Good day guys. I am just so confused....

Three years back, I got a job where the pay is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

Note... By using the phrase "are my village people following me", I was only been sarcastic.

How can you be earning 100k and be paying rent of 250k .
I'm very sure you're trying to live up with the jonses.
Bros you are your own village people o. Na u dey follow yourself, stop blaming the innocent villagers Abeg

Rich4god:
Good day guys. I am just so confused....

Three years back, I got a job in a bank where the is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

by my calculations you spend about 500k a year on house rent obey your parents upkeep, if you include your upkeep for a year it will rise to about 700k a year, that means you are left with about 400k savings per year minus miscellaneous expenditure, so saving up to 400k in three years to me is a good job, if you want to improve cut down your expenses especially your house rent and that of your parents. there lies your problem

Village people following you? It is now easy with social media, follow them back!

On a more serious note, if you have a savings of 400k with your kind of salary, then you will go places.

Look for the right investment to put your money into and beware of fake girls on Nairaland who will start sending you PMs.

Luvlyna:


How can you be earning 100k and be paying rent of 250k .
I'm very sure you're trying to live up with the jonses.
Bros you are your own village people o. Na u dey follow yourself, stop blaming the innocent villagers Abeg

Hold up... First and foremost, by using the phrase "village people" in my post is more of sarcasm. Secondly, my salary isn't my only source of income. Am just worried that after 3years of hard work, the direct savings from my salary is just 400k. And from the other source of income, I have a target not to touch it till after some years.

Rich4god:
Good day guys. I am just so confused....

Three years back, I got a job in a bank where the is around 100k/month. The issue now is, three years down the line I have only been able to save 400k. So in essence, out of about 40 months of receiving salary, I have only been able to save only 4months. Though I start work in a state different from where I base, so I had to rent a house. My house rent is around 130k/yr and in addition, I pay that of my parent wch is around 150k/yr with a monthly stipend of 5k; excluding any other emergency.

Just this month, I decided to upgrade to a bigger apartment and I paid a rent of 250k. Now all that is left in my account is 400k.

Am I a poor manager of funds or is it that "my village people" are following me and pilfering my money.


I am just so confused. Working for three years and boosting of only 400k

Are you saying your salary has remained at 100k for the past 3 years? No increase?

If that's the case then you shouldn't increase your expenses. So the new rent is a bad decision.

Work on increasing your earnings. That's the root of the problem. Your taste is changing while your income remains constant.

Guy, yu tried, but yu shouldn't have changed to a 250k apartment except if it reduces your spendings on transportation and some other things because by now yu just increased ur rent from 280k/yr to 400k/yr, ur parents inclusive.

Vanpascore:
Guy, yu tried, but yu shouldn't have changed to a 250k apartment except if it reduces your spendings on transportation and some other things because by now yu just increased ur rent from 280k/yr to 400k/yr, ur parents inclusive.

Nah... It doesn't reduce any expense.

Sylver247:



Are you saying your salary has remained at 100k for the past 3 years? No increase?

If that's the case then you shouldn't increase your expenses. So the new rent is a bad decision.

Work on increasing your earnings. That's the root of the problem. Your taste is changing while your income remains constant.

Well, I started with less than 100k for the first 15 month, though there are some allowance I do get during the month that when u sum it with my salary, it could reach 100k, though at times, it doesn't come at all. Later on, the salary was reviewed to 100k with no allowance and am optimistic that by June next year, it could be reviewed to 125-130k

If village people get your time say na you them one follow, you no go even get data to come online come post... wetein I dey talk, you no go even get phone... Your problem is you... Who asked you to leave the apartment of 130k? Cut down on your way of spending.. Allow the slepping dog village people lie.

Open and dedicate a separate account without cards or mobile banking, specifically for savings. When you receive your monthly pay, estimate your expenses for the month and transfer the remaining IMMEDIATELY THE ALERT ENTERS.

This helped me save close to 900k in a year when I was earning a salary of just 100k

MODIFIED... Here's how that was possible. Where I worked, there was free bus to and from the junction where I lived, so no transportation.

There was free breakfast and lunch, and you could take extra and eat for dinner. So most of the week I spent close to nothing on feeding.

I had an extra hustle. I worked on phones and computers, software and hardware. I flashed, unlocked and formatted phones and computers. That fetched me good money.

My rent was cheap

Op Village people are presently deliberating on your matter . send them a strong feedback by upgrading to a 350k apartment.

Rich4god:
Are my been extravagant or is my village people following me

it should be: AM I BEING EXTRAVAGANT......

At post, thank God you have been able to save something at all. It may not be your fault jare. The situation of things in this country dey one kind. If I tell you my own, you go thank God for your life.

You did what you gotta do man

Ur parents are still in a rented house

lebron7:
Ur parents are still in a rented house

at least they're living in a house

For those people bashing the op because of house rent, he might be living in a city where cost of living is very high. Op, If u can find a bedroom and parlour with an annual rent of 150k, it's good. Don't try to upgrade ur apartment (expenses) cuz ur salary is still the same.

lennsmart:
Open and dedicate a separate account without cards or mobile banking, specifically for savings. When you receive your monthly pay, estimate your expenses for the month and transfer the remaining IMMEDIATELY THE ALERT ENTERS.

This helped me save close to 900k in a year when I was earning a salary of just 100k

So out of 1.2million you earn in a year you saved 900k meaning you survived on just 300k for the whole year....Bros abeg which kind lie be this biko.
You dey chop? You dey pay rent? Do you wear clothes? Na leg you dey use go office? Even just being alive costs money.

The best way to save money is to have mini projects or business you emback on, instead of stockpiling cash, money is a spirit

Bro village people no dey follow you.
It's just expenses.
Your house rent, parent's house rent, other miscellaneous like feeding, siblings etc.

Bro you are doing your best.
But your new house rent is not advisable.
The former rent is okay.

BTW can't your parent's pay their own house rent? Are you the first child in your family?
If yes then there's nothing wrong with you.

Maybe you should write your company for an increase in salary, give it a thought because 3 years working for a company deserves an increase in your pay-check.

Luvlyna:


How can you be earning 100k and be paying rent of 250k .
I'm very sure you're trying to live up with the jonses.
Bros you are your own village people o. Na u dey follow yourself, stop blaming the innocent villagers Abeg

dumb bunny!

This is a story of a scientist who started an experiment to prevent a personal experience from occurring to others, using sets of young teens as test subjects, unfortunately two subjects broke the chain of action, will they survive and save others?

Open it's not village people but House rent that is packing your money.

If you can get a less costly apartment, it will help you to save more.

Better still, i suggest you invest into other business to help increase your income.

is it that difficult to read?

OP said he just upgraded rent RECENTLY......

WTF

he has been paying 150 for the past 2yrs @ least....

and OP please don't let people push you into thinking like a dummy!

There are several reasons I will upgrade rent if I were in ur shoes.... with the first reason being proximity to my place of work!

I believe u have ur own reasons and I don't see how rent of 250k is too much for u!

Just that with u paying ur parents house rent then u might need to slack back a Lil on the rent but like I said!
if the apartment is very close to ur place of work then
it is still very OK!

the challenge is,....

how. much is you average monthly recurrent expense - feeding, transport and miscellaneous!

if u can cut that down to like 30-35k then u will save more.... this will entail u cook ur own food and take to the office.....

so how much is your average monthly expense?

iAudio:
it should be: AM I BEING EXTRAVAGANT......

At post, thank God you have been able to save something at all. It may not be your fault jare. The situation of things in this country dey one kind. If I tell you my own, you go thank God for your life.

Thanks for the correction... Wetin person dey think dey too much.

lennsmart:
Open and dedicate a separate account without cards or mobile banking, specifically for savings. When you receive your monthly pay, estimate your expenses for the month and transfer the remaining IMMEDIATELY THE ALERT ENTERS.

This helped me save close to 900k in a year when I was earning a salary of just 100k

smart guy!

just that I don't think the scenarios are the same...
op obviously has responsibilities and pays his own rent....
u on the other hand, were trekking to work and probably squatting!

falcon01:
at least they're living in a house

I didn't say it to scorn

Felixamos:
If village people get your time say na you them one follow, you no go even get data to come online come post... wetein I dey talk, you no go even get phone... Your problem is you... Who asked you to leave the apartment of 130k? Cut down on your way of spending.. Allow the slepping dog village people lie.

400k is not bad, you really need to cut down on your expenses and start thinking of the future. Did you upgrade to get married and start a family? Or just because you taste is changing? For taste to change, income has to change too. Try to save before you spend formula and you will be able to save more

obekediamondfuto:


smart guy!

just that I don't think the scenarios are the same...
op obviously has responsibilities and pays his own rent....
u on the other hand, were trekking to work and probably squatting!

That's cold man, could be true though.
In addition to that, he prolly spends like #100 on recharge cards for a month, eats like once daily or has a bag of garri and sugar at home, doesn't have a GF, tries to leech off others when he can, never sends money to anybody, is not a social person. I could go on and on. I'm not referring to anyone here, I know some people that do this, so i can relate.

Tell your parents to move back to the village since they cannot afford their house rent. That way you can even increase that 5k monthly stipend to 50k for them

obekediamondfuto:


smart guy!

just that I don't think the scenarios are the same...
op obviously has responsibilities and pays his own rent....
u on the other hand, were trekking to work and probably squatting!

You don reach here