₦airaland Forum

Sholapey:
I know, I had to change my husband's mindset too with love and assurance that makes him realise that we're from different background and our destinies are different. If you see the way oga installed IP remote cameras all over our house here, you'd say haba...but I don't mind, I'm happy that am one of his treasures. I don't argue with him, i only talk about business ideas and our kids progress cos Money stop nonsense!

Weldone Madam.

Keep doing well.

ojesymsym:
While this may work in theory but there is no evidence to suggest that we will not just cram to pass the exam because I know many graduates of business admin and economics who are not savvy investors.
Even investment bankers can give you sound investment advise in the bank but many of them do not believe or practice what they preach.

As long as people still believe that delayed gratification is poverty or selfishness, it will be a hard but to crack

Very true.

Practical aspects are very important.

Nothing is like being in the fields of INVESTMENT

tomtom370:
Very apt!

The next question would be; how do we influence, perhaps, kickstart this culture?



Influence is a major tool of behavioral and social reformation. The journey to this cultural/social shift has to start with individuals who will then influence those around them, especially, within the family space.

The sequence, I presume, will be: Personal - Family - Neighborhood - Network/Social Circle - National.

Trust me, this isn’t a 5-10 years goal.

But it's achievable

LordAdam16:
A revolt is possible but somewhat pessimistic.

The importance of a society-wide support system rests on a very commonsensical understanding of human nature.

A Math tutor told my class--"Want to be good at Maths; solve a mathematical problem everyday. Any problem."
Writers are encouraged to write something every day, like Hemingway.
Religious leaders encourage the pew to pray and study religious texts as often as possible, preferably every day.
The best athletes never stop practicing--10,000 hour rule.

We are all sieves, kids moreso. And we pick a lot of stuff subconsciously. Infusing the principles of saving and investing in most of what we do culturally makes your job as a parent much easier, makes it easier for kids to internalize good lessons--practically makes it seem normal, and makes it easier to achieve widespread financial education; as kids will learn at different paces (and a lot of time from indirect sources).

Unfortunately, we are not yet there as a society where we're thinking in this direction. The vast majority are just trying to survive, leaving little time or will to design and develop a system where we don't just thrive but prosper.

-Lord

I think INVESTMENT and FINANCIAL INTELLIGENCE should be a course from secondary school to university.

This may help the youths in gaining this wisdom early enough before earning income.

People like Pa. Emmanuelwumi can be in the national television or radio in educating the youths about his experiences in investment.

Most of us were not taught Investment in schools but were favoured to meet like-minds

tomtom370:
You started pretty well with good home support.

A lot of people never had such exposure, experience or even motivation from the home or environment. Na school of hard knocks reshape us, though, it was almost too late to catch up.

Back in secondary school, I had a friend who would hustle and give his mum some money to save for him. Guess what, the mum was spending the money. When it was time for him to retrieve the money, story start. Invariably, that’s a point of discouragement to work, earn and save.

If everyone can learn to live within/below their means, no one will be a financial burden to another person.

Mmmmmm

Oga I suffered ooo

Infact I hear qwiiii no be small

Na God safe me oo

Lost parents long time ago at that affirmative age

I have to learn and hussles to take care of my education the hard way.

But God's grace and favour were bountiful to me till today.

IamR:
No be today.

But we need to teach our children the disciplines we learnt so that it will be sustainable and generational.

Most children will wants all the goodies of life forgetting how parents built the wealth.

Some get squandered with bad influence in town.

9jatriot:
This is one of the first book any potential investor should read. The lessons are timeless.

Soft copy is freely available online for e-library.

The principles in that book is still applicable today.

tomtom370:
You started pretty well with good home support.

A lot of people never had such exposure, experience or even motivation from the home or environment. Na school of hard knocks reshape us, though, it was almost too late to catch up.

Back in secondary school, I had a friend who would hustle and give his mum some money to save for him. Guess what, the mum was spending the money. When it was time for him to retrieve the money, story start. Invariably, that’s a point of discouragement to work, earn and save.

If everyone can learn to live within/below their means, no one will be a financial burden to another person.

Nawaoooo

Mother chopping child's savings

Quite discouraging.

emmanuelewumi:
Very good summary. In the Millionaire next door, it was reported that Americans of Jewish, Irish and German origins have more concentration of the American millionaires. The Irish are the most frugal.


Frugality is the starting point

It takes discipline to be Frugal and consistent with it.

tomtom370:
Thank you the kind words.

Interesting thoughts. But what spurs such saving/investing mentality in a child?

Environment, education and exposure are strong determinants of an individual’s greatness or otherwise.

Every child is often a product of the lessons learnt from his/her parent, home, school and all, that’s why kids who’re thought or perceived a culture of management/saving and investment from their parents will most likely follow suit, while those who grew up seeing their parents getting loans to finance parties and live outrageous life will mostly likely follow suit.

It’ll take an extra form of personal introspection and pursuit for the kids from the outrageous background to outgrow and change that pattern, if he ever gets to see the other side of that life.

So, yes everyone has got to be responsible for his or her own financial destiny, yet certain foundational traits trigger such instincts and idea in a child, primarily via the family.

I read the Richest Man in Babylon in JSS 3.....that was when I learnt the habit of savings and that changed my life for good. I save any small gift i was given, later tell my parents to help me invest them so that the money will grow. It was small, but the habit became of me.

9jatriot:
God bless you and your English teacher that taught you how to present your case in a clear and concise manner.

As for investment, I think it is first a mentality not to be wasteful and want to grow what you have. The things you can learn will be things like where to invest, what to look out for, how not to get scammed, capital preservation, interest rates etc. But the will to be patient and willing to invest is a mentality that one has while growing up.

For example, while growing up, there were kids who stole their parent's money to be buying sweet. They were another set of kids who used to bring sweets and other small things to school to sell.

Na there each one de grow his investment or consumer mentality.

Very Apt Sir.

ositadima1:
Lol, but why na? Is it to spike share price so that they can release new public offerings at premium? Or maybe to secure a decent loan ratings. Beside these I can't think of a good reason for that.

No be small thing Sir.

Only the directors chop alone.

locodemy:
Only newbies can take them serious.

Please they should avoid the insurance companies except for jijo if they have the energy

austinkenneth:
haaa. 25 kobo no too much ooo. If they don't pay at least 15 kobo, then the profits may as well be audio profits.

Most insurance firms declare Audio Earnings......am yet to invest in any insurance firm.

Phyde:
For her to be regular in this forum shows she belong to the financial intelligent class. Won't be a bad idea if we connect.

So CONTINUE and invite us

emmanuelewumi:
Na so naaaw. You are lucky your wife is a super saver

Those of us whose wives share our visions don't know what most people are going through

Na so.

Na why I de pamper her always.

Get many friends that always ask for financial support. ......I always wondered. .....no be the same salary all of us the collect month end?

emmanuelewumi:
I want to believe most of the women who frequent this thread are different from the average women in town

Yes Sir.


Na investopedia them be.....very prudential savers and investors.

arduino:
Reason why some men under-declare their income to avoid stories that touch.

But if you have an investment minded wife......you will cherish her like kilishi

Na you go want to even flex body.......because she go want to invest every dime after family expenses.

Just let her know where the family is heading investment wise.....

emmanuelewumi:
If you have set an unsustainable life style and you don't have a reserve or an investment that can subsidise the expenses, you will end up being a laughing stock

Na disaster.

Those that fail to plan.....have already in default. ....plan to fail.

Phyde:
Where can i find one in this present Nigeria please

Look well

She may be the one....CONNECT

arduino:
Or try add one more child.

Is good na.

Thanks to Coronavirus.......,stay home by force

emmanuelewumi:
Na wa, once your money doubles most women will want us to move from a 3 bedroom flat to a duplex or from a duplex to a mansion. They will calculate how the extra funds will be spent on consumptions, even if there nothing to spend on they will create one eg let us give N2 million to the pastor, my father's house needs to be renovated, travelling to America once in a year for vacation would be enough let us increase to twice.

Oga you want tear my belle with laughs

Hahahahaha

RabbiDoracle:
With 24K surpassed, the next hurdle is 25,700.

We have entered the period where any company that releases bad results will even be getting serious bids on the stock.

This bull is from Burundi. (Buru in yoruba means wicked).

Best of luck!

Welcome Sir.

We are ridding it till we get close to Burundi

sellydion:
If you are not a long term holder, remember Hope is not a strategy

The books aren't smiling

His a long-termer

Maybe to benefit from the unbundling

lancee:
Thats a good one ..watch out for those spoilers with heavy load

Tomorrow another day

Tommorrw is another day.

lancee:
Zee and Gtb trying to shake off hands

uba , fbnh zee gtb still can still go further ..morrow go tell

Until above 50%, no shaking of body.

Bargain hunters take note.

OBAGADAFFI:
Since i bought UACN around N5 , i just ignore all the noise and hold.

So you no sell at N9 then and enter back at N6?

ositadima1:
I won leave UACN run but for the last 3 days it has refused to sell at 7.2 even though it closes at 7.2 daily. I bought it at 6.5 though.

UACN may still climb more.

Watch if it's possible, otherwise don't loose your gains.

BULL is peeping

More Bulls on the way

We are making money this year

dunsin125:
I hope it's not too late to join the train of Dangcem and Nestle.

Price of dangcem may go south wards after dividend markdown or continue to go up

Nobody knows what will happen next...

DrAwo:
Bid for 1million units of Caverton sighted...
Shooooo...

Maybe the result is good

Mcy56:
Dangcem: Almost full bid.......................100k is needed to move it up by 10% for today.
Unilever: Full bid since market opens..................100k units needed to move the price.
Nestle: Not relenting...............
Zenith: Making efforts ...................but GT is the barrier here..............
Wapco: Moved up by 85kobo
UBA: 6.05..........................waiting for Access to make the next call......
MTN: Up with N2.50....................still more room to move up? Looking likely.

Weldone madam

We are waiting for more bargain hunting