Hello Nairalanders,

I earn 50k per month.
How much should I save monthly as a bachelor?

I need advice from Financial Advisors in the house





lalasticlala, ishilove and dominique please EPP me

how are we supposed to advice yah when u didnt state ur expenditure Oga...sum it up and drop it so advice can roll in.

Snc u really don't av any responsibility, cus it wasn't stated here. You can save all.

tee59:
Snc u really don't av any responsibility, cus it wasn't stated here. You can save all.

If I were a Man, I would have proposed now..

Your sense material can sow buba for 3 fat Yoruba women...

lol.

So u want us that don't know ur expenses and needs to advice you?

How much is 50k wey person go keep........ok bro just dey save 30k evry month nd deal wit d rest of 20k.............#military

50k by 12months is 600k.

No 1:- Subtract ur house rent from 600k

No 2:- Sum up ur feeding allowances (u should be cooking, and u must be buying foods stuff in bulk) subtract it from the balance u have in NO1.

No 3:- ur electricity bills and water rate must be subtracted too.

No 4:- ur clothing allowances too, shop like 4times in a year, and if u do office work, invest more on shirts and footwear, maybe one or two polo, jeans nd shorts.

No 5:- also calculate ur transport allowances,


@ the end of the day and if all other things are equal, u can save around 150-200k per annum and when u divide it into months, u will have to be saving 12.5k - 16.5k per month.


But if after u subtracted all those things I mentioned and u are spending above 400k/annum, den u have to really cut down on some things.


NB:-, 4rom NO1-NO5, whatever amount u spend on all those, make sure u divide it into twelve and add it to the 12.5-16.5k monthly savings, whatever the outcome is,is what u will be saving per month.

So that, once there is need for any of those, u will just go to the bank, withdraw and solve d the problem. U don't have to wait until u are paid b4 u can do things.

Like I said, if u really don't have any other responsibility apart from ur immediate self, because If u do, trust me, u can't save a dime. because one family problem or the other can just come and swallow the whole 600k in just 2days. I just pray it will never be ur portion.