Ibechris2:



I told my admin that I would like to resign, he started begging me not to.


I was like hah,this man think I wasn't prepared for this day,I have invested well enough to sustain my nuclear and extended families.

I get scared to extend my stay in a conventional employment...it makes me sick on a daily basis...I wouldn't want to get to 13 before I resign from my job.

There is money out there...so much money and there isn't time to waste.

Annahh:
Must everybody do business?

Meerahbel:
My mentor taught me what I am telling you today and currently a silent billionaire. Has properties scattered all over Nigeria and heavily invested in NGX.

Hey! Talk is cheap.

Meerahbel:
NoThere are two types of government bonds.
1. FG savings bonds which you can start with as low as N5000
2. FG bonds who the minimum is about 5 million

Originalsly:
I'm with you on your advice about saving .... but as things are... I would suggest converting to a stable foreign currency..... do not save in Naira. Let's say 10 years ago .... a man was saving as you suggested .... and had 6 million in his bank account ... an amount at that time can see him through life. That would've been all gone today. If he had converted it to a stable currency then ... he would still have been living off it today. Each day Naira sits in our saving accounts the less value it has. You have N1.7 million in the bank today .... at N1700 to $1 today .... that's $1000. One year from now ... what do you think will be the exchange rate? ...how much will your N1.7m then worth in USD? How much will your USD worth in Naira? My point .... save.... but not in Naira

Shegzdave:
There’s something I realized in Life and that is: There are no rules to life, you can do everything and still be in debt.

Live like you’ll die tomorrow and dream like you live forever. In other words, Live life as it comes

Love800:
I really appreciate.

Dive a little into that government bonds pls. What is it all about? Am thinking the government bond is the same thing with treasury bill. Am i correct?

AfahaAbia:


There is no formula in all this you said up there. You can save millions today, a terrible emergency can take it all tomorrow. . I personally have over 100million naira(which will still increase as time goes on)in my pension account which I can not access till I'm in my 50s.. im saying is thàt invest more than save.

Kei144:
I used to get Quickcredit from GTB, which is paid back to GTB with interest; payment is spread out over a period of one year. I used a good chunk of the loan to buy food items in bulk. As the year went on, I discovered that the savings I made from price of the food items due to continuous inflation was more than the inerest payable for the loan. Unfortunately, my place of work began to pay salary so irregularly that I could no loger qualify for GTB Quichcredit.

Ibechris2:



I will contact u later...u are a brought star.

ChinemeremFidel:


On that aspect of girlfriends not everyone is that unfortunate to meet girls that would ruin them.
Forget this talks of no good girl,there are good girls out there...They would support you to the core...

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

AfahaAbia:


There is no formula in all this you said up there. You can save millions today, a terrible emergency can take it all tomorrow. For me with over 15 years experience working I would advise any young person today not to focus on savings alone but to invest as much as possible from your 20s and beyond. Try to also keep money in your pension account(another way of investing for retirement)even if you have contributions made by your employer already. I personally have over 100million naira(which will still increase as time goes on)in my pension account which I can not access till I'm in my 50s.. All im saying is thàt invest more than save.

Paramount01:



And you don't knwo when you buy things in bulk you consume it anyhow?

How can you managed last 1k for more than a week but can't managed 5k for 3 days

JobAndVacancies:
lereinter check the bold in this idiot's comment, he says Tinubu is barely a year in office.
Can you imagine.
Freestuff you will die before Tinubu is sworn in for second term and when he wins during his second tenure he'll die disgracefully on that seat.
Mark my words

Esthered:

It is and don't mislead people.

My MIL just warned me to restock in large quantities to cover as much as February.

Indomitable was 7500 last month and 8500 today.
Spaghetti was 19k last month and now 22k last week.
Dano 12g was 15k last month and now 16k
Lactogen was 6000 last month and I bought a carton 76k at 6300 last week.
Good mama liquid wash was 2k last month now 2500.
Milo was 27k in June but I bought it 32k last month. The list is endless.

If I had bought Lactogen in January when it was 4500, I wouldn't be crying today.

Bulk buying spreads the cost on quantity purchased and you get to bargain for a discount. It's cost saving to a reasonable extent.

Ibechris2:



U people think everything is fake.

See,I bought a land in Abuja last year and gave to my wife as a birthday present for 9.5million.
Now the truth is,the land is currently selling for 20million.

I bought a shop during the covid 19 pandemic for 1million. The shop is going for 13million just in 4years.

Another land I bought 3yrs ago at Fo1 here in Abuja,for 4.8million is now going for 16million.

There is nothing like motivational speaker. U use money to make money.

That is what is called capital gains.


What if I had bought ten of these properties last year.

MONEY247:
What of us that our salary can only make up for feeding.... and there's no extra to save..

Like I earn 30k a month...

Pentagon007:
I am currently doing all that you said. My net salary is around 300k. At the end of every month i try to save upto 200k. I must say its quite difficult but the trick is that i do the saving FIRST, then use whatever that remains for my expenses.
I intend to save a reasonable amount then i learn a trade and go into business.

Meerahbel:
A property I bought 400k about 4 years ago is going for N10million with abeg

Jokerman:


Apart from real estate sir, what else can a man invest in?

Stocks? Bonds? mutual funds?? Etc?

smasher1:


You can still save 5 to 10k monthly.

Omalicious1:


Thank you so much...I can also add...ALWAYS HAVE A MONTHLY BUDGET AND STICK TO IT. HAVE AN EMERGENCY ACCOUNT AND A RESERVE ACCOUNT.

smasher1:


Saving over 70% of salary is possible. I do that.

Meerahbel:
There's a young man in the interior part of Lagos who has built a crazy business and employs over 12 staff all remote in this same economy which I am one of them. Another is a woman not even in Lagos in the southern part of Nigeria and has over 14 staff and business is doing extremely well.

E get person wey dey Iyana Ipaja dey do business with Dubai people and the Dubai people are thinking of coming to do business in Nigeria, mind you this person has a 9-5 job

Let’s those that want to complain let them continue.

mctech:


Not a very smart move! Don't be deceived by the figure, the Naira is crashing daily.

It would have been better to save even 10% of that in dollars and best to invest in real estate or crypto.

Baldwretch:


What is your side income?

Ibechris2:



U see,yet some people are still doubting.

smasher1:


It is as long as the items don't expire.

Badmashiii:


You're wrong. Indeed there's no rules to life but we're talking about about future finance management here which contains more than plenty rules.

For one,don't go around lending funds to people,direct them to banks or lapo instead. Secondly,make sure you're saving some parts of your income etc.

olarent:
You are among the fortunate sir, this economy has erronded the purchasing power and is affecting income seriously. I started work age 28 seven years ago now 36 but thank God in my own house 2years ago and doing another for rent with annual income of 750k yearly once complete, a meagre of 800k in pension.