INSIGHTS: Here’s reason you should not jump at the next INVESTMENT without DYOR.
“Key to making better choices about your money begins with understanding your approach to earning, spending, saving & investing” - Alvin Hall.
Why it is important to invest, one needs to evaluate the objectives behind investment.
Investment objectives are basically three:- Capital Preservation, Capital Appreciation & Constant Income Generation.
When considering any of these types, you need to factor basic income & expenditures in your decision. Hence, one may go begging on the street after he/she might have finished money.
I remember my cowrywise experience.
I created a study plan objective, added money. COVID19 struck. I couldn’t withstand the heat. 😭
I begged for my money back but who will listen to my cries after my money is in safe lock in Cowrywise. O jimi lara je.
No all size fit investment plans. It is subject to your decision. If the goal is to go long term with your capital, you should consider Capital Appreciation. Saving money without a bonus or interest is a risky business except it is emergency funds. Every kobo count. You dey here?
If you’re a family man/woman with kids expenses & family burden. Don’t do pass yourself okay?!
Pick Capital Preservation.
You just want to preserve the cash until the expenses show. That is fine, with this plan you won’t have to start running away from debtors when they approach.
If you belong to the multipliers & maximalists group. Consider a Constant Income Generation (CIG). These folks are willing to take the risk overboard. Make some gains, lose some. But their goal is constant income. I hope you have been enlightened with this post. See you soon! 😊
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