Hello Laycon, 

How are you doing?  

I guess things are hectic. Phone calls. Messages. Press rounds.

One of the things that would be uppermost on your mind would be, how do I manage N30 million in a year?

I’ve never had to manage such a huge sum.

Luckily, you can split this into 12 portions to have less to worry about.

The first thing to do is let the money “breathe”. Don’t be in a rush to spend.

You can keep it in a money market account for a few months.

You don't have to spend right away, you will get a lot of gifts and endorsements.

The next thing to do is come up with a monthly budget.

This you can split into 3 halves for your monthly expenses, musical career, and investing. 

Monthly expenses comprise feeding, moving around, phone bills, etc. It also includes your immediate family.

The second portion can go towards your musical career. Music is expensive.

While you would get a lot of favors, you will need to make payments regardless.

The last portion is for investing.

You can again divide this into 3 portions towards low-risk, medium risk, and high-risk investments.

Examples of low-risk assets include treasury bills and government bonds.

Your medium risk assets choice could be blue chip shares and some agri tech schemes. 

In the high-risk bucket, you have assets like cryptocurrency.

At 26, you have decades of an active working life ahead of you.

As a musician, you can work well into your 70s if you so desire.

This is the time to take a calculated risk. Then dial back as you get older.

We know you are in safe hands.

Still, if you ever need help, feel free to reach out to us.

Money Africa is for everyone, not just the stars.

We are all navigating this journey, of balancing our daily needs while making provisions for the future. 

Why not join us?
Life’s more fun in a group. 

You can sign up to our community at http://www.themoneyafrica.com .