Purposeful Investing!!!

Happy New Year!!!

I know many of us have discussed our 2024 strategy and we have made new resolutions and I believe one of the areas many people make resolutions is on the subject of finance and investment.

Interestingly many will start with so much determination only to end up losing their fire and zeal 3 months into the year.

The reason for this is that many just invest without a solid purpose underlying the decision behind their investing and financial lifestyle.

Do you know that it’s best to make investing an habit rather than an event. i.e. Don’t always wait till you have a lump sum before you start investing. You can start with as low as N1k (One Thousand Naira).

The key word is just be consistent and let purpose drive you.

It is also in your very best interest to have a purpose for every investment you are making.

So you want to ask yourself what are your financial goals in the short term (0 to 1year), medium (1 to 5years) and long term (5 to 30years).

Its often said that when purpose isn’t known abuse is inevitable….

Listen to me , if money comes into your hands without meeting a plan or better still a purpose in your head, it won’t last in your hands.

It’s possible to mis-spend your funds on wrong priorities or even mis-spend on unnecessary and impulsive expenditures because the funds are in your bank account or even investment accounts without a purpose .

Purposeful investing will help streamline your risk appetite, expected returns and Investment objectives, while putting your investment goals in perspective…

So, define these for yourself. Do not go into any investment without a Purpose.

it is the Purpose that keeps you motivated the most.

Purpose encourages discipline.

Next week I will share with you 3 major purpose for investing.

Cheers to a greater 2024.

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