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. 🙂
Good evening, my question to you please if open an account today in naira his the money will converted to us dollar to running the account
If you are investing in a dollar fund, yes.
Can the funds be traded rather than investing to increase gains?
What if your money is in cash(Dollar)
Please I already have an account, will I have to re-open another account before investing in dollar?
Can I invest in the next eurobond using dollar (cash)? If yes, will my returns be in dollar as well or it will be converted to naira??
Hi Helen, you can invest in Eurobonds at any time. However, we only accept naira deposits at the moment. Also, your returns accrue in dollars.
So which is best to earn the second way or first?
Focusing on returns will be better
Hi, what is the minimum amount you can invest with.
Hi there. You can invest the naira equivalent of $100
Hi Ope, does that mean I’d need two accnts to operate the fund, I.e a naira account to put in the naira funds which is d only 1 u currently accept, then a domicilary account where my returns would accrue in?
I want to invest in your Eurobond.
I have re-installed your new app an still can get the eurobond plan?
How much is the minimum equivalent dollar for a start?
Can i get an overview of all the benefits and rules of this plan?
***and still can’t get the eurobond plan?
Do you allow people from south Africa
Hello, my question is if I invest in the dollar mutual fund how do I get the returns?
Will it be in naira or in dollars and will I have to open another account for the returns to go into
Can’t you go down to 50USD
Hello Nsikak, currently the minimum is $100 but we we are looking at a possible review in the future.
The new minimum is $10
Hello will I have to re-open another account before investing in dollar?
luckysolomon444@gmail.com
I have invested in dollars mutual fund… It means I Will get my return in one year
Hi Jonathan,
How is the return/interest on your investment from November 27,2020 so far??
No you don’t have to, just click on invest in mutual funds, you will see the options there. You can navigate and alot with your account.
If I invest in the euro bond, it is expected that my return accrues in dollar, right? And how do I withdraw the dollar? Do I need to convert it to naira, if yes, how can I convert my dollar to naira on the app. Lastly, how long do I need to leave my investment on cowrywise? Or can I withdraw anytime?
Am interested. Let’s say I put in a $1,000. What the ROI…within 1 year.
Your interest is 6.6% then calculate it for one year, I think so
Hello,
As a Nigerian, can I save my money in dollars even though I don’t want to invest in a dollar mutual fund?
Pretty soon, yes!
If l invest in naira am l going to get it back in dollar
You’d be getting it at the prevalent naira exchange value of the dollar.
Am going to save in naira am going to get it back in dollar
You’d be getting it at the prevalent naira exchange value of the dollar.
Hello ope pls how much is $10 in naira
How long does the investment last.i.e when can I get my returns
I will give BIG CONGRATULATIONS to the entire Management of COWRYWISE for this wonderful opportunity to be a good investor with simple and sound education on various investment opportunities an investment can be done with little and grow within a short period period of time
God bless
Thank you so much ?
Now if I put 100$ in one year what is my return
If my return will be in the current dollar rate at the time, when i am investing and when am getting my returns, what exchange rate do u use? Black market rates or the bank rates – please verify in each case. Thanks.
Hello please if you can create the one we can start with the minimum $1 we’ll be happy ??
I just started investing in eurobond funds on cowrywise. So far so good, it has been a good platform to invest money and earn back. Kudos to the team behind this platform