Get support for your kids’ education through the 2020 WEMA Educational Award
[adrotate banner=”4″] As a parent or guardian, paying for your kids’ education can be a big deal especially with everything going on right now. We need all the help we can get. There’s nothing like a bank that has your back, and that’s why Wema Bank is here to help! Wema Bank, Nigeria’s leading innovative bank, is set to award 20 school children with a N50,000 School Support Fund in the 2020 Wema Educational Award. The annual award is available to holders of the Bank’s Royal Kiddies Account and holds in September, 2020. How can your kids qualify? Parents and guardians are to open a Royal Kiddies Account in any Wema Bank branch close to them with a minimum of N100,000 before September 12, 2020. If you’re a parent or guardian who already has a Royal Kiddies Account, you can top up your balance to N100,000 before the deadline to also qualify. The winning accounts will be notified of their reward after the final selection on September 18, 2020. The best way to save for your kids education! The Royal Kiddies account is a savings account opened by parents and guardians to help you save up for your children’s education. As a Royal Kiddies account holder, your child gets to enjoy a competitive interest rate of 4.75% on savings, an E-Purse for electronic transactions and many other incentives including an opportunity to win the annual Wema Educational Award! Dotun Ifebogun, the Divisional Head, Retail Business, Wema Bank says, “It is our way of supporting parents in educating their children and we are happy with the impact we have made in the past years. “This year, education has been greatly hampered by the breakout of the COVID-19 pandemic and we hope this will go a long way to support this year’s winners as they settle into the new normal. We also hope to use this gesture to help inculcate a savings culture into children and prepare them for financial freedom early.” You heard it here first. This is your chance to get the support you need for your kids’ education so don’t wait up!
4 Ways You’re Losing Money Without Realising It
[adrotate banner=”4″] Money is such an inexhaustible topic – we talk about earning it, investing it, spending it, and even sometimes losing it. We’re usually focused on the first three and barely pay any attention to the likely ways we have been losing cash. Most of us don’t have trust funds waiting for us, so every naira counts. Being on the lookout for money-sucking expenses can go a long way in increasing your disposable income. I’m going to let you in on things you’re doing too much of or not doing at all that could cost you some dollar bills (or whatever currency you spend). [bctt tweet=”Tracking your expense schedule, asking for a discount and buying items in bulk can help save up cash and thereby reducing the risk of losing money – @adeyojuwon” username=”SheLeadsAfrica”] 1. Bank Charges It’s so funny that the banks are starting to do the exact opposite of what they’re meant to be doing- helping people save money. The Fix You probably have more than one bank account/debit card. Each account attracts individual maintenance costs. A simple solution to ridiculous bank charges is trying as much as possible to have one savings account and one debit card. This will help eliminate charges that may arise from owning multiple accounts. You can reduce constant cash transactions and erase the need for unnecessary bank fees by having a budget that’s restricted to how much you’ll need for a week. 2. Delay in Paying Off Debts While taking a loan isn’t a big deal, delaying pay-off is quite a big deal. Especially when it has interest attached to it. Interest accumulates over time so delaying your debt pay-off inevitably increases the amount you’ll pay eventually. This means you’re gradually losing money. The Fix Once you have an inflow of cash probably due to holiday bonus or a salary raise, it is advisable you pay off your debt as soon as possible. This could give you a little extra to spend on other things and potentially save you a lot in interest payments. 3. Avoiding Negotiation Another money-draining factor that might not have ranked high on your list is negotiation. A lot of market vendors on this side of the world rarely quote the actual prices of their products. Most of the time, you’re expected to bargain and beat down the prices a little bit more. This negotiation rule also applies to the professional world. You’re expected to negotiate your salary and not simply accept what you’re initially offered when you apply for a new job. According to a paper by Harvard Business School, women are most likely to agree to the first offer on the table and lose money in the process, as well as better chances for career growth. It is time we change the narrative. The Fix Weighing other options available to you by knowing what prices other vendors are offering will go a long way when it comes to saving money. This also applies to knowing what other employees earn before you take a new job. This similarly applies to online stores, when I was buying my new phone, I checked a couple of online and physical stores to get the best price and avoid being overcharged. Always remember that avoiding negotiation comes with a price! 4. Subscriptions Technology comes at a cost. There is a cost attached to watching an endless stream of movies and listening to your favourite music. There’s a long list of other subscriptions- magazines & newsletters, fitness groups, diet plans and a whole lot more. It’s easy to forget what you’re subscribed to when payments are done automatically. The Fix You should only subscribe to plans you use regularly. This will help you avoid wasting money on plans you don’t get the most from. Certain subscriptions can be done with a group of people to save money on the total cost. Other significant ways you might be losing money includes wasting food, cancelling your Uber or Taxify rides, and impulsive spending. Interested in contributing for She Leads Africa? Click here.
Want to map out your own career path? Here’s how!
[adrotate banner=”4″] Think about a career as a personal journey. How person ‘A’ makes it work, is never the same as how person ‘B’ makes it work. In an industry with hundreds of skilled talent coupled with the rapidly evolving times, how can you craft your own path and remain relevant? Now more than ever, is the time to be intentional about what you bring to the table; what makes you unforgettable? Case in point- the career journey of popular Nigerian Media Personality, Toke Makinwa – she went from making the big move from banking to being the media star we know today. The key to her progress has been owning her unique career journey. How do you map out a career path tailored just for you? The three P’s for writing your script are Purpose, Place, and Plan! No purpose means no perspective! The secret to a knock-out career is a personal vision. What is your ‘why’ and how can the world benefit from this? Quickly identifying this helps you to know right where you fit in. Think about it this way: without ‘you’ there is no career. So, authenticity is required to create or find the right opportunities for you. This is what will enable you to be successful irrespective of the dynamism of your sector. So, what if machines took over your sector, how would you evolve to stand the test of times? The answer is ‘you’. I have always envisioned a world with more women who are relevant and living their authentic lives. This is my personal vision and it translates to the kind of career choices I have made. Through my various roles as writer, administrator and civil leader, my purpose has not changed. Knowing your place means there is a vacuum just for you What are you able to bring to the table? Remember it is all about you, and how you can make everything work in your favour. What has kept Ms. Tyra Banks relevant until now, is mapping out a career path that only she can execute. What is your place in the industry you are in? Where can you work or not work? The path becomes even narrower. It takes consistency to find a niche or establish a track record, but when you can identify what exactly it is you bring to the table as well as where you can function in terms of delivering your personal vision? That’s when you know you are off to a great start. In my case, after identifying how I could add value to the female audience, I developed my niche as a columnist on a lifestyle blog for women. I created a column for aspirational women; for daily motivation and personal development. This was how I started out, which in turn enabled me to learn a lot about myself, and evolve. I have built my career on this foundation. Draw up a plan for you or go home when their plan changes I mentioned Tyra Banks earlier. Actually, Tyra was forced to make sustainable career plans when her industry rejected her. If she took the list of designers who said they couldn’t book her anymore and admitted that she was done, she wouldn’t be who she is today. Instead, she rewrote her narrative by creating opportunities for herself. Having found a purpose and a place, then there has to be a great plan to keep you relevant. Like a custom-made strategy just for you. In formulating a plan, ask yourself the following questions: What is the right network for me? Where is the right environment? How can I gain more confidence and experience? What is crucial to remaining relevant? In answering these questions, you will be able to craft a career strategy for yourself. To wrap this up… I have been able to identify opportunities that re-enforce my competencies, which in turn have helped me evolve in my career. This consistency has helped me to learn more about myself, and envision where I would like to be in years to come. I first started out as a content creator for women, but I have evolved to channel my passion of empowering women, into development work and not just media. As a key-employee in an organization for women, I have first-hand experience in helping women stay relevant. If you are hoping for a Toke Makinwa or Tyra Banks type of evolution, then you need to put yourself at the centre of your career. Not the money, or being on fleek, or the people you are rolling with. Think hard to make the right decisions. Long-standing personal brands are birthed from consistency. How have you mapped your career path? Let us know more about you and your story here.
Overwhelmed? Here’s How to Succeed in these Times
For a start babe, how are you feeling today? I know that these past few months have been challenging. Business sales are declining, pay cuts at work, bank accounts are turning red and being indoors is getting the best of us. For some of us, thinking of how to succeed is the last thing on our minds. We’re more about how to survive. There is SO MUCH going on and I bet we are all looking for ways to stay sane during and after this pandemic. But the truth is, bags still need to be secured and money has to be made- pandemic or not! So here are a few tips on how you can succeed in the new norm. 1. Stop feeling sorry for yourself If you really want to succeed, you will find ways to change where you are right now. Self-pity won’t take you there. If your mood is not right, take a brief meditation break or dance to your favourite song. Shake off that bad energy because better days are here! 2. Create a gratitude journal Get your notepad and list out a few things you’re grateful for today. Think about your family, friends, things that went well, the growth you’ve experienced and any other positive parts of your life no matter how big or small. 3. Never stop marketing yourself If you’re a business owner, start treating every piece of communication you send out as another chance to market your product. Show your best pieces and update that Instagram account with your latest products or discounts. Most importantly, remind family and friends about your business. 4. Don’t be stagnant We’ve been forced to conform to changes that we have little or no control over. If you’re thinking about how to succeed, this is the time for you to re-evaluate your business goals in relation to the current economy. Find ways to thrive girl! The world is evolving and so should you. Don’t just exist. Live. Explore. Challenge yourself. 5. Keep the vision alive! You need to have a vision of who you want to be. Succeeding in the new norm means breaking through the hard shells to come out renewed and rejuvenated. It means doing it your own way and making the best out of everything. To build that amazing business or career, you need access to resources that can help you. She Leads Africa has consistently delivered valuable content and experiences for women to live their best lives over the years. Where did the pandemic hit you the most? A decline in business sales, a pay cut or you’ve exhausted your savings. Whatever it is, you need a strong support system to push you to exceed limits and take on opportunities you never thought you would. These are some benefits of being a part of the SLA community. Grab your squad and join the train of successful women in the 21st century. Join the SLA community!
Here’s how to switch up your money management style!
[adrotate banner=”4″] [bctt tweet=”Much of our anxiety stems from the fact that we just don’t know what’s going on with our money” username=”SheLeadsAfrica”] Have you ever interrogated your feelings about money? How would you define your relationship with money management; comfortable, in control, dysfunctional? Even with solid financial advice, some people still feel a level of anxiety around personal financial management. Sadly the topic of money is still viewed by some as ‘the last taboo’, and as a result, many of the attitudes we have towards it go unexplored. As budding #MotherlandMoguls, building a healthy mindset around money management should be a priority. Here are a few tips to help you to make peace with your bank balance, manage your personal finances and develop a healthy money mindset. Determine your ‘money personality’ A useful place to start is to try and understand how you instinctively relate to it. Similar to taking a regular personality test, this will help you to understand some of your predispositions toward money management. You can find a whole bunch of free ‘money personality’ tests here. Keep good records, make good plans Recognizing your financial patterns and setting financial goals is the key to building a healthy relationship with your money. Much of our anxiety stems from the fact that we truly just don’t know what is going on with our money. Sound daunting? Don’t worry, we are here to simplify the struggle. Finance guru and friend of SLA Samke Ndlovu Ngwenya put together this worksheet to help you think through your goals, and keep track of your personal financial management. While you are doing this, take a look back at money management mistakes, or successes you have made and look out for patterns and lessons. Figure out your conditioning We all have a certain level of conditioning when it comes to money which has been proven to affect how we relate to it. For example, if you sincerely believe you deserve to make money, and that you are able to do so, this conditioning is considered positive. It can also be negative and limiting, for example, thinking about money with fear or scarcity. This conditioning is the filter through which you interact with your money. Money coach Lynette Khalfani-Cox says, “You have to ask: what falsehoods and ideas am I believing that are actually sabotaging my efforts, or keeping me from fulfilling my potential?” Work to change these ideas. You could even try out money affirmations if that’s your thing. To help you out with all the serious introspection you are about to do, I caught up with two savvy businesswomen. They gave me some insight into how a successful entrepreneur relates to their money. [bctt tweet=”Money means the ability to uplift – Carol Bouwer” username=”SheLeadsAfrica”] Carol Bouwer is the Founder and CEO of Carol Bouwer (CB) Productions. This pioneering businesswoman is a committed champion of women. Her company PB Productions is behind The Mbokodo Awards which celebrate the work of South African women, as well as The African Odyssey experience. What does money mean to you? For anyone with an entrepreneurial spirit and a desire to be part of shaping our community for the future- money gives you the ability to uplift. Materially and psychologically- money gives you the opportunity to create employment and empower others. It gives you the ability to inspire others to see what results could be possible if they apply the same level of discipline. Money is not the goal but it helps you achieve the goal. Is there a specific event/lesson that has shaped how you relate to your money? Losing it young. Some of the mistakes I made with money management as a youngster have been the greatest gifts in my financial life. The lessons are etched in my mind so they can never be repeated. My big thing with this as in everything in life- don’t lose sleep and lose the lesson- lose the former and gain the latter at all times! What do you wish you knew about money management when you received your first salary/ paycheque? Budgeting! I had a whole list of needs and wants but lacked the wisdom to differentiate between the two. To this day I remain grateful for being raised by an “interfering mom”… many of the mistakes I could have made did not happen thanks to her wise interventions. What habit have you formed, or what trait do you possess, that you believe helps you with your finances? Sobriety and respect. This applies to finances and many other aspects of life. It is easy to be impulsive but the most important trait one requires is respecting the work that goes into building one’s wealth. Being mindful of the energy you put into making every cent is what makes you more discerning about the choices you make when parting with it. Mindless spending is sometimes unavoidable in our youth but in this day, if I am not mindful of what I am spending my money on then I don’t deserve a cent of it. [bctt tweet=”If I’m not mindful of what I’m spending my money on, I don’t deserve a cent of it- Carol Bouwer” via=”no”] Where do you go to get sound financial advice? I could tell you to get a financial adviser or acquire financial planning services but I am not one to say that. My answer is, go internal. You inherently know what to do. You had the wisdom to acquire it, trust in your wisdom to grow it. Read and study the markets. Even when you go to your broker, ensure you are not solely an audience but participate. This is even more important for times when there are losses. It allows you to feel you made empowered and informed choices rather than blaming those to whom you hand your money over. [bctt tweet=”Be honest with yourself and those who need your financial support – Nicolette Mashile” username=”SheLeadsAfrica”] Nicolette Mashile is a social entrepreneur, property investor