If I was given $19000 (#30000000) to spend in a week what would I do.
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In our current economy, if I was giving the sum of 30 million naira to spend in a week, I do not see that as a problem at all because there are lots of ways to wisely and effectively use the funds across different categories. This question is a rather tough one but one has to be careful in making the decisions.
For instance, someone might want to invest all the money into building a house but somehow I would say that it is an unwise decision because building a solid and durable apartment in Nigeria these days could cost more than 30 million naira because of the inflation in prices of cement, sand, and other building materials. Hence, it is wise that you invest the money in different platforms that would yield interest and passive incomes that can along the line be used to cater for the other projects you have in mind.
The first thing I will do if I come across such money to spend in a week would be to offset my debt and take care of my current needs. Allocatiunderwearson of the money like five million naira would help to cater for my savings and emergencies that cthe come up.
In Nigeria, we have different platforms where one can save up money and also yield interest on them unlike just leaving your money in the bank where deductions would be made monthly or yearly. Some of these banks where you can save without obstruction or illegal deductions include Opay where you can use the safebox option to save money and earn in interest, we also have kuda, piggyvest and so on.
The second thing I would do with the money is to invest in buying of lands, as we all know, owning a landed property is one commoditynjunction eciates every time this could also be related to real estate investment. One can also build mini flats that can be rented out as short let's, airbnb and so on. Last year, the hospitality industry raked in billions of naira from taxes made from such properties like hotels, guest house, mini flats, clubs, airbnb and so on. Hence, buildings especially in open places that are easily accessible can yield consistent passive incomes. But if this is too much they are platforms where you can invest in real estate Trust or syndicate platforms like Optimus, afriinvestor 2.0, Rise vest and so on.
My third investment may sound weird but as a rising content creator in the social media space, I believe that purchasing this items would go a long way to make me consistent at what I do and put out quality contents. This investment is the buying of the iPhone 16 pro Max and this is so because with the iPhone 16 you do not need the bulky cameras to produce content for platforms like YouTube, Facebook, tiktok and so on.
Yesterday, I was watching a YouTuber's vlog on how she is currently making wavess by just using the iPhone 14 Pro Max. when she wanted to start content creation it was difficult because she thought she needed the expensive Canon cameras to be able to put something out there, when you check out her videos all she uses is natural light and has smartphone coupled with the Cinematic feature. The videos are great and very clear that you would never believe a phone did that. Also my investment will go in the purchase of items such as a phone tripod stand, a wireless microphone, ring light, LED light and so on. With these investments, when I put out quality content especially on Facebook and YouTube I would get paid passively and I would make my money back.
Again, as the Giver that I am, I would definitely give back to my Society by donating to charity and support people who are close to me that needs support in their businesses or for their upkeep. This means that I can donate to local non-governmental organizations, schools, orphanages and also sponsor community development like boreholes or electricity supply.
With the bearish trends going on in the crypto space, it is advisable to hold some crypto coins that would be bullish in the future. I would definitely be investing in cryptocurrency. As we are all aware, are some crypto coins that when you do your own research you would see that they are going to be bullish in the future just like how Bitcoin ethereum solana and coal started some years back. Hence we are all advised to invest in coins like Ripple, pepe, floki, pepe, Sui, doge and so on. Holding these particular coins for a long period of time can yield profit in the future. All these can be done through the binance platform, bybit, Kucoin, mexc, Bitget etc.
Again, one important investment that aNigerian can invest in and make money passively is by investing in stocks or mutual funds. These has become a serious financial investment plan for Nigerians as there are platforms that offer these investments even with small capital and it is often sure that this investment do not tamper with your capital and you can get 10 to 15% interest at the end of the year.
In conclusion, as a lady I would love to go for shopping and buy new stuffs for myself. I mean if I can have 30 million naira I should be able to buy new stuffs like clothes, underwears, bags, shoes, hairs etc, trust me these would not even be up to a million naira. In essence, in the space of one week I would definitely achieve all that I have mentioned above because most of them requires using your smartphone and laptop to carry out days investment. except the buying of lands, traveling and so on. Even my investment in agriculture, stocks bonds, treasury bills and so on can be done on your laptop or your phone.
promptThis is a part of my entry for the #Januaryinleo as organized by the @leogrowth team with great initiative that members of Hive you can participate in this prompt and tackle them as you deem fit. In conjunction with @hivenaija community.
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Nice i must say you really thought it out well
A thoughtfuld plan, I must admit.
Debt repayment ad saving shows a high sense of responsibility, while investing in all of those sounds more like a future plan, then about giving back to the society,that's cool, I do follow all these, and you also treating yourself well, very necessary. smiles.
👏👏👏👏👏👏👏
✅tbh This is really a great idea
You totally read my mind on the content creation stuff, getting quality camera, lights and all is the way to go and like we know content creation is making the waves for alot of people now.