In the article Saving Lives, Saving Money , Jon Meliones detailed the strategy used to turn Duke Children's Hospital (DCH) from financial crisis to financial success within 4 years. By 1996, Duke Children's Hospital (DCH) had an $11 million annual loss, which led to a serious cutback on resources and declining care quality. 4 years later, the hospital went from an $11 million loss in 1996 to a $4 million profit by 2000.   Although, this article primarily focuses on hospital management, but it contains several sublime messages that can be applied to personal finance and money management in our quest to turn personal financial crisis today to tomorrow’s financial success. Here are some 10 key takeaways: Calculate your personal income tax at: https://www.insightxtra.com/p/personal-income-tax-calculator-body.html 1. "No Margin, No Mission" – Profitability Enables Purpose Always prioritize financial security before engaging in philanthropy or personal enjoyment...

  Year 2025 is here on us. It’s young and fresh, and we must do great things this year. One of such great things is to improve our personal finances and boost up our incomes. As Jaywon sang in his evergreen song This Year (Odun Yi), “We’re making money this year”. You want to make money this year and I want to make money too.   Of the many sources of extra income available in Nigeria, one is investment. The year is still fresh and investing your money in Nigeria in 2025 doesn’t have to be a daunting task. With little change, a variety of investment options, coupled with knowledge, you can empower yourself to make informed decisions that align with your financial goals. Therefore, let me give you a quick rundown of 7 profitable investment opportunities you can put your money on in 2025. 1.         Federal Government Sovereignty Bond Imagine lending money to the Nigerian government and earning interest in return. That’s essentially what a...

  The intricate and dramatic tale involving General Hydrocarbons Limited (GHL) and First Bank of Nigeria Limited (FBN) over an alleged $225.8 million debt has not only made headlines but has also ignited discussions about financial accountability, corporate governance, and stakeholder trust in Nigeria’s banking and oil sectors. For investors, shareholders, regulatory bodies like the Central Bank of Nigeria (CBN), and the general public, this ongoing saga underscores the critical need to dissect and understand the financial and reporting issues at play. Here, we explore ten key aspects that stakeholders must consider to unravel the complexities of this case. A Historical Backdrop Before considering the financial and reporting intricacies, it is essential to understand the context. General Hydrocarbons Limited is a relatively new player in Nigeria’s oil and gas industry, holding rights to Oil Mining Lease (OML) 120. This block is a resource-intensive asset requiring significant ...

  The time value of money (TVM) and inflation are two distinct concepts often discussed in finance and economics. While they may seem similar at first glance, they address fundamentally different aspects of how the value of money changes over time. Let’s explore these concepts in detail and clarify their differences using relatable illustrations. The Concept of Time Value of Money The time value of money simply states: “A naira (or dollar) today is worth more than a naira (or dollar) tomorrow.” This concept operates independently of inflation. Even if inflation rates remain constant or prices don’t change, a unit of money today is still more valuable because of the opportunity it provides to earn returns. At its core, TVM is underpinned by the assumption of investment and return . If you receive a sum of money today, you can invest it and earn a return, increasing its value. If you receive the same sum tomorrow, you miss out on a day’s worth of potential returns. Thi...