Business Edge Money Monday: Elements of Personal Finance

#MoneyMonday: Elements of Personal Finance

Every Monday on Business Edge, Money Monday takes a look at personal finance for individuals. This includes all facets of individual finance and financial planning – investments, pensions, real estate, insurance, budgeting and more. 

On the first edition of Money Monday, the segment explores elements of personal finance with Raphael Emenyonu, Regional Head, Business Development (Lagos) at  ARM Investment Managers Limited joining Lekan Onabanjo.

“Personal finance is beyond savings: rather, it is putting money aside in a convenient manner in order to maximize funds in terms of putting it in the right instruments as it aligns with one’s financial goals,” Emenyonu says as he explains the term itself and what it seeks to achieve.

However, there are basic elements to follow as one looks toward financial freedom. Personal finance will include savings and investments for short and long-term goals, diversification of portfolios so as to be protected in case one fails, as well as insurance to protect assets.

Part 2 of Business Edge also includes international business headlines that take a look at happenings outside of the African continent. Some of the headlines on the Business Edge radar are the United States inflation rate which has increased to a forty-year high, the contraction of the UK economy in April, the UAE extradition pact that seeks to fight corruption, the losses incurred by South Korean steel producers in light of strike action by lorry drivers in that country, and the record decline in Bitcoin and Ethereum prices.

Watch in full above.

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