams of water makes an ocean.

Don't be caught up with one source of income. It's dangerous!

5. Borrow more to buy assets. Lend less to prevent financial tsunami!

6. Also thrive to become a paramount expert in raising money. Become a money magnet.

Make more, raise more, invest more. Very important!

Because your financial surviver in this economy depends on it.

Be wise!

This is a business world.

Nobody really gat your back financially.

Even if they pretend to be, it's just a matter of time. They would back out.

Be wise!

It's your primary responsibility to protect yourself financially.

My name is Olamilekan Adeshina, I help people like you protect your money from financial inflation of any economy.

Stay save, for you to stay safe.

Be financially safe.

I wish you the best of what you wish yourself.

Have a productive day ahead.

Cheers.

Re: How To Play Safe Financially In An Economy Like Nigeria by kingcolearchive: 5:26pm On Jun 13, 2022
One of the ways to play safe financially right now is to set aside some figures to save monthly. Savings will also keep you safe especially if you are saving in a place where you get interest on your money. There are a lot of platforms out there you can try but I suggest you use Fairsave wallet by fair money because they offer one of the best interest rates out there right now.
Re: How To Play Safe Financially In An Economy Like Nigeria by ibechris(m): 6:58pm On Jun 13, 2022
Is a good one.

I don't usually keep money in an account for more than 5days.

Money is meant to be utilised to make more money.
Invest it in people's businesses and lots more out there.

After having done this,u will see how far u can go in
making more and with little effort.

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