Tag: Financial Literacy
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Spending to Impress 1 – My Mercedes is Bigger Than Yours
In today’s Nigeria, I think “My Range Rover is Bigger Than Yours” is more apt. I had fun coming up with the topic for this post. Apart from “Decision Quality” which I will take in another series, I thought of fun themes like “My Generator is Bigger Than Yours”, “My Neighborhood is Fancier Than Yours”,…
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Invest in Yourself
Before you consider investing in any business, you have to first invest in yourself. This involves investing in your financial education, to understand the world of money, investment, personal financial management and business intelligence. This enables you to know what you are doing, and in Nigerian parlance “shine your eyes”. If you do not know…
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Your Investment Should Make Sense When You Buy, Not When You Sell
Lesson 6 from Lessons From Our Last Nigerian Stock Market Fiasco Most folks invest based on the hope of a future profit, often peddled by financial advisers. This hope is often based on anticipated events that are outside the control of the investor, hence can go either way. There is nothing wrong with potential future…
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Have Control Over Your Investment
Lesson 5 from Lessons From Our Last Nigerian Stock Market Fiasco The best way to determine the outcome of your investment is to be in the driver’s seat, rather than hand over control to some stranger, walk away, and go pray for the best. Before you invest in any business, you need to invest in…
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Do Your Own Due Diligence
With the new year well on its way, I am resuming Lessons From Our Last Stock Market Fiasco Lesson 3 from Lessons From Our Last Nigerian Stock Market Fiasco 3) Do not rely on your broker and analyst/advisor – do your own due diligence Most people leave their investment decisions for others to make. They…
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Poverty is a state of the mind, not state of your finances
Poverty is a state of the mind, not a state of your finances. This will come as a shock to a lot of folks. This places the blame on our present financial state right at our doorstep, not somewhere else. Accepting blame is not a comfortable place to be. We would rather ship the responsibility…
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Financial Freedom: Assets and Liabilities Definition For Everyday Folks
We generally think of assets as anything that has value, and a liability is something that is a burden, which we can gladly give away for free if need be. I often get into arguments with folks, when they ask why I refuse to buy what everybody is buying, and I tell them it is…
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Lessons From Our Last Nigerian Stock Market Fiasco
The crash of prices of stocks in the Nigerian stock market, and globally is no longer news. Stock markets go through cycles of boom and bust, ups and downs, and once in a while a tsunami the type we just witnessed. It comes with the terrain, and it is not new to thoroughbred investors. There…