Some 2021goals

1. educate yourself on how money works.....read about money, investing, budgets, etc.

.
2. calculate how much cash you have to pay bills if you lose your job, get a figure in days/months. Have a plan to save/extend that figure as much as possible. for example, if you have just 1 week of "emergency funds" have a target to extend it to three months.
3. cut down on unnecessary spending, get a budget, stick to it.

4. Look for multiple sources of income, if you have 2 cars, start a private Uber, if you have a free boys quarters, rent it out, monetize your assets.

5.have zero debt

6. Earn foreign exchange, export something
What financial plans, goals or hacks do you have?

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Kalu Aja

Kalu Aja Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @FinPlanKaluAja1

4 Jan
If I borrow, I'm accountable to pay it back. Thus I am very careful when I take debt

If I am a CEO, and I borrow, it affects my Company profitability, thus I am responsible

If I borrow as an elected official, I am only responsible for a maximum of 8 years. important to note
Few nations do not borrow

Debt is simply upfront consumption. When you borrow, you are essentially saying you want to use future revenues today

Hence you create a vacuum of revenue in the future. The rationale is to borrow, create wealth today, cover future vacuum
Thus If you borrow today and invest in a non-income-generating activity, you leave that future income vacuum intact.

Hence the term ROI seeks to measure how much return any investment will accrue to cover future obligations
Read 11 tweets
17 Dec 20
Chile is Capitalist ie free markets; target is equal opportunities

Venezuela is Socialist ie government controlled markets; target is equal outcomes

Chile is now richer than Venezuela who has probably the largest deposits of crude oil globally. Riches not based on crude oil.
NO government can create a job...ONLY the private sector can...all the government can do is redistribute .

Socialism has never made any nation rich, please note a capitalist nation can have an extensive social welfare programs eg Denmark, that does not make them Socialist.
"Socialist" government are governments that set prices eg for petrol, that own economic assets eg NNPC & even influence economic decisions like setting exchange rates for the economy.

The worst mixture is a Socialist government that is pursuing a welfare agenda like Venezuela
Read 6 tweets
12 Dec 20
Farming is no longer by prayer; grace or hardwork. Today it's science and genetics; brains not brawn

Isreal grows more than 40 types of fruit, exporting up to $2.4b in agricultural exports from a "desert."
Farming is not "patriotism...its a business.

The Duijvestijn brother's in the city of Delft have a 36 acre greenhouse comex producing 15 types of tomatos..with its own energy and fertilizer.
Many Family farms in Netherlands have a higher yield than entire States in Nigeria.

I am not discouraging you, just saying go and learn. Shonghai has farms in Benin Republic and Nigeria.

Go learn.....
Read 4 tweets
6 Dec 20
Forex trading 101

Rule 1. Demands makes price go up.

Demand from where? EU?

Investor in Paris wants to buy US Bonds on Tuesday, he tells his banker "buy US bonds"

Banker sell Euro to Buy $. So $ demand is up Tuesday.

The successful trader bought $ on Monday, sold Tuesday
Forex Trading

Rule 2: Supply makes prices fall

US wants to bomb Iraq, will fund war by borrowing a lot...dollars will be plenty.

So successful investors sell $ and but Swiss FR ..before US starts bombing
Forex Trading Rule 3.

You trade dual

Unlike Stocks, where you can buy Apple an wait, in currency trading, you take a long position (buy) and a short position (sell).

Your profit is spread

You move from high supply currency to low supply currency
Read 7 tweets
3 Dec 20
Why are states in Nigeria not paid their share of the oil and gas earnings in the currency it was earned in, i.e., the United States Dollars (USD)?
Crude oil in Nigeria is owned by the Federation — the Federal, State, & Local Govt. Shared as follows: 13% is deducted & paid to the oil and gas producing States; next, the Federal Government (FGN) gets 52.68%; the States get 26.72%, & the Local Governments get 20.60%.
When Nigerian crude oil is sold, the proceeds are in USD and get paid to the NNPC/CBN/JPMorgan Account in the US. The Oil taxes, e.g., Petroleum Profit taxes, are also in USD and are collected by the Federal Inland Revenue Service and paid to the Central Bank of Nigeria (CBN
Read 19 tweets
28 Nov 20
A short story

Ada got a bonus is N1m in 2005

She invested in a fixed income certificate in a bank....she earned 10% per annum.

Ada was happy..
Then inflation started to rise...

Suddenly inflation was 8%

Ada was not happy
So Ada withdrew her cash from the bank and invested in a higher yield Corporate Bond paying 16% per annum...

But inflation rose to 12%

Ada was not happy
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!