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Comrade, SAPA don catch you? - Issue #25

Consonance Club Newsletter
Consonance Club Newsletter
How are you? How is family?
So, today we’re starting off with a conspiracy theory that I have. 
Actually, when I first started writing this, I was going to start with that, but o tun ti ze o! 
Let’s address the ade ori okin in the room. They’ve finally unbanned Twitter after 222 days in government-induced captivity.
I want to salute the stalwart comrades that held the forte with their coconut heads and VPN. Buy any non-alcoholic wine on Consonance’s tab today! 
Welcome to a ‘bend down select’ dispensation.
About My Conspiracy Theory
So, the thing about the newsletter today is that we’re talking about January and how it has 104 days and it’s one of the brokest months of the year.. 
So, hear me out. 
That rhyme goes 30 days hath September, April, June and November, all the rest have 31 except February alone, which has 28 days but 29 in each leap year.
Now, deep this…
The first month in the year is left out of the honour roll in this song. He’s not given the dignity of being mentioned even though he’s the firstborn.
Then, the exception to the entire 12 months is January’s immediate younger sister: February.
Who’s to say January himself is not the origin of the abnormality himself and he actually is 104 days but capitalists hid this from all of us?
Comrades…fink about it.
And so we’ve come to the real topic of today.
Serious Absence of Purchasing Ability...SAPA
Like I have established before this honourable panel of distinguished Consonancers, January is a long month that is accompanied by Sapalization of the bank accounts.
Let’s do a quick check-in sef. On a scale of 1- 10, how bad has SAPA gotten you?
Izz your December bonus or its lack thereof (sorry freelancers) holding you up?
That reminds me sef, some of you get new year bonuses…omo!! Wahala for the rest of us laikdis o.
Avoiding SAPA And It’s Younger Brothers.
Yeah. Believe it or not Tech bros and Sapa Bros are actually good friends. 
You’d be surprised that techies, even some that work in fintech or at least have a friend that works in fintech, have terrible spending and saving habits.
Big Sheddy 🦅
I was a 19yr old earning $1500/month in 2018 while in school and having no rent to pay or responsibility, made me lose focus 😂 I was eating Turkey everyday, I wasted the money because till today I can’t remember one thing I did with that money I was earning.
So, I am here to help your life. (as I always do without charging you for it)
We’re gonna talk about a few fintechs/apps/communities to join so that you can actually save money and manage your wealth.
  • Please before I proceed, what you shalt see after this sentence does not stand as professional financial advice and I shall not be held liable.
  • Numero dos: any review I give is either personal or a review from someone I interviewed and has used any of these apps.
1. Cowrywise
  • You can save and invest in both naira and dollars.
  • Freaking clean UI.
  • It’s pretty strict with savings. So, if you are ment with spending, Cowrywise is the strict parent for you. It is impossible to break some plans till they mature.
  • Wide variety of savings/investment plans: There’s Emergency Plan, Halal Savings, Naira & Dollar Mutual Funds, there’s even Saving Circles where you can save with friends.
2. PiggyVest
  • You can save & invest in naira and dollars on Piggy.
  • Piggyvest has higher interest rates than certain fintech apps.  
  • Piggy is less strict with breaking plans. You’ll just pay a fine. However, you can only withdraw within a 10-hour interval, which is good for impulsive spenders.
  • Piggy sells the dollar at lower rates than many others. Sometimes it’s the same price across the board sha. But if there are two with the lowest cost to buy dollars I can always bet on Piggy and Risevest.
  • Piggy has Investify where you can invest in certain curated investment plans on their platform. The issue sha is that 80% of the time, the plans are sold out.
3. Risevest
  • Invest in dollars.
  • Super easy/clean UI.
  • It’s great for those that want to invest in dollars but don’t have the experience. 
  • What happens is that you’re investing in Rise’s list of investments. They have a number of stocks and assets they buy and you basically invest in those. 
  • They have three major plans; Real Estate, Fixed Income and Stocks. Just put money and watch it grow (most times)
4. Bamboo/Trove/Chaka
This is where a number of the big boys chill.
  • You get to invest in actual, specific stocks with Bamboo, Trove & Chaka.
  • In fact, you can hold, sell, place a bid on a stock and set it to automatically buy a stock when it dips in price or rises. 
  • The only wahala is that they take a while to remit money when you withdraw. I’ve heard that this is because of compliance actually but they’re safe. 
  • I’ve heard sha that if you’re withdrawing less than 100k, you can actually get your money on the same day if you use Chaka.
Links - Bamboo/Trove/Chaka
5. GetEquity
Again, if you want to cast your financial bread upon the waters (hallelujah somebody!) and increase the way you build wealth, Get Equity is for you.
  • You get to invest in startups of your choice with as low as $10. Basically own a piece of equity in your favourite startup.
6. Cova
Cova just has to be here for very important reasons.
It’s one thing to actually spread your wealth, but like our tech sis here…you might forget you have one money somewhere.
Realised I had small money sitting in one of these apps. Literally forgot.
  • Cova helps you keep track of your money in all the fintechs, traditional banks or anywhere you have money tied, in one place.
  • You can set up a beneficiary feature or next of kin stuff so that God forbid, if you die or something happens to you, your loved ones/beneficiary can access your money and owo o  ko ni jona anyhow. Shey you get.
There’s currently over 170 billion in unclaimed dividends across Nigeria. Don’t add to that statistic dear.
You can also save &  invest with crypto options like Bitnob, Quidax etc.
General Tips
  • You can spread your money across different assets, fintechs, and good investment opportunities. 
  • If you are an impulsive spender, you can receive your salary with one of your fintech accounts and split your money across different savings platforms the minute you receive your salary or payments. 
  • You can create automatic monthly/weekly savings that ensure you save whether you feel like it or not.
  • You can create a percentage of your salary that should go into emergency funds, lifelong/future savings, recurring expenses like rent, black tax and leave the rest for usual spending. 
Omo CC people….hand don tire me today. I will see you people next week. Bye. I love you.
Opportunities and Events.
Yours in Mutual Brokeness,
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