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Everyday Money Matters (EMM) is live on @lagostalks913 every Wednesday between 7.30am-8.00am. On the show, we give answers to questions from our listeners and those sent to us.

Here are the questions we treated in today’s edition.

Question

Bisi plans to open a joint account with his wife. They plan to contribute 60% of their income. He wants to know if it’s a good idea.

Answer

Ugodre says it is a good idea so far they contribute a flat amount. There should also be an agreement from the onset on what the money being saved will be spent on. You also have to talk about how much goes into the account

Question

Lukman wants to invest his 13th month salary on stocks and bitcoin. He wants to know the risks attached.

Answer

Ugodre talks of various assets one can invest in for 2018. Firstly,  FBN savings bond which is government fixed income securities that is sold twice in a month. Bonds pay interest quarterly but returns the principal. It saves with no risk. One can also invest in treasury bills. Treasury bills however pays interest rate upfront. One can invest in equities, but pay attention to what’s happening in the economy. This is not the year of deposits; the year of deposits was 2016.

Next is Equities, equity is really good. According to Ugodre, stocks gained like 40% last year, have started gaining 25% already this year. But as usually, there is a risk as stocks can also go down. You need to also pay attention to the economy. Right now, there are lot of good microeconomic news. But be careful not to buy at the top and sell at the bottom.

For stocks, you can start with N100k, N150k. For treasury bills, it shouldn’t be less than N1 million but if you want to save your money yourself, you can subscribe to any website that sells equities.

Next is cryptocurrencies. Cryptocurrencies are however risky so exercise caution. It is high risk but the returns are very good.

Question

A caller would like to know how much he will make if he invests N1 million in treasury bills.

Answer

Ugodre says at the current rate of about 15%, for that year, he will be getting N150k upfront.

Here is a link to today’s thread.

Opinions expressed on Everyday Money Matters  (EMM) are not to be interpreted as financial advice. Please consult your investment adviser.