₦airaland Forum

Originalsly:
I'm with you on your advice about saving .... but as things are... I would suggest converting to a stable foreign currency..... do not save in Naira. Let's say 10 years ago .... a man was saving as you suggested .... and had 6 million in his bank account ... an amount at that time can see him through life. That would've been all gone today. If he had converted it to a stable currency then ... he would still have been living off it today. Each day Naira sits in our saving accounts the less value it has. You have N1.7 million in the bank today .... at N1700 to $1 today .... that's $1000. One year from now ... what do you think will be the exchange rate? ...how much will your N1.7m then worth in USD? How much will your USD worth in Naira? My point .... save.... but not in Naira

Good ideas 💡
How can one save in dollars ad how?
Please boss

Meerahbel:
Investing on the Nigerian Exchange Group (NGX) involves buying and selling of financial securities such as stocks, bonds, and exchange-traded funds (ETFs). Here's a comprehensive guide to help you understand investing on the NGX:

*Types of Investments on NGX:*

1. *Stocks:* Also known as equities, stocks represent ownership in companies listed on the NGX. When you buy stocks, you're essentially buying a portion of the company's assets and profits.
2. *Bonds:* Bonds are debt securities issued by companies or governments to raise capital. When you buy bonds, you're essentially lending money to the issuer, who promises to repay the principal amount with interest.
3. *Exchange-Traded Funds (ETFs):* ETFs are investment funds that track a particular index, sector, or asset class. They're traded on the NGX like stocks and offer diversification benefits.

*Benefits of Investing on NGX:*

1. *Diversification:* Investing on the NGX allows you to diversify your portfolio across various asset classes, sectors, and companies, reducing risk.
2. *Liquidity:* The NGX provides a platform for buying and selling securities, making it easy to convert your investments to cash.
3. *Potential for long-term growth:* Historically, the NGX has provided attractive returns over the long term, making it a viable option for investors seeking growth.
4. *Regulatory framework:* The NGX is regulated by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE), ensuring a level of transparency and investor protection.

*How to Invest on NGX:*

1. *Open a brokerage account:* Find a licensed brokerage firm and open an account. This will give you access to the NGX platform.
2. *Fund your account:* Deposit money into your brokerage account, which will be used to buy securities.
3. *Choose your investments:* Research and select the securities you want to buy, considering factors like risk tolerance, investment goals, and market trends.
4. *Place an order:* Use your brokerage account to place a buy order for the selected securities.
5. *Monitor and adjust:* Keep track of your investments and adjust your portfolio as needed to ensure it remains aligned with your investment objectives.

*Risks and Considerations:*

1. *Market risk:* NGX investments are subject to market fluctuations, which can result in losses.
2. *Liquidity risk:* Some securities may have low liquidity, making it difficult to sell them quickly or at a fair price.
3. *Default risk:* Bonds and other debt securities carry the risk of issuer default.
4. *Regulatory risk:* Changes in regulations or government policies can impact NGX investments.

*Investment Strategies:*

1. *Dollar-cost averaging:* Invest a fixed amount of money at regular intervals, regardless of market conditions.
2. *Value investing:* Look for undervalued securities with strong fundamentals.
3. *Growth investing:* Focus on companies with high growth potential.
4. *Dividend investing:* Invest in companies with a history of paying consistent dividends.

*Resources:*

1. *NGX website:* Visit the NGX website ((link unavailable)) for market data, news, and educational resources.
2. *Brokerage firms:* Contact licensed brokerage firms for guidance on investing on the NGX.
3. *Financial advisors:* Consult with financial advisors or investment professionals for personalized advice.

Remember, investing on the NGX requires a thorough understanding of the market, risks, and investment strategies. It's essential to educate yourself, set clear investment objectives, and consult with professionals before making investment decisions.

You can use my referral link on my signature to sign up on trove we both get free shares.

Thanks so much,I really appreciate your response

Tohsynetita1:
Many will keep lamenting but have come to realize that many skills, business, that can make like easier for us might not be in a place where you are at moment, it might be in a very far place, And you are to learn it, Now, the teacher will not want to teach you anything for free but will be paid.
Now, that is where the problem is:
Some people can not just use ordinary 500 naira as play online, I mean sending it to someone that want to teach you something.
If you are that type that you always think every one around you asking for money for something you
want to learn are scammers, you might never make it. It might be like curse but it’s not.
Let’s learn to be able to trade with little money that you know even if things doesn’t works as it narrated, you won’t even bother about the money.
I don’t know if am the only person that does that, have taken a lot of crazy risk when it comes to sending money to people that I met online for business, it was last week I sent a goods worth 30k to a man I meant on group and he paid after collecting.
What am I trying to say, their are tons of skills, ideas, training, that you can learn but most of it will be in a place you can’t access with your physical eye or leg, it is mostly online, so you go they try until you get a reliable person.

Let me tell you my past online business transaction
1) Have sent a maize planter that worth 60k to a guy I met on agricultural group on WhatsApp without collecting money first.
2) Have sent watermelon seeds severs times to someone I met on WhatsApp group that he eventually returned it, I don’t know this person.
3) Have given business idea to an agriculture group that made a man in Texas dm me and we are friends today.
4) Have given a watermelon planting skills that made a guy on naira land come to see me in my place.
5) Have bought several things on random person especially something I can’t get in my area and I do pay first, some times I will be scammed, some times I won’t,
6)Have once told a guy that I can be teaching him Yoruba on a Facebook group and he pays like 45k to me weekly, I told him our first month will be free.
7)Have sent 15k to a guy on Facebook ads that said he taught content creation and I wasn’t scammed, although it didn’t work eventually.
Have sent money to different people that are into importation training and exportation, even I still sent 5k to a man two days ago, it’s not that I have money per say but am just the type that do try new things, if not that I do buy those courses, I won’t know that some people are making money secretly in this same Nigeria, their is a place in Lagos you can buy good polo from Asia at 1,500 and you can sell at 10k.
Yes, 10k, even 15k, all this things am telling you is because of those risk like pay 2k for this, pay 3k, pay 5k for these that made me know those stuffs.
9)I met a man some months ago that sell links of those into mini importation, if you see how cheap some goods are, you might not want to work anymore.
10) Have paid a man around 25k to learn survey , this man was met on Facebook ads, if you see how people they make money in that group, Omo you might go crazy, a guy made 600k naira in just a day.
Though have not start mine because have not completed my money to pay the man.
Now, those things I stated above cannot be possible even am always afraid that they are all scammers.
I can show you evidences if everything.
So, don’t hesitate to try new things,
Don’t always think everyone is a scammer.
Trade money online to learn skills but make sure it’s something you won’t be bothered even if it goes wrong.
Ire o

I really love your submission about risks levels and how one seeking to improve his/her finances should grow that appetite too.
Personally I have made some reasonable amount of money doing online survey as the pay is in foreign currency. I paused for a while as it requires serious technicalities and concentration, when I have created this avenue I will resume. Can I mail you?

Meerahbel:
There's was a channel (USM) on telegram I joined some years back while searching for a way out of my situation then, the owner advice us to save in $, I never regretted doing that till date. We started saving in $ when it was N400 to a $.

How boss?
Can I get your contact

JobAndVacancies:
shut up.
How can you save with a salary of 60k below

For people who are upright and do not cut corners in their paid jobs, it may be difficult to save especially when you already have a family and your monthly take home pay is barely enough to take care of your needs.

This is not to say that we should not strive as much as possible to do some savings and investment.

IyaTola:
Their type are "Chop life today tomorrow no sure".

If one wants to have a savings culture start from small monthly. I started 12 years ago and today, my target is to save minimum of 40 times my savings then. Or more than 60 times if possible.

blessedchild234:
I really love your submission about risks levels and how one seeking to improve his/her finances should grow that appetite too.
Personally I have made some reasonable amount of money doing online survey as the pay is in foreign currency. I paused for a while as it requires serious technicalities and concentration, when I have created this avenue I will resume. Can I mail you?

Message me on WhatsApp 0803154250 9

MONEY247:
please can you share

I know about mini importation, survey, their might be others but this what I know.

True

SoaringLife01:
How possible is it to save over 70% of one's salary in this Tinubu regime?
Please give an example using statistical breakdown.

The truth is most people cut corners in their paid jobs and then come out to preach savings and investment to you. If not, how will somebody say he can save 70% of his income in this present day.

Pentagon007:
I am currently doing all that you said. My net salary is around 300k. At the end of every month i try to save upto 200k. I must say its quite difficult but the trick is that i do the saving FIRST, then use whatever that remains for my expenses.
I intend to save a reasonable amount then i learn a trade and go into business.

Sorry to ask. Do you stay in Lagos? Cuz I doubt you can save 200k a month in Lagos. Except you walk to the office.

Tohsynetita1:
Message me on

okay

1Alex:
I am into cyber security. There are so many of them. It depends on your interest

Can you recommend a reputable centre to learn either Data science or cyber security?

intruder15:
Sorry to ask. Do you stay in Lagos? Cuz I doubt you can save 200k a month in Lagos. Except you walk to the office.

No, i am not in Lagos. Though when i lived in Lagos and worked there, i also struggled and saved up some money. That was in 2022.

freeman67:
Do not just save. Invest the money. At least it will grow to cover some percentage of the inflation we are encountering instead of just leaving it it in the Bank. If you worry about investment risks and access to your funds, you can just do mutual funds with Asset Management firms around (most of which are subsidiaries of the bank you know)

Thank you

Femabol01:
I did something like this when my net salary was 200K 10 years ago. I used the savings to buy 32 plots of land for cash crop farming (houses have surrounded the place presently) and 4 plots of land for my proposed house. The properties I bought cheaply then have so much increased in value. I intend to use my savings with the cooperative to plant the Cash crop by April next year. Be careful while investing in business.

That is nice.

Wanted to ask this too.
Pls respond.
Which tech skill can one learn pls

AfahaAbia:
There is no formula in all this you said up there. You can save millions today, a terrible emergency can take it all tomorrow. For me with over 15 years experience working I would advise any young person today not to focus on savings alone but to invest as much as possible from your 20s and beyond. Try to also keep money in your pension account(another way of investing for retirement)even if you have contributions made by your employer already. I personally have over 100million naira(which will still increase as time goes on)in my pension account which I can not access till I'm in my 50s.. All im saying is thàt invest more than save.

Do I meet my bank manager to set up this pension account or how do i go about it. Do you also have any tips on other ways that I can grow this account apart from regularly saving into it

intruder15:
Sorry to ask. Do you stay in Lagos? Cuz I doubt you can save 200k a month in Lagos. Except you walk to the office.

Lagos is very a bad business for this plan. I am very sure he is not

Tohsynetita1:
I know about mini importation, survey, their might be others but this what I know.

Interested in the survey...
And mini importation.....

But that mini importation might require large capital

MONEY247:
Interested in the survey...
And mini importation.....

But that mini importation might require large capital

You can message me on WhatsApp ,
0803154250 9
It doesn’t require much capital now,
You can use like 20k to start.

Ibechris2:
U people think everything is fake.

See,I bought a land in Abuja last year and gave to my wife as a birthday present for 9.5million.
Now the truth is,the land is currently selling for 20million.

I bought a shop during the covid 19 pandemic for 1million. The shop is going for 13million just in 4years.

Another land I bought 3yrs ago at Fo1 here in Abuja,for 4.8million is now going for 16million.

There is nothing like motivational speaker. U use money to make money.

That is what is called capital gains.


What if I had bought ten of these properties last year?

Kaasa!

Congratulations fa

I get land wey I wan sell o

Whatever you save that is not in US Dollars or strong foreign currency is a waste of time.

Naira is completely useless

smasher1:
He spoke about plural, not one. The point is to stick to one good one you intend to marry so the money given to her becomes an investment in your family and not a gift to someone that the relationship would end.

The one I have currently is a big blessing..I am so happy...She assists me..we are both into tech
As a matter of fact, when job comes in she delivers more than I do and we split the funds into half which from her own she will stock up the kitchen...
Very respectful
Obedient
Beautiful
Calm
Wise
A good cook
Very skillful
She also run her YouTube channel...I can't comprehend this angel in human form

Munzy14:
True..

I think he is trying to let you know you have to focus on that good lady and erase others from your life.
For you to achieve big.

That was exactly my point boss

Ibechris2:
My side incomes are.

Peer to peer lending.

Capital gains from properties.

Interest profit from mutual funds & compounding.

Rental income from shop.

I purchase property for people for profit purposes.

With all of the above,I've made[for reason best known to me]naira this year on this.

Peer-to-peer lending is extremely risky because it depends on your borrowers acting in good faith towards you. Even if you are getting matched on a website, you're still at risk of losing all your investment.

This, to me, would eventually lead to a zero-sum game where your profits and investment would get eaten by bad debtors. In fact, I'd say peer-to-peer lending is worse than a zero-sum because you're almost guaranteed to start from scratch at some point. Man is not as nice and honest as he claims to be no matter what he portrays himself to be.

I would rather try my luck on Sporty. Lol.

I think my comment on peer-to-peer lending is also applicable to mutual funds you talked about, or do I misunderstand the difference between them?


If you have a shop that you rent out for profit, then you are good. Most of us are not privileged to own properties, much less rent them out. This is a nice side income. I think this also applies to capital gains from properties you talked about.

In my opinion, this is the only viable side income you currently have.

IyaTola:
So sorry about your loss.

Thanks so much.

JobAndVacancies:
your lord and master Tinubu is a criminal and a vagabond

Thank you. Tell the mumu.

IyaTola:
With 10k followers on your Facebook page, you have a great foundation to leverage for various opportunities. Considering your previous experience with the online restaurant, here are some ideas to repurpose your page:

1. Food Blogging: Share recipes, cooking tips, and food-related content. You can monetize your page through affiliate marketing, sponsored posts, or Google AdSense.
2. Influencer Marketing: Partner with food, beverage, or kitchen appliance brands to promote their products or services. You can also collaborate with other influencers or bloggers in the food niche.
3. Digital Products: Create and sell digital products, such as ebooks, cooking guides, or meal planning templates, related to food and cooking.
4. Affiliate Marketing: Promote food delivery or meal kit services, and earn a commission for each sale made through your unique referral link.
5. Content Creation: Focus on creating engaging content, such as videos, photos, or stories, around food, cooking, or lifestyle. You can monetize your page through ads, sponsored content, or brand partnerships.
6. Online Coaching or Consulting: Offer coaching or consulting services to individuals or businesses in the food industry. You can provide guidance on recipe development, menu planning, or food safety.
7. Food Tourism: Share your passion for food and travel by promoting local food tours, cooking classes, or culinary experiences.
8. Product Reviews: Review food-related products, such as kitchen gadgets, cookbooks, or food subscription boxes, and share your honest opinions with your audience.
9. Community Building: Create a community around food, cooking, or lifestyle, and engage with your followers through live sessions, Q&A, or contests.
10. Personal Branding: Leverage your page to build your personal brand as a food expert, chef, or entrepreneur. Share your story, experiences, and expertise to attract opportunities and collaborations.

Before making a decision, consider the following:

1. Your passions and interests: What aspects of food, cooking, or lifestyle excite you the most?
2. Your target audience: What type of content do your followers engage with the most?
3. Monetization opportunities: Which ideas have the potential to generate revenue?
4. Time commitment: How much time can you dedicate to creating and managing content on your page?

Take your time to reflect on these questions, and explore the ideas that resonate with you the most. Good luck!Dear this is not even a challenge at all because food business is a business that is a necessity during war, famine, under the rain & in the sun people would surely eat, anyway, there are many people in that 10k followers who are dying to partner with you.
Here's my suggestions
Make a post looking for exceptional cooks in those locations you have orders and these cooks would undergo a cooking test.

For instance, we have many orders coming from Abuja, PH and Kano, provided they are located close to where these orders would come from.

The cooking test would be what would be given to the customer who ordered the food and whatever assessment they give would be what you would know if you would continue to use her. Plus you can have a YouTube channel.

Babe! Before you know it you have a business with customers care receiving orders via Facebook and WhatsApp.

Thanks darling. This is helpful

Tohsynetita1:
You can message me on WhatsApp ,
0803154250 9
It doesn’t require much capital now,
You can use like 20k to start.

Ok

If you work in a bank. You should have a pension account definitely. It's a mandatory contribution especially for big organisations. If you need to open one, send me an email address, I will take you through the process.

horia:
Do I meet my bank manager to set up this pension account or how do i go about it. Do you also have any tips on other ways that I can grow this account apart from regularly saving into it

ADD PASSIVE INCOME(S) TO YOU SALARY!