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Investing in your future - How to make the most of your Christmas bonus

December 27, 2023

Mama always said December is like a masquerade with two faces. One is filled with joy and smiling, bearing twinkling lights that adorn every corner. This comes along with the sweet aroma of comfort foods filling the air. But the other face? Oh, it’s sharp-toothed and sly, whispering about the January blues and the empty pockets that follow the festive season. This year, that second face seemed extra hungry, and Chidi found himself in its crosshairs. 

Then, unexpectedly, a bonus arrived, fat and jolly, like Father Christmas himself had dropped it into Chidi’s bank account. His heart skipped a beat as he imagined the possibilities. Village jollof, new clothes, and perhaps even a luxury ride to show off to his friends. But before he could even dream of indulging in these fleeting pleasures, the “what ifs” began to gnaw at him. 

Rent, transportation, food, and the ever-increasing price of yams at the staggering 2,500 naira per tuber – they all lined up, their hungry eyes fixed on Chidi’s bonus. The weight of responsibility bore down on him, threatening to dampen his festive spirit. But wait, just like Mama’s dancing steps always turned frowns into smiles, maybe, just maybe, this money could do the same for his future. 

Instead of succumbing to the appeal of immediate gratification, Chidi pondered the idea of investing. Not in some low or no-yielding bank account that would barely keep up with inflation. But, in things that had the potential to grow, like seeds planted in fertile soil. It was during this contemplation that Adewale, his smart and business-savvy friend, suggested mutual funds

“What if,” Adewale began with a mischievous glint in his eyes, “you could imagine multiple versions of yourself, working diligently in various companies, each sending you their hard-earned money every month?” Chidi initially dismissed it as crazy talk, but the more Adewale explained, the more it made sense.  

Mutual funds are like buying tiny pieces of stocks in a hundred different businesses, all working together to create something bigger

And what about Chidi’s own dreams? He had always yearned to become a writer, to craft stories that danced off the page and made people laugh like there was no tomorrow. Adewale suggested that Chidi invest in himself by taking a writing course, planting the seeds of words that could one day blossom into a full-blown book. A book that could not only buy yams for all of Lagos but perhaps even send Mama on a long-awaited pilgrimage to Jerusalem. 

It wasn’t an easy decision, of course. Saying no to the shiny new phone and resisting the pull of luxurious indulgences required immense self-control. But every time Chidi felt tempted, he closed his eyes and pictured that future he so desperately desired. He imagined Mama smiling without any worry in the world, himself holding a book in his hand, and the scent of Adewale’s success cologne wafting through the air. 

So, this Christmas, their celebration went beyond mere feasting and laughter. They planted seeds – seeds of investing, seeds of wealth, and seeds of dreams. As the new year crept in, its face was no longer hungry rather wearing a smug grin. It was as if the masquerade had switched masks, transforming its frown into a knowing smile. Perhaps, just perhaps, they had outsmarted December, turning its potential bite into a blessing. 

After all, even the tiniest seed, with a little care and nurturing, can grow into a towering tree that shades not only the present but also future generations.  

And that, my friends, is a future worth investing in. So, let us remember that while December may come bearing gifts, the real magic lies in what we choose to do with those gifts. Will we squander them on fleeting pleasures, or will we plant them in the fertile soil of our dreams, watching them grow into something truly magnificent? 

Read also: Suya Money Isn’t Yam Budget- Conquer Your Christmas Spending Like A Pro 

As Chidi sat down with his family, enjoying the warmth of their love and the taste of Mama’s famous jollof rice, he couldn’t help but feel a sense of pride. They had made a choice, a choice to invest in their future, to nurture their dreams, and to build a legacy that would stand the test of time

So, as the year ended and the fireworks lit up the night sky, Chidi made a silent promise to himself. He would continue to learn, grow, and invest not only in his financial well-being but also in the things that truly mattered – family, dreams, and health. 

For in the end, it is not the size of our bank accounts or the possessions we accumulate that define us. It is the choices we make, the investments we pour in ourselves and others, that shape our lives and leave a lasting impact on the world. 

So, as you step into the new year, remember the power of investment. Invest in yourself, invest in your dreams, and invest in the future you want to create. And who knows, just like Chidi and his family, you might find that the greatest returns are not measured in Naira or Dollars, but in the joy, fulfilment, and legacy you leave behind. 

Reach out to the money experts at Coronation Asset Management, or Coronation Securities, and they would help you plant the seeds.  

Now, who’s up for another round of Mama’s delicious stew? This year, it tastes like hope, and that’s the sweetest flavour of all. 

I like to think I am done with this story, but allow me use another paint colour to highlight key steps to transform your holiday cheer into a strategic seed for a flourishing future: 

Step 1: Define your future self 

Before you dive into investment avenues, paint a clear picture of the future you want to build. Do you crave financial independence in a decade? Are you yearning to own a home, send your kids to the best schools in the world, have a dream vacation, or a stress-free retirement? Once your goals are defined, your investment choices become more laser focused. 

Step 2: Assess your financial landscape

Take stock of your current financial situation. This includes your income, existing debts, emergency funds, and regular expenses. This assessment helps you determine how much of your bonus you can realistically invest along with your risk tolerance. 

Step 3: Explore the investment universe

A plethora of options await your exploration: 

Consider mutual funds for diversified exposure to stocks, bonds, or real estate. Explore individual stocks if you have a higher risk appetite and research skills. For guaranteed returns, government bonds offer stability. 

Step 4: Tailor your strategy

Based on your goals and risk tolerance, create a personalised investment mix.  

A young professional might favour high-risk, high-return investments, while someone close to retirement may prioritise stability and income. Seek professional financial advice for proper guidance, especially for complex investments. 

Step 5: Automate and stick to the plan

Set up automatic transfers to consistently invest a portion of your income, not just lump sums. This fosters discipline and helps you build wealth over time. Remember, investing is a marathon, not a sprint. Stay focused on your long-term goals and avoid short-term impulse decisions. 

Step 6: Celebrate your wins

Investing comes with challenges and uncertainties, but don’t forget to celebrate your milestones. Reaching your saving goals, seeing your investments grow, or completing a skill-building course are all achievements worth appreciating. 

Beyond the Numbers: 

Investing in your future isn’t just about financial gains; it’s about personal growth, empowerment, and creating a life you love.  

Remember, your future is an ongoing investment project. The bonus you receive today is just one brick in the edifice you’re building for tomorrow’s financial freedom. By making informed choices, prioritising your goals, and cultivating growth in all aspects of life, you can transform your Christmas windfall into the foundation of a bright and fulfilling future. So, step away from those impulse purchases and embrace the attitude of investing in yourself. 

This write-up serves as a starting point. Remember to conduct your own research, seek professional advice where necessary, and tailor your investment strategy to your unique circumstances.  

May your Christmas bonus unlock a future filled with abundance, joy, and the freedom to chase your dreams! 

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