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 futureContinue reading “Shifting from ‘Spaving’to Saving”

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 forContinue reading “You have high yielding investments but do you have cashflow?”

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%Continue reading “Thoughts on saving money with a piggy bank or kolo box”

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, streamliningContinue reading “Simplify your finances to get ahead”

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 – HasContinue reading “Tighten your belts – Keeping it together in a tough economy”

Dangote is Africa’s richest but do you know your net worth?

You know Jeff Bezos is the world’s richest and Aliko Dangote is Africa’s richest, but do you know your net worth? By the way, given the stock market rally, Aliko is $1.51 Billion richer since we said happy new year. To measure is to know – if you cannot measure it, you cannot improve it.Continue reading “Dangote is Africa’s richest but do you know your net worth?”

Treat your investment portfolio like your fashion closet

Whether it’s closet or wardrobe you have, there would be a bit of this and that in it. Some trendy stuff and some classic stuff, some traditional and some western pieces, some expensive items and some Etsy stuff. You’d also have stuff for different seasons or weather conditions. As well as covering for different partsContinue reading “Treat your investment portfolio like your fashion closet”

Should you refinance your debts now that interest rates are low?

With interest rates on a down trend, the winners are borrowers who can get cheaper loans. This week I got a mail from the orange bank that their rates have dropped from about 21% to 16%. So how can you make this interest rate environment work for you? Perhaps, you should consider refinancing existing loans.Continue reading “Should you refinance your debts now that interest rates are low?”

How Different Couples are Splitting their Bills

The modern family no longer relies on one person being the breadwinner and handling all the money stuff – income, paying bills and investing. Today, both men and women are bringing in the bacon or as I saw this morning, someone brings the bread and the other brings akara. However, this doesn’t mean that theContinue reading “How Different Couples are Splitting their Bills”

Navigating Different Money Habits in a Relationship

Because money habits can be ingrained in our personalities, differences around money management causes a lot of stress in many relationships. So what do you do if your spending styles are divergent? Identify your spending habits – Most relationships would typically have one partner that is a saver and another that is a spender. That’sContinue reading “Navigating Different Money Habits in a Relationship”