On this day the 28th day of March 2019, the President and Commander in Chief signed the long-awaited new minimum wage bill into law. This automatically increases the national minimum wage from 18,000 Naira to 30,000 Naira.

Why it is good to celebrate, is it also important for you especially the direct beneficiaries of the new wage not to be carried away by the euphoria of the moment.

The new development calls for a new spending formula especially on the part of the salary earner.

In this article, I want to educate my readers on the implication of the new law, the opportunities within and necessary steps that are required of them.

How best to utilize the new minimum wage and its opportunities

#1. Decide to save the added income

As difficult as it might seem especially in the beginning, deciding to save the added amount of money I can assure you will turn out to be the most rewarding decision that you have ever taken in the nearest future.

Strive as much as possible no to increase your needs because of the increase in your purchasing power. Condition your mind to stick to the previous minimum wage of 18,000 and limit your spending to that.

#2. Learn to say NO

Yes, if you must reap the benefits that come with the increment of pay, then you must learn to say “no” at times. It will interest you to know that all your family and friends are fully aware of the pay increase.

This by implication means that they will also increase their individual demands and requests.

If you don’t learn to say no to some of their demands, then you will realise that you might even run into deficit while trying to solve their problems even without solving your own immediate needs.

#3 Invest in something meaningful

Investing the extra cash into something worthwhile is also not a bad idea. It could be on your education or that of your spouse or children.

You can choose to invest the extra cash on a building project or even channelled towards raising capital for a business of your dream.

For some, this might sound like a mirage but I can assure that little drops of water form a mighty ocean.

To summarize, you must be familiar with the saying that nothing good comes easy. The process of achieving your dream might require a painstaking and a persistent effort coupled with some radiance of good fortunes.

I leave you with this; nothing is impossible, it can only be difficult.

Source:https://gisthabit.com/how-best-to-utilize-the-new-minimum-wage/

don't get carried away by the minimum wage

PMB plans to increase taxes , so what impact will the new minimum wage have when taxes are increased. ..

Save the "added income"?
Hope you know that with the added income, prices of everything goes up and you might probably be spending more to get the same value you got previously with less

Isn't it #12,000 increment?

Let the wise listen




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rubbish. everything in the market will increase soon. I cry for my country.

And imaging, it doesn't affect private worksers

lol....

So you think the 18k was enough in the first place?

On top 30k

Lol

Civil servants have long devised other means to meet up with family,career and social responsibilities before now.

SMH. Bout to throwup

No news about the signing of minimum wage by NTA , did Buhari sign the bill at night?

the money will be nothing at the end of the day due to increase in tax and trust me, market woman are also aware of the increase, don't be surprise when they told u
oga #50 igu no dey again
the least now na #100

pls how much will a level 8 step 2 Federal civil servant that was earning 66k go home with, after adding the new increment??

good download/copy & paste for the boys men!

In the midst of abundance, the fool is still thirsty.

markidoo:
pls how much will a level 8 step 2 Federal civil servant that was earning 66k go home with, after adding the new increment??

what is your salary structure,

markidoo:
pls how much will a level 8 step 2 Federal civil servant that was earning 66k go home with, after adding the new increment??

Sorry, mind asking you a question? which agency do u work with?

Too many ignorant people in the country. An increase in wage will only cause more problems in the long run. Think about it, if everyone now earns more, it means they can buy more which causes an increase in inelastic demand thereby increasing price. And before you know it we're back where we started.

We should have pushed for more currency strength instead of simply asking for more of paper currency itself. Too many dumb people at the wheels of government.

Smell inflation����

I Smell inflation����

30k is nothing to be excited about.

Chitumu:
Sorry, mind asking you a question? which agency do u work with?

Answer the question or forget it if u don't know the answer.. What do u need the agency for? Is minimum wage paid according to agency?? Mtchwwwwww....

Ladiesdream:
what is your salary structure,

Oga dude simply want to know hw minimum wage is computed. He has given u 2 parameters enough to to clear him.. What else do u need?

Doktajay5:


Oga dude simply want to know hw minimum wage is computed. He has given u 2 parameters enough to to clear him.. What else do u need?

salary is paid using salary structure na. Conraiss conpiss contendiss etc

How does one in level 9 calculate this new minimum wage? Guys please reply

30k to build house?? even bathroom sef e no reach

Adamna:
How does one in level 9 calculate this new minimum wage? Guys please reply

It is still a crumb.