If there’s anything that you would pick out of our conversation with Mr Idowu, it would be to “cut your cloth according to your size”.
By way of introduction, Mr Idowu is a self-taught vulcanizer who is big on ensuring that he lives within his means. He was motivated by the fact that no one from his family learnt any trade and decided to take up the challenge.
Furthermore, his financial priorities currently are his children and his ongoing construction project which his job as a vulcanizer has helped him fund.
It only took a few minutes in this episode to realize that Mr Idowu is passionate about giving his children the best he can afford, and that influenced his answer to the one-million naira question.
As one who works on cars daily, you would expect that Mr Idowu is a fan of flashy cars and would at least have a dream car, but that may not have been the case in this episode.
In addition, his response to, “What’s your dream car?” still found us circling back to his central theory of cutting your cloth according to your size.
During this introspective conversation, he answered the two golden questions:
- What does money mean to you?
- If you received 1 million naira right now, what would you do with it?
We also asked him a few other questions to get to know his daily routine and what his life is like.
He has built his business to a point where he can afford to not work on Sundays so he can have family time. That looked like growth to me.
Streetwise episode 3 is one you should watch – especially if you’re a fan of raw unfiltered human stories. Tap on the video below and get to watching!
Streetwise Episode 3
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 3 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.