Let's do our finances differently in 2023. Financial independence is within your means. A little change of attitude towards money - an abundance mindset - even on moderate income should help you develop a healthy savings & investments habit. >>
If you can spare Sh 20K p.m, allocate Sh 5K to your SACCO long term deposits, Sh 5K to a money market fund, Sh 10K to a bank account (to save up to Sh 50K for investment in GoK treasury bond).
From side hustles, spare Sh 4000 monthly to buy 100 shares of either KCB or NCBA. >>
From side hustles, spare Sh 4000 monthly to buy 100 shares of either KCB or NCBA. >>
Doing this consistently will help you grow a diversified portfolio of cash, bonds and stocks. Buying bonds every 5 months will earn you interests every 6 months, resulting in 3 payments in a year.
Open your CDS account with @AIB_AXYSAfrica DigiTrader app for stocks. >>
Open your CDS account with @AIB_AXYSAfrica DigiTrader app for stocks. >>
A stock portfolio comprising Absa, Co-op, KCB, NCBA & Safaricom will guarantee you phase-out dividends with yields as high as 12% 💰
Investing in stocks is not a short term activity. Planned purchases month on month ensures you benefit from "shilling cost averaging" >>
Investing in stocks is not a short term activity. Planned purchases month on month ensures you benefit from "shilling cost averaging" >>
A SACCO BOSA account is your primary vehicle for practical compounding interest. Fixed investments of Sh 5000 will amount to Sh 60,000 at year end. This will earn about Sh 5000 interest. Reinvest that interest in the same scheme or use it to purchase the SACCO's share capital. >>
With growing deposits and share capital in your SACCO, there's no reason why you shouldn't walk taller around March when they declare interests on deposits as high as 15% or dividends on share capital as high as 25%
Walk into any CBK branch & open a CBK CDS account for bonds. >>
Walk into any CBK branch & open a CBK CDS account for bonds. >>
There's something for everyone. For those who may not spare Sh 20K, if you can do Sh 8000, allocate Sh 4000 to your SACCO and Sh 4000 to your money market fund. Use your skills to initiate a second income stream. Offer a service or sell some merchandise. >>
Use the proceeds to save up towards a target investment, say Sh 4500 for 100 shares of Equity, regularly. See, this bank's share price will hit Sh 80 or 100 in 5 or 6 years' time. With growing subsidiaries and fledgling insurance & medical arms, you will be "in the money" 💵 >>
Savings and investments are personal. While there's no one-size-fit-all formula, certain skill-sets and tool-sets are paramount for timely achievement of set goal.
Care to join a community of investments-focused individuals? #1MilliChallenge is an @TheAbojani money-game. >>
Care to join a community of investments-focused individuals? #1MilliChallenge is an @TheAbojani money-game. >>
To participate in the #1MilliChallenge, learn the ultimate investor mindset and get guidance on opening investment accounts & acquire basic stock picking tips, sign up for the beginner @TheAbojani Personal Finance & Investments Masterclass that kicks off from 9th January 👇
Loading suggestions...