Investing in Nigeria is an intimidating endeavour for a lot of people. This is particularly so for young people who are just joining the labour force with modest income levels. For a lot of underemployed folks as well, saving is hard enough let alone investing.
However, it doesn’t have to be so. In this piece, we will try to break down simple ways to get started in your investment journey.
1. Have A Goal
Having a goal is the first step in getting started in your Nigerian investment journey. Your goal will define a clear picture of what you desire to get out of investing. Goals make the investment journey purposeful. Would you like N50million by age 40? Would you like to have a piece of land at Ibeju Lekki by 35? Or you simply would like to have a strategic capital or cash of N10 million in your account by age 30?
2. Do Your Research
Once you have a goal in mind, the next step is to do some research. The research includes learning about the investment options available in the Nigerian market. Some popular investment vehicles include Treasury Bills, Mutual Funds, Fixed Deposits, and Equities (stocks) among others. These investments have varying risk-return profiles. You could send us an email (hello@cowrywise.com) if you need help before deciding which one is good for you, based on your income level and expected performance over the years.
3. Start Saving
As soon as you figure out which of these investment products align well with your goal, start saving aggressively. Saving aggressively doesn’t necessarily mean you should save all your salary. It means to be consistent with whatever amount you feel capable of saving, usually like 10% –20% of your monthly income. Once you have saved up a certain amount, you can then move this amount into any investment vehicle you have identified in Step 2 above.
A Smarter Approach
I know you are thinking that might take a long time; saving for a while and then start investing later. This is one of the reasons we built Cowrywise. Cowrywise allows you to save and invest at the same time. Whoop! Whoop!
Cowrywise is an automated saving and investment platform in Nigeria, that allows you to automate your savings daily, weekly or monthly. Your savings are then automatically moved into risk-free investment instruments that provide you access to earn predictable returns. This predictability helps you to properly gauge your progress towards achieving your goal.
The Cowrywise App combines the 3 steps outlined above. You get to not only save money conveniently but also save time as your savings are immediately invested. The App opens up investment opportunities to millions of savers. This is our idea of #BeyondSavings.
Download the Cowrywise App from Google Play Store or the Apple App Store and start ‘savesting’, or visit the Cowrywise website.
How has your experience with Cowrywise been so far? Share your story with us here. We want to celebrate you!
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The whole thing is becoming stringent and just our failed banks are. Pls why not create a one time and easy security measures.
I have signedup but can get the otp code sent to my phone for authentication
A while back, a burglar cleared out our laptops, phones and bags while we were asleep. I lost access to my Google account forever because the phone with the authenticator app was gone and the laptop with access was gone as well. I lost all my contacts and have not found some of them back to this day. This is why the idea of an authenticator app scares me.
oh wow.
So sorry to hear that, Folajomi.
However, this is simply to ensure that your account on Cowrywise is backed with top-notch security.
We like to say that it’s like a ‘bodyguard’ so you have nothing to worry about here.
I’m trying to transfer funds from my Cowrywise to my bank account but it feels and I get message that says temporary flag has been placed on my account. What should I do to fix it, please?
I don’t understand, I can’t access my account anymore and they are busy telling me that my account has been flagged…
Unflag my account lemme take my money please nah?
I want to withdraw from my stash and I was asked to put in my 6-Digits code but when I put in the code from the Authenticator app it keeps saying Token error
Pls unflag my account
Pls help me unfreeze my account.my account was freezed for no reason
Pls help me unfreeze my account.my account was freezed for no reason
I cannot access my stash money and I just started it’s getting frustrating
Please I can not remember my security questions, how do I go about it
Please I cant remember the answers to my security questions, kindly assist.
Ive not added my BVN but I’ve logged out of my account
When I try logging in again it says account not verified
Please how do I go about it
Kindly help out urgently
Kindly Unflag my account
Anytime I put the authentication code, it says invalid
I can’t remember my secret questions pls I need help.
Please I cant remember the answers to my security questions, kindly assist.
I can’t remember my 2factor answers Nd I need access to my fund ….the money is on stash already pls provide way forward for me… nd I need ur office address too
gorettim36@gmail.com
Forgot pin help
Hello,
I cannot remember signing up for 2factor authenticator; I already answered the security questions. Please help, because I can’t remember the authenticator app or even the code. And I need my martured money urgently.