Can I chat with you.here is my phone no 08068606544

ladyF:

hehehe please don't o biko.....LadyF no fine

Mbkite:
I am working seriously on increasing my savings "I don too blow money"
pls nairalander, what percentage of salary is advisable to allot to accommodation?

Thank you!

I've noticed u always insist on percentage, it isn't always about percentage bro. It's dependent on a whole lot of factors. The truth is that it is very easy to waant to live lavishly when you get a well paying job but it's up to u to always keep yourself in check. I live in Lagos somewhere close to the island, and I spend something slightly above my monthly pay on rent. Remember, many other factors come into play in these things so there are really no hard rules cast in stone for things like this. Nice thread btw...

lastmessenger:
....

okay

mevisbleek:



What is rim? Polithiefian?
I work for Opus Stewart Weir. I can try to hook you up, do you have a cumulative cgpa of 4.7/5 or higher? If yes, send me your resume. What your major?

I have a CGPA similar to that: 3.61/4 and studied Mechanical Engineering, so how do i contact you?

Wiseoldman:


That's quite high....then again people tell me I'm thrifty.

My rent is less than 300k, approx 2% of my annual, no car, no wife ... Public transport and Vaseline are both fine for now. Man don suffer....lol

How can you earn 15m and not have a car. The house, well if that's all you need ATM, I don't see the point in living in a huge house just because you can afford it. More bills, more cleaning, bigger gen etc.

What I don't get is why you choose to use public transport over getting a car?

Wonders.

edrys:


Do you work in lag?

yes....firstly, I worked with dana group head office at martina, lagos. my other jobs were toyin street, ikeja and I leave at akeja, ota, Ogun state.

akeensbussy:


yes....firstly, I worked with dana group head office at martina, lagos. my other jobs were toyin street, ikeja and I leave at akeja, ota, Ogun state.

I see. How were you coping with transport? Or you do scot and go back home during weekend? Sorry for my questions.

Insightful thread..

edrys:

I see. How were you coping with transport? Or you do scot and go back home during weekend? Sorry for my questions.

when I was working at dana group, I will join staff bus at iyana ipaja by 6am. work close by 5:00pm but as an IT administrator, I close by 6:30 running 1:30 over time with is 750 naira paid the second day. I used that to transport myself home with I will spend like 400 naira then. Though, I will enter house sometimes 11:30 or to 12am, I will wake up 5am again second day

my only advice

your flow of income is not constant. check out the places you spend much of your money and try to establish the same business,
any ammount you spend into your own business (no matter how small) will always come back to you with interest.

Don't you people in Nigeria noticed that we in diaspora could not be able to contribute significantly to this topic because we are almost spending everything on rent, imagine paying almost 1.300euros on 3 bed room flat from a take home of 2500euros. Rent is the number one killer here.

Worst case scenario, 10% of your annual salary.

akeensbussy:
to be sincere with you guys, u are wasting money on accommodation. when I started working in my salary was 40k/month and my rent per year was 36k/yr. yrs later I got another job of 60k/month my rent still 36k. then moved to 70k yet my rent still remain the same 36k/yr. earning uptown 100k am still there. I stay in a room/palour with toilet and bath only kitchen shared with water. I got married there, had two kids there and am still there but by year end, I will move to my house(3bed). I have upto 7plots of Land 1 had been developed 1 on foundation level. note my wife is not working...my personal decision not until now she took up teaching job. I maintained a family of 4 for years.....without borrow, all with what I earned. since I got married we had been buying pure water 11 bags every week at the rate of 600 naira for 5 years... couple with other expenses..do the math.

As a man, never give lanlalord two month salary....is not good.

Where are u based??

akeensbussy:
to be sincere with you guys, u are wasting money on accommodation. when I started working in my salary was 40k/month and my rent per year was 36k/yr. yrs later I got another job of 60k/month my rent still 36k. then moved to 70k yet my rent still remain the same 36k/yr. earning uptown 100k am still there. I stay in a room/palour with toilet and bath only kitchen shared with water. I got married there, had two kids there and am still there but by year end, I will move to my house(3bed). I have upto 7plots of Land 1 had been developed 1 on foundation level. note my wife is not working...my personal decision not until now she took up teaching job. I maintained a family of 4 for years.....without borrow, all with what I earned. since I got married we had been buying pure water 11 bags every week at the rate of 600 naira for 5 years... couple with other expenses..do the math.

As a man, never give lanlalord two month salary....is not good.

You 've got your own taste but between how much do those lands cost? 50k a plot? Lies all over this one expect you 're working in a village.

Bros... it's simple logic, if your 3 month salary can not pay your house rent, then you are leaving at a lose, do the maths yourself, you could go less but it shouldn't exceed that...

247notire:
I've noticed u always insist on percentage, it isn't always about percentage bro. It's dependent on a whole lot of factors. The truth is that it is very easy to waant to live lavishly when you get a well paying job but it's up to u to always keep yourself in check. I live in Lagos somewhere close to the island, and I spend something slightly above my monthly pay on rent. Remember, many other factors come into play in these things so there are really no hard rules cast in stone for things like this. Nice thread btw...

Lol.
Thanx bro. Nice analysis

Tunero5:
Worst case scenario, 10% of your annual salary.

that's too microscopic bro. 10% is too small

I think your one month salary should be able to pay your one year accommodation.
If not your living above your means.

BADNEAT:
See all of una mouths...you de abuja where self contain sef na least 250k..one room flat 450k...you're a federal government worker with 50k salary...wetin u wan save?? Do d maths

Government is just encouraging civil servants to practice corruption

mevisbleek:



What is rim? Polithiefian?
I work for Opus Stewart Weir. I can try to hook you up, do you have a cumulative cgpa of 4.7/5 or higher? If yes, send me your resume. What your major?

Please bro. u can hook me up. I have cgpa of 4.00 Mech.Eng

Mbkite:
I just feel d 10% is small, especially if u're staying in Lag, Abj or PH.

I stay in Lagos, and by God's grace my rent is 9.7% of my annual take home.

79%

18% of my annual net salary goes into rent...

My rent is about N500k per annum. You can do the math.

ladyF:
1 month salary or at most 10% of your annual income.

You can't earn 100k a month and be paying rent of 250-300k, you have effectively worked one-quarter of the year for your landlord. Cut your cloth according to your size and stop living above your means....What about school fees, capital projects, savings, feeding. Wisdom is profitable to direct.

It's [size=15pt]LadyF[/size] again

Maybe in a developed country like U.S and others... but in naija my country it's quite difficult and unrealistic.
Except u want make I stay for one room with my wife and three children.

If you stay in lagos, i dont think this will work at all

ladyF:
1 month salary or at most 10% of your annual income.

You can't earn 100k a month and be paying rent of 250-300k, you have effectively worked one-quarter of the year for your landlord. Cut your cloth according to your size and stop living above your means....What about school fees, capital projects, savings, feeding. Wisdom is profitable to direct.

It's [size=15pt]LadyF[/size] again

ladyF:
1 month salary or at most 10% of your annual income.

You can't earn 100k a month and be paying rent of 250-300k, you have effectively worked one-quarter of the year for your landlord. Cut your cloth according to your size and stop living above your means....What about school fees, capital projects, savings, feeding. Wisdom is profitable to direct.

It's [size=15pt]LadyF[/size] again

It also depends on your environ. if you earn 100k/m in Abuja you must be living in the typical village to get a rent of 100k/y.

akeensbussy:

when I was working at dana group, I will join staff bus at iyana ipaja by 6am. work close by 5:00pm but as an IT administrator, I close by 6:30 running 1:30 over time with is 750 naira paid the second day. I used that to transport myself home with I will spend like 400 naira then. Though, I will enter house sometimes 11:30 or to 12am, I will wake up 5am again second day

Wtf! Get home by 12am & wake up by 5am!! What a life people live in Lagos!!! I am always grateful that I never settled in there. I hav a sister that lives at Iyana Ipaja & I used to tell her that they live a hobessian life in Lagos. Traffic starts moving at a snail pace as early as 5am all d way from Sango & toll gate towards city centre. Sitting in those rickety danfo buses with non-chalant drivers trying to outwit one another in traffic, d heat, wasted man hours, smelly conductors shouting on top of their voices & d struggle to enter at the bus stops makes Lagos a crazy place to live.

Am yet to see your Hi on WhatsApp.

ladyF:

okay

In Lagos, the most important issue is traffic/distance to work. I pay more to stay close to my office cos I'm able to accomplish more before & after work (including proper rest) than spend so much time & stress on the road to get to a cheaper apartment. For me quality of life is important, the money I save on transport, fuel & healthcare allows me to do other important things. So these are the considerations before you calculate percentages.

henryhemon:


You 've got your own taste but between how much do those lands cost? 50k a plot? Lies all over this one expect you 're working in a village.

No lies.....i leave at akeja, ota, Ogun State. the first land i bought was 110k/plot and i bough 2 plots......

akeensbussy:


when I was working at dana group, I will join staff bus at iyana ipaja by 6am. work close by 5:00pm but as an IT administrator, I close by 6:30 running 1:30 over time with is 750 naira paid the second day. I used that to transport myself home with I will spend like 400 naira then. Though, I will enter house sometimes 11:30 or to 12am, I will wake up 5am again second day

Bros permit to me say that even though you have been conservative enough in your own way but don't u think u might be spending more on medical bills that if care is not taking can wipe off all that u ever worked for if you continue living your life this way.I mean why would anyone punish themselves like this all in the name of becoming a Landlord..You should also know that its not everybody that can live in a room and parlour apartments just to prove that they are prudent enough..I feel one's work place should not be so far away from their homes..These are the reasons why most people age on time, i mean why work so hard to get everything and i end up not having the good health to enjoy it.

BottomLine:You can still live right and still save up some money to buy a land and build it to your taste..it just might tarry a bit..Life is too short jare.