SenecaTheYonger:


Nice reverse psychology. Even though we chat all the time on IG

UyaiIncomparabl:

Wealth is really about savings, assets, equities, etc. not how much you earn.


So if I earn N500k this month and blow it all, I'm rich?

SenecaTheYonger:

On Telegram, you mean? As I asked earlier, you think I don't know you?

Cti28:

If I earn that amount in a month, I will have over 5 million in savings annually.
So OP, your are a rich man

500k/month is 6M annually. How do you intend to save over 5 million, sir?

I'm interested in your response.

Bishopino:

If you are no rich making 500k and above every month: making #1m never. Go ask some broked ex footballer's, like .. ifeanyi udeze, Ebou and others.
Upon all their weekly cash in, their reckless life took almost all.

Can you please tell me which luxury you can afford for N500k in Nigeria of today?

Can you afford to rent a flat in a medium income neighbourhood - surulere, Yaba, Anthony, Maryland, ajah?
Can you afford to have electricity 24/7?
Can you afford to drink clean water (bottled water)?
Can you afford to buy and maintain a mid range car?
Can you afford to buy new and original cloths, gadgets, shoes, appliances, etc?
Can you afford basic convieniences - WiFi Internet, DSTV, airtime, laundry, etc.?

I am not even talking about luxury items. I am just talking about basic needs of food, shelter, transport, clothes and conveniences?

Acidosis:

[s]Wealth is really about savings, assets, equities, etc. not how much you earn.
[/s]

So if I earn N500k this month and blow it all, I'm rich?

Wealth is not strictly about about savings, assets, equities, etc., it is about how much you earn in relation to how much you spend.

If you earn N500k and your running and living cost is N400k, you cannot be said to be rich. If you living cost is over N500k, you are poor.

wirinet:


Wealth is not strictly about about savings, assets, equities, etc., it is about how much you earn in relation to how much you spend.

Why did you cancel the post o? You cancelled a post only to say the same thing.


Earnings - spending = ??

Acidosis:


Why did you cancel the post o? You cancelled a post only to say the same thing.


Earnings - spending = ??

Because you talked about earnings without relating it to spending. And you tried to dissociate spending from earnings.

Spending is a function of cost of living, taxes, inflation and personal lifestyle.

wirinet:


Because you talked about earnings without relating it to spending. Spending is a function of cost of living, taxes, inflation and personal lifestyle.

Earnings - spending = ?

Acidosis:


Earnings - spending = ?

Please read your statement once again

Wealth is really about savings, assets, equities, etc. not how much you earn

wirinet:


Please read your statement once again

I think the post is very clear enough for anyone to understand. How can you save and invest in equities or assets in the first place if you don't earn "enough" & spend below your earnings?

UyaiIncomparabl:


On Telegram, you mean? As I said earlier, you think I don't know you?

Yeah, I meant TG not IG lol. And no, you don’t know me

SenecaTheYonger:


Yeah, I meant TG not IG lol. And no, you don’t know me

Oh, please, I know you. Just forget it and move on like this never happened.

JoyousFurnitire:


Don't you think you are the dumb one?

Smart people look dumb to cretins like you.

Gamesmart:


Smart people look dumb to cretins like you.

Acidosis:


500k/month is 6M annually. How do you intend to save over 5 million, sir?

I'm interested in your response.

Financial discipline is the key ( I will be back to shed more light on this)

Neoteny7:


I felt the same way when I was about to start earning 100k monthly. Then I quickly found out the reality.

I earn about 3 times (or more) what the OP does monthly, but it somehow has normalized into something unremarkable.

Your tastes and responsibilities grow proportionally to your earnings.

Hi. I am an a graduate of electrical engineering and will be glad if their is any opportunity for a job in ur company

wirinet:


You calculation is off. If you eat 2500 per meal 2 times a day for 30days.That will total 150,000 per month and not 75,000. And we have not added medemede and ijekuje (snacks) yet. By the time we total everything, you will spend nothing less that N200,000 on food and drinks alone.

Even if you eat the barest minimum that can still be considered as food, and spend 500 per meal twice a day at "mama put", you will still spend a minimum of 30,000 per month on food alone. And someone here says a family of 4 can feed on N50 000 a month. It betrays the quality of what he considers as food.

Yeah I was wrong . Thanks . A family of four can feed on 50k , but that’s not considered food to me. They can never eat balance diet.. and they can never have savings easily , that’s perfect definition of hard life. I don’t pray for that ..

Most of dem don’t know that no matter how you want to live below your income reach , when you start making real money , there’ are things that NEED to improve about you.

Cti28:

Financial discipline is the key ( I will be back to shed more light on this)

except you plan to be living miser life, suffering yourself and denying your self good things of life all in the name of savings, that’s not life to me.

When you’ earn well, you should eat good food, live in a secured neighborhood with your family ( you easily become target if you don’t), send your kids to good schools, help people around you, create positive impact on your community.

No be just to Dey save and denying your self good things of life

Goalnaldo:
please ill like to get your number again.

Cti28:

Financial discipline is the key ( I will be back to shed more light on this)

Okay

UyaiIncomparabl:


Start earning it and you will know.

As your income increases, your taste increases. Those that know, know.

You are wise.

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

Calm down. clearly you have not touched a reasonable amount of Money.
A 600k income can give you a "comfortable" life at best , and in a limited number of locations.
500k does not even scratch the surface for "rich" .
You can barely afford average.

Johnchrix:


9 Years ago my uncle's friend was a senior manager controlling 10 States of Zeneith Bank Branches, pay was 400k + he was member of their secret society, guess what' he was killed because he refused to give his wife..Op is even lucky to have a job that pays so we'll without joining any frat he's complaining..

offer her as sacrifice?

twosquare:
offer her as sacrifice?

Yes..

Cti28:

If I earn that amount in a month, I will have over 5 million in savings annually.
So OP, your are a rich man

lmao...oga no be so e easy oh. Easier said

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Johnchrix:


Yes..

UyaiIncomparabl:


LOL.

I lost my trolling fire! It's a pity. People dey grow pass some things. So, I'll let this one slide.

So, because I said 500k is an average income, you called me a runs girl?

At least, it's better to date a high earner than be with a bitter and frustrated urchin like you who won't let baby girls like me see front.

Abeg, free me o.

I'm sorry about my post.

Cti28:

Financial discipline is the key ( I will be back to shed more light on this)

Some of you just come to social media and use words you have no idea of.

How can someone save 5M out of a possible 6M in a year? Won’t he pay for rent out of the 6M? Won’t he eat? Transport?

Accommodation, feeding, rent, data, controlled or scheduled giving to family and friends, miscellaneous, already amounts to 1M in a year.

I think most of you project what you can possibly save in a month out of a possible 500K monthly salary because you all don’t earn that much.

I pray God elevates you and make you to start earning that amount, then you will know wassup.

As you save, you also need to LIVE. Tomorrow is not guaranteed.

I will be looking forward to you your post on financial discipline techniques on how to save 5M out of an annual salary of 6M in present day Nigeria. Thank you.

I don’t live in Nigeria but I am keen on learning.

I must seriously commend that lady uyailncomparabl on how she was matured all through in responding to men who can’t seem to let a lady have an opinion on issues.

It’s so sad and sickening to see that most Men on this forum cannot even discount ladies opinion on issues without resorting to insults and name calling.

I will NEVER call someone that earns 500k Naira rich.

A single guy earning 500K monthly is doing well for himself but not close to being rich even if he does not have responsibilities.

However, with time, if he is focused enough, he will be able to save and get the needed funds required to make him invest and this will eventually place him on the journey of being rich.

All the best.