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</div><figcaption class="wp-element-caption">Celebrating 4 Years of Rise</figcaption></figure>



Transcript



 Tony: The first office that I remember was actually in V.I or Lekki then we now moved to Surulere, stayed there for a bit longer. It was the trenches, but it was fun, you know, grinding every day, just waking up, walking out of your room because it was like a live-in office, right? And in the parlor that we had converted to, like a workspace and just, you know, trying to get as much work done as possible.



 Eke: First investor was a friend, Iyinoluwa Gboyeji. So when I had started co-founded a previous company, Buycoins, and when I was thinking about what else to do next, I explained to him the vision behind what is now Rise. And he was like, I see what you&#8217;re trying to do. I think it&#8217;s absolutely critical and needed. And so he said, Whenever you&#8217;re ready, I&#8217;ll write you a check, you know, to get started. After he came in, it was pretty easy for us to go get an MVP and then raise the remaining round follow pre-seed.



Tony: It was some sort of validation. You are pitching to different people, trying to raise money to build this grand vision that you have. And then people are actually committing their resources towards backing this mission. So I think the right word would be there was some level of validation in that. 



Otas: People believe in this and so it&#8217;s both encouraging and just super exciting to hear someone say, I believe in your idea enough and I want to give you this amount of money to pursue it. But it&#8217;s also really like, okay, game on. 



Awa: I think the sign ups were like manual, there was a whole lot of engineering back and forth going on at a time when the product was still in beta and then, you know, just started growing. That people were appreciating what we were doing and signing up. And when we got to the first 1000, it just told us that, okay, maybe we were on to something here.



Eke: I remember then Otas used to help me manage the spreadsheets to track, you know, all the different people that were managing money for. We got to the first hundred. Eventually it started growing and a lot of people were coming in saying, Hey, we need something like this. There was so much demand that eventually we said, let&#8217;s try to structure this.



 By the time we realized that this is going to be bigger than what we&#8217;re thinking and we need to rebuild and rebrand the company as, Rise, we had already crossed like a thousand subscribers.



Tony: So you have to understand that product was in beta for a bit. You know, when it was finally launched, it was fun. You know, having people use it to better their lives was kind of interesting.



Awa: Signing Teni as our first ambassador, that was amazing. I think that happened when we were like two years in. So it did give us a lot of credibility. I remember we had this event at the Civic Center, our Moneyrise Conference, she came in and, you know, did a performance and it was super amazing. The number of people that actually started identifying with the brand because she was affiliated with us.



Tony: Her work ethic, She was very open to understanding what we&#8217;re actually trying to build, understanding her story, you know, her songs, everyone can be a winner actually really resonated with the brand. 



Eke: She was a delight to work with. She understands the vision. She really gets it. 



Otas: One of the big things that I think Eke and the team has been really, really good about emphasizing is over communicating and just being as transparent as possible because it&#8217;s always better to avoid issues than to start trying to resolve issues afterwards. And so I think that has been the biggest part of building trust with both the customers and the investors. 



Awa: We&#8217;re very granular. We tell our users, we used to have these office space events where people could actually walk in and sit down with us, ask questions, and we answered the questions, you know, had fun, refreshment. And so that&#8217;s helped us to build trust, allowing our users see us up close and personal and then getting all our regulatory issues, you know, on point. 



Tony : Coming into the market we realize that, yeah, Nigeria is a low trust society, not blaming anyone. Well, it&#8217;s just what it is. So we had to make sure that we were accessible.



 Eke: Our first thing is just do the work well, try and make sure that everyone understands the value you&#8217;re driving, you know, whatever you receive in terms of fees or whatever. But don&#8217;t make it the primary mission. 



Make it the primary goal to give your customer the best value you can, act in their best interest, and the trust will naturally come in. I think that&#8217;s that&#8217;s the one thing I can say we&#8217;ve done, and that&#8217;s something we will continue to do. 



Tony: Imagine a story that had just like a flat, you know, no high points, no low points. It wouldn&#8217;t be an interesting one. The first one was when we received the unexpected shocker from our able regulators, that was a fun one to navigate



 On one end you have to deal with user trust and overcommunicate on another end we had to meaningful engage with the regulators and help them see the vision of what we&#8217;re trying to build.



Eke: Eventually all of that was resolved. So we we knew that we had done our best. We had done everything according to what was right. And so we stood up for ourselves as well. And, you know, with the support of both our investors, our customers, even the regulators themselves. 



Right? Eventually we came out of that and customer trust was increased because during that whole period, our operations did not stop our investments were still moving forward. People were still able to fund, people were still able to withdraw. And, you know, we really were able to demonstrate the fact that Rise is very resilient. And at the core of what we do, we had very strong operational processes and depth to be able to operate even in a very difficult environment



 Awa: You know, some of what we are doing are things we&#8217;ve not done before. And so every day we are learning on the job, getting better at it. And so when that challenge happened, again, it&#8217;s something a lot of us at that time had not faced, but being able to overcome that showed us that no matter what happens down the line that we were up to the task.



For the next four years, one of our plans, our vision, is to dominate our space. And that means, you know, whenever you think about dollar investments, investments in general, you think Rise. 



Tony: The vision hasn&#8217;t changed. We still want to be the most impactful fintech by providing our users with the best wealth creating opportunities that available outside the shores of Nigeria and also within.



So that hasn&#8217;t changed. But the strategy around how we intend to achieve that mission might change based on various factors, but the mission remains.



 Otas: It&#8217;s a new ball game and creating trust in Uganda and in Kenya. And so it&#8217;s going to be I think the next four years is really just going to be us fortifying our mission. Making sure that, you know, the trust that we have built into our clientele is able to scale up into these other countries as we grow.



 Awa: Some of it is basically just doing the basic things, right? Users still need communication. So we&#8217;ll double down on that. Constantly tell them this is what&#8217;s going on, this is how we are managing your investments and this how you are earning returns. 



Tony: There&#8217;s also new and interesting plans that we&#8217;re trying to introduce on the product. And yeah, a lot of interesting things. You just have to keep checking your app. 



Eke: Some of the things that we&#8217;re building into the product that we&#8217;re going to especially the next year, is increase the level of direct insights that customers have into the day to day of what their investments are doing, deeper insights into the product, deeper insights into the portfolio, deeper insights into our selection process.



 Otas: One of the things we&#8217;ve really focused on is our data security and making sure that information customers, clients, even employees share with us is safe even in our own hands. Because it&#8217;s one thing for your app to be breached on your end and it&#8217;s another thing for it to be breached on our end 



Tony: There&#8217;s something very interesting that we do, which is a lot of user education. I believe that education is helpful and a lot of our users are starting tto see the benefits of, you know just staying invested, compounding your money and making it work for you. 



Otas: I do think that patience goes a long way because it puts less stress on the team while we try to resolve the issues. Also, it gives us a space to sort of resolve it faster if we&#8217;re not worried about how they will react in a few minutes without an answer. So patience will be a great, think that is a great way to summarize that.



Eke: We as a company, no matter how passionate we got about a vision, there is zero chance that we will be here if customers don&#8217;t agree or align with that vision and trust us to do the job for them. There&#8217;s more than 600,000 people now under the Rise umbrella collectively, and we&#8217;re grateful for every single one of you, and we look forward to continue to do this work for you over the years.



 Tell us what you need us to build for you. And as much as possible, just understand that there will be no Rise if you didn&#8217;t support us and we are always grateful for that.

Celebrating 4 Years of Rise

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Transcript



 Hi. My name is Affi. I am an entrepreneur, I&#8217;m a mom. I&#8217;m a wife. I am an athlete. 



Um, I run a company called ReelFruit, which is a dried fruit company, and I&#8217;ve been running that for ten years or eleven now in Nigeria.



So I… Somebody described it as I have the most textbook kind of business entrepreneurship journey I actually did not ever think I was going to be an entrepreneur.



 But after working for an organization that supported entrepreneurs, I feel like that&#8217;s where I caught the bug I started wondering, I wondered, I really like entrepreneurs I love what they do.



 I love that they create jobs. Let me find a way, you know, to do the same. And that&#8217;s kind of how I got into my business. I thought which sector in Nigeria would create the most jobs?



 I was googling and at the time, you know, it was all about &#8220;Agric is sexy&#8221; &#8220;Make agric attractive to the youth&#8221; and that&#8217;s pretty much how I picked agribusiness



And I was like, okay, google again, which agribusiness kind of creates the most jobs and it was like fruit or processing food.



And I picked that and I kind of started like devolving into an idea from there.



 So it wasn&#8217;t It wasn&#8217;t something I longed to do. It just kind of, I kind of was like lending my way to it. And obviously something I guess I was… I was made to do it in the end.



So I came up with it, like I said, by literally textbook internet research.



No idea will work in Nigeria and I moved back and I just brought my products and started like sharing it with people saying,



Do you like it? Do you think it would sell? And I got, you know, pretty positive feedback. Like enough feedback to let me know that that I could start.



But it definitely was a long journey. Definitely took a lot of time to introduce a new product into the market.



I would say it wasn&#8217;t till our like sixth year in business. I thought, okay, there are enough people consuming this business, this product for us to have a market.



Till then, it was very touch and go. Sometimes, you know, you think you&#8217;re doing good, then a store will tell you people don&#8217;t like it anymore.



And you know, it was just a very difficult time launching something new, something people hadn&#8217;t known before. That was really, really tough.



And, of course, you know, fundraising, getting funding to keep going. You know, keeping people motivated. Keeping people excited It was… It&#8217;s been a long journey, but also very, very I would say, interesting. Very exciting.



I definitely I&#8217;m somebody who likes to do difficult things. So I know how to stick with things. I have that perseverance.



I have that like ability to just suck it up and do it. So I think that&#8217;s what&#8217;s kept me going.



But it&#8217;s been great overall with its hard times and its good times.



Yeah. Most challenging, I would definitely say fundraising. That&#8217;s been, that was very tough.



That took a long time. In fact, for me to raise funding, it took nine years after I started my business but five years working with with my investors.



I was like involved with them, keeping them up on my progress.



So it took me five years from even identifying my investor to raising money, and that was long because a lot of plans you have, you kind of need money to execute.



And when you don&#8217;t, you have to go back and sort of figure out how to keep going without, you know, the money you need.



So that was pretty tough. I mean, there have been so many great moments, but I think the best ones are probably when we were able to like, you know, self challenge. Like, when we didn&#8217;t let Nigeria happen to us. 



Like when Nigeria was coming after us with either, you know, currency devaluation or, you know, some issue, no light, and we&#8217;d figure out a way to like beat, you know. Just that resourcefulness that allows us to keep going.



And I think that&#8217;s not just me. That&#8217;s something my team kind of imbibed. So those moments, I would say are the best when like my team would go and figure out something and it would be like the solution that works.



Or we would like take a daring step, adding a new product and is something the market would accept.



So things like that really, you know, scattered along the way, give you the momentum and the excitement to keep going.



Yeah. That&#8217;s interesting. Yeah. Raising money was also great.



When we finally raised money, I was pretty happy about that. And when I finally bought my factory, because that was a dream



I had since the day I came back. I was like, I&#8217;m going to own a big factory and we&#8217;re going to do all this processing and that only happened in year ten.



So that was the moment I was like, &#8220;Yes, I think we&#8217;re here to stay&#8221;



Yeah. Well, that&#8217;s a long journey. 10 years. Can you talk to us about year 10 because last year was your 10th anniversary? Yes.



Tell us about that feeling. Like, you bought a factory, everything. I mean, it was, it&#8217;s a great. It&#8217;s great to have, you know, been around for ten years and somehow it feels like we&#8217;re just starting in some senses.



But, you know, we&#8217;ve definitely built a solid foundation and that was what the first ten years was about. And people don&#8217;t like to hear it, but it takes long to build a great business.



And so I look at it as like I gave my best ten years, the best ten years of my life to my business, but really to see us, to see the strides that we&#8217;ve made, to see the success.



I mean, I don&#8217;t want to brag, but we are in a lot of stores around Nigeria, we sell our products outside of the country.



We have you know, we have really pushed the barriers of where we can go and to just take a step back in ten years, reflect on what we&#8217;ve done, it&#8217;s been, we&#8217;ve done a lot and with a little actually.



 And so it felt great to actually reach that milestone and actually see that there was so much more we can do.



So I don&#8217;t feel like I&#8217;m at the end or I&#8217;m tired or oh, ten years is a long time.



It is a long time.



But I feel like based on what we&#8217;ve built, there&#8217;s a lot there&#8217;s a lot more in store for us and I&#8217;m excited about that.



Now, I feel like I have more license to dream because we&#8217;ve actually achieved a lot in the ten years.



But we want our factory to really be one of a kind producing products that we&#8217;re not only going to just sell for Nigeria, but for the world.



We have a lot more new products that don&#8217;t exist yet that we want to bring to market.



We also want to have a lot of social impact so from, in our value chain, really uplifting the farmers that farm food, really helping them earn more money, improve their livelihoods. 



That&#8217;s something we believe our business can do. And I&#8217;m actually looking for us having that kind of meaningful impact in the next ten years across everybody we work with from our customers, employees, value chain and just really being a really big business.



I want people to think of us and think, Wow, this is like the new, you know, the new age Nigerian FMCG, kind of the new Nestlé, the new, the Nigerian made in Nigeria version of a really big business that started at home and kind of as is global.



And that would be that would be really cool to achieve.



I&#8217;m a runner. I run marathons.



 I&#8217;m passionate about running primarily because it&#8217;s another difficult thing that I like to do, but it really keeps me sane in Nigeria.



I enjoy challenging myself physically. I enjoy, you know, also being able to escape a little bit, all the stress of being in business.



So running is great. I play recreational football and like I mentioned, Rise is a sponsor of my football team and we made it to the finals last season.



We didn&#8217;t win, but we&#8217;re going again We&#8217;re going again this season to win! And that again is another great sport, brings a great community together of people.



So I&#8217;m passionate about that and, you know, just increasingly passionate about seeing how I can help others, especially entrepreneurs in my value chain, in my business, to sort of not, you know, sort of like help them be more successful and, you know, share my lessons that won&#8217;t make, that will make it so that it won&#8217;t take them as long to achieve what they need to achieve in their business.



So I think mentoring and supporting others is now growing. I feel like I now have the bandwidth, a little bit more time and experience to help others.



And that brings me a lot of joy.



You&#8217;d be surprised. I&#8217;m actually not that great with money. Not… So as an entrepreneur, I, you know, if you&#8217;re building your business, you put everything you have into the business at some point.



And of course, there was a time I wasn&#8217;t earning a salary.



Then there was a time I was earning very little money and it was all, okay.



You know, it was fine because I&#8217;m putting it towards my business.



I&#8217;m growing my business.



So I wasn&#8217;t really good about diversifying my, you know, my savings, my income. I was putting all of it into the business. And then when I had children and I&#8217;m like, okay, you know, like I kind of need to have a little bit more money, you know, to be able to do things. It started dawning on me that, you know, I had to also be short term because obviously my return in a business is very long term.



And I had no other sort of ways of saving outside of my business, pretty putting money in my business. So it started becoming something I learned very late, I would say.



I think, you know, when you&#8217;re young, you think there&#8217;s a lot of time and you can take risky bets. And then when you get older, you&#8217;re like, okay, maybe I need to start packing money in different places just to diversify my risk.



And, and that&#8217;s something I started doing. I want to say probably 2019. So I&#8217;m actually. I mean, I&#8217;m not a I don&#8217;t spend badly, but I don&#8217;t save that well. Like I don&#8217;t I don&#8217;t do that long term game pretty well except for my business.



And so yeah, it was a lesson I learned later.



So yeah, money is very important obviously, but I think being, being smarter measured about it, like having some safe investments, etc. is definitely key.



So for me, investment was, is pretty. Of course, it&#8217;s, I think it&#8217;s absolutely necessary and something people need to like imbibe a lot.



You know, I think one of the, one of the misconceptions or assumptions we have is that you need a lot of money to invest.



And that was also something I thought about. When I make my bulk like, you know, X amount, I&#8217;ll now put it to save versus just saving more methodically small amounts monthly.



So that was the first kind of thing I learned about investing. The second thing is that I don&#8217;t have the time to actually learn about other like ways of investing which companies are worth it?



Which stocks are worth it? So that was where Rise really came in for me. I was like, I know nothing about investment, to be honest.



I don&#8217;t have the interest, I don&#8217;t have the time to get really good at it.



So, you know, using a platform that allowed, that took that stress away from me and sort of just I felt comfortable that someone better was making a decision about investing than me.



Kind of is where… Then I found it like just much easier, much more manageable to now not make investing this big thing where I have to like, I have to know what stock is. You know, everybody&#8217;s like, oh, this stock has crashed.



This is that, you know, that one has gone down, crypto&#8217;s crashed and all of that. I&#8217;m like, you know, I don&#8217;t know anything. I don&#8217;t want to know too much about it.



So, of course, you know, finding ways to make it easier and simpler. Finding ways to make it not as, you know, daunting is kind of, I think, the way to go.



So I guess that&#8217;s probably why you&#8217;re using Rise?



Yeah.



Yeah, that&#8217;s why I use Rise and that&#8217;s what Rise did for me.



I think Rise made investing simple, and it made it so that I could just, like, put money away and, you know, know that it was 1) being diversified properly, but 2) also that I didn&#8217;t have to think about where to put it.



Like I don&#8217;t, you know, I don&#8217;t have that skill set.



Yeah. I want to say since 20, I want to say 2019, 2020. I think I did like a three, three, three different plans. I did, then saved a lot of money, then took some out and now back in. So yeah I&#8217;m I&#8217;m, I&#8217;ve been I&#8217;ve been a… I would say I&#8217;ve seen the value for a couple of years.



I must say this is very vain but the UX is pretty, pretty cool.



Um, the yeah. The ease of use is extremely cool.



I think the ability to save on the different asset classes is also very, very cool.



Like I said, for someone like me, it makes it very easy.



So I would say ease and convenience. Those are probably my top two things.



You know, I&#8217;m one of these people who will try to balance like the real story with the hopeful story, but it&#8217;s definitely a long game.



So I think people have to be prepared to play the long game, especially doing business in Nigeria.



But more practical tips, I would say are, you know, learn as much as you can within your network.



I encourage people to actually go and if you can&#8217;t even work for somebody, just go start learning about what people who have gone ahead of you are done. I think one of the most underrated things in entrepreneurship is avoiding mistakes other people have made.



I feel that people, you know, if you if you put a little bit more effort into learning from others, you save yourself so much time and loss money.



And I think that&#8217;s a winning strategy, especially in this country where there&#8217;s not a lot of you know, there&#8217;s not a lot of chances to mess up and come back on your feet.



You know, you can&#8217;t make too many big mistakes. So learning from others is key and networking.



I can&#8217;t emphasize that enough. Like, most of the things I&#8217;ve gotten to build my business have come from networks that I&#8217;ve had to grow.



I came back to Nigeria. I didn&#8217;t. I never grew up in Lagos, really. I didn&#8217;t know people, so I had to build a network and today that network is probably the biggest asset I have running this business.



So I would say networking, learning from others and, you know, being prepared, prepared to give it time.



I was, I was. It took me a year. Firstly, I didn&#8217;t just quit and leave. It took me a year to kind of like do research.



 Then I was just like, okay, at some point I need to come back, and I was telling my mom like, Mummy, I&#8217;m moving, I&#8217;m moving.



She&#8217;s like, okay, then one day, I bought a one way ticket and she&#8217;s like, Oh, you&#8217;re really leaving?



And so that was, that was one of the things that moved me to come.



But also youth and naivete.



You know, I was 26 when I came back and I just. I was just like, I&#8217;m gonna go for it. And I thought, what&#8217;s my worst case scenerio? Did I even have a plan B?



I don&#8217;t even think I had a plan B at the time, but basically just feeling like I had done enough as I could do and I needed to just throw my hat in the ring.



I needed to jump into the, into the ocean, as it were. And I just took that step. And, you know, and came back and didn&#8217;t look back.



But yeah, it was when I think about it now, it was pretty silly, but also it&#8217;s kind of working out so good.



Yeah, that&#8217;s a very, very good question. I think love is a great investment. I mean, if you think about it in the sense of like people, of course, you know, if you invest in people showing love and all of that, you get so much in return.



And of course, it requires some effort and it requires some compromise.



But I think in the long term, you know, what you get from having good people around you who love you and you love, I don&#8217;t think you can put a price on that.



And if you think of love as in, you know, loving the work you do, your trade, your passions, whatever, like whatever you put energy into and you give commitment to, I think the payoff is often very, very high.



So I say it&#8217;s a great investment, obviously, with with obviously some some caveat that you don&#8217;t just go around giving your love to everybody, but for the things you choose to love.



I think putting your all in it gives you a very, very good payback.



So that&#8217;s it. 



What are your thoughts as regards investing as a couple? Me and my husband? That&#8217;s a very good question.



 My um. So I would call my husband the investor. Like for, for a long time, he&#8217;s very. He is an entrepreneur in tech.



So he&#8217;s also he also got into tech investing and he dragged me in as well a little bit down the line.



But I would say the difference was he was a lot more bullish than I was. Like ready to take risks.



I was more like safe. So I would rather not invest and invest. And overtime, I started learning to take a little bit more risk.



So I would not I would not participate in some of the investment he did because I was like, no, count me out, that&#8217;s too much for me.



So he just kind of went along and he&#8217;ll be like, Affi, do you want to come in this? Do you want to come in?



I&#8217;m like, no, no, no. And then later I started doing it.



So I&#8217;d definitely say, he definitely. And he liked investing in, you know, in entrepreneurs.



So that&#8217;s another thing like that specifically.



Whereas I would be like, okay, can I do maybe property? Or can I do like something a little bit, you know, a product I could see and all of that stuff.



So I would say that he&#8217;s definitely more the cowboy.



Cowboy investor. I&#8217;m now becoming that. But yeah, I would not do half of the stuff he has done.

Affi SuperStar Talks about Reelfruits and Investing

Dwin The Stoic Talks About His Music with Rise

Teni, Sugar Mummy of Risevest.

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Transcript



 My name is Temi Osoba and I&#8217;m 22 and I work in a Maritime Agency in Lagos here not permanently, I just finished NYSC.



So yeah.



Okay so, um, my friend tweeted something about it, so I think like she just signed up and I just saw like a random tweet on the TL about it, and I just decided to just download the app and then it just seemed pretty to me, like the app just literally seem pretty to me.



 Then I read on your website and stuff, I read about it and then I just wanted to try basically.



Yeah you know like



There&#8217;ve been like a lot of Ponzi schemes and all of that like in the past like 2020, like a lot of us now are aware of it and all of that.



So that kind of like restricted me a bit.



But again, like I said like the app was pretty, and naira keeps falling against the dollar.



So like the devaluation kind of made me just want to explore it.



Yeah.



I think it’s amazing cause the moment I got in, I like put my roommate on.



Okay first off, I’m a very likeable person, So yeah and I have a lot of friends.



So like just telling them that, I think they&#8217;ll just believe anything I like put them on to do you get.



So yeah, I will just tell them that, “you know, the naira keeps falling, so I think you should do this.” Yeah.



So I don&#8217;t think there&#8217;s anyone that won&#8217;t reason with me with the present reality.



 Most of the people that, most of my referrals are from work, to be honest, because there’re a lot of people- there are nine floors in my building



So there’re a lot of people that work there. So, and like I said, I&#8217;m very likable and sociable.



All I have to do is just walk to them, walk up to them rather and talk to them. and say “oh I want to tell you about this app,



Then I want you to join because this is the present reality of the economy” and all of that.



Basically, and I will tell them that you just have to start with $10, which sounds reasonable because I&#8217;m not telling you to bring something that&#8217;s extraordinary.



I&#8217;m not saying bring a $1,000. So like if you can see what you can get in three months with $10, then you can be convinced to put in $1000.



Yeah.



I think it&#8217;s the fact that I always say that the naira is falling, devaluation basically.



 Yeah.



 You know like firstly



I don&#8217;t try to force it on you.



I try to make you see how like what you can gain from using the app rather than speaking on the leaderboard competition first.



I&#8217;ll say, “oh, this is what you stand to gain from the app.



These are the asset classes, this is what you can do with it.”



I don&#8217;t say “oh you are coming to do this for me, it’s for you first then me” do you get?



Yeah.



Already like the Ponzi scheme thing that has been happening in the past, some people already knowing about that, they’ll say “oh I hope that you’re not about to take my money again



or I already know about these things they’ll crash later.” And all of that.



But like, I don&#8217;t try to force it on you so already I feel like that&#8217;s already going to convince them that it&#8217;s not something



that&#8217;s fake or that&#8217;s going to crash in a bit.



I wasn&#8217;t really referring people a lot.



I think my roommates, is like the only person I put on,



and maybe like a couple of other friends, but like I wasn&#8217;t doing actively, but like money is a good motivating factor.



So yeah, I would say that. And I&#8217;m very competitive, so I like healthy competition.



I’ll just say like talk to more people.



Like don&#8217;t be scared to walk up to people, talk to them about it because like some of the people that I didn&#8217;t think that would even accept to you know sign up, they did and they put good money there.



Yeah, basically.



So if I wanted to ask you, what should I tell them?



Like, what would you tell me?



Just tell them like what they stand to gain from the app, like the experience, your own experience on the app.



Like you obviously had like a seamless experience from.



That&#8217;s the only reason why you’ll be able to refer people.



Yeah, basically.

Rise Leaderboard Winner

Taxation is a fundamental aspect of modern economies, providing the revenue necessary for governments to fund public services and infrastructure. However, the obligation to pay taxes often leads individuals and businesses to seek ways to minimise their tax liabilities. This has given rise to two key practices: tax avoidance and tax evasion. While both aim to reduce the amount of tax paid, they are fundamentally different in nature and legality. This article explores the definitions, differences, and consequences of tax avoidance and tax evasion, shedding light on why understanding these distinctions is crucial for both taxpayers and policymakers.



<h2 class="wp-block-heading" id="h-definition-of-tax-avoidance-and-tax-evasion">Definition of Tax Avoidance and Tax Evasion</h2>



Tax Avoidance is the legal practice of exploiting loopholes and provisions within the tax code to minimise tax liability. Taxpayers use strategies and structures that comply with the law to reduce their taxable income or gain favourable tax treatments. Common methods include claiming allowable deductions, investing in tax-advantaged accounts, and structuring transactions to take advantage of lower tax rates. Although tax avoidance is legal, it often sparks ethical debates about the fairness and intent behind such practices.



Tax Evasion, on the other hand, is the illegal practice of deliberately misrepresenting or concealing information to reduce tax liability. This includes underreporting income, inflating deductions or expenses, hiding money in offshore accounts, and not filing tax returns. Tax evasion is a criminal offence that undermines the tax system&#8217;s integrity, leading to severe penalties for those caught engaging in it, including fines and imprisonment.



<h2 class="wp-block-heading" id="h-difference-between-tax-evasion-and-tax-avoidance">Difference Between Tax Evasion and Tax Avoidance</h2>



The primary difference between tax avoidance and tax evasion lies in their legality and methods:



<ol>
<li>Legality:
<ul>
<li>Tax Avoidance: Tax avoidance is entirely legal. It involves using the provisions within the tax code to reduce tax liabilities. Taxpayers engaging in tax avoidance comply with the letter of the law, even if their actions might sometimes go against its spirit.</li>



<li>Tax Evasion: Tax evasion is illegal. It involves deliberate misrepresentation, concealment, or falsification of information to avoid paying taxes. Tax evasion is a fraudulent activity and constitutes a criminal offence.</li>
</ul>
</li>
</ol>



<ol start="2">
<li>Methods:
<ul>
<li>Tax Avoidance: Methods include legal tax planning, claiming legitimate deductions, utilising tax credits, and structuring transactions to minimise taxes. For example, a business might invest in renewable energy projects to claim tax credits or defer income to a later year when the tax rate might be lower.</li>



<li>Tax Evasion: Methods include falsifying income reports, inflating deductions, hiding money in secret offshore accounts, and not filing tax returns. These actions are intended to deceive tax authorities and unlawfully reduce tax liabilities.</li>
</ul>
</li>
</ol>



<ol start="3">
<li>Ethical Considerations:
<ul>
<li>Tax Avoidance: While legal, tax avoidance often raises ethical questions. Critics argue that it disproportionately benefits wealthy individuals and large corporations who can afford sophisticated tax planning services. This can lead to perceptions of inequality and unfairness in the tax system.</li>



<li>Tax Evasion: Clearly unethical, tax evasion involves deceit and dishonesty. It undermines the social contract by which citizens agree to fund public services through taxes. Tax evasion shifts the tax burden to honest taxpayers and erodes public trust in the tax system.</li>
</ul>
</li>
</ol>



<ol start="4">
<li>Consequences:
<ul>
<li>Tax Avoidance: Generally leads to tax savings and might attract scrutiny from tax authorities if perceived as overly aggressive. Sometimes, it can prompt changes in tax laws to close loopholes. However, as long as the practices remain within legal boundaries, taxpayers engaging in tax avoidance typically do not face legal penalties.</li>



<li>Tax Evasion: Carries severe legal penalties, including fines, interest on unpaid taxes, and imprisonment. Tax evaders can also face asset seizures, wage garnishments, and reputational damage. The consequences extend beyond financial losses to include social and professional repercussions.</li>
</ul>
</li>
</ol>



<h2 class="wp-block-heading" id="h-consequences-of-tax-evasion">Consequences of Tax Evasion</h2>



Tax evasion has far-reaching consequences that impact not only the individual or entity engaging in it but also the broader economy and society. Some key consequences include:



<ol>
<li>Legal Penalties:
<ul>
<li>Tax evasion is a criminal offence resulting in severe penalties, including fines, interest on unpaid taxes, and imprisonment. Tax authorities, such as the FIRS in Nigeria, aggressively pursue tax evaders and impose substantial penalties to deter others.</li>
</ul>
</li>
</ol>



<ol start="2">
<li>Financial Consequences:
<ul>
<li>The financial repercussions of tax evasion can be devastating. In addition to fines and interest on unpaid taxes, tax authorities may seize assets, garnish wages, and impose liens on properties to recover owed taxes. This can lead to significant financial hardship and loss of assets. For businesses, the financial impact can include lost revenue, increased costs due to legal fees, and potential bankruptcy.</li>
</ul>
</li>
</ol>



<ol start="3">
<li>Reputational Damage:
<ul>
<li>Being caught for tax evasion can severely damage an individual&#8217;s or a business&#8217;s reputation. This can lead to loss of business, professional opportunities, and social standing. Companies involved in tax evasion may face boycotts, loss of customers, and reduced investor confidence. The stigma associated with tax evasion can have long-lasting effects on personal and professional relationships.</li>
</ul>
</li>
</ol>



<ol start="4">
<li>Economic Impact:
<ul>
<li>Tax evasion reduces government revenue, leading to budget deficits and reduced funding for essential public services and infrastructure projects. This can negatively impact economic growth and development, as governments may need to cut spending on education, healthcare, and social welfare programs. The reduction in public <a href="https://money.rise.capital/blog/investing-during-a-tight-economic-cycle/">investment can hinder overall economic</a> stability and growth.</li>
</ul>
</li>
</ol>



<ol start="5">
<li>Increased Tax Burden on Honest Taxpayers:
<ul>
<li>When individuals or businesses evade taxes, the tax burden shifts to those who comply with tax laws. This can lead to higher taxes for honest taxpayers, creating resentment and undermining the perceived fairness of the tax system. Increased tax rates can also reduce disposable income and negatively impact consumer spending and investment.</li>
</ul>
</li>
</ol>



<ol start="6">
<li>Undermining Public Trust:
<ul>
<li>Tax evasion undermines public trust in the tax system and government institutions. When people believe that others are not paying their fair share, it can lead to decreased compliance and increased tax avoidance and evasion. This erosion of trust can have broader societal implications, including reduced civic engagement and lower levels of social cohesion.</li>
</ul>
</li>
</ol>



Ready to take control of your financial future? Download the <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Rise </a>app today and start making smarter financial decisions that prioritize your needs and support your long-term goals.



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Understanding the difference between tax avoidance and tax evasion is crucial for taxpayers, policymakers, and society at large. While tax avoidance operates within the legal framework, it often raises ethical questions about fairness and equity in the tax system. Tax evasion, however, is a criminal act that carries severe penalties and undermines the tax system&#8217;s integrity. Addressing these issues requires a balanced approach involving robust enforcement of tax laws, closing loopholes, and fostering a tax compliance and fairness culture.



By promoting awareness and understanding of these concepts, we can work towards a more equitable and efficient tax system that benefits everyone.

Differences Between Tax Avoidance and Tax Evasion

Financial management is a fundamental skill everyone needs to navigate life’s financial challenges and opportunities. Whether you&#8217;re managing daily expenses, saving for future goals, or investing in building wealth, effective financial management is crucial for achieving financial stability and security. This comprehensive guide will explore the meaning of financial management, provide practical examples, explain how it works, discuss its importance, outline the various types, and explore how Risevest can assist you with your personal financial management.



<h2 class="wp-block-heading" id="h-what-is-financial-management">What is Financial Management?</h2>



Financial management for individuals involves planning, organising, directing, and controlling personal financial activities to achieve financial goals. This includes budgeting, saving, investing, and managing debts. The primary objectives of personal financial management are to:



<ol>
<li>Ensure Financial Security: Protect against financial emergencies and uncertainties.</li>



<li>Optimise Resource Utilization: Make the most of your financial resources to achieve your goals.</li>



<li>Maximise Wealth: Increase your net worth through prudent financial decisions.</li>



<li>Achieve Financial Independence: Ensure you have sufficient resources to maintain your desired lifestyle without relying on others.</li>
</ol>



<h3 class="wp-block-heading" id="h-key-components-of-personal-financial-management-include">Key components of personal financial management include:</h3>



<ol>
<li>Financial Planning: Estimating your financial needs and setting achievable financial goals.</li>



<li>Financial Control: Monitoring your spending and ensuring that you stick to your budget.</li>



<li>Financial Decision-making: Making informed choices about saving, investing, and spending.</li>
</ol>



<h2 class="wp-block-heading" id="h-example-of-financial-management">Example of Financial Management</h2>



Consider an individual who wants to buy a house in five years. Effective financial management would involve several steps:



<ol>
<li>Budgeting: Creating a monthly budget that includes all income and expenses, allowing for savings towards the house.</li>



<li>Saving: Setting up a dedicated savings account for the house and contributing to it regularly.</li>



<li>Investing: Investing the savings in low-risk instruments to grow the fund over time.</li>



<li>Debt Management: Paying off high-interest debts to improve creditworthiness.</li>



<li>Monitoring: Regularly reviewing financial progress and adjusting the plan as needed.</li>
</ol>



<h2 class="wp-block-heading" id="h-how-does-financial-management-work">How Does Financial Management Work?</h2>



Personal financial management operates through a structured process involving several steps:



<ol>
<li>Setting Financial Goals: Establishing clear short-term and long-term financial objectives, such as saving for a down payment on a house, building an emergency fund, or planning for retirement.</li>



<li>Financial Analysis involves assessing your current financial situation by analysing income, expenses, assets, and liabilities. This helps identify areas for improvement and opportunities for growth.</li>



<li>Financial Planning: Creating a comprehensive financial plan that includes budgets, savings strategies, investment plans, and debt repayment schedules. This plan serves as a roadmap for achieving your financial goals.</li>



<li>Resource Allocation: Efficiently allocating your financial resources to various goals and needs. This involves prioritising spending, saving, and investing to maximise returns and support your objectives.</li>



<li>Financial Control: Implementing controls and monitoring mechanisms to ensure you stay on track with your financial plan. This includes tracking expenses, monitoring investment performance, and reviewing progress regularly.</li>



<li>Performance Evaluation: Regularly reviewing your financial performance against set goals and making necessary adjustments to stay on course. This involves analysing financial data, identifying deviations, and taking corrective actions.</li>
</ol>



<h2 class="wp-block-heading" id="h-importance-of-financial-management">Importance of Financial Management</h2>



Effective financial management is vital for several reasons:



<ol>
<li>Financial Security: Helps protect against financial emergencies by building an emergency fund and managing risks.</li>



<li>Goal Achievement: Enables you to set and achieve financial goals, such as buying a house, funding education, or planning retirement.</li>



<li>Wealth Building: Facilitates wealth accumulation through prudent saving and investing strategies.</li>



<li>Debt Management: This helps you manage and reduce debt, improving your financial health and credit score.</li>



<li>Peace of Mind: Provides peace of mind by ensuring you control your financial future and are prepared for unforeseen circumstances.</li>
</ol>



<h2 class="wp-block-heading" id="h-types-of-financial-management">Types of Financial Management</h2>



Personal financial management can be categorised into various types based on its functions and scope:



<ol>
<li>Cash Flow Management: This involves monitoring and managing your income and expenses to ensure sufficient cash flow to meet your needs and goals.</li>



<li>Investment Management: Focuses on managing your investment portfolio to grow wealth and achieve long-term financial goals. This includes selecting appropriate investment vehicles, diversifying assets, and managing risk.</li>



<li>Debt Management: Deals with managing and reducing debts, such as credit card debt, student loans, and mortgages. It involves creating a debt repayment plan, prioritising high-interest debts, and negotiating better terms.</li>



<li>Risk Management: Involves identifying and managing financial risks, such as loss of income, medical emergencies, and market volatility. This includes building an emergency fund, purchasing insurance, and diversifying investments.</li>



<li>Retirement Planning: Focuses on planning and saving for retirement to ensure financial security in your later years. This involves estimating retirement needs, setting up accounts, and regularly contributing to them.</li>



<li>Tax Planning: Involves managing your finances to minimise tax liabilities and maximise after-tax income. This includes understanding tax laws, taking advantage of tax deductions and credits, and timing income and expenses strategically.</li>
</ol>



<h2 class="wp-block-heading" id="h-how-risevest-can-help-with-your-personal-financial-management">How Risevest Can Help with Your Personal Financial Management</h2>



<a href="https://money.rise.capital/blog/dollar-investments-in-nigeria-why-risevest-is-the-perfect-solution/">Risevest</a> is a dollar investment platform designed to help individuals optimise their financial operations. Here’s how Risevest can assist you:



<ol>
<li>Investment Management: Provides tools and strategies to efficiently manage and grow your investments. Risevest’s platform offers access to diverse investment opportunities, allowing you to build a robust investment portfolio tailored to your risk tolerance and financial goals.</li>
</ol>



<ol start="2">
<li>Financial Planning and Analysis: Offers comprehensive financial planning and analysis tools to help you make informed decisions. With Risevest, you can create detailed financial plans, conduct financial analysis, and forecast future economic performance.</li>



<li>Budgeting and Forecasting: Risevest enables precise budgeting and forecasting to ensure that your financial goals are achievable. Its goal-based plans help you develop accurate budgets, monitor expenditures, and adjust plans as needed.</li>



<li>Financial Reporting: Risevest generates detailed financial reports to keep you informed about your financial health. Its reporting tools provide insights into your financial performance, helping you stay on track with your financial goals.</li>
</ol>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Financial management is essential for individuals, ensuring optimal resource utilisation, financial stability, wealth building, and risk management. By understanding its meaning, types, and how it works, you can implement effective financial strategies to achieve your objectives. Risevest offers a robust platform to assist with your personal financial management, providing tools for investment management, financial planning, budgeting, cash flow management, and more. Partner with Risevest to take your financial management to the next level and secure your financial future.



<h2 class="wp-block-heading" id="h-risevest-your-trusted-partner-in-personal-financial-management">Risevest: Your Trusted Partner in Personal Financial Management</h2>



Managing your finances can be complex, but you don’t have to do it alone. <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> offers comprehensive investment solutions tailored to your personal needs. Whether you’re looking to optimise your investments, plan for future goals, or ensure financial stability, Risevest has the tools and expertise to help you succeed. Visit<a href="https://www.risevest.com"> </a><a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> today to learn more and take control of your financial future.

Financial Management: Meaning, Types, and How It Works

Giving birth is one of the most significant events in a person&#8217;s life, and understanding the associated costs is crucial for prospective parents. In Nigeria, the cost of childbirth can vary widely depending on several factors, including the choice between public and private hospitals, the type of delivery, and the healthcare services required during different stages of pregnancy. In this article, we talked to three mothers on their pregnancy journeys, thus offering insights into expenses for prenatal care, delivery, and postnatal care.



<h2 class="wp-block-heading" id="h-factors-influencing-the-cost-of-childbirth">Factors Influencing the Cost of Childbirth</h2>



The cost of giving birth in Nigeria varies significantly depending on several factors, some of which have a more significant impact than others:



<ul>
<li>Choice of Hospital: Public hospitals are typically the most affordable option for childbirth in Nigeria. The government subsidises them and offers essential maternity services at lower costs than private hospitals. However, public hospitals may experience overcrowding, have limited resources, and need to provide amenities or personalised care differently from private hospitals.</li>
</ul>



<ul>
<li>Location: Urban areas in Nigeria generally have higher childbirth costs than rural areas. This is due to several factors, including the cost of living, the availability of specialised healthcare professionals, and the infrastructure of healthcare facilities. For instance, private hospitals with advanced technology and experienced specialists are more likely to be found in major cities, and their services will come at a premium.</li>
</ul>



<ul>
<li>Type of Delivery: The most significant factor influencing the cost of childbirth is the type of delivery. Vaginal delivery is a natural birthing process and is generally less expensive than a caesarean section (C-section) due to the absence of major surgery and a shorter hospital stay. C-sections involve a surgical procedure to deliver the baby, requiring specialised equipment, an operating room, and additional medical personnel. This significantly increases the overall cost.</li>
</ul>



<ul>
<li>Prenatal Care: The frequency and type of prenatal visits, tests, and medications can significantly impact the overall cost of childbirth. Regular prenatal care is crucial for monitoring the health of both the mother and the baby. However, the number of visits, the type of tests conducted (such as blood work, ultrasounds, or more advanced prenatal screening tests), and any additional medications prescribed can all contribute to the overall cost. Public hospitals typically offer a more standardised approach to prenatal care. In contrast, private hospitals may offer more frequent visits, additional tests, and a more comprehensive range of prenatal vitamins and supplements, all of which can add to the expenses.</li>
</ul>



<ul>
<li>Complications: In some cases, unforeseen complications may arise during pregnancy or delivery. These complications may necessitate additional medical interventions, extended hospital stays, and specialised care, significantly increasing the cost of childbirth. Examples of complications that can increase expenses include pre-eclampsia, gestational diabetes, infections, preterm labour, and postpartum haemorrhage.</li>
</ul>



<ul>
<li>Additional Services:&nbsp; Expectant parents in Nigeria have a growing range of extra services they can choose from depending on their budget and preferences. These optional services can add to the overall cost but may enhance the birthing experience. Examples include opting for private rooms during hospitalisation, epidural pain relief during labour, newborn photography services, and special dietary options.</li>
</ul>



<h2 class="wp-block-heading" id="h-cost-breakdown-by-trimester">Cost Breakdown by Trimester</h2>



<h3 class="wp-block-heading" id="h-the-first-trimester"> The First Trimester</h3>



The news of Chinyere&#8217;s pregnancy brought immense joy to her and her husband, Emeka. However, they quickly realised that this joy came with financial responsibilities. The first trimester involves regular antenatal visits, blood tests, and ultrasound scans to monitor the baby&#8217;s development and ensure Chinyere’s health.



In a public hospital, an initial antenatal visit costs from ₦5,000 to ₦10,000. Subsequent visits can cost between ₦2,000 and ₦5,000 each. Blood tests and ultrasounds, crucial during the first trimester, can cost an additional ₦10,000 to ₦20,000. On the other hand, private hospitals charge significantly higher fees.&nbsp;



The initial antenatal visit in a private hospital can range from ₦20,000 to ₦50,000, with each subsequent visit costing between ₦10,000 and ₦20,000. Blood tests and ultrasounds in private facilities can range from ₦30,000 to ₦50,000.



Prenatal vitamins are essential throughout pregnancy to support the baby&#8217;s healthy development. These typically include folic acid, iron, and calcium, costing between ₦5,000 and ₦10,000 per month. Depending on individual needs, the doctor may prescribe additional medications, such as medications to manage nausea and vomiting during morning sickness or antibiotics for any infections that may arise. The cost of these medications will vary.



<h3 class="wp-block-heading" id="h-the-second-trimester">The Second Trimester</h3>



As Chinyere entered her second trimester, she and Emeka began to prepare for their baby&#8217;s arrival. This period involves regular check-ups, and additional tests are necessary to ensure smooth progress.



<ul>
<li>Monthly Antenatal Visits: Regular check-ups to monitor the mother and baby’s health. Private hospitals charge between ₦10,000 to ₦25,000 per visit, while public hospitals charge between ₦2,000 to ₦7,000.</li>



<li>Anomaly Scan: A critical ultrasound to check the baby’s development and detect abnormalities. This can cost between ₦15,000 to ₦40,000 in private facilities and ₦5,000 to ₦15,000 in public facilities.</li>



<li>Glucose Tolerance Test: This test checks for gestational diabetes and typically costs between ₦5,000 to ₦15,000 in private hospitals and ₦2,000 to ₦5,000 in public hospitals.</li>
</ul>



This exciting phase also involves gathering all the essentials you&#8217;ll need for yourself and your newborn after delivery. This includes baby clothes, diapers, wipes, toiletries, breastfeeding supplies (if applicable), crib bedding, a car seat for safe travel home, and other nursery items.&nbsp;



For basic baby items such as clothing, diapers, and toiletries, costs can range from ₦50,000 to ₦100,000. Including a crib, mattress, and bedding, nursery items can add ₦100,000 to ₦300,000. High-end items such as strollers, car seats, and baby monitors can further increase expenses, with some parents spending between ₦200,000 and ₦500,000 on these items.



The pressure to provide the best for their baby can lead parents to make significant financial investments, sometimes stretching their budgets. However, with careful planning and prioritisation, it is possible to manage these costs effectively.



<h3 class="wp-block-heading" id="h-the-third-trimester">The Third Trimester</h3>



The third trimester brought excitement and anxiety for Chinyere and Emeka. With the baby&#8217;s arrival imminent, the frequency of antenatal visits increased, and they had to start planning for the actual delivery.



<ul>
<li>Bi-weekly or Weekly Antenatal Visits: As the due date approaches, visits become more frequent. Costs remain similar to those in the second trimester.</li>



<li>Non-Stress Test: This test monitors the baby’s heart rate and movements and costs around ₦10,000 to ₦20,000 in private hospitals and ₦3,000 to ₦10,000 in public hospitals.</li>



<li>Laboratory Tests: Additional blood tests may be required, costing between ₦5,000 to ₦15,000 in private facilities and ₦2,000 to ₦7,000 in public facilities.</li>
</ul>



<h2 class="wp-block-heading" id="h-the-cost-of-natural-delivery-nbsp">The Cost of Natural Delivery&nbsp;</h2>



A natural delivery in a public hospital can cost between ₦50,000 and ₦100,000, while a cesarean section can cost between ₦100,000 and ₦200,000. These costs can vary depending on the hospital and the complexity of the delivery.



Private hospitals, however, present a different picture. The cost of a natural delivery in a private hospital can range from ₦150,000 to ₦500,000, while a cesarean section can cost between ₦300,000 and ₦1,500,000. These figures do not include the cost of additional services like epidurals, which can add an extra ₦50,000 to ₦100,000 to the bill.



<h3 class="wp-block-heading" id="h-the-cost-of-cesarean-sections">The Cost of Cesarean Sections</h3>



For some mothers, a cesarean section is a necessary, lifesaving procedure. However, this choice comes with significant financial implications. Chinyere, unfortunately, had complications during her pregnancy, and her doctor recommended a cesarean section.



The cost of a cesarean section in public hospitals can vary widely. Basic cesarean sections can cost between ₦70,000 and ₦150,000, but complications or additional care can push the cost up to ₦200,000 or more. The price is substantially higher in private hospitals, with primary cesarean sections ranging from ₦300,000 to ₦1,500,000. Complications, additional care, and extended hospital stays can increase the cost, sometimes reaching ₦2,000,000 or more.



<h2 class="wp-block-heading" id="h-post-delivery-care">Post-Delivery Care</h2>



After the birth of their baby, Chinyere and Emeka quickly realised that post-delivery care also came with significant costs. This period involved regular postnatal check-ups, vaccinations, and care for both mother and baby.



In public hospitals, postnatal check-ups can cost between ₦2,000 and ₦5,000 per visit. Vaccinations, which are crucial for the baby&#8217;s health, can cost between ₦5,000 and ₦20,000, depending on the type of vaccine and the hospital. Additional care, such as lactation consulting and postpartum physiotherapy, can add to the expenses.



Private hospitals, on the other hand, charge significantly higher fees for postnatal care. Check-ups can cost between ₦10,000 and ₦30,000 per visit, and vaccinations can range from ₦20,000 to ₦50,000. Additional services, like lactation consulting and postpartum physiotherapy, can add another ₦50,000 to ₦100,000 to the bill.



<h2 class="wp-block-heading" id="h-how-you-can-plan-for-the-birth-of-your-child">How You Can Plan for the Birth of Your Child</h2>



Given the wide range of costs associated with giving birth in Nigeria, financial planning is crucial for a smooth and less stressful experience. Here are some tailored steps to help you prepare:



<ol>
<li>Create a Comprehensive Budget: Make a detailed list of potential expenses. This should encompass everything from prenatal vitamins and routine check-ups to delivery fees (whether considering a public hospital like Massey Street Children&#8217;s Hospital or a private facility like Reddington Hospital), postnatal care, and essential baby items. Don&#8217;t forget to factor in transportation costs, medications, and even the &#8216;omugwo&#8217; tradition (postpartum care provided by family). It&#8217;s wise to include a buffer of 10-20% for unexpected expenses.</li>
</ol>



<ol start="2">
<li>Explore Health Insurance Options: If you have health insurance, review your policy thoroughly to understand what&#8217;s covered under maternity care. This might include consultations, tests, and even a portion of the delivery costs. If your insurance doesn&#8217;t provide sufficient coverage, consider purchasing a maternity-specific plan. Several insurance providers in Nigeria offer these, and comparing them can help you find the best fit for your <a href="https://money.rise.capital/blog/family-budget-why-you-need-one/">needs and budget</a>.</li>
</ol>



<ol start="3">
<li>Save Regularly: Save early in your pregnancy to reduce the financial burden. Consider setting up a dedicated savings account for maternity expenses. Automate your savings by setting up recurring transfers from your primary account to your maternity savings account. This will help you stay disciplined and ensure a steady stream of funds towards your goal.</li>
</ol>



<ol start="4">
<li>Risevest is your partner; Use it. Risevest offers a range of financial planning tools and investment options that can help you save and invest towards your child&#8217;s birth and future needs. The<a href="https://risevest.com/kids"> Ris</a><a href="https://risevest.com/kids?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=kids">evest Kids Plan</a>, for example, is a flexible and accessible way to start saving for your child&#8217;s education, healthcare, or other essential expenses. By investing in this plan, you can use compounding returns over time, potentially accumulating significantly when your child needs it.</li>
</ol>



<ol start="5">
<li>Seek Support and Advice: Don&#8217;t hesitate to seek support and advice from your healthcare provider, friends, and family. They may have valuable insights and experiences to share on managing costs and finding affordable healthcare options. Additionally, many online forums and communities can offer support and guidance on navigating the financial aspects of pregnancy and childbirth in Nigeria.</li>
</ol>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



The cost of giving birth in Nigeria can be substantial, but with careful planning and financial management, these expenses can be managed effectively. Whether you choose a public or private hospital, understanding the costs and preparing accordingly can make the experience less stressful and more manageable.



Remember to consider all aspects of prenatal and postnatal care and plan for unexpected expenses. By creating a comprehensive budget, exploring insurance options, saving regularly, and utilising financial planning tools like the <a href="https://risevest.com/kids">Risevest</a><a href="https://risevest.com/kids?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=kids"> Kids Plan</a>, you can ensure a secure and healthy start for your child.



Investing in your child&#8217;s future is one of the best decisions you can make, and with the right financial strategies, you can provide them with the foundation they need to thrive.

The Cost of Giving Birth in Nigeria

Trust funds have long been a cornerstone of financial planning, providing a robust mechanism for wealth management and asset protection. They offer a flexible and secure way to ensure that assets are managed and distributed according to the grantor’s wishes, benefiting beneficiaries in the intended manner. This article explains the intricacies of trust funds, exploring their meaning, types, parties involved, setup process, and benefits.



<h2 class="wp-block-heading" id="h-what-is-a-trust-fund-nbsp">What is a Trust Fund?&nbsp;</h2>



A trust fund is a legal entity established to hold and manage assets on behalf of beneficiaries. Its primary purpose is to ensure that assets are used and distributed in accordance with the wishes of the person who created the trust, known as the grantor. Trust funds can contain various types of assets, including cash, stocks, bonds, <a href="https://money.rise.capital/blog/how-real-estate-returns-work-on-rise/">real estate</a>, and other valuable items.



The concept of a trust fund dates back to ancient times, with the earliest forms appearing in Roman law. Over centuries, the idea has evolved and become a critical tool in modern financial planning. Today, trust funds are used for a variety of purposes, from preserving family wealth across generations to supporting charitable causes.



<h2 class="wp-block-heading" id="h-who-are-those-involved-in-a-trust-fund-nbsp">Who are Those Involved in a Trust Fund?&nbsp;</h2>



Several key parties are involved in the creation and management of a trust fund:



<ol>
<li>Grantor: The individual who establishes the trust and transfers assets into it. The grantor sets the terms and conditions under which the trust will operate, including who the beneficiaries are and how the assets should be managed and distributed. The grantor can be an individual, a couple, or even an organisation.</li>



<li>Trustee: The person or entity responsible for managing the trust according to the grantor&#8217;s instructions. The trustee has a fiduciary duty to act in the best interests of the beneficiaries, ensuring that the assets are managed prudently and that the terms of the trust are followed. Trustees can be individuals, such as family members or friends, or professional entities, such as banks or trust companies.</li>



<li>Beneficiaries Aka trust fund babies: The individuals or organisations that are designated to receive the benefits from the trust. Beneficiaries can be family members, friends, charities, or other entities. The trust document will specify the conditions under which the beneficiaries can access the trust&#8217;s assets, including age milestones, educational achievements, or other criteria set by the grantor.</li>
</ol>



<h2 class="wp-block-heading" id="h-types-of-trust-funds">Types of Trust Funds</h2>



There are several types of trust funds, each designed to meet specific needs and objectives. Understanding the different kinds of trust funds is crucial for determining which is best suited for your situation. Some of the most common types include:



<ul>
<li>Revocable Trusts: Also known as living trusts, these can be altered or revoked at any time during the grantor&#8217;s lifetime. They provide flexibility and can help avoid probate, ensuring that the grantor retains control over the assets while they are alive. Upon the grantor&#8217;s death, the trust typically becomes irrevocable.</li>
</ul>



<ul>
<li>Irrevocable Trusts: Once established, these trusts cannot be easily changed or terminated without the beneficiaries&#8217; consent or court approval. They offer significant tax advantages and asset protection, as the assets are no longer considered part of the grantor&#8217;s estate for tax purposes.</li>
</ul>



<ul>
<li>Testamentary Trusts: Created through a will, these trusts take effect upon the grantor&#8217;s death. They are commonly used to manage estate distribution and ensure that assets are managed according to the grantor&#8217;s wishes. Testamentary trusts can be beneficial for providing for minor children or other dependents who may not be capable of managing large sums of money.</li>
</ul>



<ul>
<li>Charitable Trusts: Established to benefit charitable organisations, these trusts can provide tax deductions for the grantor. There are two main types of charitable trusts: charitable remainder trusts (CRT) and charitable lead trusts (CLT). CRTs provide income to the grantor or other beneficiaries for a specified period, after which the remaining assets go to the charity. CLTs, on the other hand, provide income to the charity for a specified period, after which the remaining assets go to other beneficiaries.</li>
</ul>



<ul>
<li>Special Needs Trusts: Designed to provide for the care of a person with disabilities without disqualifying them from government benefits. These trusts ensure the beneficiary can receive additional financial support without jeopardising their eligibility for programs like Medicaid or Supplemental Security Income (SSI).</li>
</ul>



<ul>
<li>Spendthrift Trusts protect beneficiaries from potential mismanagement of funds by restricting their access to the trust principal. These trusts can include provisions that limit how and when the beneficiaries can access the assets, providing protection against creditors and preventing the beneficiaries from squandering their inheritance.</li>
</ul>



<ul>
<li>Generation-Skipping Trusts: These trusts are designed to provide for grandchildren or later generations, bypassing the grantor&#8217;s children. The generation-skipping transfer tax exemption can help reduce estate taxes.</li>
</ul>



<ul>
<li>Asset Protection Trusts: Created to protect assets from creditors, lawsuits, and other claims. These trusts are typically established in jurisdictions with favourable trust laws and provide a high level of security for the grantor&#8217;s assets.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-to-set-up-a-trust-fund">How to Set Up a Trust Fund</h2>



Setting up a trust fund involves several steps, each requiring careful consideration and professional guidance. Here’s a step-by-step guide to setting up a trust fund:



<ul>
<li>Define the Purpose: Clearly articulate the purpose of the trust and the <a href="https://money.rise.capital/blog/how-you-can-achieve-your-goals-this-year-with-risevest/">goals you wish to achieve</a>. This may include providing for family members, supporting charitable causes, or managing business interests.</li>
</ul>



<ul>
<li>Choose the Type of Trust: Select the type that best meets your needs and objectives. Consider factors such as tax implications, asset protection, and the level of control you wish to retain.</li>
</ul>



<ul>
<li>Select a Trustee: Choose a trustworthy and competent individual or institution to manage the trust. The trustee will have significant responsibilities, so it&#8217;s important to select someone capable and reliable.</li>
</ul>



<ul>
<li>Draft the Trust Document: Work with a legal professional to draft the trust document, outlining the terms and conditions. This document will detail the trust&#8217;s purpose, the roles of the parties involved, and how the assets will be managed and distributed.</li>
</ul>



<ul>
<li>Transfer Assets: Fund the trust by transferring assets into it. This may involve changing the ownership of property, bank accounts, investments, and other assets to the trust&#8217;s name.</li>
</ul>



<ul>
<li>Implement and Manage: Ensure that the trust is managed according to the terms outlined in the trust document. This includes ongoing administration, such as filing taxes, making distributions to beneficiaries, and managing investments.</li>
</ul>



<h2 class="wp-block-heading" id="h-introducing-the-risevest-kids-plan">Introducing the Risevest Kids Plan</h2>



For parents looking to secure their children’s financial future, the Risevest Kids Plan offers an excellent option. It allows parents to set up a trust fund designed to cater to their children&#8217;s future needs, including education and other significant life expenses. The Risevest Kids Plan provides professional trust management, ensuring that the funds grow and are available when needed.



The Risevest Kids Plan is designed with flexibility and ease of use in mind. Parents can set up the plan quickly and start contributing immediately. The funds are managed by experienced financial professionals who ensure the <a href="https://money.rise.capital/blog/risevest-helps-achieve-investment-goals/">investments align with the family&#8217;s goals </a>and risk tolerance. The Risevest Kids Plan also offers regular updates and reports so parents can track the progress of their investments and make informed decisions about their children&#8217;s financial future.



<h2 class="wp-block-heading" id="h-why-set-up-a-trust-fund">Why Set Up a Trust Fund?</h2>



<ul>
<li>Asset Protection: Trust funds can shield assets from creditors and legal claims. By placing assets in a trust, the grantor can protect them from potential financial threats, ensuring that the beneficiaries receive their intended inheritance.</li>
</ul>



<ul>
<li>Estate Planning: Trusts help manage and distribute assets according to the grantor’s wishes, often avoiding the lengthy probate process. This can result in faster asset distribution to beneficiaries and reduced legal fees.</li>
</ul>



<ul>
<li>Tax Benefits: Certain types of trusts offer tax advantages, such as reducing estate taxes. For example, irrevocable trusts can remove assets from the grantor&#8217;s taxable estate, potentially saving significant amounts in estate taxes.</li>
</ul>



<ul>
<li>Control Over Assets: Trusts provide a way to control how and when beneficiaries receive assets. This can be particularly important for ensuring that young or financially inexperienced beneficiaries do not misuse their inheritance.</li>
</ul>



<ul>
<li>Financial Security: Trusts ensure that beneficiaries are provided for in a structured and reliable manner. This can provide peace of mind to the grantor, knowing that their loved ones will be taken care of according to their wishes.</li>
</ul>



<ul>
<li>Support for Charitable Causes: Charitable trusts can provide ongoing support for important causes to the grantor. By setting up a charitable trust, the grantor can ensure that their philanthropic goals are achieved in a tax-efficient manner.</li>
</ul>



<ul>
<li>Planning for Incapacity: Revocable living trusts can provide for the management of assets if the grantor becomes incapacitated. The trustee can manage the trust assets according to the grantor&#8217;s instructions, ensuring continuity and preventing potential disputes among family members.</li>
</ul>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Trust funds are a powerful tool in financial planning, offering numerous benefits and flexibility in managing and protecting assets. Whether you are looking to secure your family&#8217;s financial future, support a charitable cause, or ensure the proper management of your estate, a trust fund can provide the necessary framework to achieve your goals. With the proper planning and professional guidance, you can create a trust that meets your unique needs and provides lasting benefits for your beneficiaries.



You can use the Risevest <a href="https://money.rise.capital/blog/how-to-use-rise-to-give-your-kids-a-trust-fund/">Kids Plan to set up a trust fund</a> for your children. The Kids Plan offers a professional and reliable way to ensure your children’s future is financially secure. Investing in the Risevest Kids Plan gives your children a solid financial foundation and the resources they need to succeed.



Trust funds are a powerful tool in financial planning, offering numerous benefits and flexibility in managing and protecting assets. Whether you are looking to secure your family&#8217;s financial future, support a charitable cause, or ensure the proper management of your estate, a trust fund can provide the necessary framework to achieve your goals.



For those interested in setting up a trust fund for their children, consider the <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> Kids Plan. It offers a professional and reliable way to ensure that your children’s future is financially secure. Visit <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> today to learn more about how you can confidently start planning for your children’s future.

Trust Fund: Meaning, Types, and How it Works

Rise Stocks Portfolio &#8211; H1: 12.06%, June: 7.53%



Rise Real Estate Portfolio &#8211; H1: 6.60%, June: 1.16%



Rise Fixed Income Portfolio &#8211; H1: 4.98%, June: 0.83%



S&amp;P 500 &#8211; H1:15.43% , June: 3.83%



<h2 class="wp-block-heading" id="h-report-summary">Report Summary</h2>



The US stock market rallied in the first half of the year despite the ongoing global economic uncertainties. This performance was influenced majorly by continued surge in artificial intelligence-driven stocks. Major US stock indices, including the S&amp;P 500, NASDAQ 100, and DJIA, repeatedly shattered all-time highs during the first half of the year. However, this impressive rally had a narrow focus. Bank of America Global Research strategists revealed that only 24% of stocks in the S&amp;P 500 managed to outperform the index during this period.



The S&amp;P 500 rose by +15.3%, Nasdaq gained +18.6%, and DJIA gained +4.8% over the six-month period. The performance of these indices was bolstered by sterling performance of technology stocks, especially in the AI sector. A handful of Big Tech stocks fueled the S&amp;P 500’s rally this year, with shares of Nvidia Corp. surging around 155% in H1 2024. Meta Platforms Inc., Google parent Alphabet Inc., Amazon.com Inc., and Microsoft Corp. have all seen their shares soar more than the S&amp;P 500 index this year. The S&amp;P 500 was up more than 4% in the second quarter, after jumping 10.2% in the first three months of this year. 



In the US housing market, affordability concerns remain the primary driver of consumer housing sentiment. Although mortgage rates have started to decline, with the 30-yr mortgage rate at 6.95% in June down from 7.5% in May, there is still a slow in home sales due to the imbalance between demand and supply. High interest rates have made it difficult to finance home construction, hence impacting supply of houses. Home sales are forecast to grow towards the end of the year as mortgage rates decline and interest rates are cut.



US Treasury yield has trended higher across the first half of 2024, the 10-year Treasury yield dropped from its April peak of 4.7% to 4.4% in June, leaving the bond market relatively flat between April and June. The second half of the year in the treasury market is likely to be largely characterized by potential Fed rate cuts, bond market stabilization, cash holdings shifting to risk assets, and election-driven volatility.&nbsp;



On the macro front, investors were expecting the Fed to cut interest rates six times going into 2024. Although the Federal Reserve still maintains a wait-and-see attitude towards interest rate cuts, there hasn’t been a single rate cut yet. Reviewing how the first half of the year has panned out, the chances of getting six rate cuts is close to none. Investors and the market have settled for one or two rates by the end of the year. Additionally, cooling inflation, amidst other macroeconomic indicators giving mixed signals on the state of the economy, has given investors hope that there will be at least one rate cut later this summer. Unemployment rate has increased steadily for the past 3 months to 4.0% in May against a forecast of 3.9%.



<h2 class="wp-block-heading" id="h-asset-classes-overview">Asset Classes Overview</h2>



<h2 class="wp-block-heading" id="h-stocks-nbsp">Stocks:&nbsp;</h2>



For the first half of the year, our Rise stocks portfolio gained +12.06%. Our Rise stocks portfolio performance can be attributed to stellar performance in some of our major holdings such as Meta, Microsoft, Alphabet, Apple and Nvidia.



Our stocks portfolio comprises carefully selected stocks across top performing industries and industries resistant to market changes, this has helped us outperform the market and hedge against losses in the event of market volatility or descent. During the first half of the year, we added Novo Nordisk, Eli Lilly, Nvidia, Nu Holdings, Hims &amp; Hers, and Block Inc to further diversify and strengthen our portfolio across other industries.



Looking ahead, second-quarter earnings season kicks off this week with major banks including JPMorgan and Citigroup&nbsp; reporting. Investors will be watching whether profits from other companies are catching up with the &#8220;Magnificent 7&#8221;, many of which rebounded from struggles in 2022. More companies are projected to post improved earnings as many investors expect the economy to navigate a soft landing, which could boost stocks trading at more moderate valuations. Now is the time to get in on the Rise stocks portfolio and ride the coming rally in the market.



<h2 class="wp-block-heading" id="h-real-estate-nbsp">Real Estate:&nbsp;</h2>



Our Rise real estate portfolio has delivered a solid performance so far this year, achieving a 6.6% return for the first half and +1.16% for the month of June 2024. The real estate market is constantly evolving, with housing prices on a continuous rise. Despite the movement in the 30-year mortgage rate, which has moved between 6.62% to 6.95% in H1 (hitting a high of 7.22% in May), and the Federal Reserve&#8217;s slow action on cutting interest rates, our portfolio has managed to thrive.



Additionally, housing starts, a key indicator of new home construction, have been lower than expected which indicates that there is a shortage in supply of new houses in the market. This will drive house prices further and make people opt for rental properties instead of purchasing new homes. These factors, combined with our strategic positioning and adept property management, are the reasons why our underlying assets have performed well in a volatile market, providing favorable returns to our investors. We expect this performance to continue in the near future.



For the second half of 2024, we forecast the current housing situation to remain if interest &amp; mortgage rates stay high, and home prices keep rising. In the past quarter, we have seen slowing household income growth, rising unemployment rate, and a weaker economy further contribute to the current imbalance between supply and demand. However, we believe a combination of factors such as continued household income growth, a further slowing of home price appreciation, or a decline in mortgage rates will bring affordability within range of many waiting first-time and move-up home-buyers.



<h2 class="wp-block-heading" id="h-fixed-income">Fixed Income:</h2>



Our fixed-income portfolio also performed well in the first half of the year, generating a return of 4.98%, 0.83% for June 2024. Our steady and consistent returns underscores the effectiveness and reliability of our fixed-income strategy, providing passive income to our investors. Yields have remained relatively steady following the hawkish tone from the April FOMC meeting. Despite some initial volatility, yields on the benchmark U.S. 10-year treasury ended the quarter at 4.51%, +43bp above where it started the year. This stability in bond yields protected our Fixed-income plan from the larger market uncertainties and contributed to the overall positive performance of our fixed-income investments.&nbsp;



With headline inflation heading towards the Fed’s 2% target rate, and the labor market softening, we see a pathway to a rate cut of 25 bps this quarter and another 25 bps in November 2024. In our investment thesis, we maintain a preference for quality bonds, which should benefit as the Fed starts cutting rates.



As always, Rise is committed to helping you achieve your financial goals through thorough analysis and careful selection of investment opportunities. So, stay invested or click <a href="https://click.risevest.com/gb0g/ovb6r0h0">here</a> to begin investing.

Rise H1 & June Portfolio Report

Investing in the financial markets can be complex, but mutual and index funds offer relatively simple ways for individuals to grow their wealth. Despite their similarities, these two types of funds have distinct characteristics and advantages. This article will explore what mutual funds and index funds are, their key differences, and how they compare in terms of management, investment objectives, and costs.



<h2 class="wp-block-heading" id="h-what-are-mutual-funds">What are Mutual Funds?</h2>



Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of securities, such as stocks, bonds, and other assets. Each investor owns shares in the mutual fund, representing a portion of the holdings. Mutual funds are managed by professional portfolio managers who decide which securities to buy, hold, or sell to achieve the fund’s investment objectives.



<h2 class="wp-block-heading" id="h-key-features-of-mutual-funds">Key Features of Mutual Funds</h2>



<ul>
<li>Active Management: Most mutual funds are actively managed, meaning the portfolio manager actively selects securities and attempts to outperform the market or a specific benchmark.</li>



<li>Diversification: By investing in a wide range of securities, mutual funds help reduce risk.</li>



<li>Variety: Mutual funds come in various types, including equity funds, bond funds, balanced funds, and sector-specific funds.</li>



<li>Liquidity: Shares in mutual funds can typically be bought or sold at the fund&#8217;s net asset value (NAV) at the end of each trading day.</li>
</ul>



<h2 class="wp-block-heading" id="h-what-are-index-funds">What are Index Funds?</h2>



Index funds are a type of mutual fund designed to replicate the performance of a specific market index, such as the S&amp;P 500 or the Dow Jones Industrial Average. Instead of active management, index funds use a passive investment strategy. They invest in the same securities that make up the index in the same proportions.



<h2 class="wp-block-heading" id="h-key-features-of-index-funds">Key Features of Index Funds</h2>



<ul>
<li>Passive Management: Index funds aim to mirror the performance of a market index rather than trying to beat it.</li>



<li>Lower Costs: Index funds typically have lower management fees and operating expenses due to their passive management approach.</li>



<li>Predictability: Because they follow a set index, the composition of index funds is more predictable than actively managed funds.</li>



<li>Diversification: Like mutual funds, index funds also offer diversification across the securities within the index.</li>
</ul>



<h2 class="wp-block-heading" id="h-what-are-the-differences">What are the Differences?</h2>



While mutual and index funds share some similarities, they differ significantly in management style, cost structure, and investment philosophy.



<h3 class="wp-block-heading" id="h-management">Management</h3>



<ul>
<li>Mutual Funds: Actively managed by professional portfolio managers who make investment decisions to outperform a benchmark.</li>



<li>Index Funds: Passively managed to replicate the performance of a specific index, with minimal buying and selling of securities.</li>
</ul>



<h3 class="wp-block-heading" id="h-investment-objectives">Investment Objectives:</h3>



<ul>
<li>Mutual Funds: Aim to achieve higher returns than the market average by selecting a mix of securities based on the fund&#8217;s strategy.</li>



<li>Index Funds: Aim to match the performance of a particular index, offering a &#8220;set it and forget it&#8221; approach to investing.</li>
</ul>



<h3 class="wp-block-heading" id="h-costs">Costs</h3>



<ul>
<li>Mutual Funds: Due to active management, they typically have higher management fees and operating expenses. They may also include sales loads (commissions) and other fees.</li>



<li>Index Funds generally have lower fees and expenses since they do not require active management. Their passive nature reduces transaction costs and expense ratios.</li>
</ul>



<h3 class="wp-block-heading" id="h-risk">Risk:</h3>



<ul>
<li>Mutual Funds: Can have higher risk due to the active management strategy, which involves making specific investment decisions based on market conditions and the manager&#8217;s expertise.</li>



<li>Index Funds: Tend to have lower risk as they aim to replicate an index and benefit from broad diversification inherent in the index.</li>
</ul>



<h3 class="wp-block-heading" id="h-transparency">Transparency</h3>



<ul>
<li>Mutual Funds: Less transparent as the portfolio manager&#8217;s strategies and holdings are not always fully disclosed. They may only report holdings periodically.</li>



<li>Index Funds: Highly transparent because they replicate the holdings of a public index, allowing investors to know exactly what they are investing in.</li>
</ul>



<h3 class="wp-block-heading" id="h-performance-reliability">Performance Reliability:</h3>



<ul>
<li>Mutual Funds: Performance can vary significantly based on the portfolio manager&#8217;s skill and market conditions. There is a possibility of underperforming the market.</li>



<li>Index Funds: Offer more consistent performance as they aim to match the index, providing reliable returns that reflect the overall market performance.</li>
</ul>



Ready to take control of your financial future? Download the <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Rise </a>app today and start making smarter financial decisions that prioritize your needs and support your long-term goals.



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Both mutual and index funds offer unique benefits and can be valuable components of an investment portfolio. Mutual funds are ideal for investors seeking active management and the potential for higher returns, albeit with higher costs.



On the other hand, index funds appeal to those who prefer lower fees and a more predictable investment strategy that tracks a specific market index. Understanding the differences between these two types of funds can help investors make informed decisions that align with their financial goals and risk tolerance.

Mutual Funds and Index Funds: What Is The Difference?

Treasury bills, often referred to as T-bills, are one of the most secure and popular investment vehicles in Nigeria. They are government debt instruments issued by the Central Bank of Nigeria (CBN) to control the money supply and raise short-term funds for the government. Given their low-risk nature and ease of investment, T-bills have become a preferred choice for both individual and institutional investors.&nbsp; This article aims to provide comprehensive information about Treasury bills in Nigeria, including their workings, benefits, drawbacks, and how they compare to other investment options like treasury bonds.



<h2 class="wp-block-heading" id="h-what-are-treasury-bills">What are Treasury Bills?</h2>



Treasury bills are short-term securities issued by the government with maturities ranging from 91 to 364 days. They are sold at a discount to their face value, meaning investors buy them at a price lower than their nominal value and receive the total face value at maturity. The difference between the purchase price and the face value represents the interest earned by the investor.



<h2 class="wp-block-heading" id="h-how-do-treasury-bills-work">How Do Treasury Bills Work?</h2>



T-bills are typically issued through a competitive bidding process managed by the CBN. Investors submit bids indicating the amount they are willing to invest and the discount rate they expect. The CBN selects the most competitive bids until the total T-bills offered are fully subscribed. Successful bidders receive T-bills at the rates they bid, while others may have their bids partially accepted or rejected.



Once issued, T-bills can be held until maturity or sold in the secondary market before they mature. The interest earned on T-bills is the difference between the purchase price and the face value, and it is paid upfront since the bills are sold at a discount.



<h2 class="wp-block-heading" id="h-how-can-i-buy-treasury-bills">How Can I Buy Treasury Bills?</h2>



There are several ways to purchase Treasury bills in Nigeria:



<ul>
<li>Primary Market: Investors can buy T-bills directly from the CBN during periodic auctions. To participate, you need an account with a commercial bank or a discount house that can facilitate the purchase on your behalf.</li>



<li>Secondary Market: T-bills can also be bought from existing holders through the secondary market. This option provides flexibility as you can purchase T-bills with various remaining maturities.</li>
</ul>



<h3 class="wp-block-heading" id="h-to-buy-t-bills-follow-these-steps">To buy T-bills, follow these steps:</h3>



<ul>
<li>Open a Treasury bill account with a commercial bank.</li>



<li>Submit a bid form indicating the amount you want to invest and the discount rate.</li>



<li>Pay the amount due if your bid is successful.</li>
</ul>



<h3 class="wp-block-heading" id="h-what-is-the-minimum-amount-i-can-buy">What is the Minimum Amount I Can Buy?</h3>



The minimum investment amount for Treasury bills in Nigeria is typically ₦50,000. This makes T-bills accessible to many investors, from individuals to large institutions.



<h2 class="wp-block-heading" id="h-factors-that-affect-treasury-bill-prices">Factors That Affect Treasury Bill Prices</h2>



Several factors influence the pricing and yields of Treasury bills:



<ul>
<li>Interest Rates: T-bill yields are closely linked to prevailing interest rates. When interest rates rise, T-bill prices fall, and yields increase, and vice versa.</li>



<li>Inflation: Higher inflation expectations can lead to higher T-bill yields as investors demand compensation for the loss of purchasing power.</li>



<li>Government Policy: Government fiscal and monetary policy changes can impact T-bill prices. For example, increased government borrowing can drive up yields.</li>



<li>Economic Conditions: Economic stability and investor sentiment also influence T-bill pricing. During times of economic uncertainty, T-bill prices may rise due to increased demand for safe-haven assets.</li>
</ul>



<h2 class="wp-block-heading" id="h-when-is-the-interest-on-treasury-bills-usually-paid">When is the Interest on Treasury Bills Usually Paid?</h2>



The interest on Treasury bills, or the discount, is effectively paid upfront. This means that when you purchase T-bills, you pay less than the face value, and the difference between the purchase price and the face value represents your interest earnings. At maturity, you receive the total face value of the T-bill.



<h2 class="wp-block-heading" id="h-benefits-of-treasury-bills">Benefits of Treasury Bills</h2>



<ul>
<li>Low Risk: T-bills are considered one of the safest investments since the government backs them.</li>



<li>Liquidity: T-bills can be easily sold in the secondary market, providing liquidity to investors.</li>



<li>Predictable Returns: The returns on T-bills are known at the time of purchase, making them predictable.</li>



<li>Accessibility: With a low minimum investment amount, T-bills are accessible to a wide range of investors.</li>



<li>Tax Advantages: In some jurisdictions, the interest earned on T-bills may be tax-exempt.</li>
</ul>



<h2 class="wp-block-heading" id="h-cons-of-treasury-bills">Cons of Treasury Bills</h2>



<ul>
<li>Lower Returns: Compared to other investment options like stocks or corporate bonds, T-bills generally offer lower returns.</li>



<li>Inflation Risk: While T-bills are low-risk, their returns may not always keep pace with inflation, potentially eroding purchasing power.</li>



<li>Reinvestment Risk: If interest rates fall, reinvesting the proceeds from maturing T-bills at the same high yields may be challenging.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-are-t-bills-different-from-treasury-bonds">How Are T-Bills Different from Treasury Bonds?</h2>



While both T-bills and treasury bonds are government debt instruments, they differ in several key aspects:



<ul>
<li>Maturity: T-bills are short-term instruments with maturities of up to one year, while treasury bonds have longer maturities, typically ranging from 10 to 30 years.</li>



<li>Interest Payment: T-bills are sold at a discount and do not pay periodic interest, whereas treasury bonds pay semi-annual interest payments.</li>



<li>Investment Horizon: T-bills are suitable for short-term <a href="https://money.rise.capital/blog/risevest-helps-achieve-investment-goals/">investment goals</a>, while treasury bonds are better suited for long-term investments.</li>
</ul>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Treasury bills in Nigeria offer a secure and reliable investment option for those looking to preserve capital and earn predictable returns. Their low-risk nature, combined with the government&#8217;s backing, makes them an attractive choice for conservative investors. However, factors such as inflation and interest rates must be considered when investing in T-bills. Incorporating T-bills alongside other assets can provide stability and liquidity for those seeking a balanced investment portfolio.



Invest with Risevest



If you want to diversify your investment portfolio with ease and security, consider <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a>. Risevest offers a range of investment opportunities. Start your investment journey with <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> today and take control of your financial future.

Treasury Bills in Nigeria: Everything You Need To Know

Mutual funds have emerged as a famous investment avenue in Nigeria, allowing individuals to participate in the financial markets with relative ease and minimal risk. Understanding how mutual funds work, their examples in Nigeria, their global prevalence, and their advantages and disadvantages is crucial for anyone looking to diversify their investment portfolio. This article explores mutual funds, providing insights into their functioning and presence in Nigeria and how to invest in them.



<h2 class="wp-block-heading" id="h-how-mutual-funds-work">How Mutual Funds Work</h2>



Mutual funds operate by pooling money from various investors to invest in a diverse portfolio of securities such as stocks, bonds, money market instruments, or a combination thereof. These funds are managed by professional fund managers, who make investment decisions on behalf of the investors based on the fund&#8217;s objectives and investment strategy.



Investors in mutual funds purchase shares or units of the fund, representing their proportional ownership of the underlying assets. The value of these shares, known as Net Asset Value (NAV), fluctuates based on the performance of the fund&#8217;s investments. NAV is calculated by dividing the total value of the fund&#8217;s assets minus liabilities by the number of outstanding shares.



Mutual funds offer investors the opportunity to access a diversified portfolio without the need for significant initial investments, as well as the expertise of professional fund managers. They also provide liquidity, allowing investors to buy or sell their shares at the fund&#8217;s current NAV at any time.



<h2 class="wp-block-heading" id="h-mutual-fund-examples-in-nigeria">Mutual Fund Examples in Nigeria</h2>



Mutual funds have gained significant popularity in Nigeria among investors seeking exposure to the financial markets. Examples of mutual funds in Nigeria include:



<ul>
<li>Stanbic IBTC Asset Management Limited: Offers a range of mutual funds catering to various investment objectives, including equity, fixed income, and money market funds.</li>
</ul>



<ul>
<li>ARM Investment Managers: Provides mutual funds such as ARM Discovery Fund and ARM Aggressive Growth Fund, targeting different risk profiles and investment goals.</li>
</ul>



<ul>
<li>United Capital Asset Management manages mutual funds like the United Capital Bond Fund and United Capital Equity Fund, which offer investors access to fixed-income and equity markets.</li>
</ul>



These are just a few examples of the mutual funds available in Nigeria, each with its unique investment approach and objectives.



<h2 class="wp-block-heading" id="h-mutual-funds-in-other-parts-of-the-world">Mutual Funds in Other Parts of the World</h2>



Mutual funds are not exclusive to Nigeria; they are a global phenomenon with widespread adoption in various countries. In the United States, for instance, mutual funds are a cornerstone of the investment landscape, with a diverse array of funds spanning <a href="https://money.rise.capital/blog/how-to-decide-which-asset-class-is-best-for-you/">different asset classes</a> and investment strategies. Similarly, countries like India, South Africa, and the United Kingdom have thriving mutual fund industries, offering investors many options to suit their preferences and financial goals.



<h2 class="wp-block-heading" id="h-advantages-and-disadvantages-of-mutual-funds">Advantages and Disadvantages of Mutual Funds</h2>



<h3 class="wp-block-heading" id="h-advantages">Advantages:</h3>



<ul>
<li>Diversification: Mutual funds allow investors to spread their risk across various assets, reducing the impact of poor performance from any single investment.</li>
</ul>



<ul>
<li>Professional Management: Fund managers bring expertise and market knowledge to the table, making informed investment decisions on behalf of investors.</li>
</ul>



<ul>
<li>Liquidity: Investors can easily buy or sell mutual fund shares at the prevailing NAV, providing flexibility and liquidity.</li>
</ul>



<ul>
<li>Accessibility: Mutual funds are accessible to investors with varying capital levels, making them an inclusive investment option.</li>
</ul>



<h3 class="wp-block-heading" id="h-disadvantages">Disadvantages:</h3>



<ul>
<li>Fees: Mutual funds often charge management fees and other expenses, which can erode returns over time.</li>



<li>Risk of Underperformance: While professional management can be an advantage, there&#8217;s no guarantee that a mutual fund will outperform the market or its benchmark index.</li>



<li>Lack of Control: Investors relinquish control over the day-to-day management of their investments to the fund manager, which may not align with their individual preferences or risk tolerance.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-can-i-invest-in-mutual-funds">How Can I Invest In Mutual Funds?</h2>



<ul>
<li>Investing in mutual funds in Nigeria is a straightforward process. Here are the general steps to get started:</li>
</ul>



<ul>
<li>Research: Conduct thorough research to understand the different types of mutual funds available, their investment objectives, and historical performance.</li>
</ul>



<ul>
<li>Select a Fund: Choose a mutual fund that aligns with your investment goals, risk tolerance, and time horizon.</li>
</ul>



<ul>
<li>Open an Account: Contact the fund management company or a licensed distributor to open an investment account.</li>
</ul>



<ul>
<li>Invest Funds: Deposit the desired amount into your investment account and purchase shares or units of the chosen mutual fund.</li>
</ul>



<ul>
<li>Monitor and Review: Regularly monitor the performance of your mutual fund investments and adjust your portfolio as needed to stay aligned with your financial objectives.</li>
</ul>



Ready to take control of your financial future? Download the <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Rise </a>app today and start making smarter financial decisions that prioritize your needs and support your long-term goals.



In conclusion, mutual funds offer investors a convenient and efficient way to access diversified investment portfolios that professionals manage. While they provide advantages such as diversification and professional management, investors should know the associated fees and risks. By understanding how mutual funds work and conducting thorough research, individuals can make informed investment decisions to achieve their financial goals.

What is a Mutual Fund?

When inflation bites, Rise bites harder. On this episode of #MoneyRise, Joshua takes us through his investment journey on Rise and how he was able to achieve his wedding plans and other financial goals while navigating the rising cost of things. Read his story.



<h2 class="wp-block-heading" id="h-tell-us-a-little-about-yourself">Tell us a little about yourself.</h2>



My name is Joshua Adebanjo and I currently work as a business operations officer in a fintech company. Prior to that, I had worked at Jumia Nigeria as a customer service representative and telesales agent before taking a leap in my career. Aside from my 9-5, I&#8217;m also an entrepreneur, who sells fabrics (Senator materials)



<h2 class="wp-block-heading" id="h-what-inspired-your-entrepreneurial-journey">What inspired your entrepreneurial journey?</h2>



I couldn’t get a job after I was done with my national service and didn’t know what to do, so I decided to start a business with the money I had saved up from service allowance. However, I kept applying for jobs at different places and finally got an interview with Jumia, Nigeria, which was successful.



<h2 class="wp-block-heading" id="h-that-s-really-interesting-what-course-did-you-study">That&#8217;s really interesting. What course did you study?</h2>



I studied economics education at Tai Solarin University of Education. But going into teaching was a no deal for me because I never wanted to teach. I wanted to rely more on my strengths, and although I knew I was going to work in an organisation, I was open to other opportunities as long as they were not teaching jobs.



<h2 class="wp-block-heading" id="h-have-you-always-been-passionate-about-doing-business-or-was-it-something-borne-out-of-unemployment">Have you always been passionate about doing business or was it something borne out of unemployment?</h2>



Although I always wanted to work in a structured organisation, I knew during my service year that jobs were hard to come by. I decided to start saving a percentage of my service allowance towards my business from the first time we got paid. Shortly after, I found out that one of my colleagues in Kano had started a business. He’d waybill some materials from Kano to other parts of the country and I saw that it was a good and profitable business. I also realised it was something I could do, so I chatted him up and made some inquiries. I placed my first order exactly the day we had our POP, and that was how I started selling fabrics.



Barely a month after I started the business, I got a call from Jumia, went for the interview, and got selected out of the thousands of people who applied. I decided to just seize the opportunity to learn, kickstart my professional career journey, and build my portfolio. 



<h2 class="wp-block-heading" id="h-that-s-really-cool-how-has-the-journey-been-in-your-professional-career-journey">That&#8217;s really cool. How has the journey been in your professional career journey?</h2>



I would say it has been good. I&#8217;m thankful to Jumia Nigeria for the training and experience I got from working there. It&#8217;s really helped and is still helping me. My current workplace just recently diversified their offerings. It was strictly just coding, building applications and softwares for banks. But after the pandemic struck, they were all at home. Business was not moving as it ought to, so they decided to switch and build the team. I came in to help bring structure to the customer service department using the experience and knowledge I acquired as a customer service person at Jumia. Thankfully, there’s been a great change from that time till now. We’ve scaled and are now bigger than before. I’ll always be thankful to Jumia for the training and opportunity to learn. I&#8217;m not sure I would have made it far in my career if I didn’t work with them.



<h2 class="wp-block-heading" id="h-that-s-so-nice-what-are-some-of-the-challenges-you-ve-faced-so-far-especially-in-your-new-job-as-a-business-operations-officer">That’s so nice. What are some of the challenges you&#8217;ve faced so far, especially in your new job as a business operations officer?</h2>



Coming into a new place with no structure can be challenging. It is easier when you have a template or a script or set of instructions to follow. At Jumia, it was a different kind of setting— what we do and our offerings. It is also a different kind of setting here. Trying to adjust was a big deal when I joined. However, I was able to settle in after a while.



Another challenge was movement. My work is hybrid, so I have to leave my house to the Island some days, despite the amount of traffic. However, it has greatly improved and I have now attained a level of work-life balance. My company put things in place to ensure it. That way, I can even get enough done from the comfort of my room without having to go physically into the office and facing traffic all the time.&nbsp;



<h2 class="wp-block-heading" id="h-let-s-talk-about-rise-how-long-have-you-been-using-rise">Let’s talk about Rise; how long have you been using Rise?</h2>



I&#8217;ve been using Rise for about two and a half years now. I heard about the app from one of my friends who posted about five investment fintechs you could use in 2021, and Risevest was one of them. He also mentioned the advantages of investing with each of them, but the dollar investment caught my eyes. I downloaded the app, signed up but never got serious with it. I was just in the community group, trying to study and learn more about the company for about eight months.



Prior to that time, I was only saving but not investing due to the fear I had gotten from investing and losing money to MMM. I saved my money on a different platform, and at the end of 12 months, I saw the interest accrued was just 12k naira and knew right away that it wasn’t worth it. At that time, I was still a part of the <a href="https://money.rise.capital/blog/risevest-telegram-group-users-share-why-they-love-the-group/">Rise community</a> and had not made my deposit. I waited for the money I had with the other savings platform to mature so I could withdraw and use it to fund my Rise account. By the time I was ready, I understood how Risevest worked through the comments on the community group. I also used to check the frequently asked questions (FAQ) and officially made my first deposit in 2022 after about eight months of being in the group.&nbsp;



<h2 class="wp-block-heading" id="h-and-how-has-the-journey-been">And how has the journey been?</h2>



My journey has been nothing short of amazing. I like the fact that investment can be this simple, earning passively without doing much. Rise does the bulk of the work, and all I need to do is regularly fund my investments. The group is an additional advantage, especially to new beginners who don’t know where to start. So yes, the journey has been smooth so far, and I have not had any challenge since I joined. I’m thankful for the opportunity to invest in dollars, because it was never really something accessible to the average Nigerian. If you’re using a traditional bank, you probably need $500 or even more to start, but on Rise, you can start with as little as a dollar. It may not get you anywhere, but at least, you have that avenue to start. Rise is doing a great job, and I&#8217;ve been taking the gospel all around.



From my wedding to getting my apartment and buying new gadgets, Rise has been a big part of my life. I have used the app to do a lot of things and I’m grateful for that.



<h2 class="wp-block-heading" id="h-wedding-tell-us-more-about-it">Wedding? Tell us more about it.</h2>



Before I got married, I had always wanted my finances readily available, especially because I didn’t want to rely on people. I also had a set time in mind that I would like to settle down. So after I made my first deposit in 2022, I consistently topped up my investments at the end of the month towards that goal.



When the time came for my wedding, my plan matured and I initiated a withdrawal. I didn’t even need to withdraw everything in my plan because the exchange rate went up, and I also got help from a few people. Although inflation was high around the time I did my wedding, I wasn’t really bothered because I knew that my purchasing power was preserved on Rise. I knew that I could still go to the market and buy things I needed regardless of what happened.&nbsp;



<h2 class="wp-block-heading" id="h-would-you-say-the-exchange-rate-helped-in-making-your-goal-easier-to-reach">Would you say the exchange rate helped in making your goal easier to reach?</h2>



 Yes, absolutely. The exchange rate worked in my favour. For example, one time when I needed to change my phone, the exchange rate went up and I withdrew some money from my account to buy a new phone. Same thing happened when I got my new apartment and even furnished it. All because I was saving in dollars. If my money had been in naira, I’d have needed more money to cover the cost of these things because inflation keeps biting and prices keep skyrocketing. My purchasing power was preserved, thanks to Rise.



<h2 class="wp-block-heading" id="h-we-re-pleased-to-hear-this-what-would-you-say-is-your-favourite-thing-about-using-rise">We’re pleased to hear this. What would you say is your favourite thing about using Rise?</h2>



It’s hard to pick, so I’d say everything. I love everything, from the telegram group to the app’s interface. It’s a pretty easy app to navigate, even for new users. I also like that you don’t just start investing; the app asks you questions to determine your risk appetite to guide you through the right asset class to start with and even break down the process for you. The app is topnotch, the telegram group too. I like the knowledge being impacted by the CEO, Eke, Dotche, Martins and every other person on the platform. It is usually fun and educational since we have like-minded people who share ideas and opportunities with one another. Another important thing is the easy access to the team; you can reach out any time you have any issue or concern, and you’ll get a response or resolution immediately. You don’t usually get that with other companies.&nbsp;



<h2 class="wp-block-heading" id="h-now-that-your-wedding-is-done-what-does-the-next-five-or-more-years-look-like-for-you-on-rise">Now that your wedding is done, what does the next five or more years look like for you on Rise?</h2>



By then, I want to have met my investment goal of a certain amount which I cannot mention. I also want to have my retirement plan sorted out. I’m also hoping to have invested enough to get some things that I want. Basically, in five years, I want to be in a better place financially. I want to get to that point where I smile when my real estate returns come in because they are in 4 figures or even more. Oh, I also want to have invested towards my kids future using the Kids Plan on Rise. That’s non-negotiable for me.



<h2 class="wp-block-heading" id="h-we-love-to-hear-it-on-a-scale-of-1-10-how-likely-are-you-to-recommend-rise-to-people">We love to hear it! On a scale of 1-10, how likely are you to recommend Rise to people?</h2>



I’d say 9. Rise has earned my trust and my experience has been nothing short of amazing. I have recommended Rise to my sister and wife. And going by my records, I have referred about 19 other people. I usually write a short message on finance and investing, then add my referral link to the post. We even have a program this evening in our church’s youth group, where we will discuss the country’s economy, finance and investing, so I definitely will be pitching Rise to them.



Be like Joshua, too. Plan your future and invest towards your financial goals on Rise. Click <a href="https://click.risevest.com/gb0g/ovb6r0h0">here</a> to start investing.

“From My Wedding To Getting My Apartment And Buying New Gadgets, Rise Has Been A Big Part Of My life. My Name Is Joshua, And This Is How I Make My #MoneyRise.”

Japa: What Happens When Citizens Check Out Of Their Country

Being financially literate is crucial today because It&#8217;s more than just knowing how to handle money; it&#8217;s about understanding the ins and outs of finances, making wise choices, and navigating tricky financial situations easily. This article dives deep into financial intelligence, the key skills needed to get there, its perks, how to boost it, mistakes to dodge, and where to find helpful resources.&nbsp;



<h2 class="wp-block-heading" id="h-what-are-the-components-of-financial-intelligence">What are the Components of Financial Intelligence?</h2>



<ul>
<li>Financial intelligence comprises several interrelated components that collectively contribute to one&#8217;s ability to make sound financial decisions:</li>
</ul>



<ul>
<li>Financial Literacy: Understanding basic financial concepts such as budgeting, saving, investing, debt management, and risk diversification. Financially literate individuals can interpret financial statements, assess investment options, and comprehend the implications of financial decisions.</li>
</ul>



<ul>
<li>Analytical Skills: Financial intelligence necessitates the ability to analyse financial data critically. This includes interpreting financial statements, evaluating investment opportunities, and assessing the financial health of businesses or individuals.</li>
</ul>



<ul>
<li>Strategic Thinking: Effective financial intelligence involves strategic planning and foresight. Individuals must anticipate potential financial challenges, set <a href="https://money.rise.capital/blog/risevest-helps-achieve-investment-goals/">achievable goals</a>, and develop actionable plans for financial stability and prosperity.</li>
</ul>



<ul>
<li>Risk Management: Assessing and mitigating risks is fundamental to financial intelligence. This involves <a href="https://money.rise.capital/blog/shine-your-eyes-how-to-identify-fraud-investment-schemes/">identifying potential risks associated with investments</a>, business ventures, or financial decisions and implementing strategies to minimise their impact.</li>
</ul>



<ul>
<li>Decision-Making Skills: Sound financial intelligence equips individuals to make rational and informed financial decisions amidst uncertainty. This includes weighing options, considering long-term consequences, and aligning decisions with overarching financial goals.</li>
</ul>



<h2 class="wp-block-heading" id="h-skills-required-for-financial-intelligence">Skills Required for Financial Intelligence</h2>



Developing financial intelligence necessitates honing specific skills that are instrumental in navigating the complexities of personal and professional finance:



<ul>
<li>Critical Thinking: Financially intelligent individuals possess strong critical thinking skills, enabling them to analyse information objectively, identify patterns, and make informed judgments.</li>
</ul>



<ul>
<li>Numeracy: Proficiency in mathematics is crucial for interpreting financial data, performing calculations, and understanding complex financial concepts such as interest rates, compound growth, and valuation metrics.</li>
</ul>



<ul>
<li>Communication Skills: Effective communication is vital for conveying financial information clearly and persuasively, whether in discussions with financial advisors, presentations of investment proposals, or negotiations of financial agreements.</li>
</ul>



<ul>
<li>Problem-Solving Abilities: Financially intelligent individuals excel at problem-solving. They are adept at identifying challenges, evaluating potential solutions, and implementing strategies to overcome obstacles.</li>
</ul>



<ul>
<li>Adaptability: Given the dynamic nature of financial markets and economic conditions, adaptability is essential for adjusting financial strategies in response to changing circumstances and seizing emerging opportunities.</li>
</ul>



<ul>
<li>Emotional Intelligence: Emotional intelligence plays a significant role in financial decision-making, enabling individuals to manage emotions such as fear, greed, and impulsivity that can impair judgment and lead to poor financial outcomes.</li>
</ul>



<h2 class="wp-block-heading" id="h-benefits-of-financial-intelligence">Benefits of Financial Intelligence</h2>



The cultivation of financial intelligence yields numerous benefits, both in personal and professional spheres:



<ul>
<li>Financial Stability: Financially intelligent individuals are better equipped to manage their finances prudently, reducing the likelihood of financial distress and instability.</li>
</ul>



<ul>
<li>Wealth Accumulation: Individuals with high financial intelligence can accumulate wealth more effectively over time by making informed investment decisions and capitalizing on opportunities.</li>
</ul>



<ul>
<li>Risk Mitigation: Financial intelligence enables individuals to identify and mitigate financial risks, safeguarding their assets and investments against unforeseen circumstances.</li>
</ul>



<ul>
<li>Improved Decision-Making: Enhanced financial intelligence leads to better decision-making, resulting in more favourable outcomes in various financial endeavours.</li>
</ul>



<ul>
<li>Enhanced Career Prospects: Employers value employees with strong financial acumen, as they can contribute effectively to strategic decision-making, financial planning, and resource allocation within organisations.</li>
</ul>



<ul>
<li>Personal Empowerment: Financial intelligence empowers individuals to take control of their financial futures, enabling them to pursue their goals and aspirations with confidence and autonomy.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-do-i-become-financially-intelligent">How Do I Become Financially Intelligent?</h2>



Building financial intelligence is a gradual process that requires commitment, education, and practical experience. Here are actionable steps to enhance your financial intelligence:



<ul>
<li>Educate Yourself: Invest in financial education by reading books, attending seminars, taking online courses, and leveraging reputable financial resources to broaden your knowledge base.</li>
</ul>



<ul>
<li>Set Clear Financial Goals: Define your short-term and long-term financial goals, ensuring they are specific, measurable, achievable, relevant, and time-bound (SMART).</li>
</ul>



<ul>
<li>Create a Budget: Establish a budget to track your income and expenses. This will allow you to allocate resources efficiently and identify areas for potential savings or investments.</li>
</ul>



<ul>
<li>Diversify Your Investments: Avoid putting all your eggs in one basket by diversifying your investment portfolio across different <a href="https://money.rise.capital/blog/how-a-strong-network-contributes-to-wealth-building/">asset classes</a> such as stocks, bonds, real estate, and alternative investments.</li>
</ul>



<ul>
<li>Seek Professional Advice: Consult with financial advisors or planners to gain personalised guidance on financial planning, investment strategies, and risk management tailored to your individual circumstances.</li>
</ul>



<ul>
<li>Stay Informed: Keep abreast of current financial news, market trends, and economic developments to make informed decisions and adapt your financial strategies accordingly.</li>
</ul>



<ul>
<li>Practice Prudence: Exercise prudence and restraint in financial matters, avoiding impulsive decisions or excessive risk-taking that could jeopardise your financial well-being.</li>
</ul>



<h2 class="wp-block-heading" id="h-common-mistakes-to-avoid-when-building-financial-intelligence">Common Mistakes to Avoid When Building Financial Intelligence</h2>



While on the journey to developing financial intelligence, it&#8217;s essential to steer clear of common pitfalls that could hinder your progress:



<ul>
<li>Overlooking Financial Planning: Failing to create a comprehensive financial plan can leave you directionless and vulnerable to financial setbacks.</li>
</ul>



<ul>
<li>Ignoring Risk Management: Neglecting to assess and mitigate financial risks can expose you to significant losses and undermine your financial security.</li>
</ul>



<ul>
<li>Lack of Discipline: Succumbing to impulsive spending or investment decisions can derail your financial goals and impede your path to financial intelligence.</li>
</ul>



<ul>
<li>Failing to Diversify: Concentrating your investments in a single asset class or market sector increases your exposure to risk and diminishes your portfolio&#8217;s resilience.</li>
</ul>



<ul>
<li>Neglecting Financial Education: Underestimating the importance of ongoing financial education can limit your ability to adapt to changing financial circumstances and capitalise on opportunities.</li>
</ul>



<ul>
<li>Overconfidence: Excessive confidence in your financial acumen can lead to complacency and blind spots, increasing the likelihood of costly mistakes.</li>
</ul>



<h2 class="wp-block-heading" id="h-recommended-resources-for-improving-financial-intelligence">Recommended Resources for Improving Financial Intelligence</h2>



For individuals seeking to enhance their financial intelligence, numerous resources are available:



<ul>
<li>Books: &#8220;Rich Dad Poor Dad&#8221; by Robert Kiyosaki, &#8220;The Intelligent Investor&#8221; by Benjamin Graham, and &#8220;The Total Money Makeover&#8221; by Dave Ramsey are acclaimed books that offer valuable insights into personal finance, investing, and wealth-building.</li>
</ul>



<ul>
<li>Online Courses: Platforms like <a href="https://www.coursera.org/">Coursera</a>, <a href="https://www.udemy.com/">Udemy</a>, and Khan Academy offer many online courses covering various aspects of financial literacy, investment strategies, and financial planning.</li>
</ul>



<ul>
<li>Financial Websites and Blogs: Investopedia, The Motley Fool, and NerdWallet provide comprehensive resources, articles, and tools to enhance financial knowledge and decision-making.</li>
</ul>



<ul>
<li>Podcasts: Financial podcasts like &#8220;The Dave Ramsey Show,&#8221; &#8220;Planet Money,&#8221; and &#8220;The Tim Ferriss Show&#8221; feature informative discussions on personal finance, investing, and entrepreneurship.</li>
</ul>



<ul>
<li>Financial Advisors: Seeking guidance from certified financial advisors or planners can provide personalised recommendations and strategies tailored to your financial goals and circumstances.</li>
</ul>



<ul>
<li>Financial Communities and Forums: Engaging with online financial communities and forums such as Reddit&#8217;s r/personalfinance or Bogleheads.org allows you to seek advice, share experiences, and learn from the collective wisdom of others.</li>
</ul>



<ul>
<li>Financial News Outlets: Following reputable financial news outlets like CNBC, Bloomberg, and Financial Times provides up-to-date information on market trends, economic developments, and financial analysis.</li>
</ul>



<ul>
<li>Financial Apps: Utilize financial apps such as Mint, Personal Capital, or YNAB (You Need a Budget) to track expenses, monitor investments, and manage budgets effectively.</li>
</ul>



<ul>
<li>Continuing Education Programs: Many universities and educational institutions offer continuing education programs in finance, investing, and financial planning, providing opportunities for further skill development and credentialing.</li>
</ul>



<ul>
<li>Webinars and Seminars: Attend webinars, workshops, and seminars hosted by financial experts and industry professionals to gain valuable insights, strategies, and best practices in <a href="https://money.rise.capital/blog/risevest-investing-user-story-vera/">personal finance and investing</a>.</li>
</ul>



<ul>
<li>By leveraging these resources and actively engaging in continuous learning, individuals can enhance their financial intelligence, make informed decisions, and achieve financial success.</li>
</ul>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Financial intelligence is a multifaceted skill set encompassing financial literacy, analytical abilities, strategic thinking, risk management, and decision-making skills. By cultivating financial intelligence, individuals can achieve greater financial stability, accumulate wealth, mitigate risks, and make informed decisions in various financial endeavours.



Developing financial intelligence requires ongoing education, practical experience, and a commitment to sound financial principles. Avoiding common mistakes and leveraging recommended resources can expedite the journey toward financial intelligence, empowering individuals to take control of their financial futures and achieve their goals.



Ready to take control of your financial future? Download the <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Rise </a>app today and start making smarter financial decisions that prioritize your needs and support your long-term goals.

What is Financial Intelligence?

When it comes to investing, there’s only one thing we can be sure of: no one can predict what will happen in the market.



Despite the countless investment concepts, books, and data available, we aren’t very good at predicting when the market will go up and down. For example, in 2007, Goldman Sachs&#8217; chief investment strategies predicted that 2008 would be a great year for the economy and that the S&amp;P 500 would climb 14%. In 2008, a severe economic recession hit the stock market—and the world—and it took several years to recover.



What we are saying is that no matter how many data points, geopolitical analyses, expert opinions, and astrological charts we have to work with, history shows we&#8217;re not very good at predicting the future. The world is complicated, forces are unseen, and markets are volatile.



<h2 class="wp-block-heading" id="h-why-are-we-telling-you-this-nbsp">Why are we telling you this?&nbsp;</h2>



Our advice to investors has always been to expect rough patches in the market, don’t be surprised by them, and stick to your plan. But we also know it’s hard not to panic when the market moves erratically. You’ll want to buy more when it skyrockets—and you’ll want to<a href="https://money.rise.capital/blog/the-stock-market-is-at-an-all-time-high-should-i-double-down-or-sell-everything/"> sell everything </a>when it goes down! This is what is known as emotional investing.&nbsp;



Emotional investing occurs when investors make decisions based on strong emotions, such as fear, greed, euphoria, or panic, rather than rational analysis and evaluation. This can lead to impulsive and irrational choices that may not align with the<a href="https://money.rise.capital/blog/my-name-is-simisoluwa-and-this-is-how-i-make-my-moneyrise/"> investor&#8217;s long-term investment goals</a>. These investing choices are more reactive since the investor bases them more on market volatility and swings than on fundamental analysis and study.



Emotional investors also make choices based on what others are doing, such as purchasing a specific stock if others are doing the same (herd mentality). Impulsive judgments based on short-term market changes are indications of emotional investing, which ignores basic principles, including asset allocation, risk tolerance and diversification.



<h2 class="wp-block-heading" id="h-mistakes-people-make-when-they-invest-emotionally">Mistakes People Make When They Invest Emotionally.</h2>



<ul>
<li>Trying to time the market: Emotional investors often try to predict when to buy or sell investments based on their emotions. They may buy when prices are high due to excitement or sell when prices are low due to fear. However, predicting short-term market movements is difficult and can lead to poor investment outcomes. Emotional investors may miss out on potential gains by selling during <a href="https://money.rise.capital/blog/stock-market-downturns-might-be-good-for-you-heres-why/">market downturns</a> or buying at inflated prices during market peaks.</li>
</ul>



<ul>
<li>Reacting to market news: Emotional investors tend to make impulsive investment decisions based on news events, especially negative ones. They may react quickly to sensationalised headlines or short-term market fluctuations without considering the <a href="https://money.rise.capital/blog/heres-why-you-should-avoid-the-exchange-rate-noise-and-focus-on-your-long-term-investment/">long-term results of the investment</a>. This reactive behaviour can result in buying or selling without considering the fundamentals of the investment.</li>
</ul>



<ul>
<li>No diversification: Emotional investors often put their money into a single stock or industry due to emotional attachments or FOMO (fear of missing out) on the investment. This lack of diversification in investor portfolios increases the risk of losses if the specific investment performs poorly. A well-diversified portfolio spreads investments across different assets and can help reduce the impact of one investment’s performance on the overall portfolio.</li>
</ul>



<ul>
<li>Ignoring fundamental analysis: Emotional investors overlook the importance of analysing a company’s financial health, earnings potential, and market position. Instead, they may rely on rumours, grapevine, or emotional biases when making investment decisions. This can lead to investing in companies without strong fundamentals or missing out on solid investment opportunities.</li>
</ul>



<h2 class="wp-block-heading" id="h-how-to-avoid-emotional-investing">How to Avoid Emotional Investing </h2>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="258" height="196" src="https://money.rise.capital/wp-content/uploads/2024/05/Emotional-Investing-Risevest.png" alt="Emotional Investing Risevest" class="wp-image-3307" style="width:395px;height:auto"/></figure></div>


<ul>
<li> Automate Your Investing decisions</li>
</ul>



One of the easiest ways to keep emotions out of your investing decisions is to make your decisions before emotions get involved. Automating investments by making regular contributions to your plans or setting up automatic withdrawals if you’re already retired can help simplify the process and remove emotions from the equation.



One benefit of automating your investment decisions is that it instilsinstills discipline in your financial strategy. By setting up regular contributions to your investment accounts or automatic withdrawals for retirement, you establish a consistent pattern of saving and investing. This disciplined approach can help you stay on track towards your financial goals, regardless of short-term market fluctuations.



Moreover, automation can serve as a form of psychological insulation against the noise and hype of the financial markets. When you automate your investments, you&#8217;re essentially committing to a predetermined plan, which reduces the temptation to react impulsively to market news or fluctuations. This can be especially crucial during times of market volatility when emotions are running high and investors may be prone to making irrational decisions.



Additionally, automation can save you time and effort by streamlining the investment process. Instead of constantly monitoring the markets and manually executing trades, you can set up your investment strategy once and let it run on autopilot. This frees up mental bandwidth that you can allocate to other important aspects of your life, whether it&#8217;s advancing your career, spending time with family, or pursuing personal interests.



<ul>
<li>Block the Noise</li>
</ul>



When a financial or economic crisis hits, the barrage of information can be overwhelming, and it&#8217;s easy to get caught up in the panic and frenzy of the market. However, it&#8217;s crucial to maintain a level head and stick to your long-term investment strategy. Remember, market downturns are a natural part of the economic cycle, and they often present opportunities for those who remain disciplined.



Instead of reacting impulsively to every piece of news, take a step back and assess the situation objectively. Review your investment goals, risk tolerance, and asset allocation to ensure they align with your long-term financial objectives. By focusing on the fundamentals and staying true to your strategy, you can avoid making emotional decisions that could jeopardize your financial future.



Additionally, consider diversifying your portfolio to spread risk across different asset classes and geographic regions. Diversification can help mitigate the impact of market volatility and reduce the overall risk of your investment portfolio. By maintaining a diversified portfolio tailored to your individual needs, you can better weather market fluctuations and stay on track to achieve your financial goals. 



<ul>
<li> Avoid market timing</li>
</ul>



One common emotional reaction people might have when it comes to investing is in response to a deteriorating economy. If you think the economy is headed for a recession, you might think that you should sell your stocks to avoid losses when the economy is down and then buy them back before things improve. But in reality, this is extremely difficult to do.



Attempting to time the market in this way requires not only predicting economic trends accurately but also foreseeing how the market will react to those trends. However, the market&#8217;s response to economic news is often unpredictable and can be influenced by various factors such as investor sentiment, geopolitical events, and unexpected developments.



Moreover, selling stocks during a downturn means realizing losses, which can be emotionally challenging for you. It&#8217;s natural to feel a sense of panic or fear during turbulent market conditions, but succumbing to these emotions can lead to impulsive decisions that may harm your long-term investment goals.



Instead of trying to time the market, a more prudent approach is to focus on the fundamentals of investing, such as diversification, asset allocation, and a long-term perspective. History has shown that markets tend to recover from downturns over time, and staying invested through periods of volatility can lead to better outcomes in the long run.



Additionally, rather than reacting emotionally to short-term market movements, you should stick to your investment plan and rebalance your portfolio periodically to ensure alignment with your risk tolerance and financial objectives. By staying disciplined and avoiding knee-jerk reactions, you can navigate market downturns with greater confidence and resilience.



<ul>
<li>Focus on your Long-term plan</li>
</ul>



It&#8217;s crucial for you to understand that market volatility is a natural part of investing. While the overall trajectory of major indices like the S&amp;P 500 may appear as a steady climb over the years, closer inspection reveals periods of significant fluctuation. These fluctuations, or &#8220;hiccups,&#8221; as you aptly described them, are not anomalies but rather predictable occurrences in the market cycle.



For instance, historical data on the S&amp;P 500 highlights regular downturns of around 5% twice a year, dips of approximately 10% every couple of years, and more substantial corrections of about 20% every three to five years. These fluctuations can unsettle you, leading to emotional reactions such as panic selling or impulsive buying.



However, as a smart investor, you adhere to a well-defined long-term plan that anticipates and accommodates market volatility. Instead of reacting emotionally to short-term market movements, you stay focused on your investment goals and maintain a disciplined approach.



One effective strategy for navigating market volatility is dollar-cost averaging. This method involves investing a fixed amount of money at regular intervals, regardless of market conditions. By spreading out investments over time, you can mitigate the impact of market fluctuations and potentially benefit from buying assets at lower prices during downturns.



Additionally, diversification plays a crucial role in managing risk within your investment portfolio. By allocating assets across different asset classes, sectors, and geographical regions, you can reduce the impact of adverse events affecting any single investment.



In essence, while market volatility may cause temporary setbacks, investors like you who adhere to a well-thought-out long-term plan, remain disciplined, and employ strategies like dollar-cost averaging and diversification are better positioned to weather fluctuations and achieve their investment objectives over time.



<h2 class="wp-block-heading" id="h-conclusion">Conclusion </h2>



In conclusion, investing with your head, not your heart, is the cornerstone of successful wealth management. The unpredictability of the market underscores the importance of maintaining a disciplined and rational approach to investing, especially during periods of heightened volatility.



Emotional investing, driven by fear, greed, or herd mentality, can lead to costly mistakes and derail long-term financial goals. Instead, investors should focus on strategies that mitigate emotional biases and promote sound decision-making.



Automating investment decisions, blocking out market noise, avoiding attempts to time the market, and adhering to a well-defined long-term plan are essential components of this approach. By staying disciplined, diversifying portfolios, and focusing on fundamentals, investors can navigate market fluctuations with confidence and increase their chances of achieving financial success over the long term.



Ultimately, the key to successful investing lies in understanding that volatility is inevitable, but with a clear-headed strategy and a steadfast commitment to your financial plan, you can weather the storms and emerge stronger on the other side. So remember, invest with your head, not your heart, and let reason, not emotion, guide your path to financial prosperity.



Ready to start your journey towards financial freedom? Use <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a>, a platform designed to empower investors with the tools and resources you need to build wealth intelligently. With <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a>, you can access a range of investment options, personalized guidance, and ongoing support to help you achieve your financial goals. Take the first step towards a brighter financial future with <a href="https://app.risevest.com/signup?utm_source=blog&amp;utm_medium=mid_post">Risevest</a> today.

How To Avoid Emotional Investing Risevest

<img loading="lazy" decoding="async" src="https://lh7-us.googleusercontent.com/9WeBALbn8P0oV0APeegiZzL1Wzy31oPpNFP9Cc_zvLWm3I6DYs8OUs-R3Fa4CiCK5AmlIMJknYxC3V_JZ9aBGZVsWSRTeBqs9ncXtY5URG5z-Qf6YijU8Y2j26rWzKUrV77ZaAohfqxRdle2LrJSeGQ" width="624" height="269">



The exchange rate has fluctuated significantly in the last few weeks, and we know that some of you have concerns regarding your investments and how these changes impact your money. Our goal is to shed more light on how to best consider current realities in order to make the best long-term decisions about your finances.&nbsp;



<h2 class="wp-block-heading" id="h-your-long-term-returns-on-rise-beat-the-exchange-rate-impact">Your long-term returns on Rise beat the exchange rate impact</h2>



<img loading="lazy" decoding="async" src="https://lh7-us.googleusercontent.com/dUdlFyum1_wNXd0Xs6zXv8b8en7pEfSMRBX-l_THcMNmh5VoFyF0MN4CWphcKjou_e9J1dBKP37FIxsO-MMJSbKylzm-V5AiPGHkwxxsuy0lD4-BWhWY0WobY0Ni01MT4PGWC0MHTO7MOQTx6DpYH2s" width="624" height="351">



The first thing to keep in mind is that beyond the impact of exchange rates, your investments are generating stable long-term returns across multiple asset classes. Over time, this will do more to grow your wealth than any temporary fluctuations in the exchange rate.



For instance, between January 2024 and today, users have earned 15.85% on stocks, 3.09% on <a href="https://money.rise.capital/blog/how-real-estate-returns-work-on-rise/">real estate</a> and 2.5% on fixed income assets in USD terms. 



Despite the significant drop in exchange rates, users&#8217; returns are still positive. If you stretch this over to the year we founded Rise, returns have been stable and your money has grown so much more than any impact of exchange rate volatility, regardless of the timeline of your USD. Hence, our long term investors are and will continue to be better off.&nbsp;



<h2 class="wp-block-heading" id="h-naira-options-are-available-on-your-account">Naira options are available on your account.</h2>



For users who funded more recently at higher exchange rates than today, who may be more impacted by the short term volatility and would rather protect their money in naira today, we added a naira wallet to make it easy to shift from USD to naira when exchange rates are volatile. That way, you don’t experience further losses and can wait out any volatility. You also have the option of earning up to 20% returns in naira per annum by leaving your naira in the vault. There is no exchange rate exposure and you still benefit from earning <a href="https://money.rise.capital/blog/user-story-with-chioma/">returns on your investments</a> in your preferred currency. We designed the <a href="https://money.rise.capital/blog/introducing-naira-wallet-on-rise/">naira wallet</a> and vault to help you hedge against such volatility and we encourage you to take advantage of it. 



<h2 class="wp-block-heading" id="h-when-in-doubt-use-our-cost-averaging-strategy">When in doubt, use our cost-averaging strategy.</h2>



For some of us who prefer to invest consistently without having to predict or worry about the timing of exchange rates or returns, our preferred strategy is to use a dollar cost averaging (DCA) method. This is when you have a set amount of money you want to invest each month, just like you pay your other bills. Every month, you take that amount, and fund your preferred investment (whether naira or dollar) on schedule. The <a href="https://money.rise.capital/blog/7-reasons-why-you-should-invest-with-risevest/">gain of this approach is that when exchange rates are lower</a>, you invest a larger dollar amount and when exchange rates are higher, your dollar investment is lower. But for you, this frees you from trying to time the market and instead allows you to make consistent and steady progress towards your long term goals. 



The best way to do this is to set up auto-invest on your <a href="https://risevest.com/">Rise</a>, so that you don’t need to manually do the investment each time and instead rest easy knowing that your investments are being handled on schedule every time. 



As always, our goal at Rise is to help you make the best of your finances and achieve your long term financial goals, regardless of volatility or short term circumstances. We remain committed to our mission of helping you build wealth over time, and we encourage you to stick to your plans and let time do the heavy lifting.&nbsp;



Thank you for choosing Rise, and if you have further questions or concerns, kindly contact us via the contact session on your app, or send us an email at <a href="mailto:hello@risevest.com">hello@risevest.com</a>.



Love and returns,&nbsp;



The Rise Team

Why You Should Not Let Exchange Rate Fluctuations Interrupt your Investment Strategy

We know you’ve heard of the saying, “buy low, sell high.” And so far this year, the stock market is having a great run. In recent weeks alone, the S&amp;P 500, Dow Jones, and Nasdaq have all touched all-time highs for the first time in two years. So now that stocks are decidedly not low, does it mean it’s not a good time to buy? Should you wait until stocks fall to maximise your returns?&nbsp;



Here at MoneyRise, we thought we’d unpack some data behind all-time highs to help you make sense of this moment.



<h2 class="wp-block-heading" id="h-to-start-we-ll-analyse-why-all-time-highs-make-some-investors-nervous">To start, we’ll analyse why all-time highs make some investors nervous.</h2>



It is a common principle that to make money in the <a href="https://money.rise.capital/blog/stock-market-investment-or-bank/">stock markets</a>, you have to sell a stock for more than you paid for it. And if prices start out high, it might be harder to do. For this 



reason, investors try to avoid <a href="https://money.rise.capital/blog/the-principle-of-buying-stocks-when-others-are-selling/">buying overvalued stocks</a>, which basically means paying too much for what you get (a company’s earnings). And sometimes, entire stock indexes get overvalued, leading to a painful correction or fall, when investors across the board realise that companies aren’t making <a href="https://money.rise.capital/blog/its-not-enough-to-just-invest-in-stocks-heres-why/">enough money to justify their high stock prices</a>.



<h2 class="wp-block-heading" id="h-does-that-mean-i-shouldn-t-invest-in-stocks-now">Does that mean I shouldn&#8217;t invest in stocks now? </h2>



 While it sounds like a good assumption, the data doesn’t agree. North American stocks have marched steadily upward over the past century, and some bull markets have run for decades, partly because rising stocks and a booming economy can self-reinforce each other. So, if you’re waiting for a crash before you get in, you could wait for a long time and miss out on big returns. For instance, if you thought <a href="https://money.rise.capital/blog/risevest/">stocks were overheated in 1980 and delayed investing</a> until the next bear market (a 20% downturn), you would have waited seven years and missed out on something like 117% in returns. And even that downturn was a four-month blip in a historic 20-year bull market during which the S&amp;P 500 rose north of 1,000%.



<h2 class="wp-block-heading" id="h-so-all-time-highs-don-t-mean-a-correction-is-imminent">So, all-time highs don’t mean a correction is imminent?</h2>



History suggests no, at least not usually. Looking back to 1957, when the S&amp;P 500 was created, the index has notched a new all-time high about every 14 trading days, or 7% of the time. Moreover, the S&amp;P has been within 5% of its latest high about 60% of the time and has been in a bear market only 12% of the time.



<h2 class="wp-block-heading" id="h-but-what-if-there-is-a-correction-does-that-mean-my-stock-portfolio-will-be-ruined-forever-nbsp">But what if there is a correction? Does that mean my stock portfolio will be ruined forever?&nbsp;</h2>



Not if you’re diversified and investing long-term. The New York Times recently pointed out that if you invested in an S&amp;P index fund on October 9, 2007, right before the stock market fell by more than 50% during the global financial crisis, you still would have gained 9.3% annually in the years since then for a cumulative return of 325%, provided you reinvested your dividends. While recognising the unpredictability of the financial markets, it is essential to acknowledge the possibility of downturns, recessions, or even a depression.&nbsp;



Our advice to investors has always been: expect rough patches in the market, don’t be surprised by them, and stick to your plan. But we also know it’s hard not to panic when the market moves erratically.



However, a crucial aspect to consider is the historical trend that, over time, the stock market tends to grow in line with the economy’s growth and wages. While this is not a guarantee for the future, historical patterns suggest that, on a longer-term horizon, the market has displayed a propensity to recover and thrive. So as long as you have a diversified portfolio—you own stock across different sectors and different geography— and believe in the long-term prosperity of the economy, then you stand to do quite well.



<h2 class="wp-block-heading" id="h-what-are-we-saying-essentially">What are we saying essentially?</h2>



There’s risk everywhere all the time. No one knows when the next downturn, recession or depression might occur. However, history has shown that, for most investors, time in the market is more important than timing the market. As such, investment accounts are for longer-term investments, and the key to navigating the uncertainties of the stock market includes maintaining a level-headed, long-term perspective.



At <a href="https://risevest.com/">Risevest</a>, we encourage investors to be committed to investing for a minimum of three years because the markets have a good probability of performing well over that period. As Warren Buffett says: “Why scrap an informed decision because of an uninformed guess?” Don’t panic because you think you’ll know what will happen next week — stay in because you know what will happen in the long term. <a href="https://click.risevest.com/gb0g/9lwzpxjd">Create</a> and fund your Rise stock plan today.

The Stock Market Is at an All-Time High; Should I Double Down or Sell Everything?

Investing is a key aspect of financial planning, and individuals often grapple with deciding where to allocate their funds. The stock market is a popular choice for potential high returns, but the risks associated can be intimidating. In contrast, leaving money in a bank account seems safer. This article explores the factors to consider when deciding between the stock market and saving in the bank, addressing concerns about the perceived high risk associated with the stock market.



<h2 class="wp-block-heading" id="h-understanding-the-fear">Understanding The Fear</h2>



The stock market is often viewed as high-risk due to its inherent volatility. Prices of stocks can fluctuate rapidly based on various factors, including economic conditions, geopolitical events, and company performance. These fluctuations can lead to both substantial gains and significant losses. For example, in 2009, the U.S. stock market, as measured by major indices such as the S&amp;P 500 and Dow Jones Industrial Average, experienced a sharp decline. The S&amp;P 500 lost about 57% of its value from its peak in October 2007 to its trough in March 2009, representing one of the most substantial <a href="https://money.rise.capital/blog/stock-market-downturns-might-be-good-for-you-heres-why/">market downturns</a> in recent history. We also live in a time when financial news is readily accessible, accompanied by ads and finance analysts who amplify concerns about an impending market collapse. Investors can easily hear claims of a significant downturn, which can trigger anxiety and apprehension among them. It is important to recognise that fearmongers have existed throughout history, especially during market highs and lows. However, their track record in accurately predicting downturns is notably poor, as evidenced by past economic crises like the 2008 recession, the bursting of the 2000 tech bubble, and the Great Depression.



<h2 class="wp-block-heading" id="h-but-is-putting-money-in-the-bank-worth-it">But Is Putting Money in the Bank Worth it? </h2>



While the stock market carries a level of risk, it is essential to understand that risk is an inherent part of any investment. Leaving money in a bank, typically in the form of savings accounts or certificates of deposit (CDs), may seem like a safer option, but it comes with its own risks. Interest rates are incredibly low, and you&#8217;ll probably make less than 4% per annum in a savings account. Additionally, you’ll have to contend with inflation and devaluation, which could affect your buying power as your money sits idly in the bank.



<h2 class="wp-block-heading" id="h-so-what-are-we-saying">So What are We Saying?</h2>



While recognising the unpredictability of the financial markets, it is essential to acknowledge the possibility of downturns, recessions, or even a depression. Our advice to investors has always been: expect rough patches in the market, don’t be surprised by them, and stick to your plan. But we also know it’s hard not to panic when the market moves erratically.



However, a crucial aspect to consider is the historical trend that, over time, the stock market tends to grow in line with the economy&#8217;s growth and wages. While this is not a guarantee for the future, historical patterns suggest that, on a longer-term horizon, the market has displayed a propensity to recover and thrive.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://money.rise.capital/wp-content/uploads/2024/01/image-1-1024x576.png" alt="Stock Market Investment" class="wp-image-2586" srcset="https://money.rise.capital/wp-content/uploads/2024/01/image-1-1024x576.png 1024w, https://money.rise.capital/wp-content/uploads/2024/01/image-1-300x169.png 300w, https://money.rise.capital/wp-content/uploads/2024/01/image-1-768x432.png 768w, https://money.rise.capital/wp-content/uploads/2024/01/image-1-1536x864.png 1536w, https://money.rise.capital/wp-content/uploads/2024/01/image-1-1568x882.png 1568w, https://money.rise.capital/wp-content/uploads/2024/01/image-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Downturns are healthy for long-term investors. When the market experiences a pullback, it provides opportunities for long-term investors to <a href="https://money.rise.capital/blog/when-the-stock-market-nosedives-i-buy-more-shares-my-name-is-tobe-and-this-is-how-i-make-my-moneyrise/">buy shares</a> in robust companies at a less expensive price. And over the long term, it corrects itself to reflect changes in the economy and fortunes of certain companies or sectors.&nbsp;



<h2 class="wp-block-heading" id="h-maintaining-a-long-term-perspective">Maintaining a Long-Term Perspective</h2>



Investment accounts are for longer-term investments, and the key to navigating the uncertainties of the stock market includes maintaining a level-headed, long-term perspective.



At <a href="https://risevest.com/">Risevest</a>, we encourage investors to be committed to investing for a minimum of three years because the markets have a good probability of performing well over that period. As Warren Buffett says: “Why scrap an informed decision because of an uninformed guess?” Don&#8217;t panic because you think you&#8217;ll know what will happen next week — stay in because you know what will happen in the long term.



Why? Because markets, in the long term, have proved to be quite predictable. Check out this depiction of the last hundred years of the Dow Jones Industrial Average.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://money.rise.capital/wp-content/uploads/2024/01/image-3-1024x576.png" alt="Stock Market Investment" class="wp-image-2592" srcset="https://money.rise.capital/wp-content/uploads/2024/01/image-3-1024x576.png 1024w, https://money.rise.capital/wp-content/uploads/2024/01/image-3-300x169.png 300w, https://money.rise.capital/wp-content/uploads/2024/01/image-3-768x432.png 768w, https://money.rise.capital/wp-content/uploads/2024/01/image-3-1536x864.png 1536w, https://money.rise.capital/wp-content/uploads/2024/01/image-3-1568x882.png 1568w, https://money.rise.capital/wp-content/uploads/2024/01/image-3.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



In conclusion, the decision to leave money in the bank or invest in the stock market is a nuanced one that requires careful consideration. While fears of market volatility and predictions of significant downturns abound, historical evidence suggests that the market has shown resilience over time. By maintaining a balanced perspective, acknowledging the possibility of downturns, and focusing on long-term goals, investors can make informed decisions that align with their financial objectives.

Which Option Is Right for You: Stock Market or Bank?

Hello Riser, 



How are you today? We’re halfway into January, and if you’re wondering whether it’s too late to set your new year goals, here’s what Nduka, a retired goal-quitter, has to say. While you laugh at his jokes, ensure you pick up his message. And don’t forget to enjoy the rest of your week.



<h2 class="wp-block-heading">Troubles At The Red Sea</h2>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="576" height="324" src="https://money.rise.capital/wp-content/uploads/2024/01/red-sea-countries-map-1-576x324-1.jpg" alt="Map of the Red Sea" class="wp-image-2454" srcset="https://money.rise.capital/wp-content/uploads/2024/01/red-sea-countries-map-1-576x324-1.jpg 576w, https://money.rise.capital/wp-content/uploads/2024/01/red-sea-countries-map-1-576x324-1-300x169.jpg 300w" sizes="(max-width: 576px) 100vw, 576px" /></figure>



Around the world, a storm is building after decades of calm. Since mid-November 2023, the Houthis, a Yemeni rebel group backed by Iran, have launched dozens of attacks on ships sailing through the Red Sea and the Suez Canal, making it riskier and costlier to use the crucial shipping lane and sending nearly all container traffic south, around Africa’s Cape of Good Hope.



<h2 class="wp-block-heading">Who are the Houthis?</h2>



 The Houthis, led by Abdul-Malik al-Houthi, are an Iran-backed group of Shiite rebels who have been fighting Yemen’s government for about two decades and now control the country’s northwest and its capital, Sana.



They have built their ideology around opposition to Israel and the United States, seeing themselves as part of the Iranian-led “axis of resistance,” along with Hamas in the Gaza Strip and Hezbollah in Lebanon. Their leaders often draw parallels between the American-made bombs used to pummel their forces in Yemen and the arms sent to Israel and used in Gaza.



In 2014, a military coalition led by Saudi Arabia intervened to restore the country’s original government after the Houthis seized the capital, starting a civil war that has killed hundreds of thousands. Last April, talks between the Houthis and Saudi Arabia raised hopes for a peace deal that would potentially recognise the Houthis’ right to govern northern Yemen.



<h2 class="wp-block-heading">Why are they attacking ships in the Red Sea? </h2>



When the Israeli-Hamas war started on Oct. 7, 2023, the Houthis declared their support for Hamas and said they would target any ship travelling to Israel or leaving it.



Yahya Sarea, a Houthi spokesman, has said that the group frequently attacks ships to protest the “killing, destruction, and siege” in Gaza and to stand in solidarity with the Palestinian people.



The Gazan authorities say that more than 23,000 people, most of them civilians, have been killed in the Israeli bombing campaign and ground offensive that started after Hamas carried out cross-border raids, which the Israeli authorities say massacred about 1,200 people.



Since November, the Houthis have launched 27 attacks with drones and missiles on vessels in the Red Sea and the Gulf of Aden, which they claim are heading toward or leaving Israeli ports. The latest was on Thursday at 2 a.m. when a missile landed near a commercial vessel, the U.S. military said. Perhaps, the most audacious Houthi operation came on Nov. 19, 2023, when gunmen hijacked a vessel named the Galaxy Leader and took it to a Yemeni port, holding its 25 crew members, mainly Filipinos, captive.



<h2 class="wp-block-heading">What is the United States doing about it? </h2>



The United States and a handful of allies, including Britain, struck back, carrying out missile strikes on Houthi targets inside Yemen early Friday and thrusting the rebels and their long-running armed struggle further into the limelight.



The attack on Houthi bases came a day after the United Nations Security Council voted to condemn “in the strongest terms” at least two dozen attacks carried out by the Houthis on merchant and commercial vessels, which it said had impeded global commerce and undermined navigational freedom.



The task force, called Operation Prosperity Guardian, brought together the United States, Britain and other allies and has been patrolling the Red Sea to, in Mr. Blinken’s words, “preserve freedom of navigation” and “freedom of shipping.” But the problem is that no matter how much the US and its allies reinforce their boundaries, the Houthis aren’t guaranteed to respect them.



<h2 class="wp-block-heading">What does this mean? </h2>



Speaking to reporters in Bahrain on Wednesday, the American secretary of state, Antony J. Blinken, warned that continued Houthi attacks in the Red Sea could disrupt supply chains and, in turn, increase costs for everyday goods. About 10% of global trade transits through Suez, 12% of global oil, and about 8% of LPG gas, but 30% of container shipping goes through the red sea.



The world’s biggest container companies, MSC and Maersk, have said they are avoiding the region, and shipping companies are left with difficult options such as detours to Africa. The detour adds about 30% more miles to the journey from Shanghai to the Dutch city of Rotterdam, and the additional days and fuel required increase the cost of shipping things– not just on Asia-to-Europe circuits but also on Asia-to-US ones. The diversion around the Cape of Good Hope at the bottom of Africa adds about 3,500 nautical miles, over $1 million in additional cost and a delay of up to two weeks. This is inflationary as the contents of every precious shipping container would be more expensive, increasing costs and the possibility of scarce goods and products.



<h2 class="wp-block-heading">What does this mean for my investment?</h2>



 In light of these uncertainties and economic challenges, it&#8217;s essential for you to explore reliable <a href="https://money.rise.capital/blog/investing-during-a-tight-economic-cycle/">investment and wealth management options to navigate these economic</a> uncertainties. On Risevest, you can access diversified <a href="https://money.rise.capital/blog/i-look-for-investment-opportunities-that-can-beat-the-prevailing-inflation-rate-of-the-naira-my-name-is-busola-and-this-is-how-i-make-my-moneyrise/">investment opportunities</a>, helping to mitigate risks associated with geopolitical events and economic uncertainties.



<h2 class="wp-block-heading">The SEC Finally Approves Bitcoin ETFs</h2>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="480" height="262" src="https://money.rise.capital/wp-content/uploads/2024/01/image.png" alt="Spot Bitcoin ETFs" class="wp-image-2455" srcset="https://money.rise.capital/wp-content/uploads/2024/01/image.png 480w, https://money.rise.capital/wp-content/uploads/2024/01/image-300x164.png 300w" sizes="(max-width: 480px) 100vw, 480px" /></figure>



The Securities and Exchange Commission (SEC) officially approved <a href="https://risevest.com/blog/spot-bitcoin-etfs-a-new-era-in-crypto-investment">spot bitcoin ETFs</a> last week. The 11 exchange-traded funds will let Boomers access Bitcoin without needing a crypto wallet. Basically, our parents may soon become Crypto Bros.



<h2 class="wp-block-heading">Now that it’s real, what does it mean?</h2>



Spot bitcoin ETFs will make investing in crypto more accessible by providing investors with exposure to bitcoin without having to buy it themselves. This also integrates Bitcoin into the traditional financial system. Big players like Fidelity, Ark Investments, and BlackRock were among the first applicants approved by the SEC. Bitcoin is essentially putting on a tie and agreeing to work at its dad’s insurance firm for the summer until the saying “buying a hamburger with crypto” becomes a thing.



<h2 class="wp-block-heading">Why now? </h2>



The long-awaited win for the crypto industry came after a false start on Tuesday when someone hacked the agency’s X account and spuriously said the ETFs had been approved. Crypto investors have been asking for spot bitcoin ETFs since roughly 2013, but the SEC has historically grimaced at the idea of inviting such a volatile asset into the financial system, concerned that a bitcoin ETF could be easily manipulated.



However, Grayscale Bitcoin Trust, which already helps investors buy bitcoin, tried to create an ETF for years and eventually took the SEC to court to force the agency’s hand in approving the fund. In August, a judge ruled in favour of Grayscale. This prompted it and several big-name investment firms to rush to file with the SEC to create spot bitcoin ETFs, and the agency was up against a deadline to decide.



<h2 class="wp-block-heading">What are the risks involved? </h2>



While spot Bitcoin ETFs offer a more straightforward way for traditional investors to access the cryptocurrency market, it’s important to note that the volatile nature of cryptocurrencies poses inherent risks. Bitcoin prices can be subject to sudden and significant fluctuations, and investors should be aware of the potential for both substantial gains and losses. So while you embrace the opportunities presented by this, don’t forget to diversify your portfolio with Rise.



<h2 class="wp-block-heading">What’s Up At Rise? </h2>



Portfolio Report Our Rise portfolio has maintained its winning streak for the second consecutive week by outperforming the S&amp;P 500. We closed the week with a positive return of 1.34%, surpassing the S&amp;P 500, which closed positively at 0.20%. Notably, a significant contributor to our success is Microsoft, a company within our portfolio that achieved the prestigious title of the most valuable company in the world. We are starting the year strong and hope to maintain the momentum throughout



Major banks released their earnings this week, with most of them reporting better-than-expected earnings and profits. A better-than-expected earnings report signifies a healthy banking sector, attracting new customers and contributing to overall economic stability.



As usual, our commitment to delivering value to you remains unwavering.

MoneyRise Episode 44: Troubles at the Red Sea

For many, the beginning of a new year is a time of reflection and renewal and New Year&#8217;s resolutions are a time-honoured tradition, a chance for people to reflect on the past year and set goals for the year ahead. As the New Year approaches, many people start to think about what they want to achieve in the coming year. Some people make New Year&#8217;s resolutions, while others prefer not to set specific goals. However, research has shown that setting and working towards specific goals can be beneficial in many ways. Here are a few reasons why you might want to consider making a <a href="https://money.rise.capital/blog/how-you-can-keep-your-financial-new-years-resolutions/">New Year&#8217;s resolution</a> for 2024:



<ol>
<li>A New Year&#8217;s resolution can help you focus on what&#8217;s important.</li>
</ol>



When you set a specific goal, you are more likely to focus on what is truly important. This can help you prioritise your time and energy, ensuring that you are working towards something that matters to you,&nbsp;



<ol start="2">
<li>A New Year&#8217;s resolution can help you develop new habits.</li>
</ol>



The new year represents a clean slate and a chance to start anew. It&#8217;s a good time to reflect on the past year and identify areas of your life that you want to improve or change. Many New Year&#8217;s resolutions revolve around developing new habits, whether it&#8217;s exercising more, eating healthier, or spending more time with family and friends. By focusing on building new habits, you can make lasting changes to your daily routine and improve your overall health and well-being.



<ol start="3">
<li>A New Year&#8217;s resolution can increase your motivation and self-esteem.</li>
</ol>



Working towards a specific goal can be very motivating. You may feel a sense of accomplishment and pride as you progress toward your resolution. This can lead to increased self-esteem and confidence, positively impacting other areas of your life.



<ol start="4">
<li>It can help you grow and learn.</li>
</ol>



Setting a New Year&#8217;s resolution can also be an opportunity for personal growth and learning. Whether learning a new skill or working towards a major life change, setting a specific goal can help you push yourself out of your comfort zone and try new things.



<ol start="5">
<li>It can also bring a sense of purpose and meaning.</li>
</ol>



Setting a New Year&#8217;s resolution can provide many people a sense of purpose and meaning. Focusing on something important to you can find greater fulfilment and satisfaction in your life.



<h2 class="wp-block-heading">How do you go about setting a New Year&#8217;s resolution? Here are a few tips to help you get started:</h2>



<ol>
<li>Be specific.</li>
</ol>



When setting a New Year&#8217;s resolution, it&#8217;s important to be as specific as possible. Instead of resolving to &#8220;lose weight,&#8221; try setting a specific goal like &#8220;lose 10 pounds by March 1st.&#8221; This will give you a clear target to work towards and make it easier to track your progress.



<ol start="2">
<li>Make your resolution realistic.</li>
</ol>



It&#8217;s important to set a goal that is realistic and achievable. While it&#8217;s okay to aim high, setting an unrealistic goal can set you up for disappointment and make it harder to stay motivated.



<ol start="3">
<li>Plan ahead.</li>
</ol>



To increase your chances of success, it&#8217;s important to plan. This might involve setting intermediate goals, finding a support system, or finding resources to help you achieve your resolution.



<ol start="4">
<li>Be flexible.</li>
</ol>



It&#8217;s important to remember that your New Year&#8217;s resolution is a work in progress. If you encounter roadblocks or setbacks, feel free to adjust your plan or your goal. The most important thing is staying committed and working towards your resolution.



Now that we&#8217;ve explored the benefits of setting a resolution, how can Rise help you achieve it? Rise is a dollar investment platform that aims to help individuals achieve their financial goals through various investment options. Whether you are looking to save for retirement, build wealth, or simply grow your finances, Rise can provide the tools and resources you need to succeed.&nbsp;



One of the main advantages of using <a href="https://risevest.com/">Rise</a> is the ability to diversify your investment portfolio. Investing in a range of assets can minimise risk and potentially maximise your returns. This is especially important in today&#8217;s market, where uncertainty and volatility are common. By diversifying your portfolio, you can reduce the risk impact on your overall returns, which can help to smooth out the ups and downs of the market and provide a more stable path to achieving your financial goals.



In addition to diversification, Rise also offers the opportunity to invest in a range of asset classes, including <a href="https://risevest.com/stocks">stocks</a>, <a href="https://risevest.com/fixed-income">fixed income</a>, and <a href="https://risevest.com/real-estate">real estate</a>. This allows you to customise your portfolio to align with your specific financial goals and risk tolerance. For example, if you are saving for retirement, you may want to allocate a larger portion of your portfolio to more stable, income-generating assets such as fixed income. On the other hand, if you are looking to build wealth over the long term, you may want to allocate a larger portion of your portfolio to growth-oriented assets such as stocks.



In addition to offering a range of investment options, Rise also provides tools and resources to help you make informed investment decisions. This includes access to financial advisors, educational materials, and market research, which can help you better understand the investment landscape and make informed decisions about where to allocate your funds.



Another benefit of using Rise is the flexibility it offers. You can choose to invest a one-time lump sum, or set up automatic investments regularly. This allows you to invest at a pace that is comfortable for you and fits your financial situation. Additionally, you can easily monitor and manage your investments through the Rise platform, which provides real-time updates and insights into your portfolio performance.



Finally, Rise provides a secure and user-friendly platform that is easy to navigate and use. The platform is designed with the user experience in mind, with a clean, intuitive interface that makes it simple to manage your investments and track your progress. This can be especially important for those new to investing or who may need to be more comfortable with more complex financial tools.



So make Rise part of your new year&#8217;s resolution, as it can help you achieve your financial goals this year. With a wide range of investment options, educational resources, and a user-friendly platform, Rise provides the tools and support you need to grow your wealth and reach your financial objectives, whether as a beginner or an experienced investor.



Overall, setting a new year resolution can bring numerous benefits and help you achieve your goals. Whether it&#8217;s improving your health, strengthening relationships, or achieving financial success, a resolution can provide the motivation and discipline needed to make positive changes in your life. With the help of a platform like Rise, you can invest your money and work towards your resolution, all while learning about financial planning and making informed decisions about your money. So make a resolution this year and start taking steps towards a better, more fulfilling life.

How Rise Can Help You Achieve Your New Year Resolutions.

Once again, the festive season is upon us and 2023 is about to breathe its last. It’s been a long year for many of us, and Christmas, as usual, is the time for unwinding. It is a time when people splurge on things as a reward for making it through the year. There’s music in the air, enough food to go round, decorations are put up, sales and gift exchanges are happening, and everyone is jolly.&nbsp;



But while it is great to unwind, it is important to remember that January has 59 days and you have financial goals to meet. You don’t want to start the new year broke or in debt. So this week,&nbsp; we’re sharing tips on how to enjoy your December on a good budget and prepare your finances for 2024.&nbsp;



<h2 class="wp-block-heading">Make a budget and stick to it</h2>



It is important to create a December budget and stick to it. When creating the budget, include everything you would spend money on this December, such as donations, gifts, Christmas decorations, transportation, clothes, drinks, and groceries. The goal of having a December budget is to help you plan your expenses to avoid spending above what you can afford.&nbsp;



<h2 class="wp-block-heading">Find cheap but great restaurants.</h2>



This is not the time for you to spend ridiculous amounts of money on restaurants or foods. There are cheap restaurants and lounges that offer great food and aesthetics. All you need to do is research, visit food bloggers&#8217; pages on Instagram or TikTok and find restaurants that serve tasty meals at affordable prices.&nbsp;



<h2 class="wp-block-heading">Organise get-togethers with your friends.</h2>



Have little get-togethers in the comfort of your home. This is the best way to catch up with friends and family members you haven’t seen in a while. The best part is that you get to have actual conversations and spend more time with them without the wandering eyes of people or raising your voice and straining your ears over loud music. Here’s where it’s financially responsible: you don’t have to pay for much. Everyone brings a snack, drink and game, and there you have it: fun from the comfort of your home.



<h2 class="wp-block-heading">You can’t attend all the concerts in your city.</h2>



If you make a list of everything happening in December, chances are that the majority of them appeal to you. But that’s not true; a lot of the time, it’s our fear of missing out that pushes us to go to events. It’s more financially responsible to choose a select few concerts and events and stick to them. This will also save you from burning out after.&nbsp;



<h2 class="wp-block-heading">Invest in thoughtful gifts.</h2>



Homemade presents are great ways to<a href="https://money.rise.capital/blog/the-best-money-saving-tips-for-nigerians/"> save money</a> while creating something memorable. These gifts might not work for everyone on your list, but they’re good options for some. The gifts could be anything from a photo book to a bottle of wine they like. Or cook them a meal, help them around the house or take them somewhere nice for a change. You don’t need to outdo yourself or anyone else to show appreciation. As they say, it is the thought that counts.



<h2 class="wp-block-heading">Secret Santa helps you to save costs</h2>



If you work in a large organisation or have a large family, buying gifts for everyone can make you spend above your budget. A fun, easy way to get around this is to plan a Secret Santa gift exchange. Everyone draws a name without telling who it is and buys just for that person. Usually, a moderate spending limit is imposed, and the element of surprise at a gift exchange time adds to the fun.&nbsp;



<h2 class="wp-block-heading"> Prioritise needs over wants</h2>



We all love a bit of indulgence during the holidays, but distinguishing between needs and wants is key. Prioritise essential needs over extravagant wants. Remember, the season&#8217;s value lies in creating memorable experiences, not in draining your wallet on expensive things.



<h2 class="wp-block-heading">Take Advantage of Discounts and Sales</h2>



Shopping during the holiday season <a href="https://money.rise.capital/blog/say-i-do-without-breaking-the-bank/">doesn&#8217;t have to break the bank</a>. Keep an eye out for discounts, promotions, and sales. Plan your shopping around these events to maximise your savings. Online shopping can be your best friend, with various platforms offering exclusive discounts during this time. 



<h2 class="wp-block-heading">Limit Unnecessary Travel Expenses</h2>



If your plans involve travel, consider cost-effective transportation options. Better yet, celebrate closer to home to cut down on unnecessary travel expenses.



<h2 class="wp-block-heading">Avoid loans; don’t start January with a negative Balance.</h2>



There is the possibility of the Amapiano getting into your head during the festive season, pushing you to go above your budget. It could also twist your mind into borrowing a few thousands. While Dorime might be sweet, it is important for you to think about how you will meet your financial obligations when they are due, especially January, with 59 days.&nbsp;



<h2 class="wp-block-heading">Gift yourself a Rise plan</h2>



There are many ways you can flex Detty December without ruining your bank account. And now that we’ve helped you save some money this December, here’s how to make most of it— gift yourself a <a href="https://risevest.com/">Rise plan</a>. Our plans are made up of high-quality US assets like stocks, real estate and fixed income. As a dollar-denominated company, your returns are paid in dollars, hedging your investments against inflation and devaluation and helping you build wealth. With our auto-invest feature, it is easier to stay consistent to your investing goals even when you forget.



Remember, after detty December comes dry January, so ensure you have a clean and happy celebration.

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