Do you ever feel as if your business is stuck on a treadmill? Despite your best efforts, the scenery is staying the same. Customer engagement is flat, sales are stagnating, and it appears that your once-ambitious vision is vanishing.
Be not alarmed if this sounds like you! It is a typical occurrence for companies of all kinds. However, it also indicates that you may require a growth strategy, which is a plan of action to advance your company and reach your major objectives.
Here are three indicators that your business needs a growth strategy:
Stagnant Sales: Do your monthly business sales figures seem to be stagnating? This can mean that your present consumer base or marketing strategy has hit its limit. You may find new markets for your products, improve your marketing strategies, and boost sales with the aid of a growth strategy.
Ineffective Operations: Has overseeing your daily operations become more difficult and time-consuming? This may hinder your development and make you feel overburdened. A well-defined growth strategy will frequently entail streamlining processes, integrating new technologies (such as VTpass!), and optimizing workflows to free up critical time and resources.
Absence of Innovation: Do you feel unmotivated and confined to your comfort zone? Innovation is essential to sustained business growth. Whether it’s creating new goods or services, investigating uncharted territory, or adopting novel marketing techniques, a growth plan can assist you in identifying opportunities for innovation.
So how can VTpass support the expansion of your company?
Here are a handful of methods:
Enhanced Inventory & Sales Efficiency: VTpass streamlines inventory tracking, streamlines sales transactions, and offers insightful data. This allows you to concentrate on projects related to growth.
Enhanced Customer Engagement: VTpass enables you to provide a consistent customer experience by offering a variety of payment choices, loyalty programs, and speedier checkouts. This promotes repeat business and increases client happiness.
Data-Driven Decision Making:VTpass offers insightful customer and sales data. This gives you the ability to decide on marketing tactics, product lines, and the general course of your company with knowledge.
Auto insurance is necessary, but managing it can occasionally feel like a chore. It can be very difficult to sort through prices, handle paperwork, and understand complicated policies. But what if getting trustworthy auto insurance could be done more quickly and easily? Introducing VTpass, your one-stop shop for affordable, timely, and simple auto insurance
Why Opt for VTpass Auto Insurance?
Effortless Online Process: Eliminate agent visits and phone calls. With VTpass, you can compare rates and complete your online auto insurance purchase, saving you a ton of time and aggravation. Instant Coverage: Your auto insurance coverage begins as soon as you select a plan and pay your premium. Traveling with peace of mind—no waiting, no delays. Clear Pricing: There are no additional or unexpected costs. VTpass provides upfront pricing that is both transparent and unambiguous, letting you know precisely what you’re getting. Numerous Insurance Choices: Select the one that best suits your requirements. With the range of auto insurance policies that VTpass offers from respectable companies, you can be sure to acquire the coverage you require at a reasonable cost.
Smooth Integration: VTpass easily integrates with the current service portfolio. With our user-friendly app, you can conveniently manage your airtime purchases, data top-ups, and electricity bill payments in addition to your auto insurance.
VTpass Goes Beyond Convenience:
We understand that navigating the claims process after an accident can be stressful. They work with you to ensure a smooth and efficient claims experience, getting you back on the road as quickly as possible.
Don’t Wait Until It’s Too Late:
Getting car insurance with VTpass is a breeze. In a few simple steps, you can be cruising with confidence:
Complete the online application and pay your premium.
That’s it! You’re now covered! VTpass empowers you to prioritize your safety and financial security on the road. So, why wait?Choose VTpass today and experience a simpler, faster way to get the car insurance you deserve!
In today’s fast-paced world, your ability to communicate effectively is paramount, whether you’re growing your business or building personal relationships. That’s where SMSclone comes in – as Nigeria’s leading BulkSMS service provider since 2010. It’s dedicated to revolutionising the way you send and receive messages.
Drive Your Business Forward
In the competitive landscape of business, every connection you make is an opportunity for growth. SMSclone puts the power in your hands to instantly reach your audience with promotional offers, updates, and critical announcements. By leveraging SMSclone’s reliable platform, you can boost customer engagement, drive sales, and propel your business to new heights.
Streamline Your Operations, Enhance Your Efficiency
Beyond customer communication, SMSclone streamlines your internal operations, enabling you to communicate effectively with your team, partners, and stakeholders. Whether you’re sharing important information or coordinating schedules, SMSclone ensures that your crucial messages are delivered promptly. this minimises delays and fosters collaboration across all levels of your organisation.
Additionally, SMSclone’s automated messaging features empower you to streamline repetitive tasks, saving you time and resources. From appointment reminders to payment notifications, you can automate routine communications, freeing up valuable manpower to focus on strategic campaigns and core business objectives.
Deepen Your Personal Connections
With SMSclone’s intuitive interface and instant delivery, you can share heartfelt messages, memorable moments, and special greetings with ease. Whether it’s a spontaneous gesture of kindness or a heartfelt expression of gratitude, SMSclone ensures that every message you send is delivered promptly, strengthening your bonds and fostering deeper connections with your loved ones.
In a world where communication is crucial, SMSclone puts the power in your hands, offering you a comprehensive suite of features and benefits to drive your success forward. Whether you’re growing your business or enhancing your efficiency, SMSclone empowers you to unlock your full potential—all with the tap of a button. So why settle for mediocrity when you can unleash the full power of SMSclone? Sign up today and experience the difference for yourself.
At VTpass, we’re committed to making constant improvements to our platform to give you the greatest payment experience possible. We’re happy to share the news of the release of our most recent VTpass app updates, bursting with innovative features and improvements meant to elevate your experience. We’ll look more closely at the updates and how they can help you in this blog article.
What’s new On The Updated VTpass App
1. Sleek User Interface: We’ve updated the appearance of the VTpass app by adding a sleek, contemporary user interface. You may easily navigate the app and have a flawless user experience from beginning to end.
2. Improved Performance: We’ve made performance improvements to the app, guaranteeing quicker loads and more seamless transitions. You can always have flawless performance with VTpass; say goodbye to buffering and lagging.
3. New Features: Prepare to explore fascinating new features that will completely transform the way you use the VTpass app. We’re adding a number of new features to improve your experience, such as tailored suggestions, enhanced search capabilities, and even more flexible payments.
4. Enhanced Security: We put your security first. We’ve added more security measures as a result to safeguard your information and provide a secure browsing environment. You may browse with confidence knowing that your privacy is safeguarded when you use the VtPass app
5. Bug Fixes: To guarantee a more dependable and seamless experience, we’ve eliminated bothersome bugs and taken care of concerns brought to our attention by users. You can enjoy the new app with fewer disruptions and more peace of mind thanks to our most recent upgrades.
How Beneficial the App Will Be:
Smooth Experience: Take advantage of faster loading times and more fluid transitions and transactions when paying.
Improved Features: Learn about fresh features that streamline your payment and allow you to customise your experience.
Enhanced Security: make payments with assurance knowing that cutting-edge security measures are preserving your data.
Increased Reliability: With our most recent bug fixes and performance enhancements, you’ll have fewer disruptions and a more dependable app experience.
Are you prepared to use the VTpass app with the most recent updates? Just upgrade your app to the most recent version to begin taking advantage of these fantastic new payment additions and improvements. We’re sure you’ll like what’s in store. Make sure to download the app from the Apple and Play Store.
Jamb prep can be difficult enough without having to deal with the additional burden of payment procedures. This is why VTpass is here to make your path to success easier by providing easy online exam payment options. We’ll go over how the vtpass platform simplifies JAMB e-PIN payments in this blog post so you can concentrate on what really matters—getting A+ grades on your exams.
The Stress of UTME Exam Payments
We students are all too familiar with the strain that comes with the Jamb/UTME season. You already have enough stress from studying hard and making sure all administrative duties are completed; the last thing you need is to have to deal with challenging payment procedures. Long lines, tedious paperwork, and the possibility of delays are common features of traditional techniques, which can negatively affect your concentration and planning.
Enter VTpass; your Direct Entry exam payment solution.
Exam payment is made simple using the cutting-edge VTpass online payment system. Here’s how we ensure a stress-free and seamless process:
Easy Accessibility at Your Fingertips:
With just a few button clicks on our intuitive site, you may finish JAMB, e-PIN payments from the convenience of your home. Exam costs can now be paid for whenever and wherever you choose on our platform. No more racing to payment locations or lugging around heavy paperwork.
Quick Transactions:
Bid farewell to longer transaction waits and delays. You may confirm your utme exam fees in a matter of seconds thanks to our secure payment gateway, which guarantees that your transactions are processed quickly. You can feel secure knowing that payments from our website will be made on schedule, providing you comfort during exam season.
Safe and Reliable
The protection of your financial and personal data is our top priority at VTpass. Our platform protects your data using cutting-edge encryption methods to make sure that no unauthorised parties can access it or compromise your transactions. You can be sure that your jamb number and all information is secure when you partner with us.
How to buy JAMB e-pin for UTME and Direct Entry
Log on to vtpass.com
2. Navigate to Education Payment
3. Fill in the correct details. Exam type, jamb profile ID, Phone number, email address,
4. Make sure the details are correct.
5. Make Payment: You can pay with a card, bank transfer, or USSD.
6. Payment Confirmation: You will immediately get a receipt to confirm your payment.
Ultimately, VTpass is dedicated to making exam payment simpler and freeing up students to concentrate on what really counts—achieving academic excellence. You may rely on us to manage your exam payments with ease thanks to our user-friendly interface, quick transactions, and excellent security features. Reject anxiety and welcome prosperity when VtPass is by your side.
Are you ready to experience convenience? Click here to get started.
In the fast-paced world of today, time is of the essence, you cannot afford to miss a due date. We’re constantly juggling work, family, and social commitments, leaving us with very little time for mundane tasks. Paying bills and managing due dates can be one such tedious chore that often slips through the cracks, resulting in late fees, penalties, and unnecessary stress. But fear not! There’s a solution that can help you stay on top of your bills and never miss a due date again: Vtpass.
We’ve all been there – the frantic rush to pay bills before the due date. Whether it’s your electricity, water, cable TV, internet, or mobile phone bill, managing these expenses can be daunting. Life is busy, and remembering due dates for multiple bills is a struggle. This is where Vtpass comes to the rescue.
Vtpass is a revolutionary online platform that simplifies paying bills and purchasing airtime, data, and other services. With Vtpass, you can access a wide range of services, all in one place.
How Vtpass Works to help you avoid missing a due date
Vtpass operates on a simple yet highly efficient model. Here’s how it works:
1. Create an Account: To get started with Vtpass, you need to create an account on their platform. This is a one-time process and takes just a few minutes.
2. Select Your Service: Once your account is set up, you can start using Vtpass for a wide range of services. You can pay bills, purchase airtime, buy data bundles, renew your cable TV subscription, and more.
3. Enter Details: For bill payments, you need to enter the necessary details, such as your meter number, decoder iuc or other required information. Vtpass makes it easy by providing clear instructions for each biller.
4. Review and Confirm: After entering the details, you can review your transaction to ensure everything is correct. Once you’re satisfied, confirm the payment.
5. Make Payment: Vtpass offers multiple payment options, including debit cards, internet banking, and even pay with the funds in your Vtpass wallet.
6. Receive Confirmation: After a successful payment, you will receive a confirmation message and a payment receipt for your records.
The Advantages of Using Vtpass
Using Vtpass to manage your bills and payments offers several advantages:
1. Convenience
Vtpass simplifies the entire process of bill payments. You can complete your transactions from the comfort of your home or office, without the need to visit multiple offices or stand in long queues. This convenience saves you valuable time and effort.
2. Accessibility
Vtpass is available 24/7, which means you can pay your bills and purchase services at any time that suits you. Whether it’s early in the morning or late at night, Vtpass is always there for you.
3. Variety of services
Vtpass offers a wide range of services, including electricity, water, cable TV, internet, mobile recharge, and even educational services. This variety ensures that you can handle all your financial and service-related transactions in one place.
4. Timely Reminders:
One of the key features of Vtpass is the option to set up reminders for your bill due dates. You’ll receive notifications well in advance, helping you stay organized and avoid late payments.
5. Secure Payments
Vtpass employs state-of-the-art security measures to protect your financial information and transactions. You can trust that your payments are secure and your data is protected.
6. Instant Transactions
No more waiting for hours or days for your payments to reflect. Vtpass ensures that your transactions are processed instantly, so you don’t have to worry about overdue bills.
How to Get Started with Vtpass
Getting started with Vtpass is a straightforward process:
1. Create an Account: Visit Vtpass and sign up for an account. You’ll need to provide your basic information, such as your name, email address, and phone number
2. Browse Available Services: Once you have an account, explore the wide range of services that Vtpass offers. You can choose from bill payment categories like electricity, water, cable TV, and more.
3. Enter Bill Details: Select the service you want to pay for and enter the required details, such as your customer ID or meter number.
4. Review and Confirm: Double-check all the information you’ve entered and confirm that everything is correct.
5. Make Payment: Choose your preferred payment method. Vtpass supports various payment options, including debit cards, internet banking, and Pay with Vtpass credit.
6. Receive Confirmation: After a successful payment, you’ll receive a confirmation message along with a receipt.
Tips for Using Vtpass Effectively
To ensure that you make the most of Vtpass and never miss a due date again, consider the following tips:
1. Set Up Reminders
Take advantage of the reminder feature on Vtpass. Set up reminders for all your due dates, and customize them to your preferences. You can receive reminders via email or SMS, whichever you find more convenient.
2. Plan Ahead
Don’t wait until the last minute to make your payments. As soon as you receive a reminder, plan your payments and complete them ahead of the due date to avoid any last-minute stress.
3. Use the Vtpass Wallet
Vtpass offers a wallet feature where you can preload funds. This is a great way to streamline your payments, as you don’t have to enter your payment details every time you make a transaction. Plus, you can earn rewards for using the wallet.
4. Keep Records
Always keep a record of your transactions. Vtpass provides receipts for all your payments, which you can save for future reference. This
is especially useful for tracking your expenses and ensuring that your payments are properly processed.
5. Stay Informed
Regularly check your email and mobile phone for Vtpass reminders and updates. Staying informed about your upcoming bills and transactions is crucial for managing your finances effectively.
Real-Life Scenario: How Vtpass Can Save the Day
To better understand the impact of Vtpass on everyday life, let’s explore a few real-life scenarios:
Scenario 1: The Forgetful Parent
Meet Sarah, a busy working mom with two children. Her life is a constant juggle between work, school runs, and household chores. In the midst of all this chaos, Sarah sometimes forgets to pay her electricity bill on time, leading to annoying power outages. With Vtpass’s automated reminders, Sarah can now set up notifications for her electricity bill due date. This ensures that she never forgets to pay her bill, and her family enjoys uninterrupted power supply.
Scenario 2: The Frequent Traveler
John is a frequent traveler who often forgets to renew his cable TV subscription. He’s on the road so often that managing bills becomes a daunting task. Using Vtpass, John can schedule reminders for his subscription renewal. Even when he’s away, he receives timely notifications and can complete his payments from anywhere in the world. This way, he never misses his favorite shows.
Conclusion
By using Vtpass, you can take control of your finances, stay organized, and never miss a due date again. Say goodbye to the hassle of bill management and embrace the convenience of Vtpass for a more stress-free and efficient life.
So, why not give Vtpass a try today and experience the benefits for yourself? Say goodbye to overdue bills and late fees – streamline your payment experience with Vtpass, and regain control of your financial life.
In the modern era, financial inclusion is no longer a luxury but a necessity. Access to financial services, especially in emerging economies like Nigeria, plays a pivotal role in improving the livelihoods of the underprivileged and driving economic growth. As a result, digital payments have emerged as a potent tool in achieving these goals.
Understanding Financial Inclusion
To begin with, financial inclusion is the process of ensuring that individuals and businesses have access to affordable, convenient, and secure financial services. These services can range from simple savings and payment accounts to more complex financial products like loans and insurance. In the context of Nigeria, achieving financial inclusion is crucial due to the significant portion of the population that remains unbanked or underbanked.
First and foremost, Nigeria has one of the highest mobile phone penetration rates in Africa. According to the Nigerian Communications Commission (NCC), there were over 196 million mobile subscribers in Nigeria as of 2020. This widespread use of mobile phones serves as the foundation for digital payment systems.
GOVERNMENT INITIATIVES
Moreover, the Central Bank of Nigeria (CBN) has actively promoted financial inclusion through various policies and initiatives. The “Cashless Nigeria” policy and the “National Financial Inclusion Strategy” have played crucial roles in encouraging the adoption of digital payments.
FINTECH INNOVATION
Furthermore, the rise of fintech companies in Nigeria has introduced a wave of innovative financial products and services. These companies have leveraged technology to provide digital payment solutions that cater to the needs of a wide range of customers, including those in underserved and rural areas.
Key Digital Payment Methods in Nigeria
Digital payments have had a transformative impact on financial inclusion in Nigeria. Here are some of the ways in which they have empowered individuals and businesses:
ACCESSIBILITY:
In particular, digital payment methods are accessible to individuals regardless of their location. Rural and underserved areas have seen a significant improvement in access to financial services through mobile apps and USSD banking.
AFFORDABILITY:
Also, digital payments are often more cost-effective than traditional banking. There are fewer fees associated with maintaining digital wallets or conducting transactions through mobile phones.
SECURITY:
Digital payments provide a secure way to store and transfer money, reducing the risks associated with carrying cash.
INCLUSION OF INFORMAL SECTOR
Many individuals engaged in the informal sector, such as small traders and artisans, now have access to financial services, enabling them to save and grow their businesses.
FINANCIAL LITERACY
The use of digital payments has contributed to an increase in financial literacy among Nigerians. Users become more familiar with banking concepts and practices through regular use.
Challenges and Opportunities
While digital payments have made significant strides in Nigeria, several challenges and opportunities remain:
INFRASTRUCTURE AND CONNECTIVITY
Limited access to the internet and mobile network coverage in some rural areas can hinder the growth of digital payments. Investments in infrastructure are needed to address this issue.
CYBER-SECURITY
With the growth of digital payments, the risk of cybercrimes and fraud has also increased. There is a need for robust cybersecurity measures and awareness campaigns to protect users.
FINANCIAL LITERACY
Despite the increase in financial literacy due to digital payments, there is still a need for educational campaigns to enhance users’ understanding of digital financial services.
PARTNERSHIP
Collaboration between financial institutions, fintech companies like Vtpass, and telecom operators can foster the development of innovative solutions and improve financial inclusion.
CROSS-BORDER TRANSACTION
Enhancing the capabilities for cross-border digital transactions can facilitate international trade and the influx of remittances.
CONCLUSION
Digital payments in Nigeria have emerged as a powerful tool in advancing financial inclusion. The widespread adoption of mobile phones, coupled with government initiatives and fintech innovation, has enabled millions to access affordable and secure financial services. While challenges remain, the future looks promising as the digital payments landscape continues to evolve, making strides in improving the financial well-being of Nigerians and propelling the nation towards greater economic growth. Financial inclusion is not just a buzzword but a tangible goal within reach, thanks to the modern era of digital payments.
To conclude, as Nigeria continues to develop its digital payments ecosystem, it is imperative that all stakeholders – government, financial institutions, fintech companies, and consumers – work together to overcome challenges and seize opportunities to ensure that financial inclusion becomes a reality for all. The journey has begun, and the destination is a more prosperous and financially inclusive Nigeria.
Guess what time it is? It’s that wonderful week of the year when we put on our celebration hats, crank up the confetti cannons, and dance to the rhythm of gratitude. That’s right – it’s Customer Service Week, and we’re here to party with you! 🎈
At Vtpass, we believe that every week should be Customer Service Week. But hey, dedicating a whole week to celebrate our rockstar support team and, of course, our incredible customers? That’s just icing on the cake.
At VTpass, we strongly believe that customer service is not merely a department within our organisation; it’s a deeply ingrained culture that permeates every facet of our operations. Each interaction, every innovation, and every upgrade is meticulously designed not just to meet, but also to consistently exceed the expectations of our cherished customers.
While we acknowledge that we’re not flawless, we are committed to the path of continuous improvement. As we navigate this journey from where we are to where we aspire to be, we extend our heartfelt gratitude to you, our invaluable customers, for standing by us every step of the way. While Customer Service Week is a designated time for celebration, please know that we celebrate you every day for being the driving force that keeps our lights on.
CUSTOMER APPRECIATION
In this extended exploration of our commitment to customer service, we intend to delve deeper into the essence of VTpass’s customer-centric philosophy. With over a decade of serving you, we reaffirm our dedication to delivering the highest level of service excellence. This includes our unwavering pledge to continually refine and optimise your VTpass experience, as well as our tireless efforts to brainstorm and innovate, all in the pursuit of answering the question, “What more can we give you?”
Our Journey Together: Reflecting on Progress
As we traverse the path of steady growth and evolution, one thing remains immutable. That our customers are, have always been, and will forever be our numero uno priority. Our customer-first ethos serves as our North Star, guiding us through every decision, every strategy, and every interaction.
It’s only fitting that we take a moment to reflect on our journey together. VTpass has evolved from its inception, and this evolution is a direct result of our commitment to listening, learning, and adapting based on your valuable feedback.
From the very beginning, we have strived to offer a seamless platform for your various needs, whether it’s bill payments, mobile top-ups, insurance, or other essential services. We’ve worked diligently to ensure that our platform remains user-friendly, secure, and efficient.
Customer service week
The VTpass Experience: An Ongoing Upgrade
One of our core principles is never settling for the status quo. We acknowledge that technology and customer expectations are in constant flux. Therefore, we have made it our mission to evolve with these changes, ensuring that VTpass consistently offers a best-in-class experience.
Our development and tech teams work tirelessly behind the scenes to bring you regular updates, enhancements, and optimizations. We’ve embraced the feedback loop with open arms, using your insights to inform our platform’s evolution.
What’s in the Pipeline: “What More Can We Give to You?”
The question of “What more can we give to you?” is more than just a rhetorical one. It’s a mantra that drives our innovation.
We’re expanding our services to cater to a wider spectrum of your needs. From new billers and insurers to enhanced security measures and a sleeker user interface, we’re pulling out all the stops to ensure that VTpass remains your preferred one-stop solution.
You: Our North Star
In closing, we want to express our deepest appreciation to each and every one of you. Your unwavering trust, your invaluable feedback, and your continued patronage fuel our drive to excel. Customer Service Week may have an official start and end date, but rest assured, our celebration of you knows no bounds and has no time constraints.
Thank you for being the heartbeat of VTpass. Here’s to many more years of partnership, innovation, and celebration. Together, we’ll continue to illuminate the path forward. Whenever you experience any issues, rest assured that we will help resolve them. You can always send an email to support@vtpass.com, call our active support line on 09087482377, use the live chat feature on the website, or contact us via our social media channels (Facebook, Instagram, and Twitter.)
Hey there, savvy bill-payers! Are you tired of managing utility bills? Say hello to convenience and control with VTPass! In this post, we’ll help you master your utility bills payment with VTpass like a pro. Let’s dive in! Don’t just manage your utility bills, make them work for you! With VTPass, you’ll be able to take control of your payments and finally have peace of mind. Let’s get started and learn how to master your utility bill payments!
Understanding the Basics: 💡📋
First things first, let’s break it down. Utility bills can be complex, but VTPass simplifies it all. Whether it’s electricity, water, internet, or any other essential service – you name it, we’ve got you covered. VTPass allows you to view and manage all of your utility bills in one place, making it easier to understand and keep track of your spending.
Easy Sign-Up & Navigation: 📱👆
Getting started with VTPass is easy. With our user-friendly platform, you can complete the sign-up process in just a few clicks. It’s intuitive and hassle-free, ensuring a seamless experience for everyone. You can complete the sign-up and sign-in process in just a few clicks. Once you sign up, you’ll gain access to all our products and services.
Real-time Payments: ⚡️🔄
Remember the frustration of waiting for hours or even days for your payments to reflect? That’s a thing of the past with VTPass. Experience the magical realm of real-time payments and relish the peace of mind that accompanies prompt settlement of your bills.
Safe & Secure Transactions: 🔒🛡️
Security is paramount, especially when it comes to your hard-earned money. At VTPass, we take your security seriously. We design our platform with advanced security measures to ensure the safety of your data and secure transactions. Your peace of mind is our top priority, always.
We understand that questions can arise at any time. That’s why our friendly customer support team is here for you, 24/7. Whether you have a query or need assistance with any aspect of your bill payments, we’re just a phone call away. With VTPass, you’re never alone on your smart paying journey.
And there you have it, folks! Mastering your utility bills payment with VTpass has never been this easy. Say goodbye to stress and hello to convenience with VTPass. Ready to take control of your bill payments and simplify your life? Start your smart paying journey today and experience the difference for yourself! 🏠💡💳
Most people have learned the benefits of setting money aside for unexpected expenses. Want to hear something absurd, though? The majority of deposits today result in losses.
But, surprisingly, even with these losses, people still insist on saving money for future use.
How is that possible? The reality is that your money will actually be WORTH LESS in the future than it is now. This is if interest rates, which the bank pays you in exchange for deposits, are lower than inflation. Saving money is still how we accumulate funds for significant life events like weddings, a first home, or a family emergency. This doesn’t mean saving is bad. And it is obvious without saying that depositing money in a bank is much safer than hiding it under a mattress.
It is also noteworthy that current accounts in Nigeria accrue no interest irrespective of the tenor the money is kept.
Your money in a bank account can only yield 3% per annum. Instead of keeping your funds in a savings account with a commercial bank, here are 3 ways to use your money well.
OPEN A FIXED DEPOSITT:
The majority of people don’t know about fixed deposit accounts. Investment deposit accounts are different from savings and current accounts because they are investment accounts. By investing your money at an agreed rate within a specified period of time, you’re reinvesting your money at a fixed rate. Depending on the institution, accrued interest rates may differ.
Fixed deposit accounts are attractive because they provide a guaranteed return on your investment, as long as you leave your money in the account for the entire duration of the fixed period. This means that you can be sure that your money will be safe and that you will make a profit at the end of the period.
In certain conditions, you can terminate your tour account before the due date, known as tenor.
CONSIDER INVESTING IN BUSINESS OR START –UPS
You can utilize your capital in running a side business, or work streams that bring passive income. You can take part in a start-up if you have enough capital. With this you have the opportunity to invest in high growth companies for the future.
This can be a great way to increase your income without having to put in the same amount of time as a full-time job. And, if you are investing in start-ups, you can potentially get a great return on your investment and benefit from the growth of the company.
INVEST IN STOCKS AND BONDS
Diversify your portfolio in your investment journey. Having all your money in one investment increases risk. If that single investment fails, all your money could be lost. Investment is a long term strategy for building wealth The most successful investor invests early, then allows the money to grow for many years before using it. Invest in diverse forms, and you will know what to do next.
Diversification helps to spread out the risk of your investments. By investing in a variety of different assets, you can mitigate the risk of any single investment failing drastically. This allows you to create a more stable portfolio that can handle market fluctuations over time, while still allowing you to benefit from the growth of your investments.
No matter what you are saving or investing in, have a specific set of goals. Know what you are working towards, as this will focus your spending and motivate you.
If you are looking for a strong motivation to propel you into doing more, then it would be good news to know that vtpass.com can provide the incentive for you to work faster and more convenient. At vtpass.com, we make for quick and convenient means of paying all pending bills. Just by logging in to vtpass.com, you can pay for your phone airtime- Etisalat,Airtel, MTN, GLO; your TV subscription, electricity bills, data subscription and so on.
