I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

Remove asap

Please can you explain why I should remove asap? Let's discuss and share ideas if you don't mind

RunzMAN:



Remove asap

From where did you get your analysis from? You must be joking

I guess you're right. But the problem with those living in Nigeria is not usually how much you make, but the daily living expenses. It is not really of much benefit at the end of the day if for instance a driver makes 12k and spends close to 8k on fuel, taxation (legal and illegal), vehicle repairs due to bad roads, etc

The op Na trash be this,how are you sure Nigerian make above 10k in a day. This guy no Dey Nigeria or Na keyboard warrior for Apc.

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

You are right...but there's a difference between making 10k daily and making 10k net profit daily.

Anybody that makes 10k in Nigeria daily as net profit is definitely comfortable.

On a Blue collar job...it's literally impossible to save $25 per day... We see people here make $15 dollars and work 5hours, that's equal $75/per day...you can definitely save 25 and you will be left with $50 per

$50*6working days=$300
$300*4weeks =$1200

Minimum House rent in the states monthly is $1,100

You have $100 left...my broda you will suffer...and before you know...you will touch your savings....it's basically spend as you earn


But white collar job...you make average of $52/hr as an engineer....do the math
You can save as much as you need

I will always advice travel with a work authorization documents abroad and ready to go to school when you land

Goodluck guys

Until one medical emergency wipes off your entire 10k savings that's when you'll know the reason why people run abroad

Fallacy. I am able to save double of that yearly

Amanee:
Until one medical emergency wipes off your entire 10k savings that's when you'll know the reason why people run abroad

You mean like America where some people lose their house for life-saving treatment for their kid, get bizarre surprise med bills, or can't afford critical medication?

It's not by force to travel. If you are convinced by your research, look for that Nigerian job that gives you 10k savings, settle down here and enjoy your life. Shikena!
The only reason you want the mods to bring this to the frontpage is to discourage other Nigerians who have the ambition to leave this godforsaken country.

This argument no dey tire una?

Soulvein:
It's not by force to travel. If you are convinced by your research, look for that Nigerian job that pays 10k, settle down here and enjoy your life. Shikena!
The only reason you want the mods to bring this to the frontpage is to discourage other Nigerians who have the ambition to leave the the country.

lol This sh** isn't going to the fp.

BigDawsNet:


On a Blue collar job ... it's literally impossible to save $25 per day ... We see people here make $15 dollars and work 5hours, that's equal $75/per day...you can definitely save 25 and you will be left with $50 per

$50*6working days=$300
$300*4weeks =$1200

I like your analysis .... but disagree with bolded. An average blue collar will make more than an average white collar and is more likely to be able to save $25 per day. Blue collar income is almost always boosted big time by overtime since his pay is hourly while the white collar is salaried.

@ topic ....$50k to save $25 per day depends on the person's location.... cost of living varies a lot.

Originalsly:


I like your analysis .... but disagree with bolded. An average blue collar will make more than an average white collar and is more likely to be able to save $25 per day. Blue collar income is almost always boosted big time by overtime since his pay is hourly while the white collar is salaried.

@ topic ....$50k to save $25 per day depends on the person's location.... cost of living varies a lot.

You right when it comes to taking a multiple job....

But you know not everyone is fit to handle two jobs

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

$25 that folks earn PER HOUR and even more is what you said it's impossible to save in a day?.

If Christians worldwide can pay 1/10 of earnings as tithe, then you think saving 1 out of 8 - 10 hours wages is a problem?.

Bros change your loud plug.

BigDawsNet:



You right when it comes to taking a multiple job....

But you know not everyone is fit to handle two jobs

Not multiple job.... single job. E.g .... a blue collar worker... $25 /hr.. 40 hrs per week.... $1000/wk... $4000/mth. White collar worker (most likely supervisor+)... $4000/mth. Same pay. The blue collar is likely to make overtime .... each hour O/T he is paid at a rate of $37.50 /he. If he makes just 5 hours OT per week (and this is soooo common).. . that's a boost of $185/week..... $740/month... x12 ... you have a calculator?? .. and we wonder why so often blue collar workers make more than their supervisors.

I did my calculation thoroughly before posting. In Europe or North America someone who earns $50,000 will be left with $$37,000 to spend after tax. A standard one bedroom goes for $14,400 a year. When other bills are factored in I believe you will agree with me that it becomes impossible to save $9,000 a year. That was why I included a video below my post for a breakdown of cost of living

Muleriders:



$25 that folks earn PER HOUR and even more is what you said it's impossible to save in a day?.

If Christians worldwide can pay 1/10 of earnings as tithe, then you think saving 1 out of 8 - 10 hours wages is a problem?.

Bros change your loud plug.

Cousin9999:


You mean like America where some people lose their house for life-saving treatment for their kid, get bizarre surprise med bills, or can't afford critical medication?

I specifically said abroad make of that what you will

I am really enjoying your contribution. I like how you break everything down

Originalsly:


Not multiple job.... single job. E.g .... a blue collar worker... $25 /hr.. 40 hrs per week.... $1000/wk... $4000/mth. White collar worker (most likely supervisor+)... $4000/mth. Same pay. The blue collar is likely to make overtime .... each hour O/T he is paid at a rate of $37.50 /he. If he makes just 5 hours OT per week (and this is soooo common).. . that's a boost of $185/week..... $740/month... x12 ... you have a calculator?? .. and we wonder why so often blue collar workers make more than their supervisors.

Yes! It should read "profit"

Skyfornia:


You are right...but there's a difference between making 10k daily and making 10k net profit daily.

Anybody that makes 10k in Nigeria daily as net profit is definitely comfortable.

timesup234 on the beat again. Mod take note

?

opebiboy:
timesup234 on the beat again. Mod take note

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

You mean anyone earning $50k annually can not save $9k in a year? Oga, you are talking in a nonsense.

You need to ask which country, state, or city the person lives first before jumping into conclusion.

Originalsly:


Not multiple job.... single job. E.g .... a blue collar worker... $25 /hr.. 40 hrs per week.... $1000/wk... $4000/mth. White collar worker (most likely supervisor+)... $4000/mth. Same pay. The blue collar is likely to make overtime .... each hour O/T he is paid at a rate of $37.50 /he. If he makes just 5 hours OT per week (and this is soooo common).. . that's a boost of $185/week..... $740/month... x12 ... you have a calculator?? .. and we wonder why so often blue collar workers make more than their supervisors.

Absolutely bro...got you point! Overtime...just unfortunate not everyone is entitled to overtime... there are set of rules...that was why I talking abt multiple job .. getting a contract somewhere else where they consider your as their full or part time worker

nigeriandream14:
I did my calculation thoroughly before posting. In Europe or North America someone who earns $50,000 will be left with $$37,000 to spend after tax. A standard one bedroom goes for $14,400 a year. When other bills are factored in I believe you will agree with me that it becomes impossible to save $9,000 a year. That was why I included a video below my post for a breakdown of cost of living

Which country in Europe and which city in that country?

This same old argument, if you live within your means yes you can save on $50k per annum in most cities in the US, if you live outside London in the UK and in many European cities. In some like NYC or LA etc. it may be very tight but it majority if the US very very possible. You cannot analyze this with very generic statements like in Europe or US, costs vary significantly across the US and Europe.

You ignore the fact that these people do not have the same desperation to accumulate cash like Nigerians and live to enjoy their lives now rather than wait till they get to heaven so that guy who earns $50k and is not saving much will still go on vacation every year, eat out and have his/her little enjoyment and self care.

I will agree that it is hard to save if you do not have discipline as its very easy to spend spend spend in a country like the US, but if you have discipline, follow a budget and live within your means yes you can save. Also don't forget your after tax amount also includes deductions for pensions etc. so it's not just taxes.

Also your analysis is based on a single person who can rent cheaper accommodation like house share, studios etc. Things get better when they marry as it is now based on household income.

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

sharpman1:


You mean anyone earning $50k annually can not save $9k in a year? Oga, you are talking in a nonsense.

You need to ask which country, state, or city the person lives first before jumping into conclusion.

The OP made concrete analysis and even quoted CNBC, so you sabi pass CNBC?

$50k isn't always the take home, you pay tax which atimes could be over $8k depending on the location, putting other expenses into considerations, saving $9k might be hellish

sharpman1:


You mean anyone earning $50k annually can not save $9k in a year? Oga, you are talking in a nonsense.

You need to ask which country, state, or city the person lives first before jumping into conclusion.

Well, i cant agree less with you that it depends on the country and state. $50k isn't always the take home, you pay tax which atimes could be over $8k depending on the location, putting other expenses into considerations, saving $9k might be hellish.

Instead of using a generic $50k salary, a better way for people to assess and compare is to compare income for same types of jobs in both the US or UK to Nigeria to compare like for like.

You use handwork in Nigeria so let's say a plumber, a plumber in the US will make way more than $50k a year and compared to the N10k a day is way better off financially. I hired a handyman recently to do some work for us and cost over $500 for his day rate and I had to book him over 2 months in advance to show how busy he is. Same with electricians etc.

If your point is to show that Nigeria is not that bad then that's fair and will depend on individual assessment rather than a blanket generic approach as you're trying to do. The fact remains majority of jobs underpay in Nigeria and do not keep up with the way costs are rising but yes there are some where they are better off to remain in Nigeria rather than travel abroad especially when they are established in their careers in Nigeria and doing well only to go and start all over abroad.

nigeriandream14:
I have done a thorough research and my findings are very interesting. I hope the Moderators considers me worthy to move this to the front page.

It is impossible for someone earning $50,000 annually abroad to save $25 daily (Over $9,000 annually). Majority, if not all of western countries consider people making $50,000 as middle class. $25 dollars is just 10,000 naira daily. I believe most Nigerians with handwork can make that much comfortably daily. I am not trying to discourage anyone from traveling abroad, I just want us to have a rethink and see that Nigeria is not that bad as we portray it to be. Drivers, laborers, petty businesses etc all make over 10,000 daily. Forget the daily complain of hardship we read online daily. It is a Nigerian trait. Tens of millions of our citizens do actually make above 10,000 daily. What we need to do is cultivate the saving habits of our brothers who live in diaspora. Nigerians only learn how to save when they travel abroad. If we work on ourselves, saving a million naira annually won't be a problem. Thanks

https://www.cnbc.com/video/2021/06/25/how-to-budget-your-money-if-you-make-50000-per-year.html

dake40:



Well, i cant agree less with you that it depends on the country and state. $50k isn't always the take home, you pay tax which atimes could be over $8k depending on the location, putting other expenses into considerations, saving $9k might be hellish.

Well, I know for a fact, that if you live in Texas, earn $50k (gross income not take home pay), live a life that is not extravagant (I don't mean suffer yourself), you will save much more more than 9k and live a better quality of life than most people living in Nigeria.