FCMB Commemorates World Women’s Entrepreneurship Day with Loan Facilities in Ogun State

FCMB SheVentures Ogun State Program

This article is sponsored by the FCMB SheVentures proposition. FCMB SheVentures is empowering female entrepreneurs, helping them build their businesses, and improving the overall success rate of businesses owned or run by women. Please click here to learn more about how FCMB SheVentures can support you and your business.

 

 


In commemoration of this year’s World Women’s Entrepreneurship Day, FCMB SheVentures in collaboration with the Office of the First Lady of Ogun State, has granted zero interest loan facilities to women business owners in Ogun State.

Additionally, the beneficiaries received the opportunity to participate in capacity building initiatives, to ensure they scale up and become positive contributors to the growth and development of the Nigerian economy.

At the presentation event which held on Thursday, November 19, 2020 in Abeokuta, the First Lady of Ogun State, Mrs. Bamidele Abiodun commended FCMB for its commitment to ensuring that female business owners are not left out in the success story of the Nigerian economy.

 

FCMB SheVentures Ogun State Loan FacilitiesSimilarly, the Executive Director, Business Development, FCMB, Mrs. Bukola Smith assured the female entrepreneurs that they can count on FCMB’s continued support as they pursue the growth and profitable expansion of their businesses.

Also present at the event were the Former Deputy Governor of Ogun State, Alhaja Salmot Badru; Former Speaker of the State House of Assembly and Commissioner for Trade and Investment, Mrs. Kikelomo Longe; the Iyalode of Yorubaland, Chief (Mrs.) Alaba Lawson; The Regional Director, FCMB South-West, Mr. Emanuel Comla; and Head, FCMB SheVentures, Mrs. Yetunde Moito.

FCMB Supports Women Led Businesses With The She-Ventures Program

This article is sponsored by the FCMB SheVentures proposition. FCMB SheVentures is empowering female entrepreneurs, helping them build their businesses, and improving the overall success rate of businesses owned or run by women. Please click here to learn more about how FCMB SheVentures can support you and your business.


 

We’ve seen time and time again that we are only going to be able to move forward as a community, if we all use our skills and talents to support each other. 

Over the past three months, several incredible women served as mentors for the FCMB SheVentures Program. These experts shared, connected, and bonded with the fourth cohort of this mentorship program supporting women-led businesses in Nigeria.

FCMB She-Ventures 2020 Mentors

 

Some of the feedback from the mentees, shows how impactful this program was to entrepreneurs across Nigeria.

 

 

 

To learn more about how SheVentures supports the growth and aspirations of Nigerian women in business, visit www.fcmb.com/she-ventures.

When it comes to money, A Little Extra goes a long way

Most of the time, the people we think are extraordinary are actually quite ordinary. The difference in most cases is the discipline and consistency they’ve applied to achieve their goals. This includes millionaires. Rolling your eyes already? Well just listen, I’m going somewhere with this.

The Book “Everyday Millionaires” by Chris Hogan sheds a bit more light on this. While doing the research for this book, Mr. Hogan assessed more than 10,000 people whose net worth was over $1 million, and what was interesting is that most of these people were pretty ordinary folk that applied these two qualities to their money habits.

The outcome of his research was in contradiction to most of the perceptions held by Americans about millionaires. 

These millionaires realised that they could not depend on the government, their employers or their families to attain financial independence.   Click To Tweet

Contrary to popular belief, only 3% of the millionaires he studied had received an inheritance at, or above $1 million. Actually, the vast majority of the millionaires he studied did not get any inheritance at all. It turned out that most of them held ordinary jobs – they were teachers, farmers and lawyers. No fancy titles! No fancy education! Just simple ordinary folk. 

Mr. Hogan found that these “ordinary people” who had built wealth over time had focused on these four things to achieve their financial goals

Taking Responsibility

millionaires

The people who participated in the study were driven by the fact that they are solely in charge of their financial destinies. They realised that they could not depend on the government, their employers or their families to attain financial independence.  

Practicing Intentionality

This category of people recognized that how they live and the decisions they make daily have a direct impact on their financial independence. As such, 94% of them lived below their means and 95% of them planned ahead and saved for big expenses compared to 67% of the general population. 

Being Goal-Oriented

Millionaires

The men and women who participated in this study had a vision of their future lives and consequently put the necessary plans in place to get them to this desired future. This vision helped to steer them everyday, to keep them working towards their goals. This vision restrains them from buying the next shiny object that comes into the market. 

Being Consistent 

Consistency is what brings it all together. Day by day, month on month, year on year the participants in the study invested a portion of their income, saved a portion of their income and stuck to the budgets they created. They put in the relevant mechanisms to ensure this happens on a monthly basis. 

Seems easy, doesn’t it?

It’s easy to say that this is an American based study and is therefore not applicable in the African context.  But in my opinion, this could not be further from the truth. I am sure that each of us knows or has heard of ordinary people who hold ordinary jobs in our own communities, yet have excelled financially.

To drive the point even further home, some of these people we know or have heard of, do not have a formal education. 

Invest only in things you understand. Click To Tweet

Isn’t it amazing what discipline, consistency and commitment can do for your financial goals? We unnecessarily complicate financial matters by getting entangled in jargon and “big investments” we do not understand. In the quest to obtain wealth, some of us even end up getting caught up in ponzi schemes. 

You can start small. Develop a budget. Live within your means. Make sure you save a portion of the income you make. Invest only in things you understand. Have a financial plan. 

Just a little extra discipline, goes a long way!

“The difference between ordinary and extraordinary is that little extra."- Jimmy Johnson. Click To Tweet

SAFE SPACE WEBINAR WITH TOLULOPE FABOYEDE: HOW TO INVEST (SEP 18)

It’s time to get your finances in check!

So you’re one of the people who finds themselves drifting off thinking about how to build wealth with their monthly income? Don’t just sit there daydreaming, here’s a chance to actually do something about it!

Or maybe you think you need to have a ton of money to start investing, think again. This and other investment myths are some of the topics we’ll be covering in our webinar titled Safe Space – A No BS Guide on How to Invest..

On September 18, 2020 at 5PM WAT/ 6PM CAT/ 7PM EAT, Tolulope Faboyede of FSDH Asset Management will be taking you through everything you need to know to build wealth and invest. What’s more? You’ll be able to get started after the class!

Learn how to invest and build wealth with Tolulope Faboyede of FSDH Asset Management! Join us on September 18 at 5PM WAT/ 6PM CAT/ 7PM EAT Click this link to register: bit.ly/safespacefinance Click To Tweet

Here are some of the topics we’ll cover at the webinar:

  • How to design and execute an investment plan
  • What to look out for when building your investment portfolio
  • How to evaluate your financial situation
  • Compounding interest: What it is and how to evaluate it
  • Common myths about investing

Register below to access the webinar!

Webinar details:

Date: Friday, September 18, 2020

Time: 5PM WAT/ 6PM CAT/ 7PM EAT

Location: Click here to register for the webinar on Zoom

About Tolulope

Tolulope Faboyede is a Business Development and Wealth Management expert at FSDH Asset Management Limited. She holds a Bachelor of Science in Economics from the University of Lagos and has completed a CFA Institute Investment Foundations Program. Tolu has over 12 years experience in the Nigerian Financial markets and has attended various professional courses and training in Portfolio and Wealth Management. She has worked with several individuals and companies to grow their wealth.Tolu is passionate about providing financial literacy to both individuals and corporate organisations.



5 Reasons Why Your Budget Is Not Working and How You Can Fix It.

Sis, let’s be real. Since you created that budget, you probably haven’t used it more than once or twice. If you are like me, you sat down when you were extra broke and created that “wonderful” budget that accounted for every single thing- including chewing gum. Once you got a little money, you forgot all about it.

I know it is tempting to spend. Most of us have the spending bug somewhere in our systems but we must learn to control it, especially now that Ms. Rona is out and about. 

Here are 5 budget mistakes and tips on how you can fix them.

You made it too generic

Budget mistakes

So, remember how you went online to download xyz’s budgeting template and never bothered to make it suit your own spending habits? Yeah, this is a common budget mistake. On a general level, we may have the same basic needs- food, housing, transport- but Akosua from Ghana’s expenses can never be the same as Sheryl’s from Houston. 

You have to modify your budget according to your location, lifestyle, and personal needs. Should you be budgeting for a gym membership when you work out at home right now? 

You do not have your day planned

Budget mistakes, Tamar Braxton

“What is the connection between planning my day and budgeting my expenses?” You may be wondering. 

Planning your day helps you recall those activities that will eventually require you to spend. Create a daily plan around work, chores, cooking, and transport and see if that impacts your budgeting.

Your budget is set in stone

Ah, this one. I’ve been guilty of this too many times to count. I would piously create the most frugal budget known to man and then wonder why I was so miserable after. See babe, budgeting like every other planning endeavour, ought to make your life simpler. Create a realistic budget that factors in enjoyment. That aspect of your life is hella essential too!

The danger of creating a frugal budget is that at 2 AM one day, you may snap and treat yourself to natural hair products you don’t even need. At the beginning of each month,  add a treat to your budget- a book you want to read, fancy skincare stuff, bralettes, etc. Pick one thing and treat yo self!

Budgeting like every other planning endeavour, ought to make your life simpler. Create a realistic budget that factors in enjoyment. That aspect of your life is hella essential too. Click To Tweet

You have not adjusted your budget in forever

You still have the same budget since last year and you wonder why it is not working for you. If you work from home or you are bored in the house, bored in the house, bored, I am guessing that certain expenses are on pause while others (like grocery expenses) are being incurred. 

If this is true for you, then you obviously should not budget the same amount that you did for transportation last year. Evaluate your budget at the beginning of each month to see if it is realistic to your current lifestyle. 

You have barely used it since you created it

This is another common budget mistake you could be making. What is the use of having a budget if you won’t use it?

If you barely use the budget after creating it, consider setting a good ol’ reminder for checking your budget. And girl, when that alarm goes off, make sure you check, okay?


Join our community of young, ambitious African women to step up your budgeting AND money game! 

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).

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 Click To Tweet

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.

Here’s how to switch up your money management style!

[adrotate banner=”4″]

Much of our anxiety stems from the fact that we just don’t know what's going on with our money Click To Tweet

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.


money management

Money means the ability to uplift - Carol Bouwer Click To Tweet

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.

If I'm not mindful of what I'm spending my money on, I don't deserve a cent of it- Carol Bouwer Click To Tweet

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.


money management

Be honest with yourself and those who need your financial support - Nicolette Mashile Click To Tweet

Nicolette Mashile is a social entrepreneur, property investor and broadcast media personality. She is passionate about people advancement and development. You may recognize her from her popular Financial Literacy Vlog and talks. She is also a communicator by profession.

Is there a specific event/lesson that has shaped how you relate to your money?

Yes. When I was buying my first property, I didn’t know that an Offer To Purchase was legally binding. As a result, I signed for a property well out of my means. I had to fight the bank to retract a home loan of over 30 years which had been approved.

The loan had been generated through a Bond Originator, who misrepresented my expenses and understated them. I ended up paying over thousands in lawyer fees. I eventually settled the issue at the cost of the money I had saved as a deposit. That day I learnt that it is very expensive to be financially illiterate.

What habit have you formed, or what trait do you possess, that you believe helps you with your finances?

Honesty, discipline and I have let go of FOMO. I used to what everything, what to go everywhere because I convinced myself that I could afford it. But I was refusing to be honest with myself whereby finances were concerned.

What is a small action/habit/idea that people can take up, which you believe could totally change our relationship with money?

Paying themselves first. Negotiating their salaries and knowing how much they actually need so that they can save 30% of their salaries. Most people negotiate just a little bit more than what they are currently getting forgetting the value of money changes over each year.

Do you have any advice on how to avoid over-committing yourself financially to family and friends?

Be honest with yourself and those who need your financial support, then budget for them at all times. Stick with what you allocate to them and don’t budge.

Save for emergencies because its Murphy’s law, once you save an amount that is accessible there will always be a situation that rises to the occasion that needs that money

iCreate Africa, building skills for the next generation of Nigerian youths.

Held in one of the vibrant cities of Nigeria, Lagos, by iCreate Africa, the iCreate Skill Fest is Africa’s biggest skills competition with over 2,500 people gathered to experience 80 skilled candidates compete at the National finals.

What went down at iCreate Skill Fest!

The two- day event featured 14 skilled trades varying from Construction, Creative Art & fashion, Technology, Educational Training Conference, the iCreate Skills Awards, and lots more. Out of the contestants, 13 ladies competed in cooking, fashion, art, carpentry, barbing and more, of which Mojisola Akin-Ademola emerged the only female gold medalist and Champion (top in her category, fashion).

As a way of curbing unemployment and empowering youth, the iCreate Skills competition is an innovative strategy designed to promote skills-trades professions amongst the youth as a means to bridge the skill gap, thereby boosting the economy.

The iCreate Skill Fest partnered with GIZ SKYE, Robert Bosch Nigeria Limited, Sterling Bank Plc, AGR Ltd, Siemens Nigeria Ltd., The Fashion Academy Abuja, Trace, House of Tara, Industrial Training Fund (ITF), Society of Nigerian Artists, Soundcity, ULDA, Pedini, amongst many others.

The iCreate Skills Fest 2019 champions!

Emerging top in their category are, Ibraheem Ridwan (Carpentry), Christopher Olaniyi (Tiling), Miracle Olasoyin (robotics), Mojisola Akin-Ademola (Fashion), Ifedayo Emmanuel Bello (cooking), Emmanuel Abanobi (make-up), Kelvin Hassan (Barbing),

Oluwaseun Akanbi (Electrical installations), Chima Solomon (plumbing), Leonard Manzo (automobile technology), Toheeb Ogunbiyi (Website development), Precious Audu (graphic design), Lot Madaki (leatherworks), and Oluwaseun Akinlo (Art).

The Idea behind iCreate Africa

The Founder/CEO iCreate Africa, Bright Jaja aims to use iCreate Africa to create five million jobs in five years. Bright Jaja aims to rebrand the general perception of skilled workers and place more importance on technical and vocational skills through the skills fest. 

iCreate Skills Fest is a platform that promotes skills excellence, showcases skills standards and careers, demonstrates benchmarks of excellence in teaching and learning and creates interest in public sector agencies and private organizations to invest in skills development. Winners of the iCreate Skills Fest 2019 receive technical training from various partners.

"Nigeria is full of many talented, resilient and entrepreneurial young ladies but the society is not giving enough support to promote their endeavors." – Anne Dirkling, Director of partnership, iCreate Africa. Click To Tweet

The platform iCreate Africa has created for young female artisans, is paramount for gender equality and inclusive economic growth in the continent.

After recording huge success last year by hosting 4 competitions across four regions, directly empowering 180 skill trade professionals with startup capital and equipment.

iCreate Africa is creating a skills ecosystem and projecting skills in the mainstream, they are most convinced that the concept is a viable solution to curb youth unemployment and prepare the youth for the future of work.

Skills are the future of Nigeria! iCreate Africa urges the public to invest in skills and target the next generation of Nigerian youths. These youths will power the economy, across the world.

iCreate Africa,
Skills change lives.

This woman-led startup bets it can help African businesses grow faster

As Sub-saharan Africa lags behind in the World Bank’s 2020 ease of doing business report, one woman-led startup thinks it can help entrepreneurs grow their companies in this tough environment.

After years of mentoring startups and running businesses in Ghana and Nigeria, Munachim Chukwuma started IB Consulting in February 2019 to help founders overcome operating challenges she also had to face as a young entrepreneur.

Munachim and her team believe they’ve found the recipe to help African business grow quickly with their innovative and affordable service model.


"Never have a business with NO business structure" #RedFlag – @consultingibobo Click To Tweet

Why Nigerian startups are struggling to grow.

According to experts from Harvard University, startups that want to stand the test of time must learn new ways of operating and behaving. This is difficult for a lot of entrepreneurs because these new ways tend to be completely different from their start-up roots.

Most startups struggle to grow and scale either because they do not know how or lack the proper structure and strategy. This is where we come in.

Munachim Chukwuma – Founder, Ibobo Consulting

IB Consulting believes that African entrepreneurs struggling to grow their businesses must realize they are in a different phase of their business life cycle, and therefore must change.

IB Consulting’s growth recipe for startups.

To help entrepreneurs struggling to scale, Munachim and her partners created a service model that combines strategy consultation, negotiation, and content creation.

IB Consulting bets its 3 service tentpoles are what entrepreneurs need to grow faster despite the difficulty of doing business in Africa.

We decided to focus on strategy consultation, negotiations and content creation as a company because we realized most of the challenges most businesses face in today’s society are tied to those three areas in one way or another.

Munachim Chukwuma – Founder, Ibobo Consulting

In addition to its unique service model, IB Consulting promises clients efficiency, personalization, and great service.

Why you should watch out for IB Consulting.

In less than a year, IB Consulting is proving it is not just all talk. The company reports that since February, it has helped over 10 business owners rebuild their structures and execute action growth plans.

It’s also not just about the money for this company this woman-led company. They have done some pro bono work for new entrepreneurs who could not afford to pay for some of our services.

In 2020, the company plans to expand aggressively to reach, help and educate help businesses across Africa.

We intend to grow over the next year of business and reach more people across the continent, as we also reinvent our business and launch more products that can meet the needs of our prospective clients.

Munachim Chukwuma – Founder, Ibobo Consulting

Visit https://iboboconsulting.com/ for more information on how IB Consulting can help your business.


Sponsored Post.

Want to Join an Investors Club With a Low Budget? Here’s what you need to know

Ever heard of the term Plutophobia?

Plutophobia is derived from Pluto (wealth) and Phobia (fear) is the fear of wealth.

Yes, it is actually a thing that there are people who are afraid of being rich. It sounds funny, I even feel like laughing out loud as I type this, but looking at it deeply makes it not so funny.

Like, how can someone be afraid of being wealthy when we all know that money answereth all things? (We are well aware of immaterial wealth but for the sake of this article, all mention of wealth refer to money and all the riches that come with it).

There is also something called Chrometophobia. Chermato (money) and Phobia (fear) which is the fear of money.

The key triggers of phobias are external events which might be heredity or life experiences.

You might have heard time and time again that investment is not for the rich only. But then, you don’t know how exactly to invest with a low budget.

What if I told you that you do not need huge amounts of money to invest in portfolios that can give you beautiful rewards.

All you need is to have the right information and go where the opportunities abound.

Before you invest, first decide if you are willing to invest either for a short term or a long term.

This will enable you to look in the right places, thereby saving time and being decisive from the onset.

Pay attention to the following before your first investment:

  • Beware of “too good to be true” offers. Examples are investments that offer high returns just after two days.
  • Understand the risks that come with the investment you are taking up.
  • Do your own proper research.
  • Always get the second opinion from friend, family or an investments expert.
  • Ensure that there is physical paperwork stating all the terms of investment.

Now that you have the information on what to do before you invest. Here are some investment opportunities you can start investing with as low as N5,000 monthly:

Image result for no way black woman gifs
  • Mutual funds
  • Money market funds
  • Real estates
  • Treasury bills via i-invest app
  • Agriculture
  • Invest in a friend or family’s business with properly drafted contracts
  • There are also private investment opportunities where you get up to 10% monthly on commitments from as low as N50,000

Remember that you won’t get rich by hoarding money in your savings account or leaving them in a piggy bank. It is by investing.

A change in mindset would help you navigate away from societal misconceptions about being wealthy as a woman.

It would also help you overcome the fear of charging your worth for services you render or the good you sell. And as time goes on, you will see yourself making the money that you were long due to make, but afraid to ask for.

Like I mentioned earlier, decide on the type of investment you want and why you want it then go for a suitable opportunity.

Now that you are well informed about investments and how it can help you become wealthy, do you still hold any reservations about it?


How are you improving your spending habits this month? Click here to join the SLA #SecureTheBag challenge.