Here are questions and answers from our Everyday Money Matters radio show held yesterday. Everyday Money Matters holds every Wednesday from 7.30am-8.00am on Lagos Talks 91.3 FM.
Question: Ayo just got a job as a salesman for a company that sells solar inverters. He wants to know if it has career prospects.
Answer: Ugodre says its a good move because it is a growing industry.
Tunji says it is not a bad job but it will require lots of marketing because it is a niche business. He should also learn the technical aspect of the business.
Question: Pigo is newly married and would like to have his kids abroad. He has a combined monthly income of 700,000 with his wife. He would like to know how much it will cost him.
Answer: Ugodre says Pigo should save ahead and be sure of the delivery date. The bills could run into millions of Naira just for the air tickets. Ugo says he knows someone who recently spent about N6 million to have a child abroad.
Tunji says lots of people are doing this because of future benefits for their kids education, as they would be citizens. This means they would be a lower fee.
Question: Is The Billion Coin a scam ?
Answer: Ugodre says he should do more research and focus on the top cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
Question: My dad is newly retired and would like to move back to the village. I would prefer he stays back in Lagos.
Answer: Tunji says he should let his dad move if it will make it him happy, and he would have a more peaceful life.
Ugodre says he should let his dad retire to the village but place him on a monthly allowance and get him basic comforts like satellite TV. He should also make arrangements for a hospital where he can get a periodic check up.