Why Buy A Plate of Rice When You Can Have a Jollof Party

1. I want a Girls’ Night Out

And no girl’s night out is complete without party Jollof. I had exactly #5000 naira, and that was nothing near the required #13,000 I needed for 10 plates of rice

Was this even worth it, I bring out my phone to pay up just then, my Cowrywise notification pops up

“why buy a meal, when you can throw a party?’ That is when it hits me!z

2. Why buy a meal when you can have a Jollof party

It struck me like lightning, I wondered why I never thought about it before, the other option. I hit my girls on the WhatsApp group “hey girls, plans have changed. I have a better idea, if we all agree to contribute #200 each, we could have a full-blown Jollof party” and yes, your girls agree!

The party was scheduled for 7 o’clock, and everything was set in place.

“Woah, how did you do this?“ Jumoke said. She was definitely surprised by what you did with the small contributions you collected. Soon the girls were streaming in one after the other. Nancy, Nina, Ada and they all settled in, eating delicious spoons of jollof rice while asking the question.

1. How Did You Pull This Off?

The girls asked. “My Cowrywise Mutual savings Funds” I replied

“What has mutual funds got to do with jollof?”

“Ladies! here’s what happened, I said as I finally got all their attention “I was just about to pay for meals at a restaurant when I spotted this notification from my Cowrywise app, “why buy a meal, when you can throw a party with our mutual saving plans funds” and then it struck me! I could crowdfund for a Jollof party

2. Mutual Funds are like Crowdfunding for a Jollof Party

“Mutual funds are like the contributions we made to get these pizzas. Mutual funds allow you to get a slice of a large investment by making small contributions called shares”

“Woaah” Nina replied

“With Mutual funds we could get a better deal if we come together because in these terms more cost less”

3. The Concept of Mutual Funds — How Does That Even Work?

“Okay Nina, let me explain If you have more people contributing to an investment, it cost less for each person less to contribute.”

“Say we want to get #10,000, we would need 5 people contributing #2000 each. But if we are 10 in number, we would only need to contribute #1000 each. And most times, we get even a larger pie, with more people, we can get more and contribute less. “Just like a bigger bottom pot” Ada teased. The girls laughed

4. Mutual Funds are like Crowdfunding for a Jollof Party

“Mutual funds are like the contributions we made to get these pizzas. Mutual funds allow you to get a slice of a large investment by making small contributions called shares”

“Woaah” Nina replied

“With Mutual funds, we could get a better deal if we come together because in these terms more cost less”

5. The Concept of Mutual Funds — How Does That Even Work?

“Okay Nina, let me explain If you have more people contributing to an investment, it cost less for each person less to contribute.”

“Say we want to get #10,000, we would need 5 people contributing #2000 each. But if we are 10 in number, we would only need to contribute #1000 each. And most times, we get even a larger pie, with more people, we can get more and contribute less. “Just like a bigger bottom pot” Ada teased. The girls laughed

6. Tell Me About Mutual Funds

Nina wanted to know more. “With Mutual funds, contributors are called investors, contributions are either stocks or bonds, so you are able to invest in portfolios (such as a jollof party) which you wouldn’t have been able to afford on your own.

7. And Funds Manager, can be just me

I continued “Who is able to find the right investments that fit your taste, (more like knowing the right kind of jollof rice that you like)? In the real world, Cowry wise is my funds management platform, they have lots of experience and through their risk assessment they can tell which investment fits my taste.”

8. How Do I start?

Jumoke didn’t even wait for me to finish

“It is simple, all you need to do is download the app, and sign up with your mail. Unlike the formal way of doing things, going to the bank, signing up papers, and getting stiff neck replies with bankers talking in financial jargons, with Cowrywise you get to have a chat with a young person like you who would answer all your questions in easy terms, we call him Ope, our favorite financial advisor”

The girls all hoovered around you, sign me up, sign me up they scream, “Girls, Google it!” I said and they were all back to their phones quickly typing away.

Girls please click here to get free #250 Naira when you sign up. whose’s interested?

“Me”

Finally, we not only had a Jollof party, but I successfully brought in 10 of my friends to the platform, making them smart money women

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Onukogu Favour

Hello I’m Favour. A Writer & Product Manager. I rest at the confluence where science & art meets. find me herownhero.com.ng