The global pandemic has brought along with its spread, lockdowns which have resulted in not only health, social and economic challenges but also financial ones too. More means of earning and saving are shrinking and for many, newer realities are emerging some of which were known but not adhered to before and for others completely new ones.
Here are five of such financial or money realities that COVID-19 has shown us Nigerians.
The COVID-19 pandemic is a key reminder that the average Nigerian cannot rely on one means of income only. Economic implications have made employers relieve some staff of their services and for those who do not get a new job quickly, the future days may not be convenient. …
The global day of love is here again and as St.Valentine’s day takes center stage, we’re quite aware that your funds will also have to show up for you. While our former culture was to push all expenses to the male figures, recent feminine empowerment moves have made a case for women to own up the bills. Come to think of it, love is not one sex sided? Both have roles to play.
Being your savings buddy, our goal is to help you find ways to cut your spending and increase your savings. …
Most Nigerians live for their salaries but still yet struggle to make ends meet. A simple solution to this is to start a side hustle.
A side hustle can be anything you are passionate about and can easily do. However, to start one, you will need some form of financing i.e capital.
To get the capital for starting a said hustle, the easiest is to save consistently towards it as a goal.
Luckily, you have Octa to help you with that. Download the app and get to saving.
Need help, our DM is open. You can also chat with us on WhatsApp 09070071220
If you’re reading this, it's most likely because you want to know how safe and secure your savings or investment are with Octa. We totally get you and we’re okay with your concerns. We take user safety and security importantly and will do everything to ensure both your money and data are safe. This short piece is to clarify your doubts and concerns.
First, what does safety mean in the age of digital banking?
Safety in digital banking means that any information or funds you give to a platform are safe. It also means that a dubious individual cannot get access to it and cannot use your details against you. …
No one prays to hear bad news, but should it happen one must always be prepared. Being prepared includes having readily available funds. This is where emergency funds come to play.
An emergency fund is money you save to take care of unexpected occurrences. It is important to note that it is a fund you have to consciously save towards.
Emergency funds can be used for
Do not use your emergency fund for expenses like house rent, travel expenses or buying a car. These expenses should be planned for aside. Also, your emergency fund should not be kept in any risky investments. …
Do you usually find yourself spending more during weekends? Yes or NO.
Hey guys, we know how weekends are in Nigeria. Owanbes, parties and if you think you’re free because you are home, food, data and fuel expenses won’t let one rest. The typical weekend is an expense in waiting. If you want to break off from this trend, here are 8 things you can do to spend less on weekends.
1. Stay at home: This is so lame, right? But hear this, the moment you step outside your gate you’re literarily spending already. …
Everyone has a goal, a dream, something they want to achieve in the nearest future. Saving can be the bridge between your goal and its actualization. Most people want to save but find it very difficult, saving is easier when you have a goal in mind. It keeps you motivated and helps you to stay on track.
So what’s your goal, what is your dream? To buy a property, car or build up a deposit to start a new business portfolio? To save for a vacation abroad, a wedding or for your child’s education? …
Having young children is expensive and trying to put money aside while you pay for everyday expenses such as childcare can be difficult. Also, education costs can seem very far off, especially if your children are very young. Planning and saving for your child’s future education however, while they’re young, will help take the pressure off you in the years ahead.
The only real legacy you can provide for your children in order to help them through the challenges of life is a good education — make sure that you start early enough to ensure that this becomes a reality for them and for you. …
It had been a rosy three months of marital life when Dan’s wife broke the news of her pregnancy. Dan’s joy knew no bounds. He was an incoming daddy!
Dan’s wife spent the pregnancy period getting ready and saving up in her traditional kolo while Dan started setting aside a portion of his salary towards the baby.
4 months into the pregnancy, his wife’s younger sister had an emergency that needed financing. Dan contributed but the case grew worse and Dan had to cough out some more. He calculated that he’ll just spend less and channel the extra funds into the baby savings. In this harsh economy, saving wasn’t the easiest thing for Dan to do. His salary was small while the daily expense never seemed to wane. His wife though pregnant supported by ensuing he took food along to the office meaning Dan didn’t need to spend money for lunch any longer. …
The average Nigerian thinks of how to increase his worth daily. Self-worth may include image, lifestyle items like houses cars, babes/guys, connection and most importantly money. It makes no sense to restate that riches come by embracing investments. The question, however, is how does one get such bulk money to invest? This is where Octa comes in.
Octa helps forward-thinking Nigerians save towards a goal. The savings is done by automated daily, weekly or monthly deductions from the user’s source to the Octa account. This way, the user enjoys a hassle-free savings plan.
The next big benefit of octa is that users of the platform enjoy higher interest rates on their savings than if they had kept the money at a traditional banking alternative. Octa’s interest is actually even up to 4X and above what alternatives gives. And when stacked with other similar platforms, we rank among the highest platforms of earning sizable returns. …