WELCOME TO MY HEAD!

October 03, 2019

I know so many of us don’t really get the whole concept of investments, and that has been the driving force to this post. And I hope at the end of the post, a better understanding to the concept of investment would have been gotten.

So last year (2018) I decided to put the little money I had to ‘work’. I’d saved up a little amount of money from NYSC (2017) and I had a tidy sum saved up.

My first intention was to buy a piece of land in kaduna which I had hoped to cost between 300,000-500,000, but before that I decided to meet somebody who was in the finance industry. After meeting him I decided to go with the option of treasury bills. I understood how it worked to an extent and I was told that I could get between 10-14% returns for a year. Truthfully it looks small but as the saying goes “little drops makes a mighty ocean”.

I proceeded to a bank to fill the forms and get started with it but I think due to miscommunication, the person I met in the bank told me that I didn’t have enough money. By the way I wanted to start with N300,000. I left the bank feeling sad and confused, but about a week later, I stumbled on a page on instagram which was promoting an app (name withheld) that could be used to invest in treasury bills without even going to the bank. I decided to check it out and it looked quite okay only that i didn’t get testimonials.

I decided to message a finance advisor I had been following previously to ask if she knew about the app. She answered that it was legit. After this, I was a bit convinced and decided to go for it only that rather than put the entire N300,000, I decided to put half of the money and leave the remaining half, safe to say I was not 100% certain and I didn’t want to lose out completely.

Now here is the interesting part. It’s been a year since I invested the money and my investment has matured and I am withdrawing my investment today. I was able to get 18,000 plus returns on my 150,000 but the most beautiful part of this was that in the course of the 1 year, I was able to watch my money grow, each day I went on the app, my money had increased.

I’m sure someone is wondering what happened to the other 150,000 I left in the bank, well for the longest time, the money was untouched and it yielded like N2,000 but sometimes last month (September), I had to withdraw the money to assist my parents with some expenses, so I can say it served a good purpose (the money was returned tho).

So in summary I would simply say that if you have any ‘idle’ money, rather than leaving it in your bank and allow it to suffer from different bank charge deductions, invest it in something, at least you’ll be guaranteed a better return.