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23 Feb, 13 tweets, 9 min read
Thank you for joining our #tweetchat with @HISFABNESS.
Our first question is on inspiration.

Use #OverwoodChat in your tweets to join the conversation.
@HISFABNESS Our next question is on starting a business.

Use #OverwoodChat in your tweets to join the conversation.
@HISFABNESS Question 3 is on validating prospective ideas.

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@HISFABNESS Question 4 is on defining a target market.

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@HISFABNESS Question 5 is on licensing.

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@HISFABNESS The next question is on legal landscapes.

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@HISFABNESS Question 7 is on funding.

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@HISFABNESS Question 8 is on marketing.

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@HISFABNESS Question 9 is on scaling a business.

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@HISFABNESS Question 10 is on investing.

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@HISFABNESS Question 11.

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@HISFABNESS Our final question is for young entrepreneurs.

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That’s all for #OverwoodChat, everyone! Thanks for taking the time to join in. We’ll see you again next week for our next chat. Make sure to keep connected with our guest @HISFABNESS!

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More from @Overwoodng

Overwood Profile picture
24 Feb
How to Pay Yourself First - An OVERWOOD Thread

“Do not save what is left after spending; instead spend what is left after saving.”
―Warren Buffett

The best way to get ahead financially is to save. It’s another salary week, follow these steps to help you reach your future goals: Image
1. Add up your monthly income

Before paying yourself first, you need to figure out how much to pay yourself. Sum up your monthly cash inflow net of taxes. This first step ensures every income source contributes towards your financial goals.
2. Budget your expenses

Have a plan to spend. Your budget should tell you where your money should go. Prioritize needs over wants & ensure you always include variable expenses in your budget to avoid debt. Subtract monthly income from expenses to know how much money is leftover
Read 7 tweets
Overwood Profile picture
23 Sep 20
How to build an investment portfolio for each age-group.

- An OVERWOOD thread
1/ The most important rule of investment is the need for portfolios instead of individual investments.

Portfolios enable you to be more strategic with investments while reducing the possibility that you would lose everything to a single bad investment.
2/ HOW TO CREATE A PORTFOLIO

1. Start by dividing your principal into 3 segments.
- Segment 1: Conservative fund (very safe).
- Segment 3: Balanced fund.
- Segment 2: Aggressive fund (more risk).

2. Assign percentages to each segment based on life stage.

3. Adjust with age.
Read 12 tweets
Overwood Profile picture
15 Sep 20
𝐇𝐨𝐰 𝐓𝐨 𝐆𝐞𝐭 𝐎𝐮𝐭 𝐎𝐟 𝐃𝐞𝐛𝐭

Debt can be incurred in a matter of minutes while it could take months or years to pay it off.

Here are some steps you can follow to pay it off faster:
overwood.ng/blog/how-to-ge…
1. Stop incurring more debt.
Getting out of debt will be harder if you keep incurring more. Avoid debt by all means.

2. Build an emergency fund
Unexpected or unplanned expenses might be the reason you are in debt; an emergency fund will take care of such unplanned expenses.
3. Increase your monthly payment.
To get out of debt faster, try to increase your monthly payments if you can pay more than the minimum.

4. Automate your payments.
Set up a regular automatic payment towards your debt. This way, you’ll never forget and you'd pay it off faster.
Read 4 tweets
Overwood Profile picture
1 Sep 20
Ade and his wife, Bola have always wanted to save for their son, Kunle's future education, but they have never quite been able to make it happen. They made attempts to start a child-savings plan but each time, a more pressing issue crept up. 1/5
Bola, an elementary school teacher, lost her job during the recession. For two years, the family was getting by on Ade’s civil servant income. Every time Bola raised the issue of saving for their son's education, Ade would say, "we would deal with that in the future." 2/5
As the years went by, the cost of education in Nigeria increased and Kunle’s parents struggled to keep him in school.

After many years of toiling and incurring debt to pay for their son’s education, Kunle made straight A’s in his SSCE with a desire to study Law. 3/5
Read 5 tweets
Overwood Profile picture
26 Aug 20
Dave Ramsey's Envelope System of Budgeting.

#overwood #Thread Image
The envelope system is a way to accurately budget discretionary expenses every month.

1. Set aside an envelope each for your budget.

Be true to yourself, set aside an envelope for each expense and remain commited to it. It would help you gain control of your finances.
2. Do not borrow from the other envelope.

Once the money is gone from a certain envelope, you’re done until the next paycheck arrives. Try not to borrow from another envelope.
Read 4 tweets
Overwood Profile picture
20 Aug 20
How to create an investment portfolio.

#Overwood #Thread Investment portfolio
An investment portfolio is a set of assets owned by an individual (investor).

It is not advisable to put all your savings in one investment instrument. Diversification is the safest way to play the investment game, and you can do this by creating an investment portfolio.
An investment portfolio will help balance your risk and returns.

To create a portfolio:

1. Split your investment funds into three buckets.

(a). Long term Aggressive Bucket (LAB).
(b) Medium term Balanced Bucket (MBB).
(c) Short term Liquidity Bucket (SLB).
Read 7 tweets

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