Popular Articles
Building an emergency fund on a low income is difficult, but waiting until you earn “enough” can leave you financially...
Learn how to create a realistic monthly budget based on your actual income and spending. See how to plan for...
An emergency fund does not have one universal target. Learn how to calculate the right amount based on your essential...
How much should you save from a ₦500,000 salary? There is no universal percentage. Learn how to calculate a realistic...
How much should you save from your salary every month? There is no universal percentage. Learn how to calculate a...
Paying off debt faster isn't about throwing every naira at your loans. Learn how to prioritize expensive debt, build a...
Make Money
You do not always need to start a business with a large amount of money to increase your income. A skill you already have can become a source of additional income when you identify a problem people will pay you to solve, package your skill into a clear service or...
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Business
You can start a car rental business with one vehicle rather than building a fleet immediately.
Chauffeur-driven rentals, corporate transportation, airport transfers and event transportation are possible business models.
Your first vehicle should be selected according to customer demand, reliability, fuel consumption, maintenance cost and resale value.
Vehicle acquisition is usually the largest startup expense.
Do not calculate profit from rental income alone. Fuel,...
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Personal Finance
Having more than one source of income can improve your finances, but only if you manage the money properly.
A salary,...
You don't necessarily have to choose between paying debt and saving money. Learn how to build a financial cushion, prioritise...
Learn how to build a realistic family budget based on your actual income and expenses. Includes examples for households earning...
Saving money can be difficult when most of your income already goes toward essential expenses. Learn practical ways to reduce...
Investing
An FGN Savings Bond is a government debt security issued by the Federal Government of Nigeria through the Debt Management Office (DMO).
When you buy one, you are effectively lending money to the Federal Government.
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A government bond is a debt investment issued by a government to raise money. When you buy an FGN bond, you are effectively lending money to the Federal Government of Nigeria.
In return, the bond normally pays interest, known as a coupon, during its life, while the principal is repaid at...
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A bond is a debt security that allows an issuer to borrow money from investors. The investor becomes a creditor rather than an owner of the issuer.
In return, the issuer may make periodic interest payments, known as coupon payments, and repay the bond's principal at maturity.
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A fixed deposit is a deposit arrangement where you place money with a financial institution for an agreed period in exchange for interest.
Unlike a normal savings account, a fixed deposit is designed for money you can leave untouched for a specified period. The interest rate and maturity terms are agreed...
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Money market funds and Treasury bills are both relatively conservative investment options, but they work differently. Treasury bills are short-term government securities that you buy through an authorised channel, while money market funds are collective investment schemes managed by professional fund managers.
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Banking
Contact your bank or financial institution immediately after discovering the wrong transfer.
Keep the transaction receipt, reference number, date, amount and...
Starting a POS business in Nigeria involves more than getting a POS terminal and finding a busy location.
You need enough...
How Bank Transfers Work in Nigeria: NIP, USSD, Mobile Banking and What Happens When a Transfer Fails
Bank transfers have become one of the most common ways Nigerians send and receive money, but many people do not...
A bank statement is a record of transactions and activity on a bank account over a specific period. It can...
Money Truth
Having a large amount of money in your bank account can make you feel financially successful, but your bank balance is only one part of your financial picture. Wealth also depends on what you own, what you owe, how much you earn, how much you keep and whether your assets...
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You can earn more money and still fail to reach your financial goals. The problem is often not simply how much you earn, but how your goals are structured, how you handle irregular expenses, whether you save before spending, and whether your financial plan can survive a normal month. This...
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A salary increase can improve your finances, but only if part of the additional income is converted into savings, investments, debt reduction or other lasting financial progress.
If your expenses rise as quickly as your income, you may earn more without becoming significantly wealthier.
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Paying off debt faster isn't about throwing every naira at your loans. Learn how to prioritize expensive debt, build a basic emergency cushion, reduce expenses, increase income and create a realistic debt-payoff plan.
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