Steer Clear of Bad Debts …live within your means

bad debts

Nobody wants to deal with bad debts, but unfortunately, it is a very common phenomenon. You’d be surprised to find out how many people you know struggle to manage their bad debts but with a change in attitude and the right strategies in place, a debt-free lifestyle is achievable.

Make up your mind to stay out of debt: Many people fall into debt because they spend above and beyond their means, living from salary to salary with barely enough to pay the bills. They can’t afford to pay for hang outs on Fridays, the new clothes that go with it, or the movie after. Yet, they continue to spend towards these outings every weekend.

The honest, painful truth is that if you don’t have the money for these things, you should not be doing them. Learning to be satisfied with your limitations is difficult but it is the critical first step to achieving a debt-free life.

Lay out your financial map: Understand exactly how much you make; your net income preferably. Understand how much it costs to run your life. Write down every expense and see where your money is going. List your debts from smallest to biggest, and attack the smallest ones first while making minimum payments on the rest. Avoid consolidating loans and similar methods of getting out of debt.

Keep your lifestyle in check: Don’t go on a spending spree because you got a new job. Look for ways to earn extra money and pay pf any existing debts you may have.

Once you learn to live within your means and have your debt under control, life will be much easier, and hopefully you’ll never return to the dreadful waters of too much debt.

“Debt is like any other trap, easy enough to get into but hard to get out of” – Henry Wheeler Shaw

Stay tuned on this blog for more tips.

The post Steer Clear of Bad Debts …live within your means appeared first on Realising Ambitions.

Source: Blog

So You’ve Finished NYSC … What Next?

NYSC

Like most NYSC corpers, you probably don’t know where to start but that’s okay, we’ve got some useful tips on how to boost your chances of getting that great job!

You Need A Great CV: Employers go through a lot of CVs so yours will need to stand out.  Choose a template that is organized and easy to read. It is also important to tailor your CV to match the job you are seeking by including any relevant experience and extra curricular activities. Please don’t copy and paste from the internet. Employers will know!

Search In The Right Places: Google is your friend! There are so many recruitment sites online, but don’t put your eggs in just one basket (no matter how big it may be). It usually helps to know exactly the career path you want to take. This way, your applications can be specific and heartfelt. Be honest with yourself. Employers can tell when you just want a quick salary rather than a job for the long term.

Network: We all joke about how you have to have connections to get anywhere in Nigeria  and frankly speaking, it is true. It’s not necessarily about “having connections’’, most times it’s about having people that can vouch for your work or someone that knows of an opening somewhere and refers you. Either way, it’s nice to have firsthand information about opportunities and that comes from knowing people. Your network is your greatest asset at this point, so don’t be afraid to use it by asking people you know for help.

Think Outside The Box: Like we said earlier, know what you want. Don’t forget that there are other opportunities outside the walls of a corporate organization. Some of us were born to be entrepreneurs, diplomats, entertainers etc. and sometimes your business idea may be so good that you can get funding for it. So think big and start small and in no time, you might just be the one collecting CVs instead of sending yours out.  Good luck!

For more “post NYSC ” career advice, follow us on social media @armengage. Also, when you get that job, sign up for a pension plan.

The post So You’ve Finished NYSC … What Next? appeared first on Realising Ambitions.

Source: Realising Ambitions

Nigeria Strategy Report: See H2 2017 Outlook

Nigeria Strategy Report – After bullish run, portfolio flows to EM look set to moderate.

In today’s cut-out of our core strategy document – The Nigeria Strategy Report, we review developments pertaining to the direction of FPI flows across developed and emerging markets. In addition to delineating the drivers of portfolio flows over H1 17, this section presents our outlook on drivers of FPI flows over the rest of the year.

According to the Institute of International Finance (IIF), net portfolio flows sustained its positive trend for the seventh consecutive month in June 2017, with combined flows of $121 billion over H1 17 being five-fold higher YoY. The strong capital flows emerged despite three rate hikes in the US and political worries in Britain, as investors cheered the strong economic picture across Emerging markets. Against the backdrop of improved fundamentals, which lessened default risk, foreign demand for local denominated fixed income instruments also tracked higher.

Across the various regions, EM Asia witnessed improved portfolio inflow following investors reassessment of India’s growth prospect while portfolio outflows from China reduced against the backdrop of better than expected economic growth, monetary tightening and capital control curbs implemented in 2016. Over in Latin America, capital flows continued to exit the Brazilian economy (January to May 17: -$1.8 billion) against the backdrop of lingering economic recession , lower interest rate and rising political instability. Emerging Market Europe witnessed higher portfolio inflows (+80% QoQ to $54 billion) in Q1 17 largely reflecting favourable economic picture across member countries. Over in the Middle East and North African (MENA) region, Egypt concluded its largest public bond issuance, a multi tranche bond of $4 billion, in January and an additional $3 billion in May 2017.

After two years of reticence, foreign investors’ appetite for Sub-Sahara Africa’s (SSA) assets appear to have improved following the upswing in commodity prices. The rebound is expected to bolster economic recovery, narrow the widening trade deficit and by extension stabilise the frail currencies in the region. Largely reflecting these improved fundamentals, Eurobond issuances across SSA rebounded strongly (+133% YoY to $3.5 billion) over H1 17 with Cote D’Ivoire, Nigeria and Senegal’s offer been oversubscribed by 4x, 8x  and 8x times respectively.

Going into the second half of the year, the demand for EM equities is expected to remain strong amidst expectation of improving growth prospects. However, the outlook for capital flows to EM debt is less sanguine. The expected slowdown in FPI flows to EM debt instrument is set against the backdrop of anticipated decline in commodity prices, which should increase the vulnerabilities of resource-rich countries, as well as an increasingly divergent outlook on global monetary policy.

On balance, we expect the impact of hawkish monetary policy outlook in the US as well as the UK, aided by the rising spate of political uncertainties across the various regions, to moderate growth induced rise in portfolio flows to EM markets.

Read detailed report here

Nigeria Economic Update for the month of June 2017

In this Economic Update report suggests that debt service is likely to exceed government’s target for the second year running.

Budget 2017: Higher financing to trump revenue gain:

Acting President, Yemi Osinbajo, signed the 2017 budget into law on the 19th of June. The budget tagged ‘Budget of Recovery and Growth’ proposed a 23% YoY expansion in aggregate expenditure to N7.44trillion split into: non-debt recurrent expenditure (N2.99trillion), capital expenditure (N2.17trillion) and debt service (N1.84trillion) with N434.41billion as allocation to Statutory Transfers and N177.46billion for Sinking Fund from maturing bonds. Given our expectation for crude production and our revised crude price forecast, we estimate FG’s share of oil revenue at N1.9trillion. The foregoing, combined with non-oil revenue estimate of N1.6trillion suggest an FGN retained revenue of N3.5trillion (31% lower than in the proposed budget). Also, the continued reliance on more expensive local borrowing suggests that debt service is likely to exceed government’s target for the second year running. Overall, we estimate a fiscal deficit of N3.9trillion (N1.6trillion higher than proposed).

 

Naira Renaissance, short-term outlook remains stable:

Extending the gains from the turn of the year, the naira appreciated 2.3% MoM to N366/$ at the parallel market in June. The currency appreciation continues to reflect improved liquidity at the currency market stemming from sustained FX sales by the CBN (June 2017: $1.6billion based on our estimate) and sustained influx of portfolio flows. In particular, CBN’s directive at the start of the month for Deposit Monetary Banks (DMBs) to trade FX positions among each other without seeking its prior approval as was previously required, boosted liquidity with FX turnover at the IEW surging 38% MoM to $1.8 billion in June. Overall, reflecting increased dollar sales, the once scary premium between the parallel and interbank (70% in February 2017) has contracted to a more reasonable reading of 20% at the end of H1 17.

 

Sustained tightening and increased borrowing guides to elevated yield:

Similar to the prior month, the naira yield curve expanded 7bps MoM to 18.28% as a surge in Treasury Bill rates (+21bps MoM to 20.47%) more than offset modest declines at the long end of the curve (-6bps MoM to 16.09). Given improved system liquidity, we believe yield expansion at the short end of the curve reflected reduction in OMO clearing rates which touched 17.9% in the period to drive a shift in sentiment towards bond instruments.  At the long end of the curve, mean marginal clearing rates declined 10bps MoM to 16.19% at the June auction. Pertinently, given FG’s posture on lowering yields at the auction even as successful diaspora issuance leaves scope for restrained domestic borrowing as the DMO cut back on its planned borrowing (-29% to N99billion).

Read more on our economic update here

Economic Update: June 2017

In this Economic Update report suggests that debt service is likely to exceed government’s target for the second year running.

Budget 2017: Higher financing to trump revenue gain:

Acting President, Yemi Osinbajo, signed the 2017 budget into law on the 19th of June. The budget tagged ‘Budget of Recovery and Growth’ proposed a 23% YoY expansion in aggregate expenditure to N7.44trillion split into: non-debt recurrent expenditure (N2.99trillion), capital expenditure (N2.17trillion) and debt service (N1.84trillion) with N434.41billion as allocation to Statutory Transfers and N177.46billion for Sinking Fund from maturing bonds. Given our expectation for crude production and our revised crude price forecast, we estimate FG’s share of oil revenue at N1.9trillion. The foregoing, combined with non-oil revenue estimate of N1.6trillion suggest an FGN retained revenue of N3.5trillion (31% lower than in the proposed budget). Also, the continued reliance on more expensive local borrowing suggests that debt service is likely to exceed government’s target for the second year running. Overall, we estimate a fiscal deficit of N3.9trillion (N1.6trillion higher than proposed).

 

Naira Renaissance, short-term outlook remains stable:

Extending the gains from the turn of the year, the naira appreciated 2.3% MoM to N366/$ at the parallel market in June. The currency appreciation continues to reflect improved liquidity at the currency market stemming from sustained FX sales by the CBN (June 2017: $1.6billion based on our estimate) and sustained influx of portfolio flows. In particular, CBN’s directive at the start of the month for Deposit Monetary Banks (DMBs) to trade FX positions among each other without seeking its prior approval as was previously required, boosted liquidity with FX turnover at the IEW surging 38% MoM to $1.8 billion in June. Overall, reflecting increased dollar sales, the once scary premium between the parallel and interbank (70% in February 2017) has contracted to a more reasonable reading of 20% at the end of H1 17.

 

Sustained tightening and increased borrowing guides to elevated yield:

Similar to the prior month, the naira yield curve expanded 7bps MoM to 18.28% as a surge in Treasury Bill rates (+21bps MoM to 20.47%) more than offset modest declines at the long end of the curve (-6bps MoM to 16.09). Given improved system liquidity, we believe yield expansion at the short end of the curve reflected reduction in OMO clearing rates which touched 17.9% in the period to drive a shift in sentiment towards bond instruments.  At the long end of the curve, mean marginal clearing rates declined 10bps MoM to 16.19% at the June auction. Pertinently, given FG’s posture on lowering yields at the auction even as successful diaspora issuance leaves scope for restrained domestic borrowing as the DMO cut back on its planned borrowing (-29% to N99billion).

Read more on our economic update here

The post Economic Update: June 2017 appeared first on Realising Ambitions.

Source: Blog

Fun holiday destinations to visit on a budget

The Long holiday is here! Wondering how to wrap it up in style without delving too deep into your pocket? Visit any of these fun countries to experience true beauty and serenity. Not only is it more affordable than your usual holiday destinations, it does not require excessive planning and will offer you and your family a new experience. We also have local destinations which you can discover.

 

Maldives

It is a South Asian island country, located in the Indian Ocean, situated in the Arabian Sea. It is one of the world’s most geographically dispersed countries, as well as the smallest Asian country by both land area and population, with a little over 393,500 inhabitants.

The number of resorts increased from 2 to 92 between 1972 and 2007. As of 2007, over 8,380,000 tourists had visited Maldives and they do not need to apply for a visa pre-arrival, regardless of their country of origin, provided they have a valid passport, proof of onward travel, and the money to be self-sufficient.


Kenya


Kenya has a warm and humid tropical climate on its Indian Ocean coastline. The climate is cooler in the savannah grasslands around the capital city, Nairobi, and especially closer to Mount Kenya, which has snow permanently on its peaks.

Thanks to its diverse climate and geography, expansive wildlife reserves and national parks such as the East and West Tsavo National Park, Amboseli National Park, Maasai Mara, Lake Nakuru National Park, Aberdares National Park and white sand beaches at the Coastal region, Kenya is home to the modern safari and has several world heritage sites such as Lamu and numerous beaches, including in Diani, Bamburi and Kilifi, where international yachting competitions are held every year.


Barbados

It is a sovereign island country in the Lesser Antilles, in the Caribbean region of North America.

Despite being classified as an Atlantic island, Barbados is considered to be a part of the Caribbean, where it is ranked as one of the leading holiday destinations. Forty percent of the tourists come from the UK, with the US and Canada making up the next large groups of visitors to the island.


Seychelles

Seychelles, is an archipelago and country in the Indian Ocean. The 115-island country, whose capital is Victoria, lies 1,500 kilometres east of mainland East Africa. Seychelles is famous for having some of the best beaches in the world, pristine and uncrowded. Some are framed by age-old granite boulders and others offer powder-soft sands, turquoiseclear waters and sublime opportunities for swimming, snorkeling and pure relaxation.

There are great opportunities for island-hopping between the 16 islands that currently offer accommodation. These range from sumptuous 5-star resorts to rustic island lodges and cozy beachside bungalows. There are also national monuments, beautiful Creole houses, artists’ studios, national reserves and marine parks, as well as breathtaking natural wonders above and beneath the waves.


Tanzania

It is a country in Eastern Africa within the African Great Lakes region. Parts of the country are in Southern Africa. Mount Kilimanjaro, Africa’s highest mountain, is in northeastern Tanzania. Three of Africa’s Great Lakes are partly within Tanzania. To the north and west lie Lake Victoria, Africa’s largest lake, and Lake Tanganyika, the continent’s deepest lake, known for its unique species of fish.  The Kalambo water falls in the southwestern region of Rukwa are the second highest uninterrupted fall in Africa and are located near the southeastern shore of Lake Tanganyika on the border with Zambia. The Menai Bay Conservation Area is Zanzibar’s largest marine protected area.

The vast majority of tourists visit Zanzibar or a “northern circuit” of Serengeti National Park, the Ngorongoro Conservation Area (NCA), Tarangire National Park, Lake Manyara National Park, and Mount Kilimanjaro.


Mauritius

This is an island nation in the Indian Ocean about 2,000 kilometres off the southeast coast of the African continent. Mauritius is known for its varied flora and fauna, with many species endemic to the island.

Mauritius is one of the major holiday destinations, ranking 3rd in the region and 56th globally. It enjoys a tropical climate with clear warm sea waters, beaches, tropical fauna and flora complemented by a multi-ethnic and cultural population.


Federated States of Micronesia

The Federated States of Micronesia is a country in the northwestern Pacific Ocean. It is composed of four major island groups totalling 607 islands that lie just north of the equator about three-quarters of the way from Hawaii to Indonesia, to the north of Papua New Guinea and the Solomon Islands and to the south of the Marshall Islands, the Northern Mariana Islands and Guam.

The Federated States of Micronesia is generally one of the safest countries to visit.


Dominica

It is a Caribbean island country between the Caribbean Sea and the North Atlantic Ocean, about one-half of the way from Puerto Rico to Trinidad and Tobago. It is often known as “The Nature Island of the Caribbean” due to its spectacular, lush, and varied flora and fauna, which are protected by an extensive natural park system

Dominica’s mountains, rainforests, freshwater lakes, hot springs, waterfalls, and diving spots make it an attractive eco-tourism destination. Cruise ship stopovers have increased following the development of modern docking and waterfront facilities in Roseau, the capital.


Fiji

It is an island country in Melanesia in the South Pacific Ocean about 1,100 nautical miles northeast of New Zealand’s North Island.

Fiji has several popular tourism destinations. The Botanical Gardens of Thursten in Suva, Sigatoka Sand Dunes, and Colo-I-Suva Forest Park are three options on the mainland. A major attraction on the outer islands is scuba diving. Fiji’s main attractions to tourists are primarily white sandy beaches and aesthetically pleasing islands with all-year-round tropical weather. In general, Fiji is mid-range priced for holiday destinations with most of the accommodations in this range. More budget resorts are being opened in remote areas, which will provide more tourism opportunities.

 

In times like this, the key is to invest more than you spend such that whether the economy picks up or not, you will always have something to fall back on. Talk to one of our expert financial advisors today for profession financial advice on how to grow your wealth in the new year, recession or not.

 

The post Fun holiday destinations to visit on a budget appeared first on Realising Ambitions.

Source: Realising Ambitions

Luxury on a budget: Tourist Attractions in Nigeria

Take your family on a vacation to any of the amazing tourist attractions in Nigeria. Not only is it more affordable than your usual holiday destinations, it requires less planning and will offer you and your family a completely new experience.

See some suggested destinations below.

Epe Resort and Spa

It is situated at the end of the Epe-Lekki Express Way after having left the busy city of Lagos. This luxurious retreat offers sanctuary to those who wish to rest their weary minds and rejuvenate their spirits.

Lakowe Lakes Golf and Country estate

Tourist Attractions

The Lakowe Lakes development occupies a land area of roughly 308 hectares, and overlooks a 55 hectare man-made lake. The estate comprises a pristine 18-hole golf course and clubhouse with sports facilities such as a swimming pool, squash, tennis and badminton courts.

Tinapa resort

The Tinapa Free Zone & Resort has facilities for retail and wholesale activities as well as leisure and entertainment. For consumers, the resort has about 80,000 square metres (860,000 sq ft) of lettable space for retail and wholesale made up of four emporiums of 10,000 square metres (110,000 sq ft) each and smaller shops, warehouses, and so on. An entertainment strip contains a casino, digital cinema, children’s arcade, restaurants, a mini amphitheater, a night club and pubs.

Kamp Ikare

Kamp Ikare is a beach resort situated on a stretch of Lagos coast near Ikare village and it’s only accessible by boat. The resort is a main communal beach house, 6 duplex cabins positioned around a swimming pool and just meters from the sea. Kamp Ikare is beach resort that offers home-away-from-home facilities and services that combines the rustic environment around it with a Miami-style lounge area creating the most simple, no fuss environment for your relaxation.

Abraka Turf and Country Club

Located in the exotic region of Nigeria’s Delta, Abraka Turf and Country Club has taken on a leading role in the nation’s leisure and catering industry, and prides itself on its ability to deliver exquisite services. The resort includes perfect villas, chalets, and caters to high-end clientelle that includes families, vacation seekers, campers, as well as corporate groups.

Ikogosi warm springs

A tourist attraction located at Ikogosi, a town in Ekiti State, southwestern Nigeria. Flowing abreast the warm spring is another cold spring which meets the warm spring at a confluence, each maintaining its thermal properties. These attributes make the spring a tourist attraction in Nigeria.

Yankari game reserve

It’s location in the heartland of the West African savanna makes it a unique way for tourists and holidaymakers to watch wildlife in its natural habitat. Yankari was originally created as a game reserve in 1956, but later designated Nigeria’s biggest national park in 1991. It is the most popular destination for tourists in Nigeria and, as such, plays a crucial role in the deve.

Obudu Cattle Ranch

The resort is found on the Obudu Plateau, close to the Cameroon border in the northeastern part of Cross River State. It is about 30 minutes drive from Obudu town and is about a 332 kilometres (206 mi) drive from Calabar, the Cross River State capital. Charter air service is available to the Bebi Airport which lies between the village of Obudu and the resort.

Owu water falls

Owu Waterfalls is located at Owu Isin local government, Kwara. It is the highest and most spectacular natural waterfall in West Africa. With its Ambience, cool environs and lush tributes to nature, everyone is invited for a dip.

Oguta Lake Holiday Complex

Oguta lake with its clear blue color, non salty taste is the perfect holiday destination for splashing around, boat cruising and many more. The second largest lake in Nigeria welcomes fun seekers, tourists and adventure lovers.

In times like this, the key is to invest more than you spend such that whether the economy picks up or not, you will always have something to fall back on. Talk to one of our expert financial advisors today for profession financial advice on how to grow your wealth in the new year, recession or not.

The post Luxury on a budget: Tourist Attractions in Nigeria appeared first on Realising Ambitions.

Source: Realising Ambitions

Nigerian Inflation – food pressures dictate CPI tone

Inflation

Nigeria’s inflation decelerated for the fourth consecutive month in May 2017 to 16.25% YoY (Year on Year) as core inflation dropped sharply in line with our earlier surmise relating to pass-through from high base effect from elevated fuel prices in 2016. However, food remained at an elevated 19.3% YoY in the review month as structural setbacks, such as higher transportation cost, offset potential gains from an appreciating naira.

Going forward, the Ramadan-associated strong demand for cereals should leave pressures on cereal prices largely intact in June. Thus, aided by still elevated transportation cost which have also limited gains from an appreciating naira, we remain bearish on food inflation despite ongoing green harvest in the Southern part of the country. That said, the cumulative benefits of sustained FX policy gains appear to have finally caught up with energy prices given the subdued MoM(Month on Month) growth in prices of PMS and cooking gas as well as the decline in diesel prices in recent readings. We expect this to lead to a moderation in monthly core inflation reading in June—albeit expected to have a relatively pale influence on YoY reading compared to that from the just ended high base effect from 2016. Overall, our expectations across the core and food inflation buckets should translate to an unchanged headline reading of 16.25% YoY in June 2017.

See full report here.

The post Nigerian Inflation – food pressures dictate CPI tone appeared first on Realising Ambitions.

Source: Blog

Economic Update: May 2017

In this Economic Update, we discuss recent developments and our expectation for same over the near term.

Nigeria’s equity market received a kiss of life following the introduction of a market-driven FX window called the “Investors and Exporters FX window”. Foreign investors once shy of naira assets returned while their domestic counterparts followed suit, with the knockdown effect driving monthly return on the Nigerian bourse to an eight year high in May. The Q1 17 GDP was released over the month and it indicated an extension of the recessionary trend to a fifth consecutive quarter. Nonetheless, the underlying picture showed signs of recovery given the rebound in non-oil GDP as well as slower contraction in oil output.

Against this backdrop as well as the still elevated inflation rate, which printed at 17.2% YoY in April, the apex bank maintained its hawkish policy in a bid to ensure stability in the currency market. Unsurprisingly, the liquidity sapping effect of sustained OMO issuances and elevated FX sales drove the naira yield curve higher. Overall, whilst CBN’s FX policies had been a strain on economic activities in the past, the recent introduction of the IEW appears to have brought the economy back on course.

Read more on our economic update here

The post Economic Update: May 2017 appeared first on Realising Ambitions.

Source: Blog

Economic Update: May 2017

In this Economic Update, we discuss recent developments and our expectation for same over the near term.

Nigeria’s equity market received a kiss of life following the introduction of a market-driven FX window called the “Investors and Exporters FX window”. Foreign investors once shy of naira assets returned while their domestic counterparts followed suit, with the knockdown effect driving monthly return on the Nigerian bourse to an eight year high in May. The Q1 17 GDP was released over the month and it indicated an extension of the recessionary trend to a fifth consecutive quarter. Nonetheless, the underlying picture showed signs of recovery given the rebound in non-oil GDP as well as slower contraction in oil output.

Against this backdrop as well as the still elevated inflation rate, which printed at 17.2% YoY in April, the apex bank maintained its hawkish policy in a bid to ensure stability in the currency market. Unsurprisingly, the liquidity sapping effect of sustained OMO issuances and elevated FX sales drove the naira yield curve higher. Overall, whilst CBN’s FX policies had been a strain on economic activities in the past, the recent introduction of the IEW appears to have brought the economy back on course.

Read more on our economic update here