How it Started; Don’t Spend That Money Yet!!!

Rewind to the beginning of the year, specifically February 2020: I heard the Federal government would increase our NYSC allowance from 19,800 naira to 33,000 naira, and all that went through my head was “2020 gonna be lit”. I am going to buy my iPhone 11 or my kinky straight wig, “I know all you guys know is bone straight wig, but I am on another level”. Come October I am going to take bomb ass pictures for the GRAM and TWITTER, “No be only Bolanle like better thing, me sef I like better thing”.

Then came March alongside COVID 19, and reality dawned on me. Though our NYSC allowance was still stable, my PPA (Primary Place of Assignment) salary was slashed in the middle, and the possibility of either getting the wig or iPhone 11 after my service year was shaky, and I obviously knew expenses would pile up and swallow up most of my money.

PS: Data and Airtime in this country is one thing that low-key eats up our money, but sadly we do not want to admit it to ourselves and find ways to optimize our data usage. Well I have admitted it to myself and I have started utilizing the borrowing option on my Airtel Network and I am now a regular customer.

I would describe myself as a big saver, I enjoy saving money and seeing it in my bank account, the joy it gives me, to be honest, it’s indescribable at this very moment. I have also become accustomed to saving in order to buy a certain thing, so saving all my allowance was quite easy for me. However, towards the end of my service year, I do not know the type of breeze of wisdom that sent financial literacy to my side, but I bless that wind, ‘Lol’.

I began to reason instead of buying the sweet and luscious kinky straight wig or an iPhone 12 256g, ‘Yes O!!! Apple just wants to kukuma empty my bank account, I have not finished fantasying about iPhone 11, 12 will now come out by September’, why not split the money you have saved up 60:40, and invest 60% of your savings in several investment platforms, at least if one platform doesn’t pan out, the others will surely work. Not only this o!, but I also started seeing posts and masterclasses about investing with several platforms such as PiggyVest, Cowrywise, Pettysave, and all other investment platforms I will share with you during our journey.

WAIT!!!!! I know what you guys are thinking, “here we go again, Omo investment ambassador”, to be honest, that’s the same thing I was thinking when I opened that tweet. But during my journey, I realized my biased perception hindered me from learning. Well instead of giving you guys some Inspire to Perspire Quotes, I will share with you my investment stories, which began with my Pettysave Investment.

I was very skeptical because what I had saved I believed was not tangible for an effective return. Imagine investing 20,000 naira and getting 4,000 naira based on a 20% return in 6 months, Omo it wasn’t looking lucrative and it basically turned me off the idea of investing for about a month, because that money if I kept it in my bank account I would believe subconsciously that I was 20,000 naira richer. And I know I am not the only one that gets heartbroken by a debit alert, I don’t even like to see it, but it is needed to track my monthly expenses. ‘Well I downloaded the Pettysave app, so I can say I had taken my first step to financial breakthrough’.

PS: I advise you to track your monthly expenditure, using a dedicated journal. You should jot down what you buy via any medium: this would allow you to budget your recurrent expenditures, and know what unusual item(s) has eaten up your monthly income, plus it helps you budget for the next month. I believe there are apps for this, but to be honest I just use the Memo app on my phone.

Fast track to a month later, I decided to invest my first 20,000 naira on Pettysave iLand Properties with a 20% return in 6 months, at least I knew I was not investing in the stock market and I was certain about my return, and I have always heard the buzz that real estate investment is the safest form of investment, another story for another day.

And behold, my investment journey began, I remember opening the app every day to track my return on investment, lol, I am not bush I was just an eager investor. With the 4000 naira return from my initial investment of 20,000 naira, I reinvested the 24,000 naira into another investment plan using the Pettysave app, so that with a 24,000 naira investment at a 20% return in 6months, I would gain 4,800naira, making a total of 28,800naira in one year.

I know the amount looks small but compare it to if I had left it in my bank account, which earns -0% interest- remember bank charges, so practically I would be in the same position I was one year back. Even worse, what if I had spent the 20,000 naira on data or shawarma and market square rice, I would be 20,000 naira poorer in one year. However I can say I am 8,800 naira richer from a 20,000 naira initial investment, which is basically 44% return on investment-I always convert my returns to percentage form to boost my morale, you should try it!

I also advise not just reinvesting your principal and returns, but save up part of your income to increase your next investment. After my initial investment of 20,000 naira I added 5,000 naira to my new investment plan, meaning instead of investing 24,000 naira, I invested 29,000 naira and by the end of 6 months, I would be getting 34,800 naira, based on a 20% return on investment. Though not much I believe it is a starting point to building myself towards my financial haven.

Final Words of Wisdom:

· You do not need to start investing with 100,000 naira upwards, you can start small and with patience, we can grow big together.

· Always save up during your active investment plan period to buffer up your next investment plan.