So I plan on saving 600k by may 2024 after my NYSC, my savings started July 2023 wen I went to orientation camp
But due to inflation and some bad money decisions, I couldn't save that much, I was only able to save around N270k currently, I'm not very proud of this though.
The truth is, I'll be leaving service in the next two months and 300k is not even enough to do what I initially intend to do.
Around December last year, I got another business plan when I noticed I couldn't raise the 600k anymore, but right now, that business plan is also not feasible anymore.
I'll finish my service next two month, I want to ask if it's alright to start investing that 270k or should I wait cos the naira looks promising and my 300k could get a better value.
Please I need advice from economists.
Below is pic of my savings
Mynd44 nlfpmod fergie001

I need economists abeg

Hehehe

You saved 600k out of your alawee.

You deserve to be appointed as a minister oo

Igb0sCriminals:
Hehehe

You saved 600k out of your alawee.

You deserve to be appointed as a minister oo

it's not from my allawee alone o, I have already mapped out how I will save that money and I work rigorously towards achieving it, that's why I have 3 bank accounts lolz, here is my allawee account, na only 33k deh inside.
Mynd44 nlfpmod fergie001, pls move my topic to front page

From all indications, the 227k you save is not gotten solely from your allowee, that means you have other business that you run that even pay more than your NYSC allowance, my Advice is simple, u see that your side hustle u use in saving those money, invest that money back and you will see the Results

JayDuke:
I need economists abeg

Please wait a little more beyond May you proposed to start the business. Again, suspend purchase of luxury goods or whatever goods you don't need at instance of purchase.

Naira will rally brilliantly in months and buying goods this time will definitely reduce or erode your purchasing power.

Your N600k today may likely command value at par with N1.5M in few months.

routed:


Please wait a little more beyond May you proposed to start the business. Again, suspend purchase of luxury goods or whatever goods you don't need at instance of purchase.

Naira will rally brilliantly in months and buying goods this time will definitely reduce or erode your purchasing power.

Your N600k today may likely command value at par with N1.5M.

omo, I am no more serving after 2months, allawee will not come again, there is no job guarantee after NYSC and I might touch like 50k from this money, if I am frugal. Moreover i don't have 600k, it's not possible for now, I only have 270k

eddynaira125:
From all indications, the 227k you save is not gotten solely from your allowee, that means you have other business that you run that even pay more than your NYSC allowance, my Advice is simple, u see that your side hustle u use in saving those money, invest that money back and you will see the Results

it's from allawee from my PPA and also extra moral lessons that I do.
I was sent to a village with little economic value, so making good money there is almost impossible.
If I finish, the school allawee will not come again and I'll rent a room
I think I'll just wait a little longer and hope the money gains more value, I already have like 3businesses in mind I am just scared of losing the money. Make I hone my patience skill and wait till December sha lolz

JayDuke:
omo, I am no more serving after 2months, allawee will not come again, there is no job guarantee after NYSC and I might touch like 50k from this money, if I am frugal, moreover i don't have 600k, it's not possible for now, I only have 270k

Investing in a new business with N600k at this time will be risky. Price adjustment that we are waiting to begin a reset may wipe out your investment, unless you're investing in personal development.

Infact, for Naira to gain N20 over night, today, with little or no trading activities is a sign Naira has lot of steam in it.

routed:


Investing in a new business with N600k at this time will be risky. Price adjustment that we are waiting to begin a reset may wipe out your investment, unless you're investing in personal development.

I have thought about this too. na to wait small abeg, waiting will not kill me.
Thanks for ur input

JayDuke:
I have thought about this too. na to wait small abeg, waiting will not kill me.
Thanks for ur input

You're welcome, my brother.

JayDuke:
it's from allawee from my PPA and also extra moral lessons that I do.
I was sent to a village with little economic value, so making good money there is almost impossible.
If I finish, the school allawee will not come again and I'll rent a room
I think I'll just wait a little longer and hope the money gains more value, I already have like 3businesses in mind I am just scared of losing the money. Make I hone my patience skill and wait till December sha lolz

Invest on extra morals class within the locality and any town or urban centre close to your PPA, just a matter of time you will have your own private school, because u got some skill there, you can still diversify to other area as time comes


Don’t underrate that skill

Firstly, is it necessary for you to post pictures of your saving to prove validation...

Just asking for a friend I'm joking oo


I'll say you should finish your NYSC first then, I'm sure you will know what to do when you're at home...

Dem no dey tell person, the person brain go just start to dey function

Please I sell fabulous Ankara and Ankara Adire