Quiz & Competition Questions
1. What did you learn from the FirstBank Goals.Grit.Grind Financial Literacy event for Youths on the 29th of December 2017?
Upon arrival at the conference, I was blown away. It was more than I expected. Every Session was enlightening and mind changing.
The TED TALK SESSION
The conference started out with us watching videos of various TED talks by successful individuals where I learned that the major keys to success have been put to an acronym BIG which stood for Books, Individuals and Goals.
Books:
I learned that a person becomes what he studies and feeds his mind on so if he read miscellaneous things, he would get miscellaneous results. The books we read affect our minds and thinking in many ways than one.
Individuals:
I also deduced that no one’s opinion of you is your reality. I must constantly surround myself with people who understand my goals and will help me accomplish them. I must also surround myself with positive minded people.
Goals:
Under this, I gained that goals makes a person stretch so in setting goals I should set high goals. Writing goals down also helps me to be more committed to them.
NIMI’S SESSION:
From this session, I learned that:
– In setting Goals, I should set SMART Goals i.e goals that are Specific, Measurable, Achievable, Realistic and Timely;
– Creating a budget is good but stick to it is best;
– I should also be cautious of Credit i.e Borrowing. I should try as much as possible to avoid it;
– Start saving now;
– I should invest in myself. I am my greatest asset;
– Everyone needs to have a side hustle different from their regular pay cheque or pocket money;
– I should Identify my God given talents and capitalize on them;
– I should invest for my future by diversifying my investments;
– In choosing a life Partner, I must choose wisely because my life partner will most times affect how far you I can and will get to,
– I should take risks by investing in the stock market. Nothing great comes without risks,
– My health is wealth;
– Giving back to the society is pivotal. It is through philanthropy that we attain the best relationships with our money. Generosity enriches our lives far more than money or material possessions.
My Keynotes of this session were simply:
Planning,
Saving,
Investing,
Giving.
Dr IBUKUN AWOSIKA’S SESSION
I was able to garner the following:
– I should never do or get myself involved in anything I don’t understand or anything that isn’t so clear to me. If it seems to be too to be true, then it is too good to be true, so, I SHOULDN’T DO IT;
– Money grows money and having money is nothing but learning how to manage the little wealth that comes to you is what really matters;
– I should never build my life on other people’s income, but to build my life on my own income;
– Courage, discipline and dedication is needed once goals are set and I should also be ready and able to say No! to anything that would distract me from my goals;
– Things that are so easy for everyone to do usually doesn’t hold much value it’s the things that are harder to get/achieve that holds greater value;
– To understand my business cycle, understand my true cost, I must know my exact profit and pay myself. I must learn to separate myself from my business;
– The things I do daily, determines my success-Don’t consume your sand until you have moulded your block i.e Every cash I have is spendable but I have to deliberately work to build my asset first.
ADEREMI BANJOKO’s SESSION:
In this final session, I was taught that;
– Financial literacy is the ability to make informed judgements and take effective decisions regarding the use and management of money;
-What informs my decisions is the key to financial literacy;
-The only power anyone has over me is my ignorance.
Enlightened wealth is having a balance in this 6 aspects of my life:
1. The Spiritual Aspect.
2. The Social Aspect.
3. The Emotional Aspect.
4. The Intellectual Aspect
5. The Financial Aspect.
6. The Physical Aspect.
– It possible to have a money tree by investing.
-I almost learned extensively about the stock market and how to grow money through investment in the stock market.
2. What do you plan to do following the event?
– I committed to spending less.
– I am committed to saving.
– I committed to investing.
– I plan to re-strategize my business by taking accounts of all my cost, identify my true profit and also completely separate myself from my business.
– I plan to be more dedicated to my tithing i.e 10% of any amount I receive.
– I plan to Save 20%percent of my income and pocket money.
– I plan to open a FBN MM account. Start building my money tree by investing 15% of income and pocket money.
– I plan to develop a strategy around my goals that is making short term goals which are my daily goals that would lead to the achievement of my long term goals.
– I plan to be more self disciplined by spending money on only my needs and not my wants.
– I plan to also put more efforts in my academics.
– Stick to my plans and also Review my progress weekly.
The conference was indeed worth my time. I would like to thank First Bank for putting this together and wish that more of such life changing opportunities are put together in the future.
