- Don’t treat a 10-year-old like a 16-year-old
- 61% of parents give an allowance. Will you?
- Make them work for it? Not so fast
- Their money, but your call
- Let them watch their money grow
For about a year or more, the Nigerian economy has been facing recession. This has caused so many business failures. But did you know that some businesses still thrive despite recession? It is important to have some daily income or finance coming in so a side business is good. Here are some you can consider;
Whether you’re planning a walk down the aisle or you're already married with kids, there are some common mistakes couples make that can throw a wrench into their finances. As we all know, one of the top causes of divorce in the modern day 21st century is money and finances and all of the issues surrounding it. Couples make a lot of finance mistakes, especially money mistakes. Some of them include.
As the festive period is gradually coming to an end, most people feel pressured that they spent more than they could afford over the festive period. Some have fallen into debt or further into debt as a result of overspending. After the festivities of Christmas and the New Year the month of January can feel rather dull. This isn’t helped by the fact that, if you are paid early before Christmas and unfortunately, there are five or six weeks between the December and January payday, making January feel even longer than it already is. Most times, there are usually five Mondays in January, so it makes it a bit worse. To help you last until pay day, we’ve got some top tips on how to save and stretch your money that bit further.
Bill Gates topped the list of the world’s richest billionaires for the 17th time in 22 years. Though the 60-year-old Microsoft head is $4.2 billion poorer than 2015, his net worth of $75 billion has put him in the top spot on Forbes' World Billionaires list for the third year in a row, after overcoming Mexico’s Carlos Slim Helu in 2014. Helu came in fourth in Forbes’ 2016 list of 1,810 billionaires, behind Gates, Zara’s Amancio Ortega and business mogul Warren Buffett, respectively. Others who made the top 10 include Amazon’s Jeff Bezos at fifth on the list, Mark Zuckerberg of Facebook at sixth, Oracle’s Larry Ellison at seventh, Michael Bloomberg at eighth, and tied for ninth are David and Charles Koch. Zuckerberg, 31, had the best year of all billionaires, having added $11.2 billion to his fortune and moving up from number 16 to six on the list. This is Zuckerberg's and Amazon’s Jeff Bezos’ first appearance in the top ten of Forbes’ annual ranking. The top 10 billionaires rake in a net worth of approximately $505.4 billion. Also see below a map showing the share of Billonaires: Nigeria has a combination of wealth more from political connections and resoureces related and a little from company founders. Not a very healthy mix compared to other countries. Please share your analysis on this as well in the comment box below. Forbes found 1,810 billionaires this year, down from last year’s record of 1,826. The aggregate net worth of the billionaires was $6.48 trillion, $570 billion less than last year. The average net worth of a billionaire dropped for the first time since 2010 and sits at $3.6 billion, down $300 million from last year. While 221 people fell off the billionaires list this year, 198 people joined the ranks. Twenty-nine from the 2015 list died, while another 29 rejoined the list after having fallen off. Noteable drop-offs include fashion designer Tory Burch, Sam Adams head Jim Koch and Dick’s Sporting Goods chief Edward Stack. Of those billionaires who made it on to this year and last year’s list, 892 are poorer while only 501 have increased their fortunes. Chinese billionaire Wang Jianlin, whose company owns AMC Theaters climbed into the top 20. Notable newcomers to the list include Cameron Mackintosh, the first theater producer to enter the ranks, WeWork’s Adam Neumann and Miguel McKelvey and Pinterest’s Ben Silbermann and Evan Sharp.
News broke from the University of Nigeria Nsukka that a final year Agricultural Economics student committed suicide. According to his friend Nwachukwu Daniel Ikechukwu,who posted the photo on Facebook today, the young man allegedly killed himself over debt. However, a number of his friends don't believe he killed himself over money. There is no doubt that studying in University could be quite exhausting. Between paying for books, as well as hanging out with friends, it could get expensive. It is an amazing idea to learn how to budget your money before you get to school so you don’t end up in debt or short at the end of each month when it comes time to pay your bills. Here are a few tips to help you budget your money while in school. Write down your expenses Budgeting is the ke to saving money. Write down everything you need and budget a total amount on everything. Include a bit of extra things like clothes, mall trips and hanging out. When you sort everything out, it’s easier to figure out how much extra you will have to spend. Buy and cook your own food Buy your foodstuff and cook your own meals. Not only is it healthier, it costs less too. If you live in the hostel and one way or the other, you're unable to cook, visit the cafeteria. Food is cheaper there compared to fast food joints. Get used textbooks and course materials. Textbooks and course materials are a huge part of school expenses. Check around your school for book stores which have used books. You can purchase them instead of buying new ones. Also, you can get friends who are a year ahead of you who can give you their books to use after they are dome with it. Look online as well, many websites offer a great deal on PDF files. Try getting a part time job A basic staple in preventing debt accumulation is maintaining a form of employment. This won't keep you vulnerable to financial struggling. Learn a skill The importance of learning a skill can never be over emphasised. Basic skills like hairdressing, make up artistry, tailoring etc can help you gain financial freedom. During holidays and weekends, enrol in any basic skill acquisition class of your choice.