When some people hear about investment and savings, the first thing that comes to mind is that their money will be lost or that they might be scammed. I will try my possible best to state ways by which one can save money and different ways of investing.
I always advise my friends and people around me to take investment and savings very seriously if they want to grow financially. Holding back the money you earn won't help your financial situation. Any money you are not planning to use to buy something at that point in time should either be invested or put in your bank savings, so that at least you will be getting interest from the savings.
I told a friend of mine who approached me for financial advice so long ago that it's more preferable to save in order to invest than to invest to save. The two are quite different in some aspects. That was the time he wanted to get a loan in order to buy a laptop, but I kicked against such an idea. I told him that since he's earning more than 3000 naira daily as a barber, he should buy a savings box and bring it to me. He did as I instructed him, and I told him to start saving 500 naira every day by putting the money inside the piggy bank box. He was able to save 15,000 Naira in a month and 180,000 Naira in a year. He later used the money to buy himself a HP laptop worth 150,000 Naira.
I told him that if he had gone and gotten a loan from a bank or loan site, by the end of the year, the loan interest would have reached up to 20,000 Naira.
Let's look into ways in which one can invest his money in order to make a profit in return.
1. Invest in crypto currencies and Forex exchanges:
It won't be an easy one because crypto and Forex trading require tutoring and mentorship. if you want to make something reasonable out of it. Many have invested in crypto currency or Forex trading, and today they are living well because their investments really paid off.
Investing in crypto currency is a game of risk, and those who are willing to take the risk will reap something good in the end. You will lose sometimes and sometimes you will gain; that's an investment for you. I always advise my friends to invest the maximum amount of money that they can endure if things go wrong or if they lose in the end.
For instance, there's a new coin that was released sometime ago by the name of World Coin (WLD). Imagine buying World Coins now at a rate of $2.28 and leaving it for a year or two, and the price later increases to $5 or more than that. Have you seen that you have made a huge profit? Also bear in mind that the price may reduce, and that's one thing certain about Crypto currency
this picture is my own
2. Invest in human lives
Another sure way to invest is in human beings. One way you can invest in a human being is by starting a business for the person or by training the person in school. It may sound strange because sometimes the people you helped might not appreciate your effort or the role you played in their lives, but still, Human investment is one of the best and most sure investments.
I have seen people who helped lift others get bankrupt or become financially handicapped in the future. In this situation, there's no way the person will be left to suffer or pass through the financial hardship without getting assistance from those he or she helped lift up.
Sometimes, investing in human beings can be scary, but note that investing is a game of risk. Either you gain or you lose, but whichever way you plan to invest, check the loss rate and be very calculative of your investment. Don't invest blindly!
