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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4610614 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by tomtom370: 6:23pm On May 07, 2020 |
Thank you for the kind words. ![]() Interesting thoughts. But what spurs such saving/investing mentality in a child? Environment, education and exposure are strong determinants of an individual’s greatness or otherwise. Every child is often a product of the lessons learnt from his/her parent, home, school and all, that’s why kids who’re thought or perceived a culture of management/saving and investment from their parents will most likely follow suit, while those who grew up seeing their parents getting loans to finance parties and live outrageous life will mostly likely follow suit. It’ll take an extra form of personal introspection and pursuit for the kids from the outrageous background to outgrow and change that pattern, if he ever gets to see the other side of that life. So, yes everyone has got to be responsible for his or her own financial destiny, yet certain foundational traits trigger such instincts and idea in a child, primarily via the family. 9jatriot: 10 Likes 1 Share |
Re: Treasury Bills In Nigeria by ukay2: 6:32pm On May 07, 2020 |
9jatriot: Very Apt Sir. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:34pm On May 07, 2020 |
tomtom370: Very good summary. In the Millionaire next door, it was reported that Americans of Jewish, Irish and German origins have more concentration of the American millionaires. The Irish are the most frugal. Frugality is the starting point 15 Likes 1 Share |
Re: Treasury Bills In Nigeria by ukay2: 6:38pm On May 07, 2020 |
tomtom370: I read the Richest Man in Babylon in JSS 3.....that was when I learnt the habit of savings and that changed my life for good. I save any small gift i was given, later tell my parents to help me invest them so that the money will grow. It was small, but the habit became of me. 14 Likes |
Re: Treasury Bills In Nigeria by ukay2: 6:41pm On May 07, 2020 |
emmanuelewumi: It takes discipline to be Frugal and consistent with it. 3 Likes |
Re: Treasury Bills In Nigeria by tomtom370: 6:56pm On May 07, 2020 |
You started pretty well with good home support. A lot of people never had such exposure, experience or even motivation from the home or environment. Na school of hard knocks reshape us, though, it was almost too late to catch up. Back in secondary school, I had a friend who would hustle and give his mum some money to save for him. Guess what, the mum was spending the money. When it was time for him to retrieve the money, story start. Invariably, that’s a point of discouragement to work, earn and save. If everyone can learn to live within/below their means, no one will be a financial burden to another person. ukay2: 6 Likes |
Re: Treasury Bills In Nigeria by 9jatriot(m): 6:59pm On May 07, 2020 |
This is one of the first book any potential investor should read. The lessons are timeless. ukay2: 1 Like |
Re: Treasury Bills In Nigeria by ukay2: 7:00pm On May 07, 2020 |
tomtom370: Nawaoooo Mother chopping child's savings Quite discouraging. 7 Likes |
Re: Treasury Bills In Nigeria by IamR: 7:02pm On May 07, 2020 |
ukay2:No be today. |
Re: Treasury Bills In Nigeria by ukay2: 7:03pm On May 07, 2020 |
9jatriot: Soft copy is freely available online for e-library. The principles in that book is still applicable today. |
Re: Treasury Bills In Nigeria by ukay2: 7:08pm On May 07, 2020 |
IamR: But we need to teach our children the disciplines we learnt so that it will be sustainable and generational. Most children will wants all the goodies of life forgetting how parents built the wealth. Some get squandered with bad influence in town. 2 Likes |
Re: Treasury Bills In Nigeria by IamR: 7:09pm On May 07, 2020 |
ukay2:Absolutely correct! |
Re: Treasury Bills In Nigeria by ukay2: 7:13pm On May 07, 2020 |
tomtom370: Mmmmmm Oga I suffered ooo Infact I hear qwiiii no be small Na God safe me oo Lost parents long time ago at that affirmative age I have to learn and hussles to take care of my education the hard way. But God's grace and favour were bountiful to me till today. 4 Likes |
Re: Treasury Bills In Nigeria by mymadam(m): 7:49pm On May 07, 2020 |
Re: Treasury Bills In Nigeria by LordAdam16: 7:49pm On May 07, 2020 |
ukay2: It has to become a cultural thing for it to be pervasive enough to engender lasting change. Confucius harped on saving. He was born in 551 BC. Saving is an integral part of the Chinese identity to this day. Indians are infamous for being thrifty. The Japanese are infamous for their discipline. The Jews are infamous for being thrifty and creating wealth. The Germans; well we call them "machines" for a reason. All 5 ethnicities represent the best of humankind. And if anything catastrophic were to happen, it'd be a bad choice to bet against any of the 5 re-emerging to take a leading role in world affairs. Teaching your kids the tenets of saving and investing is as important as giving birth to them; but we need a vast societal support system to make it not seem like a losing fight. If you've ever attended a Bar Mitzvah or Bat Mitzvah or Chinese New Year gathering, you'd understand why. It's one thing to create a piggy bank for your kid, it's a whole nother ball game for your entire community to drill the concepts of saving, compounding, investing, excellence, and discipline from the Synagogue or Shinto Shrine to the playground to successful relatives and relatives of friends and acquaintances and more. Our culture is too consumerist. It's a consequence of a few things I wouldn't go into; but the worst part is we simply do not yet appear to have the ability to correct course. -Lord 22 Likes 3 Shares |
Re: Treasury Bills In Nigeria by ojesymsym: 7:54pm On May 07, 2020 |
You have a very strong point here, as long as it is not part of the norm in the society, it becomes an uphill task. Your own children can end up revolting against you because everywhere outside they hear something different from what you are teaching them. LordAdam16: 5 Likes 1 Share |
Re: Treasury Bills In Nigeria by tomtom370: 8:09pm On May 07, 2020 |
Wow! Thank God you’re better off now. Quite sure everyone has an experience/story with suffering, though relative. Suffer pass suffer. The main thing is not to forget to learn the most valuable lessons through every process. ukay2: 3 Likes |
Re: Treasury Bills In Nigeria by LordAdam16: 8:15pm On May 07, 2020 |
ojesymsym: A revolt is possible but somewhat pessimistic. The importance of a society-wide support system rests on a very commonsensical understanding of human nature. A Math tutor told my class--"Want to be good at Maths; solve a mathematical problem everyday. Any problem." Writers are encouraged to write something every day, like Hemingway. Religious leaders encourage the pew to pray and study religious texts as often as possible, preferably every day. The best athletes never stop practicing--10,000 hour rule. We are all sieves, kids moreso. And we pick a lot of stuff subconsciously. Infusing the principles of saving and investing in most of what we do culturally makes your job as a parent much easier, makes it easier for kids to internalize good lessons--practically makes it seem normal, and makes it easier to achieve widespread financial education; as kids will learn at different paces (and a lot of time from indirect sources). Unfortunately, we are not yet there as a society where we're thinking in this direction. The vast majority are just trying to survive, leaving little time or will to design and develop a system where we don't just thrive but prosper. -Lord 11 Likes |
Re: Treasury Bills In Nigeria by tomtom370: 8:16pm On May 07, 2020 |
Very apt! The next question would be; how do we influence, perhaps, kickstart this culture? LordAdam16: Influence is a major tool of behavioral and social reformation. The journey to this cultural/social shift has to start with individuals who will then influence those around them, especially, within the family space. The sequence, I presume, will be: Personal - Family - Neighborhood - Network/Social Circle - National. Trust me, this isn’t a 5-10 years goal. ojesymsym: 4 Likes |
Re: Treasury Bills In Nigeria by Phyde: 8:17pm On May 07, 2020 |
Re: Treasury Bills In Nigeria by ukay2: 8:34pm On May 07, 2020 |
LordAdam16: I think INVESTMENT and FINANCIAL INTELLIGENCE should be a course from secondary school to university. This may help the youths in gaining this wisdom early enough before earning income. People like Pa. Emmanuelwumi can be in the national television or radio in educating the youths about his experiences in investment. Most of us were not taught Investment in schools but were favoured to meet like-minds 9 Likes |
Re: Treasury Bills In Nigeria by ukay2: 8:37pm On May 07, 2020 |
tomtom370: But it's achievable 1 Like |
Re: Treasury Bills In Nigeria by ojesymsym: 8:42pm On May 07, 2020 |
While this may work in theory but there is no evidence to suggest that we will not just cram to pass the exam because I know many graduates of business admin and economics who are not savvy investors. Even investment bankers can give you sound investment advise in the bank but many of them do not believe or practice what they preach. As long as people still believe that delayed gratification is poverty or selfishness, it will be a hard but to crack ukay2: 5 Likes |
Re: Treasury Bills In Nigeria by ukay2: 8:46pm On May 07, 2020 |
ojesymsym: Very true. Practical aspects are very important. Nothing is like being in the fields of INVESTMENT |
Re: Treasury Bills In Nigeria by Crazeworld(m): 8:49pm On May 07, 2020 |
Kudos to the people making this thread run daily. This is one of the few threads on NL that people act as 'humans' instead of Nigerians. Even though I might not yet understand everything I read (due to the business terminologies), thanks for sharing with people like me your invaluable wealth of knowledge. I hope to be able to share this knowledge with others too someday. 27 Likes 1 Share |
Re: Treasury Bills In Nigeria by bmarketing: 8:59pm On May 07, 2020 |
Crazeworld: Sure thing... Simply one of the best threads I've stumbled upon...We die here lolz. Thanks to the bosses in the house for their immense information! 5 Likes |
Re: Treasury Bills In Nigeria by abraolas1: 9:00pm On May 07, 2020 |
Crazeworld: the amount of knowledge I have gain here is immeasurable.as I just come here to learn everyday ... thanks to Mr emmanuelwunmi ,oga ahib madam sholapey , oga 9japatriot.. and the host of others... God bless you all real Good 8 Likes |
Re: Treasury Bills In Nigeria by LordAdam16: 9:38pm On May 07, 2020 |
tomtom370: I'd leave that for the floor to answer. Although I have my theories, I'd like to think there's just not one [good] answer to that question. Influence is a major tool of behavioral and social reformation. The journey to this cultural/social shift has to start with individuals who will then influence those around them, especially, within the family space. I believe this is a viable option. Perhaps the far more doable option. Essentially, the individuals would act like seeds and pillars in their respective microcosms. It'd not be without its caveats tho'. Including elitism, continuity, ego, and I'm just scratching the surface. An alternative approach, would be a top-down sea change. It's how most enviable ethnicities built their cultures. But we'd be trying to cram millennia worth of change in only a few decades. It'd also require the participation or at least support of all of the numerous branches of elites in most of the influential sub-nationalities. The problem is I don't know if we have it in us to be able to mobilize such an effort. There is simply no evidence, at this time, that we indeed possess the ability to conjure the level of strategic, long-term thinking, coordination, and troubleshooting necessary for that to happen. And I don't mean the obvious ethnoreligious bad blood and distrust. That's surmountable. We've had about 10m deaths from such tussles since inception. That doesn't count as a crisis by Chinese, Indian, or Japanese standards (no one had smooth sailing). I mean how do we convince the absurdly myopic elites of all stripes we're saddled with--whether political, of the traditional institutions, intellectual (from academia), and what not--to commit to a cultural revamp with 20, 50, 100-yr objectives and timelines. Again, this is why I said, I'd leave coming up with a way to engender a cultural shift to the floor to answer. Surely, someone has given this more thought than I am and have a fool-proof plan. That said, the obstacles probably make it more realistic to imbibe what you can in your children; make it sort of a family tradition; and leave them as much lifeboats or rafts (most colloquially call this "connection" or "who you know" ) as you can. Some families in Nigeria have been able to accomplish this. If it will be sustainable, generational, or *gasp* society-wide is up in the air until there's some cultural support system. Essentially, it's do your part and hope for the best. Sounds defeatist, but no one ever said realism has to be pretty. -Lord 4 Likes 1 Share |
Re: Treasury Bills In Nigeria by oluwaleokey: 9:43pm On May 07, 2020 |
emmanuelewumi: Talking about being frugal, sometimes i really find it difficult being stingy with some things... I dont care about material stuffs... designers clothes, watches etc But when it comes to my children education,healthy food, supplements etc i tend to even spend more than my budget, i mean get the very best... Would you still consider my actions to be reckless spending when there are cheaper alternatives? A typical example during wifeys pregnancy, i go for the best foreign pregancy drug which cost about 8-9k per pack while the local drugs at federal hospital can be gotten at 500 naira per pack... of course people do take... Just want to understand you perfectly well when you say being frugal 2 Likes |
Re: Treasury Bills In Nigeria by emmasoft(m): 10:03pm On May 07, 2020 |
oluwaleokey: Being frugal most times start from the mentality of placing the right value on things without sentiment or emotion, delaying gratification and having in mind that the most expensive things does not necessarily mean the most effective. 21 Likes 2 Shares |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 10:06pm On May 07, 2020 |
oluwaleokey: Just do what you think is best for you and bear the consequences |
Re: Treasury Bills In Nigeria by averagejoee: 10:16pm On May 07, 2020 |
Honestly we need to give all the bosses thumb up, from Feelamong the originator of this thread, pa emmanuel, ukay2, the oil man ahiboilandgas and so many others here. Honestly there are thousands of silent followers who are reading this thread.I remember i was seeking advise from feelamong on investing on the FGN SUKKUK bond, thank God i followed his advise to lock up the fund imagine coming from a rate of 18.5% to the ridiculous 3.5% Crazeworld: 7 Likes 2 Shares |
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