In Streetwise episode 4, we had Usman, a cobbler and security officer who makes a living to take care of himself and his family of eight back home in the north.
He relies on the daily income from working as a cobbler to survive, while he sends his full security officer salary to his family back home.
During our conversation with Usman, he talked to us about how he had been working these two jobs for the past 7 years and how his financial priority at the moment is his family.
Is there another way to prioritize your family’s present and still save for their future? Absolutely. But with his earnings, we recognise that it’s easier said than done.
We asked him the second one of our golden questions:
“If you received 1 million naira right now, what would you do with it?”
His answer showed that he had goals for a lucrative business in Lagos other than what he currently does, and it was especially commendable that he answered the question without a second thought. He even answered it with a smile on his face and a gleam of hope.
Usman is not much of a talker, so this is the shortest episode yet, but Streetwise episode 4 is one you should watch if you love realistic human stories. Tap on the video below and get to watching! It’s only five minutes long.
Streetwise Episode 4
In case you’re curious, find out why we decided to do Streetwise here.
Have you watched this episode yet? What stood out most for you? Let me know in the comments.
Ohh, and what did your friends think when you shared it with them or when they saw Streetwise Episode 4 on your Whatsapp status? ?
Or you haven’t shared it yet? Let’s fix that now, shall we?
Good evening, can I get an explicit illustration of how much to invest, how much is the interest rate and for how many days or duration to earn such interest.
Thank you in anticipation of your response.
Ibrahim Muhammad T.
Hi Ibrahim,
You can invest any amount.
Mutual Funds work differently depending on the type you invest in, we have them categorized by risk level.
Please find out more here – http://cowrywise.com/mutual-funds
With conservative mutual funds, you earn based on annual interest. While with the other fund categories – moderate and aggressive – you earn based on capital gains.
There are no fixed interest rates as they change daily, depending on the performance of the market.
We advise you to invest for the long-term so that your investments can yield above-average returns over time.
I don’t recommend any one to invest in any mutual funds on Cowrywise because the interest rate is not even up to 1% it is extremely low. I invested 10000 naira and am getting 1naira everyday as ROI, So after 30days my total ROI would 30naira
is still better than keeping your money in the bank or how much do you think bank will give you?, this is not a quick rich scheme.
Hi Wilfred,
Thank you for your comment. However, this is inaccurate information.
Some funds were performing lower than usual due to market performance, however, not all funds were performing at 1%.
Some were much higher and please remember that we always advise thinking in the long-term.
Mutual Funds work differently depending on the type you invest in, we have them categorized by risk level.
If it’s a conservative fund, you earn based on interest. Interest rates for conservative funds are not fixed, it changes daily.
The other fund categories: moderate and aggressive earn based on capital gains which also changes daily.
This means that performance can be low today and high tomorrow.
If you’re investing for the long-term, more often than not, your investments will yield above-average returns despite the highs and lows of the market.
Good evening, please I need details of how I can invest and what is the interest rate. Also the duration of the investment.