Stats: 3,183,721 members, 7,921,575 topics. Date: Thursday, 15 August 2024 at 08:55 AM |
Nairaland Forum / Nairaland / General / Career / Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong (33768 Views)
See Someone's Salary In Kogi State - Photos / A 100k Monthly Salary In Nigeria Is Better Than A 400k Monthly Salary In USA / Is 80k A Bad Salary? The Story Of Seyi Of UBA (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply) (Go Down)
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Chris525: 1:57pm On Sep 20, 2021 |
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? |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by kokoboy4life(m): 1:57pm On Sep 20, 2021 |
damosky12: 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. |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Rubbiish(m): 1:58pm On Sep 20, 2021 |
room089:Sir the bold is not a must! |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by josdiv(m): 2:00pm On Sep 20, 2021 |
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. 7 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by naylor(f): 2:00pm On Sep 20, 2021 |
Esseite: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. |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by seborrhic: 2:00pm On Sep 20, 2021 |
oteneaaron: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. 4 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by ShadowM(m): 2:00pm On Sep 20, 2021 |
Let's be honest. Your friend is living a very flamboyant life style. He needs to adapt to the current situation at hand 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by crestedaguiyi: 2:01pm On Sep 20, 2021 |
Newboss: 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 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by iyke649(m): 2:01pm On Sep 20, 2021 |
Romanoff:Can u recommend a good inverter that can power all your household appliances like freezer fridge, television lightings etc |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Bbbwings: 2:01pm On Sep 20, 2021 |
Corporate2020: ![]() |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Mcslize: 2:01pm On Sep 20, 2021 |
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. 2 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by naylor(f): 2:02pm On Sep 20, 2021 |
josdiv: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. 2 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by flexyrule(m): 2:02pm On Sep 20, 2021 |
crestedaguiyi: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! 8 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by karkinase(m): 2:05pm On Sep 20, 2021 |
flexyrule:Only people who earn that high know how it pinches..that's just the best advise extra source of income. 4 Likes 1 Share |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Bbbwings: 2:05pm On Sep 20, 2021 |
Newboss:Inside freezer. Where you see light. |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Solatium(m): 2:05pm On Sep 20, 2021 |
karkinase: ₦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 3 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Revolva(m): 2:06pm On Sep 20, 2021 |
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 |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Akinleye22: 2:07pm On Sep 20, 2021 |
https:///J8p6FGEdImy0708jUsUeV8,NPOWER BATCH C GROUP AND NEWS AND UPDATES |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by efficiencie(m): 2:08pm On Sep 20, 2021 |
Esseite: 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. 3 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Dozie32(m): 2:09pm On Sep 20, 2021 |
Esseite: You dey mad!! What do you want us that earns less than that do? |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by seanjy4konji: 2:09pm On Sep 20, 2021 |
Make God sha deh help oo...7k 500 weekly on drinks ![]() One grilled fish and 2 gold berg don nearly reach 10 k now ![]() I rest my case. 3 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by RodgersAkpafu: 2:10pm On Sep 20, 2021 |
JoeEeL: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 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by karkinase(m): 2:10pm On Sep 20, 2021 |
Solatium:Stop yapping crap.. . |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Romanoff(f): 2:10pm On Sep 20, 2021 |
iyke649: I don't use mine to power my freezer or fridge. Just other appliances in the house. |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by winterlover: 2:10pm On Sep 20, 2021 |
Ok 4 Likes |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Newboss(m): 2:11pm On Sep 20, 2021 |
Bbbwings: 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? |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Pimine: 2:12pm On Sep 20, 2021 |
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! |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Solatium(m): 2:13pm On Sep 20, 2021 |
karkinase: 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 |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Teejaney88(m): 2:15pm On Sep 20, 2021 |
We are managing 30k here and someone is asking weather 400k is ok.... Life! 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by damosky12(m): 2:16pm On Sep 20, 2021 |
kingemaker: 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... 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by frinmy(m): 2:20pm On Sep 20, 2021 |
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. 1 Like |
Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by dammie4j(m): 2:21pm On Sep 20, 2021 |
karkinase: 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. 1 Like |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (Reply)
How To Succeed As A Contract Staff In Nigerian Banks / Graduate Selling Food In Wheelbarrow In Ekpoma, Edo / America’s Top 13 Ceos And The Courses They Studied In School (photos)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 64 |