Good Morning 😃
How are you doing?
Friday letters are usually dedicated to taking questions from our community. Do you have a question for us? Please feel free to
- send an e-mail to info@themoneyafrica.com; or
- send a DM to any of our social media channels, or
- simply fill out this form. Don’t worry, your responses are kept anonymous.
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Question
How can one be able to make genuine money online?
Answer
You know, the digital landscape has opened up countless opportunities to earn a living from the comfort of our homes.
One path that many Nigerians are taking is freelancing. It’s like offering your skills to the global market. Are you good at writing, graphic design, programming, or even social media management? Platforms like Upwork and Fiverr are like virtual marketplaces where you can showcase your talents and get paid for completing projects for clients around the world.
Speaking of showcasing talents, have you ever considered creating content? Whether it’s writing about something you’re passionate about, starting a YouTube channel, or even hosting a podcast, content creation can be quite lucrative. As your audience grows, you can earn money through ads, sponsorships, and selling merchandise related to your content.
Now, if you’re more into selling physical products, online marketplaces like Jumia and Konga offer a platform to do that. Whether you’re into crafts, fashion, or gadgets, you can set up a virtual store and reach customers across Nigeria.
A word of caution: the online world can be a mix of opportunities and scams. Always do thorough research before jumping into anything. Success doesn’t usually happen overnight. It takes time to build a reputation and a solid income stream. So, be patient and persistent in your efforts.
Keep honing your digital skills. The more you learn about online marketing, social media, and other tech-related topics, the more avenues you’ll find to make money online. So, stay curious and open to new possibilities!
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Question
I just turned 29 a couple of days ago. I am single with no children, no savings and still searching for a befitting job in my career path. I feel that at my age, I ought to do better. I’m an introvert but I relate with people so well individually and I love public speaking on specific topics for discussions. However, I feel that other areas of my life are on hold because I seek financial stability to help finance those areas (academics, relationships, and family responsibilities).
This, obviously, is looking like it’s not happening soon as I have debts to pay when I eventually start working. The highest net salary I have received is N100k. Saving is quite difficult for me because I think of why I should save when I can invest and make more money. Then, I lose everything, so I am left with no savings and investments. Please, advise me, I feel like I’m failing in life already. I need help.
Thank you for birthing MoneyAfrica.
Answer
I understand that you’re dealing with a lot right now. Turning 29 can trigger feelings of self-evaluation and concern about where you are in life. But it’s important to remember that life doesn’t follow a set timeline, and everyone’s path is different.
You mentioned being an introvert who excels in individual interactions and public speaking on specific topics. These qualities are incredible assets! Being able to connect with people one-on-one is a valuable skill that can lead to meaningful relationships and connections. Public speaking showcases your ability to communicate effectively, and it’s a trait that many people admire and desire to develop. Have you ever thought about combining your interest in public speaking with your expertise in any field of interest? This could potentially open doors to workshops, seminars, or even teaching opportunities.
Another idea is to leverage your communication skills by offering workshops or seminars. You could create sessions on topics you’re passionate about and offer them to interested individuals or organisations. This not only provides a chance to earn extra money but also showcases your expertise and knowledge in your field.
The issue of financial stability is something many people are facing, and it’s understandable to be concerned about it. Start by creating a realistic budget that factors in your income, expenses, and debt repayment. While investing can be appealing, having a portion of your income dedicated to savings is crucial. Savings act as a safety net for unexpected expenses and provide a sense of security. You need to have your debts paid back in full and then build an emergency fund of 3–6 weeks of your monthly expenses before thinking about investing.
Job hunting can be a challenging journey, especially when you’re seeking a job that aligns with your career aspirations. Networking is key in Nigeria’s job market, so consider attending industry-related events or connecting with professionals on platforms like LinkedIn. Don’t hesitate to take on freelance projects or part-time work in the meantime. These experiences could open doors and provide income.
It’s completely natural to feel like you’re falling short, but remember that progress takes time. Seeking advice from a financial advisor who understands the Nigerian context could provide you with tailored strategies to manage your finances and work towards your goals. That’s what we do at MoneyAfrica. You can join our community! It’s important to believe in your own potential and resilience. Life is full of twists and turns, and success isn’t a straight line. Keep moving forward, and don’t be afraid to ask for help or seek guidance along the way. You’ve got this!
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We often get questions regarding how to plan your finances to align with your relocation plans, especially for students seeking to further their studies. As always, we have heard you, and we have put together an e-book to help you navigate this. Follow this link, to get your FREE copy of the e-book: The Japa Encyclopedia.
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