Now that you have started saving, I will not want you to just leave your money idle (with a very low interest rate) in the bank. Can you remember I said earlier that rich people are good indentifying opportunities? The law of multiplication states that you must keep multiplying your financial assets. How do I mean? Don’t you think it will be great to double what you currently have in the bank? I know you will like this. I am simply talking about investing. There are investment opportunities around town now that you can get your money into as a student. First is the stock market. You can start buying company shares with the little you have. Do you know that you can buy 1,000 units of a company with as low as 500 naira. Imagine you saving 4,000 in a month. Think of how many units you will buy with 4,000. That’s 8,000 units. It’s a great start. This is your best time to get involved in this act. The stock prices are generally low at the present and I believe this is the best time for students to get rich. Later the stock prices will start increasing. As they increase, your money is also doubling itself. By buying shares, you become a co-owner (shareholder) of the particular company you bought. Not only this, companies will sometimes pay you dividend and also give you additional bonuses to your stock. Dividend is simply you own share of the profit the company made at the end of the financial year. Bonus is simply an addition to the number of units you have in a company. I am not just quoting principles to you, I am personally engaged in stock trading as well.

Another way of multiplying what you have in the bank is by going into petty business. This is the way I grew my wealth. I started by buying empty Compact Discs and selling it to the people around me. I started with just 1,500 naira and I made an extra 2,000 naira after selling the first pack. The interesting aspect is that what I called a petty business then is already growing to become a large business. Identify the pressing needs among your friends and solve those needs with the money you have. I have a friend who bought a laptop from selling wrist watches to his friends alone. He did not even advertise it. By now you should have accepted that you don’t need huge amount of money to launch a business. You can engage in the sales of items like Recharge cards, Pen, Wrist watch and some other petty commodities with as low as the 4,000 naira you have in your savings. Remember this other sources of income you have. All you have to do is to introduce your business to all your friends. You won’t need any paper advertisement in this type of environment. I will be waiting to hear about your progress. There are many other ways of multiplying your money, but I will limit it to the above for now. These are part of the things that awaits you at PURPOSE GROUP. I have an information-filled package for people like you already.

Before I sign out from this series, let me discuss one more principle with you in my next post.