This week was eventful. Wait, why do I regard Sunday as the last day of the week instead of the first day?š¤ Which is the first day of the week for you? Is it Sunday or Monday? Do let me know.
Monday started with a mix-up in our delivery. Our order was delivered to the wrong address, and after several calls, emails and tweets, we finally got a hold of the driver. The driver attempted severally to retrieve the item from the wrong address, but each time he went, the person wasnāt home. Lol, itās not a parcel that I spent hard-earned money on that someone else would corner o. The driver eventually gave us the address. I went there on Tuesday, but the person still wasnāt home. My husband went a few hours later with a note this time, and the person still wasnāt home. So my husband slid the note into the mailbox. Long story short, apparently, this person had taken the parcel with him to work so he could drop it off at the nearest post office. He saw our note and drove down to ours that night to drop off the parcel. Good people do exist, and I need to do a better job of believing the best of others š. You can see the parcel we went through all this stress for.
š©š½āš» What I worked on this week
At this point, Iām sure youāre tired of hearing me talk about this upcoming event Iām planning for the company I work for. Iām tired too!š I made some more vendor bookings this week, ordered some items needed and recalculated the budget to ensure I wasnāt going over it. The event is only a few days away, and my anxiety increases as it draws closer. Pray for me. Pray that this event goes well and that I experience minimal stress on Friday.
š”What Iām learning
Oh! Iām so excited to share what Iām learning with you. As mentioned in my previous dispatch, Iām currently reading Get good with money by Tiffany Aliche. Even though some of the concepts only apply to U.S. residents, Iām still finding them insightful. Also, the book is very beginner friendly if youāre trying to get a grasp of your finances. Enough preambles. Hereās what I learnt this week:
Iāve always heard of recession, GDP and economic depression, but I never actually understood what these meant. Donāt judge me; I could have probably googled these, but I never didš. I just know recession means the economy is tight, but I didnāt get it in financial terms. Please allow me to explain the jargon to you.
So, a recession occurs when a countryās economy has declined for more than two consecutive quarters, i.e. 6 months. This is generally measured using GDP. GDP - Gross Domestic Product is the worth of all finished goods produced in the country, from electronics to farm produce, clothes, toys etc.
What happens during a recession is that a countryās GDP has declined. When a countryās GDP declines, it means manufacturers/producers arenāt producing as many goods because people arenāt purchasing these goods as they would. Basically, purchasing power is low, demand reduces, and so does supply. When this happens, the country is said to be in a recession.
Typically recessions are part of the economic cycle and occur every 10-15 years in developed countries. However, the pandemic has proven that this isnāt always the case. Then a depression on the other hand occurs when a country has been in recession for prolonged periods of time, e.g. two years or more.
Iām feeling like a financial analyst!š I hope my explanation makes sense. Lol, youāre welcome.
š¤ Whatās on my mind
I finally made my first investment in the UK *cue dramatic music*. I have been brooding over this for months and finally decided to just take the leap. I use an app called Plum, you can check it out if you like, but this ISNāT an app recommendation. I did my own research and fully acknowledged the risks before deciding to go ahead. Iām so proud of myself; baby steps, aye?
Speaking of money, one platform that has proven vital to my financial journey in the UK is Female Invest. From learning about ISAs to SIPPs to taxes, bonds, funds and salary negotiation etc. The platform has been super helpful! They have tons of live webinars and replays, + community events. If youāre an immigrant in the UK (like me), you should sign up to Female Invest, and to get you started, hereās 50% off their yearly membership. So you only pay Ā£49 for one full year, youāre welcome! P.S. This isnāt a sponsored recommendation
š¹ New Youtube Video
My husband and I finally got around to setting up and decorating our Christmas tree. I know weāre late to the party, but we were not sure if we should decorate for Christmas or not, seeing as we wouldn't be spending Christmas in our house. Anyway, you can decorate with us and check out our matching pyjamas by tapping the image below.
That would be all for today. Thanks again for the reply emails and the thoughtful comments. I read them all! Till next week, drink water and stay hydrated.
XOXO
- Chidera
P.P.S I finally dropped the review of the 2/3 books I read in November. You can check it out.
I loveā¤š