Seeking out options for smart use of monetary wedding gifts requires a lot of thinking, but is that what you really want to spend your honeymoon on, drawing up plans on how to invest the wedding cash? Most likely not, but then a choice not to do that definitely has its own costs. To help, we have a gift of five smart but simple suggestions on how you can invest your wedding cash.
Making your wedding cash gifts make sense
To make sense out of money, it should either be well spent or invested to earn you great interests. Focusing on the latter, let’s share some investment options you should consider.
1. Are there hanging debts? Pay those debts off.
As humans, we are bound to make some imperfect decisions, and sometimes one of them can be bad debts. No matter the nature of the debts, good or bad, you should speak about them and commit to paying them or at least a part of them. For your peace of mind, you can commit a large chunk of cash wedding gifts to this purpose — up to 50%.
2. Prepare for long-lasting happiness.
Wouldn’t you love to relive the beauty of the honeymoon over again as your marriage progresses, particularly in retirement? Sounds like a good deal right? If that interests you, why not commit at least 10% of your cash wedding gifts to kickstart a joint retirement fund? This doesn’t stop you from owning your own individual retirement funds though. You can start a retirement life goal with Cowrywise in under 5 minutes.
3. Your kids deserve the best experiences so commit to providing them with that.
A sound education with tailored experiences is something every child deserves so why not kickstart an education fund for them before they even come? The fund can be broken down into three parts, one part for yearly payments of grade school fees, one targeted at secondary school fees and another at university fees. You can check out how much university fees might cost using this prediction tool of ours. Consider starting up an education fund with at least 15% of these cash wedding gifts, a Cowrywise life goal plan can help with this.
4. A home might be priceless but you need to get a house to create one.
Owning a house can either be achieved by buying land you plan to develop or an already built house you plan to renovate. However you choose to go about it, you’ll need to commit to it. No need to stress about this, as our advisors are open to advising you on how to build up for your first house (if you don’t have one already) for free!
5. Don’t you deserve some beautiful purchases?
By all means, you do. The only advice is for you to go about this smartly, seek out valuable purchases that do not exceed a 10% cap of your wedding cash gifts. How should define what is valuable or not? You should check out this simple guide.
Living your best moments can be a norm if you get your finances right from the very start. We wish you the very best in building a very beautiful life. And when the Jollof meetup for the first naming ceremony comes up, we are only a call away. 🙂
How can I collect my money back once is mature
You sell the units.
Hw can I get my money back…. When I have emergency cases….. cause am in need of it now??
How can I collect my money back once is mature.on mutual benefit
there is a sell option …or am I wrong?
Yes, there is
What a great teaching today Mr. Ope. Thank you sir. Please, i plead for more of these teachings
Well explained, well understood
Thanks for teaching Mr ope
Good and straight to the point.
Teaching is in-born in you; keep it up.
How can I turn my daily savings to investment for Mutual funds
Once they mature, you can transfer them to mutual funds.
I always love your teaching… Can’t wait for another ???
Very much thanks for this update. But please put me to light in a situation you are to contribute a fixed amount to run for let’s say three years and along the line one is not able to make it to the end due to unforseen circumstances after a period of say five months. What will happen to his contribution?
It will keep earning.
What about me that I invest with #1000,and I cash back with dat 1000,which kind of invest is that
This is insightful and i like the pizza explanation thingy. Is mutual fund risk free or there is any chance of default?
Thanks for your kind words. There varying risk levels for mutual funds. On Cowrywise, we have hem categorized from low-risk to high-risk. To find your best fit, we’ll take you through a short risk assessment.
Well understood…cheers?
That’s great to know.
clementogbewe@gmail.com
What is the parcentage interest rate of all the mutual funds?
Lol! May be free investment ,???
Ope ?
Thank you very much for the explanation. It breaks the whole concept down to perfectly understandable bits.
Now, my question is this – high risk mutual fund investments, where the YTD earning is something negative (as sometimes seen on the CowryWise platform), how do people actually make money from those?
I am always happy and expectant to get a mail from you, Ope, because I know I am about to learn something new.
Thank you for teaching with the whole illustration, I understood mutual funds better.
PLEASE I WOULD LIKE YOU TO EXPLAIN CALL UPTION AND HOLD UP TION
How do you know the maturation period
Hi Henry.
Only savings plans on Cowrywise have maturity dates.
You can purchase and sell your investments on Cowrywise at any time.
However, we always advise you to stick to a long-term investment strategy.
Thank you vary much ope for your explanations.
My question is can one deposit dollar In cowrywise stash??????????.??..
Nice of u cowrywises keep it up.
I believe cowrywise is gonna make this country different.
Why did they stop automatic debit oooooooo