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:

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  • 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.

If you want to achieve your goals, stop focusing on them

A lot of us have set out the goals that we want to achieve in 2018. Whether it’s business, family life, financial, career or social goals we have set them out and we expect to achieve them by 31st December 2018. How successful have you been in the past? Personally, at the end of the year, I find I have achieved 50% or less of what I set for myself to achieve. So what am I doing wrong?. I stumble across an interesting TED talk by Reggie Rivers, his first bold statement was that “IF YOU WANT TO ACHIEVE GOALS STOP FOCUSING ON THEM!”  This caught my interest as it goes against what I had learned so far, I listened to the entire presentation. Break your goals into tasks that'll bring you closer to the goal. Click To Tweet Reggie broke down that focusing on the goal makes you unable to use your energy on actually achieving the Goal. Moreover, more often than not you are not in control of the outcome and are only in control of your behavior and reactions. We all want to make money in our business by the end of the year, but you can’t force customers to buy from you, you can make the product as good as possible, yes, but you really can’t guarantee the outcome i.e. profits.

 For instance, if you want to lose weight you end up weighing yourself every week. Of course, those who struggle with weight like I, realize that this does not lead anywhere fast. In fact, you end up frustrated and abandon the whole weight loss journey. You are focusing on the outcome. He suggests that you should focus on WHAT IS IN YOUR CONTROL, your behavior. Hmm… what does this mean? He says that you should focus on your behavior, which you are in control of, to achieve your goal. Focus on what's in your control - your behaviour Click To Tweet Assume you are able to achieve the goal and perform the tasks to achieve it. In the weight loss scenario, you should focus on what you are eating, how much you exercise and what you drink. We need to break the goal into smaller tasks that we can perform easily and fast while working towards the main huge ambitious goal. Reggie suggests that you should have tasks that you can perform TODAY, TOMORROW and THIS WEEK. I like the idea that you break up your big goal into smaller manageable bits. What does this achieve?
  • You remain motivated as you achieve something every day and week. Every small step moves you closer to the big goal.
  • You can dream big and break the large goal into smaller action points and you end up achieving an ambitious goal. This works even when you need to save or invest. This I can testify to.
  • You keep on revising your plan every so often and thereby are able to make necessary changes to move you closer to the goal. This is particularly helpful in business so that where you can change a strategy that does not work before you lose too much money.
  • It helps you be disciplined on simple tasks and eventually bigger ones. This is a way to get rid of bad habits like procrastinating. If you are accountable on a daily and weekly basis you notice your weakness and work on it more often to improve yourself.
  • It actually keeps you on track as you end up spending the necessary time, without getting distracted, to achieve your eventual goal. Normally when a task is huge we are quick to allow ourselves to be distracted away from it.
In conclusion, I think this is a great concept to adopt in business and generally in life, deal with what you are in control of. Forget what is not in your control because you can’t change it anyway.
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Webinar with Ada Ijara: What you need to know about a private trust (Jun 7)

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According to the researchers and economic experts, Africa is getting richer by the minute but does it feel that way in your purse?

That’s right! Things are tough out there. It’s so bad, some of our Nigerian comrades have had to take drastic measures just to survive. 

While our immediate reaction was definitely to run and cry at that depressing bowl of rice, we know that tough times can provide a great foundation for a better tomorrow. This is the perfect time to get serious about your finances and figure out how to turn your current struggles into future success. It doesn’t matter how little you think you’re making today, you can still start to invest and work your way towards financial independence.

On Tuesday June 7th we hosted a webinar with financial advisor Ada Ijara where she introduced us to a private trust, an investment vehicle that can help young women reach their financial goals faster than a traditional savings account.

Some of the topics we covered:

  • How a private trust is different than a regular savings accounts
  • How a private trust can help you super charge your savings
  • As a young woman, the major areas you should be investing in
  • Ways to make sure your savings and investments are safe

 

About Ada:

Adaku Ijara is a Senior Trust Officer at United Capital Trustees Limited – a member of the United Capital Trustees Limited a member of the United Capital Group, with focus on trust administration and investment management services. She possesses over 12 years corporate experience across private banking, business development, legal compliance and advisory roles as well as private trust. She has a proven track record of excellence in the execution of corporate strategies, customer & portfolio management and legal pre-acquisition due diligence associated with trust accounts.

Adaku has a law degree from the University of Nigeria, Enugu Campus. She also has an LLM in Corporate Governance from the University of Manchester, UK and was called to the Nigeria Bar in 2003. She is a member of the Nigerian Bar Association, Institute of Public Diplomacy & Management, Women in Business Management & Public Service.

You can reach out to her directly at ada.ijara(at)unitedcapitalplcgroup.com.