Rich4god:
Good day guys. I am just so confused....

Three years back, I got a job where the pay is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

Your rent should be your two months salary max. You are already living above your meeans. In addition to paying your parent's rent, you won't break even if you continue like this

Please if there's vacancy in that your firm, do let me know

MrOreo:

That's cold man, could be true though.
In addition to that, he prolly spends like #100 on recharge cards for a month, eats like once daily or has a bag of garri and sugar at home, doesn't have a GF, tries to leech off others when he can, never sends money to anybody, is not a social person. I could go on and on. I'm not referring to anyone here, I know some people that do this, so i can relate.

I can relate too....
I know some guys like that!

they just fail to live life and when reality finally hits them, it's always too late!

Moderation is key!.
Take but not too much
Do but not too much
Ask but not too much
Give but not too much
Collect but not too much
Love but not too much
Play but not too much
Work but not too much
Care but not too much
Listen but not too much
Talk but not too much.....

I can go on and on but the key word; folks, is MODERATION

femi4:
Your rent should be your two months salary max. You are already living above your meeans. In addition to paying your parent's rent, you won't break even if you continue like this

not necessarily!
There are other factors to consider other than how many months u are working for your landlord!

I know a marketer who recently relocated to the island to stay.....
being a marketer he knows what he went there for and it has already started paying off!

Know thyself and what will ultimately benefit thyself!

The challenge I have with most folks is misplaced priority, u see people doing things for the wrong reasons.... Trying to drive a flashy car because they want to look like they have arrived! Living in Banana Island because of what other people might say.....
Therein lies the problem!

Even those that have arrived always try to make it seem like they haven't arrived yet.... that should speak volumes!

obekediamondfuto:


not necessarily!
There are other factors to consider other than how many months u are working for your landlord!

I know a marketer who recently relocated to the island to stay.....
being a marketer he knows what he went there for and it has already started paying off!

Know thyself and what will ultimately benefit thyself!

The challenge I have with most folks is misplaced priority, u see people doing things for the wrong reasons.... Trying to drive a flashy car because they want to look like they have arrived! Living in Banana Island because of what other people might say.....
Therein lies the problem!

Even those that have arrived always try to make it seem like they haven't arrived yet.... that should speak volumes!

my message is based on strict salary earner not marketers

Trendy247:
Tell your parents to move back to the village since they cannot afford their house rent. That way you can even increase that 5k monthly stipend to 50k for them

Very wise advise!!!

If you guys cannot stay together and be merging the rent "for now", then they should move to the village.... because sooner or later they will have to!

Then u wouldn't have to give them 50k sef, u can just probably take a cheap loan and open a small shop for them in the village where they'd be selling maybe foodstuff or something!

femi4:
my message is based on strict salary earner not marketers

even for salary earners.... there are so many reasons...
I used marketer to illustrate the reason behind the movement....

try to understand the contextual message!

PS the marketer I'm referring to is a salary earner! His target was high profile individuals and accounts.
He made the move to build his network and establish quality relationships!
I actually discouraged him with reasons that he could also get the same kinda connect from everywhere.....

but now I truly see! levels Don change...

he now has access to some high profile guys in just a few months....

anyways, the guy kukuma na serious talkative...

You can join any registered club and partake in there monthly contribution at least 40k monthly it will help ypu to save up.

Saving 400k is not a bad start, You're paying House rents feeding and Transportation I'm sure you're giving parents feeding allowance too so not bad, Good thing you didn't include a woman in your expenses.

obekediamondfuto:


I can relate too....
I know some guys like that!

they just fail to live life and when reality finally hits them, it's always too late!

Moderation is key!.
Take but not too much
Do but not too much
Ask but not too much
Give but not too much
Collect but not too much
Love but not too much
Play but not too much
Work but not too much
Care but not too much
Listen but not too much
Talk but not too much.....

I can go on and on but the key word; folks, is MODERATION

You're a wise man.

starbuck:
Please if there's vacancy in that your firm, do let me know

My firm is always recruiting, depending on your location.

Luvlyna:


How can you be earning 100k and be paying rent of 250k .
I'm very sure you're trying to live up with the jonses.
Bros you are your own village people o. Na u dey follow yourself, stop blaming the innocent villagers Abeg

I just tire for d op,who is he trying to impress? family? friends or the girlfriends who will still not appreciate ur efforts

Income determines the spending powers.

You collect 1.2M per annum.

280k on rents(you n parents) per annum- not bad

5k stipends making 60k in a year for your parents- Not bad


Unforseen situational financial help to parents per annum - 50k plus or minus

For example if u take a bus or bike to work(you don't have a car I'm this case) 72k in a year for this at the rate of #300 daily.
Let's say averagely u spend 2.5k on electricity without generator(I pay 4k to 5.5k monthly in Lagos)- 30k

Now if you don't have a child and in between two years you are not nursing any sickness that requires you spend money or on anyone,

Let's agree you spend 300k(excessive if u have other dream to pursue as a young man) on yourself in a year...

Your expenses are about 800k in a year...too much to spend for some thrift spenders..

Meanwhile with the above you still have 400k left in a year.

In 1 year you should have that 400k you have in three years.

In a nutshell, you are not followed by any village ppl, you only re spending recklessly. As a youth, you need to be careful. There's always a hay Day for everyone.

I have known ppl who are spending recklessly doing "fala folo" but when they want to be wise, the money ceases.

250k rent isnt bad.

MrOreo:

That's cold man, could be true though.
In addition to that, he prolly spends like #100 on recharge cards for a month, eats like once daily or has a bag of garri and sugar at home, doesn't have a GF, tries to leech off others when he can, never sends money to anybody, is not a social person. I could go on and on. I'm not referring to anyone here, I know some people that do this, so i can relate.

Lmao!

How can you not be referring to anyone... say things with your chest.

Fuckgratulations:
by my calculations you spend about 500k a year on house rent obey your parents upkeep, if you include your upkeep for a year it will rise to about 700k a year, that means you are left with about 400k savings per year minus miscellaneous expenditure, so saving up to 400k in three years to me is a good job, if you want to improve cut down your expenses especially your house rent and that of your parents. there lies your problem

Fact... U have said it all....cutting down on the rent n monthly expenses....
Plus he shd consider buying cheaper things or in bulk...
Let me ask...does he have a generator... And he buys fuel always...
He shd switch to solar

Op I hope it's not a woman that pushed you to rent such a house even in ur present state?

It shouldn't even be for a change of lifestyle when your income hasn't improved.

There are so many questions that needs to be answered before we can decide on your case o.
1. Are you the only child or first born?
2. Are u beginning to keep girlfriends?
3. Why did you leave the 150k house for the present?
4. Are you the only child who has a job in your family?
5. Is it possible you relocate your folks to the villa?
6. Cant you bring your parents to come live with you in the 250k rent?
7. Do you know who ur village pple are?


The only states I know that can be gulping outrageous amounts for houses to rent are Lagos,PH,Abuja and Calabar...do you live in any of these states?


I still applaud you for saving 400k.

Rich4god:
My firm is always recruiting, depending on your location.

Can I pm you

obekediamondfuto:


even for salary earners.... there are so many reasons...
I used marketer to illustrate the reason behind the movement....

try to understand the contextual message!

PS the marketer I'm referring to is a salary earner! His target was high profile individuals and accounts.
He made the move to build his network and establish quality relationships!
I actually discouraged him with reasons that he could also get the same kinda connect from everywhere.....

but now I truly see! levels Don change...

he now has access to some high profile guys in just a few months....

anyways, the guy kukuma na serious talkative...

A strict salary earner doesn't need a network to build. His salary is based on coming to work. No more, no less. No other factors improve or reduce his take home

Rich4god:
Good day guys. I am just so confused....

Three years back, I got a job where the pay is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

You did well. The only thing that will change things from good to bad is your new rent. Even if your salary increase in months to come you might not be able to meet up again on your savings. So, you shouldn't have change your accommodation.

[quote author=Rich4god post=81332497]My firm is always recruiting, depending on your location.[/quote

Hello bro. I just pm you.

femi4:
A strict salary earner doesn't need a network to build. His salary is based on coming to work. No more, no less. No other factors improve or reduce his take home

SMH for u BRO

larryking540:

I just tire for d op,who is he trying to impress? family? friends or the girlfriends who will still not appreciate ur efforts

I don't have a girlfriend, at least for now. Secondly, I leave far away from my family. So am not trying to impress anyone.

starbuck:




Can I pm you

Sure u can.

Hotworta1:


Lmao!

How can you not be referring to anyone... say things with your chest.

Who could i possibly be scared of? I know of someone that does it.
A friend usually tells him that he'll die and leave the money behind one day and other people that don't know how the money came about will help him spend it well.

Rich4god:
Good day guys. I am just so confused....

Three years back, I got a job where the pay is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

Note... By using the phrase "are my village people following me", I was only been sarcastic.

You are extravagant my bro!! You spend like someone earning 200k and above!! How often do you change your phone too??

Seriously, just look into your expenditure and try to cut the cost... Try to set a target amount you want to save in the next 6months. Also, get a side Hustle that can supplement the salary you are earning now..

It's not your fault, economy is hard. Money goes down very fast. God bless our hustle(Amen)!!

Rich4god:
I don't have a girlfriend, at least for now. Secondly, I leave far away from my family. So am not trying to impress anyone.

then cut ur extravagant lifestyle,
u don't have a girlfriend and u wan day parent of 250k bro wake up and stop acting as a potential prey to d females o,be careful o

Before you can determine whether you are being extravagant or not, you need to go back to the basics. Each month, what are your fixed costs? How much do you spend on transport, feeding, etc on a monthly basis? That determines how much is left you can reasonably save. As someone already mentioned, you need to open a separate savings account and pay yourself FIRST before non-fixed expenses.
Also, your accommodation, although paid yearly, can be saved for on a monthly basis.

obekediamondfuto:


smart guy!

just that I don't think the scenarios are the same...
op obviously has responsibilities and pays his own rent....
u on the other hand, were trekking to work and probably squatting!

lol... Read the modified post

Virginkpekus:

So out of 1.2million you earn in a year you saved 900k meaning you survived on just 300k for the whole year....Bros abeg which kind lie be this biko.
You dey chop? You dey pay rent? Do you wear clothes? Na leg you dey use go office? Even just being alive costs money.

lol.. Read the modified post

Vanpascore:
Guy, yu tried, but yu shouldn't have changed to a 250k apartment except if it reduces your spendings on transportation and some other things because by now yu just increased ur rent from 280k/yr to 400k/yr, ur parents inclusive.

d rules is.... "donot rent a house whose payment is more than two months salary!!! U have 400k accommodation which is 33% of ur income!!! Nd Gues what feeding nd other expenses will take more than 50% of ur yearly income..... All things being equal... U maynot b able to save up to 150k in d next 4years at dis rate!!! Excluding remitances ###

You even tried self,what of people earning 150k but have not saved up to 300k for d past 4 and half years..but the new rent is a no no no,currently am paying 192k on huz rent and planning to get a cheaper one say 160k.. Our money no get value abeg

There's nothing wrong with your decisions, the fact that you put your parent in mind is something commendable.
130k to 250k house rent is a wrong move.