Remember the popular 50.30.20 budget? Do you feel it's appropriate for you? Last weekend, someone in the Tribe asked why he should allocate only 20% of his salary to savings/investments. He felt it was too small. I just want to point out that the 50.30.20 budget is only a guide. You can spin it anyhow …
What can you invest in- Bonds (Fixed Income)
These are debt securities that pay a pre-determined rate of return on pre-determined dates and also promise to repay the principal at a pre-determined date. You are pretty much giving out a loan just like a bank would do to a company or the government. These are more risky than cash/cash equivalents, hence they offer …
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What can you invest in -Cash & Near Cash Options
According to a 2018 report by UBS and Campden Wealth, the world's super rich had 7 percent of their portfolio in cash and near cash instruments. So even though the rates have dropped, you still need to have some of your money in this asset class, particularly your emergency savings. Apart from making cash available …
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If you want to change the world, start with mastering your finances
Many founders kill their businesses and ideas with bad personal finance habits. They've got a great idea, built a solid team and actually execute excellently. But the business fails. Their business has barely got of the ground and their product is only starting to gain traction, but because they have the title CEO, they feel …
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Shifting from ‘Spaving’to Saving
Incredible 50% savings off a new ultraHD TV! Is it really saving, if you've just spent some money? That's not really savings but something called spavings - a combination of spending and saving. Spaving is spending money during a sales promotion to save money. Savings in its true form is money set aside for future …
Make sure you both know the important stuff
I wonder how much money people have stuck in banks without anyone to claim it? Whether you choose to manage your finances separately or combine everything or any other way you choose to deal with your family finances, you should share relevant financial information to avoid problems. It's common for couples to have one person …
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You have high yielding investments but do you have cashflow?
What shall it profit a man or woman to have high yielding investments but zero cash flow? So Tiwa is on her first job out of school and has just been paid a year end bonus. She's all about saving and investing, so when she hears of how land prices in Lekki have jumped for …
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Thoughts on saving money with a piggy bank or kolo box
Once again, people are breaking there kolo to find decent sums. Last year, I thought it was throwing money away in unearned interest. If you put 1,000 into the box daily, you'd have at most 365,000 at the end of the year. If you were putting the 1,000 into a high yield savings account (10% …
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Simplify your finances to get ahead
Managing your money can be complicated (even if you have a little), but it becomes easier to control if you simplify the process. Steps to simplify your finances - Consolidate your accounts - It's not uncommon for people to have multiple bank and investment accounts. Apart from avoiding the payment of multiple bank charges, streamlining …
Tighten your belts – Keeping it together in a tough economy
You are not a 'marlian', so you better tighten your belt, the government is coming for a bigger share of your wallet. This is what's happening - VAT - As we all know, this is going to 7.5% from 5% Electricity Tariff - Tariffs are going up by about 78% in April. Petrol - Has …
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