Whether you know it or not, you have most likely been involved in one form of mutual funding, and only after we bring this example to the forefront would you agree that mutual funds or funding isn’t as complex a topic as may be perceived.
Tunde, the average 300 level student trudges to his room, hungry, tired and broke...his assignments and tests are the last thing on his mind. The man wants to eat, “na person wey dey alive go fit read for test,” he tells himself. He finally gets to his room, checks his food stuff, nothing! Except his roll of sachet tomato paste and vegetable oil.
Daniel, Tunde’s roommate, lazy to cook, but would not mind to eat, walks in from class, “guys who cook oo, hunger dey wire me o!” Not like he was expecting a positive answer to his cry, everyone left for classes in the morning, everyone except Uche. “I get rice o”, Daniel says, “who go cook, make we chop?”
Tunde, almost in tears, due to hunger, barely manages to say he has his sachet tomato paste, but he makes it known somehow to the room. “Uche, you no go class now, abeg come help us cook now, abeg,” Daniel begs. Uche, being the nice guy, who was praying for manna that night, agrees to the appeal, excitedly. He adds his seasoning cube and salt to the “contribution” of rice, tomato paste and vegetable oil.
Just then, Hassan, the last member of the room walked in, with a wrap of suya. He had planned to take it with garri. “Hassan, shey garri no dey tire you? Na the second time today you dey drink am! Drop your suya make we add am to concoction rice wey we dey cook.” Seeing the truth in the statement, it was actually the 3rd time he was drinking garri that day, but...anyways, he agreed to dropping his suya
In few minutes of mixing the different “contributions” made, a nice, well prepared meal (student standard of course) was ready and they all ate well that night. Tunde remained “alive to fit read”. Lazy Daniel, ended up remaining comfortable, and not cook. Uche, who had time got an answer to his “manna” prayer. Hassan, had a meal, the first of its kind in days. Everyone was satisfied by dropping what they had to get something they needed. That is the principle of mutual funding.
Like in our story above, we all have needs but we may not be able to attain them alone. With mutual funds, you can bring your resources together to achieve a common goal, eating. In this case, it was a meal, for you it could be a share in a particular market. A market where limited resources or factors may limit your playing in the market. The principle of mutual funds allows you to put in what you have, with other people, also with your shared desire doing the same thing, and your “rice”, the other person’s “tomato paste”, his own “vegetable oil” and her own “suya”, would come together to form a meal all can enjoy.
Mutual funds is simply a communal effort to achieve a goal easier, and this financial platform by Cowrywise allows you achieve your desired financial status, with the “little” you have. To benefit fully, download the Cowrywise app and get ready to cook.
Let’s meet for coffee or go for a stroll.