My plan in next 2 years is to own a particular construction equipment which presently cost 6millon.

My plan is to be saving 250k every month.

My challenge is how and where can i be saving this money so that i will not be tempted to touch it or even use it for another project.

MY OPTIONS
OPTION A:
Go to the company that sales the equipment, negotiate with them to be paying 250k every month till when i complete the money i will then carry my equipment.

MY FEAR
(1)What if the company close over night.

(2)What if something happened to my present sources of finance that i am unable to complete the payment

OPTION B: Look for a land to buy which allows installment payment methods, sell the land at the end of the two years to by the equipment.
MY FEAR
(1)where can i get a genuine land in the eastern part of nigeria that the will allow me to pay small small?
(2) what if my source of fund stop that i am unable to complete the land payment

OPTION C: Open a special account with bank and make the contributions every month.
MY FEAR:
This is my best option but my fear is that i may be tempted to use the money for a different purpose. I would have gone for fixed deposit but i don't have the money in cash.

Another option which i dont know if it is possible is if i can reach agreement with bank not to allow me withdraw the money till the end of 2years.

Pls what do you advice me

nabiz:
My plan in next 2 years is to own a particular construction equipment which presently cost 6millon.

My plan is to be saving 250k every month.

My challenge is how and where can i be saving this money so that i will not be tempted to touch it or even use it for another project.

MY OPTIONS
OPTION A:
Go to the company that sales the equipment, negotiate with them to be paying 250k every month till when i complete the money i will then carry my equipment.

MY FEAR
(1)What if the company close over night.

(2)What if something happened to my present sources of finance that i am unable to complete the payment

OPTION B: Look for a land to buy which allows installment payment methods, sell the land at the end of the two years to by the equipment.
MY FEAR
(1)where can i get a genuine land in the eastern part of nigeria that the will allow me to pay small small?
(2) what if my source of fund stop that i am unable to complete the land payment

OPTION C: Open a special account with bank and make the contributions every month.
MY FEAR:
This is my best option but my fear is that i may be tempted to use the money for a different purpose. I would have gone for fixed deposit but i don't have the money in cash.

Another option which i dont know if it is possible is if i can reach agreement with bank not to allow me withdraw the money till the end of 2years.

Pls what do you advice me

Let me send my account number to you and you can sleep peacefully at night.... on a serious note open an account with a bank be depositing and ask them to book a fixed deposit for you, you can keep topping the amount monthly and earn some interest on it.

tofolo:
Let me send my account number to you and you can sleep peacefully at night.... on a serious note open an account with a bank be depositing and ask them to book a fixed deposit for you, you can keep topping the amount monthly and earn some interest on it.

good this is what i have been contemplating, THE POSSIBILITY OF TOPPING MONEY ON ALREADY DEPOSITED FIXED DEPOSIT

nabiz:
good this is what i have been contemplating, THE POSSIBILITY OF TOPPING MONEY ON ALREADY DEPOSITED FIXED DEPOSIT

the bank cannot stop you from withdrawing your funds, all you need do is discipline yourself not to touch it no matter what since you have a plan in the future for it, just do the fixed deposit thing its way easier and safer for you.

you can contact I have a good business plan in which you invest the one you have now thereby making your percentage

ricardoonye:
you can contact I have a good business plan in which you invest the one you have now thereby making your percentage

lol. I also have already existing business. I just need a liquid assets

Come and invest with DHP

You can open a blockchain account and be buying bitcoin with that money monthly.
You will be surprise to know that in the next two years, the price of bitcoin must have double by over 200%.
You sale it back and make excess money.
Just make your research and see the potentials of bitcoin.

If you have upto #500000 to invest,i have a very reliable and trusted organisation in nigeria registered with efcc that audit their account periodically to ascertain they are fraud free.you get 20 percent of your invested money every six month.if you invest 500000,you get 600000 at the end 6 months.

nabiz:
My plan in next 2 years is to own a particular construction equipment which presently cost 6millon.

My plan is to be saving 250k every month.

My challenge is how and where can i be saving this money so that i will not be tempted to touch it or even use it for another project.

MY OPTIONS
OPTION A:
Go to the company that sales the equipment, negotiate with them to be paying 250k every month till when i complete the money i will then carry my equipment.

MY FEAR
(1)What if the company close over night.

(2)What if something happened to my present sources of finance that i am unable to complete the payment

OPTION B: Look for a land to buy which allows installment payment methods, sell the land at the end of the two years to by the equipment.
MY FEAR
(1)where can i get a genuine land in the eastern part of nigeria that the will allow me to pay small small?
(2) what if my source of fund stop that i am unable to complete the land payment

OPTION C: Open a special account with bank and make the contributions every month.
MY FEAR:
This is my best option but my fear is that i may be tempted to use the money for a different purpose. I would have gone for fixed deposit but i don't have the money in cash.

Another option which i dont know if it is possible is if i can reach agreement with bank not to allow me withdraw the money till the end of 2years.

Pls what do you advice me

i dont know about other banks but i guess they have something similar in other banks. In first bank they have options of saving money and depositing for specific projects for a period specified by you though you wont be able to withdraw until the end of the period specified. On the other hand instead of the funds lying idle in an account you can invest it and generate some more money but its totally up to you.

But the banks can serve your request. Just visit any and have a talk with their customer care

nopoverty:
If you have upto #500000 to invest,i have a very reliable and trusted organisation in nigeria registered with efcc that audit their account periodically to ascertain they are fraud free.you get 20 percent of your invested money every six month.if you invest 500000,you get 600000 at the end 6 months.

wao! This option sounds too good to be truth. Pls tell me more about it

I think the last option is your best bet.

There should be a plan that allows you make deposits but not withdrawals, the main tool you need here is discipline not to divert the money to another use, well, that will be dependent on what you want or if your goal still remains the same as at when the money needed is completed.

Better still, you can always keep them with me monthly, trust me I’m a good manager
Cheers

Ayoolajumoke:
I think the last option is your best bet.

There should be a plan that allows you make deposits but not withdrawals, the main tool you need here is discipline not to divert the money to another use, well, that will be dependent on what you want or if your goal still remains the same as at when the money needed is completed.

Better still, you can always keep them with me monthly, trust me I’m a good manager
Cheers

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