1. What is Personal Finance?

Process of planning and managing one’s personal financial activities from budgeting, savings, spending and investing one’s resources

2. Objectives of Personal Finance

a. Achievement of financial goals

b. Become financially independent i.e. having enough income to pay for one’s reasonable living expenses for the rest of one’s life without having to rely on formal employment.

c. Live a peaceful retirement life.

3. Misconceptions of Personal Finance

a. Only wealthy people need it

b. I am too young to worry about it

c. I am not earning enough now.

d. I have my Pension to fall back on.

4. Personal Finance Tips

a. Set your personal financial goal(s)

Endeavour to answer the following questions (Psalm20:4):

i. Where do you envision your finances in the short to medium term?

ii. What am I saving for?

b. Develop your strategy and tactics to achieve the goal – Be ready to sacrifice, take risks (act/work) and have faith in God.

c. Budget

i Plan your income and expenditure; understand your sources of income and prioritize your expenditures;

ii. Write it down, make it plain and run with it(Hab2:2;Luke14:28)

iii. There are several apps/tools/excel templates that can help in developing a budget

d. Be Disciplined. Cut off unnecessary expenses.

e. Invest: Do not despise the days of little beginnings; start small, think big! Make sure that at least 10% of your income goes into investments.

f. Pay your debts/loans: Try to pay more than the minimum repayment amount and ensure you keep your integrity by paying back as and when due

g. Proactively Plan your estate: Write a will without which the Government will take at least 10% of estate.

h. Get Insurance (especially on your priced assets)–Transfer the risk

I. Consult the Professionals; Reputable Asset Management / Stockbroking firms.

5. Types of Investments

a. Short Term Fixed Investments – Investment with maturity period of one year or less with Principal and Interest are paid at maturity.

b. Mutual Funds – Pool of funds managed by professional Asset Managers; minimum investment as low as N5,000

c. Treasury Bills / Commercial Papers – Short Term Instruments (maturity of one year or less). Treasury Bills are Government backed and highly secure whilst Commercial Papers need to be vetted by Professionals before taking investment decision.

d. FGN Saving Bonds – Government backed Debt Instrument. Minimum subscription is N5,000.

e. Eurobonds – Dollar denominated investment which can help hedge the devaluation of Naira

f. Equities – Shares in companies within and outside Nigeria; yes, invest in shares offshore but contact a Financial Advisor and do your research properly.

g. Real Estate

6. Smart Cashflow habits

a. Avoid impulse buying – Practice delayed gratification

b. Don’t spend what you have not earned

c. Ensure you have your Emergency Fund– Save for the rainy day

d. Don’t buy what you do not need – “Want” is not “Need”.

e. Don’t live to impress people – Spend wisely

f. Scrutinize your bank statement – Unauthorized debits happen.

Written by:

Yemi Olufidipe
Financial Secretary

The Challenges we have faced in the last one year is more than enough to break any human spirit, make one to despair and at the verge of giving it all up altogether. Here we are today by God’s grace and still waxing in Him. To some, they are still passing through difficult times and the Bible is always there for us in all situations.

There is nothing new under the sun and what is has always being. The Psalmist in the above scripture enunciated that the fathers of faith in times past had their own fair of challenges but the
faithful God who is still on the throne saw them through (I Cor 10:13)

For thou, O God, hast proved us; thou has tried us, as silver is tried. Thou broughtest us into the net; thou laidst affliction upon our loins. Thou hast caused men to ride over our heads; we went through fire and through water: BUT thou broughtest us out into a wealthy place.

Psalms 66:10 – 12..

We are encouraged in the scriptures to give thanks ‘’in everything’’ and not ‘’for everything’’. There are certain experiences you have and you wonder if you can give thanks ‘’for’’ that situation, but the scripture enjoins us to give thanks ‘’in everything’’.

Therefore brethren, let us obey the word of the Lord and begins to see a turnaround in our situations. There are many words of comfort from the Lord and we need to the word so that it can become flesh in our situations (Isa 54:3 -5).

Now unto Him who is able to keep you without falling, I commit you and all yours now and forevermore.
Shalom.

Your Brother and Friend,
AWONIYI Olajide Michael
President

1. Continuity of Shared Values:
   The ASF, at its core, is more than just a student group; it’s a community bound by shared Christian values and beliefs. Being part of the Alumni Fellowship ensures that these values continue to be a guiding force in one’s life, even after leaving the university. It serves as a reminder of the spiritual foundation laid during those formative years and encourages members to uphold these principles in their personal and professional lives.
2. Networking Opportunities: In today’s interconnected world, networking is invaluable. The Alumni Fellowship provides a platform for its members to connect with professionals from various fields, all of whom share the same foundational beliefs. This can lead to job opportunities, business partnerships, or collaborations that might not have been possible otherwise.
3. Giving Back:
   For many, the ASF was a source of support, guidance, and camaraderie during their time at OAU. Being part of the Alumni Fellowship offers an opportunity to give back to this community. Alumni can mentor current students, provide financial support, or even offer internships and job opportunities, ensuring that the ASF continues to thrive and support its members.
4. Lifelong Friendships:
   The bonds formed during one’s time at the university are often lifelong. The Alumni Fellowship ensures that these friendships continue to flourish. Regular meet-ups, reunions, and events provide a chance to reconnect with old friends, reminisce about shared memories, and create new ones.

5. Spiritual Growth:
   The journey of faith is continuous. Being part of the Alumni Fellowship ensures that one remains connected to a community that prioritizes spiritual growth. Regular meetings, retreats, and seminars provide members with the opportunity to delve deeper into their faith, seek guidance, and grow closer to God.
6. Legacy Building:
   Every alumnus carries with them the legacy of the ASF and OAU. By being an active member of the Alumni Fellowship, one can contribute to shaping the future of this legacy. Whether it’s through active participation, financial contributions, or simply by sharing one’s experiences with current students, every alumnus has a role to play in ensuring that the ASF’s legacy continues to shine brightly.

In conclusion, being part of the Alumni Fellowship of the Anglican Student’s Fellowship is not just about reliving the past; it’s about building a future. It’s about ensuring that the values, beliefs, and bonds formed during one’s time at OAU continue to play a pivotal role in one’s life. It’s about being part of a community that supports, nurtures, and uplifts its members, no matter where they are in their journey. For those fortunate enough to have been part of the ASF during their time at OAU, the Alumni Fellowship is a golden opportunity to ensure that this unique experience continues to enrich their lives.