How to Save Money and Make More Money at No Risk in Nigeria

 Your bank is your biggest cheat!How?

1.They pay you 3% Interest for keeping your money and make 20% return for lending it out.

2 .Your money loses its value everyday while they do business with it

Let me show you with proof! Remember those things you could buy with just five thousand

naira(N5000) in 2003, can you still buy them in 2014 with the same N5000? Capital No!Why? Because price has risen. That is the power of INFLATION. Now I can confidently tell you again that basic things you can buy now with twenty thousand naira(N20,000) today may no longer be obtainable at same price in 2017: which means you will need more money on what you already have to buy that same product.

The big question is how will you make more money today to cover your living expenses tomorrow,when the market price of your basic needs is on the upside? Here is my personal and practical tested tips on how to save without risk and make money where I will show you the best place to put your money and sleep well at night. 

I already have a bank account,so where else are you expecting me to save my money? You might have asked yourself this question after reading through my opening piece.
Let me show you one simple and little unknown secret of saving profitably. Ask yourself,what is my present and future cost living? The cost of living in Nigeria is largely measured by current inflation trend otherwise known as consumer price index currently at 7.7-9% as released by the Nigeria Bureau of Statistics. In my opening piece, I explained the danger of inflation and how it can make your saving worthless everyday.

For those who do not understand what cost of living is, your cost of living is the amount which you will need everyday to maintain your current lifestyle. Assuming you spend fifty thousand maira(N50,000) to get all you need in a month,it is estimated that,based on inflation trend,by next year youmay need an average of N55,000 to maintain your standard of living. What if your income doesn’t increase proportionally? It's a big issue you need to think about?

My final say, fromall these analysis. Is this – The best place to save your money is where you will get a return above inflation rate (9%) annually – your increasing cost of living and still have extra cash for more savings and accumulated interest return to cover future expenses.

Here is an example of such saving media.

1. Save your Money in Money Market Instruments.When you put your money in money
   market via FirstBank Money Market Fund or Aiico Insurance Money Market Fund, you will earn a guaranteed interest equivalent to the money market rate (11-12% annually – better than 3% return on your savings and currently higher than inflation rate) payable every quarter t no risk into your bank account. You can even invest it on compound interest.
2. Saving and diversify your money in US Dollar denominated assets. This is a secret most people don't know. If you have been following the USD/NGN exhange rate for a while, you will see an upward trend in US dollars against the Nigeria Naira. AS at when I this report,1USD is equivalent to N172.3 amidst dwindling foreign reserve and political instability in Nigeria. Assuming you bought $100 when 1USD was 115 that would be N11,500. Now that 1USD is N172.3, you would have made an exchange rate gain of N6000 to give N17,500. I have seen a permanent factor that if not corrected will continue to push the USN/NGN rate higher in long term.
   It is advisable that you keep your savings in foreign currency denominated asset that has potential of going northward in the long term against your currency.

How do I get started?

1. For Money Market Fund , go to any branch of FirstBank Nigeria or Aiico Insurance and request for a Money Market Fund account opening form, fill it and select your investment preferences
2. For your USD Asset, walk into any bank of your choice,go to the customer service desk and collect a domiciliary account opening form.
   
   
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