Building savings and investment culture among Nigerians

Many Nigerians today live below the poverty line not necessarily because they have low incomes or poor salaries, but perhaps they lack savings and investments culture. The Harmonized Nigeria Living Standard Survey reports that Nigeria spends about N25 billion daily on food items. There is high propensity to consume but low propensity to save. This is quite alarming for a developing nation. High consumption would mean low savings, low investment,...

Read More

How to select the right fund manager for your mutual funds

In my previous article, I wrote about the reasons why mutual funds remain the investment of choice for new retail investors. However, it is important to be circumspect when choosing a fund manager. Here are what to look out for before sending your money to a fund manager.  • Know if the fund together with its manager are listed on the website of Securities and Exchange Commission. This is very important as a number of fraudulent schemes are...

Read More

Why Mutual funds remain the investment of choice

Mutual funds is an investment instrument designed mainly to gather the capital of individuals or entities that may not have the financial muscle to unilaterally plunge into the capital markets. It is also crafted to meet the needs of individuals or organisations who are interested in financial investments but lack the technical knowledge required to navigate the intricacies of the market. With mutual funds, these individuals can gather their money...

Read More

Why the youths need more of financial literacy

Financial literacy refers to the set of skills, knowledge and capabilities that allows an individual to make informed and effective decisions with their financial resources. Throughout our lives, we have to go through the cycle of earning, saving, spending, borrowing and investing money. However, many lack the knowledge and strategy to maximize their financial decisions. Given the knowledge gap and lackadaisical attitude that exists towards money...

Read More

Before you start forex trading, read this

Forex trading simply refers to making money from the fluctuations in the value of different currencies. For instance, it may take 1.812 euro to buy 1 US dollar today but may take 1.869 euro to buy 1US dollar tomorrow. In the short term, forex trading can be very speculative. It can bring fortune within a short period of time, but it can equally render you broke and depressed.  After a long journey in the world of forex trading, I came up with...

Read More

Welcome! Its Simply Finance

We're here basically to galvanize the consciousness of young minds towards achieving financial literacy. This project is equally geared towards raising enlightened young Nigerians who are interested in getting sound knowledge of the financial markets in a clear, concise, simple and well analyzed format. We're here to familiarize the Nigerian youth with a wide range of financial products both within and outside Nigeria and to take them by the hands and show them how to practically explore the financial world. Investing in financial products can...

Read More