Financial Education- the missing link

Financial Education- the missing link

Education, in every sense of the word begins at home. Home is where we learn our first words, it is where we find our identity, it should also be where we learn the rudiments of managing and growing money. While our children might learn high level accounting in the walls of Ivy league schools or discover the tenets of business management as graduate trainees, it might be detrimental to wait till then to introduce them to the realities of financial responsibility. Especially if we desire to successfully prepare them for the legacy we are building for them.

Financial literacy refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with their financial resources. It is hence not enough to provide the resources, we must also teach our offspring to be masters of money. Our forefathers got it right to some extent, they taught us to save in the clay or wooden piggy banks we grew to cherish, we must however take it a step further. Not only must our children learn to save, they must learn to invest. Gone are the days when a good job or business and hard work was enough to cater to our needs. The successful ones today are those who have learnt not just to work to make money, but to make money work for them.

While it is essential that we provide for our children as much as we can, it is also important that they learn to grow what they have into more.

Financial goals..

It begins with setting financial goals. Our children need to learn the discipline of setting targets and meeting them. Together, pinpoint an item or experience they desire, evaluate its cost, and agree on a timeframe to raise the amount needed. With the help of investment calculators, you can figure exactly how much must be set aside monthly or weekly and make a commitment towards it. This will give the child a sense of purpose.

Bank vs Mutual Fund..

Of course, financial freedom begins with the discipline of consistent saving. What makes the big difference is how the saving is done. While your children will learn that they can preserve their money in a bank, it is even more exciting to watch their money grow in a mutual fund. Mutual funds like the ARM Money Market Fund offer competitive interest rates without any risk to the capital. You can open a Money Market Fund investment for your child with as little as 5000 Naira. From the comfort of his or her phone, your child can top up that investment with the agreed sum to be saved or even the extra change left from his/her weekly allowance. Together you can access their dashboard on the ARM Wealth planner and view the amount invested so far and accrued interests. When the target is met, the funds can be redeemed online from the same Wealth Planner portal.

Long term investments…

While mutual funds can cater to short term financial goals, children need to learn the wisdom of identifying and maximising investment opportunities. After mastering the art of consistent investing, they must learn not to expend the accumulated resources on immediate wants but to tie down funds in instruments that can become assets. From the comfort of your home, you can help your child purchase shares, stocks, or even bonds from the ARM Stocktrade portal. With the avalanche of research and market insight available on the portal, you can teach him/her to recognise opportunities and trade successfully in the stock market. Especially at special periods like birthdays and celebratory seasons when children receive financial windfall, such monies can be invested in financial instruments and your child can monitor the growth of their investment online. This supersedes merely buying shares in their name.

Once they have mastered the discipline of consistent investment early in life, say from their teenage years, they will find it extremely easy to grow their finances as they advance in life. A child educated financially will understand the need to open a Pensions account from his very first job. He will also be able to understand the many benefits of Insurance and estate planning, thus preparing for a life of financial freedom and success in every facet of life. Financial education is indeed the link between a dependent child and an independent financially free adult.

Investment calculators as well as explicit information regarding mutual funds, stocks, bonds, estate planning, pensions, and insurance are available on the ARM WebShop. Visit www.arminvestmentcenter.com to explore the possibilities.

 

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More than just “Baby Blues”

More than just “Baby Blues”

Jeff stared at Mabel from behind the curtains. The baby had been crying for a while but Mabel sat there looking into space unperturbed.

Scared, confused and angry, Jeff stormed into the room and snapped at her “Babe, can’t you see David has been crying for too long?” Mabel looked at him with sad eyes, picked the baby and shoved him into Jeff’s arms before walking away.

David was born barely one week earlier and Mabel had never been the same since her return from the hospital. For someone that couldn’t wait for the birth of her baby, Mabel’s attitude scared Jeff. He felt like she hated her own child. He felt like his wife was possessed by some demon.

But what Jeff didn’t know was that his wife Mabel suffered from Post-Partum Depression and needed help and support.

Post-Partum depression (PPD) is a type of mood disorder associated with childbirth and studies show that 1 in 7 women experience this disorder. It also doesn’t just affect first time mums.

Along with postpartum depression, some women experience a rare and serious form of mental illness known as Post-partum psychosis. When a woman gets to this extent, she can cause grievous harm to herself and her baby if left unchecked.

As real as this disorder is, a lot of women have been called names and worse in Nigeria for feeling this way after they have had a baby. But this feeling is beyond their control and they need immediate help.

Husbands are in the best position to offer support and seek help for their wife if she has this disorder. But first, you need to know how to detect Post-partum depression.

Tune in to ARM Life Living Benefits show today on Smooth 98.1FM by 6.40pm (Lagos), 6.45pm (Abuja) and 6.00pm (PortHarcourt) to learn all the symptoms of Post-partum depression and what to do when you spot them.

There is also a gift voucher up for grabs at the end of the show. You don’t want to miss it!

 

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How can I turn my FOMO into JOMO?

How can I turn my FOMO into JOMO?

Last month, we talked about F.O.M.O (Fear of missing out) and how to know if this fear is consuming you. This month, we’ll guide you with tips to channel your F.O.M.O into J.O.M.O (Joy of missing out).

Here are a few tips on how to harness your inner J.O.M.O

 

  1. Be grateful. Learn to value what you already have. Take time out to appreciate the people and things around you; imagine what life would be without them? Being grateful for what you already have leaves you feeling content. You will no longer crave for what others have that you don’t.

 

  1. Social media is not real life. You never really know how someone is feeling behind their tweets or Snapchat stories. Use social media to make real connections with people. Look past all the banter on social media (which are really hilarious by the way) and use social media to do something meaningful.

 

  1. Pick up new habits to distract you from social media. Try investing for instance. I know you’re probably thinking “Finally they’ve gotten to the point where they try and sell me their product” Well the answer is yes and no. Yes, we might be trying to sell our services to you. But no, that isn’t the point. You’d be surprised how much money your money could be making for you. Of course there are other habits you could pick up that would harness your JOMO. But there is nothing as relaxing as making money; and investing offers you a chance to do this easily. You’re able to transition from FOMO which cause you to spend recklessly to JOMO by investing and actually making more money.

 

  1. Find your niche in the social world and focus on that. Try and figure out what fun things you enjoy doing the most and make it the norm to do these things more regularly. For instance, let’s say you enjoy going to the club regularly and your pockets aren’t deep enough to do this as regularly as most “cool people” do. You can pick your favorite places to hang out at and frequent them once in a while. You will look even cooler for being selective and you’re saving money too! Do things because you want to do them and can afford to do them; not because it’s what other people are doing.

Yes we know JOMO sounds a bit weird, but so does FOMO – and it’s in the dictionary! Try saying it a couple more times and it might not sound as bad. You don’t even have to put a name to it. As long as it’s anti-FOMO, you’re good to go. So, the next time you see a post on social media, don’t feel left out; remember that you need to cut your coat according to your cloth! Focus on the positives and not the negatives.

Oh, and don’t forget to pick up investing as a habit.

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5 signs it’s a phishing email

5 signs it’s a phishing email

As the year winds to a close, it is important that safety and security are prioritised, especially as regards activities in the online space. This year witnessed massive retrenchment and an increase in the number of unemployed youths. Idleness, coupled with the ease of internet access and technological know-how makes cyber-crime attractive.

To help you protect yourself from internet fraudsters and information hackers, we have identified five easy pointers that will enable you to recognise phishing emails.

  1. If the attachment looks funny

Look out for the attachment title, if it is not coherent or connected to anything related to you, it is best to leave it unopened. As much as possible, only open attachments from email addresses you are familiar with.

  1. If it contains urgent or threatening language in the subject line

Corporate organisations are usually cautious in their communication. If the subject line appears threatening or demands that you take an action immediately, it could be a phishing email, approach it with caution.

  1. If it is asking for personal information

Banks, Investment companies and other regulated organisations will never request for personal information such as ATM card pin, internet banking code and the likes. If the email is requesting for such sensitive information, it is most likely fraudulent.

  1. If it contains grammatical errors and other mistakes

Corporate organisations value their brand and reputation. Official communication is thus proofread repeatedly before it is sent out. If the email contains blunders, it is probably from a fraudster in the corner of his room.

  1. If it is mandating you to click on a link

While official emails might contain genuine links, the content will most likely be spelt out in the URL. Where a mail mandates that you open a  link with that is wrongly spelt, there is a huge possibility that it is a phishing email.

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Much ado about meetings…

Much ado about meetings…

If you have ever had to work with any number of people, the subject of meetings can’t be strange to you. You have probably had so many meetings today and may still have a number to look forward to. Often, it looks like there is no end and no point to meetings, still attend you must. Meetings can constitute a problem as they essentially waste precious time which could have been invested in actual work.

Tired of endless meetings? These tips by Seth Godin might be just what you need.

Getting serious about your meeting problem

If you’re serious about solving your meeting problem, getting things done and saving time, try this for one week. If it doesn’t work, I’ll be happy to give you a full refund.

  1. Understand that all problems are not the same. So why are your meetings? Does every issue deserve an hour? Why is there a default length?
  2. Schedule meetings in increments of five minutes. Require that the meeting organizer have a truly great reason to need more than four increments of realtime face time.
  3. Require preparation. Give people things to read or do before the meeting, and if they don’t, kick them out.
  4. Remove all the chairs from the conference room. I’m serious.
  5. If someone is more than two minutes later than the last person to the meeting, they have to pay a fine of $10 to the coffee fund.
  6. Bring an egg timer to the meeting. When it goes off, you’re done. Not your fault, it’s the timer’s.
  7. The organizer of the meeting is required to send a short email summary, with action items, to every attendee within ten minutes of the end of the meeting.
  8. Create a public space (either a big piece of poster board or a simple online page) that allows attendees to rate meetings and their organizers on a scale of 1 to 5 in terms of usefulness. Just a simple box where everyone can write a number. Watch what happens.
  9. If you’re not adding value to a meeting, leave. You can always read the summary later.

This is all marketing. It’s a show, one that lets your team know you’re treating meetings differently now.

 

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Back to school tips for your 1 to 10-year-olds

Back to school tips for your 1 to 10-year-olds

Now that the holiday is nearly over and the new school year is about to begin, you need to prepare your little child(ren) especially the first timers psychologically. Understanding each child’s physical and emotional needs will help you respond and prepare them for upcoming transitions such as starting school in a new environment, or resuming school after the holiday.

Here are some tips to emotionally and mentally prepare your child for school resumption:

 

  • Discuss cheerfully with your child about starting school and listen to his/her response to the topic. Do they react eagerly, or with confusion and anxiety? Depending on their reaction, be open to deal with it with affirmation and care.

 

  • Prepare your child to get into the routine of going to bed early and waking up early. This makes it easier for him/her to adapt upon resumption.

 

  • Invite your child to go shopping for school supplies, new clothes, new lunch box or back pack. Involving them creates excitement about the start of school.
  • As your child moves from nursery to primary or from primary to secondary, it is normal to experience anxiety. Be on ground to speak with your child about any worries he/she may have and try to find possible solutions to them.

 

  • Drop off your child on the first day of school. If it’s a new school, decrease anxiety for your child by touring it with him/her, locate classrooms, see new faces and meet the new teacher.

 

  • When children return from school, it is homework and family moment. Ensure this time is utilized properly, by creating specific homework area in the home. Assemble the homework station with necessary supplies like notebooks, pencils, erasers and crayons. Make sure the area is bright and the chair(s) as comfortable as possible.

  • Unless your child went for summer lessons during the holiday, you want to wake their brains up in preparation for the new term. Make brain training a fun prospect by injecting interesting activities such as: book reading, card games and jigsaw puzzles.

 

If your child’s school has provision for extra-curricular activities, now is the time to discuss his/her preference and why. Knowing and concluding beforehand helps you ensure that your child is occupied with an activity that they enjoy after school work and that will impact positively on them.

PS: When you have done all of these, don’t forget to use tools like a children’s education calculator to determine how much you will need for your child’s education this term. Then plan with that in mind.

 

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Source: Blog

It’s all in the mind

It’s all in the mind

“I got up on the wrong side of the bed.”

Have you ever said these words when things do not go well for you on a certain day? You probably have. But do you know that one factor that determines how well your day turns out is how you play it out in your mind? Your mind is the engine room of your body.

Many experts agree that the ability to change your mindset is the single most important factor in the achievement not only of your health, finances, relationships, but any outcome that is important in life.  So, if you seem to be experiencing stagnancy in an area of your life, you might want to monitor your thought pattern regarding that area.

The degree to which you are able to make changes in your life will be determined by the mindset you have. If you can change how you look at things in your mind, you can change your life. Start by making a commitment to monitor your thinking pattern daily. Whenever it starts veering towards negativity, consciously pull yourself out of it. Focus on choosing the mindset you want throughout the day.

Do you need to transform your mindset? Join us on Wednesday by 6.30pm on Smooth 98.1FM as we tackle steps to having a winning mindset. There’s also a gift to be won at the end of the show. You won’t want to miss this!

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Source: Blog

Don’t ask me to trust him!

Don’t ask me to trust him!

Cynthia looked at the wall clock for the umpteenth time, willing time to fly. Barely 15 minutes into the one-hour counselling session, she was exasperated already. Much as she loved her job as a marriage/relationship counsellor, there were those days and those couples capable of making her rethink her career choice. The Gregorys were on the top of that list. How they manage to stay married is nothing short of a miracle. Mrs Gregory disbelieves everything her husband says, certain he has coloured the truth, at best. Mr Gregory was tired of being perpetually labelled a liar. If only his wife would trust him!

Before you label Mrs Gregory an unrepentant doubting Thomas, take a sneak peek into her experience with lying men.

The trail commenced with her father who persistently lied to her mother that he had an active textile business in Lome, Togo. He would go for days and return with goodies for the family. They only realised he was a car smuggler after he lost his life in a gun battle with Customs officials. Her uncle also made empty promises to take care of her and her siblings. She ended up hawking on the streets after the Uncle took away everything her father left behind for them. Kunle, the love of her youth could never be caught telling the truth and Ben, the sales boy she employed when her provision store started to thrive would effortlessly triumph at any lying competition.

To cap it up, Mr Gregory had also lied to her. That one time, when he told her he was off to a business meeting whereas he was actually hanging out with the boys. If not for Pat, his loud-mouthed friend who asked how he was coping with the hang over after last night’s fun, she would never have known the truth about her husband’s whereabouts the previous night. He says he only lied that one time, but who can tell? Who knows what else he has been lying about? Heaven forbids that she trusts a lying man.

Cynthia smiled inwardly, the one hour was almost over. Mrs Gregory had managed to draw her husband into a shouting match with her unmasked disregard for his words, using up all the time. Finally managing to get in a word, Cynthia introduced them to the trust creed. She had come up with a trust creed when she observed that majority of the marriages brought before her fundamentally suffered from lack of trust.

Who can blame them really, trust is one of those things everyone gives sparingly.

Every time someone demands your trust, you weigh them to determine their integrity level. Previous actions and the opinion of other people about them often inform the decision to place or withdraw your Trust.  This explains why people are often wary of committing their estate to an organisation. It is the fear that everything you have gathered over the years will be mishandled or carted away. However, is it not more relaxing to commit your affairs to a tested and trusted organisation with a verifiable track record and strict regulation than to leave it to the hands of fate? Think about it!

Interested in learning about estate planning and how it can benefit you? Click here to schedule an appointment with one of our Trust Advisors.

#TrustUs, let’s think and plan along with you.

Trust

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Source: Blog

5 steps to avoid going broke this Sallah holiday

5 steps to avoid going broke this Sallah holiday

It’s that time of the year again!

It is a few days to Id el Kabir; one of the many holidays we observe in Nigeria. There will be lots of places to visit and loads of spending to do in these 2 days. As usual, it is expected that many may go broke after the enjoyment that comes with the season.

So, we’ve put together some tips to ensure that you enjoy your holidays without paying for it for the rest of the month!

  1. Start with a spending plan: Your goal is to come up with a spending plan that won’t put you in a financial straitjacket. How much can you allocate from your savings or income to make the holidays work? Beginning with that end in mind will help you avoid runaway spending and the ultimate misery it brings. Remember, your spending plan is not a suggestion, it’s a fixed number.

 

  1. Be prepared: What can be worse than going to a restaurant with N5,000 in hand and finding out just one bottled water costs N2,000. There are a number of avenues to find out prices of food and activities before getting to the place. Don’t be blindsided by the cost.

 

  1. Beware of extravagant friends: We all like to catch up with friends during the holiday. Now that you have your spending plan, it is important to know what engagements to ‘miss out on’ or you can simply suggest a cheaper alternative. In our experience, no one likes spending more money than they need to, so it shouldn’t be a hard ask.

 

  1. Beware of leeches: This is a little similar to point 3, except in this case they want to feed off your budget. There’s no need to cut them off completely during this period, but be wise enough not to spend more than budgeted.

 

  1. Stick with your plan. You’ve devised a personal plan to provide maximum enjoyment with minimum stress. So enjoy each aspect to the fullest degree possible.

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Source: Blog

Malaria: A big deal and a killer

Malaria: A big deal and a killer

You feel feverish, cold and have lost appetite for food. You know you’re sick. But you must give a name to this sickness.

So, like a genius, the lightbulb comes up in your head and you conclude it must be Malaria. That disease is so easy to diagnose, you think. And so easy to treat. Without thinking, you take a quick trip to Oga Chinedu’s chemist and ask him for ‘malaria medicine’.

But wait a minute. What do you really know about Malaria?

Did you know that half of the world’s population is at risk of this disease? That’s how big a deal it is. In 2015, there were roughly 212 million Malaria cases and an estimated 429,000 resultant deaths.

Among those at high risk of this disease are pregnant women and children. As always, prevention is better than cure. It is necessary that you understand the risks of this illness and make adequate efforts to prevent it.

According to facts published by the World Health Organisation (WHO), Malaria is the cause of spontaneous abortion, premature delivery, stillbirth, and severe maternal anaemia. This fact sheet also reveals that children under five are particularly prone to infection, illness and death. Scary, right? But hey, facts don’t lie.

How well do you protect yourself and children from Malaria?

Now, don’t just move along believing that Malaria is ‘easy’ to cure. Stop and think about how it weakens your immune system and that of your child(ren). When your immune system is weak, your body is open to other types of infection like typhoid and the likes.

Diseases and death can be reduced by proper diagnosis and treatment of Malaria. Knowledge about these preventive, diagnostic and treatment measures is vital.

Tune in to the ARM Living benefits show this Wednesday on Smooth FM 98.1 from 6.40pm to 6.55pm for an in-depth talk on dealing with Malaria

You don’t want to miss it!

 

 

 

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Source: Blog