Early this year, when I had a job, we came up with an idea to start a saving that could earn us a lot of money individually. It would be very uncomfortable for a while but it was bound to be worth it in the long run.
Our expected monthly payment was about $60 so we decided that every month for the next 6 months because we were 6 in number, we would remove $40, and give it to one person. This meant that every month, one person would take home an additional $200 to their salary.
It was a great idea and after selecting our months, I decided to be the last to receive. It would have been uncomfortable but I was willing to make it work for 2 reasons.
I needed to force myself to have 6 months of job experience. It was necessary at the time because I needed it for a university application and I really didn't feel like having to explain the reason for the gap in my CV.
The next reason I needed to do that was to satisfy some needs at the time. I needed a new phone, I had no idea how I would get the money for it so I felt that was the only way.
Well, those plans went to shit when the salary was slashed by half. I still satisfied my needs, but yeah, no job experience.
My consideration
Recently, a friend of mine sent me details of a similar contribution she thought would be awesome for me to take part in. $10 a week for about 6 weeks. I would get $60 at the end.
I told her I was considering being a part of one of these things but I wasn't so sure.
First of all, these contributions are in Naira. Naira is a shitcoin I hate. Any major business transaction I have in naira feels kind of silly.
First off, most of my earnings come from my activities here, so why would I withdraw money from a rewarding source just to invest in another rewarding venture that may be of less value depending on volatility.
The volatile nature of crypto is something I can deal with, but the uselessness of naira is something I can't always deal with.
A naira savings
So, is saving in the naira necessary? I really don't know. While the currency is shit, it's what I use often. Having the means to earn more of it would still be beneficial to me. I mean, it is still money.
However, due to the fact that the majority of my funds come from here, I don't know how exactly it would be beneficial for me to withdraw crypto to save in naira.
Although I earn a little in naira from some minor jobs I do for a few clients once in a while, it's still not substantial enough to invest in a naira savings of such nature. The payment isn't exactly enough to bank on for a weekly payment over a long period of time.
I'm still yet to put my thoughts together on this matter. Maybe when, or if, I begin to earn some more naira over time it would make sense to me. But for now, I think I'll just focus on what pays and try my best to increase my earning ability here. I still have a lot to learn.
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