Edna Jennifer Profile picture
Sep 15, 2020 9 tweets 2 min read Read on X
Making $50,000 in sales & $30,000 in expenses

is BETTER THAN

Making $1 million sales & $990,000 expenses

The 1st scenario gives $20,000 profit, while the 2nd made HALF of what the 1st got ($10k profit)

Money Lesson: it‘s not just about what you make, it’s about what you KEEP
Also, you shouldn’t just get excited when people show you sales of $1m or when these YouTube ads and drop shippers tell you they’ve made $5m in sales. Sales is NOT the same as profit. Sales is NOT the amount business owners keep for themselves.
Someone making N100,000 every month and spending N80,000 every month

is financially BETTER off than

someone making N1m every month and spending N995,000 every month

Again, when it comes to money, IT’S NOT JUST ABOUT WHAT YOU MAKE, IT’S ABOUT WHAT YOU KEEP.
Someone INVESTING 10,000 consistently every month

in the long run, is going to be FINANCIALLY better off than

someone SAVING 50,000 every month

If you invest 10k every month for 20 years @ 15% average yearly return & reinvesting profits, you’ll have approximately 13.3m while
if you save 50k every month in a safe or bank with 0 interest, you’ll have 12 million after the same 20 years.

PS: ignore the dollar sign in the screenshot. The numbers are the same irrespective of the currency you use
Money lesson: it’s not just about how much you KEEP, it’s about how much what you keep can make you. Don’t just store, plant. Don’t just save, invest.
If you invest 100,000 in something that gives you 400% return in 2 months/years, at the end of the 2 months/years, you’ll have 500,000.

If you continue with the “something” and in the 3rd month/year, the “something” goes under, you’re 500,000 goes to 0

If you invest 100,000 in
another something that gives 10% returns every year, by year 2, you’d have 121,000.

If by year 3, the economy goes bad and the investment gives -5% return, you’d have 114,950. Still better than where you started 3 years ago and better than 0
Money lesson: it’s not just about investing, it’s about investing wisely. Not every thing that shines is good for you to get involved in. If you shine light at the right angle on a metal trash can, it’d glitter. Doesn’t make it any less a trash can.

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More from @JE_dna

Sep 17, 2022
How to save money as an international student in the UK

If you just moved to the UK as a student/worker, here are some tips on how you can save some money

Please share this thread with someone who needs it.

Student discounts, student discounts, STUDENT DISCOUNTS. If you’re a
student & you go for an outing or to a cinema, be sure to ask if there are student discounts. Most places that offer student discounts would usually ask you if you’re a student if they think you look like a student, but if they don’t, feel free to ask

If you’re in London & you
use the public transport system: i.e. bus, tube, train, tram; get the Oyster card student discount. You can save up to 30% per month on transportation from this. Google “oyster card student discount”, and you’ll find all the steps to register on the TfL website

Charity shops
Read 24 tweets
Jan 14, 2021
It seems like every generation falls into the trap of pushing everybody in the following generation into what is seen to be the most profitable/highest paying careers in their generation.

In our parents' generation, the emphasis was on going to college/university to study
usually, medicine, law or engineering.

This was because, at the very least, anyone with a university education in their generation was guaranteed a ticket out of poverty.

What parents do not get (and this generation seems not to have learnt) is the fact that if more people move
into a certain profession, the profession cannot be high paying for everyone

The reason why most people with a college education in the 80s/90s were guaranteed at minimum a good middle-class life was because the supply of people with the same skill level was not large. Since the
Read 8 tweets
Jan 8, 2021
Q: How do you know when to sell your investment in fast growing assets like Tesla $TSLA or Bitcoin $BTC or Ethereum $ETH

A: You don’t KNOW, no one does

The only ways to KNOW are:

1. Have a time machine
2. Have access to insider information about what’ll happen in the future
Seeing as most of us have neither 1 nor 2, here’s what you can do.

One of 2 things is sure, you could sell today and the price would go up significantly and you’d regret it. Or you could sell today and the price would drop significantly and you’d thank your stars. With fast
growing assets, both things have a fairly good chance of happening in the nearest future.

So you cannot make the decision based on what you think would happen in the future because you just don’t know.

You have to make the decision based on where you are RIGHT NOW. You have to
Read 7 tweets
Jan 7, 2021
You usually hear:

“A $1,000 investment in Apple stock in 2010, would be worth $15,000+ today
$1,000 worth of Bitcoin $BTC at the start of 2016, is worth $70,000+ today”

What you don't hear is

“$1,000 invested in Cisco in March 2000, excluding dividends, was worth $200 in 2011
If you had invested $1,000 in Ripple $XRP in December 2017, you would have about $100 today”

What does this mean?

There is a huge survival bias when we talk about investments. Survivorship bias/survivor bias is simply the tendency to focus on things that did great and forget
those that did horribly.

For every exceptionally profitable investment you could have made in the past, there are disastrous ones you could have made. You never really KNOW which investments will be the biggest winners or losers in the future when you’re living in the moment.
Read 6 tweets
Jan 6, 2021
It's great that more people are becoming aware of the importance of investing BUT, as we seek out more investment opportunities, you should know that unlike Shrek, all that glitters is not gold. Not all good looking investment opportunities are safe and legit.
 
You should also
know that an investment opportunity doesn't have to be a Ponzi scheme for you to run away from it.
 
Most of the investment opportunities available in the Nigerian Fintech space are 3rd party investment.
 
The way 3rd party investment works is: a company gets money from investors
to create value which can be in the form of a business (e.g. fish farm, real estate etc.). After a certain period, that business should generate profit and the company then pays investors their capital plus a share of that profit as returns.
 
It becomes a problem when the
Read 24 tweets
Jan 4, 2021
Bitcoin recently hit $34,000 yesterday when as recent as October 10th, it was $11,000

Here’s some unsolicited advice: If you feel you have “bad luck” with investing; i.e. you feel that “if you buy Bitcoin today, the price of Bitcoin will drop”; don’t buy in.

Here’s why I say so
I try to never categorically give financial advice because I’d rather show people how I’d make decisions if I were in their shoes and I like (prefer) people to think for themselves and consciously make decisions they feel is best for them or decisions they can live with and not
just go off what some random person on the internet says BUT I’ll make an exception this time and tell you this, if you think you have bad luck with investing, don’t buy in. Here’s why:

People that feel they have bad luck with investing often have 3 things in common:

1. Fear:
Read 12 tweets

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