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! 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.
Webinar with FBNQUEST ASSET MANAGEMENT: The balancing act – managing debt and building long term wealth (Oct 11)
“Staying out of debt is staying out of danger”. We don’t remember who said this, but its true! Not all of us make six figures today, and even when we try hard to maintain financial discipline, this economy sometimes makes it hard to stay out of debt or even pay what we currently owe. If you want to walk in financial freedom, it’s important for you to have a plan on how to manage your finance effectively and tackle your debts. Most importantly, you need to make sure you’re not uncomfortable around your friends if they have RIRI’s song as their ringtone everytime y’all are hanging out. In our previous financial planning webinar’s, we taught you How to make your first investment and how to Save and slay. Now, it’s time to go in deeper as we teach you how to improve your finances by managing your debts and building long-term wealth for yourself. She Leads Africa, in partnership with FBNQuest Asset Management is inviting you to a 45-minute webinar with skilled wealth advisor and financial planner – Emmanuella Ekhaguere, on Thursday, October 11th, 2018 at 3 PM WAT. Emmanuella will be giving some tips on how to balance your finances, how to manage your debts better and how to build long-term wealth for yourself. [bctt tweet=”Join SLA & @FBNQuest for a webinar on October 11th at 3 pm to learn how to manage your debts, build long-term wealth for yourself and how to balance both! ” via=”no”] Some of the topics we’ll cover: Understanding financial fitness and measures Managing your cash flow, budget and time value of money Top 10 ways to live a debt free life. Webinar details: Date: Thursday, October 11th, 2018 Time: 3PM Lagos // 4PM Joburg // 5PM Nairobi Location: We’ll send you the link to join the session once you sign up! Watch the webinar here: About Emmanuella Emmanuella Ekhaguere is Investment Advisor with at FBNQuest Merchant Bank, a subsidiary of FBN Holdings Plc. She has over 15 years of Agricultural banking and financial planning experience from various Financial Service Institutions. Emmanuella started her career at Kakawa Discount house Limited as a Client Relationship Officer. She later moved to Oceanic Bank (now Ecobank Nigeria). In deepening her passion and experience in Wealth and Investment Banking, Emmanuella joined Metro Capital Advisory Group in 2008. She has an MBA from Aston Business School Birmingham, United Kingdom, and is a certified financial Planner (CFP), from Florida State University (FSU) FBNQuest Asset Management is a subsidiary of FBNQuest Merchant Bank, one of the strongest and most dependable financial groups in Africa. They work with individual and institutional investors to provide a strategy best suited to your investment goals and portfolios, from mutual funds to liquidity management etc.
Webinar with FBNQUEST ASSET MANAGEMENT: How to Save and Slay (Aug 3)
How exactly do you indulge in sipping champagne on a beer budget? You gon’ learn today! First, we’ve taught you How to make your first investment, now its time to learn how to save and SLAY simultaneously. Saving money may sound like one of the hardest things to do when it comes to your finances especially if your income isn’t breaking the bank. But hey, you only need as much as you have right now to save! If you’re wondering how to save money without your slay mode depreciating, then this webinar is for you. SLA in partnership with FBNQuest Asset Management is inviting you to a 45-minute webinar with skilled wealth advisor and financial planner – Emmanuella Ekhaguere, on Friday, August 3rd, 2018. Emmanuella will be giving some tips on how you can to start planning and investing for your future with your current income. [bctt tweet=”Join SLA & @FBNQuest for a webinar on August 3rd to learn how to save and slay.” username=”SheLeadsAfrica”] Some of the topics we’ll cover: Understanding the psychology of money Living your best life through personal finance management Saving hacks for motherland moguls – daily, monthly and long-term Getting S.M.A.R.T about goal settings and how to achieve them Watch Video here: About Emmanuella Emmanuella Ekhaguere is Investment Advisor with at FBNQuest Merchant Bank, a subsidiary of FBN Holdings Plc. She has over 15 years of Agricultural banking and financial planning experience from various Financial Service Institutions. Emmanuella started her career at Kakawa Discount house Limited as a Client Relationship Officer. She later moved to Oceanic Bank (now Ecobank Nigeria). In deepening her passion and experience in Wealth and Investment Banking, Emmanuella joined Metro Capital Advisory Group in 2008. She has an MBA from Aston Business School Birmingham, United Kingdom, and is a certified financial Planner (CFP), from Florida State University (FSU) FBNQuest Asset Management is a subsidiary of FBNQuest Merchant Bank, one of the strongest and most dependable financial groups in Africa. They work with individual and institutional investors to provide a strategy best suited to your investment goals and portfolios, from mutual funds to liquidity management etc.
Key steps to Maximizing Your next Cash Bonus
Everyone can relate to that feeling of excitement when receiving a bonus and all of a sudden, you feel that your financial problems have come to an end. However, after a month or two, not many can account for how the money was spent, it seems to disappear with every other money that comes into the bank account (i.e. regular earnings). It’s that time of the year again when most companies will soon start announcing their financial results and employees can expect to receive communication on bonuses. Most bonus payments these days are performance related so if you receive one, it comes with a feeling of success and fulfillment that your hard work is finally being recognized. Regardless of how much you are expecting to receive, it is important to carefully plan how you’ll spend it so that you can receive the most value out of it. Proper planning will ensure that you are able to account for every penny that comes in and motivate you to work even harder towards the next bonus. So how can you really maximize your bonus? First and foremost, you need to reward yourself for all the hard work. You have worked hard all year, dedicated your time and talent towards your company, and fully earned the bonus so you deserve to celebrate and treat yourself. Splurge on that expensive item that you’ve always wanted to buy or indulge in your guilty pleasure without feeling guilty for once. However, keep this to 10% – 15% of your bonus earning and try not to go over the threshold in order to fully maximize the amount. If you are a parent or working mother, you might feel the need to also spoil your family. Why not? They have supported you all year and been patient with you on those days when you’ve had to work late nights or work away from home so they also deserve to be rewarded. Spend about 5% to 10% on the family and kids and buy everyone lovely gifts to appreciate them for their support towards your achievement. Consider allocating the remaining 80% of your bonus in the following order: 1. Pay off any debts that you owe The cost of servicing debts is going to be higher than any income you are likely to receive on savings or investments. Except if your debts are non-interest bearing with no repayment commitments, it is more effective to pay off your all your debts before you think of saving or investing your bonus earnings. [bctt tweet=”Treat your bonus differently from your regular earnings” username=”SheLeadsAfrica”] 2. Put money into long-term savings or investments Any money left after you have cleared your debts should go into your long-term savings or investments. On average you should be putting 10% to 20% of your normal earnings into long-term (or retirement) savings or investments options on a monthly basis, so if you can, try to spend at least 10% to 20% of your bonus earnings in the same manner. The money can go towards your pensions, ISAs, other long-term investments products or even your personal business venture. This money is important for securing your future in the days when you don’t have the energy to work as hard as you are working now. Just as the saying goes to ‘make hay while the sun is shining’. If you have not already started saving and investing towards your future, then maybe you can start with your bonus this year. It’s never too late to start and $1 invested today can go a long way in the future with compound interest. 3. Top up your short-term savings or emergency fund If you still have money left after saving for the future, then you can use it to top up your short-term savings. This is the money you put aside for the short term emergency spend that you don’t plan for (i.e. unforeseen events) or the rainy day. Naturally, you should already be putting aside at least 10% of your regular earnings towards this account to cater for the unexpected spending commitment. The recommended practice is to have about three months of income in your emergency account as a minimum. Anything left can go into your miscellaneous account towards your next holiday or luxury spend savings (to fulfill your ‘wants’). To conclude, the bonus is a special earning that you’ve worked for and it’s important to treat it differently from your regular earnings. A fully maximized bonus is more memorable and being able to account for every amount makes it feel even more rewarding. A financial planner can assist you with savings and investments options that suit your goals, life commitments and risk profile (capital at risk). Good luck with the announcements. Hope you smile to the bank by getting a bonus payment that rewards all your hard work over the last year. Got a story you’d like to share with us? Share their story with us here.
Take charge of your finances with this budget template
[bctt tweet=”Budgeting is not difficult, but sticking to the budget is where discipline comes in” username=”SheLeadsAfrica”] Most young women in their 20s and early 30s dream about quitting their jobs and starting their dream businesses. But if you ask them how they manage their salary, you will be met with “uuumms” and “eeers”. How will you manage your business income, expenses and plans of you can’t manage your salary? Welcome to feminancial management! As women, we need to stop being controlled by our finances and take charge of it! Let’s get started with 5 easy tips to begin taking charge of our money. 1. Budget How many sisters budget their finances? Let’s talk about Achieng. Achieng is 26 years old. She works in a bank and her career is just starting to take off. Achieng lives from hand to mouth waiting for her paycheck at the end of each month. She spends on hair (with the natural hair trending, products are not cheap hehe!), clothes, social hangouts and such like expenses. Come one week before pay day, she is already broke, with just enough cash to last her till exactly payday. Does Achieng budget her salary? No. Does she track her expenditure? No. Has she allocated some money for investments or savings? No. Her reason will be she just earns enough for her upkeep. Once she’s promoted or gets a better paying job, she will start saving. Chances are she will not. Actually, no, she won’t save. What am I saying here in short? Budget your income. Distinguish between your “wants” and “needs”. You want that designer bag, you don’t need it! Budget “Savings” as your first expense in your budget. 2. Discipline Once you budget your finances, you need the discipline to stick to the budget. Meet our other sister, Fatma. Fatma is a 24 year old entrepreneur. She does online jobs and her income is intermittent. Once she gets paid, what does she do? Remember that nice dress she saw in that shop? She buys it and spends and spends and spends till she is broke and waits for the next gig to come along. The truth is, budgeting is not difficult, but sticking to the budget is where the rubber meets the road. That’s where discipline comes in. Track and monitor your expenses on a daily or weekly basis to help you stick to the budget. Separate your finances as per your budget e.g. if it’s bills, pay them immediately your salary comes in, if it’s savings, put up a standing order to a separate Savings account Remind yourself of the target, create a board even with pictures of your goal to keep you focused. 3. Goals Have I told you about Maame? Maame is a 30 year old stay-at-home mum. She recently had her second baby and can’t wait to shed the baby weight. What’s her goal? To shed off 20 Kilograms. What is she doing about it? Nothing! What gyms or exercising videos has she researched on to start her off? None. Doesn’t that look like most of us making New Year resolutions? It’s definitely me. We make plans in our head about our financial goals but we don’t put in the work needed to reach those goals. After a few months, we’ve forgotten all about it or have a myriad of excuses on why we couldn’t attain our goals. What can we do about that? Write down your goals. Break it down into sub-goals with time frames. Lastly be realistic about your goals otherwise you will get discouraged along the way and quit. [bctt tweet=”Keeping up with the Kardashians is great but keep up with news and current trends too” username=”SheLeadsAfrica”] Knowledge Meet Bola, a 32 year old doctor. She is a high-flying woman with the world at her feet earning a six figure salary and living the life. What investments has she made since she started working 8 years ago? You guessed right! None! Why? She doesn’t know where to start in investments. Is it real estate or stocks? She has no clue which direction to take. Most young women know a lot about their field in careers but no zilch about investments. But here is a chance to start somewhere Find a field of investments that interests you, and research on it. Make Google your friend. Mentors –talk to someone older, not even necessarily in your field who can guide you and perhaps you can learn from their success and failures. Keep up to date with current trends. Keeping up with the Kardashians is great but keeping up with news and current trends and innovations will help you a huge deal. Time Say hello to Esihle. Esihle is a pretty 23 year old in her first job after university. Esihle now has the “financial independence” she has been waiting for and no longer has to ask her parents for money. So where does she spend her free time? Social media, just stalking her friend’s timelines seeing what they have been up to, posting photos on Instagram with hundreds of filters and catching up with her friends over drinks after a hectic week of work or just catching up with the latest series or movies. According to research, the average millennial spends 9 hours a day on social platforms. How many years did she spend in the university learning about let’s say Journalism? About four years. How many hours does she spend learning about something financial related? Well, not enough. If she took four years to study in University and can afford to spend 9 hours on social platforms, how much more informed can she be if she spent one hour learning about investment opportunities like stocks for example each day? The point is we become empowered when we are more knowledgeable. We become knowledgeable when read and learn. We can only read and learn when we create time to do it! *Drops mic! What are you waiting for? Get empowered! Start by
Pensions, Savings, Trusts, Insurance. What is This All About?
With so many investment products on the market, we understand that it can become quite overwhelming and confusing when trying to make the best investment decision for your financial goals. But, fret no more! We’ve produced a pensions, savings, trust, insurance guide that will help you make the In-Telligent Choice and be on your way to financial freedom. Pension A pension scheme is a type of savings plan that helps you save money for later life. It has favourable tax treatment compared to other forms of savings, which is an added advantage. How it Works? You save a little of your income regularly during your working life so you can have an income when you retire or decide to work less (at retireable age). There are several types of pension schemes. Some may be run by your employer, others you can set up by yourself. Saving in to one scheme doesn’t mean you can’t save into another or use other tax-efficient savings plans. When the time comes for you to start enjoying your pension, there will be several options available to you. These may include being able to take a tax-free cash sum and the added security of being able to receive a regular income, now that you are not working full time. Savings Saving is income designed not to be immediately spent. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving more than just an account, it is also a deliberate act to reduce expenditures in your life. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is higher; in economics more broadly, it refers to any income not used for immediate consumption. To be considered financially secure, an individual or household should save at least six months’ worth of expenses. For example, a household that has N20,000 per month of expenses should have at least N120,000 in savings (N20,000 multiplied by 6 months). To reach this amount, it is recommended that 10- 20% of net income should be saved until the appropriate amount of savings is reached. Trusts A trust fund is a fund comprised of a variety of assets intended to provide benefits to an individual or organization. A grantor establishes a trust fund to provide financial security to an individual, most often a child or grandchild, or organizations, such as a charity or other nonprofit organization. A trust fund contains cash, stocks, bonds, property or other types of financial products. The recipient of a trust fund must typically wait until a certain age, or until a specified event occurs, to receive a yearly income from the fund. Prior to this, a single trustee, or a group of trustees, manages the fund in a manner appropriate to the trust fund’s specifications. This usually includes some allowance for living expenses and perhaps educational expenses, such as private school or university. Insurance Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. For more information about investment products and services, contact United Capital Plc. Web: www.unitedcapitalplcgroup.com Phone: +244-1-280-7596 Email: customerservice@unitedcapitalplcgroup.com Twitter: @UnitedCap Facebook: Facebook.com/UnitedCapitalPlcGroup United Capital Plc is a leading Investment Banking Group providing capital financing solutions to governments, companies and individuals across Africa. We are well positioned to play a strategic role in helping Individuals achieve their strategic objectives through our robust suite of financial and investment service offerings. Sponsored Post
5 Types Of Accounts Every Woman Should Have Before 35
Mo money, mo problems right? Maybe for Diddy, but definitely not for us. Definitely not in this economy and with the bills we need to pay and with the power moves we’re trying to make. More money equals more financial security for ourselves, our businesses and our families but how do we go about achieving that in the long run? The first thing you have to realize is that you can’t wait until you’re older to get started. In fact there are things you can do before you turn 35 which will go a long way in ensuring your financial independence for the rest of your life. We spoke to financial advisors from United Capital about what young women need to do to be better prepared for their future and they shared with us 5 important money accounts that every young woman should have before she turns 35 years old. Now 35 isn’t a hard and fast deadline but we can all probably agree that we better start to have our stuff together by the time we turn 35. Topics this guide will cover: – What are the 5 accounts you need to have before you turn 35 – Why each of these financial accounts matters for your future – How you can get free financial advice to help you reach your money goals So how do you download this free guide? Easy – just fill out the form below to join our community and get access to this guide and AWESOME weekly content. [ninja_form id=29] If you already know you’re ready to speak with a financial advisor who can help you set up long term savings and investments options, then you should connect directly with the United Capital team by emailing them at privatetrust@unitedcapitalplcgroup.com.
Ask a Financial Advisor – Volume 2
Financial independence starts with careful planning. If you want to be a millionaire in the future, you have to do the work today. We’re excited to present the second installment of our Ask A Financial Advisor column. Financial experts from United Capital have once again taken questions from our community and answered with real advice. Volume 2 of Ask A Financial Advisor features advice on starting and maintaining a saving plan as well as saving for future goals. How can I start the process of investing my money? Right now, I know nothing and would like to educate myself before doing anything. What are some trusted sources and beginner tips? – Naome Jeanty It’s great that you want to educate yourself prior to getting on the investment ladder. There are loads of resources available to one on the internet, so please do as much research as you can. The best way to create a life that is not dependent on a paycheck is to start investing early in your life and these are our top three tips – 1) invest at least 20% of your savings on a consistent basis. 2) take calculated risks, especially when you are young 3) start investing for retirement as soon as you have a steady income from paid employment or an on-going business venture. I earn N134,000 and I look forward to getting a landed property and also a car by this time next year. How can I save to meet up with this target? Thank you. – Toyin As with starting any project, it’s important to define clear goals -which you’ve done already. You do however need to prioritize these goals such that you are able to differentiate between routine expenses, short term and long term savings goals. Use the SLA Savings calculator and remember that an emergency fund is key. This is where it comes in handy to set up a Private Investment Trust. And when you do need to borrow, let it be for investment purposes i.e. purchase of land etc. How do I start and MAINTAIN a savings plan. I currently live paycheck to paycheck when debts have been ignored. I want to put money aside, I’m currently paycheck to paycheck (bills paid, rent paid etc) but at the cost of ignoring some debts. (Owe family and friends money…I can’t afford to pay them back at the moment). – Gloria Determination here is the key, both to getting out of debt and maintaining a consistent savings plan. The first step is to determine what you can actually save after taking out your routine expenses, i.e. food, transportation etc. Then the next step is ensuring that you actually do save. A great way to going about this is to set up a direct debit order on your salary account or main business account which ensures that a designated sum is debited at regular intervals i.e. monthly, quarterly etc and moved into an investment vehicle such as a Private Investment Trust. If you’d like to get your questions answered by a financial advisor from United Capital, submit your questions by clicking here.
Ask a Financial Advisor – Volume 1
Financial independence starts with careful planning. If you want to be a millionaire in the future, you have to do the work today. We’re excited to kick off our brand new column called Ask A Financial Advisor. Financial experts from United Capital are taking questions from our community and providing real advice. Read on for our first series of answers covering topics such as investing as a fresh graduate, real estate as an investment property and how to start investing even when you feel like you don’t have any money to spare. Hello. I would like to ask about the best place and way to invest my money in Nigeria presently, some say federal government bond buying, but am not so clear nor sure. I mean am not so super rich and just 3yrs out of college but I think the little money I make part if it invested would go a long way. Pls kindly help a sister out. Gracias! – Abimbola Investments when being done on a relatively small scale, are safer when carried out under the umbrella of a professional Fund Manager/ Trust Company. That way, the minimum requirements for say an FGN Bond or any other instrument will be met through the pool of funds being managed by the company. Also, the risks involved will be shouldered by the company and you will be privy to professional wealth advisory services suited to your investment objectives. What can one invest in that requires minimum money? I’m a single mum and I feel I’m living hand to mouth, I’d like ideas on what I could invest in and how that will require minimum money that could potentially accumulate or grow. – Nikita You can invest in a contributory scheme with a minimum annual contribution of N60,000.00, which will come to N5,000.00 per month. If you were to set up a Private Investment Trust, your contributions will be pooled with other contributors’ funds and invested in profitable investments which the N5,000.00 would ordinarily be insufficient to partake in. The result of this is a healthy mix of stable returns as well as minimum -risk investments which will be affordable to you and simultaneously accumulate in the long term. Every month I seem to just break even and in some cases I am over budget. How can I save money whilst breaking even on my budget? – Sharon You need to decide on a percentage of your income to save every month, we would advise 10%-15% for a start. Once that decision is made, you can invest in a contributory scheme which requires you to make contributions per month. A Standing Payment Order (SPO) given to your banker to automatically credit your contributions to the Fund Manager/Trust Company will ensure you do not begin to overspend before the contributions are made. This will improve your financial discipline and at the same time ensure you have accumulated a tidy sum which would have yielded a stable return in the medium to long term. With the rising cost of living, buying property is virtually impossible. Although I qualify for a small amount, should I rather buy an investment property (property that I will rent out and never live in) or wait until I can afford a place of my own and buy one for myself? – Kendi Buying property is a highly capital intensive venture and may not be advisable if you do not have the liquidity. It would rather be advisable to invest your funds in REITs (Real Estate Investment Trusts) through a professional at a minimal fee, so that you can accumulate the funds until you can afford the property of your choice, whilst still enjoying some benefits of real estate investments through the underlying assets of the REIT. If you’d like to get your questions answered by a financial advisor from United Capital, submit your questions by clicking here.