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Re: Family Finance by tallar: 7:07pm On Nov 16, 2017 |
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. 35 Likes 5 Shares |
Re: Family Finance by Agbaletu: 7:14pm On Nov 16, 2017 |
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! 5 Likes 1 Share |
Re: Family Finance by janefarms2015: 8:15pm On Nov 16, 2017 |
tallar: I wish OP takes to this advice, ive advised him but no response to my advice, infact 150k too much every month, habaaaaaa! Some men sha! I hope this story is true, im very angry, im sorry OP, your wife is controlling you too much, you seems a nice guy, break free!!! 5 Likes |
Re: Family Finance by dunasy(f): 9:02pm On Nov 16, 2017 |
77FOT: Just take the advise that you have got here to work and be FIRM about them. 2 Likes |
Re: Family Finance by serenegroup(m): 10:24pm On Nov 16, 2017 |
tallar: I love this advice. op take this advice too 5 Likes |
Re: Family Finance by Acidosis(m): 11:17pm On Nov 16, 2017 |
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. 4 Likes |
Re: Family Finance by helovesme(f): 12:19am On Nov 17, 2017 |
Acidosis: He does not have any investments in T Bills. Read his post again. The only “investment” he has is the land and he’s yet to pay off the cost of the land in full. 4 Likes |
Re: Family Finance by Acidosis(m): 12:36am On Nov 17, 2017 |
helovesme: Ops! thank you, now I get the true picture |
Re: Family Finance by 77FOT: 5:06pm On Nov 17, 2017 |
yeyerolling: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 |
Re: Family Finance by 77FOT: 5:11pm On Nov 17, 2017 |
tallar: Thanks a lot. Your points are very revealing.... I have never thought of taking advantage of strategic seasonal bulk buying. Waooo. |
Re: Family Finance by 77FOT: 5:14pm On Nov 17, 2017 |
Agbaletu: Ore, I tire ooOOO. Ki Olorun sanu mi o. I am challenged and encouraged by the responses. Thanks. 1 Like |
Re: Family Finance by 77FOT: 5:20pm On Nov 17, 2017 |
Acidosis: 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 |
Re: Family Finance by 77FOT: 5:31pm On Nov 17, 2017 |
janefarms2015: 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 |
Re: Family Finance by dunasy(f): 5:52pm On Nov 17, 2017 |
77FOT... glad you and Mrs are on same page........ wishing you fruitful planning. 6 Likes |
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 |
Re: Family Finance by babythug(f): 7:11pm On Nov 17, 2017 |
77FOT: Did she itemize what she spent all that cash on? Did it seem plausible to you? It's either she feels her hubby is a rich man or she couldn't be bothered about what the future may hold financially for you all! Your being mr nice guy and seemingly dashing anyone who comes to you without restraint too I suspect has encouraged her to collect all she can from you! Good luck once again 5 Likes |
Re: Family Finance by Promxy94(m): 3:32am On Nov 18, 2017 |
Op since ur wife is a housewife at the moment, things in pH are quite expensive, so I advice she starts buying her weekly food items and other things at the popular oil mill market @Rumuokwurusi.it holds everywednessday. I think maybe u giving her like 20k for food items for everywednessday isnt bad. That should be able to take care of soup and stew... For the week, if she is prudent in her spending she should atleast use only 15k and maybe keep like the remaining 5k for toiletries. Since u buy the rest things in bulk like bag of rice(at least 1 bag for 3months). Let's now do a calculation 20 ×4 = 80k in a week that's OK for u, and the remaining 20k should be kept for miscellaneous expenses in the house. Making it total of 100k. Now u can save 150k for urself I don't even buy the idea of sending her 150k into her account for a month, that way she will have unnecessary spendings which she might not be able to account for. 1 Like |
Re: Family Finance by Coldplay007(f): 5:58am On Nov 18, 2017 |
77FOT: WelldoneSir! your wife is collecting 250k plus her 30k N power salary per month and you are managing 150k and still paying children school fees.. I am 100% sure you are not a Yoruba man, and if you are Igbo you definitely did not grow up in the east.. Grow a pair sir, cos people commenting on this thread have been very nice to you. They have not told you the absolute truth. I will do you the honours. You have a big problem sir, and that problem is your wife. You have to be very wise to reduce that money you are giving her if you don't want to big problems in your marriage. the first thing is that you can't tell her the real reason why you are cutting down her allowance if you don't want serious gbege..You have to find a convincing lie.. either your salary was decreased to 200k or your office has sacked you or something as good as those.. Who has 280k to spend and buy all foodstuffs weekly, and also buy them inside port Harcourt township.. My brother, you are in serious trouble, and only great wisdom will take you out of this.. Do you have a freezer? if you don't that is the first thing you need to buy, you can use the balance of the 150k after cutting her allowance to 100k to buy the freezer.. you can say your office cooperative gave you a freezer at a subsidised rate.. You also have to be involved in these purchases, drive her on weekend to the hinterlands where foodstuff is cheap and tell her the reason you want to be involved is because of whatsoever lie that you told her about why your salary reduces. You also need to create an expense sheet om excel for her which You will monitor together since you both will be going to the market now.. just thing about it, your wife is spending 70k per week on food.. that will buy 5 bags of rice conveniently.. 6 Likes |
Re: Family Finance by UjuJoan2: 6:26am On Nov 18, 2017 |
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! 7 Likes |
Re: Family Finance by serenegroup(m): 10:57am On Nov 18, 2017 |
77FOT:you are welcome big brother. |
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 |
Re: Family Finance by 77FOT: 4:28pm On Nov 18, 2017 |
UjuJoan2: Please if you have the time share the full ingredients list with me and preparation steps. Note: baby is 7 months . |
Re: Family Finance by FireRain: 4:51pm On Nov 18, 2017 |
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. 4 Likes 1 Share |
Re: Family Finance by 77FOT: 4:56pm On Nov 18, 2017 |
FireRain: Thanks! |
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! |
Re: Family Finance by Acidosis(m): 5:20pm On Nov 18, 2017 |
77FOT: Chai |
Re: Family Finance by FireRain: 5:40pm On Nov 18, 2017 |
77FOT:Hmm,well for me d only request I will consider is d visually impaired fellow cuz others can still hustle things on their own,so people still do go extra for burial party these days. Amazing!! 6 Likes |
Re: Family Finance by FireRain: 5:40pm On Nov 18, 2017 |
Acidosis: Double chai!! 1 Like |
Re: Family Finance by bukatyne(f): 8:10pm On Nov 18, 2017 |
Great thread. 2 Likes |
Re: Family Finance by bukatyne(f): 8:11pm On Nov 18, 2017 |
tallar: ������☝ 2 Likes |
Re: Family Finance by generationz(f): 8:46pm On Nov 18, 2017 |
77FOT: Yes And also instead of buying things from the main market, if you know any local market where you can in bulk from try that place. Things like fish, pepper, yams, beans, garri etc and other things to usually cheaper among locals 1 Like |
Re: Family Finance by bbnaijja: 9:51pm On Nov 18, 2017 |
There are 2 ways to make money and have enough. First is to work so u can earn as you are doing. The second is to spend reasonably and carefully. Financial discipline is important. 4 Likes |
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