What is BIU money?

Many people have been asking about BIU money. In response, I wrote this article to address the issue. Biu is money that the government is giving to its citizens as soft loans. 

How can you make money in Zambia?

There are several ways to make money in Zambia. However, success depends on one’s skill in the field. Here are some ways to make money in Zambia.

1. Selling digital products? If so, create accounts on Facebook, Pinterest, Quora, and LinkedIn to sell them. Then, promote your products on a social media platform. First, ensure there is a huge following on your chosen platform.

2. Amazon handles print on demand: If you want to make money online, it’s all you can invest in. It’s free to create an account, and you don’t need to buy anything. All you need to do is set up an account and then start making money.

3. Affiliate marketing is selling other people’s products. They can be digital or physical. This process requires no investment to start. All you need to do is create an account and then promote the products.

Each time you sell a product, you will earn a commission. The amount depends on a presale agreement. You can sell on platforms like ShareASale, Digital24, and JVZoo. Just sign up and start promoting the products.

4. Freelancing: it’s great because you don’t have to sell anything. You just sell your talents or skills. People hire you based on their preferences. You do something you already know how to do and have the skills for.

How to access BIU money: To access BIU money, one must be a Zambian citizen and have the following documents.

1. A green national registration card
2. must be a Zambian citizen
3. Must be an employee of the Zambian government.
4. Must have a payslip
5. Must have a referee

What is online money? 

You may have heard about online money. In countries like Zambia, it is not common. The best-known form is Biu money. Online money is made using methods like playing games for cash.

Biu money vs. savings

To make money in Zambia, avoid borrowing from Biu. It’s hard to succeed in a tier-three country like Zambia otherwise. I once borrowed from Biu. The process was easy. But, to repay the loan, I had to borrow from other lenders to refinance it.

It took me over six months to escape that situation. I really don’t want to go back. You may ask how I can manage without money from BIU or any loan. Here is how.

Make money without buying money

If you want to be a businessperson and borrow money from Biu to invest in your business, think twice. There is a better way to overcome debt.

1. Don’t borrow to start a business.
2. Don’t get money from BIU to service another loan
3. Don’t borrow to invest in bonds or any other loan.
4. Don’t borrow to buy food
5. Don’t take out a loan to buy a car.
6. Don’t borrow to buy attire

Merits and Demerits of Biu

Merits 

I remember an argument with a friend about borrowing money. He said it was ok to borrow for a good purpose. By “good purpose,” he meant to invest in a business.

He wanted to start a cake business with borrowed money. I tried to discourage him. There is no right way to borrow. I failed with my first business after I borrowed to start it.

 Borrowing is borrowing. It doesn’t matter if you pay in two, thirty-six, or sixty months. The interest you pay also belongs to you. So, I still believe there is no right way to borrow.

 That said, consider borrowing as a last resort to make money. Instead, use the earlier mentioned strategies. Follow any of them instead of borrowing, unless intervention is urgent.

Demerits

Biu money will make you poor. So, try to save up. Don’t fall into the trap of like any other lending institution that is there for interest.

 Don’t make a habit of lending money. Some will borrow for consumption. Others, for business. But starting a business on borrowed money is very risky. I will never encourage you to do it.

conclusion

To improve finances in Zambia, don’t focus on BIU money. Look at options like making money online. Online income has great potential for financial growth.

To avoid pressure, accept slow progress. Be patient and determined. Remember, where there is no vision, people perish.

What should drive you to the top borrowing is not how fast you run but how progressive you are. You can borrow millions and order some products. It may look like you’ve made it big. But, once you start paying back, then you will know that debts are bad.

If you want to make money online instead of borrowing to invest make money on apps like Jumaworkers, microworkers and honeygain and social media accounts like Pinterest, quora Facebook and YouTube or learn how to monetize a blog

Fot more information you can contact me on:

tomsonchilyobwe.com

tchilyobwe@gmail.com

chilyobwet@gmail.com