5 Places to Invest Your July Salary

Are you looking to make the most of your July salary and secure your financial future? Look no further! 

In this fast-paced world of opportunities, there are several promising places where you can wisely invest your hard-earned money. 

Whether you are a seasoned investor or just starting, these options offer a path towards potential growth, security, and prosperity. 

So, let’s dive in and explore the enticing landscape of investment possibilities that will empower your finances and prepare you for the days ahead.

Stocks

Artificial Intelligence (AI) and Oil and gas stocks are a good place to invest your July salary. Some of these AI stocks include Nvidia, IBM, Microsoft,  Amazon, etc. While Oil and Gas stocks include Obsidian Energy Ltd, Vital Energy, SilverBow Resources Inc, Frontline PLC, etc

Before investing your salary into these stocks, it is important to diversify your portfolio and stay up to date with the latest advancements and news in both industries. 

Startups like Bamboo have made the entire process of trading U.S. stocks from Nigeria easy. All you need is a smartphone, a strong internet connection, and the Bamboo app to get started.

Treasury Bills

Investing in treasury bills is no doubt a great place to put your July salary because they are offered at a discounted price and do not attract any monthly interest payments during the tenure of your investment. 

Also, with treasury bills, you need not worry about the security of your investment because they are issued by the Nigerian government with a guaranteed interest rate. Another interesting reason, why you should put your salary here is that the interest earned is not subject to tax. 

The minimum amount of a treasury bill is N50,000 while the maximum is subject to the availability in the market. These bills are sold through a bi-weekly auction conducted by the Central Bank of Nigeria (CBN). You can visit your bank today to get started.

Euro Bonds

The procedure for investing in domestic bonds is the same as investing in Eurobonds. All you need do is fill out the form for a tender for the Federal Government of Nigeria or corporate bonds, and submit it through one of the approved dealers. If it is approved, you can proceed to pay the required amount.

Also to purchase the standard Nigerian Eurobond issued in dollars, you must first load your account with dollars. So, get started by opening a domiciliary account, if you do not have one. You can invest your July salary in the Eurobonds offered on Pillow Fund with as little as $10.

Mutual Funds

Mutual funds allow you to invest in different kinds of stock or bonds, thereby diversifying your portfolio. It is also a great place to put your July salary because your funds are managed by professional personnel.

Importantly, mutual funds are relatively affordable and convenient for retail investors. Platforms like Cordros and Cowrywise will provide you with the help needed to get started.

Peer to Peer Lending

You can invest your salary in peer-to-peer lending by partnering with platforms like FINT, Farmcrowdy, and Kia Kia, amongst others. These organisations establish certain criteria that will protect your funds as an investor.

Before lending money on any of these platforms, conduct thorough diligence on both platform and the borrowers. P2P lending requires careful evaluation and active management.