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?

Before now, Compounding Interest sounded like some mathematical fuss that every student needed to overcome to forge ahead to the next topic in class but after the “Building a Financially Literate Tribe” exposure, I got to know the secret of wealth that I have always closed up in my Primary School Mathematics Text book.
In the course of the event, I was exposed to the fact that the benefits accruing from Compounding Interest are best recouped when you start early. As early starters tend to benefit more as they can get back to winning ways after getting their fingers burnt as a result of some risky decisions.
Also, starting pretty early helps you dictate a risk appetite that will be in line with your investment’s time horizon. Hence, knowing the appropriate time to take “risky” and “safe” investments.

2. What do you plan to do following the event?

Having gotten one of the best enlightenment in a very long time, I have initiated a daily savings plan of N490 from my bank account into a FinTech database where I’ll recoup about N15,000 monthly that will be put into an investment that I must have learned fully about within the 30 day saving period.
This act will be continued till the year end when I would have had a minimum of N180,000 in investment either in stocks, mutual funds, cryptocurrency, ETFs or as an angel investor in a start up. This investment will solely be meant for a seed capital for my enterprise where the returns from the enterprise will be ploughed back until the seed capital is fully recouped. This investment will then be left to mature into the future to serve as a retirement option taking full advantage of compounding interest.
While this investment decision runs, some others will run concurrently with it to save up for my Masters in Business Analytics/Data Science.