Wealth Financial Resources - WFR

Wealth Financial Resources - WFR Wealth Financial Resources (WFR) thrift savings is here to help you meet up with your short-term and long-term financial goals.

07/05/2023

5. Don't make your calculations based on assumptions of external help:

One good turn deserves another; does it? Many people have helped others in the past and feel entitled to the same or even more measures of help. Unfortunately for some, their hopes are dashed. One mistake intending couples make is putting so much hope in someone else providing assistance of some sort. A rich family member, a close colleague etc.

To avoid disappointments, it is advisable to make all plans within the resources you have on the ground. Any addition from others should be just that; additions.

In conclusion, marriage is essentially full of compromise, letting go of some of your principles, expectations and aspirations just to make your partner happy. In the wedding planning process too you may need to sacrifice some of your fantasies because of the financial situation of your partner.

Source: Nairametrics

07/05/2023

4. Draft a savings plan:

From the figures of your estimate, your monthly and annual income and your expenses, you can draft a savings plan. For example, if you earn N500,000 a year with no current savings, then it'd difficult to afford a N2m wedding in two years’ time.

Your estimate and your income must be in tandem. Remember that even if you manage to pull it off by running into debt, you have only made the first few years of your married life more difficult.

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07/05/2023

3. Create an estimate or savings target:

Your wedding is in two years’ time. Apparently, the cost of goods and services would not remain stagnant in this time period but it is wise to have a rough estimate or at least some savings target no matter how vague. How many guests do you plan to cater for?

How much is the maximum amount of money you are comfortable with splashing on a wedding? How much is your current monthly income? Do you have savings to help start a home right after the wedding?

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07/05/2023

2. Cut your coat according to your size:

All fingers are not equal. In some extra flamboyant weddings, the cake alone is worth several millions of Naira. Ironically, this may be the entire budget of another wedding elsewhere. You may need to be objective, shove fantasies and daydreams down the hole and look at the reality on the ground.

Can you afford that expensive reception hall? Is hiring that live band within your budget? Is it absolutely necessary to wear the trending wedding gown?

Understandably, it is human nature to want to have a memorable wedding but common sense must prevail to ensure that we don’t slip into financial ruin as a result.

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07/05/2023

How to save for your wedding:

1. Have the conversation with your partner:

The first step should be having a money conversation with your partner and understanding their own financial capabilities. You may be surprised to find out that your partner is more buoyant or had savings put aside for their wedding beforehand.

As the man for example, are you willing to shoulder all the expenses for the wedding? Are you an advocate for splitting financial responsibilities? Do you feel your partner’s family should render assistance in one way or the other?

These questions should be properly addressed with your partner. This is because having vague answers and expectations may lead to high hopes that could come crashing down.

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Planning to get married soon? How to save for a wedding.Many single people look forward to a flamboyant wedding full of ...
07/05/2023

Planning to get married soon? How to save for a wedding.

Many single people look forward to a flamboyant wedding full of colour, with someone they love and probably live happily ever after.

Unfortunately, as with several fantasies we had when growing up we realise that beneath the fun and fanfare is real work. Behind the flamboyant wedding are months if not years of saving and intentional planning to make the occasion a success.

The saying, “he who fails to plan is already planning to fail” might have no better use case than in the context of a failed wedding ceremony.
Clearly, this isn’t some walk in the park and needs proper preparation for a hitch-free ceremony.

Cont'd in next post..

CBN denies suspending accounts of OPAY, PALMPAY, says its fake news.The Central Bank of Nigeria (CBN) has denied reports...
28/03/2023

CBN denies suspending accounts of OPAY, PALMPAY, says its fake news.

The Central Bank of Nigeria (CBN) has denied reports making rounds that it has suspended accounts of some Fintech companies like OPAY and PALMPAY describing it as fake news.

According to the News Agency of Nigeria (NAN), this was made known by the Acting Director, of Corporate Communications of CBN, Mr. Isa Abdul Mumin, on Friday, March 24, 2023, in Abuja, where he said that the viral news "is simply fake".

OPAY and PALMPAY are licensed under the CBN mobile payment regulatory framework.
They are to provide mobile money services including mobile payment services to both the banked and unbanked and to drive financial inclusion.

(NAN)

https://www.premiumtimesng.com/news/more-news/589981-cbn-debunks-viral-news-suspending-opay-palmpay.html

Pay & recharge your BEDC prepaid meter electricity units with ease from the comfort of your home and have your recharge ...
10/03/2023

Pay & recharge your BEDC prepaid meter electricity units with ease from the comfort of your home and have your recharge units token sent to your phone instantly. Service available 24/7 ✅WhatsApp: wa.me/2348138027927

The new Naira notes are protected by various security features to enable the easy recognition of genuine notes. Take a l...
21/12/2022

The new Naira notes are protected by various security features to enable the easy recognition of genuine notes. Take a look at these features to avoid acceptance of counterfeit notes.

Periods of lack are always incredibly awkward. They are even more so when you are used to a luxuriant lifestyle and have...
08/12/2022

Periods of lack are always incredibly awkward. They are even more so when you are used to a luxuriant lifestyle and have certain standards to maintain.

However, all such inconveniences can be avoided if only you abide by a couple of principles that financially educated individuals never stray from.

World Savings Day is globally observed on October 31, since its inception in 1924.• World Savings Day is commonly known ...
31/10/2022

World Savings Day is globally observed on October 31, since its inception in 1924.

• World Savings Day is commonly known as the "World Thrift Day" across the globe.

• This day was initiated by the International Savings Bank Congress in the year 1924 to promote savings.

World Savings Day recognition urges that savings be done as a responsibility both by individuals and by the society at large.

Wishing you a happy World Savings/Thrift Day from Wealth Financial Resources - WFR

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