Overwood Profile picture
An investment firm that brings people together to invest into safe, high-yield investment products.
Rasaq Amusa Profile picture 1 added to My Authors
28 May 20
๐‹๐ž๐ฌ๐ฌ๐จ๐ง๐ฌ ๐Ÿ๐ซ๐จ๐ฆ "๐“๐ก๐ž ๐€๐ฎ๐ญ๐จ๐ฆ๐š๐ญ๐ข๐œ ๐Œ๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐š๐ข๐ซ๐ž".

-An OVERWOOD Thread. 4 lessons from
1. Avoid the "latte factor".

Small and routine purchases add up to large sums over time.
2. Pay yourself first.

Invest a fixed cut of your income into your financial goals first.
Read 5 tweets
19 May 20
๐Ÿฏ ๐—™๐—ฎ๐—ฐ๐˜๐˜€ ๐—”๐—ฏ๐—ผ๐˜‚๐˜ ๐—–๐—ผ๐—บ๐—ฝ๐—ผ๐˜‚๐—ป๐—ฑ ๐—œ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜.

-An OVERWOOD Thread.
1. Compound interest takes time.

The longer money compounds, the faster it grows. Money growing at 10% per year will double in 7 years, but it will be worth four times as much in 14 years!

2. Compound interest adds up faster than you think.

If you were to invest NGN100,000 per month, earn 10% interest per annum compounding daily, youโ€™d have NGN20,886,705.61 in 10 years.ย 

And if you don't add a single dime, it would be worth over NGN448,076.84 in another 15 years.
Read 4 tweets
5 May 20
๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น ๐—™๐—ฟ๐—ฒ๐—ฒ๐—ฑ๐—ผ๐—บ ๐— ๐—ผ๐—ฑ๐—ฒ๐—น.

-An OVERWOOD Thread.
Stage 1
Financially dependent.ย 

At this stage, your life and everything around you depends on the decisions of someone else.ย 

Stage 2
Financial novice.ย 

At this stage, your income does not cover your expenses. So, there's a possibility of incurring debt to match your expenses.

Read 10 tweets
4 Mar 20

An OVERWOOD thread

Investing at any age isnโ€™t easy, but waiting to invest when itโ€™s convenient isn't the best option. Donโ€™t fall into the โ€œI need a lot to startโ€ trap. Instead, start investing with whatever you can afford today because itโ€™s going to be worth more tomorrow.
Read 6 tweets
20 Feb 20
7 steps to get out of debt.
-By Tracie B. Threadford

-An OVERWOOD Thread.

1. Make the commitment.

Make the commitment to become debt-free as soon as possible.

Everything starts with a commitment. A firm decision to make truly important changes. It takes a lot of discipline and may require a lifestyle change but YOU CAN DO IT.
2. Itemize your debts.

Create a list of all your debts, balances, interest rates and minimum payments.

Calculate your total indebtedness so that you can have a true picture of the situation, then start paying it back starting with the ones with the highest interest rate.
Read 9 tweets
11 Feb 20
10 money questions to ask before you say "I do".

-An OVERWOOD Thread.
1. How much money do we need to live comfortably? Who is responsible for what portion?

2. Are our combined salaries enough to cover all our living expenses without taking debts or dipping into savings?

3. What debt are we bringing into the relationship? Who is expected to pay?
4. What is our ultimate financial goal regarding annual income and when do we anticipate achieving it?

5. How much money have we saved and invested elsewhere?
Read 5 tweets
3 Feb 20
8 keys to financial freedom.
- by Robert Kiyosaki.

- An OVERWOOD Thread.

1. Accept full responsibility.

To secure your financial future, you must completely accept responsibility for your financial decisions and understand you control your future.

2. Control your spending.

Track your expenses and carefully consider every purchase before you make them. You'll begin your journey towards financial freedom only after you learn to manage your expenses.

Read 9 tweets
14 Jan 20
7 baby steps to building wealth.
- by Dave Ramsey

-An OVERWOOD Thread.
1. Save for your starter emergency fund.

There are so many unexpected life events that can happen and if you do not plan for them, they could be catastrophic. Emergency funds cover unplanned life events, so save enough money for unforeseen circumstances.
2. Pay off all debts.

List all your debts in order from the smallest to the largest, and pay them off one after the other.
Read 9 tweets
2 Jan 20
7 ways to make 2020 better than 2019.

1. Learn.
Invest in yourself by learning something new each day. Get an advanced degree, get a certification; it will surely open doors that were once shut against you.
2. Save.
What will you do if you have an emergency but donโ€™t have the funds to handle it? Itโ€™s difficult to handle emergencies unless you actively save a significant portion of your income.
Vacations will come and go. Styles and trends will change and fade. Avoid spending a disproportionate portion of your income on ephemeral things like fashion, drinks, and vacations. Make a conscious decision to save in 2020.
Read 7 tweets