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MoneySpeak · Word of the Day · Free
Liquidity
lik · wid · i · tee
How quickly you can turn what you own into cash when you actually need it.
A woman has saved ₦800,000 — all in a plot of land. One Thursday night, her child gets sick. She needs ₦60,000 by 6am Friday. She cannot call Oloriebi at 3am to buy land. That ₦800,000 is hers, but right now when she needs it — it is completely useless to her.
"Always check the liquidity of an investment before you commit your money."