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”

A Good Salary May Not Equal Financial Security

If you haven’t developed good money habits, even with a good salary you could still fall behind on your bills and on meeting your financial goals. The reason is that the average person would typically see their living expenses go up as their income goes up. You want to live in a bigger apartment, eatContinue reading “A Good Salary May Not Equal Financial Security”

Invest in things you understand

“Never invest in a business you cannot understand” – Warren Buffett You would imagine that the common sense to do is to invest in things you understand and can probably explain clearly to a fifth grader, unfortunately, it so happens that every day, many people are putting their money into things they do not understand.Continue reading “Invest in things you understand”

Managing your money with the 50/20/30 budget

The 50/20/30 budget, is a proportional guideline for allocating your paycheque. It’s in essence, a system of personal budgeting for keeping your spending in alignment with your savings goals. Typically, the budgeting process requires you to keep receipts and track every single expenditure. Now, that can be a real drag. And I don’t even think,Continue reading “Managing your money with the 50/20/30 budget”

‘100 minus your age’ Asset Allocation Rule

Whenever I get the chance to speak with a lot of young people about investing, I always find out they are holding too much cash either in their savings account or in treasury bills. A 2014 UBS survey, reports that millennials held only 28% of their portfolio in stocks and the rest in cash andContinue reading “‘100 minus your age’ Asset Allocation Rule”

Benefit of starting early

If there is one thing that will affect your portfolio more than anything the ‘magic of compound interest’, it is time. This impacts your portfolio from two perspectives – how early you start and how long you hold your investments. Perhaps, we can say – he who comes to investing, must come with time inContinue reading “Benefit of starting early”

Consider your time horizon

When you want to make a decision regarding what investment product to buy into, one of the first questions that you should answer is “what is the time horizon?” This is important because investment products are suited to different time horizons i.e. the length of time an investment can be held before it’s liquidated. IfContinue reading “Consider your time horizon”

Why you should have a financial plan

Having a clear financial plan is core for taking control of your finances. Ironically though, not many people pay close attention to this. Not even people who seemingly are on top of their game as far as their spending and investing choices are concerned, get around to documenting a proper financial plan. Hence, it’s notContinue reading “Why you should have a financial plan”

Keep an eye on your debt

In Nigeria, we don’t really have student loans and the use of credit cards hasn’t quite caught on. So not many people are faced with the kind of debt issues we hear about from western countries. However, in the last few years, we have seen a large number of payday loan providers spring up. TheseContinue reading “Keep an eye on your debt”