Read this, digest and use well.

Read this, digest and use well.

As a low or medium income earner, you shouldn't compare with someone with a high income, and so you should not spend like them.
In a market as complex, extreme and ambiguous as ours, its important to know how to spend and have a good saving habit.

We have put together 5-6 ways to cut your expenses according to your earnings.

1. Reduce your housing Expenses: A shelter is a basic need. However, if the better part of your earnings is spent on a luxurious apartment, you should consider moving out to a less expensive home.

2. Don't buy to keep up: Do not make financial choices you might regret, when you start spending on items just because you want to feel like others, your earnings won't last.

3. Reduce your food expenses: Yes, food is essential for living, but its possible to overspend on food. Remembrance you don't earn much and this should reflect on your food expenses.

4. Learn to be content: The only way you won't be pressured into buying what you don't need is if you are contented with what you have already.

5. Identify Your needs and wants: As a low or medium income earner its important to separate your needs from your wants.

6. Create a Good and strict savings account: Its important to save strictly, no matter how much you earn. At the end of the day, you can turn your savings to investment and then increase your streams of income.

At F&K savings we are determined to help our customers build a consistent and diligent habit of savings and investment overtime.
And we help you to secure your financial future.

Check here: Fandksavings.com.ng

Or call us: 08180997078 08092816959.

The 80/20 rule: Apply it to your finances and change your life, by Olamide Oseni.

A couple of hundred years back, an Italian economist by the name of Vilfredo Pareto discovered something really really interesting that was going to change how we understand the world. He discovered that he could measure the relationship between cause and effect precisely in mathematical terms (80/20). I know that probably sounds a bit mystifying and confusing, it was for me too, so to break it down further what he discovered was that 80% of results come from 20% of efforts. You are probably as shocked about this and if you are honest a bit doubting too. What this means for you is that: - 80% of the money you make comes from 20% of the time and effort you put in. - 80% of your products are the ones bringing in 20% of the money you make. - 80% of your customers bring in 20% of your income. And it also applies to everyday life too: - 80% of the world's wealth is in the hands of around 20% of the world's population. You probably wear 20% of your clothes 80% of the ...

WAVE POVERTY TO EXTINCTION (By Oyedamola Taiwo) For F&K Savings.

WAVE POVERTY TO EXTINCTION Sit, let's have a round table discussion. There are billions of people in the world; each have one thing in common, the desire to live a better life. The desire, however, is not strong enough to shield over 700 million people from poverty. Desire is cheap as much as talk is cheap. A desire not sponsored by action is as good as no desire at all. Wealth making is closely attached to value exchange. A value exchange requires communication. The quality of the process of communicating value determines the extent of wealth you get in exchange for your value. Have you sat to ponder on the reason for the difference in the amount paid for the exact same service rendered in two different places? Well, I have, the fashion designer you crave for and the one down your street offer the same service but communicate it differently. You see a well packaged,photographed product on the social media and love it, let the same product be sold by a guy down the street i...

How to detect ponzi schemes, a piece by Olamide Oseni

Borrowing from Peter to pay Paul is literally one of the oldest fraud tricks in the book, and it’s alarming that people still fall prey to schemes such as this especially in the wake of one such dubious schemes that has invested participants looming on the precipice of disaster. These schemes are no new trend in the Nigerian environment but it’s still alarming how people fall for them, it would have been funny if it wasn’t a matter of such serious concern, space a couple of years between these things and the story remains the same, people rush, invest their money and inevitably a sizeable number of them got swindled. The term ‘ponzi’ can be traced back to US Italian immigrant, Carlo Charles Ponzi who pulled off one of the biggest investment scams in history that had people losing as much as millions of dollars, and this was as far back as the 1920’s. Following the pattern laid back by the progenitor of such scams, Ponzi/pyramid schemes promise an unusually high returns...

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