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Financial Literacy

Best money making gifts to get for bae on Valentine’s Day



Valentine’s Day is fast approaching and everybody is already thinking about what he or she is going to give out as a gift to that special person who means the world to them. Take a look at some money making gifts that will leave lasting impressions on your significant other.

Investment books

Books are priceless gems that can mould the future of an individual forever. What a perfect gift it will be if you carefully select a financial book that can help become a building block to her financial growth in years to come. There are several books that will prove useful in this regard, and they are available at very affordable prices online. I recommend the following financial bestselling books.

READ: Impress on a budget: Don’t break hearts or the bank this Thursday

Sacred Success by Barbara Stanny. It is a book that dwells deeply on the subject of financial management and the fact that there are better ways for women to create wealth and power. It is more than a financial guide. It is available for just $17 online.

Prince Charming Isn’t Coming: How Women Get Smart About Money is another amazing financial book by Barbara Stanny that teaches women how to become smart and take charge of their finances. It is a heart to heart overview about the psychological and financial tools women need to equip themselves with in order to take charge of their financial destinies. It is available for just under $13 on Amazon.

Million Dollar Women by Julia Pimsleur is another blockbuster book I will recommend for your sweetheart for the Valentine season. It is an essential guide for female entrepreneurs who want to take their businesses to the next levels. Available for under $9 online.

How to Make Money on Instagram by Laura Ikeji. I haven’t read it but in just 2-3days, many copies have been sold on Payporte. Does bae love the social media or love taking pictures? Then this book will ultimately teach your bae to convert his/her hobby into a major money making business.

Monopoly board game

This is one of the oldest, financially educative board games in the world till date. It teaches about money and investments and is usually played between two players.

It is a nice gift idea for your loved one, especially during the Valentine season. The game is easy to play and comes with rules for both players to follow similar to Solitaire. The goal of Monopoly is to invest in real estate, earn cash flow, and have the most money at the end of the game.

The game involves lots of planning and decision making, so it is a great way to help your bae to develop an investment mindset. A classic edition of the monopoly board game costs just $14.82 and is available both online and in most standard bookshops in Nigeria.

The Game of Life

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This is another exciting board game that is similar, yet quite different from the Monopoly board game. The Game of Life is an investment board game that is a perfect gift for the special lady in your life. It teaches financial skills like the importance of career and income.


I played it years ago and found it really exciting; a player chooses a path to follow, whether career or business. Depending on the path taken, you are bound to meet with several peculiar obstacles and you will have to make some financial decisions and at the end, these decisions will determine how you end up in “life”.

The player with the most money at the end of the game is declared the winner. It’s an absolutely lovely gift for lovers. It is available online for $20 or thereabouts.

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Android phone preloaded with financial apps and games

Another creative gift to give your girl during Valentine celebration is an Android phone gift fully customized with video games such as The Game of Stocks, Stock Trainer: Virtual Trading, and Market Trends. You can also preload financial e-books – Money Management Tips, Money Manager, 101 Quotes by Robert Kiyosaki, 36 Ideas for Passive Income and The Secret of Getting Rich.

These apps and e-books will trigger her financial consciousness and help her develop her investment portfolio over time. The average Android phone can be purchased with less than ₦30,000 in the open market and you can do the customization yourself before presenting it as a gift to her on February 14th.

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Buy her shares in some profitable companies and present the certificates to her

This is quite unique in the sense that most folks would never think about such amazing investment gifts that will last for quite a while. Some company shares have made the top gainers in the stock market for consecutive seasons and they are worth buying if the funds are there.

To make her appreciate that unique relationship, you can go ahead and buy 2 or 3 company shares on her behalf, package the share certificates and present them to her on St Valentine’s Day. She definitely won’t forget that impressive gesture in a hurry.

Author: Chacha

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience.Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

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Personal Finance

5C’s of creditworthiness: What lenders, Investors look for in a business plan

Business owners need to be aware of the criteria lenders and investors use when evaluating the creditworthiness of entrepreneurs seeking financing.



Five things to consider before securing a loan

Banks usually are not a new venture’s sole source of capital because a bank’s return is limited by the interest rate it negotiates, but its risk could be the entire amount of the loan if the new business fails. Once a business is operational and has an established financial track record, banks become a regular source of financing.

For this reason, the small business owner needs to be aware of the criteria lenders and investors use when evaluating the creditworthiness of entrepreneurs seeking financing.

Will the business that an entrepreneur actually creates look exactly like the company described in the business plan? Of course, not.

The real value in preparing a business plan is not so much in the finished document itself but in the process it goes through – a process in which the entrepreneur learns how to compete successfully in the marketplace. In addition, a solid plan is essential to raising the capital needed to start a business; lenders and investors demand it.

Lenders and investors refer to these criteria as the five C’s of credit.

READ: 5 ways to raise funding for your business

1. Capital: A small business must have a stable income base before any lender is willing to grant a loan. Otherwise, the lender would not be making, in effect, a capital investment in the business. Most banks refuse to make loans that are capital investment because the potential for return on the investment is limited strictly on the interest on the loan, and the potential loss would probably exceed the reward. In addition, the most common reasons that banks give for rejecting small business loan applications are undercapitalization or too much debt. Banks expect a small company to have an equity base investment by the owner(s) that will help support the venture during times of financial strain, which are common during the start-up and growth phases of a business. Lenders and investors see capital as a risk-sharing strategy with entrepreneurs.

2. Capacity: A synonym for capital is cash flow. Lenders and investors must be convinced of the firm’s ability to meet its regular financial obligation and to repay loans, and that takes cash. More small businesses fail from lack of cash than from lack of profit. It is possible for a company to be showing a profit and still have no cash – that is, to be bankrupt. Lenders expect small businesses to pass the test of liquidity, especially for short term loans. Potential lenders and investors examine closely a small company’s cash flow position to decide whether it has the capacity necessary to survive until it can sustain itself.

READ: How to scale as a small business on a budget

3. Collateral: Collateral includes any asset an entrepreneur pledges to a lender as security for repayment of a loan. If the company defaults on a loan, the lender has the right to sell the collateral and use the proceeds to satisfy the loan. Typically, banks make much unsecured loans (those not backed up by collateral) to business start-ups. Bankers view the entrepreneurs’ willingness to pledge collateral (personal or business assets) as an indication of their dedication to making the venture a success. A sound business plan can improve a banker’s attitude towards venture.

4. Character: Before extending a loan or making an investment in a small business, lenders and investors must be satisfied with an entrepreneur’s character. The evaluation of character frequently is based on intangible factors such as honesty, integrity, competence, polish, determination, intelligence, and ability. Although the qualities judged are abstract, this evaluation plays a critical role in the decision to put money into a business or not.

READ: 7 Ways to pay for your higher education

5. Conditions: The conditions surrounding a funding request also affects an entrepreneur’s chances of receiving financing. Lenders and investors consider factors relating to a business’ operation such as potential growth in the market, competition, location, strength, weakness, opportunities and threats. Another important condition influencing the banks is the shape of the overall economy, including interest rate levels, inflation rate, and demand for money. Although these factors are beyond an entrepreneur’s control, they still are an important component in a banker’s decision.

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The higher a smaller business scores on the five C’s, the greater its chances of receiving a loan.



Written by Chukwuma Aguwa

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Personal Finance

Don’t be fooled by COVID-related scams

Always consult the institution in charge of health-related matters to confirm any fishy information you come across.



The nature of and the manifestation of the Covid-19 disease is such that there’s only a little time available to remedy the situation before it gets chronic. Although the infection begins by exhibiting mild symptoms, if you do nothing in a short time, it could lead to death in a matter of days.

This whole picture has caused many to become desperate about Covid-related issues, launching into panic mode at the sight of any information. As a result, such people are not far away from falling for fraudsters.

With the different kinds of news flying around, you mustn’t be fooled by Covid-related scams.

The Coronavirus threatens the health of millions of people around the world daily, also killing thousands along the way. To curb the spread and remedy the situation, bodies like the CDC, WHO, and every country’s local health organisation like the NCDC, frequently circulate information around communities. However, it has also led to fraudsters taking advantage to provide fake news, and even asking for donations.

Each day, there seems to be a new account or NGO asking for donations into the health sector, and though some are legit, many are just fraudsters posing to take advantage of innocent citizens. So far, numerous complaints about scams have been recorded, especially with people who are looking to support the health cause in any way they can.

READ: Africa to spend $9 billion on Covid-19 vaccine, access to supply is big problem

Channels used for COVID-related scams 

There are three major ways scammers take advantage of the haziness of the situation to dupe people. To start with, they appeal to the emotions of humans, who see the high death toll and suffering. As a result of what is happening, people have been willing to donate funds for medical supplies, isolation centres, and financial compensation for medical workers.

Scammers take advantage of this by posing as charity organisations and solicit for funds. Most times, as soon as their target is met, they clear their footprint without leaving a trace behind.

Another way they scam people is by manufacturing and selling fake or low-quality health products. Everyone wants to get their hands on a cure, or something that can at least protect them from the virus, and scammers are meeting their needs by providing just that.

READ: China joins WHO vaccine programme as it fills huge gap left by United States

The World Health Organization currently approves only one vaccine, and any other thing outside it is outrightly fake or just a supplement that will help your body. Currently, only the Pfizer vaccine is clinically tested and approved to work. Be sure to not throw your money in the wind by purchasing some of these fake drugs around.

Lastly, scammers create systems to extract a patient’s personal information, thereby having access to the person’s true identity. It could be in the simple form of opening a registration portal where you supply all your details.

Therefore, only give information to approved bodies and not any random online site that appears legit. These fraudulent individuals can do a lot of damage to your identity. Stay vigilant, only communicate with approved bodies, and always ask questions if you are not sure or suspect foul play.

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The place of electronics in COVID-related scams

These fraudsters usually reach out to you through the digital sphere. Hence, watch out for cold calls, text messages, or emails requesting donations to certain bodies. The best way to confirm the legitimacy of such a message is to visit the organisation’s official website in a different browser. Never follow the link in the mail or text directly, as it can be easily embedded with spyware. Therefore, a single click could see them extract all your personal information, including bank details.


Also, please stay away from those who claim to have a cure, and accompany it with testimonies of people who have used it. They are low graders desperate for your money. Vet them by searching online and see what people are saying. In all, always look out for suspicious messages, and opt out if you are sceptical.

In a nutshell, you should not believe any cure, vaccine or supplement that the World Health Organization does not approve of.

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The government or legit health institutions do not cold call citizens to request donations or coerce them into making one. If you receive a call out of the blues, chances are it’s a scam, which is why they mostly try to hurry you to donate before you realise it. Always consult the institution in charge of health-related matters to confirm any fishy information you come across.

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