I lost $300 trying to make money off the U.S. stock market with zero market knowledge.
It was during the 2020 lockdown. I invested in a stock that gained significantly overnight. That was the first red flag, and I ignored it. You could say I was being driven by greed.
The stock dipped, then recovered, but I didn’t sell. I held on too long, and when it dipped again, it went beyond the point of recovery. That’s when I lost money I could have gained.
I wish I had understood the risks of the stock market, how to avoid buying the wrong stocks, and even why I behave the way I do with money.
The stock market isn’t for everyone, and it definitely wasn’t for me then.
That experience taught me one thing: what you know about money can either make you money or cost you money. And that’s why I started The Finance Sphere.
The Finance Sphere is for people who want to understand money and how to use it, without getting lost in technical jargon or feeling like finance is only for experts.
Here, questions are welcome. There is no such thing as a silly question.
We’ll discuss everything: savings, budgeting, investing, the stock market, and even the “why” behind our interaction with money. I’ll share my stories, research, and sometimes other people’s stories too.
In the coming month, I’ll show you how Nigerian companies like MTN and GTB actually raise money through the Nigerian Exchange. And how you can own a part of these companies.
So, welcome.
I’m Jx8, and this is The Finance Sphere.
Tell me, what’s one part of money you’ve always found confusing?
Is it budgeting, investing, or the stock market?