Financial tips to increase your wealth.


Finances and wealth creation

Not having a good and sound financial knowledge will inevitably deny you the opportunity to make financially sound decisions. If you fall into this category of people, fear not!

This article delves into the best financial advice for upcoming young adults and even those willing and eager to improve there personal finances.

So here are the 7 tips to increase your wealth.

  1. Get Paid What You’re Worth and Spend Less Than You Earn: It may sound simple, but many people struggle with this first rule. Try every time to invest and spend less of what you have. You may try to overspend in other to cater for a few things but that is not necessary.
  2. Let your Budget be your guide: Sticking to your budget is the best way to go about organising your finances. So many times we tends to bring in things that are so irrelevant through the backdoor. Never spend on anything not budgeted. Let this rule guide you.
  3. Avoid Credit Card Debt: It feels amazing when you’re given a loan or credit card to repay later. One of the dangerous aspect of this is that it makes you see the money as nothing and thus you tends to overspend it irresponsibly, forgetting you would be repaying that later. So try and avoid this as much as possible.
  4. Plan for Retirement: Retirement is an inevitable things that must happen to every worker. so the earlier you plan, the better. Hence, ensure you set aside retirement fund each month that may be your saviour in the later years when you are finally out of job.
  5. Have a Savings Plan: Just like in planning for retirement, savings account is key to sustaining your wealth. Irrespective of the investment you want to do, having a bulk amount of savings would help you abundantly especially during the rough economic times.
  6. Invest your funds: I must say that it is rarely impossible to grow in wealth without investing wisely. There are so many areas to put your money. Such as forex, stock exchange, mutual funds etc. You can also invest in real estate, Cryptocurrency, education and healthcare. These areas will fetch you wealth if you remain patients and plan very well.
  7. Review Your Insurance Coverages: Your insurance is very good because it may be your only financial saviour in perilous times that may seem as if the entire hell is out against you. However ensure you look at the details very well before you sign up. Don’t allow anyone deceive you. Take your time to study it accordingly and let independent financial experts guide you.

How can we help you?

IYKEMAN.com has a very sound financial management partners. So if you’re looking for expert advice on managing your funds and finances, get in touch with us via our contact page. Send us an email or chat us up we are always available to offer you all assistance you need.

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Don’t get discouraged — Realtalkwithmatty.wordpress.com

A Reblog from #realtalkmatty, Enjoy.

Life is full of challenges that will emerge keep your faith don’t get discouraged stay on the path that you have laid out and maintain your focus all things are possible if you believe . .

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Don’t get discouraged — Realtalkwithmatty.wordpress.com

Financial Management; what you should know.

Financial Management

Brief Overview.

Financial Management refers to the strategic planning, organising, directing, and controlling of financial undertakings in an organisation or an institute. It also includes applying management principles to the financial assets of an organisation, while also playing an important part in fiscal management.

Phillippatus Definition.

Phillippatus gave a concise and good definition as follows; “A Financial Management is concerned with the managerial decisions that results in the acquisition and financing of short and long term credits for the organizations.”

Basic Concepts.

At the basic conceptual level of a financial management, it is simply implying you saving as much money as practicable. In a time as ours, where there are several sources of funding and high expectations for return on investment the aspect of managing these funds becomes very critical and a grand knowledge of financial management most expedient.

The characterization of funds procured from different sources varies in terms of cost, risk, management and control. A smart manager will know that the funds should be procured at minimum cost, at a balanced risk and control factors. This is very important because meeting the expectations of various investors is paramount.

it is however very advisable to always follow a management and good planning strategy which offers great result in financial management. One of the most prominent strategy is the 50: 30: 20 set up.

What is 50:30:20 strategy?

In this model, the 50% of your salary or total in-hand compensation goes toward basic necessity of life. Such as the house utilities, rent, groceries, transport and other essential things.

The other 30% goes into maintaining your lifestyle expenses such as various shopping and dinners, vacations and fun trips.

Then the last 20% is towards the future: Such as mortgage/housing and debt repayment, retirement planning and contributions and other emergencies that may arise anytime etc.

What you should know.

In conclusion, what you should know is that the ultimate primary objectives of financial management are:

  1. Attempting to reduce the cost of finance.
  2. Ensuring sufficient availability of funds for future investment.
  3. Dealing with the planning, organizing, and controlling of financial activities like the procurement and utilization of funds and maintenance a steady operation.

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Data Lake; what you need to know.

In todays world of data science, there is increasingly urgent need for data storage for future transformation and deployment. One of the ways by which this is done is by what is called a data lake and data warehouse. Data lake is storage and collection of unrefined data i.e, data in its native form, with limited transformation captured from a diverse array of source systems.

In its most basic definition, data lake is a system or repository of data stored in its natural or raw format, usually object or files. It is a huge store of data including raw copies of source system data, sensor data, social data etc. It could also mean so many things to different people.

What you should know.

The terms data warehouse and data lake are often misleading but are totally different, though their popularity with large enterprises is similar. A research conducted by Gartner  shows that about 80% of enterprises use data warehouses or plan to use them in the next 12 months, while 73% use or plan to use data lakes in a similar time period.

Data lakes are set up to capture much or all the data that an enterprise generates not just data that is needed for specific types of queries. All manner of data including those from relevant sources and irrelevant are poured into the data lake without any kind of being processed or transformed.

What you must know. 

Data lakes makes it a lot more easier to handle a new stream of data because no transformations need to be done, and it also means that data lakes are so big that you can call on them for immediate processing when an urgent analytics is deployed to solve a peculiar problems.

In most cases, they are kept indefinitely, in case it is needed in the future, this is in contrast to data in data warehouses which are often subjected to a lifecycle that means that it is discarded after a certain period of time or even transferred to a data lake for future and indefinite storage.

One of the major importance of this is for easy deployment and analytics purposes. It also gives an organisation immediate access to large volume of data which could be turned into a veritable tool for immediate problem solving.

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New FDA approved Molecule for treatment of Endometrial Cancer “Dorstalimab”, What you should know.

FDA Stamp of Approval

The United States of America foremost drug regulator FDA today gave an accelerated approval to the immunotherapy molecule dostarlimab branded as (Jemperli) for the treatment of recurrent or advanced endometrial cancer with deficient mismatch repair (dMMR).

What you should know.

Dortalimab is an inhibitor and its usage is limited to patients who have progressed on or following prior treatment with a platinum-containing chemotherapy. Also the eligibility must be determined by an FDA-approved test for the dMMR biomarker. So basically, the protocol must be strictly adhered to for optimal benefits.

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What FDA are saying.

According to FDA Statement made by Richard Pazdur, director of the FDA’s Oncology Center of Excellence and acting director of the Office of Oncologic Diseases, “Today’s approval of Jemperli is evidence of the FDA’s progress in applying precision medicine to expand treatment options for patients with cancer, this immunotherapy was specifically studied to target dMMR endometrial cancer and leverages scientific knowledge surrounding the mechanism of immunotherapy response in this unmet medical need population.”

What you must know.

Dostarlimab, a PD-1 inhibitor, recently showcased clinical activity in patients with dMMR and MMR proficient (MMRp) endometrial cancer, regardless of investigator assessment.

In GARNET, investigators tested single-agent dostarlimab in expansion cohorts across multiple tumor types. Patients who were eligible for enrollment were treated with dostarlimab at 500 mg of intravenous (IV) every 3 weeks for 4 cycles followed by 1000 mg IV every 6 weeks until disease progression.

In the data that led to the approval, GSK noted that among 104 patients evaluable for safety, the most common (≥20%) adverse events (AEs) included fatigue (48%), nausea (30%), diarrhea (26%), anemia (24%), and constipation (20%).

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The most common (≥2%) grade 3/4 Adverse events included anemia and increase in alanine transaminase levels. Discontinuations of dostarlimab due to Adverse events occurred in 5 (4.8%) of patients, and no drug-related deaths occurred.

This was really an impressive safety profile and we hope that real time market performance could surpass this preliminary findings.

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Cloud Computing: what you should know.

Cloud Computing simply means the delivery of different services through the Internet. These resources includes tools and applications like data storage, servers, databases, networking, and software. As long as an electronic device has access to the web, it has access to the data and the software programs to run it. However if the device lacks basic internet access it may find it difficult running such programs.

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What you should Know.

Cloud computing often come with pay-as-you-go pricing. Instead of buying, owning, and maintaining physical data centers and servers, you can access technology services, such as computing power, storage, and databases, on an as-needed basis from a cloud provider. With this you can virtually do any thing at any time most convenient for you a per pay as you use basis.

The cloud gives you easy access to a broad range of technologies so that you can innovate faster and build nearly anything that you can imagine.

Services provided:

These most popular services provided by cloud includes such things as independent computing powers, storage, and databases, to Internet of Things, machine learning, data lakes and analytics, and much more.

You can deploy technology services in a matter of minutes, and get from idea to implementation several orders of magnitude faster than before. This gives you the freedom to experiment, test new ideas to differentiate customer experiences, and transform your business.

The three main types of cloud computing:

  1. Infrastructure as a Service.
  2. Platform as a Service.
  3. and Software as a Service. Each type of cloud computing provides different levels of control, flexibility, and management so that you can select the right set of services for your needs as to when you need them.

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Introducing a new design for the WordPress apps — The WordPress.com Blog

The WordPress mobile apps are the best way to manage your site from anywhere. If you’re already using the app, you might have noticed a new visual design that’s been rolling out. That rollout is complete in WordPress 17.1, which is available today for both Android and iOS. If you’re not already using it this […]

Introducing a new design for the WordPress apps — The WordPress.com Blog

WRITING EVERYDAY — Let’s talk

Shared!!!

I love having my own secret space, i love tasting life twice…. It’s been more than a year that i took the decision to dedicate much of my time to the feather, I’m not gonna say that in that year i was consistence i missed some days when I’m not in the mood to do […]

WRITING EVERYDAY — Let’s talk

The Central Bank Of Nigeria Stops FinTech Start-ups from BVN Validation services.

The Apex Bank of Nigeria building.

The Central Bank Of Nigeria has allegedly stoped FinTech Start-ups from BVN verification. This was hinted by many emergency messages sent out to customers by the affected companies. One of such messages read as follows;

We’ve recently been made aware of a regulatory directive from the primary custodian of Nigeria’s BVN service to all their partners to suspend the provision of the BVN validation service to their third-party partners. This directive affects every non-bank in Nigeria that offers BVN Validation services. In light of this news, we’re hereby informing you that the BVN Resolve service will be temporarily unavailable starting at midnight, April 8, 2021.”

What you should know.

The move is going to force the start up FinTechs to look for alternative means of verification of customers. Such ways they could do this is by use of National identification number (NIN) of the country or international passport biodata of their customers.

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Y Combinator seed capital; what you should know.

Y combinator is an American seed money startup accelerator launched in March 2005. It provides seed funding for startups. Seed funding is the earliest stage of venture funding. It pays your expenses while you’re getting started. It has been used to launch over 2,000 companies; such companies as Stripe, DoorDash, Coinbase, Reddit etc.

The YC Fellowship Program was announced in July 2015, with the goal of funding companies at the idea or prototype stage. The first batch of YC Fellowship included 32 companies that received an equity-free grant instead of an investment.

In January 2016, Y Combinator announced version 2 of the Fellowship program, with participating companies receiving $20k investment for a 1.5% equity stake. The equity stake is structured as a convertible security that only converts into shares if a company has an initial public offering (IPO) or a funding event or acquisition that values the company at $100m or more. The YC Fellowship was short-lived. In September 2016, then CEO Sam Altman announced that the fellowship will be discontinued.

However, it rebounded back In 2017. That year, Y Combinator announced Startup School, an online course that released public videos and also coached individual startups on a larger scale to replace the fellowship. A total of about 1584 startups graduated the program in its first year.

What you should know.

Y Combinator interviews and selects two or more batches of companies per year. The companies receive seed money, advice, and connections in exchange for 7% equity of the company. The program includes “office hours”, where startup founders meet individually and group meetings. Founders also participate in weekly dinners where guests from the Silicon Valley ecosystem (successful entrepreneurs, venture capitalists, etc.) speak to the founders.

What you must know.

Y Combinator’s motto is “Make Something People Want.” The program teaches founders to market their product, team and market, refining their business model, achieving product market and scaling the startup into a high growth business, etc. The program ends with Demo Day, where startups present their business and sometimes technology to potential investors.

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