It’s The Weekend, Try These…..

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Hello Fam,

Lemme guess, you must be thinking what is it again this Saturday afternoon, why I’m I receiving yet another email from my beloved lender? Well…. Please be at peace, we are not here to sell to you again, well we would love to as that’s why we have you on our mailing list … lol but nope that the last thig on our mind today… we are here to check in on you… how is your Saturday going? What are you up to? The weekend is here.. what do you do?

Saturdays are for rest trust me you need it even in the most torturous times where our country is at the moment, we all need to rest mentally although a little more sleep and a little slumber and the proverbial poverty comes in… but as Nigerians we would loudly say… abeg.. I can’t come and kill myself.

So, you beloved company that has your best interest at heart is here to check in on you and tell you that the best times to have vital rest is the weekend. We have toiled from Monday to Friday tilling the earth, well literarily and find the treasures that we all seek, so what more to do today than rest. We are here to tell you some ways to rest.

  • Bond with Family- Schools are on long holidays, well I’m not sure of this is good news as I read online yesterday a lady complained bitterly saying she has become a judge to over 100 cases since she came home, she was shocked the house which she spent million on interior décor would look like the amazon forest of Brazil, but that’s the reason why we work for those tiny soldiers, to have the best life and relax in their natural habitat. These children are our pride, our joy and most of all our future. Let us spend more time with them this weekend, there’s nothing wrong with judging 100 cases or more but ensure to be impartial. Cook for them, tell them about your childhood.
  • Go out with your spouse- the most you have seen your spouse are the few minutes before work and when you come in late, this about the time to catch up with what’s happening in their life well you are free to discuss Nigeria and how the dollar is racing against what we really can’t tell. So, it’s a good time to plan for tomorrow as the times seems hard.
  • Go watch a movie – Driving out together and having a chat has proven to reduce depression in over 45% adults and helps to reduce divorce in over 25% marriages. We don’t know about these statistics, but we can urge you to try driving out and catching a movie to see if unresolved issues would be closed out. If it works, then maybe we can open another business in CDL.. lol
  • Cook together- Sharing they say is caring, lets see how best you can share the kitchen, be careful though there are sharp objects around so if you know you easily get claustrophobic when someone is around you, please walk away, but cooking together helps to create more bond according to several research.
  • Attend Service together- for our Christian folks while we know you can do this online now especially after the pandemic, we recommend you drive as a family to church, the process of dressing up together, eating breakfast as a family and driving to church gives a level of fulfillment. Yeah a high level of happiness we suggest you try it.
  • Stay away from Social media- Take a break from social media, recall this is practically a family bonding time so your phone should be on break for the next few days, while you can have phone breaks inbetween to check if that boss has sent you a message, yes we know them,… I mean those restless bosses who love work…. Lol but that what pays the bills. So check at intervals and know how best to balance it all.

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Financial Intelligence – Coping With The Rising Cost Of Living

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Financial Intelligence – Coping With The Rising Cost Of Living

Financial Intelligence – Coping With The Rising Cost Of Living- The pressure of spiraling living costs is a major concern among many households. Events across Nigeria and the world have created a perfect storm that is increasing the cost of living. Everyone will feel the pinch but most especially those on a lower income.

An unfortunate conflation of different events means that it’s very likely that you’ll face an increase to your cost of living during the 2022/23 year. Majorly but not limited to:

  • Rise in inflation
  • The increasing cost of oil which in turn will push the price of petrol

Everyday items such as groceries and fuel alongside inflated interest rates are the biggest worry as in many cases it feels impossible to cut-back. For this reason, we need to find other ways to carry costs and keep life as normal as possible without additional financial stress.

Here are 5 fairly easy, practical and straightforward ways to manage your finances to help you cope with the rising cost of living. Even if you can implement one or two, it will bring a welcome relief to your possibly strained finances.

  1. Know your finances

A good first step to help you manage your day-to-day finances is to know exactly how much you’re spending, and what on. Once you know what you’re spending, it’s easier to make plans to reduce your expense.

Find out where your money’s going and being spent. It sounds obvious, but we may not realize exactly how much we’re spending each month – and what we’re spending it on – until it’s laid out in front of us. Having a clear picture of your finances will help you understand how much money you have to work with each month.

Set up a simple spreadsheet that outlines your regular non-discretionary outgoings. The easiest way to do this is to list your monthly direct debits and standing orders.

Review your last three bank statements and spend some time going through them, highlighting any areas where you think you’re spending money unnecessarily or spending too much. This could be on anything from a top of the range broadband package that you don’t need, to a mobile phone contract where you’re paying for data you don’t use.

Take a few minutes and cancel any subscriptions you don’t really use to save yourself a bit of cash. Cancelling direct debits you no longer need is one of the quickest ways of saving money and you’ll see the benefit within the space of a month. Read more

Four Big Secrets You Need To Know About Loans

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Life would be a whole lot easier if we never had to be in debt and if magically, we always had access to like N1,000,0000 at our beck and call. But even though our chances of never having to take a loan are slim, we can still manage and maximize the loans we get.

So let me share 4 secrets about loans which you need to know.

Trust me – you’ll be managing your loans better as long as you know these tips by heart.

SECRET 1:

When you apply for a loan the lender wants to know you can pay back the money as agreed and so will look at your creditworthiness or how you’ve managed debt and whether you can take on more. This is done by checking what’s called the five C’s of credit: character, capacity, capital, collateral and conditions.

Character refers to your credit history, or how you’ve managed debt in the past. You start developing that credit history when you take out credit cards and loans.

Your capacity refers to your ability to repay loans. Lenders can check your capacity by looking at how much debt you have and comparing it to how much income you earn.

Capital includes your savings, investments and assets that you are willing to put toward your loan.

Collateral is something you can provide as security, typically for a secured loan or secured credit card. If you can’t make payments, the lender or credit card issuer can take your collateral. Providing collateral may help you secure a loan or credit card if you don’t qualify based on your creditworthiness.

Conditions include other information that helps determine whether you qualify for credit and the terms you receive. For instance, lenders may consider these factors before lending you money: How you plan to use the money & External factors like how the economy is, federal interest rates and industry trends—before providing you with credit.

The five C’s of credit help lenders evaluate risk and look at a borrower’s creditworthiness. They also help lenders determine how much an applicant can borrow and what their interest rate will be. The five C’s of credit are also important for you to understand whether you want to apply for credit. You can use them as a checklist to guide your own finances. It may be helpful to keep the five C’s of credit in mind as you build credit and work toward your financial goals. Showing a history of responsible credit use that reflects the five C’s of credit can put you in a better position to get the financing you need. Read more