Family / Re: Recommend A Water Purifer by 77FOT: 11:47pm On Jan 24, 2018 |
Warfibabe: hello i am using pure it Unilever. very good. but i bought mine 20k in Warri. @Warfibabe, thanks. Please which of the stores in Warri did you buy from? |
Family / Recommend A Water Purifer by 77FOT: 11:10am On Jan 24, 2018 |
Hello Fam, Happy new year!
Please kindly recommend a water purifier for family use.
I recently bought a brand called HASEL but it seems not to be working (NB: Its leaking and the PH level of the water is not acceptable)
I have done a couple of searches on the internet...
I like Unilever's Pureit but the current price (about..50k) is above my budget. |
Family / Re: Family Finance by 77FOT: 11:03am On Dec 15, 2017 |
helovesme:
You’ve done really well so far.
Remember to stay focused.
That said, investment/savings nko? What have you done with the extra cash (no matter how small ) that you’ve managed to save this month ?
Do not leave idle cash in your bank account as it’s easy to fall into the temptation of spending it. Get your spare funds locked up in an investment product pending when you decide what you want to do with the bulk funds.
I mentioned the MM Fund. Have you thought about it ? Thanks.
Yes I am considering all option you suggested.
However, I want pay-off the remaining 750k balance for plant of land I have started paying for.
I don't want the land transaction to linger for too long.
1 Like |
Family / Re: Family Finance by 77FOT: 2:45pm On Dec 13, 2017 |
DonBobes:
My wife drew my attention to dis ur topic n plights. M afraid I have somethings to discuss wit u concerning DISCIPLINE etc. u need it but i am not forcing u to hear me out. I reiterate U NEED IT. I have an account on Facebook QUEEN TANYA or TANYA QUEEN. I will commit myself to u for two days because i am a busy man. Its not by force I still reitorate.
You should send me TEXT TO START. I SAT DOWN TO LIST OUT MY POINTS TO DISCUSS WIT U. U need it Thanks! I will contact you on FB |
Family / Re: Family Finance by 77FOT: 2:26pm On Dec 13, 2017 |
DonBobes:
My wife drew my attention to dis ur topic n plights. M afraid I have somethings to discuss wit u concerning DISCIPLINE etc. u need it but i am not forcing u to hear me out. I reiterate U NEED IT. I have an account on Facebook QUEEN TANYA or TANYA QUEEN. I will commit myself to u for two days because i am a busy man. Its not by force I still reitorate.
You should send me TEXT TO START. I SAT DOWN TO LIST OUT MY POINTS TO DISCUSS WIT U. U need it @ DonBbes: I need all the help I can get. What number do I send the text to? Thanks for the offer to help. |
Family / Re: Family Finance by 77FOT: 9:10am On Dec 13, 2017 |
Agbaletu:
You need to check and ask people, there must be a market that is closer to you to get cheap food stuff. Coming to Mbiama to get this few items does not worth the risk.
Pls, have they fixed the E-W road in Mbiama section? Yes the E-W raod Mbiama section has been fixed. That very bad spot has been fixed. I hear NDDC fixed it. Although, we bought some other items which were not listed or send in the pix. Your suggestion is very valid! My assessment....the distance was not worth it. However it was a good experience. Oil Mill market is a far better option. |
Family / Re: Family Finance by 77FOT: 5:33pm On Dec 12, 2017 |
babythug: I'm so excited to read these updates! God be with you and your family Amen! Thanks for your immense support ! 1 Like |
Family / Re: Family Finance by 77FOT: 5:30pm On Dec 12, 2017 |
FireRain: Weldon sir and I pray that 2018 will be a productive year for your family,regards to Mrs and d kids,all d best. Amen! Thank you for your immense support! 1 Like |
Family / Re: Family Finance by 77FOT: 3:22pm On Dec 12, 2017 |
Pictures of the first batch of items bought:- a) 6 Tubers of yam b) 1 Basin of garri c) Sweet potatoes d) Bunch of plantain e) 4 Measure of beans f) 2 Measure of Crayfish g) 1/2 Measure melon(egusi)
etc.... 6 Likes
|
Family / Re: Family Finance by 77FOT: 3:21pm On Dec 12, 2017 |
Hello fam,
Thanks for all the wonderful inputs.
I find myself reading through all the over and over again.
I must confess all your advises are thoughtful and well balanced.
Update:-
It feels so good to be in-charge!
I am not there yet O
Na investments and side hustles I dey look for now!
As a follow-up to the great input from everyone here and my desire to make a change....
1. November 20th, 2017: I searched for my" The Richest Man in Babylon" I couldn't find it so I opted for the audio version on Youtube.
Menh! that book something else. The first chapters of the book was very revealing.
What?! I saw my life in the main character. That was a mirror of my the state of my finances.
I also saw that my concerns are not new and are not particular to me.
And that I was not bewitched.
2. November 28th, 2017: I formally informed "Mrs." that the monthly transfer of 250k will not happen for December.
Her reaction?
Just Ok and was well managed.
To be candid occasionally,I feel like venting my frustration over this financial mess on her but I just keep my cool.
I understand that to be in this mess is bad enough....I don't want to make an already bad situation worse by allow the financial mess to cause cracks in my relationship with her.
The fault is not all hers. I also share part of the blame.
3. November 5th, 2017: Took a day off from work and off we went to Mbiama Weekly market.
It was an experience: With 60k we were able to buy all the food stuff that we needed for the month(except rice)
Learnings: Stuff are repetitively cheap but Mbiama is too far from where we live in PH, going-forward will try Oil Mill Market in January 2018
4. November 6th, 2017: Gave Mrs. 100k...(50k for Baby and 50k for general house keep)
5. November 11th 2017: I made a list of all request for financial assistance: Total:260k... I gave out 40k....I beg I can't save the world!
Till watching how things play out.
Revolutions:
I am determined to start paying myself at least 10% of my income in-line with what I learnt in the book"The Richest Man in Babylon"
2 Likes |
Family / Re: Family Finance by 77FOT: 11:04am On Nov 20, 2017 |
oluplus: Op, if you ask me, you are not doing bad, though there's room for improvement. For you to have realized issues around your finances means you are prudent financially. Nigerian economy is bad and things are generally expensive. My advise: try to get inverter and do away with weekly generator fuel money. It pays in the long run. You may also consider subsistence farming, if you have the opportunity. I did that this year with rented 5 plots of lands and am happy with the produce. I will definitely not buy some food stuff throughout next year. Finally, take the advise on contribution seriously. Alternatively, do a voluntary contribution to your PFA account. You will get it back with accumulated interest. Pls don't querry madam again. Just work closely with her. Thanks! I will include inverter on my list as suggested. 1 Like |
Family / Re: Family Finance by 77FOT: 11:03am On Nov 20, 2017 |
adedelight: Do you live in an highbrow area in PortHarcourt that make the cost of living o be that expensive.I guess your wife was raised in affluence and she wants it to continue like that.If you cannot do something tangible with 400k,you will not do anything with a million naira.
I stay in PH too with about half of your salary and I have a house of my own courtesy of God and my prudent wife.Talk to your wife and save for the raining day.
If need be we can meet and have talk together. Thanks! I just know something is wrong. With my role in the office, I know how much all staff earn and I am privileged to know that many guys earning less than me are either building or in their own houses. 2 Likes |
Family / Re: Family Finance by 77FOT: 5:10pm On Nov 18, 2017 |
Less I forget:
Total request for financial assistance as at yesterday Friday 17-11-2017 :
A. via call #80k (he is a former neighbor.....he has issues with local money lender he borrowed money from)
B. via call #150k (met him during my NYSC years ago...helped him through School...he just left Youth Service wants to start a small business)
C. via call/sms #50k (visually challenged friend......we attend the same church.....wants to write Trade Test(NATEB) and Special GCE as a requirement for LASG job program for people living with disabilities)
D. via verbal/call #any amount (he is a junior colleague at work father's burial today)
E. verbal/call #any amount (former class teacher of my daughter....mother's burial on 25th Nov. next Saturday)
The month has not ended Oh! |
Family / Re: Family Finance by 77FOT: 4:56pm On Nov 18, 2017 |
FireRain:
Well done to everyone Mam babythug,helovesme.dunasy.coldplay.Uju..everybody..you have made valid points infact am learning too,may God bless your lives,Oga 77FOT,may God made it easy for u and ur wife,honestly d economy is not helping but there are millions out there living faarrrrrrr below yours and coping well,all the best sir. Thanks! |
Family / Re: Family Finance by 77FOT: 4:28pm On Nov 18, 2017 |
UjuJoan2: 250k for 4 kids (including an infant) is not too much to spend ooh. PH is a very very expensive place. Taking care of an infant is expensive. Baby formula, diapers, cereal e.t.c.
But OP I agree you can still cut cost. I noticed recently that it is way cheaper ( and healthier) if you process your baby cereal yourself. Corn, dawa, soya bean, crayfish, e..t. c. At the end of it all you get a very healthy cereal and you don't even need to add too much milk to make it sweet and creamy. Try it. I used to spend almost 60k on baby items, but now I spend barely 25k and my baby is as chubby and healthy as ever! Please if you have the time share the full ingredients list with me and preparation steps. Note: baby is 7 months . |
Family / Re: Family Finance by 77FOT: 4:24pm On Nov 18, 2017 |
Hello Fam... Updates:
Using the great suggestions and advise shared be all the wonderful people(thanks to each one you...)here....our cost cutting discussion continued:Mrs agrees with me that something must be done.
To be honest this thread has been like a workshop/training of immeasurable value to me....the ideas shared are awesome!
Hence, starting from November 2017:
1. All purchases will be done in bulk.
a. Rice 50kg Bag
b. Beans 1/4 bag(used to be "4Litre" Paint bucket)
c. Palm Oil 10litre(Used to be 1.5litres)
d. Vegetable Oil 10litre(Used to be 3.0litres)
e. Garri 1/4 bag
f. Cray Fish measure of 2 "4Lit Paint bucket
g. Indomie noddles 2 cartoon of Superpack
h. Washing Powder/Detergent 5kg
i. Beverges we will try the rolls of small sachet option.
Others:
i. Fish....we prefer freshly roasted/smoked fish so can't buy in bulk
ii. Plantain will be One bunch at a time to avoid spoilage
iii. Yam...still thinking on preservation...we eat average of 10 tubers in a month.
iv. Chicken/Turkey 1/4 cartoon
v. Babay Care 8k per week (32k for the month)
vi. Fuel 3k per week(12k for the month)
vii. Miscellaneous: 10k( Includes school snacks, etc)
I am still working on the detailed budget because I am yet to verify the current (PH) market prices of some of the items list.
Market options: OIL MILL Weekly Market(Wednesdays), Mile 3 Weekly Market(Saturdays), Ibiama Weekly Market(Tuesdays)
Please...I am open to additional comments.
Thanks! 3 Likes |
Family / Re: Family Finance by 77FOT: 6:41pm On Nov 17, 2017 |
@babythug
@keepingmum
@dunasy
@Roseey0
@Jaychubi
@izaray
@Firerain
@Janefarms2015
@serenegroup
@Noloss
@yeyerolling
@tallar
@agbaletu
@Acidiosis
@helovesme
Thank you so much !. 7 Likes |
Family / Re: Family Finance by 77FOT: 5:31pm On Nov 17, 2017 |
janefarms2015: Listen to the advice of babythug, and also stop sending mrs 250k monthly kilode? Dont be suprised she will be taking care of her families problems with part of that, send her 100k, she will know how to manage, how do you pay ur kids school fees? I may sound harsh but your wife is not prudent enough, what if your salary is 150k, wont all of you survive? My friend wake up before its too late Thanks a bunch!
As at yesterday evening when I got home, we had a discussion based on the feedback I got here.
I don't think she is sending to her folks.
My parent in-laws are comfortable.....
she has only on sibling who is also married.
I found out we have spent 150k already...
That means 150k for 2 weeks in the month!
I can confirm that retail buying is not cost effective for us.
Hence, the bulk buying option is way to go.
We also plan to cut cost on fuel.
6 Likes |
Family / Re: Family Finance by 77FOT: 5:20pm On Nov 17, 2017 |
Acidosis: Family of 6, 250k per month?
I don't think that is too much in a place like P/H.
Some Bachelors earn 200k monthly and can't account for any thing. DSTV, fuel, transport and electricity bill gulp about 50k. Food and upkeep take a larger share, so what's left?
You've got TBills investment plus an asset (land). Worry less, it is not as bad as you think. To clear your doubts, sit with your wife, try to know what she spends on, and see how you can manage the budget.
It is not an easy task to take care of 5 people plus yourself. Some people are finding it difficult to maintain 1 girlfriend in spite earning averagely. Plus you also need to consider the fact that baby stuffs are expensive.. Bros you've got 4! As in 4! You can't work with the same budget posted by people with 2 teenagers. Thanks bro...
I am taking notes.
I am careful not to make drastic changes but change is inevitable now.
Living Pay-Check-to-Pay-Check is not good for me.
What I am looking at mainly is how to save cost on fuel and making bulk purchase of food items in other to save cost. 1 Like |
Family / Re: Family Finance by 77FOT: 5:14pm On Nov 17, 2017 |
Agbaletu: O ga o 250k for a family of four! Op, please do something very fast. My driver earns 75k in abuja, he has almost completed a three bedroom flat in Nasarawa State and he bought a car he uses for taxi after closing by 4-5pm. He has two kids and a wife o. 250k is just too much man! Ore, I tire ooOOO.
Ki Olorun sanu mi o.
I am challenged and encouraged by the responses.
Thanks. 1 Like |
Family / Re: Family Finance by 77FOT: 5:11pm On Nov 17, 2017 |
tallar: Hello, I am a woman and I manage my home and also try to save and these are the things I do, I hope it can help u. Meat; I buy a full goat btw 13-18k depending on size (including killing and cutting) not from market women but the slaughter, I buy chickens from farmers directly during off season btw 1k to 1.5k depending on the size 5k total. I portion the goatmeat 30pcs per bag and keep them in the freezer and it can last me for 3months. The chicken I use when I feel like eating chicken stew
I buy rice, palm oil and garri in bulk sometimes vegetable oil(off season too). I just bought rice for 9k half bag and it should last for 5months. Every Saturday, I limit my spending to 4K (this includes, salt, Maggie half pack, dry pepper 100, G/oil etc)or less for soup and stew depending on the soup I am cooking For fuel 4500 is what i spend cos I need my freezer frozen due to the meat, chicken and other things I store. Dstv 1900, water bill 4000, Gas refill is every 2-3months depending on usage. I buy provisions like milo, milk sugar from wholesalers and mostly small satchels or refill packs. 8k. Pure water 3000, data 6k, Airtime 3k.
Most times when price of things have gone up, I reduce the foodstuff I buy. For instance, if yam is expensive I don't buy, I substitute with plantain or sweet potatoes. I try to maximize the cash I have as much as possible and most times I end up not spending up to 100k in a month.
Pls tell your wife that you are in debt and that the company has decided to cut your salary. Therefore her upkeep money will be reduced from 250-150k. Then give your bank a standing order that as soon as you get paid they should deduct 150k into an account that you can't withdraw from till end of the year. This way you won't have spare cash to help all and sundry but u will have substantial savings by year end. Also encourage your wife to save telling her that as the economy is getting bad u need her to save so she can stand on her feet Incase anything happens to u or your job. Nobody knows tomorrow. Wish u the best.
Thanks a lot.
Your points are very revealing....
I have never thought of taking advantage of strategic seasonal bulk buying.
Waooo. |
Family / Re: Family Finance by 77FOT: 5:06pm On Nov 17, 2017 |
yeyerolling: Bear d consequences. See as u born pikin plenty Yours sincerely... Having so many children is just not worth it.
I am not blaming my kids though...
From the response I have gotten here(on NL),there is something fundamentally wrong with our spending pattern.
I am taking notes and will implement practicable options. 3 Likes |
Family / Re: Family Finance by 77FOT: 5:58pm On Nov 16, 2017 |
Noloss: What I will suggest is that you start monthly contribution with some trusted people in your office or join a cooperative and take upfront loan. When you take the money, complete your land payment and start doing something on it. Saving money may not work with the type of wife u have. But when u have financial commttiment/loan to service everybody will adjust by force. I pray you will not learn in a hard way. Most people working with Federal Government doesn't earn half your salary and they are doing fyn. Strive hard to have ur own house before your kids fees get skyerocketed. Thanks a lot.
No upfront loan opportunity in my place of work.
The contribution option is very helpful.
That was how I saved to buy my car.
I will look around for colleagues who are interested. 1 Like |
Family / Re: Family Finance by 77FOT: 5:52pm On Nov 16, 2017 |
serenegroup: Bros I must commend the fact that you now realise that you have a big problem at hand. 400k is a good salary for investment and living comfortably. But think of what will happen to you now if without warning you are relieved of your job.
1. pls cut down as fast as you can the 250k you give your wife, and follow the advice of those above me that says you should chauffeur your wife to village market to get good bargains. my dad did transport my mum to distant markets and it was very advantageous financially, people say give her 180, me I say give her 150k. you should settle your debt on your land as quick as possible.
2 download any personal finance app that can guide you in how you can track your daily and monthly expenses. I use it and its helpful.
3. start reading books about money management it will be of tremendous benefit I don't normally do this but I will recommend rich dad poor dad for you, it will help you from preventing your finances from careening off the cliff
4. make it a point of duty to gradually cut down on your wants and prioritise family needs. savings and investment must be 40 percent of your income. live on the rest heaven will not fall. learn big brother learn. I wish you good luck brother
5. Learn to say NO to all demands from people that comes cap in hand begging for money. explain to them that you have a project that's consuming much of your income. Thanks a lot! Thanks for the wonderful tips! |
Family / Re: Family Finance by 77FOT: 5:49pm On Nov 16, 2017 |
keepingmum: Great... tell madam they have started deducting ur salary and for that reason, you ll need to buckle up....pay 120k to her acc and then 3wks later, pay anothet 30k......save the other 100k
Lock up for everybody elze because you ll keep solving problems for the same people whom in 5years will turnaround and mock you for DOING NOTHING FOR THEM and having no assets despite having a good job
Madam will hoff and poff but eventually calmdown......dobt upgrade ur car or gen....and pls take a break on kids Thanks a lot.
She claims life in PH is more expensive than LAG.....
I think one of the mistake I made was to reveal how much I earn just after I got this job.
You a right on your assertion on the many people calling me for financial help. My mother and my mother-in-law has said the same thing. They got know I don't turn down cry for financial help from my wife.
There are no two ways I must take a stand and make adjustments before its too late. 7 Likes |
Family / Re: Family Finance by 77FOT: 5:40pm On Nov 16, 2017 |
helovesme: 77FOT
Are your kids not enrolled in any school?
I cannot see school fees/childcare expenses in your expenses breakdown.
Your biggest challenge is how to reduce the 250k you hand out to your wife every month. I doubt she would agree to a “cut” without a serious fight.
I really doubt she spends that much a month on general family expenses (minus school fees).
Why should she claim shopping at a particular market isn’t convenient for her? If items at that market are cheaper, why not choose a particular day and drive her there yourself, wait for her till she’s done with shopping and then bring her home.
4 kids with no investment or savings isn’t a good thing. You both need to sit down and have a serious heart to heart talk on your family expenses and how to get out of the financial hole you are in.
Finally, do you two plan on having more babies? I honestly can’t understand why a woman with very little income to support her husband will agree to have 4 kids in this current economic climate. I see how much very good schools are charging per term and how much it costs to send a child to a private university or even overseas to study . . . . Your kids future education wise should be your priority now and you need to start planning towards it ASAP. Thanks a lot
School fees and rent not included in the 250k.
I will get more involved just as you and other great people have suggested. Next month, I would drive her to the market to encourage her and see how much difference we can make.
We have agreed on No more babies. 6 Likes |
Family / Re: Family Finance by 77FOT: 2:54pm On Nov 16, 2017 |
Roseey0: Cut down on the fuel_ your family will get use to it over time. Do bulk purchase once every month or 3months Be involved with the buying of things_ am not saying you should start querying your wife o. But just be involved. You are not doing bad from my analysis Atleast you know your weakness_ cut down on financial assistance until atleast you find multiple source of income. Givers never lack. You need to save for emergencies. Set monies aside and leave it untouched for contingencies. And pls one last important one.... Stop comparing your life with your colleagues Just stay focused and plan for the future. The higher your kids grow the higher the expenses until they become independent and choose to give back. Once you can take care of your family and you all are happy and alive Leave accumulation of wealth of this world. All is Vanity .... It takes just a second to transit. One will start regretting why they were busy accumulating rather than putting smiles on theirr family's face.
You have made attempt to invest, I know you are in the right track. Just stay focused and give it time. Thanks a lot.
I will work on the areas listed.
Recently, I was forced to query my wife and even compare her with my mom who will travel far to periodic village markets to get good bargain for food items.......and that discussion did not end well On comparing my self with my colleagues.....Sincerely, I don't want all they have but I want to build a decent home for my family like some other have done. |
Family / Re: Family Finance by 77FOT: 11:29am On Nov 16, 2017 |
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Family / Re: Family Finance by 77FOT: 11:29am On Nov 16, 2017 |
dunasy:
Me thinks from your take home each month, first things first, remove 140k and keep.
Work with the remaining as much as you can.....nothing would happen to you....your savings would just be fatter and you can keep up with some termly expenses when the need arises e.g school fees, house rent.
When you do bulk purchases, you tend to save more.
Note: this are personal things I have done that has worked for me....... Expect more responses that would help from people.
All the best in your savings, Thanks a lot.
I am taking notes of your suggestions too.
Mrs would only buy rice in bag which lasts up to 3 months.
Every other food item is bought from retail markets on weekly basis.
I have suggested some tips like buying from Weekly markets like ELEME Market but she claims its not convenient for her.
I tried buying myself but these PH women have a way of cheating men.
Bulk purchase (particularly for perishables will be difficult because of unreliable power supply in my neighborhood. |
Family / Re: Family Finance by 77FOT: 11:16am On Nov 16, 2017 |
babythug:
Let's start from here for now. Please don't get me wrong I'm not asking you to live a poor quality of life just letting you know that you can live within your means and generally remain on top of your finances.
You can decide to prioritize building your own home and use that as an "excuse" for pruning Thanks a bunch!
Yes I transfer the 250k to her after receiving my salary.
When were in Lagos our monthly expenses used to be between 150k and 170k.
On your other suggestions, I am taking notes.
I will implement them.
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Family / Re: Family Finance by 77FOT: 9:53am On Nov 16, 2017 |
keepingmum: Breakdown the 250k expenses cos thats quite high.... Thanks. I don't have have all the details but I know the basic things: Raw food items (Plantain,Yam,Potatoes,Garri,Beans) =18,000 Soup/Stew Preparation (3,000 per week) = 12,000 Indomie noddles (2 cartoons per month) =5,400 Beverages and other groceries =10,000 Cooking Gas (12.5kg) =4,000 Baby Needs (NAN,Nutriend,Cerelac,Pampers and others =50,000 Fuel for Gen Set (4,500 per week) =18,000 Fuel for Car (4,000 per week) = 16,000 "Treated" Sachet Water =3,000 Total -------------------------------------------------------= 136,400 The above expenses are things I am aware of. I am see 113,600 unaccounted for. 1 Like |
Family / Re: Family Finance by 77FOT: 8:47am On Nov 16, 2017 |
babythug: Do you care to share the living expenses?
Does your Mrs currently earn an income?
What does your accommodation cost?
What areas do you think costs can be cut?
Do you have dependants? Social vices that cost money- drinking, hanging out, womanizing?
Respond and we can take it from there Does your Mrs currently earn an income? _Mrs holds a MSC in Social Works. Job search has not yielded much results. She is currently NPOWER volunteer with 30K monthly. What does your accommodation cost?_ Accommodation is 400k per year. What areas do you think costs can be cut?_ Have been brain storming on this particular cost cutting thing Do you have dependants? Social vices that cost money- drinking, hanging out, womanizing?_No social vices. I have a weakness. I find it difficult to say no to other peoples' cry for financial assistance. 1 Like |