Invest. Ok let me ask how can l invest 1m and make profit.

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

save your money with piggyvest, cowriewise or branch etc they offer more interest than banks and you can easily track every interest and no hidden charges

mummyz:
I will rather save my money with PIGGYVEST than any banks, daily turnover on your Flex account is more than what all this banks can offer.

Seriously, how does the piggyvest work?

Saving. Especially if you are not a shameless hustle( Can you take risk and get proactive when orignal plans change?) if you want to do business, please use just 60% of your savings. dont invest everything

engrfaruq:


Okay

0810051two two seven zero

investment is the best option especially for those of us in Nigeria. Saving your money in Bank will not add any value to u instead it will depreciate the Original amount in your bank account. Inflation has taken over Nigeria economy system which has depreciated our currency. for example, the value of one million Naira as at two years ago is far more better than the value of Current one million Naira. This shows our currency lose value as time goes on. when u invest ur money there's a tendency for growth in ur capital which will add value to u economically by making u richer more than u where in ur previous level. Investment is a wise decision.

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

Ensure you don't leave that Money in naira while you are thinking of what to do.

Like for me, I save with Piggyvest and once I meet my target I convert it to dollar on Piggyvest OR USDC OR USDT on Luno/Binance.

I am yet to decide what other investment to go into aside my present business but while I am still thinking of what to invest in, I wouldn't want inflation to eat up the value of my sweat

dingbang:
Both arent advisable in nigeria. .

Just chop from the national cake and you will be alright

Lol!

U no well walahi

Loveknitting:


Lol!

U no well walahi

but na true na.. If you enter govt, you go dey alright.

lets critically analyse people will always say investment! but i m not so sure these days its better to play safe than risk=investment! my brother is the saving type and i m the investing type and i v been losing money from one bad investment to the other and my brother has been saving every nikel in the course of 10yrs he has 2 houses in abuja one house in lagos and a house in kd and he is worth at least 20million and i dont have even 1 million! as much as it pains to say but 'a bird(savings) at hand is worth more than two(investment) in the bush! and a patient(savings) dog always eat the fattest bone! hope u get my point

Oga me @ slawomir, I swear down na true you yarn oo.... 10 wraps of mushin weed for you..

michlins:
You need to save first if your income isn't much.

As your income expands, you can start investing

nice comment

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

Download branch loan app & invest with them for 20% interest ..

Every monday there is a payout of interest

U can also withdraw anytime you feel like

Ayilara1:
Go and buy land in ogbomosho - invest

is land cheap in Ogbomoso?

Rate of inflation is faster than whatever any Bank or Bond can give you as interest ....

Bro make we relate small...abeg .. pministryco at gmail dot com

slawormiir:
Damnnn niggar
Investment anyday anytime twice on Thursday...

But as you are investing... also be flexing and enjoying

Don't be investing alone for a future that is not guaranteed...

The worse part na those way dey save only....saving for tomorrow that is not sure...
Yesterday small thing enter my account...the first thing i do....I update some alcoholic wine for my low budget ass bar shaperly...buy enough weed...then maybe later....me and my niggarrrrs go book hotel....update one or two beautiful slim runs babe take follow up...after all these before I go dey think of investment and savings..if at all I go even invest and save from the money self
I can not come and kill myself for tomorrow that is not guaranteed

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

Truth is Investment in Nigeria has high negative side that positive sides �

InvertedHammer:
/
The worst thing you can do is to leave your money in the bank. By fractional reserve banking, the bank can only keep a certain percentage (about 10%) of your cash available. The rest they give out as loan earning about 15-20% and pay you 2% interest.

Money in the bank does not adjust for inflation. Let's take N100k for example. N100k in 2015 does not have the same purchasing power as N100k in 2021. Nigerian bank may pay 2% interest on it but will find ways to run the fund down through charges like sms notifications, stamp duty, NIP + VAT, etc. In other words, the bank will milk the whole fund through spurious charges.

Invest your money. Invest wisely.
/

white angels keep up your good work till every black slaves is enlightened

some people dont know Nigerians are going through the fastest and worst inflation in Africa and the world -29
Nigeria is going through stagflation and hyperinflation at the same time

Between the devil and the deep blue sea.
Investment can go wrong,
To save is like to do without sin.

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

Your post caught my attention. What investments have you tried through people and failed? Can you summarise?

InvertedHammer:
/
The worst thing you can do is to leave your money in the bank. By fractional reserve banking, the bank can only keep a certain percentage (about 10%) of your cash available. The rest they give out as loan earning about 15-20% and pay you 2% interest.

Money in the bank does not adjust for inflation. Let's take N100k for example. N100k in 2015 does not have the same purchasing power as N100k in 2021. Nigerian bank may pay 2% interest on it but will find ways to run the fund down through charges like sms notifications, stamp duty, NIP + VAT, etc. In other words, the bank will milk the whole fund through spurious charges.

Invest your money. Invest wisely.
/

FCMB will finish that money through different monthly charges. I had like 2k with them, within two years that I abandoned the account, the account balance started displaying negative Naira (debt). Lol

The present economic situation does not encourage savings.in period of inflation as we are experiencing borrower gain while lender loss.Also there is pressure on business activities as sellers are constantly in need of capital as profit is not enough addition to do another round of purchases.
It does make economic sense now to save in saving account,bond mutual fund etc because of value erosion.Also no one knows the future ,as Keynes opined during economic depression of 1930 ,that in future we are all dead.
Investment that keep the value of asset irrespective of time and generates profit continuesly is the best.

I am thinking of opening a food store..form of Mini supermarket..but would also sell retail ..I pray it yields o..being broke is no fun I swear..need to always make money everyday ..at least 3k a day or more .

Investment is better.

Stankovic22:


Ensure you don't leave that Money in naira while you are thinking of what to do.

Like for me, I save with Piggyvest and once I meet my target I convert it to dollar on Piggyvest OR USDC OR USDT on Luno/Binance.

I am yet to decide what other investment to go into aside my present business but while I am still thinking of what to invest in, I wouldn't want inflation to eat up the value of my sweat

I figured converting to dollars in piggyvest is 565naira per dollar but while converting back to niara is 550naira, please how do go about it considering the is lower when u want to make withdrawal back in naira or is there other way out.

engrfaruq:
That's my major issue currently. I have money laying fallow in my account and I don't feel comfortable with that. I've searched for investment opportunities and I've tried some but they all fail due to representation, cos I'm not available to oversee them. Nonetheless, I still believe investment is far better than saving.

You can buy land in a viable developing area and hold pending when it appreciates substantially and resell. Leaving your money in the bank will leave it at the mercy of inflation. 20k last year is worth far less this year.

slawormiir:
Damnnn niggar
Investment anyday anytime twice on Thursday...

But as you are investing... also be flexing and enjoying

Don't be investing alone for a future that is not guaranteed...

The worse part na those way dey save only....saving for tomorrow that is not sure...
Yesterday small thing enter my account...the first thing i do....I update some alcoholic wine for my low budget ass bar shaperly...buy enough weed...then maybe later....me and my niggarrrrs go book hotel....update one or two beautiful slim runs babe take follow up...after all these before I go dey think of investment and savings..if at all I go even invest and save from the money self
I can not come and kill myself for tomorrow that is not guaranteed

Some atom of truth here tho

I think it's quite hilarious what some are saying....
We all know the average Nigerian is trying to keep his head above water...
Investment is a wise move but there are numerous people who don't have money to invest at the moment...

elganzar:
Saving is NOT investment


Saving is mere accumulation_ and can come in any form and it comes with very little/ no risk

Investment on the other hand is spending the money to make more money _ and it comes with risks of different (but higher) degree (compared to savings)

If you don't have heart or ready to embrace the fact that your money could be lost at anytime _ Investment is not for you

It's a trick question, and circumstances decide which is better

Saving equals investment in the long run s=I

Anndrew:
greed is the world here...

Lesson has been learnt, I have moved.

Pointless flogging a dead horse

You can never be rich by saving your money, but you can be extremely rich by investing your money. Make sure you study the market and invest wisely - This is not a financial advise!

[quote author=emmadejust post=107132846]

Download branch loan app & invest with them for 20% interest ..

Every monday there is a payout of interest

U can also withdraw anytime you feel like [/quote
How does it work?