Good morning,

Have you ever felt guilty about making money? Most people live by a moral code that also applies to how they think about money: the morally acceptable and unacceptable ways to make and spend money. The man in this week’s #NairaLife is a pastor who’s currently earning more money than he ever has. However, he believes his income source is morally unacceptable.

The second story in today’s newsletter also touches on moral codes. We asked people what they thought about marrying for love or money and got interesting responses.

Let’s get into it.

In this letter:

• #NairaLife: The Pastor Navigating Guilt and a Marketing Career
• To Marry for Love or Money? — 6 Married Nigerians Share Their Experiences
• Aunty M: I’m a Student. How Do I Start Investing?
• #ZikokoMoneyVideo: Would You Abandon Your Career To Marry Into Wealth?
• QUIZ: Does Money Like You?
• Where The Money At?!

Before the 36-year-old pastor in this #NairaLife started moonlighting as a marketing professional, he had stints as a teacher, farmer and mission volunteer. At ₦250k/month, he’s currently earning more than ever.

The only problem? He believes his job is affecting his relationship with God.

Read his #NairaLife here

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A Nollywood actress recently said they wished they’d married for money instead of love, sparking a new debate on social media.

Curious, we spoke to married Nigerians, and they talked about marrying for either love or money and what they’d do differently if they could have a do-over.

Read what they said

Hi, Aunty M.
I am a fourth year student, and I’m interested in personal finance and financial literacy. I’m quite confused on how to start investing and suitable options for a student. I’m not a fan of saving; I believe investing is way more profitable. There’s also the decline of the naira to consider. How do I start investing and suitable/profitable options for a student? – Adebbie

Hi Adebbie.

I love your interest in personal finance! You’re doing well. There are so many ways to invest. You can invest in stocks, real estate, exchange traded funds, cryptocurrency, bonds, index funds, and in mutual funds, just to name a few. You have to choose the one that is suitable for your risk level. I’d suggest thinking about it in five steps.

Step One: Educate Yourself: Before you start investing, take the time to learn about the basics of investing, including different asset classes, risk management, and investment strategies.

Step Two: Choose a brokerage account. In order to buy and sell stocks, you need to have a brokerage that facilitates that transaction. In Nigeria, you can consider Trove, Chaka and Bamboo to name a few.

Step Three: Fund the account. Choose a realistic amount of your monthly salary that you can consistently invest. Is it ₦10k, ₦20k, ₦30k? Automate this transfer so that you’re always putting money towards your goals.

Step Four: Consider purchasing ETFs which are funds that a professional fund manager has created. There are a variety of funds available and you can choose the one that works for you. A good place to start is a fund that tracks the S&P 500, which is the 500 largest companies in the United States.

Step Five: Sit back and monitor your portfolio. Remember, your money will fluctuate up and down in the stock market, but you are investing for the long term. You don’t make money until you sell and you also don’t lose money until you sell. Have patience and keep your in for the long term.

Xoxo,
Reni

• Have a money question? Ask Reni here and we’ll take it from there

Watch the video here

If you’re reading this, you probably like money. But does money like you back?

Take the quiz to find out

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• Senior Video Producer – Zikoko
  
• Deputy Editor – Zikoko
  
• Features Writer – TechCabal
• Features Director – TechCabal
  
• 
  Head, Strategy – Deloitte

• 
  Finance Analyst – Max

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All good things must come to an end. But not this good thing. We’ll be back next week.

In the
meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week…

Yours cashly,

Tife,

Zikoko’s resident money girl

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