By Omobola Tolu-Kusimo
AXA Mansard has advised Nigerians to make wise financial decisions in the year.
Its Chief Operating Officer, Alex Edafe, in a statement, said it is important to start taking decisive steps to make some achievements in the year.
Edafe stated that yearly, people aspire for financial independence by starting out with new year’s resolutions.
According to him, many are still unable to realise these goals due to various reasons, including low financial literacy, low determination, unclear goals and late implementation of financial plans, although it is better late than never.
He said: “Financial goals differ for everyone and could be short-term of between 0 and one year, such as investing towards the next rent, school fees, travels, wedding, automobile among others.
“Also, medium-term of between one and five years’ goals will not be limited to investing to buying a properties, including land, house and shop, advance or continuing education, starting a business or equity ownership in businesses, future school fees whereas long-term (after five years) goals include philanthropy, retirement savings, and financial independence.
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“Key strategies that can be applied for financial success in the new year to include paying attention to one’s health, building an emergency fund while improving financial literacy, taking insurance on risks you are unwilling to take, getting an extra source of income, automating one’s savings and investments, getting out of debt, creating and living within budget, proper recordkeeping of savings and investments.’’
He stressed that financial independence can only be achieved by focus and intentionality.
“As we go into the year, a great way to achieve financial independence is to invest in the AXA Mansard Money Market Mutual Fund, which provides unit holders with capital preservation and competitive return.
The fund is liquid, hence a unit holder can liquidate within 24 hours, affordable when you consider the minimum investment amount of N1,000, accessible through various online and offline channels and professionally managed by AXA Mansard,” he said.
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