₦airaland Forum

Helpfromabove1:
I feel the best way to save is just to just buy dollars either physically or in ur Dom acct . With that u can't easily spend it and it increase in value

obembet:
Good morning Nairalanders,

I work in a very reputable company and my salary is good at my age, I spent money alot on unnecessary things. A friend of mine always advice me to save because things might not be keep rossy like this in future which I don't pray for . So I think it's best for me to have a reserve because of raining days.

I always wish to have discipline account Which I will find it difficult to touch no matter the challenges, but all my calculations is not working, am not lucky when it come to all this akawo or Ajo ( daily contribution or cooperative savings), most of them always get issues when it come to my turn to collect. .

I don't know if it's village people or luck. This has make me lose money in all this Ponzi scheme, MBA etc.

There some insurance agent that do come to my office and introduce thier savings scheme which I love thier benefits ( Tax rebate and life cover. I will not die now in Jesus name) but what people say about getting money when it come to maturity do scared me. A friend of mine lose over 6M in cash craft ( they are not insurance ).

I have several bank account, I know savings in bank is good but I can always terminate my contract whenever I need money they because they don't have charges.

So all this has been given me serious issue and I want to start saving this year.

Can I pick savings plan with insurance or I should just go to the bank?

ibechris:
See,don't go and lose your money just because they give u 20%. Even if Branch decides to give me 30%, I will not give out my money and I will not advice you either.

My reason is because,I always put my money where I have control over and hence my decision to always insist on preservation of capital which is the primary fulcrum of any investment.


Continuing, I am not against your kind of investment because risk appetite differs and I will not base my risk measurements on the current inflation trends thereby losing my capital. Yes,we are all experiencing one form of inflation to another,but won't just close our eyes for the want of more over standard.

Dig more and learn about investment risks.

omotola90:
best advice here...branch international is the best out there...all these United capital bond,fbn quest sfs fund offers less than 11%....I have been using branch and they are the best out there....

showafrica:
Buy USDT and have peace of mind

rocknation62:
Lols

Abeg give me game if you get,na God I take beg you

ibechris:
Instead of insurance put your money where your mouth is e.g save it in mutual account.

There and there,u will have peace of mind.
Their rate is currently at 8.33.

U can try ARM invest. Is a subsidiary of ARM pension.

Below is my account with them as at today.

MartinsD12:
8.3 per annum is too poor when branch is given 20% per annum , inflation in Nigeria is presently 15 to 16% any investment giving you below inflation rate is a devaluation of your money

Kfed4ril:
Per year?

Sewasaunt:
I use Axa mansard for their mutual funds and it's been a good ride so far, the annual rate fluctuates and is currently around 8% but;

1. I have peace of mind that my savings is in a good place.

2. I get regular reports of how I am doing as well as news of the global financial market.

3. It is very easy to set up and once you transfer money to it before 2pm, it reflects immediately and you will be notified immediately. I downloaded piggyvest and found the app quite hard to use, I deleted it last last.

4. You can liquidate whenever you need money, this may not be too good if you find it hard to save and you are trying to save more but for someone like me, I hardly consider the 'liquidate' option.

Branch and Carbon are also good options but it's best to really understand the workings of any app before you go into it and not just hearsay.

Do your research, compare options on this thread and be sure you are fully convinced before setting any up.

asiwajufela:
i work in a financial institution and i have lil idea to share..

Savings in Insurance company comes with life insurance but very lil interest

Money Market Funds is very cool too, no insurance for you but interest is very good.my company offers 8.2%


so any of these 2 is far better than Bank savings anyways

goodnewscliff:
I know how/where (micro finance co-operative institution) u can invest and get up to 30% per anum.
But we all get trust issues.
My two cents tho

Hassanmaye:
Is Dollar equivalent to some crypto in terms of value?

nickvanilla:
You can do both. It's good to diversify risk in the course of Investing. Let's say you have 1.5 million. You can put 750k in Piggyvest and the other 750k in investment funds such as ARM Money Market funds. Piggyvest gives about 10% interest while ARM gives 8% or thereabout. So in a year you can earn around 130k on that money. The return is not much but it's better than putting everything in a Nigerian Bank.

Piggyvest has been operating since 2016 and they haven't given anyone heartaches. ARM is a reputable investment company in Nigeria. As you financial knowledge grows you can put some of your funds in the Nigerian Stock Market. Investment is good but one must do due dilligence before going into anyone. Best of luck!

Effulgent:
Save in Dollars jeje

Get a Crypto account, or if you don't want something entirely online

get a physical wallet....

make your money no loose value

elonize:
pl wat is physical wallet

obembet:
Good morning Nairalanders,

I work in a very reputable company and my salary is good at my age, I spent money alot on unnecessary things. A friend of mine always advice me to save because things might not be keep rossy like this in future which I don't pray for . So I think it's best for me to have a reserve because of raining days.

I always wish to have discipline account Which I will find it difficult to touch no matter the challenges, but all my calculations is not working, am not lucky when it come to all this akawo or Ajo ( daily contribution or cooperative savings), most of them always get issues when it come to my turn to collect. .

I don't know if it's village people or luck. This has make me lose money in all this Ponzi scheme, MBA etc.

There some insurance agent that do come to my office and introduce thier savings scheme which I love thier benefits ( Tax rebate and life cover. I will not die now in Jesus name) but what people say about getting money when it come to maturity do scared me. A friend of mine lose over 6M in cash craft ( they are not insurance ).

I have several bank account, I know savings in bank is good but I can always terminate my contract whenever I need money they because they don't have charges.

So all this has been given me serious issue and I want to start saving this year.

Can I pick savings plan with insurance or I should just go to the bank?

mosefin19:
He can simply withdraw that any fucking time lol... he said where she can save that she won’t be able to withdraw it anyhow... I think PiggyVest is the best for what she’s looking for

SoapQueen:
I'll like to know more about this. Please, can you point me in the right direction? Perhaps a series of articles I can peruse.

Thanks.