{"id":1508,"date":"2019-08-24T23:52:55","date_gmt":"2019-08-24T22:52:55","guid":{"rendered":"https:\/\/cowrywise.com\/blog\/?p=1508"},"modified":"2022-12-02T11:46:21","modified_gmt":"2022-12-02T10:46:21","slug":"make-save-invest-money-nysc","status":"publish","type":"post","link":"https:\/\/cowrywise.com\/blog\/make-save-invest-money-nysc\/","title":{"rendered":"NYSC: How to Earn, Save and Invest Money During Service Year"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"save\">How to save during NYSC? <\/h2>\n\n\n\n<p>It actually does not start with saving. Keep reading.<\/p>\n\n\n\n<p><em>Jump to a section<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#first\">The first NYSC money steps<\/a><\/li>\n\n\n\n<li><a href=\"#earn\">How to earn money during NYSC<\/a><\/li>\n\n\n\n<li><a href=\"#savesting\">Saving and Investing as a corps member<\/a><\/li>\n\n\n\n<li><a href=\"#challenge\">National Savings Challenge for NYSC members<\/a><\/li>\n<\/ul>\n\n\n\n<p>There\u2019s a vast amount of advice on how to save money during your NYSC days. Sadly, a good number ignore a simple fact \u2014 what works for Jack wouldn\u2019t work for John. Some will live in cities that won\u2019t require them to touch their allowances. Others will live in cities where commuting alone will consume their entire allowances; really sad.<\/p>\n\n\n\n<p>However, this guide takes these discrepancies into consideration. It will let you build a strong money plan fit for your own realities. That said, to craft a strong money path you have to understand what\u2019s eating\/going to eat your money. Data subscriptions? No problem. What\u2019s important is that you get a clear picture.<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f5f7fc\">We asked a few corps members what was eating their money. Watch this video for some funny answers.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-instagram wp-block-embed-instagram\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-container\"><blockquote class=\"instagram-media\" data-instgrm-captioned data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/B0bRwjtFSFY\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"14\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\"><div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/p\/B0bRwjtFSFY\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;\" target=\"_blank\"> <div style=\" display: flex; flex-direction: row; align-items: center;\"> <div style=\"background-color: #F4F4F4; 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font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\">View this post on Instagram<\/div><\/div><div style=\"padding: 12.5% 0;\"><\/div> <div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\"><div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div> <div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div><\/div><div style=\"margin-left: 8px;\"> <div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div> <div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div><\/div><div style=\"margin-left: auto;\"> <div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div> <div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div> <div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div><\/div><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div><\/div><\/a><p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\"><a href=\"https:\/\/www.instagram.com\/p\/B0bRwjtFSFY\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;\" target=\"_blank\">A post shared by Cowrywise (@cowrywise)<\/a><\/p><\/div><\/blockquote><script async src=\"\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"first\">&nbsp;The first NYSC money steps<\/h2>\n\n\n\n<p>1. <strong>Gather as much information as you can on mandatory living expenses. <\/strong><\/p>\n\n\n\n<p>What will it cost you to eat, rent a house, and move around in your place of primary assignment (PPA)?<\/p>\n\n\n\n<p>2. <strong>Estimate the monthly cost, and compare that with your monthly earnings. <\/strong><\/p>\n\n\n\n<p>Do you need to earn more? We have tips in the next section.<\/p>\n\n\n\n<p>3. <strong>If your projected monthly earnings can cover basic costs, determine how much you can save. <\/strong><\/p>\n\n\n\n<p>You should check out our <a href=\"http:\/\/cowrywise.com\/save\">high-interest saving plans<\/a>.<\/p>\n\n\n\n<p>4. <strong>Determine what your money goals are. <\/strong><\/p>\n\n\n\n<p>They could range from your rent to payments for certification exams.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center\"><a href=\"https:\/\/cowrywise.com\/blog\/way-save-pay-house-rent\/\">A better way to pay your rent.<\/a><\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"earn\">How to make money during NYSC<\/h2>\n\n\n\n<p>Did you freak out after calculating your basic costs? That\u2019s fine. It\u2019s clear that you\u2019ll need to explore options that can help you earn extra cash. A not-so-easy way out is to seek a PPA with juicy add-on pay. Just as I mentioned, it is far from easy. In seeking out a high-paying PPA, be careful not to go for one that will consume earnings through commuting. More importantly, focus on how it positions you for progress on your career path.<\/p>\n\n\n\n<p>What if you aren\u2019t lucky enough? There\u2019s a way out. You need to explore side gigs \u2014 preferably one that doesn\u2019t demand your presence. <\/p>\n\n\n\n<p>Here\u2019s a five-step guide to picking a side gig:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>List out your interests. I assure you that this will be long a one, and that\u2019s just fine.<\/li>\n\n\n\n<li>Ponder on them for about a week, preferably at the orientation camp. This will help you filter your options.<\/li>\n\n\n\n<li>Pick out the interests that will let you work remotely.<\/li>\n\n\n\n<li>Take short (free) courses online to polish interest-related skills.<\/li>\n\n\n\n<li>Jump on opportunities with confidence.<\/li>\n<\/ol>\n\n\n<div class=\"shortcode-block\">    <div class=\"inhype-postline-block-wrapper\">\n      <div class=\"container\">\n        <div class=\"row\">\n          <div class=\"inhype-postline-block inhype-postline-block-636836 inhype-block clearfix\">\n            <div class=\"owl-carousel\">\n            \n                  <div class=\"inhype-post\">\n                    <div class=\"inhype-postline-block-content\">\n\n                      <div class=\"inhype-postline-details\">\n                        <div class=\"post-categories\"><a href=\"https:\/\/cowrywise.com\/blog\/money-guides-and-tips\/\"><span class=\"cat-dot\" data-style=\"background-color: #000000;\"><\/span><span class=\"cat-title\">Guides<\/span><\/a><\/div>\n                        <h3 class=\"post-title\"><a href=\"https:\/\/cowrywise.com\/blog\/how-to-make-money-on-youtube-without-making-videos\/\">How to Make Money on YouTube Without Making Videos<\/a><\/h3>\n                                                <div class=\"post-date\"><time class=\"entry-date published updated\" datetime=\"2023-05-15T10:37:38+01:00\">May 15, 2023<\/time><\/div>\n                                              <\/div>\n\n                                            <a href=\"https:\/\/cowrywise.com\/blog\/how-to-make-money-on-youtube-without-making-videos\/\" class=\"inhype-post-image-link\">\n                        <div class=\"inhype-post-image\" data-style=\"background-image: url(https:\/\/cowrywise.com\/blog\/wp-content\/uploads\/2023\/05\/How-to-Make-Money-on-YouTube-Without-Making-Videos-scaled.webp);\"><\/div>\n                      <\/a>\n                                          <\/div>\n                  <\/div>\n            \n                  <div class=\"inhype-post\">\n                    <div class=\"inhype-postline-block-content\">\n\n                      <div class=\"inhype-postline-details\">\n                        <div class=\"post-categories\"><a href=\"https:\/\/cowrywise.com\/blog\/money-guides-and-tips\/\"><span class=\"cat-dot\" data-style=\"background-color: #000000;\"><\/span><span class=\"cat-title\">Guides<\/span><\/a><a href=\"https:\/\/cowrywise.com\/blog\/investment-tips\/\"><span class=\"cat-dot\" data-style=\"background-color: #000000;\"><\/span><span class=\"cat-title\">Investing<\/span><\/a><\/div>\n                        <h3 class=\"post-title\"><a href=\"https:\/\/cowrywise.com\/blog\/where-to-invest-money-in-nigeria\/\">Where to Invest Money in Nigeria 2023: 11 Places Worth Looking<\/a><\/h3>\n                                                <div class=\"post-date\"><time class=\"entry-date published updated\" datetime=\"2022-11-16T22:43:55+01:00\">November 16, 2022<\/time><\/div>\n                                              <\/div>\n\n                                            <a href=\"https:\/\/cowrywise.com\/blog\/where-to-invest-money-in-nigeria\/\" class=\"inhype-post-image-link\">\n                        <div class=\"inhype-post-image\" data-style=\"background-image: url(https:\/\/cowrywise.com\/blog\/wp-content\/uploads\/2022\/11\/where-to-invest-money-in-nigeria.webp);\"><\/div>\n                      <\/a>\n                                          <\/div>\n                  <\/div>\n                        <\/div>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n    <\/div>\n\n\n\n<h2 class=\"wp-block-heading\">How to get a side-gig in your service year<\/h2>\n\n\n\n<p>To broaden your opportunity net of landing side-gigs, you need to be seen.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Participate in online conversations around the interests you\u2019ve groomed (you\u2019re grooming) yourself for.<\/li>\n\n\n\n<li>Create short mock pitches about ideas that relate to your interests. If you are active, you\u2019ll attract the right attention. For example, as a graphics designer, you can create mock ads and build a portfolio that way.<\/li>\n\n\n\n<li>Search for small firms with needs you can satisfy. Then, make clear pitches with your portfolio attached. If you need help with crafting great pitches, you can speak to our partner \u2014 <a href=\"https:\/\/cowrywise.com\/blog\/scale-my-hustle\/\">ScaleMyHustle.<\/a><\/li>\n<\/ol>\n\n\n\n<p>It is important to note that consistent participation is key to landing these gigs. It helps with building a referral network that will expose you to more gigs. Also, it helps with positioning yourself for career success.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Looking for a platform to help get side-gigs? Check <a href=\"https:\/\/twitter.com\/TundeTASH\/status\/1164923944094380032?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a><\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"savesting\">Saving and investing as a corps member<\/h2>\n\n\n\n<p>It is important to understand your expenses as an NYSC corps member before you save and invest. That was why I took out time to explain things in the earlier sections. <\/p>\n\n\n\n<p>Here is a detailed explainer on\u2014<a href=\"https:\/\/cowrywise.com\/blog\/much-my-money-should-save-invest\/\">how much of your income you should save<\/a>.<\/p>\n\n\n\n<p>For the purpose of this guide, I\u2019ll summarize the explainer with a few steps:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Understand your expenses<\/li>\n\n\n\n<li>Set your money goals<\/li>\n\n\n\n<li>Determine how much you can save periodically<\/li>\n\n\n\n<li>Save in <a href=\"https:\/\/cowrywise.com\/circles\/\">Circles<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/cowrywise.com\/invest\">Invest your savings<\/a><\/li>\n<\/ol>\n\n\n\n<p>To help you walk the talk, you can join a Savings Challenge for your batch here. Once you join the challenge, you get to save as you wish with motivation from other corps members. For example, you can choose to save NGN5,000 monthly and we\u2019ll help you invest that to earn interest (you can disable interests if you wish).<\/p>\n\n\n\n<p>Each challenge lasts for a year. Given that challenges are meant to motivate you, the Cowrywise team will surprise you with amazing gifts at the end of each month. So, you need to follow us on Twitter, Facebook, and Instagram for updates.<\/p>\n\n\n\n<p>Also, it is possible to have multiple savings and investment plans alongside the challenge with one Cowrywise account.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-text-align-center\"><a href=\"https:\/\/cowrywise.com\/blog\/is-cowrywise-legit\/\">How safe and secure is Cowrywise?<\/a><\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"challenge\">How to join the NYSC Savings Challenge<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Download the Cowrywise app <a href=\"http:\/\/cwry.se\/app\">here<\/a><\/li>\n\n\n\n<li>Signup and verify your email<\/li>\n\n\n\n<li>Visit the <a href=\"https:\/\/cowrywise.com\/circles\/NDQzNzM3YmQyMGI1NDk4YT\">Savings Challenge page<\/a><\/li>\n\n\n\n<li>Join your batch\u2019s Saving Challenge. You can join any challenge if you don&#8217;t find your batch.<\/li>\n\n\n\n<li>Go to the app<\/li>\n\n\n\n<li>Set your savings preferences ?<\/li>\n<\/ol>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f5f7fc\"><strong>Suggested savings pattern: NGN5,000 per month. You can do more if you wish. Also, you can top up anytime you want.<\/strong><\/p>\n\n\n\n<p>All through the year, we\u2019ll reward outstanding savers \u2014 this won\u2019t be always determined by the amount saved. Also, we\u2019ll randomly surprise you with gifts that matter from week to week. It\u2019s going to be an exciting experience. Let the challenge begin!<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>RELATED:<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/cowrywise.com\/blog\/personal-finance-tips-for-graduates\/\">Personal Finance Tips For Graduates<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/cowrywise.com\/mutual-funds\">Mutual Funds in Nigeria<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/cowrywise.com\/blog\/money-guides-and-tips\/equity-mutual-funds-nigeria\/\">How to Invest in Equity Mutual Funds<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/cowrywise.com\/blog\/money-guides-and-tips\/6-ways-to-save-and-invest-in-nigeria-with-cowrywise\/\">7 Ways To Save Money in Nigeria<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/cowrywise.com\/blog\/money-guides-and-tips\/how-to-automate-investments\/\">How To Automate Investments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The relatable guide on how to earn, save and invest as an NYSC member.<\/p>\n","protected":false},"author":1,"featured_media":9873,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[134,173],"tags":[180,209,181],"coauthors":[463],"class_list":{"0":"post-1508","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-money-guides-and-tips","8":"category-saving-tips","9":"tag-investment","10":"tag-nysc","11":"tag-savings"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Make, Save and Invest Money As A Youth Corper During NYSC<\/title>\n<meta name=\"description\" content=\"The most reliable guide to making, saving and investing money as a youth corper in the NYSC programme. Here&#039;s how to get a hold of your finances.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cowrywise.com\/blog\/make-save-invest-money-nysc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Max Out Your Service Year: How To Earn, Save and Invest Money During NYSC\" \/>\n<meta property=\"og:description\" content=\"The most reliable guide to making, saving and investing money as a youth corper in the NYSC programme. 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