Introducing the Money Talks Series – addressing financial issues young African women face
She Leads Africa and FSDH Asset Management partner to bring you an 8 episode web series focused on common money issues young career and businesswomen face. Want to make serious money moves in 2019 and start taking steps to reach your financial goals? Whether you are getting married or are married, part of the bridal team, just started working, planning to pursue your master’s degree and more, the Money Talks series is here to help you! With each episode focused on different financial issues most Nigerian women face, the Money Talks series aims to help women reach their financial goals through various FSDH product offerings. The Money Talks series is brought to you by She Leads Africa in partnership with FSDH Asset Management and will be hosted by She Leads Africa’s Head of Content, Hilda Awomolo. Each episode will feature successful career and businesswomen, including our co-founder – Afua Osei, who’ll share their insights and provide tips on each topic. Watch the trailer here: https://youtu.be/vN-_bULPGiE Through this series, viewers will: Gain tangible advice on how to deal with various financial – related issues. Have access to 4 Quick Math guides to help make money moves at the end of each episode. Participate in a LIVE chat during the premiere of each episode on She Leads Africa’s YouTube channel. Be provided with an opportunity to discuss topics in a Twitter chat every Tuesday on She Leads Africa’s Twitter page. The episode guide is as follows: Episode 1 – Who gets your first salary? You or your parents? Episode 2 – Are you a bad person if you don’t buy Aso-Ebi? Episode 3 – Should you have a separate investment/bank account from your husband? Episode 4 – What’s the actual cost of having a baby? Episode 5 – How do people fund their master’s degrees? Episode 6 – How do you react to friends and family who borrow from you? Episode 7 – Do your friends help you spend or save your money? Episode 8 – Does your spending personality match your account balance? The first episode will be released on Thursday, 28th February 2019 at 6pm WAT on the She Leads Africa YouTube and Facebook pages. Brand new episodes will go live every Thursday at 6pm WAT from 6th March on both platforms. More about FSDH Asset Management FSDH ASSET MANAGEMENT LTD – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm. FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel. Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive.
A MINIMALIST’S PERSPECTIVE TO SETTING GOALS
Goal setting is paramount to individuals as it helps with the rebranding, focus, and orderliness of life. I mean, we all have aspirations and dreams and accomplishments we would love to attain yes? And when it comes to aiming that peak, it’s all about good intentions, yes? When it comes to sharing our aspirations with others, we get bold, we get optimistic, and we get daring, yes? Most people even go as far as creating reward systems for themselves, like when I positively tick so soon my goal list, I have to get me some Birkin Bag because I sure deserve it! Right? So why do we let the negative kill our vibe? Why is it that we often fall short of the goals we set for ourselves? How come we wonder why we are at the same place we were years past, with the same poor habits and no sign of progress? It’s simple. [bctt tweet=”Start simple and work your way from the ground up” username=”SheLeadsAfrica”] The answer to the entire why questions are because as human beings, complicated is our tag names, no offense. We tend to overcomplicate and make vague the steps necessary to accomplish the goals we set for ourselves. As there are loads of various perspectives to setting goals, this article gives you another strategy to set and look at your goals progressing from a minimalist’s perspective. LITERALLY, HUG BIG PICTURE IDEAS This may be very contrary to what minimalist’s belief in but its standard. Embracing that big light bulb idea will make one hone in on what we tend to get out of this life. This idea may range from securing a major deal in your niche, wanting a big family or just being financially well off. It could be anything that tickles your fancy, just make sure you write it down on a paper with your lovely pen. Note: it’s important to take the time to grasp what you want your life to be all about, and what you would want to achieve big time. PRIORITIZE THE PARAMOUNT This is the forte of minimalists. So once you’re done listing out your big ideas and dreams’, noting the order of importance is the next step. When you create a prioritized list, you are getting rid of the confusing clutter and allowing yourself focus on what you truly want to accomplish. So this is it: you create a list of your goals beginning with the most important to achieve at this point in your life to the least important. Note: One has to realize that the goals found at the bottom of the list are still important but not as crucial as the ones found at the top. Now, success is just around the corner because you have something real, a real end goal you wish to achieve and not just wishful thinking goals. CREATE TANGIBLE STEPS Now that your priorities have been set, you can start using this information to pinpoint steps that would help you achieve the most important goal on your list. Remember, you need to take time out and think deeply for you to establish well thought out steps to achieving your goal. Now, try to begin with the most basic achievement you can think of. As with how we humans evolved, and our learning process, we started learning A, B, C before forming sentences. So start simple and work your way from the ground up. Remember with previous steps, it’s important to note them down so you can refer back to them later.It helps when you keep your laid out thoughts short, black & white and precise so it’s clear to see if you have successfully accomplished a step…or not. This phase is more or less, understanding the significance of creating a solid foundation that is easy to grasp and build upon. GET RID OF THE CLUTTER As a minimalists’ main goal is to declutter in all aspects of life, this works in setting goals as well. Any step or thing that doesn’t aid in your success should be scratched out, with every ounce of intentionality and no looking back. Anything that proves as a barrier in achieving your goals, be it an excess of social events, ideas, obligations, people or items, scratch ‘em out, please. Now don’t get me wrong, they may not be negative influencers, in general, but they may be distractive and you won’t be needing any distractions when it comes to pinpointing the goals and heights you want to attain at a certain period. We need focus vibes and not distraction vibes. [bctt tweet=”If you want to lead a simple life, scratch the reward system, let go of that chocolate and be bold.” username=”SheLeadsAfrica”] REWARD SYSTEM…OR NOT. Reward system is an innocent idea but totally unnecessary. For minimalists, they see value in the lifestyle they have opted in for and they know there’s a light at the end of the tunnel. They know the rewards and gains they have to look forward to by achieving their goals and so they embrace the simple idea that for every phase completed, they are a step closer to achieving their desired goals. This setting goal strategy may be very tough on people and opting in for the reward system is not a bad idea but if you want to lead a simple life, scratch the reward system, let go of that chocolate and be bold. REVAMPED LIFESTYLE A minimalist strategy to setting goals gives a more defined approach to things and a simple approach to creating and meeting your desired goals. Once you’re done setting your goals, you start getting results in your overall lifestyle, positive results as that’s the beautiful outcome of setting goals. It’s more like you put in hard work in one area of your life and you see a transformation in other areas. Keep that in mind. Note: Don’t try to skip previous steps to jump. It doesn’t work that way as the steps
Quick Maths (2): How to diversify your funds with FSDH Asset Management
Money is a tool…Use it wisely! Welcome to the second part of our Quick Maths series. We’ll be sharing with you financial terms, tips, and tricks to get you ahead of your financial game. In the first part, we discussed various ways for you to generate capital to start your business. In this downloadable guide, we highlighted high-level options you can explore to get capital. Catch up on part one by downloading it here. Now, let’s talk about diversifying money. It’s important to keep tabs on your money, know where each penny is going, and how it will bring you more money because today’s economy is not smiling at all. In this guide brought to you by SLA, in partnership with FSDH Asset Management Ltd, we’ll be showing you different ways to save, protect your savings, and why you shouldn’t have all your eggs in one basket. If you’re wondering how to improve your finances, this guide will help you with some practical ways to get started. Topics this guide will cover: Diversification for low-income earners How to diversify within an asset class It doesn’t matter whether you are a salary earner or a business owner, as long as you have financial goals that you’re looking to achieve, diversifying can help you reach those goals. Roll up your sleeves, tie your hair in a ponytail, grab your pen and journal and get down to work! To keep getting your finances all the way to the top, make sure to follow up on the next guide. FSDH ASSET MANAGEMENT LTD – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm. FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel. Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive. Once you’re through with this guide, visit FSDH Asset Management Ltd to know more and get all your pressing questions answered. Getting access to this guide is easy: just fill out the form below to join our community and get access to this guide, remember this is only part 2, there’s more to come – so stay updated. By joining our community, you also get to enjoy our AWESOME weekly content as well.
Quick Maths (1): How to generate income to start a business with FDSH Asset Management
Smart moves early in life can pay BIG long-term….. Now, what’s the point in looking good and slaying when your bank account isn’t smiling back at you? Listen. This is the year to SLAY 100%, and we’re ready to show you how to make money moves the right way. So, are you ready to cash out like Cardi’s got nothing on you? We are partnering with FSDH Asset Management Ltd to share with you a 4 part downloadable guide to enable you to boost your finances. We want to make sure that every Motherland Mogul is prepared to master the money world. [bctt tweet=”Learn how to generate funds to start your business with @FSDHCoralFunds. Click here for more: bit.ly/FsdhGuide1″ via=”no”] Topics this 4 part series will cover: Seed Money: How to generate income (capital) to start a business. Diversifying: Different ways to save and protect savings (for low and high-income earners). Bottom Line: How to use your business net income to your advantage Emergency Funds: Why you must have some investments. Now let’s talk about you. You’re about to start a business but you need capital to begin? Girl, we’ve got you! In this first downloadable guide, we’ve done some Quick Maths for you, highlighting how you can generate capital for your business or launch your new project. First, you need to understand that money does not come for free, as a MotherlandMogul, you have to know what your options are, and work towards them. After reading this first downloadable guide, you’ll understand what moves to make to get closer to your money goals. But what’s next after you get that capital and the bills start rolling in? We have more juice coming your way. To continue learning basic principles that will lead to a happier and healthier financial you, get prepared for our next guide. Because girl, we’re going deeper. FSDH ASSET MANAGEMENT LTD – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm. FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel. Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive. Once you’re through with this guide, visit FSDH Asset Management Ltd to know more and get all your pressing questions answered. Getting access to this guide is easy: just fill out the form below to join our community and get access to this guide, remember this is only part 1, there’s more to come – so stay updated. By joining our community, you also get to enjoy our AWESOME weekly content as well.
Five benefits of vacation work during the holiday season
So the holiday season is here, and whilst everybody is in a tizzy over year-end functions, pre Christmas plans, decorations and basically bawling over the holiday season… You or perhaps someone you know, maybe thinking well now that the semester has come to an end; what to do? Quite the temerity it must be; deciding whether to lounge around and have a jam all summer, or work towards building your portfolio to be industry ready. In as much as the season may leave many of us with a lot FOMO as a result of Instagram lifestyles, we need to stay the course in our personal journey towards achieving the goals we have set for ourselves. It is never too late to jump back onto the bandwagon! Decisions… Decisions… What to do? Christmas is generally a season where everyone is spending copious amounts of money, sometimes even to their detriment. And the social media platforms are an absolute field trip for the type of lifestyle one should be engaging in, consumerism is a monster unleashed. As a student, graduate, or a job hunter, your best bet would be to look up any vacation work that may be offered by corporations or NGO’s. This will not only aid in keeping you from spending money which you (or your parents) don’t have, but it will propel you a few steps closer to the career you want to find yourself in. What is better time there to start actualizing your dreams and aspirations than the Christmas season with all its good cheer and positive vibrations? Benefits There are undoubtedly a plethora of benefits when it comes to taking up vacation work, however, here is a narrowed down five points to bring the thought home: 1. Vac work will aid in establishing whether the career field of choice is the right one. It is always better to know before making a long commitment to a particular trade service, whether or not it is what you want to be doing for the rest of your life. Nothing brings more clarity than having a real-time experience of a work environment to further solidify your stance. 2. Extra flow of income, if it is a paying gig. Vac work may not always have a monetary benefit if it does, however, that means Christmas spoils for yourself and some money to put towards the savings account. In the instance that it is not a paying gig; there is a lot that could be made up for that in the form of experience. It would be important in this instance to ensure that wherever you’ll be taking your vacation job, there are individuals who are open to and willing to mentor and guide you. 3. New experiences and encounters. This is self-explanatory, having a chance to experience new things generally is always a plus. At no extra cost to you, nothing brings about rejuvenation and perspective like exposure to a way of being that is different to yours. 4. Showcasing a level of responsibility to the parents. Parents want to know that their children are ready to take up adulting and the responsibilities that come with that. Nothing spells grown up more than taking charge of one’s life and journey. 5. A sense of accomplishment. Nothing brings on a booster more than a sense of achievement. No matter how small the feat or how insignificant the milestone may seem; but to you, it is a step in the right direction. You can always be proud of yourself for doing the work of being a better version of you. You were born for this… Do you boo! You are able to do everything you set your mind to. You just ought to get up and show up in your life. It is important to hold yourself accountable for the life you want to live. It is equally important to ensure that no Christmas splurge fest formed against you shall prosper. Time to enjoy the holidays, hone your craft and Merry Christmas!
4 Steps To Get The Raise You Deserve
There is nothing like excelling at a job you love! This is the job you have always dreamed of, and this is a career which allows you to fulfill your purpose- Monday to Friday 9 to 5. There is just one problem, you feel undervalued, underappreciated and no one seems to notice how you go above and beyond for this company. You have been at this organisation for a number of years and you have worked your way up the ranks, however, your salary has not had the upliftment you feel you deserve. Well it’s high time you demand your value be addressed accordingly. Here’s a four-step process to help you get that get the raise you rightly deserve. Conduct thorough research Find out what other people in a similar role are earning. What is the current going rate in the market? Whilst you are it, find out what other people on a similar level to you in the company are also earning. You want to know what to ask for when you go in guns blazing. By doing your research, be sure to also find out what the role entails for other people at other organisations. The same role can be different at two different organisations, others might do more or less. I recall during my legal days. As I was working as a Paralegal, I met other Paralegals from other firms who were earning more than me. Now as they told me of their higher earning power I was infuriated, but it turns out their roles demanded more of them than mine did. Your research should expand to you as a person as well. What have you been doing that entitles you to a pay rise. If you have been turning up late, missing days, taking extended long breaks and not performing well, perhaps you need to go back to the drawing board and think about why the company should not deduct your pay instead. Napoleon Hill said, going the extra mile, “tends to make one indispensable, in many different human relationships and it therefore enables him to command more than average compensation for personal services.”. Initiate the conversation Schedule a meeting with the person at your company who has the authority to give you a raise ,or bring it up during one of your reviews. Put the issue out there/ on the table. Don’t be aggressive and don’t be emotional in your address. You’ve done your research, come armed with facts and data. Remember, you are worth something to them and if they don’t see that, that is their loss. You are in control of this. Sometimes the company will not think about giving you a raise until you mention it. If you don’t ask don’t expect to receive. Stand firm in your worth If you have asked for a pay rise, be brave enough to stand up for yourself and tell the company what you think you are worth. If they fail to give you a raise, be brave enough to exude your worth, politely remind them elsewhere this is what they are offering, and you have no issues going elsewhere if need be. I would advise having a plan, if you decide to go down this route, just in case they call your bluff. This should not be too much of an issue. The only issue is as human beings we get complacent. I have worked in firms where some of my colleagues had been there for years, not earning much because they were comfortable at their work place. You may not be getting the pay rise you deserve because you are unwilling to explore. Have you considered moving to another city or even out of the country? Execute Whatever the outcome of your pay rise meeting is, execute the results. If a pay rise has been agreed on continue working hard and go the extra mile. If one has not been agreed on and you still feel you deserve one, figure out your next step. Are the reasons for the pay rise being refused justified? i.e let’s review it in three months. Are you willing to wait around or are you ready to make a jump into the next role? You need to see the value in you before you expect anyone to. As human beings, we are sometimes oblivious to our faults. Evaluate yourself and be honest, would you give yourself a pay rise. If so get to working on it and show them why you deserve one. Do you have any tips on how to get a raise? Let us know here.
5 #MotherlandMogul characteristic’s when it comes to relationships
When was the last time that a song took you to church like this? Or this? For me, it was yesterday. The song? “Add To Me” by Ledisi. I identified with this song on such a deep and personal level because, it perfectly outlines some of the thought patterns that I have as a #MotherlandMogul when it comes to dating and entering into relationships. Like… I seriously considered playing it to the next nosey aunty to ask me why I’m not married yet. Heck, it made such an impact that I was inspired to write a little ode to it! As such, here are 5 characteristics of Motherland Moguls, regarding relationships (as told through Ledisi’s “Add To Me” lyrics). I’m sure you, as a member of the SLA community, will be able to identify with these too. So, without any further ado… #1 They are self-sufficient “I can be good on my own (can you add to me?) But I don’t want to be alone (can you add to me?) Paying all my bills on my own (can you handle me?)” As these lyrics show, Motherland Moguls are the epitome of the old adage “she wants you but she doesn’t need you” because they are independent and able to cope with or without a man in their lives. To summarise the late, great Dr. Myles Munroe, this is because they understand that singleness is not the same as incompleteness. Understanding this, Motherland Moguls can, indeed, “be good on [their] own”. #2 They prioritise their needs and practice self-care “I’ve been in a spiritual place; so when it gets hard I don’t break” Boss women have worked hard to become [spiritually, mentally, financially] self-sufficient. They are not interested in being destroyed by the wrong choice of relationship. As such, they may actually elect to remain single in order to maintain their “good” status. They also recognise that if they: Don’t have a healthy relationship with themselves, they will never be able to have a healthy relationship with another person. Are not happy or fulfilled within themselves, nobody else will be able to draw these things out of them or place them inside. In addition, they recognise that these qualities come from a strong relationship with God, as well as a positive intrapersonal relationship (relationship with themselves). #3 They have goals “Made a lot of money last year (can you handle me?) Plan to make more this year (can you handle me?)” Not only have they worked hard to become the person that they are now, they have clear goals for the future. Boss ladies are not stagnant ladies; so they don’t want to be with anybody who is going to stand in the way of their progress or the fulfilment of their goals. They want someone who truly has their best interests at heart and is not a distraction because, as Cindy Trimm once said: “Everything in your life rises and falls on a relationship. If you have the wrong relationships, you are going to end up in the wrong place” and vice versa. This means that positive relationships can advance us and move us forward , whereas negative relationships can stagnate us and cause us to regress. Bosses understand and apply this wisdom, knowing that the person that they are with can determine whether they get to their destiny or not. #4 They are not easily impressed “Took a lot now you’ve got my attention… But I’m the type that needs a little more” Because Motherland Moguls are so self-sufficient and focused on building their empires, they are not easily wooed or impressed. With all that they want to accomplish, they also don’t have time for games. This may earn them the reputation of being “cold,” “too picky” or even “a man hater” but, that’s not the case at all. They simply are not looking for a savior or to be in a relationship for relationship’s sake. #5 They are looking for a partner “But you got to have it all together (can you add to me?) So we can be stronger together (can you add to me?)” One of my favourite personal development books is “The Wisdom of Andrew Carnegie” by Napoleon Hill. In it, Carnegie advised that two of the steps to major achievement are: definiteness of purpose (a goal) and choosing a master mind team so that those in it can experience the benefits of synergy. This, in a nutshell, means that when two (or more) individuals unite and join forces in order to achieve a given purpose, they will be able to produce something that is exponentially greater than they ever could have done by themselves. Most people tend to understand this concept of “teamwork making the dream work” from a business point of view, but what sets #MotherlandMoguls apart is that they are also seeking this in their romantic relationships. As Ledisi quite rightly put it- they want someone in their life who they can build with; who can and will “add to [them]” and who they can add to in return. What other #MotherlandMogul characteristic’s would you add to this list? Let us know here.
The elephant in the room: Year-end bonus
[bctt tweet=”You need to have a financial safety net for when companies can’t pay bonus cheques” username=”SheLeadsAfrica”] Cash Roulette Many of us dream of the plans we will carry out with our year end bonus. We have already lined up a string of events which we are going to splurge on, and have soon- to-be-bought outfits picked out mentally. In addition to that we have, the vacation plans, the children’s school apparel and school stationary for the next year. We basically plan out an entire budget (read: splurge) from our upcoming bonus. The elusive 13th cheque It may happen that one is so accustomed to receiving their bonus cheque every year-end that it ends up being a customary thing; where no consultation is had and there is an expectation that this will definitely come to pass. However, most companies give 13th cheques based on the performance of the company in a particular financial year. Other companies offer a bonus on the premise of whether an individual has performed their duties exceptionally or not. As such, it is always important to never just assume that you will receive a bonus. It is important to inquire with human resources, the company accounts division or your immediate supervisor. This will assist in managing expectations from friends, family and yourself about what you can or cannot spend on. [bctt tweet=”Most companies give a 13th cheque based on the performance of the company in the financial year” via=”no”] Money makes the world go round… Or does it? There are a myriad of things that money can help us achieve. But, is it the be all and end all of our lives? Oftentimes companies are not able to pay out bonus cheques in a particular year. In this case, it is advisable to have a financial safety net which will assist with the year end and early year costs which come after festive shenanigans. In order to ensure that you are not caught between a rock and a hard place; the first step to building a healthy financial lifestyle would be to save a portion of your monthly income. A little bit every week or month (depending on your remuneration structure) will definitely will go a long way. The myth about ‘goals’ In the 21st century everything either qualifies as or is a goal. An aesthetic, something to live up to. Everyone is in a perpetual and often self-inflicted rat race. We want to be better, own more, drive the best and live in an affluent neighborhood. Even if all of this at an often high cost to the self. Alleviate this pressure by being certain of your finances before making commitments. No is a complete sentence We need to learn the art of saying no to situations which do not grow us or expand our territory. The aim is to lead a life that will not be drastically altered whether you receive your bonus or not. It is possible for one to lead the ideal life without having to break the bank to get there. It requires self-discipline and a huge dose of honesty. [bctt tweet=”You should lead a life that will not be drastically altered whether you receive your bonus or not” via=”no”] Bonus or no bonus? The aim at all times should be to ultimately lead a life of financial freedom. If this means having a side business/job on the side, then so be it. Truth is that for most of us, one source of income is not enough. Some are fortunate to have partners who balance things out in the home because of a dual income. However, it is possible to live your best life and stay out of debt at the same time. Financial freedom should be the new cool, the ultimate aesthetic. Do you have any financial tips on budgeting for the festive season? If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
How to effectively manage contracts in freelancing
[bctt tweet=”3 tips on how to beat procrastination as a freelancer” username=”SheLeadsAfrica”] Once in a while, a freelancer finds herself under the obligation of completing contracts for a period of months. Usually, emotions go from really excited (about that money of course) to interesting, to daunting and finally, to lethargic. As is human nature, procrastination creeps in, like a thief in the night. (Okay, that last bit was too much, but you get the point). So, below are tips on how to crush your contractual freelancing gig like a #MotherlandMogul. Bullet journals Yes, I know, journaling is a task on its own, but bullet journaling helps greatly when it comes to actually doing your job. It basically consists of to-do lists organised on a daily basis. All you need to do is tick off each item on the list at the end of each day. This helps you cover every detail on the job. It also forces you to think about the development process of the task ahead. Think I am kidding? This is one of the most agreed upon activities to increase productivity. Set an agreed time to update your client Usually, a client that has no time during the entire contract, or one that has no idea of what is required, will start pushing you around at the last minute. They will then get to asking the most ridiculous questions, which can turn into a circus, to put it gently. We also cannot fail to discuss a particular nagging client that lives to terrorise your sleep, and operates in opposite time zones. For such clients, it is necessary that you provide updates as regularly as possible. Agree upon a date that works for both of you. This way, if you go off-track from the results expected, your client can easily guide you to what is required. [bctt tweet=”Contractual jobs in freelancing should not cause chaos, handle them by managing your time & client” via=”no”] Money upfront Usually, you will not miss a particular client that will ask that you complete a portion of the work without pay ‘just to see how you would fare’. What happens is that such a client will take your work, approach another freelancer, and go ahead and ask her to ‘show him/her what they can do’ without pay as well. If such a client approaches you, provide a sample of previously done work that is similar to what is required. Always agree on being paid a portion of money before you start off. Alternatively, have a third party withhold the money until various obligations are met. Other than managing your time and client, contractual jobs in freelancing should not cause chaos. These are actually some of the most envied jobs in the freelancing world so, eat your cake Mogul.
8 money tips from African finance experts
[bctt tweet=”We share inspirational finance tips from 8 African finance experts to get you going” username=”SheLeadsAfrica”] Where has all the money disappeared to? This is the age where financial literacy for women is needed more than ever! Whether you are just starting out in your journey to be financially savvy or already an expert, these tips from African finance experts can be a quick reminder and will also inspire you to continue on the journey to financial freedom. Take control “…don’t relinquish the financial health of your life or home to your partner; always give your input and direction. Single ladies don’t postpone your wealth creation activities until after you are married (which is not guaranteed) or have kids (which is also not guaranteed). Start creating a legacy NOW. Set up your own family trust, establish and define your own investment philosophies. Every individual is ultimately responsible for his or her financial health and outcome. You can’t blame anyone else later in life if you are in financial distress”. – Samke Mhlongo-Ngwenya, Founder Justsamke.com The time to start is now! “Lots of people in their 20s don’t save or invest because they are waiting to get a better job or start a business to earn more money but the truth is most millennials spend 30-50 percent of their paycheck on entertainment while they claim they are too poor or too young to save and invest but the reality is by the time you get to your 30s you realize you wasted a golden opportunity… time! It’s better to start putting a little aside when you have minimal responsibilities and take advantage of the power of compounding interest. You have to find a balance between having fun and having funds. Sometimes It’s okay to miss out to stack up”. –Arese Ugwu, Author “Smart Money Woman” Take responsibility “You worked so hard for your money; you owe it to yourself to ensure you protect it”. –Nimi Akinkugbe, Author “A-Z of Personal Finance” Say no to overspending “In order to build wealth and actually accomplish your money goals, you have to keep your spending under control. Start by tracking your spending in a detailed way – one way to do this is by keeping spending journals where you write down every transaction you make every day for 30 days (reviewing your spending each evening). This exercise will not only show you trends of where your money is going but it will keep you conscious of how and when you are spending”. –Bola Onada Sukonbi, Certified Financial Education Instructor [bctt tweet=”Being financially conscious is not easy, it is hard work, but it can be done – Mapolu Makhou” username=”SheLeadsAfrica”] Be a budget freak “A useful tool is to budget. Create a budget and live on a budget”. – Omilola Oshikoya, Life and Finance coach Know The Difference “…there is a huge difference between savings accounts and investment accounts. Knowing this will help you plan better for the future, help you choose the correct financial products and set you on your way to financial freedom”. –Nicolette Mashile, Founder Financial Literacy with Nicolette Mashile Don’t do it alone, seek professional help “…use an experienced fund manager, portfolio advisor, investment advisor or whatever you call it to manage your entire equities. They have access to tons of historical data. And with their skills coupled with advanced analytical tools, they are able to advise on rates and purchase of equities to maximise the full potential of your returns. Also note that, the experienced middleman will advise you on risks and diversification plans.” –Abeena Brigidi, Investment Analyst Finally, I leave you with the words of Mapolu Makhou, Founder Woman and Finance, “being financially conscious is not easy, it is hard work, but it can be done. Nothing good ever comes easy! Stay committed”.