Phew!! I'm finally making an entry for this contest after so many procrastination but I'm grateful to the constant reminder I got from the nominated Nigerians. If you don't know, this is my entry for a Hive-naija contest and you can join by reading the contest post Here
Like almost everyone else (just being sarcastic after reading some entries), I suck at investment or should I say I'm still a noob who's learning from those who keeps teaching even without them knowing. Though I'm a noob that suck at investment, one thing's for sure.
I know that one must have had enough saved up before going into any investment. You might want to ask "Why having enough first?" You don't really need to have too much to invest but it would be best to be free enough to give an amount into an investment without having regrets.
There are so many investments one could get involved with and believe me "Each of them (no more, no less) have their own risks" especially when done noobstically... Just flow with the noob of a word 😂
The only investment I can remember getting involved with and still involve with is the Crypto - Investment. Mind you, this investor writing this started a few months back so she know almost nothing about these investments compared to some persons she knows here on Hive.
I'm still wondering how I got this far into investing on Crypto because I remember I was the type that preferred to spend as it comes and never worried for where the other money to spend would come from. But here I am giving my own tips on investment strategy.
Save Some, Spend Some
I try to save some part before spending and what I mean by saving is taking care of myself ad what I mean by spending is investment. I pay myself for the work done, then use some for investment so I could replace whatever I spent and also gain more. I don't like having the feeling of "I don broke" so I make sure to have investments that would cover up my expenses. Pay yourself before making investments, don't put all your earnings into investing. Some people throw all out for an investment and ends up not taking good care of themselves - I don't do that.
Pay Off Debts If Any
I know someone who has so much on investment but owes his friend a huge amount of money. I feel like it's unfair to go into investments when you could pay off some debts you're owing. "Heart can cut me if I dey owe person money" I wonder why some people aren't like that. While having those great investment ideas, be free from any debt - looking situation.
Ask Countless Questions
When I first got to know about crypto and it's investments policy, I remember one of my introducers saying "You too ask questions self" and I was like "Just answer this last one make I ask another last one". I'm not the type that ask so many questions and end up not doing anything about what I learnt. After asking questions and doing some research, I go into the investment with my gut feeling of having a good reward at the end and sometimes I also go into it with a testimony from someone I know.
Not a good way of investing I guess, but it works for me so I think I can share it as well.
There's one other strategy I'm yet to implement and that is
Not Focusing On One Investment
I have invested on some coins and will be doing more of that as time goes on but I still think of having another investment off the crypto world. There are some factors I have to look at before I go ahead with it but it's a nice idea from the reviews I've heard so far.
So in all that I'm saying, save some for yourself, be free with your investments, ask questions (do research) and don't focus on only one side of investments (be dynamic) and lastly:
Watch Your Investments
I don't agree with forgetting your money then check in a later time to get so much profits. Watch all your investments and their growth and if there's need to stop any, you do but if there's need to increase any input, you do so as well. Just be sure to watch your investment and grow consciously.
I will like to invite @officialuroga to join us at #hivenaija and also to participate in the contest, he's another amazing Nigerian writer I know on Hive who would have something to say about investments.
All images used were gotten from the bitmoji app