₦airaland Forum

Plan to Succeed

If you fail to plan then you plan to fail. You can't achieve your dreams if you don't plan and act to make them a reality.

Planning gives you the ability to see how to bring your dream to life right now.

What are you doing today to bring your future into the present? Ensure that each day brings you a step closer to your ideal future.

Planning is bringing the future into the present so that you can do something about it now.
-Alan Lakein


For safe, high-yield investment options and weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

As the festive season approaches, one of the most experienced challenges with personal finances is excessive spending. To attain financial freedom, you need to find the balance between your earning, spending, savings, and investment routine. A journey towards financial freedom requires being consistent with managing your finances effectively. This article focuses on five basic steps you can take to carefully cut down on excessive spending.

Avoid Impulse Spending
Impulse spending is a spending habit that can leave you poor. It is simply an unplanned purchase that is not in your budget. It can be as minute as re-subscribing your monthly data plan to buying a new gadget. When overspending happens frequently, your finances can suffer but when you consciously stick to your budget, you’ll most likely have more money to save and invest in the long run.

Stick to Your Budget
The essence of having a budget is to spend on the most prioritized needs. When you spend outside of your budget, you are gradually robbing yourself of other necessities. Create a plan for your spending that you can actually stick to so you can take control of your money. To stick to your budget is to simply tell your money where to go at any given time.

Stop Using Your Credit Card
A credit card allows you to buy things you did not prepare the liquid cash for at the moment. Having your credit card with you often can lead to overspending. Credit works well when balances are paid off each month, but it can be disastrous when poorly managed. The best practice for avoiding credit card fees and interest is to not spend money until you save enough to cover the purchase.

Automate Periodic Investments
The best way to build your wealth and avoid excessive spending is with automation. It helps you manage your spending habits by ensuring you're contributing towards your goals first before spending. Learning how to automate savings may even help you achieve your financial goals faster. Visit www.overwood.ng for safe, high-yield investment options tailored to help you reach your goals.

Avoid Money Pits
When you’re trying to become financially stable, you need to look out for money pits. These are the things that look like a good idea at the moment but eventually produce bigger expenses. Money pits can take away from your savings, or even worse, lead to debt. Focus on keeping your money in your own hands. Spend it how you want, save and invest it when you can, and try to lose as little as possible.

Final Thoughts
Learning how to stop spending money is hard, but it is possible. It takes time and dedication to stop overspending and to reform your spending habits. Recognize what prompts you to spend too much and put safeguards to curb it before it hurts your financial well-being.

Being a parent is a rewarding job. Most times rewarding doesn’t mean easy, especially when you throw in a 9-5/a side hustle and Lagos traffic.

It all boils down to better time and energy management if you want to achieve a work-life balance. Here are 4 tips to help you strike the right balance.

1. Get On a Specific Schedule
If you’re super busy between work and your home life, your head will literally be spinning if you don’t work out some type of schedule.

This includes setting up a daily plan, including tasks that need to be handled in order of importance. Use an old-fashioned paper planner or an online calendar to plan out your days and weeks in advance.

2. Carve Out Dedicated Family Time
Just because you can multi-task while your child watches television doesn’t make this quality time together.

Instead, try committing to unplugging for at least one hour a day and doing something fun with your child – whether it’s reading a book, watching a movie, going to the park, or playing a board game.

3. Find a Support System
A support system is important to your mental health.

It’s impossible to split your time into a million pieces, so it’s key to have friends and family that you can lean on for help. Not everyone has this luxury. However, this doesn’t mean you can’t build a solid support system.

4. Consider Outsourcing Some Tasks
If you feel like your work is tearing you away from parenting responsibilities consider outsourcing some tasks to lighten your load.

You can hire someone to help clean, order groceries online, and even send your laundry out. Yes, it may cost you to hire someone or sign up for services, but you’ll also be able to scale up your earnings faster when you have more time and energy.

Final Thoughts
Balance is important when it comes to family and work. You can focus on both family and your work/side hustle, especially if you follow the 4 tips mentioned above. The more you do this, the easier it gets.

Education is a foundation for success. Set the right foundation for your children. Ensure that your kid's educational future is secure with OVERWOOD Child account today. Visit www.overwood.ng to get started.

Yes You Can

You can do anything you put your mind to.

Don't spend your time worrying about how big any challenge is. Instead, start equipping yourself with all the resources you need to overcome that hurdle.

You’re more capable than you think. Do not underestimate yourself.

“If you want to make a permanent change, stop focusing on the size of your problems and start focusing on the size of you!”
-T.Harv Eker

For safe, high-yield investment options and weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

Assets put money in your pocket. The more assets you have making money for you, the richer you get. If you have an investment portfolio or intend to build one, these are 5 asset classes you should consider:

1. CASH
They include liquid funds, saving accounts, online wallets, hard cash, money market instruments and certificates of deposit (CDs). Cash provides a safe haven for funds when markets are rocky or looking overvalued. It offers liquidity and most cash deals offer higher returns(Peer to peer lending). They are an important part of an investment portfolio because their high liquidity makes it easy for you to readily seize opportunities. Unlike stocks and other assets, cash equivalents must have a determined market price that doesn’t fluctuate. The downside of cash and its equivalents is, interest from banks doesn’t keep up with inflation.

2. STOCKS
Stocks are a collection of shares (units of ownership of a company). The company divides its capital into equal parts, which it can then sell as shares. Owning stocks in different companies can help you build your portfolio, protect your money from inflation, and maximize income from your investments if you consider a long-term perspective. The downside just like any investment is it comes with risks. The stock market is volatile and best suited to long-term investing.

3. BONDS
Bonds are a debt instrument or an IOU. They contribute an element of stability to any diversified portfolio. Bonds are a safe and conservative investment that offers relatively low volatility, high liquidity and a measure of legal protection. When you invest in bonds, you lend money to the bond issuer (corporations, local/ federal Governments). You lend them the money for a specified period of time known as the bond term. They in turn pay you interest at a specified interest rate. The downside is a lower rate of return.

4. REAL ESTATE
Real estate is the most common type of tangible assets that people own. It offers passive income and long-term wealth. You can create regular income and cash flow, protect against inflation and build equity for the future with real estate investment opportunities(REIT’s – Real Estate Investment Trusts, rental properties – residential, commercial, industrial, retail e.t.c). The major drawback is it requires a lot of upfront capital and you lose liquidity.

5. COMMODITIES
Commodities offer an inflation hedge unmatched by other asset classes and the prospect of improved risk-adjusted returns. It benefits investors during economic uncertainties. They are riskier forms of investments with opportunities to make huge profits. Another downside of commodities is that they are susceptible to weather and regulatory risks. Commodities can be divided into four sectors;

Agriculture – livestock, wheat, corn
Energy – natural gas, coal, crude oil
Industrial metals – Steel
Precious metals – Gold, Silver


Your portfolio is considered balanced when it includes investments spread across various assets. Diversifying your portfolio is ideal because it helps to reduce risk while maximizing returns. Assets all have their advantages and disadvantages. Consider your risk tolerance and financial goals before opting for any investment option. www.overwood.ng focuses mainly on the safety of your funds and providing you with safe high-yield investment options to help you build long-term wealth.

Becoming a millionaire is about more than a lifestyle. It’s about financial security. Unless you were born into a rich family or you win the lottery, building wealth might seem hard. Ultimately, it depends on the path you choose. A study showed that 45% of millionaires are entrepreneurs, 20% are avid investors, 15% have high paying jobs and 10% of millionaires are virtuosos.

THESE ARE THE FOUR MAIN PATHS TO BECOMING A MULTIMILLIONAIRE:
1. ENTREPRENEURS
Seven out of the 10 richest billionaires in the world, including Jeff Bezos, Bill Gates and Mark Zuckerberg all got rich by starting their own companies. They either found a need and filled it or provided a solution to a problem.

They love what they do for a living, and their passion reflects in their bank accounts. This happens to be the hardest, riskiest and most stressful path. You must be willing to work long hours and able to handle financial stress.

2. INVESTORS
Most people become millionaires – and stay millionaires – because they invest consistently. They put their money where it will grow, usually in income-producing assets like stocks, real estate, bonds and commodities.

You don’t have to be a rocket scientist to start and you don’t have a lot of money to invest right away. Just start with what you have. it is the easiest way to build wealth, but it requires enormous financial discipline and long-term commitment.

3. COMPANY CLIMBERS
This is the second-hardest path to becoming a millionaire. Climbers work for a large company and devote all of their time and energy to climbing the corporate ladder until they land a senior executive position that comes with an extremely high salary.

Many high paid professionals end up with significant wealth over time from either stock compensation or a partnership share of profits. To be a Climber, networking and making lasting connections with powerful people in your industry is essential.

4. VIRTUOSOS
Virtuosos are people who are the best at what they do or possess knowledge that sets them apart from the competition. They invest an enormous amount of money and time continuously studying and learning before seeing any payoff at all.

They’re paid a high premium for their knowledge and expertise. Formal education, such as advanced degrees (PhD, Medical Degrees, Law Degrees, etc.), is usually a requirement.


FINAL THOUGHTS
Money is a tool that you can use in order to live a productive life. Out of these 4 paths, investing is the easiest path to building wealth. The other three involve much more risk and luck. Regardless of the specific financial goals, you decide on, your focus should be to save and invest early and consistently, compound returns will take care of the rest.

You can start your journey as an investor with www.overwood.ng today. Access safe, high-yield investment options that earn you up to 12% per annum compounded daily.

Success Is a Process
Success doesn’t happen overnight. It takes consistent effort and every day of your life is a chance to make positive change.

What you eventually become would be as a result of what you channel your energy and effort to each day.

Take a look at your daily routine and assess if you’re truly preparing for success.

Remember, slow and steady wins the race.

You will never change your life until you change something you do daily. The secret of your success is found in your daily routine.
– Darren Hardy

For weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

Investment scams have been around for quite some time and despite the telltale signs, many still fall prey. Some of the most dangerous investments are the ones that appear promising on the surface.

While nobody can predict with certainty how any investment will perform in the future, there are a few red flags to watch out for.

1. Get 50% ROI in 10 days
The most common of all investment warning signs is the promise of returns that are too good to be true. High promises of returns in short time frames that will make you rich are a sure sign of an investment scam.

It can take less than 10 days to go into overnight debt. Stay on guard and avoid being drawn into these get-rich-quick schemes.

2. There’s a shortage – act now or lose out!
A pushy salesperson is never a good sign. If someone is pressuring you to invest, chances are there’s something going wrong and they’re looking for someone’s money to help them fix it.

This type of sales pitch is used to create a false sense of urgency. If it's a legitimate deal, it’ll be there tomorrow.

3. This investment has guaranteed high returns – no risk!
There’s no such thing. Be suspicious of anyone who guarantees that an investment will perform a certain way. All investments carry some level of risk – which means you may lose some money.

The higher the returns, the higher the risk. know the risk level you are taking and invest only what you are willing and can afford to lose.

4. Great investment opportunity – Mr A can’t be wrong!
Fraudsters have been known to work their way into close communities and befriend members in order to sell them fraudulent investment products. This pitch relies on the trust you place in your friends. The truth is that credibility can be stretched and faked.

Watch out for this sneaky greed factor since fraudsters often pay out profits to early investors who unwittingly convince others to get on the bandwagon.

5. I’ll double your money in a week - just refer two people
Unsolicited investment offers are scams almost 100% of the time. Any offer that comes to you from someone that you don’t already know should be avoided no matter how promising it looks or sounds.

If the investment is so profitable, why do the investment promoters need to recruit YOU out of the blue to refer more people?

6. If you are interested - We’ll add you to the WhatsApp group
Promoters utilizing this tactic are trying to convince you that he or she has access to inside information known only to a select few who are said to be making a lot of money.

There’s no secret formula to investing successfully. Many investment scams involve unlicensed individuals selling unverified insider tips.


Final Thoughts
Long-term investing can be a great way to make money, but it's also risky. Stay on guard and avoid becoming drawn into a scam.

The best investing strategy is a slow-but-steady one. If an investment seems like it's too good to be true, it probably is. Look for the warning signs. Ask questions and research every investment opportunity thoroughly before you invest. Choose a trusted investment partner like www.overwood.ng for safe investment options to help you build long-term wealth.

What are the other popular investment lines we should all watch out for?

As the festive season approaches, one of the most experienced challenges with personal finances is excessive spending. To attain financial freedom, you need to find the balance between your earning, spending, savings, and investment routine. A journey towards financial freedom requires being consistent with managing your finances effectively. This article focuses on five basic steps you can take to carefully cut down on excessive spending.

Avoid Impulse Spending
Impulse spending is a spending habit that can leave you poor. It is simply an unplanned purchase that is not in your budget. It can be as minute as re-subscribing your monthly data plan to buying a new gadget. When overspending happens frequently, your finances can suffer but when you consciously stick to your budget, you’ll most likely have more money to save and invest in the long run.

Stick to Your Budget
The essence of having a budget is to spend on the most prioritized needs. When you spend outside of your budget, you are gradually robbing yourself of other necessities. Create a plan for your spending that you can actually stick to so you can take control of your money. To stick to your budget is to simply tell your money where to go at any given time.

Stop Using Your Credit Card
A credit card allows you to buy things you did not prepare the liquid cash for at the moment. Having your credit card with you often can lead to overspending. Credit works well when balances are paid off each month, but it can be disastrous when poorly managed. The best practice for avoiding credit card fees and interest is to not spend money until you save enough to cover the purchase.

Automate Periodic Investments
The best way to build your wealth and avoid excessive spending is with automation. It helps you manage your spending habits by ensuring you're contributing towards your goals first before spending. Learning how to automate savings may even help you achieve your financial goals faster.

Avoid Money Pits
When you’re trying to become financially stable, you need to look out for money pits. These are the things that look like a good idea at the moment but eventually produce bigger expenses. Money pits can take away from your savings, or even worse, lead to debt. Focus on keeping your money in your own hands. Spend it how you want, save and invest it when you can, and try to lose as little as possible.

Final Thoughts
Learning how to stop spending money is hard, but it is possible. It takes time and dedication to stop overspending and to reform your spending habits. Recognize what prompts you to spend too much and put safeguards to curb it before it hurts your financial well-being.

Knowing how to build your emergency fund can help you navigate through unexpected life events without having to worry about your finances. It’s a vital component of any good financial plan and one way you can improve your finances this year.


WHAT IS AN EMERGENCY FUND?
An emergency fund refers to money set aside to cover expenses that may arise with unplanned events, like sudden medical emergencies, or unemployment. It provides a safety net for your finances. It differs from a sinking fund which is money saved to cover upcoming expenses. Having an emergency fund comes with many benefits to your financial health, that’s why it’s important to know how to have one. It’s usually advisable to build one that can cover 3-6 months of your expenses.

HOW DO I START?

1. ANALYSE YOUR CURRENT EXPENDITURE
The first step is to analyse your income and expenditure. This should tell you how much you spend each month. Multiply the amount by 3, and it will give you your initial savings goal. This amount should cover all your basic living expenses for 3 months (feeding, accommodation, transportation). Depending on your financial situation, you can aim to save up for a 6-month emergency fund.

2. DEVELOP A SAVINGS PLAN
Saving consistently for an emergency fund isn’t as easy as it sounds. Depending on your earning potential, it might take a bit of time to reach your goal. The best way to save up before any unexpected occurrence hits is to devise an effective savings plan based on step one and stick to it. You know your savings target, choose a percentage of your income you can contribute monthly to build your emergency fund.

3. CHOOSE WHERE TO KEEP YOUR EMERGENCY FUND
It is not advisable to keep your emergency fund in the same account as your regular savings. It also shouldn’t be tied up in any long-term fund. We recommend that the emergency fund is kept in a high-yield savings account or a safe, highly liquid investment vehicle like www.overwood.ng for easy accessibility, and to earn interest on your savings.

4. PAY YOURSELF FIRST
The easiest way to save is to make it automatic. Automate the process so your savings are taken care of as soon as you get paid. This should help you grow your fund faster so you can focus on other financial goals. You can also decide to revisit your budget and cut costs or explore new ways to earn more so you can increase your regular contributions.

5. ASSESS AND ADJUST YOUR CONTRIBUTIONS
From time to time, check your emergency funds to review your progress. If there is a positive change in your earning, it should reflect in your savings percentage. Your contributions should be revisited and adjusted when necessary to ensure you are on track to meet your goal.


Start now and save whatever you can. Once you have a fully-funded emergency fund, you can redirect your efforts to reaching other savings goals. Your emergency fund should be for emergencies only. If the need does arise to dip into it, spend it carefully and replenish it as soon as possible.

While everyone’s personal finance journey is different, there are key steps we all need to take at certain stages in life to ensure we have and we can enjoy what we have. Having a well set out plan for each of your goals can help keep you in check and ensure you reach them on time.

Having goals at every stage in life gives you a sense of direction and can help you manage your finances effectively. Those goals largely depend on your finances and lifestyle. You can start working on these milestones and refine them to your personal circumstance to ensure you’re on the path to financial freedom. Bear in mind that everyone is in a different place, and will have different objectives as you read the suggested personal finance goals.

FOR YOUR 20’S
At this stage, your finances might not be in order, but you should learn to master money and earning so the lack of it/ hunt for it doesn’t control you in future. It’s a time for personal exploration so start taking steps that lay a strong foundation for building wealth as you get older.

-Learn to live below your means
-Work towards financial independence
-Start paying off debt
-Build an emergency fund
-Start investing for the long-term
-Read up on personal finance and financial planning
-Set long-term financial goals

FOR YOUR 30’S
Goals at this stage should be a continuation of what you’ve already started. New responsibilities also tend to pop-up in this life phase – You’re probably married and have little children. Your goals should also accommodate these new changes.

-Become an expert in your field
-Build passive income sources
-Start saving for retirement
-Start saving for kids college funds
-Have six months of income saved in your emergency fund
-Fully pay off debt
-Diversify your investment portfolio
-Work on a long term financial plan
-Get life insurance

FOR YOUR 40’S
At this stage, you should have built momentum for a bright financial future. Your financial health becomes priority and every decision should mirror this. In your 40’s, focus on capitalizing on your peak earning years and avoid poor financial decisions.

-Increase retirement savings to at least 15%
-Up your kids' college savings
-Review your financial plan
-Re evaluate your budget
-Aim to have 3x your salary invested
-Stay out of debt
-Create a will

FOR YOUR 50’S
Usually, at this stage, you should start preparing for your retirement lifestyle. Create a flexible plan to help you downsize your life in preparation for retirement, and do what you can to maximize contributions to your retirement savings.

-Up your retirement contributions
-Look into long term care insurance
-Re-evaluate your budget
-Look into part-time employment options
-Revisit your will

If you don't know where you are going, you'll probably end up somewhere else. Whatever financial goals you might have, you can achieve them with OVERWOOD. They offer safe, high-yield investment solutions tailored to suit you and your needs. Invest in the future you desire today with as low as N5,000. Visit www.overwood.ng to get started.

Once you've gotten a hold of managing your finances effectively, it is time to start investing. As a novice investor, you will probably have a lot of questions like, “how do I start investing?" ”where can I invest?" and "how much can I start with?" This article will give you insights into how to start your investment journey.

1. SET A REALISTIC GOAL
When investing, you should have a goal and strategy in mind. You'll need to be aware of the result you are trying to achieve to make the right investment decisions. 

For example, by setting a realistic target of investing at least ₦100,000 per year and to grow your wealth by 15% each year, you have made your investment journey purposeful. Also, breaking down your investment goal into a step-by-step action plan will make it easier and faster to achieve.

2. UNDERSTAND YOUR INVESTMENT OPTIONS
There are multiple investment options available to investors depending on their risk appetite, starting capital, and time horizon. It is important to understand the investment instruments available and their level of risk. The most popular instruments for those just starting include:

1. STOCKS
Stocks are shares of ownership in a company held by a group or an individual. They are also known as equities. Stock investors earn money from capital appreciation, cash dividends, and bonus issues.

2. BONDS
These are loans given to a company or government that essentially pays investors a fixed rate of return for a certain number of years. Bonds are less risky than stocks because you'd know when and how much you will earn.

3. MUTUAL FUNDS
Another way to invest in Nigeria with a small amount of money is via mutual funds. A mutual fund is an investment vehicle where investors pool money to invest in various securities.

3. DO YOUR RESEARCH BEFORE INVESTING
Familiarise yourself with the instruments, the asset manager and the investment firm you plan to invest in/with.

It’s important you do your due diligence before making any investment decisions. Ensure you understand what you’re investing in and be aware of hidden costs, fees and penalties that come with each investment.

4. START INVESTING AS EARLY AS POSSIBLE
One of the best ways to see substantial growth in your investment is by starting early.

To achieve this, make room in your budget for investing. Start by investing at least 10% of your monthly income and simplify the process with digital investment platforms in Nigeria.

You can also take advantage of the power of compound interest. OVERWOOD offers Daily Compounding interest meaning every day, your interest is calculated based on your principal and previously accrued interest. Your daily returns earn you more returns. This is beneficial to you because the earlier you start investing, the more time your money will have to grow exponentially.

OVERWOOD is a safety-first investment platform that offers interest rates of up to 12% per annum compounded daily. Safely grow your wealth when you start your investment journey with www.overwood.ng today. You can also use OVERWOOD's compound interest calculator https://overwood.ng/investment-calculator to estimate how much your funds will earn over time!

Once you've gotten a hold of managing your finances effectively, it is time to start investing. As a novice investor, you will probably have a lot of questions like, “how do I start investing?" ”where can I invest?" and "how much can I start with?" This article will give you insights into how to start your investment journey.

1. SET A REALISTIC GOAL
When investing, you should have a goal and strategy in mind. You'll need to be aware of the result you are trying to achieve to make the right investment decisions. 

For example, by setting a realistic target of investing at least ₦100,000 per year and to grow your wealth by 15% each year, you have made your investment journey purposeful. Also, breaking down your investment goal into a step-by-step action plan will make it easier and faster to achieve.

2. UNDERSTAND YOUR INVESTMENT OPTIONS
There are multiple investment options available to investors depending on their risk appetite, starting capital, and time horizon. It is important to understand the investment instruments available and their level of risk. The most popular instruments for those just starting include:

1. STOCKS
Stocks are shares of ownership in a company held by a group or an individual. They are also known as equities. Stock investors earn money from capital appreciation, cash dividends, and bonus issues.

2. BONDS
These are loans given to a company or government that essentially pays investors a fixed rate of return for a certain number of years. Bonds are less risky than stocks because you'd know when and how much you will earn.

3. MUTUAL FUNDS
Another way to invest in Nigeria with a small amount of money is via mutual funds. A mutual fund is an investment vehicle where investors pool money to invest in various securities.

3. DO YOUR RESEARCH BEFORE INVESTING
Familiarise yourself with the instruments, the asset manager and the investment firm you plan to invest in/with.

It’s important you do your due diligence before making any investment decisions. Ensure you understand what you’re investing in and be aware of hidden costs, fees and penalties that come with each investment.

4. START INVESTING AS EARLY AS POSSIBLE
One of the best ways to see substantial growth in your investment is by starting early.

To achieve this, make room in your budget for investing. Start by investing at least 10% of your monthly income and simplify the process with digital investment platforms in Nigeria.

You can also take advantage of the power of compound interest. OVERWOOD offers Daily Compounding interest meaning every day, your interest is calculated based on your principal and previously accrued interest. Your daily returns earn you more returns. This is beneficial to you because the earlier you start investing, the more time your money will have to grow exponentially.

OVERWOOD is a safety-first investment platform that offers interest rates of up to 12% per annum compounded daily. Safely grow your wealth when you start your investment journey with www.overwood.ng today. You can also use OVERWOOD's compound interest calculator https://overwood.ng/investment-calculator to estimate how much your funds will earn overtime!

Go All In

Where you are may not look anything like where you are going, but if you keep at it, you will surely get there.

Keep going even if it seems impossible. You are worthy of unbounded success.


"When something is important enough, you do it even if the odds are not in your favor."
-Elon Musk

For weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

We live in a society where consumerism is adorned, and having it automatically means flaunting it. Succumbing to these pressures causes us to make financial decisions that, in the short and long run, affect us adversely. Most times our extravagant lifestyles aren’t backed up by our bank accounts or our values.
If you’re worried you’re living above your means, chances are you probably are. Here are five signs that let you know if you need a course correction.

1. You spend to impress
It is very important to first analyze your motives before spending. If we spend on only necessities, and sometimes self indulge, we are unlikely to find ourselves in financial pits. On the other hand, if we allow society or friendships to influence/dictate our spending, we’ll find ourselves buying things we don’t need or even like just to be socially accepted.

If this spending pattern is left unchecked, the lengths you’d go to please others will always leave you wondering where all your money went.

2. You’re living paycheck to paycheck
There’s no doubt we all need/rely on our paychecks for survival. If you find yourself with no money at the end of the month, it simply means you’ve either spent all you’ve earned or as is becoming the norm now, you’ve spent more than you’ve earned.

Being in either category can be a hard pattern to break. The only way to avoid being in the same situation is by cutting down on your expenses, especially if you’re not getting a raise/generating a new income source anytime soon.

3. You’re not saving
Saving is key in attaining financial independence. If you can’t save up to 5% of your income, chances are early retirement won’t be an option for you, unless you’re fortunate enough to win the lottery or get adopted by a Lord.

Everyone ought to save 10-15% of their total income, it’s a healthy financial habit that should be practised religiously. If you divert funds used on “wants” and not “needs” to your savings, you’ll find yourself having enough to save and then some.

4. You have no emergency fund
Asides from saving, you should have money put aside specifically for emergencies. This fund serves as a precaution from borrowing or loaning when an unexpected expense arises, and without it, you’re likely to rack up debt. Many feel they don’t earn enough to save and build an emergency fund.

It’s a legitimate claim for some, but you can always start with a little which will eventually build up to something significant.

5. You borrow to support your lifestyle
If you find yourself borrowing even after your paycheck, you’re living above your means. When your paycheck doesn’t comfortably cater to the necessities and extras, you’re going overboard with your spending.

By tracking your expenses and creating a budget you stick to, your money will be managed more effectively. Ridding yourself of such expenses will eliminate the need to borrow or take out loans.

Learning how to manage your finances enables you to live comfortably and accomplish your goals. Grow your wealth with safe, high-yield investment options tailored to meet your needs. Earn more daily with OVERWOOD’S daily compounding interest when you start investing with as low as N5000. Visit www.overwood.ng to get started.

Managing your finance is still a struggle for some adults. That’s why it is important to teach children about money and its value at an early stage. It might seem like a daunting task, but with proper supervision and practice, your kids can learn to make intelligent money choices.

Making children aware of how money works will make them more inclined to practice healthy spending habits. Financial education isn’t limited to any age group. Teach them the basics and watch it guide them on their path to financial independence. Here’s how you can teach them about money.


INTRODUCE THEM TO THE CONCEPT
The first step in teaching kids about money is to develop their knowledge of how it works. Let them know and understand everything they want has a price. Show them how money earned is used to acquire things. This would rid them of the illusion that money grows on trees.

PAYMENT FOR SERVICES
Make your kids understand money can only be earned through hard work. This is done by rewarding them when they get their chores done, or perform excellently in school. Also, explain how you afford nice things. Discuss your profession with them. This way, they learn money is earned, and it would help develop their work ethic.

CONTENTMENT
Teaching them to be satisfied with what they have can prevent them from splurging on things they don’t need. Developing self-control when it comes to our finances can save us from bad money decisions. When they do start earning, they would manage their funds better because they’ve learned to curb impulses.

SAVING
Practising this concept and showing them how would help kids better understand the benefits of saving. If they can’t afford to pay for something they want now, they have the option to save up to eventually pay for it. And even better, purchase something they didn’t know they’ll want or need from their savings.

BE AN EXAMPLE
Children are quick learners, they pick up habits from what they see. If you want them to learn the value of money, practice healthy spending habits when they are with you. Take them along when shopping for groceries. Don’t buy everything they ask for. If they want something, explain to them the importance of having a budget and sticking to it.

ALLOWANCES
With allowances, children get to have practical experience in handling money. By giving them allowances, they will either learn to rationalize what they have or end up spending it all. This experience will better highlight the downside of improper planning and overspending.

BOARD GAMES
Monopoly can be a fun way to teach children about the concept of money. This practical experience can be used as a lesson on spending and the value of money. Playing money games can help them practice and improve the way they handle money.

ENCOURAGE GIVING
Encouraging giving will teach children not to be self-centred. By giving from the little they have, they learn to be more aware of others in need and be more charitable.

Every child deserves a secure and bright future with options. With an OVERWOOD Child account, you can be sure your children have the future they desire. Sign up today and start investing in the future they deserve with as low as N5000. Visit www.overwood.ng to get started.

Successful investing isn’t only about how much money you make, it’s also about how much you keep. Mistakes are part of the investing process. Learning from your mistakes and others can make the difference between building wealth and falling into debt.

Investing is one of the best ways to build long-term wealth. To keep your portfolio from losing money and succeed as an investor, avoid these common investing mistakes.

1. NOT HAVING AN INVESTMENT GOAL
One of the most common mistakes while investing is not having proper investment goals. Goals give you direction, and an investment strategy helps you fulfil them.

Determine what your short-, mid-, and long-term investment goals are, how much you need to invest to get there, and use the best investment vehicles to achieve your goals.

2. HERD INVESTING
Don’t follow the crowd without doing your due diligence. Don’t make investment decisions based on tweets, rumours, hot tips, stories, conjecture, future predictions, or an expectation the market will go up without doing your due diligence.

Stop looking at others to guide your investment decisions. Instead, do the research yourself and use that knowledge to make informed decisions.

3. NOT THINKING LONG-TERM
Don’t treat investing as a get rich quick scheme. Patience is a virtue that should be practised while investing. Investing for the short-term won’t give your investments time to potentially grow.

Look beyond short-term volatilities and concentrate on the long-term growth potential of your investments. Create a long-term investment strategy to help you build wealth.

4. RELYING ON HISTORICAL RETURNS
Don’t confuse historical returns with future expectations. Past results are often not accurate indicators of future performance this is why you need to plan your investments wisely.

Historical performance should only serve as risk indicators for any asset you choose to invest in.

5. MAKING EMOTIONAL DECISIONS
Making emotional decisions when investing can lead to losses. The fewer feelings you involve when investing, the better.

Don’t rush your investment decisions or let fear and greed control your investment decisions. Focus on the bigger picture instead.
For safe, high-yield investment options visit www.overwood.ng. Earn up to 12% compounded daily.

5 ASSET CLASSES TO HELP YOU BUILD A PROFITABLE PORTFOLIO
Asset classes can be seen as a collection of financial products with common characteristics like risk, returns, liquidity, and various other parameters. Having different assets in your portfolio allows you to take advantage of the different strengths of each class. While all assets have their pros and cons, a basic knowledge of these assets will help you understand how to invest better.

Assets put money in your pocket. The more assets you have making money for you, the richer you get. If you have an investment portfolio or intend to build one, these are 5 asset classes you should consider:

1. CASH
They include liquid funds, saving accounts, online wallets, hard cash, money market instruments and certificates of deposit (CDs). Cash provides a safe haven for funds when markets are rocky or looking overvalued. It offers liquidity and most cash deals offer higher returns(Peer to peer lending). They are an important part of an investment portfolio because their high liquidity makes it easy for you to readily seize opportunities. Unlike stocks and other assets, cash equivalents must have a determined market price that doesn’t fluctuate. The downside of cash and its equivalents is, interest from banks doesn’t keep up with inflation.

2. STOCKS
Stocks are a collection of shares (units of ownership of a company). The company divides its capital into equal parts, which it can then sell as shares. Owning stocks in different companies can help you build your portfolio, protect your money from inflation, and maximize income from your investments if you consider a long-term perspective. The downside just like any investment is it comes with risks. The stock market is volatile and best suited to long-term investing.

3. BONDS
Bonds are a debt instrument or an IOU. They contribute an element of stability to any diversified portfolio. Bonds are a safe and conservative investment that offers relatively low volatility, high liquidity and a measure of legal protection. When you invest in bonds, you lend money to the bond issuer (corporations, local/ federal Governments). You lend them the money for a specified period of time known as the bond term. They in turn pay you interest at a specified interest rate. The downside is a lower rate of return.

4. REAL ESTATE
Real estate is the most common type of tangible assets that people own. It offers passive income and long-term wealth. You can create regular income and cash flow, protect against inflation and build equity for the future with real estate investment opportunities(REIT’s – Real Estate Investment Trusts, rental properties – residential, commercial, industrial, retail e.t.c). The major drawback is it requires a lot of upfront capital and you lose liquidity.

5. COMMODITIES
Commodities offer an inflation hedge unmatched by other asset classes and the prospect of improved risk-adjusted returns. It benefits investors during economic uncertainties. They are riskier forms of investments with opportunities to make huge profits. Another downside of commodities is that they are susceptible to weather and regulatory risks. Commodities can be divided into four sectors;

Agriculture – livestock, wheat, corn
Energy – natural gas, coal, crude oil
Industrial metals – Steel
Precious metals – Gold, Silver


Your portfolio is considered balanced when it includes investments spread across various assets. Diversifying your portfolio is ideal because it helps to reduce risk while maximizing returns. Assets all have their advantages and disadvantages. Consider your risk tolerance and financial goals before opting for any investment option. For safe, high-yield investment options visit www.overwood.ng

5 ASSET CLASSES TO HELP YOU BUILD A PROFITABLE PORTFOLIO
Asset classes can be seen as a collection of financial products with common characteristics like risk, returns, liquidity, and various other parameters. Having different assets in your portfolio allows you to take advantage of the different strengths of each class. While all assets have their pros and cons, a basic knowledge of these assets will help you understand how to invest better.

Assets put money in your pocket. The more assets you have making money for you, the richer you get. If you have an investment portfolio or intend to build one, these are 5 asset classes you should consider:

1. CASH
They include liquid funds, saving accounts, online wallets, hard cash, money market instruments and certificates of deposit (CDs). Cash provides a safe haven for funds when markets are rocky or looking overvalued. It offers liquidity and most cash deals offer higher returns(Peer to peer lending). They are an important part of an investment portfolio because their high liquidity makes it easy for you to readily seize opportunities. Unlike stocks and other assets, cash equivalents must have a determined market price that doesn’t fluctuate. The downside of cash and its equivalents is, interest from banks doesn’t keep up with inflation.

2. STOCKS
Stocks are a collection of shares (units of ownership of a company). The company divides its capital into equal parts, which it can then sell as shares. Owning stocks in different companies can help you build your portfolio, protect your money from inflation, and maximize income from your investments if you consider a long-term perspective. The downside just like any investment is it comes with risks. The stock market is volatile and best suited to long-term investing.

3. BONDS
Bonds are a debt instrument or an IOU. They contribute an element of stability to any diversified portfolio. Bonds are a safe and conservative investment that offers relatively low volatility, high liquidity and a measure of legal protection. When you invest in bonds, you lend money to the bond issuer (corporations, local/ federal Governments). You lend them the money for a specified period of time known as the bond term. They in turn pay you interest at a specified interest rate. The downside is a lower rate of return.

4. REAL ESTATE
Real estate is the most common type of tangible assets that people own. It offers passive income and long-term wealth. You can create regular income and cash flow, protect against inflation and build equity for the future with real estate investment opportunities(REIT’s – Real Estate Investment Trusts, rental properties – residential, commercial, industrial, retail e.t.c). The major drawback is it requires a lot of upfront capital and you lose liquidity.

5. COMMODITIES
Commodities offer an inflation hedge unmatched by other asset classes and the prospect of improved risk-adjusted returns. It benefits investors during economic uncertainties. They are riskier forms of investments with opportunities to make huge profits. Another downside of commodities is that they are susceptible to weather and regulatory risks. Commodities can be divided into four sectors;

Agriculture – livestock, wheat, corn
Energy – natural gas, coal, crude oil
Industrial metals – Steel
Precious metals – Gold, Silver


Your portfolio is considered balanced when it includes investments spread across various assets. Diversifying your portfolio is ideal because it helps to reduce risk while maximizing returns. Assets all have their advantages and disadvantages. Consider your risk tolerance and financial goals before opting for any investment option. For safe, high-yield investment options visit www.overwood.ng

Just Do It

It’s great to have ideas but what’s more important is your ability to turn those ideas into reality.

The key is just to start. Remember, you miss 100% of the shots you don’t take. So, just do it!

“It's not about ideas. It's about making ideas happen.”



For weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

You Are Your Own Competition

We are all talented and unique.

Don’t waste precious time trying to compete with others.

Learn from them, but focus all of your energy on activities that will make you the best version of yourself and help you live your life to the absolute fullest.

“You don't need to be better than anyone else you just need to be better than you used to be.”
— Wayne W. Dyer


For weekly inspiring content that will push you to greatness, sign up for the OVERWOOD newsletter at www.overwood.ng

Every financial decision you make can either bring you closer to being wealthy or take you further away. Developing some basic habits and making intentional choices can be the difference between having healthy finances and financial despair. Sometimes building wealth requires us to make the difficult decision to forgo some indulgences.

Building healthy habits is one way to ensure you build wealth over time. It will take some patience, sacrifice and discipline but if you can control your habits, you can have more control over your life. These 6 habits will make you more confident about money.

1. PRIORITIZE YOUR FUTURE

Have SMART goals and keep them in mind always. It can be easy to forget why you started or get distracted by everyday pressures but stay focused on those goals and why you started.

Don’t let FOMO (the fear of missing out) influence your financial decisions. Instead, focus on developing yourself and mastering your skill set for a better future. Focusing on the end game should be enough to keep you motivated.

2. PAY YOURSELF FIRST

This wealth-building habit ensures you’re always on track with your financial goals. Paying yourself first ensures you always have money saved up at the end of every month. No matter how good your intentions are, life always happens.

Choosing to save up what’s left at the end of the month might not always be possible and this can affect your financial goals. Paying yourself first helps you create a long-term healthy financial habit of prioritizing saving over spending.

3. TRACK YOUR SPENDING

The best way to track your spending effectively is with a budget. Most people rather guesstimate their expenses than create a budget they can stick to.

To avoid always wondering where your money goes and to ensure your spending is in check, create a budget that factors in both fixed and variable expenses. You can track your spending with budgeting apps or even a simple spreadsheet.

4. AUTOMATE YOUR FINANCES

Automating your finances gives you one less thing to worry about. It also removes the human element (wavering willpower) and gives you a certain level of accountability when it comes to your finances.

You’re able to contribute to things that are important to you without having to think about it. As soon as you’re paid your money should go towards your financial goals and your future self before expenses.

5. INVEST

Invest both in yourself and your finances. Invest so your money can make more money for you and your future self can be taken care of. Take time to seek out credible personal growth and investment opportunities like www.overwood.ng offers and take advantage of them.

This habit is one of the major contributors to financial independence. If you’re planning to build lasting wealth, investing is key! You must ensure you build a well-diversified portfolio. Also, take time to invest in activities that will bring you personal growth and success.

6. LEARN

Devote time to learning something new daily that’ll pay off down the road. Learning about personal finance is critical to building wealth.

Knowledge is power and building lasting wealth doesn’t require a plethora of knowledge. “Investment in knowledge pays the best interest”. Make learning something new part of your daily routine to gain the confidence to make smarter financial decisions.

FINAL THOUGHTS
Inculcating these healthy habits will help you earn more, save more, and get you to your financial goals. Remember, building your wealth might be a slow and steady climb so stay the course and over time, you’ll achieve your dreams.
If you haven’t started investing yet, the next best time to start is TODAY. OVERWOOD offers safe, high-yield investment solutions tailored to suit you and your needs. Invest in the future you desire today with as low as N5,000. Visit www.overwood.ng to get started.

Spending less and saving more is easier said in theory than done in practice. But spending wisely is an important step in achieving the financial freedom you need, to enjoy the lifestyle you constantly dream about. While there is no one-size-fits-all way to cut spending in order to put yourself on the road toward financial freedom, here are some tips to help you take control of your finances.

1. Buy Rationally Not Emotionally
If you are making a purchase, don't let emotions drive you. Instead, think before you buy. Can I afford this now? Do I need this? Can I get a similar item that can satisfy my need at a more affordable price? It's important to ask yourself these questions (and answer honestly) before making any purchase, particularly when it hasn't been budgeted for.

2. Consult Your Budget Always
Establish a budget that clearly outlines the items you need and your maximum spending limit for each item. When making purchases ensure you stick to your spending limits. If it's not on your list, decide if it's a "NEED" or a "WANT". If it’s a want you can afford, plan for it in your next paycheck. If it’s an immediate need, make room in your budget for it.

3. Wait 24hrs Before Spending On Wants
If you are prone to buying things on impulse this tip is extremely important. Giving yourself a minimum of 24 hrs before falling into temptation will provide you enough time to decide if you really need an item or can do without it. This helps give you more control over your spending triggers and keeps your spending in check.

4. Do Your Research Before Making Large Purchases
A great way to avoid overspending on a product or service is to research products and companies online before making major purchases. You will be able to find the best possible deals online when you compare products or services and therefore avoid buyer's remorse.

5. Do Not Spend To Impress
The desire to impress people, most of whom you dislike, or to prove you are better than what people imagine will leave you bankrupt. It’s easy to fall into following the crowd but it shouldn’t be to the detriment of your financial health. Don’t fall into this financial trap. Instead, build financial discipline and avoid people that trigger this habit in you.

Final Thought

Spending less and saving more is an intentional effort. You have to make sacrifices to achieve the financial freedom you desire. Checking how you spend does not mean living less, it’s all about being economical in your spending by clearly distinguishing between your needs and wants.
The best way to spend is to invest. That way, you're buying a day you don't have to work to earn in the future. Invest in a future you deserve with OVERWOOD today. Visit www.overwood.ng to get started.

Raising kids can be expensive. These expenses and the cost of education are rising higher than inflation daily which means that education costs may end up being much higher than your salaries. This is why you need to keep these huge costs in mind and start plannig for your child's future.

Our children should have nothing but the best in life. Following these tips will give you peace of mind knowing that your children will grow up to have a secure future.

1. Invest in Their Education

Education costs keep rising with each passing day, this is why it is important to invest in an education plan that will grow your funds to match inflation and meet your child's expenses. Investing in your child's education gives them the advantage they need to have a secure future.

The best time to start is now. If you wait years before starting an investment plan for your children, you waste valuable time that could've benefited from earning compound interest. Use the power of compounding to your advantage.

2. Invest in Life Insurance

Having an investment plan is not enough to secure your child’s future, you also need to consider unforeseen situations. Your children rely on you financially – so to ensure their financial security should you pass away, a life insurance policy is an important investment.

Find the best life insurance policy for your family’s needs and budget to ensure your child's needs are taken care of even when you aren't around.

3. Have a Will

We all plan to live till we are old but there are no guarantees. A will gives clear instructions as to what should happen to your assets and policies in the event of your death.

Without a will, you put your children’s financial future in jeopardy, as the state and envious relatives can become involved and make financial decisions on your behalf. This could mean that your children may receive little or nothing at all.

4. Teach Your Kids Financial Literacy

Teaching your kids about money helps them to develop healthy financial habits. Starting at an early age can have a lasting positive impact on their financial decisions when they grow up.

Don’t underestimate their ability to be taught about money and saving early on. These healthy habits will likely continue into their adulthood and teach them the financial discipline needed to have a financially secured future.

What's next?

No parent should compromise on a better future for their child that is why following these 4 steps are important. In a world filled with uncertainties, you can take thoughtful steps towards securing your child’s future with thoughtful planning. If you have a child or are expecting one soon, start planning for their future early. Invest in opportunities that will help in securing their future. The sooner you start, the better. Visit www.overwood.ng to safely start investing in your child's future. Give them a future with opportunities.

In your 30’s there’s a major shift in priorities. You might start to consider firmly establishing yourself in your career or business and even start thinking about building a life with a partner and planning for your long-term future.

You’ll have to make several important financial decisions that will lay the foundations for your financial future. There are so many money traps that can get in the way of your financial freedom without you realizing it. These are 5 common money traps you should avoid

1. BUYING A CAR THAT’S OUT OF YOUR PRICE RANGE
Don’t buy a fancy car just because you can. A car loses about 30% of its value in the first year, and they are actually liabilities unless it’s used as a source of income (Uber, bolt).
When considering your options, choose to spend wisely. Think about what the extra funds could do to either help you save or invest more money.

2. BUYING A HOME THAT’S TOO EXPENSIVE
The more expensive the home you buy, the higher other expenses will be (utilities, repairs). It will take away the money you could be investing elsewhere and leave you constantly scrambling to cover your expenses.
Don’t fall into this overspending trap. Buying a less expensive house than you can afford will enable you to comfortably afford your house payment if one income source is lost.

3. SPENDING TOO MUCH GOING OUT
Budget for your entertainment and stick to it. Give yourself a little room to spend on the things you really want to do but keep it under control.
A little forethought will go a long way toward reducing your stress over finances. Develop the discipline to save and invest instead.

4. HAVING AN EXPENSIVE SIGNIFICANT OTHER OR FRIENDS
One of the biggest mistakes you can make is not having an open discussion about finances with your partner. It can be a major cause of relationship and financial trouble.
If you keep company with free-spending friends, you might get caught in the game of trying to keep up. Don’t let other people’s expenses take away your ability to plan effectively for the future.

5. NOT INVESTING
The earlier you start putting money away in safe investment options like www.overwood.ng offers, the more time you will have to take advantage of the power of compounding. Investing too conservatively in your 30’s can also rub you of the returns on your portfolio you need to get.
Long-term investing is a marathon, not a sprint. Don’t get caught up in short-term investment gains that might leave you in financial distress.

WHAT’S NEXT
Any one of these mistakes has the potential to put you in financial distress. Even with a relatively high income, it might leave you scrambling later in life. Life moves fast, and you don’t want to lose track of your goals in the process. Think of this article as a map to help you bypass money traps and ensure you’re set up for financial freedom in the years to come.

Asset classes can be seen as a collection of financial products with common characteristics like risk, returns, liquidity, and various other parameters. Having different assets in your portfolio allows you to take advantage of the different strengths of each class. While all assets have their pros and cons, a basic knowledge of these assets will help you understand how to invest better.

Assets put money in your pocket. The more assets you have making money for you, the richer you get. If you have an investment portfolio or intend to build one, these are 5 asset classes you should consider:

1. CASH
They include liquid funds, saving accounts, online wallets, hard cash, money market instruments and certificates of deposit (CDs). Cash provides a safe haven for funds when markets are rocky or looking overvalued. It offers liquidity and most cash deals offer higher returns(Peer to peer lending). They are an important part of an investment portfolio because their high liquidity makes it easy for you to readily seize opportunities. Unlike stocks and other assets, cash equivalents must have a determined market price that doesn’t fluctuate. The downside of cash and its equivalents is, interest from banks doesn’t keep up with inflation.

2. STOCKS
Stocks are a collection of shares (units of ownership of a company). The company divides its capital into equal parts, which it can then sell as shares. Owning stocks in different companies can help you build your portfolio, protect your money from inflation, and maximize income from your investments if you consider a long-term perspective. The downside just like any investment is it comes with risks. The stock market is volatile and best suited to long-term investing.

3. BONDS
Bonds are a debt instrument or an IOU. They contribute an element of stability to any diversified portfolio. Bonds are a safe and conservative investment that offers relatively low volatility, high liquidity and a measure of legal protection. When you invest in bonds, you lend money to the bond issuer (corporations, local/ federal Governments). You lend them the money for a specified period of time known as the bond term. They in turn pay you interest at a specified interest rate. The downside is a lower rate of return.

4. REAL ESTATE
Real estate is the most common type of tangible assets that people own. It offers passive income and long-term wealth. You can create regular income and cash flow, protect against inflation and build equity for the future with real estate investment opportunities(REIT’s – Real Estate Investment Trusts, rental properties – residential, commercial, industrial, retail e.t.c). The major drawback is it requires a lot of upfront capital and you lose liquidity.

5. COMMODITIES
Commodities offer an inflation hedge unmatched by other asset classes and the prospect of improved risk-adjusted returns. It benefits investors during economic uncertainties. They are riskier forms of investments with opportunities to make huge profits. Another downside of commodities is that they are susceptible to weather and regulatory risks. Commodities can be divided into four sectors;

Agriculture – livestock, wheat, corn
Energy – natural gas, coal, crude oil
Industrial metals – Steel
Precious metals – Gold, Silver


Your portfolio is considered balanced when it includes investments spread across various assets. Diversifying your portfolio is ideal because it helps to reduce risk while maximizing returns. Assets all have their advantages and disadvantages. Consider your risk tolerance and financial goals before opting for any investment option. [url]www.overwood.ng [/url]focuses mainly on the safety of your funds and providing you with safe high-yield investment options to help you build long-term wealth.

Investing may seem scary but it’s one of the most effective ways to build wealth and set yourself up for financial success. With so many available options, investing for beginners is simpler and more straightforward than ever before. Here are a few actionable tips to get you on your own smart investing path.

1. Have an Investment Goal
Your goals will help you choose investments that fall in line with your aspirations. The goals you set should be SMART and they should each have specific time frames they fall into. Is it a short-term or long-term investment goal? SMART goals will guide your investment choices to success.

2. Research Before Investing
Familiarise yourself with the instruments, the asset manager and the investment firm you plan to invest in/with. It’s important you do your due diligence before making any investment decisions.
If you’re investing on your own or getting advice from professionals, ensure you understand what you’re investing in and analyse extensively whoever is helping you invest. Be aware of hidden costs, fees and penalties that come with each investment.

3. Start Small
In order to invest money, you first have to save some up. One of the common misconceptions about investing is you need a lot to start. Many investment options now have a low barrier to entry.
Don’t wait till you have “a lot”. You can find safe investment options that can put your money to work no matter how little. You can build momentum as you grow.

3. Build a Diversified Portfolio
“Never put all your eggs in one basket.”- This is the central thesis on which the concept of diversification lies. Diversifying is one of the golden rules of investing.
As you begin to learn more and invest in various instruments, diversifying ensures all assets in your portfolio don’t rise or fall concurrently in value. The wider your portfolio spread, the less dependent you’ll be on the unpredictable value development of asset classes. It reduces your risk exposure.

5. Invest Consistently
One key to building wealth is developing healthy financial habits. Making monthly contributions towards your investments not only increases the earning potential of your investments but also ensures your prioritizing your financial goals overspending.

Bottom Line
When it comes to building long term wealth investing is how you do it. Investing takes a little bit of learning, but once you get the hang of it, it’s with you for life and it makes you rich over time. Many safe platforms like www.overwood.ng have made it easier than ever to invest with little money. All you have to do is start now with what you have. Make smart choices with your limited resources. Start investing in a future you deserve today.

After graduating from the university, there is a list of "next steps" you create which may include getting a job, creating a budget, or even stomping new grounds. However, there's one more thing you ought to add: Investing.
We understand. Retirement seems way far off and you think now is the time to just enjoy your earnings. However, as the old saying goes, little drops of water make a mighty ocean. The sooner you begin investing for a better future, the better it'd be for you.
In this article, we'd discuss a few points on how to start investing even if you're a fresh graduate.
Invest in yourself

After graduating from the university, you probably aren't earning so much money so the first thing you'd need to do is ramp up your income stream as quickly as possible. This can be achieved in numerous ways:
Improve your skill set -Take classes to learn new skills, earn certifications.
Get a good-paying job and work hard enough to get promotions and raises -Be known for doing excellent work until you become indispensable.
Get advanced degrees -Go the extra mile in boosting your perceived value which will, in turn, boost your earning capacity.
Start a business on the side -In essence, build a 5-9 asides from your 9-5 and grow it. It may be tough, but it'd pay off at the end if you tend it properly.
It is imperative to make money first before you can begin investing a meaningful amount. Do something to earn an extra income that you can invest.

[b]Minimize lifestyle inflation
[/b]You're probably wondering how you'll get the extra money to invest with. It is not as hard as you think. Minimizing lifestyle inflation is just as important as investing is. Track your expenses to know how you spend your money, then cut back on the excesses.
Many people spend more when they make more money. Avoid this trap and invest the extra money instead. It may either be by curbing the impulse to spend on perceived value rather than the actual value or turning down the offer to spend excessively on an outing with friends. Whatever it may be, cut down on expenses that don't add value to your life.

[b]Start now
[/b]There are so many benefits to getting a jump on investing at a young age. Since time is on your side, your money will grow very quickly over time with the power of compound interest. Compounding is the eighth wonder of the world. Due to its power, a single penny can grow into millions over time.

Asides from the power of compound interest, starting early will help you develop the habit of investing. Saving for the long-term is a key part of wealth-building, so you'll want to get comfortable with it early enough. Make saving and investing mandatory and be consistent with it. Start your investment journey with Overwood(www.overwood.ng).

Creating a family budget may seem like a difficult task as it entails balancing the financial needs of your family with yours. This is why many families operate without a household budget, and those who create a spending plan may not be doing it right.

However, planning a family budget in Nigeria goes beyond tracking spending habits and keeping receipts. Here are five steps to planning an effective family budget.



1. Set financial goals
This is the first and most important aspect of planning a family budget. You must first have an end goal before setting on a journey. Think for a while on the financial goals that align with every member of the house, then write them down. You may need to negotiate with them but make sure to set goals that everyone agrees to, else it’d be difficult to maintain the budget.

The goals you set are the targets that’ll help build your plan. Determine the amount you’d need to reach each goal, and how you wish to accomplish that goal. Examples of goals you can set are to get out of debt, save towards your children’s future education, retirement planning, or saving towards buying a house. Make sure to set short-term, medium-term, and long-term goals.



2. Evaluate your current financial situation
The next step is to evaluate the financial situation of your family by tracking your income and expenses. Make a list of your household income sources and recurrent expenses and their amounts. Then, track your expenses for two to three months, to understand your family’s spending habits. This gives you a clear picture of your net income and possible expenses to budget for.


3. Prioritize needs over wants
Once you know how much you have and what your goals are, choose a budgeting method that works best for you. As you track your finances, you’d notice the categories you do not need (or where you need to trim costs). To create an effective family budget, it is important to prioritize needs over wants and cut off the excesses in your expenses. This will allow some excess cash that you can save. Consider using the 50-30-20 budget rule to manage your finances.

4. Allocate funds
Start allocating funds to the essentials before moving on to the nice-to-haves and non-essentials. Fixed expenses are easier to list since the cost is usually the same month-to-month. For variable expenses, you’ll need to do some math to find the average.

5. Build your savings

Every family needs to have savings; a stash of funds towards meeting a financial goal. Even if you’re focused on paying off your debt, make sure to open an emergency fund and save three to six months of your family’s living expenses. Afterward, you can then start saving a particular amount each month, and invest your savings in a safe, high yield investment instrument like www.overwood.ng.

Now that the brunt of the pandemic is beginning to wear off, businesses are back in operation, and we are adjusting to what seems to be our new normal, taking the time to manage your money better can pay off.

Important money habits are built over time, so managing your time effectively will improve the state of your finances. Ask yourself, What are your financial goals? What do you need to change or improve on to manage your finances better? Just like with any other goal, by consciously building these healthy financial habits, you’re bound to get your desired results.

[b]Create an additional source of income
[/b]An additional source is an integral step in escaping the rat-race (living paycheck to paycheck). The pandemic might have given you free time into figuring out how to generate extra income. Your next step is to come up with a plan and put your plan in motion.

From starting a side hustle to building a diversified investment portfolio, multiple income streams will always lead to healthier finances, especially when combined with smart and healthy spending habits.

[b]Build a buffer
[/b]Now is a good time as any to practice frugality. Avoid impulse buying, create a budget that works for you, and stick to it. By implementing a budget, you can avoid money pits and save up spare cash for emergencies.

Those that had a previously established emergency fund when the pandemic hit can testify to how having one softened the blow on their finances. Try as much as possible to replenish what has left the fund, and if you don’t have an emergency fund, now is the time to start building one in a savings account with high interest.

Get rid of bad debt
[/b]Being debt-free is a lifetime commitment that requires you to always live below your means. However, some extenuating circumstances can land you in a pile of debt. The best thing to do? Start prioritizing paying them off! Pay off your high-interest debt first and try as much as possible not to incur any more debt.

Track your spending by creating and following a budget. This will help manage what you have more effectively. Once your overall spending falls in line, you’d be able to find the balance between paying off debt and working towards financial stability.

[b]Invest
Most people have bad savings and investing habits that inadvertently reflect on the state of their finances. A healthy financial life requires you to allocate 20% of your earnings to your savings and investments.

Take advantage of the opportunities Fintechs in Nigeria, like Overwood, offer to make investing easier. Start your investment journey with OVERWOOD www.overwood.ng.

If you’re finding it difficult to save and invest diligently, modify your lifestyle to support investment and savings automation. This is one of the best ways to simplify and improve your financial health.

[b]Educate yourself
[/b]The more you improve on your financial knowledge, the better you become at managing your finances. Reading a personal finance book is a great way to start, and the knowledge you’ll gain will prove invaluable.

You can also take courses focused on an area of financial development you’re interested in, and talk to professionals in the finance industry. Spending time to learn more about your personal finance can be enlightening, and when this knowledge is strategically implemented, the effect will be transparent.

Having a fully covered emergency fund (three to six months of your living expenses) is vital to your financial health. Most people downplay the role an emergency fund plays as an essential personal finance tool. You can’t foresee an accident, but you can choose to be proactive by building an emergency fund for whatever life throws at you e.g. COVID-19. If you’re thinking of building your emergency fund, the next question would be, "where do I put it"?

Ideally, the best places to store your funds are in instruments that offer liquidity. This is the most crucial feature to consider when making your decision. OVERWOOD www.overwood.ng offers liquidity and flexible withdrawal windows even though its products are designed for long-term investments, not short-term savings. A traditional savings account might be your first choice, but other liquid instruments can keep your funds safe while you earn interest. By earning interest on your savings, you’re balancing out the probable effect of inflation on your funds. In foresight, the funds earmarked for emergencies should be housed differently from your periodic savings.


Money market account
Saving your emergency fund in a money market account will earn you more interest than conventional savings or current account. Some MMAs in Nigeria offer you the opportunity to earn an increased yield on short term investments. With the added benefit of a debit card and check-writing ability, your funds can always be easily accessed. Before deciding if this account meets your savings needs, you should do your research and consider all possible fees.

High-yield savings account
A high-yield savings account differs from your traditional savings account because of the interest rate. While you might not get rich using this account, you can earn some extra cash on your emergency fund. Most high-yield savings accounts are found at online banks. Research on options with competitive interest rates, and consider other factors like the minimum balance requirements and account fees when making your decision.

Certificates of deposits (CDs)
The best way to save your money is to put it where it can earn interest. To earn even more returns, you can consider Certificates of deposits. It’s essentially an agreement with the bank to use your money for a fixed period in exchange for interest. The maturity for CDs in Nigeria ranges from 30 days to 5 years. While you get to choose a tenor that best works for you, the drawback is the penalty that may be incurred as a result of early withdrawal.

Treasury bills
Treasury bills are another option for your emergency fund, and they are the most liquid securities. They are government-guaranteed debt securities that mature within a year. With treasury bills, you are loaning the government your funds in exchange for an interest. The maturity date varies, and the longer the maturity date, the higher the interest rate. Thinking long term, it can put extra money in your pocket.

Most people's reality has been altered by the effect of the pandemic either mentally, emotionally, or even financially. A lot of companies were affected negatively, and the ripple effect caused salary reductions, job losses, and the worst case, the company folding. According to quartzafrica, “In Nigeria, the unemployment rate came in at 27.1 percent just in the second quarter of 2020, which is the highest on record so far.”.

If you’ve been lucky enough to hold on to your job, you have to take strategic steps to keep it. More importantly, prepare your finances for the unexpected. The workforce is always vulnerable to cutbacks due to unpredictable economic downturns, but by improving your professional stability, you can weather any unemployment storm. These steps can also help protect you.

Grow your professional Network
There are long-term benefits in growing and maintaining a professional network. While nepotism can be seen as a foe to many, building positive relationships with people in your field can help get your foot in a door that may otherwise be closed. This step can be considered being proactive, and the internet age has made it easier to connect with professionals using social media platforms like LinkedIn and Twitter. Take advantage of this opportunity.

Make yourself indispensable
Companies are looking for strong leaders, and the only way you can become one is by practicing good work ethics. Show up on time, be a team player, and do your job to the best of your ability. Focus on contributing positively to the company and showcase your value. By surpassing the “model employee”, your chances of being laid off will be low, especially when unemployment starts lurking. It may sound like additional pressure, but it will pay off.

Make saving a priority
Saving money in Nigeria with the current economic situation can prove to be a difficult task, but building up your cash reserves right now is paramount. Beef up your emergency fund and find ways to cut your expenses. It is vital to have constant periodic savings to protect your finances. If you struggle with saving consistently, take advantage of the digital savings platforms in Nigeria and put it on automatic.

Invest, Invest, Invest
Investing here goes beyond your personal finance. While it is always advisable to build a diverse investment portfolio in a safe, high-yield investment vehicle like OVERWOOD www.overwood.ng, the best investment has always been in knowledge. Any amount spent on training is an investment in your best product, yourself. Take classes to improve your qualifications. Examine your options and determine the right move for you. Invest your time and money in upping your skills, so you're more employable.

Start a side hustle
Another way to protect yourself from unemployment is to ensure financial stability by starting a side hustle. With this, no matter what happens, you’re not solely reliant on your job for income. Start with finding a part-time job or monetizing your passion. Take advantage of the information available to help turn that idea into a money-making engine. Earning extra income opens the door to the possibility of unexpected success, which is great for your financial health.