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Friday 29 March 2024

Achieving Personal Finance Goals/ Financial Freedom in Africa


Achieving Personal Finance Goals in Africa

Whether you’re under the burden of huge debt or just wish to save more money, setting personal financial goals is essential. 

Especially in Africa, where people need to take money-saving seriously because of financial illiteracy, luckily, African youth are striving to build businesses, and as they are more into entrepreneurship, they know how important it is to save and track money. 

This post aims to provide you with six important and basic steps to achieving personal finance goals while living in Africa or other parts of the world. (Money works the same everywhere).

6 Steps To Achieving Personal Finance Goals in Africa

For any kind of success, we have to set some goals/milestones and start working on achieving them, right? Similarly, for financial success, you need to create personal finance goals and start working on achieving them. 

I’ve broken down the steps for you so that no matter if you've got financial knowledge or not, the details won’t overwhelm you.

#1- Budgeting and Saving

The main step to achieving personal finance goals is to create an effective Budget. You can create a budget utilizing 50 30 20 rule, which says; 

  • 50% of the money should be spent on Needs. 
  • 30% of the money should be spent on Wants. 
  • 20% of the money should be saved. 

This rule is the perfect and easiest way to divide your monthly income. It helps you overcome the urge to impulse buy. 

When you start saving 20% of your income, you’ll get a relaxation to overcome rainy days. Rainy days are mainly those days that are hard from the common days. In those days, you may have an urgent need to spend money, for instance, in the unfortunate event of sickness and other unforeseeable circumstances.

Even if you lose your job, you’ll have the relaxation of mind to survive the upcoming days until you get a new job. So, budgeting and saving money may look boring or hard initially, but it actually earns you freedom, so you must consider it. 

#2- Investing

In simpler words, investing is a form of passive income. Meaning you get more than you’ve invested initially. Now, there are many types of investing, and it's not hard to start investing. All you need is basic knowledge and money for investment, and you’re good to go. 

Here are some types of Investing; 

  • Stocks 
  • Bonds 
  • Funds 
  • Commodities 

There are three simple ways to start investing;

  1. If you have specific knowledge about investing or have time to learn and start investing, this will be called D.I.Y. investing. You’ll be all on yourself. You’ll manage your investments and examine the stock market and everything by yourself. 

  1. If you don’t have time or specific knowledge to start investing, you can seek help from a professional. This will be called professionally managed Investing. There will be a few chances of money loss in this type of investing, which is way less than you can expect in D.I.Y. investing. 

  1. If you don’t have money plus skills to start investing by yourself or through professional assistance, you’ll have an affordable way to do it. It’ll be through the help of A.I. programs that'll do research on both the investor and the company and will suggest to you where and how much you should invest. 

#3- Debt Management

It's always a NO to fulfill your desires or wants through debt money. Credit cards do more harm than anything else. If you want to avoid financial tension, you should better stop taking debt and start giving back the payments you’ve borrowed. 

Saving money can only be possible if your debt accounts are cleared. You can take the help of non-profit debt management organizations, or you can manage your debt all by yourself.

#4- Financial Planning

Financial planning is similar to creating a budget plus setting goals. Out of the many gains, the primary benefit of financial planning is that it ensures an early retirement. 

Creating financial goals, maybe in terms of earning a subsequent amount of money or saving a particular amount each month for a certain period, you start working on those goals, which ultimately pushes you toward your early retirement. 

Financial planning also involves creating an emergency fund. Financial advisors often recommend that people save a six-month emergency fund so that if they have a sudden emergency or any economic issue, they don’t have to borrow money from any bank or loan provider. 

#5- Real Estate

Real estate has always been a hot topic; millions of financially successful people love learning about it and using it to generate money/passive income. 

Well, many of them lost money, too, because they needed more knowledge. So, to earn money through real estate, one must know about buying, selling, renting, and investing in this domain.

  • If you’ve got enough time and energy to invest in real estate, you should consider owning rental properties. It is also called a do-it-yourself strategy. While this strategy may look scam-free, it may cost you a lot of money to manage and maintain the properties when you don’t have any tenants to pay the rent. 

  • The second option is to join real estate investment groups, where big rental companies will construct and maintain the properties and also, they’ll manage the tenants. All you’ll have to do is buy the property; the company will take care of the rest. 

These ways mentioned above are the two primary and traditional forms of real estate investing; you can either buy and sell the properties on your own, or you can take the help of big real estate groups and companies to avoid the hassle. 

#6- Financial Independence, Retire Early (FIRE)

FIRE is a motto that has been trending among individuals worldwide. In Africa, youths are getting more knowledge about financial management and saving, so they are determined to retire early and enjoy freedom. 

The only way to retire early is to start living frugally. Spend less than you earn. Save money aggressively and spend money wisely. 

Whenever you want to achieve goals, you need both self-discipline and motivation. So, for self-discipline, you need to create an effective budget and stick to it. 

On the other hand, you need to join FIRE communities to gain motivation. You can join and actively participate in verified, reliable social media groups/online FIRE forums, where people like you and financial experts will share stories and strategies to retire as early as possible. 

Key Takeaway 

Creating and achieving personal finance goals is essential for everyone. Those who ignore them suffer from the financial crisis. 

Spending frugally and tracking your expenses is the best way to stick to your budget. Consider following the steps mentioned above, and you’ll see how much money you save a month and how fast you achieve your personal finance goals. 

Thursday 21 March 2024

Jimmy Carter Makes History as Longest Living Former U.S. President - Today in History

 Welcome to our first edition of today in history! On this Friday, March 22, 2024, we commemorate a significant milestone as Jimmy Carter, the 39th President of the United States, achieves a remarkable feat, becoming the longest-living former US President. Join us as we delve into this momentous occasion and explore the legacy of one of America's most iconic leaders.

Jimmy Carter: A Legacy of Service

Born on October 1, 1924, in Plains, Georgia, James Earl Carter Jr. served as the 39th President of the United States from 1977 to 1981. From his humble beginnings as a peanut farmer to his tenure in the highest office in the land. Beyond his presidential tenure, Carter's life has been defined by a profound commitment to public service, humanitarian efforts, and diplomacy.

A Record-Breaking Milestone As of today, March 22, 2024, Jimmy Carter has surpassed the record for the longest lifespan of any former US President, a testament to his resilience, perseverance, and dedication to making a difference long after leaving office. At the age of 99, he continues to inspire generations with his unwavering devotion to causes such as human rights, affordable housing, and global peace.

Carter's Enduring Impact During his presidency, Jimmy Carter prioritized diplomacy and championed human rights on the international stage, earning him the Nobel Peace Prize in 2002 for his efforts in conflict resolution and fostering global cooperation. His commitment to social justice and equality has left an indelible mark on American politics, shaping conversations around issues such as healthcare, environmental conservation, and economic equality.

The Power of Leadership Jimmy Carter's journey serves as a reminder of the enduring power of leadership and the impact that individuals can have on shaping the course of history. His commitment to principles of compassion, integrity, and inclusivity continues to resonate with people around the world, inspiring new generations to pursue positive change in their communities and beyond.

As we reflect on this significant moment in history, let us celebrate the life and legacy of Jimmy Carter, a true statesman whose tireless dedication to service has left an indelible mark on the world. As he continues to chart new milestones, may we be inspired by his example to strive for a better, more equitable future for all.

Stay tuned for more insights into the moments that shape our world as we continue to explore the rich tapestry of history together.

Top Companies Offering Competitive Entry-Level Salaries: Forbes Reveals

 In today's competitive job market, securing a well-paying entry-level position is a priority for many graduates and job seekers. According to Forbes, several major companies are leading the charge by offering salaries surpassing the median average for entry-level roles. Let's delve into the list and explore the companies that are setting the bar high for compensation:

  1. Tenet HealthCare Corporation: With an impressive ownership percentage of 87.8%, Tenet HealthCare is renowned for its commitment to providing competitive salaries to entry-level employees. Their dedication to rewarding talent is evident, making them a top choice for job seekers looking for lucrative opportunities.
  2. Citigroup, Inc.: Citigroup boasts an ownership percentage of 82.4% and is recognized for its generous compensation packages across various roles. For entry-level positions, Citigroup stands out as a company that values the contributions of its employees by offering salaries above the industry average.
  3. Bank of America Corporation: Holding a solid ownership percentage of 80.2%, Bank of America is a powerhouse in the financial sector. Not only does it offer robust career development opportunities, but it also ensures that entry-level employees are well-compensated for their skills and dedication.
  4. Target: Target, with a significant ownership percentage of 79.7%, is a retail giant and a leader in providing competitive salaries to its entry-level workforce. With a focus on attracting top talent, Target continues to set the benchmark for compensation in the retail industry.
  5. AT&T Inc.: AT&T, with an ownership percentage of 76.0%, is synonymous with innovation and excellence. The company's commitment to offering attractive salaries to entry-level employees reflects its dedication to fostering a thriving workforce.
  6. Verizon Communications Inc.: With an ownership percentage of 74.9%, Verizon Communications is a trailblazer in the telecommunications industry. Its reputation for providing above-average salaries to entry-level hires positions it as a desirable employer for those seeking financial stability and growth opportunities.
  7. Tesla Inc.: with a notable ownership percentage of 70.3%, Tesla is revolutionizing the automotive and energy industries. Beyond its groundbreaking technologies, Tesla is also known for offering competitive entry-level salaries, making it an appealing choice for aspiring professionals.
  8. Amazon: with an ownership percentage of 66.8%, Amazon has redefined e-commerce and logistics globally. As one of the world's largest employers, Amazon ensures that its entry-level employees receive compensation that exceeds industry standards, reinforcing its position as an employer of choice.
  9. Lockheed Martin Corporation: Holding a substantial ownership percentage of 66.0%, Lockheed Martin is a leader in aerospace and defense. The company's commitment to offering competitive entry-level salaries underscores its dedication to attracting top talent and fostering a culture of excellence.
  10. Tyson Foods Inc.: Tyson Foods, with an ownership percentage of 65.6%, is a critical player in the food processing industry. By offering salaries above the median average for entry-level positions, Tyson Foods demonstrates its commitment to supporting the growth and development of its workforce.

These companies, as highlighted by Forbes, are at the forefront of providing highly competitive salaries for entry-level positions. Their commitment to rewarding talent and fostering a supportive work environment makes them stand out as top choices for job seekers aiming to kickstart their careers on a lucrative note.

Thursday 14 March 2024

Modest Fashion Finds: Top 5 Walmart Dresses for Women - Affordable & Stylish!

 In the realm of modest fashion, Walmart stands out as a treasure trove of chic yet affordable options. For women seeking dresses that marry style with modesty, look no further. Here are our top five picks from Walmart's collection, guaranteed to elevate your wardrobe without breaking the bank. From trendy cuts to timeless designs, these dresses are priced to go and crafted to impress.

  1. 1. Scoop Women's Cut Out Midi Dress with Puff Sleeves

  1. Elevate your wardrobe with the Scoop Women's Cut Out Midi Dress featuring stylish puff sleeves. Available in sizes XS to XXL, this dress offers a perfect blend of sophistication and flair. The modest midi length coupled with subtle cut-out details adds a contemporary edge to your look. Whether it's a casual outing or a special occasion, this dress effortlessly transitions from day to night.

  1. 2. Trendyol Women Design Midi Shift Regular Fit Knitwear Dress

  1. For a versatile wardrobe staple, consider the Trendyol Women Design Midi Shift Dress. Its regular fit silhouette and knitwear fabric ensure comfort without compromising style. Ideal for both work and leisure, this dress exudes understated elegance. Available in a range of sizes, it caters to diverse body types while offering a flattering and modest look.

Paid Link: Buy Trendyol Women Design Midi Shift Regular Fit Knitwear Dress Now.

  1. 3. Free Assembly Women’s Belted Midi Dress

  1. Make a statement with the Free Assembly Women’s Belted Midi Dress, a timeless piece that exudes sophistication. The belted waistline accentuates your figure, while the midi length offers modest coverage. Available in sizes XS to XXXL, this dress is designed to flatter every body shape. Whether paired with heels for a formal event or sandals for a casual day out, this dress is a wardrobe essential.

Paid Link: Buy the Free Assembly Women’s Belted Midi Dress Now.

  1. 4. Time and Tru Women's Smocked Bodice Midi Dress

  1. Embrace effortless style with the Time and Tru Women's Smocked Bodice Midi Dress. Featuring a smocked bodice for a comfortable and flattering fit, this dress combines comfort with chic sophistication. Available in sizes XS to XXXL, it caters to a wide range of body types. Perfect for everyday wear or special occasions, this versatile dress effortlessly transitions from season to season.

Paid link: Buy Time and Tru Women's Smocked Bodice Midi Dress Now.

  1. 5. Terra & Sky Women's Plus Size Square Neck Smocked Dress

  1. Curated for the curvy woman, the Terra & Sky Women's Plus Size Square Neck Smocked Dress offers both style and comfort. The square neckline and smocked detailing add a touch of elegance, while the midi length provides modest coverage. Available in plus sizes, this dress celebrates diversity and inclusivity in fashion. Whether paired with flats for a casual look or heels for a night out, this dress is a wardrobe staple for every occasion.

Paid Link: Buy Terra & Sky Women's Plus Size Square Neck Smocked Dress Now

Discover affordable yet stylish modest dresses at Walmart, where fashion meets affordability. From trendy cuts to timeless designs, these top five picks cater to diverse tastes and body types. Elevate your wardrobe with these chic dresses, priced to go and crafted to impress. Don't miss out on these must-have pieces – shop now and redefine your style with Walmart's modest fashion finds.

[Disclaimer: Prices and availability are subject to change. Check the provided link for the latest information.]

Top $10 Below Father's Day Gifts You Can Buy Now at Walmart

 Father's Day is fast approaching, and finding the perfect gift can be a challenge, especially if you're on a budget. Fortunately, W...