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How to improve your finances with the 50:30:20 budgeting rule

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Today, I want to talk about one of the crucial habits that have helped me on my journey, BUDGETING!. I cannot begin to tell you how important this is if you want to attain financial freedom.

There are quite a number of budgeting methods out there, but I want to re-introduce you to a simple and powerful budgeting plan. The 50:30:20 Budgeting Rule!

If like me, you don’t have the patience for tracking your spending in minute detail, this budgeting plan is for you. The 50:30:20 Budgeting Rule is simply dividing your income into three main categories of expenses: 50% for your needs, 30% for your wants, and 20% for your investments.

Let’s assume you earn $2,000 per month. $1,000 goes to your needs, $600 goes to your wants, and $400 goes to investments.
Sounds easy right! Yes, I agree!.

The next little challenge is determining what fits into each category. Here are some general guidelines to follow in determining what fits into what category:

The first step is to “pay yourself first” The savings/investment category is money you set aside for your future. Start by building an emergency fund, then saving for a down payment on a home, school fees etc and then investing for retirement. One of the things that helped me tremendously when hard times came was my frugal lifestyle. I always saved/investment more than 20% of my income. I would increase my savings/investment percentage as my income increased. Sometimes, I go as high as 50% depending on my need for the month.

Next, your Needs. The basics for survival. They include things like housing, utilities, transportation, health care etc.

Finally, your wants. Those non-essential nice to haves. Those things we just love to splurge on like dining out (I swear, it feels like a NEED), cable TV/internet subscription, vacations, gifts and other luxuries. Discipline yourself to reduce the percentage you spend on these and increase your savings/investment percentage.
It is very important that you don’t confuse your wants with needs. What I ask myself is… can I live without this thing? If the answer is YES, it’s a want! So I put away my wallet jejely and head for the kitchen to replace that take-out order with healthy wholesome stir-fry.

Unfortunately, the 50/30/20 rule won’t work for everyone because of individual circumstances, such as residing in an area where the cost of living is high. Keep in mind, though, that you can adjust the rule for your particular needs by changing the percentages to match your personal situation and financial goals.

JAMB Accuses University of Abuja, Others Of Granting Illegal Admissions

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The Joint Admissions and Matriculation Board, JAMB, has accused some universities of giving illegal admission to candidates.

JAMB specifically mentioned the University of Abuja, which it said, had been reported to be issuing admission letters to candidates without recourse to JAMB.

The organisation advised all candidates not to accept any admissions that were not provisioned on its Central Admissions Processing System (CAPS).

A message sent to the Vice Chancellor of the University of Abuja, Prof. Abdul-rasheed Na’allah; and the spokesperson of the institution for responses were not replied as at the time of this report.

However, a  statement on Tuesday by the Head, Public Affairs and Protocols, JAMB, Dr Fabian Benjamin, said , “Admission done outside CAPS is an illegitimate admission that will not be sanctioned by JAMB.”

The statement was titled: “Caveat Emptor: Illegal admissions by some institutions.”

Oscars Set To Flop In China As Hollywood, Politics Collide

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The Oscars are the glitziest night of the year in Hollywood and millions across the globe tune in, but they threaten to be a dud in China after the nomination of a Hong Kong protest documentary.

Beijing-born filmmaker Chloe Zhao, who is touted to win big for her acclaimed American road movie “Nomadland”, has also faced criticism back home after some questioned her loyalty to China.

The country has spent years “pining for Hollywood accolades”, according to entertainment magazine Variety, and state broadcaster China Central Television (CCTV) has shown the awards live or on a delay since 2003.

Online platforms in China, the world’s fastest-growing movie market, have also streamed the Oscars in the past.

It was reported last month that the ruling Communist Party’s propaganda department has ordered state-controlled media to play down the 93rd Academy Awards and also not show them live on April 25.

In Hong Kong, where Beijing is greatly tightening its grasp, the Oscars will not be televised for the first time in more than half a century, with broadcaster TVB saying it was “purely a commercial decision”.

Chinese state media has taken aim at the Oscars in recent weeks and in particular “Do Not Split”, about Hong Kong’s pro-democracy protests.

Just days after its nomination in the short documentary category, the state-run media made clear China’s disdain, saying the film “lacks artistry and is full of biased political stances”.

Anders Hammer, who made “Do Not Split”, said that he was delighted by the reaction.

“Beijing has helped us a lot,” said the Norwegian.

“The main aim of making a documentary is not to win the Oscar but to bring attention to the critical situation in Hong Kong.

“We have received so much more attention.”

JAMB Scraps Use Of Email For UTME, Direct Entry Registration

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The Joint Admissions and Matriculation Board (JAMB), has announced that the use of email would no longer be required for the processing of registration for the Unified Tertiary Matriculation Examination and Direct Entry.

The Registrar and Chief Executive of JAMB, Prof Is-haq Oloyede, said this while speaking with journalists on Tuesday evening.

According to him, email would only be requested at the successful completion of the registration exercise by candidates to access information on the examination.

He said as from Thursday, April 15, 2021, candidates will no longer be required to provide any email address during registration.

Osun State University Withdraws U-16 Students Admission, Offers Refund Of Fees

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Over 100 students that had initially been offered admission by Osun State University, Osogbo for 2020/2021 academic session have been told to defer the offer or take back already paid school fees because they were below 16 years.

The Management of the school directed all newly admitted students yet to attain age 16 as of the time the admission was given to them to either defer the offer, or demand refund of school fees.

A statement by the Public Relations Officer of the university, Ademola Adesoji, said the Vice Chancellor, Prof. Labode Popoola, said the institution would not compromise its non-admission policy for underage students.

Adesoji said The 2020 Brochure for UTME states that the candidate must have attained the age of 16 years or would have done so on the first day of October in the year of his/her candidature.

The Vice Chancellor of the institution, Prof. Labode Popoola, had explained that even though some candidates that were underage as at the period stated in the 2020 brochure of the UTME erroneously found their way into the system, UNIOSUN, in its mercy, had concluded to defer the admissions of such candidates till they attain the required age, or they seek refund, which would not allow them automatic admission to the institution.

The institution also dismissed claims of increase in school fees, saying the university had not increased its school fees since 2017.

Nollywood Actress Turned Firefighter Says Dream Fulfilled

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Nollywood actress, Grace Agbo, who took up a fire fighting job has said that her dream of helping people has been fulfilled in both careers.

Agbo turned 30 recently and she said God has changed her life positively.

Speaking in a chat, Agbo said the job of a firefighter has taught her to be disciplined, patient, courageous and observant.

Agbo noted that as an actress, she helped to make people laugh while as a firefighter, she is involved in helping people.

According to her, “I feel great. God has really done me well. My whole life has changed positively. I may not have it all but am grateful to God for everything I’ve achieved, my life is a great testimony. Both jobs have both been fulfilling in different ways. Growing up I always have the feeling of helping people and also making people happy. I have been able to do this through acting and firefighting.

As a firefighter, our mandate is to save and protect lives and properties, rescue victims during an emergency, extinguish, control, and prevent fire, as well as carry out other humanitarian works. Nothing else could be more fulfilling.”

Continuing, she said: “Acting on the other hand has helped me put smiles on people’s faces. Most times I get calls from people telling me about movies I acted in, the role I played, and how it made them feel. Then I realised most people are happy whenever they watch my movie. Am a fulfilled woman.”

Agbo has featured in several Nollywood movies such as Black Out, Mr. Potosky, Lost Pride, Deadly Desire, Palace of Sorrow, Ada-Ide-Ichaka, Haunted Palace, Village Don, The Calabash among others.

Eko Star Film & TV Awards: Ruth Kadiri Accuses Organizers Of Overlooking Filmmaking Achievements

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Nollywood actress and producer, Ruth Kadiri has called out the organizers of Eko Star Film & TV awards for not recognising her at the just concluded award ceremony honouring women in Nollywood.

Kadiri took to Instagram to accuse the organizers including Mo Abudu, Ijeoma Obioha-Onah and the Lagos State Ministry of Tourism of overlooking her years of work in the industry.

She also alleged that her name came up during the jury’s decision making process but was overlooked because she did not belong to a clique.

“I will not be pressured. I will keep working hard @lagosstategovt @moabudu @ijayonah @nifsummit thanks for overlooking me and congrats to everyone who got recognized. The film industry is controlled by women, so if you’re going to do it, do it right or don’t do it at all”, Kadiri wrote.

The award ceremony held on Monday, April 12 and honoured female film influencers involved in different areas of filmmaking. Some of the awardees include Omotola Jalade-Ekeinde, Funke Akindele, Emem Isong Emodi, Omoni Oboli, Toyin Abraham, Sola Sobowale, Mimi Bartels, Zulumoke Oyibo, Joy Odiete, Collette Otusheso, Tosin Dokpesi.

The awards also interestingly snubbed major names like Genevieve Nnaji, Rita Dominic, Mildred Okwo.

US colleges divided over requiring student vaccinations

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U.S. colleges hoping for a return to normalcy next fall are deciding how far they should go in urging students to get the COVID-19 vaccine, including whether they should — or legally can — require it.

Universities including Rutgers, Brown, Cornell and Northeastern recently told students they must get vaccinated before returning to campus next fall. They hope to achieve herd immunity on campus, which they say would allow them to loosen spacing restrictions in classrooms and dorms.

But some colleges are leaving the decision to students, and others believe they can’t legally require vaccinations. At Virginia Tech, officials determined that they can’t because the U.S. Food and Drug Administration has only allowed the emergency use of the vaccines and hasn’t given them its full approval.

The question looms large as more colleges plan to shift back from remote to in-person instruction. Many schools have launched vaccination blitzes to get students immunized before they leave for the summer. At some schools, the added requirement is meant to encourage holdouts and to build confidence that students and faculty will be safe on campus.

“It takes away any ambiguity about whether individuals should be vaccinated,” said Kenneth Henderson, the chancellor of Northeastern University in Boston. “It also provides a level of confidence for the entire community that we are taking all appropriate measures.”

Northeastern and other colleges requiring shots believe they’re on solid legal ground. It’s not unusual for colleges to require students to be vaccinated for other types of diseases, and a California court last year upheld a flu shot requirement at the University of California system.

But legal scholars say the COVID-19 vaccines’ emergency use status moves the issue to a legal gray area that’s likely to be challenged in court, and some colleges may take a more cautious approach to avoid litigation.

Harvard Law professor Glenn Cohen, who teaches health law and bioethics, said there’s no legal reason colleges wouldn’t be allowed to require COVID-19 vaccinations.

Read Also: California lifts COVID-19 limits on indoor worship services

It makes no difference that the shots haven’t been given full approval, he said, noting that many colleges already require students to take coronavirus tests that are approved under the same FDA emergency authorization. But there’s also no federal guidance explicitly permitting vaccination mandates.

The biggest clashes could come in states taking a stance against vaccination requirements, he said.

In Florida, Gov. Ron DeSantis this month banned all businesses from requiring customers to show proof of vaccination.

The order raises questions about Nova Southeastern University’s plan to require students and staff to get vaccinated. The college’s president said he’s still confident in the plan, but he also promised to “respect the laws of our state and all federal directives.”

The governor of Texas, the country’s second-largest state, issued a similar order.

There’s a parallel debate about whether to require vaccination for faculty and staff, an issue that employers across the nation are grappling with. At the University of Notre Dame, one of the latest schools to require student vaccinations, shots are still optional for workers. Northeastern is considering whether to extend its mandate to employees.

Even at schools making shots mandatory, there are exemptions. Federal law requires colleges to provide accommodations to students who refuse a vaccine for medical reasons, and most schools are also offering exemptions for religious reasons.

At Brown, students who forgo shots and have no valid exemption must file a petition to study remotely or take a leave of absence next fall, the school’s president, Christina Paxson, told students in a letter last week.

But enforcing vaccine mandates will bring its own challenges. Cornell and Northeastern say students will be asked to show proof of vaccination, but there is no widely accepted vaccine credential. Cornell told students they can provide the card given out at their vaccination site, but card formats vary and generally seem like they would be easy to forge.

Schools expect some pushback, and Republican student groups on some campuses have opposed mandates, saying it should be a choice.

Colleges are also grappling with what to expect of international students, who may not have access to vaccines in their home countries or who may get shots that are not used in the United States. Some colleges say they’re planning to develop arrangements to make shots available for international students when they arrive.

Some, including Dartmouth College, are waiting for shots to become more widely available before making a decision. Diana Lawrence, a spokesperson for Dartmouth, said officials “cannot make a determination regarding required vaccination until vaccines are accessible for all students.”

Zuma Told To Suggest Penalty Over Contempt Case

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Former South African President and former president of the ruling party African National Congress (ANC) Jacob Zuma has been facing corruption allegations.

He has been given up to Wednesday to suggest the penalty the country’s highest court should impose if he were to be found guilty of contempt.

The penalty relates to his allegedly ignoring of summons to appear before the commission of inquiry chaired by Justice Ray Zondo to answer corruption allegations – which he denies.

In January, the country’s constitutional court ordered him to appear before the commission, but he was absent, later explaining that he had not appeared before the commission because he had lost trust in the justice system.

In last month’s hearing, the commission asked the court to sentence the former president for two years, to stamp the authority of the court and show the seriousness of Zuma’s actions.

The court however withheld judgement in the case.

Meanwhile an appeals court on Tuesday upheld an earlier judgement for the state to recover money that it had spent on the former president’s legal fees.

It said the state funding in the corruption case was “unlawful, unconstitutional and invalid. The state paid an estimate of $1-million and $2.2-million in legal costs for him.

Biden To Withdraw All US Troops From Afghanistan By Sept. 11

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U.S President Joe Biden is withdrawing all US troops from Afghanistan before this year’s 20th anniversary of the September 11 attacks, signaling an end to America’s longest war.

The Biden official said the withdrawal would begin in May and that the delay was largely logistical, with troops possibly out of Afghanistan well before September 11.

The decision came as Turkey announced an international peace conference on Afghanistan to try and brings stability to a nation battered by nearly 40 years of war.

Turkish foreign ministry said in a statement the conference, scheduled to hold from April 24-May 4 hopes to establish a roadmap to a future political settlement and an end to the conflict.

But Mohammad Naeem, spokesman for the Taliban office in Qatar, said the insurgents will not participate in any conference on Afghanistan’s future until all foreign forces completely withdraw from our homeland.

Analyst proect that the Taliban think they have already effectively won and can wait out the US withdrawal, as little progress has come out of on-off talks in Qatar.

The move will cause a 5-month delay to a previous agreement with the Taliban and former president Donald Trump to pull troops, amid a growing consensus in Washington that little more can be achieved.

Under the Trump administration’s February 2020 deal with the Taliban, all US troops would leave by May 2021 in return for the insurgents’ promise not to back Al-Qaeda and other foreign extremists.