₦airaland Forum

It's just a little progress in life but I am happy about it, I actually update it on politics section cos I want input.

I actually created this account so I could come back years later and look at where I started and be grateful, my reason for creating this account was cos of what I read on travel section from a moniker named mackynaija or so, he created a thread to monitor his jakpa progress.

So on my previous thread I was asking NLders if it was good to invest my savings or I should wait? Well they all advised me though and I had to take their advice and mine and come to a conclusion.

I decided to buy a motorcycle and drive after NYSC, the bike I bought actually cost more than I budgeted for and somehow it took my entire savings and also I had to sell few things to cover the cost, but I wasn't disturbed cos I could recover the money.
I later found out that I'll fix plate number and also pay for union on the route I plan to drive, this put the entire cost to around 350k. Na wa o.
I have decided to sell my phone and also use 70% of my next allawee to cover the cost, I told the seller I'll complete it by month end and take the bike.
I'll update when I finally get the bike, that is if I haven't sold the phone yet, cos the person that plans to buy the phone is a corp member too and is waiting for the monthly allowance before she could pay, but if I have sold the phone, I'll update when I get a new phone. I just pray she doesn't change her mind.
I also created a Twitter account to update my progress but since I wish to remain anonymous for now, I don't want to let people know about the account.
I'll be passing out by June

My previous thread
https://www.nairaland.com/8059680/should-invest-should-wait-little

Thanks for giving us hope Mr President

Forkthiefnubu:
There are scores of such pictures around , even the Buhari’s kids , the dss chairman , this miscarriage of justice on bobrisky is wrong very very wrong , he done no one any harm

the local currency should not be abused and if you do, you may end in jail.
What we should be asking is if the penalty is too much or not and what did the law say about it.
You can't defend a crime by saying others are doing the crime so u are not guilty.

You shouldn't abuse the naira, give it some respect.

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

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

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

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

I need economists abeg

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 plan to start my first business with a capital of 400k, I have N200k.
Hop fully I'll get everything if I am not wasteful

CrazyGranddad:
Forex this. Sack that. Sign this.

Simple question.

As a Nigerian, has your life been easier in the last 3 weeks?

is it supposed to be a magic?

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