Money Chronicles showcases the honest money experiences of everyday people who use Cowrywise. We share a story on the 17th of every month. This month, we speak with Chiagoziem, a student at the Federal University of Technology, Owerri who bought her first Mutual Funds investment at the age of 19. She shares the impact her parents had in helping her imbibe the right money habits and how being a student ambassador has helped her with financial education. You can tell she’s such a bright one when reading through our conversation with her below. ?? Dive in! \u2b07\ufe0f<\/p>\n\n\n\n
My name is Anyanwu Chibuikem Chiagoziem. I am a student, innovator, and writer. I also run a not-yet profitable startup and I am a techie.<\/p>\n\n\n\n
Haha, thanks! That’s another angle and I get you. ?<\/p>\n\n\n\n
I found out about Cowrywise during the lockdown. I was searching on Google for investing apps. This was after putting some effort to up my game in personal finance and knowing that I could save some money for some things in school<\/a>. I had been hearing about investments and was really inspired by Warren Buffett<\/a>. And then I found Cowrywise, the best for mutual funds investments. ?<\/p>\n\n\n\n I first checked the FAQs<\/a> before diving in. When I realized I could afford the minimum amount for purchasing the mutual funds investments, that was the green light for me. I even wished I had started earlier. I knew about investments from when I was young. My parents would tell me about the stocks I bought and I’d always check the newspapers to see if they performed well. I felt like an old soul in a young body. My parents always helped me imbibe the right money habits – maybe because I was the first child, I don’t know. ?<\/p>\n\n\n\n I can actually invest in Mutual Funds with a part of my money, which makes me accountable. <\/p>\n\n\n\n I tend to use the 50:30:20 finance rule<\/a> which has helped me to balance out useless spending. Also, the fact that I have something to fall back on, just in case wahala<\/em> burst. There’s this peace of mind knowing that you’re building up funds somewhere safe.<\/p>\n\n\n\n To be honest, I felt like the female Warren Buffett. <\/p>\n\n\n\n\n\n I didn’t let anyone rest that day, especially when Cowrywise gave me a badge for being an investor. They all made it seem so grand, everyone was surprised. I was actually surprised by how surprised they were. ?<\/p>\n\n\n\n It was straightforward. The app also explained the types of mutual funds you could invest in according to your risk level, which made it a whole lot easier. Also, there are dollar mutual funds investments<\/a>; there are plenty of options and it gave some information on each of these individual funds. I found that very helpful. <\/p>\n\n\n\n I heard about mutual funds during the lockdown. It was necessary for me as a newbie to diversify my risks and my portfolio. Mutual Funds on Cowrywise enabled me to have access to low-risk, moderate and high-risk investments all at once; an excellent opportunity for newbies and also a way to save for the future. <\/p>\n\n\n\nAwwnn…thank you for the kind words. What prompted you to begin using the app? Did you at any point think you were too young to start taking your finances seriously?<\/strong><\/h2>\n\n\n\n
Stellar parents.<\/strong> ??<\/h2>\n\n\n\n
What has changed with your finances since you’ve been using Cowrywise?<\/strong><\/h2>\n\n\n\n
So, let’s talk about your <\/strong>tweet<\/strong><\/a>! You shared that you bought your first mutual funds at the age of 19. That’s amazing! Tell us how that felt.<\/strong><\/h2>\n\n\n\n
Was the process of investing on the app easy? Were there any hurdles you faced while purchasing the fund?<\/strong><\/h2>\n\n\n\n
Mutual funds have been around for a long time, but they are recently just making waves in Nigeria. When did you first hear about mutual funds, and why were you so convinced that you needed to invest in them?<\/strong><\/h2>\n\n\n\n