Posted on: 21st Jul 2020
The first half of 2020 started off on such an optimistic note, but with the global COVID-19 pandemic, the year has taken an uncertain turn. It might even seem like the financial goals for 2020 you made have all been derailed.
We are sure that you had lots of plans for the year and July is the best time to reevaluate the progress made on those financial goals in the last few months and set new, realistic goals based on that reassessment. Beyond life, you have to take charge of your finances too.
Not sure about where to start? We have some ideas to help:
1. MAKE A REALISTIC BUDGET AND STICK TO IT
Creating a budget-making habit takes discipline, but once it becomes part of your financial planning arsenal, it is indispensable. It’s important to create an actionable budget that works for every aspect of your life and be realistic about how much you need to spend.
2. SET UP AN EMERGENCY FUND
Recent events have shown us all that emergency funds are indispensable. As much as possible, have at least 3 months of your monthly income stashed away for when things get really rough. Your emergency fund could be a lifesaver.
3. WORK ON CREATING MULTIPLE STREAMS OF INCOME
The key to having multiple streams of income is to find an opportunity or problem and create a solution to it, or to invest strategically. The first approach would create a side-gig for you to operate while you still run your day job, and investing makes sure that your money works for you while you sleep.
4. CREATE A PAYMENT PLAN TO PAY OFF DEBTS YOU MAY HAVE
Debts can seem very oppressive, but it’s much more manageable when you break them down into an easy payment plan. Start paying them off little by little to ease the burden.
5. PUT A SMALL AMOUNT ASIDE PERIODICALLY FOR RENT
Rent comes around every year, so it’s only smart to start early to plan for next year. Put aside a small amount every month instead of waiting until rent month and then taking large amounts of cash that set you back for months. By the time the rent rolls around, you might even have more than the amount you need.
6. START AN EDUCATION FUND TO PROTECT YOUR CHILDREN’S FUTURE
With all the uncertainty in the world right now, life insurance has become even more important. Education insurance, in particular, makes sure that your children’s lives are not disrupted by a tragic event. Whether you are there or not, your dreams for them will stay on track.
The most important day in everybody’s lives is today, so if you want to get ahead in 2020, the best time to start is now. Start making plans, start creating solutions, and making long-term decisions for you and your family today.
To get started, send us a mail at firstname.lastname@example.org. We are always available to help you.
Posted on: 8th Jul 2020
As a religious country, talking about the end would most likely seem like a taboo, however, we all know that it is the one thing that is inevitable which is why it is important to have that conversation with yourself and make plans that will help your dependents when you are no longer here.
Because of this fear, a lot of misconceptions have been passed around over life insurance and we have come up with some of the most common ones backed up with information to make you understand better.
One of the things that are misunderstood about life insurance is how much it costs: the majority of people assume that a life insurance policy will cost them a lot which is not true.
It’s true that there are many varieties of life insurance. But for most people, the best choice is Term Assurance and it is quite straightforward.
With term life, you determine the amount of coverage, say N10,000,000 — and the timespan for your protection is 20 years. If you pay your monthly premiums and die within the term, your beneficiary gets the money.
Online tools make it much easier to research and purchase a policy than it was years ago. You can get a quick quote with the African Alliance Premium Calculator on our website. Check here.
It is better to buy a policy when you are young and it costs the least. For example, the premium calculator shows a policy that costs N3,000 a month at age 30 will cost about N6,000 a month at age 40. Because you’re more likely to develop health problems as you age, the price goes up.
There are many reasons single people should buy life insurance. For example, you may have children, be planning to marry or have aging parents who are financially dependent on you.
It’s important to save for retirement, but a life insurance policy is an important part of a financial plan. The great part is our Term Assurance is fairly inexpensive while also being a great plan that helps you plan for life, you should be able to pay for a policy while saving as well.
Thinking of how to start? Easy, click here to learn more.
Posted on: 30th Apr 2020
With the Covid-19 lockdown, the normal realities of our lives have evolved. For most people, life has shrunk to the size of a few rooms, no parties, no outdoor relaxation, and losing the ability to see friends. The lockdown is important and we have to keep to the directives from the government.
However, while this remains important, it’s also important we look for ways to curb the impact the lockdown is having on us both physically and emotionally. If this is not addressed, it can make us less able to think clearly and work productively.
The next 3 tips will offer you practical steps that can stabilize your state of mind and help you stay happy throughout the lockdown and also after.
Since the lockdown started, many have relaxed on their daily routines and have found themselves bored, disheveled, or even confused. A good routine can improve your lifestyle and enhance your productivity throughout the Covid-19 lockdown.
Setting a routine doesn’t mean you have to get up at the same time as you would have done if you were going out to work. In fact, the lockdown is a good opportunity to rest and relax your body from all the stress it has been through.
Experts have advised that you should aim to wake up and go to bed at approximately the same time each day.
The period of lockdown is a good time to soothe away your stresses. Smile, keep fit and show extra love to your body.
The following tips can help.
With the spread of the coronavirus globally and especially in Nigeria, we naturally feel inclined to keep up with the latest developments and advice. Unfortunately, information overload (from sensational news to fake news and speculations) would most likely increase your anxiety.
Limit how much you tune in to the news, interact with social media, or watch stress-inducing films. Pick an outlet you trust and check in once or twice per day.
Engage in fun activities with your immediate household, research or read good books, online interactions with friends or video calls where you can actually see another human face will really help.
Spend time to think and plan how you can better prepare you and your family to live well in times of unforeseen occurrences such as the Covid-19 lockdown. Your future is what you make it and you have the opportunity to make it the best for you and your loved ones by securing an insurance plan which helps you live a life of peace.
Our plans at African Alliance Insurance give you interest on your savings and a full life insurance cover up to N1,000,000 or more.
Posted on: 23rd Apr 2020
As we are entering the holy month of Ramadan, these are some things you can do to make the best of the holy month.
1. Avoid food waste
As you fast this Ramadan, you can avoid food waste by freezing excesses, reuse leftovers, and blend overripe fruits with yogurt or milk to make smoothies for Sahur.
2. Offer support to friends and neighbors
This Ramadan, offer financial help to friends and neighbors in need and reach out to new Muslims from out of town who may feel alone. Encourage them with calls and kind words to keep them motivated throughout Ramadan.
3. Unplug from worldly things
In Ramadan, our spiritual needs should take priority. This holy month, make effort to unplug or reduce the time and attention spent viewing the television, internet, and all social media channels. Give more time to your spiritual growth and encourage family members to do the same.
4. Stay hydrated
Drink plenty of fluids such as water, freshly squeezed juice, or milk, this will prevent dehydration and provide your body with the essential fluids it needs.
5. Exchange gifts
The world can only be a better place if we help each other, in return Allah rewards us in both worlds. So exchange gifts with each other this Ramadan.
6. Read the Quran
Reflect on the Quran to get closer to Allah this Ramadan, every time you read or listen to the Quran, you will uncover more benefits in this world and in the hereafter.
7. Eat at the right time
In this holy month of Ramadan, always observe sahur and iftar at the appropriate time, these meals keep you nourished through the long fast.
8. Observe your prayers
As you fast this Ramadan, always observe your 5 daily salats and don’t forget your taraweeh every night.
9. Make Dua
As you fast this Ramadan, always observe Nafilah at least 2 rakats every night. It’s the best time for making Dua.
10. Ask for forgiveness
This Ramadan, make it a point of duty to be steadfast. The lockdown is a good time to renew your relationship with Allah without the distraction of daily life.
Lastly, you should check out our Takaful plans for ethical insurance consistent with the dictates of Islam.
May almighty Allah answer our prayers.
Staying indoors can be frustrating but it can also present the opportunity to discover something unique about yourself that will transform your life and your goals.
How do you discover your life purpose during this lockdown?
Write down everything you would like to achieve in the next five years, then break them into smaller goals. It does not matter how big your goals are, just write them down.
For example, if you want to double your income, you need to break down to how much you must achieve each year to get to your long-term goal.
People often overlook the talents or traits that come naturally to them.
Think about what you could be doing with your unique talents and explore those things, no matter how mundane they seem. The easier it is for you, the likelier you have a calling in that area.
Take up hobbies or learn new ways of doing old things. You could discover something you enjoy in the process.
This lockdown is the best time to take up music, arts, cooking, business, writing, strategy or anything else that holds your interest.
Sometimes, we hear stories that connect to us on an emotional level.
Your purpose may lie in the causes that stir your emotions deeply enough for you to try to want to do something about it.
For example, a passion for volunteer work points to a bigger purpose in humanitarian work.
Self-realization takes seeing yourself through the eyes of the people that know you the most.
Ask those around you what they think about you and what they feel you might be interested in.
Now is a great opportunity to seek out someone you admire and respect to mentor you.
There is a lot of time to have deep, long conversations and work on personal and professional growth. A mentor could help you grow towards your purpose in life.
According to Mark Twain, a renowned writer and lecturer “The person who won’t read has no advantage over the one who can’t read.”
Reading can help you work through feelings. The words you read can uplift, entertain and elevate your mood, making you feel happier. You learn about different people, different places, different cultures, and different beliefs. You understand the intricacies of human behavior, actions and that makes you a better decision-maker
While working on today, pay attention to tomorrow. One of the easiest ways to do so is by getting a life insurance plan to ensure that no matter how the future goes, you and your loved ones are safe and secure.
Let’s help you get started on this journey.
Posted on: 17th Apr 2020
It is almost impossible to do anything right now without hearing the word “coronavirus.” The anxiety is real and growing, especially with the extended lockdown period.
While it is normal to be worried, anxiety does more harm than good. So how do you clear your head and make the best out of this challenging situation?
1. Screen all the information you see
As much as there is information, there is also misinformation. Stick to trusted sources such as the NCDC, WHO and relevant government authorities. Compulsively checking the news and social media for updates will fuel your anxiety rather than ease it.
2. Focus on the things you can control
There are so many uncertainties right now, but focusing on questions with unknown answers and circumstances you cannot control is overwhelming. Instead of allowing yourself to get caught in the fear of what might happen, focus on what you can completely control like keeping yourself healthy, tracking your finances and following the health guidelines of NCDC while you observe the lockdown/social distancing.
3. Be intentional about finding calmness
You have to become proactive about finding ways to calm the storm in your head. For some, taking up meditation helps, while others find calm in talking to loved ones. listening to music also helps, and so does writing down the things you’re grateful for every day. Find what works for you.
4. Plan for life
While we are positive that we will all get over this trying time together, you need to plan for tomorrow. You should think of investing in a life insurance plan to keep you secure and confident about the future.
Want to know more about this? Let’s talk today: send us a message on WhatsApp 08130858310 or email email@example.com.
Check out these 5 steps to stay ahead despite the Coronavirus pandemic
Posted on: 1st Apr 2020
COVID-19 has imposed a lockdown on all of us, but like others before it, the pandemic will pass and our world will regain a semblance of normalcy. Truth be told, we know that things will not go back to exactly how they were, but the second quarter of the year has rolled in and if you want to succeed in 2020, you just can’t afford to wait.
So, how do you hit post-lockdown life running? We have some action points for you to start working on today to put you at an advantage in this second quarter of the year.
1. Don’t wait
Now that you are at home, make strategic decisions that will change your life for the better. Don’t procrastinate. Make the tough decisions now.
2. Diversify your Income:
One stream of income may not be the best idea right now. With investments or a side business, you can always come out on top. There are lots of ideas flying around right now, find one that works for you and run with it! The second quarter of the year could be your game-changer.
3. Learn a New Skill
Your skills could determine whether you will emerge a winner after this situation. Netflix and relaxation time is important, but learning is the surest way to thrive. Add a relevant skill to your arsenal to increase your chances in the business environment. Take advantage of online learning resources and skill up!
4. Stay Healthy
Health is everything. Pay attention to your health and that of your loved ones, especially now. Do some exercises, drink lots of water and eat green and rest to boost your immunity.
5. Protect Your Tomorrow
Today is all you have to build a comfortable tomorrow, and one of the surest ways to protect your tomorrow is by ensuring that come what may, the future works for you and your loved ones. Life insurance protects you and the people you love and ensures that their lives will go according to plan, whether you are there or not.
For example, with a little amount of money paid annually, the African Alliance Investment Plus Plan provides you with an added advantage over saving your money in a bank. You could earn a significant amount of interest and enjoy an additional life cover up to N1,000,000!
Want to know how this works? Shoot us a mail at firstname.lastname@example.org, we are always available to help you.
As always, at African Alliance, we are invested in protecting your future. Stay safe!
While you observe social distancing, check out our tips to increase productivity while working from home.
Posted on: 27th Mar 2020
Being stuck at home with your kids because of the pandemic doesn’t mean you have to lose your sanity or drive your kids bonkers with boredom. With a little planning, you can cope through these unique challenges and as always, we have tips to help parents go through this phase as stress-free as possible.
Posted on: 25th Mar 2020
With the lockdown and more people logging into work from home, there has been an increase in the activities of hackers taking advantage of the situation to gain access into people’s private accounts. Home security networks might not have the same protection that office online accounts have, and this creates a porous system that has been exploited by hackers.
There have been serious security breaches in South Africa. Closer to home, the Nigerian Police Force warned about these security risks in a series of tweets, and cyber experts Tech Cabal have also released a report on the recent rise in cybercrime.
Note these cybersecurity tips so that you are not vulnerable to these threats:
1. Separate work and home devices
If you can, use different devices for work and personal activities. It is easier to keep passwords and work details separate, especially when your work contains sensitive information.
2. Use different passwords
One mistake people often make is using one password across different accounts. We agree that it is easier to remember, but it could also turn into a security risk. Create strong passwords for different accounts to prevent a breach that could leak your personal details.
3. Set up 2-step authentication
Instead of one password to log into your work accounts, set up two-step authentication. Google allows you to create a password or code that can be sent to your phone to confirm that you are logging into your account.
4. Use a VPN if you have to connect to a network that you don’t trust
A VPN is a virtual private network that you can use to mask your device’s IP address. It protects your devices from hackers and phishing.
5. Use only your company’s approved sites for work calls and messages
This includes applications, browsers and anti-virus software. Ask your company IT department for guidance if needed.
Protecting your online presence is important, but so is practising good online meeting etiquette and so we put together tips to guide you.
Working remotely is a challenge for most people who depend on the office environment to keep them going at work. It sounds like fun when you don’t have to wake up at the crack of dawn to commute to work, and your bed is always available, but working from home can become boring, unproductive and even lonely.
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