Category: Personal Finance
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Smart Strategies for Saving During High Inflation
In the previous article, we explored why saving and investing are critical, regardless of the economic cycle or inflation rate. This brings to mind a friend who lost tens of millions of naira in the stock market during the 2007 financial meltdown. He vowed never to invest again, choosing instead to enjoy the fruits of…
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Does Saving Money During High Inflation Still Make Sense?
Inflation has become an existential threat to many families’ finances. As prices climb, making ends meet becomes an even greater challenge. When the costs of food, transport, utilities, housing, and healthcare rise rapidly, it’s natural to wonder: Does saving money during high inflation still make sense? Or are we better off spending it now before…
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Staying Financially Resilient in a High-Inflation Economy
High inflation is here to stay—for how long, no one knows—and its impact is being felt worldwide, toppling governments and messing up personal finances. What used to work before may no longer work, and managing money to stay ahead of inflation has become an increasingly difficult challenge. Perspectives on Spending Versus Saving/Investing A friend told…
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Navigating Windfalls: How to Make the Most of Unexpected Income
Life has a way of surprising us, and sometimes, that surprise comes in the form of unexpected income. Whether it’s a bonus at work, a tax refund, an inheritance, or a monetary gift, knowing how to handle unexpected windfalls is essential for your financial well-being. In this article, we’ll explore smart strategies to make the…
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Are You Making the Most of Your Credit Card Perks and Protections?
Credit cards have become an essential tool in modern-day financial management. Beyond the convenience of making purchases, credit cards offer a plethora of perks and protections that often go unnoticed or underutilized. Are you taking full advantage of what your credit card has to offer? In this article, we’ll explore the world of credit card…
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Should Your Credit Score Determine What You Do With Your Money?
In a world where credit scores wield significant influence over financial opportunities, it’s natural to question whether they should hold the reins to our money-related decisions. Should we allow our credit scores to determine what we do with our hard-earned funds? This article delves into this thought-provoking question, exploring the implications and suggesting ways to…
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Mastering Your Finances: The Power of a Conscious Spending Plan
In today’s fast-paced world, managing personal finances has become more critical than ever. A conscious spending plan is a powerful tool that can transform the way you approach your financial decisions. Unlike traditional budgeting, which can sometimes feel restrictive, a conscious spending plan empowers you to align your spending with your values and priorities. In…
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Facing Financial Reality: Confronting the Fear of Opening Your Bills
Are you finding yourself with a growing pile of unopened bills, letting them collect dust as you avoid facing their contents? You’re not alone. The fear of opening bills is a common experience that many people share. However, avoiding your financial reality can lead to even more stress and complications down the road. In this…
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Exploring Healthy Money Behaviors: Your Path to Financial Well-Being
In an age where financial stability plays a crucial role in our lives, cultivating healthy money behaviors has become more important than ever. Whether you’re just starting your financial journey or looking to refine your existing habits, understanding and practicing healthy money behaviors can lead you toward long-term financial well-being. In this article, we will…
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Should a Couple Maintain Joint Accounts? Weighing the Pros and Cons
Managing family finances is an essential aspect of every home. As couples navigate their financial responsibilities, the question arises: should they maintain joint accounts? This topic has sparked debates among couples and financial experts alike. While joint accounts offer certain advantages, they may not be the best fit for every couple. In this article, we…