If you’re single, earn 400k & can’t live on N62, 500/per week (N250k per month) in Nigeria; you’re going to have a hard time with money in this life.

If it was so tight how did you afford the car, house electronics and furnishings in the first place?

damosky12:


LOL. 1 m? You are disconnected from the Nigerian reality. You have to climb off your high horse and smell the coffee.

There are families of four five six who live on less than 100k per month. And they are not dieing.

There is a cloth for every size.

BTW, how many people get jobs that pay 400k? Let's just be grateful. What you have (no matter how small) is wealth to others...

I just tire. It seem some people are not aware of the current situation of the country when we are talking about getting Good jobs that pays well in Nigeria.

room089:
You must definitely marry and have children, why procrastinate this reality?

Sir the bold is not a must!

It is funny that most of the posters here don't know that they spend like the OP in their own way.

Just take one or two months and keep a diligent track of your income and expenses and you will be surprised at your spending habits.

It is easier said that done. That does not mean the OP need not adjust his lifestyle. Earning more salary will not change this pattern it would only expand it after a short time.

Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..

- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.

Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)

Total = N395,200
Savings - 7,800

How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.

First of all the guy should get a cheaper apartment, like a 500k yearly apartment. He should cut down on his recharge card bill, cleaner bill. Let him clean his house himself it's exercise.
Then the ₦10k monthly he spends on laundry that's ₦120k in a year. With ₦80k he can get a good washing machine and save ₦40k.
He should better learn how to cook cos buying food like that will finish his money with the speed of Usain Bolt.

oteneaaron:

Anything can happen at anytime and you can lose the job.

It has happened to many people.
They either lose their jobs or business fails then that person that was a top short or seemed to be living large,goes to begging or riding cab or they become overnight pastors and if he is not d strong willed type completely goes bunkers,all because they refused to be prudent or invested when they were earning good income.
Someone earning that much should be thinking of buying land somewhere and start building something with his savings.
₦1million rent per year is just f oolishness to me for anyone not on endorsement of some sort or earning ₦1million/month,guaranteed long term income.

Let's be honest. Your friend is living a very flamboyant life style.

He needs to adapt to the current situation at hand

Newboss:


25k per week on food? Are you buying your food from USA direct?

The average Nigerian has no financial future. Sense no just dey this country. WTF.

Cook assorted meal and put inside freezer. That is not hard na. This thread dey vex me, abeg

Pls break down your weekly feeding expenses, maybe I will learn something new or know if my wife is cheating financially which I doubt.

That's what I spend weekly and it's never enough, I stay in ph so maybe you factor that in.
Rent alone arround woji for 2 bedroom is 600k.

I have a wife, 2 kids and a maid.

Let us see your weekly feeding expenses

Romanoff:
For one person.

This person is living a large life.

A family of two feeds on 50k per month conveniently.

His feeding bill is off the roof.

He needs to cut down on data and airtime usage.

He needs to get an inverter, with 250k, he can get one that will serve him well for a long period of time. I've used mine for over a year without servicing, I only replaced the water.

He needs to cut down on his hangout expenses.

If he's a commuter that goes from work to house, his fueling bill will reduce.

Can u recommend a good inverter that can power all your household appliances like freezer fridge, television lightings etc

Corporate2020:


It is classified under Hangout/Chills/Network. No be everything person dey loud nah, be coded my Nigga

Esseite

The guy is not frugal as you claimed him to be. He doesn't know how to manage money. He is living above his worth which is highly detrimental to his finances.

He is not frugal at all. He is living an extravagant lifestyle.

Advise him to relocate off that 1m per year house and cut down on lots of his expenses by 60%. There are so many unncessary expenses on that list he should cut down on and he will be good to go.

Cut your coat according to your size.

josdiv:
It is funny that most of the posters here don't know that they spend like the OP in their own way.

Just take one or two months and keep a diligent track of your income and expenses and you will be surprised at your spending habits.

It is easier said that done. That does not mean the OP need not adjust his lifestyle. Earning more salary will not change this pattern it would only expand it after a short time.

This is true. It's very easy to lambast the guy but most of us spend so much.
The guy just needs to adjust his spending like spend smartly.

crestedaguiyi:
Peoplen wey never see money just dey talk any how

I wish I could give you a million likes for this comment.
99% of those condemning the OP haven't reached his income level yet.
How much is 400k abeg?
The only advise I can give him is to get a second and third stream of income.
That's all!

flexyrule:
I wish I could give you a million likes for this comment.
99% of those condemning the OP haven't reached his income level yet.
How much is 400k abeg?
The only advise I can give him is to get a second and third stream of income.
That's all!

Only people who earn that high know how it pinches..that's just the best advise extra source of income.

Newboss:


25k per week on food? Are you buying your food from USA direct?

The average Nigerian has no financial future. Sense no just dey this country. WTF.

Cook assorted meal and put inside freezer. That is not hard na. This thread dey vex me, abeg

Inside freezer.
Where you see light.

karkinase:
I'm sorry to say Nigeria is gone..I see ppl arguing that the guy is extravagant..only if you earn that amount you will know it doesn't do too much.

₦400k doesn't do much?
are you on meth or something? i agree some things are expensive but i will live comfortably on the same salary and still have a savings of at least ₦1m annually,some of you don't know what is call Money management,as a matter of fact 25% of your monthly earnings should go into savings

the person will never be rich in his life......

see how he is wasting money on renting people's property.....

you see the reason why some people will be poor in the future

https:///J8p6FGEdImy0708jUsUeV8,NPOWER BATCH C GROUP AND NEWS AND UPDATES

Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..

- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.

Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)

Total = N395,200
Savings - 7,800

How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.

Sorry. This is my opinion and others may think I'm wrong but this budget is the budget of a pauper. A pauper will receive salary and dump it all on cash outflows. From the bolded and coloured expenditure heads you can extract 200k for investment. For goodness sake you earn 400k and you want to live in Estate. Arrant foolishness. You earn 400k and you want to spend 10k on data and 16k on recharge cards to waste your life on youtube, instagram and twitter and calling people with zero bearing on your success. You want to spent 30k on hangouts with friends that will desert you when you go broke. Mumuism. You want to spend 77.5k on feeding in a month for what? To impress who? Oloshism. You want to spend 67k on car expenses with 400k in Buhari era when you suppose get sense. Why not use public transport/uber/bolt and use the vehicle for uber/bolt to earn more income? DSTV 9k monthly? You are not ready to succeed. You are romancing poverty. Very soon your poverty will be pregnant for you! Be not deceived 400k is a lot of money and if you are prudent you can start your business with a portion of that salary. 200k savings per month for 12 months is 2.4million naira which is enough to start most small businesses in Nigeria.

Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..

- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.

Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)

Total = N395,200
Savings - 7,800

How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.

You dey mad!! What do you want us that earns less than that do?

Make God sha deh help oo...7k 500 weekly on drinksIs it zobo amd ground he uses to chill??

One grilled fish and 2 gold berg don nearly reach 10 k now

I rest my case.

JoeEeL:
You will come back in 10 years time, and you'll ask if 4 million is a bad salary in tomorrow's Nigeria?

Nigeria should not be ended o. Let's keep rocking BBNaija jare. E be like barca sef get match tonight.

One Nigeria

Yawns***

It's not the country
It's the dysfunctional people that inhabit it
That's why even if Nigeria break.
It will still be the same crap

Solatium:



₦400k doesn't do much?
are you on meth or something? i agree some things are expensive but i will live comfortably on the same salary and still have a savings of at least ₦1m annually,some of you don't know what is call Money management,as a matter of fact 25% of your monthly earnings should go into savings

Stop yapping crap..
.

iyke649:
Can u recommend a good inverter that can power all your household appliances like freezer fridge, television lightings etc

I don't use mine to power my freezer or fridge. Just other appliances in the house.

Ok

Bbbwings:

Inside freezer.
Where you see light.

Run gen 2 hours in the morning, 2 hours at night. Abi you wan tell me say you no dey see light for your area at all?

Aswearugaaad

There's nothing frugal in all I read above. I think you're quite extravagant.

You spend 400k alone yet you don't have reasonable savings? No brother or sis in school you're sending 10k weekly to? no family you send monthly upkeep to? No one you take care of except you you and you yet you complain?

You are ungrateful!

karkinase:

Stop yapping crap..Go earn that amount first.
.

I don't even work in a paid employment,but i realize half of that on a monthly basis,i don't wait for paycheck like you.
The problem with you guy's is you want to live the life of a celebrity on a salary,it can't work.
Get a grip on your life before you lose it

We are managing 30k here and someone is asking weather 400k is ok....
Life!

kingemaker:

90% of Nigerian homes are below the poverty level. My estimates are based on how an ideal family should be. Sadly, the country's situations is not getting any better.

It's not a Nigerian thing bro. Less than 25 Percent of world population have a $1000 (500k) income per month. Not to talk of your 1million benchmark. That's huge!

Your "ideal family" is utopian at best especially in the African context. Like I said, it's safe to face reality...

There are some unnecessary expenses you can easily wave/trim down on the list.

Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)

Total = N395,200
Savings - 7,800

How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.

Cut down your expenses as soon as possible, follow my advices
Rent - 41,666 monthly (average 2 bed)
Security – 10,000 Yearly
Estate security - 1,000 monthly
Cleaner - 5,000 Bi-annual if you leave in an apartment where you have between 2 to 4 flats.
Dstv - 6,800 monthly. Pay for compact, you are not always at home, and I understand you want to watch football when you have the time.
Auto Fueling - 30,000 monthly
Auto servicing - 11,500 (3mths projection) “Oil is costly now’’
Auto miscellenous/charges - 10,000 (tolls,pr)

Generator - You cannot be servicing your gen every month.
Monthly Fuel: 15,000
Services: 5,000 every quarter.

Laundry - 5,000 monthly take out Saturday to do some laundry yourself, that will reduce your expense.
Feeding – 46,500 (1,500/day)
Hangout/chills/network – 15,000 (7,500/week) not necessarily. Once or twice is okay.
Clothing/wears/accessories - 10,000 (Quarterly)
Electricity bill - 10,000(monthly)
Gifts - 10,000 (monthly- No wife/No GF) Once in a while.
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 8,000 monthly (2000 weekly)

Total: 251,466
Save: 148,534

Remember, there are some of the expenses you incur on a quarterly basis. Therefore, your saving for months will vary.

karkinase:

Only people who earn that high know how it pinches..that's just the best advise extra source of income.

Exactly my thoughts. I use to do some side hustle (content development/research/product development) that sometimes earn me an additional 100k/150k monthly but got carried away with my current job and little time to deliver. My current industry also made be lose contact with some of my network of geeks so no much business as previously. I still hope to pick up before the year ends.