”Olowogbogboro” crooner Nathaniel Bassey has dished out tips on how to save and invest. This he did for the benefit of christian musicians who do not have a saving culture.
Read his post…
One of the things you must learn from now, especially as we approach a new year
is to develop a “SAVINGS & INVESTMENT CULTURE”
You see, Because of the unique way we earn our money and living, we tend to also spend it that way. Hoping for that HUGE & MASSIVE BREAK.
Remember, You are not the typical 9-5 worker with a fixed income. And As a result? it becomes very tempting to just spend in the hope that some other event will always come.
Years ago I was always broke. And could not do much. But one day, I had an idea to get my one year bank statement. By the time I saw the amount of money that flowed through it, I realized I had been foolish and reckless in my spending. So I decided to open what I called a DUMP ACCOUNT. For that account, I made sure I had no internet banking, No atm card. And it was purely for savings. Plus any unexpected funds I received, minus my TITHE (Amen…😌😌) offerings and others etc, just went straight into that account. And from that account, by God’s grace, I’ve been able to fund a lot of our projects.
Also, make a list of your various streams of income. Music ministers now have a few, especially with the numerous online platforms with payment options. Reinvest these monies. Cars, sadly are not good investments. They depreciate over time. They just make you look good at the moment. Buy what (cars), you NEED. Truth is after a while, a time will come when buying a car will be very easy without breaking your bank. But for now, invest in properties and other viable businesses. And by the way, You don’t have to wait for those in IKOYI and LEKKI. Go to new towns, find good companies and put your money away in landed assets that would appreciate years to come.
Honestly, if you don’t learn to plan your finances now, you would wake up one day and think God failed you or Satan and His demons are at fault. Meanwhile you have been the one living without WISDOM.
You may think you are not earning much now, but I tell you, it would shock you what you have earned over time and what that little “OIL” in your hands can produce years to come.
Happy Weekend Guys!