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Nairaland Forum / Nairaland / General / Family / Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? (4575 Views)
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Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 7:06pm On Aug 28, 2016 |
A little lengthy, but worth the read: Honestly I was flabbergasted to say the least that there are people who think 200k is not enough for a family for a month. It is laughable too that women are the ones saying it is not enough. Let us take three families for lllustration sake applying standard living. https://m.facebook.com/story.php?story_fbid=10153880680092914&id=521527913 8 Likes 1 Share |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 2:52pm On Aug 29, 2016 |
Bump |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by Nobody: 8:02pm On Aug 29, 2016 |
nice one op... Even 100k sef is enuf |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 8:29am On Aug 30, 2016 |
Atomizer:Thanks for the nod. I believe people should just learn how to live comfortably within their earnings.I honestly don't know what it is with Nigerians and the need to look wealthy to neighbours and people around. You see some families owning three very good cars but they're living on rent in an above-average area and I begin to wonder who does dat. 2 Likes |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by KanoAbiaBabe(f): 8:45am On Aug 30, 2016 |
The amount depend largely on the location and planning, when I tell my friends I have not brought rice,beans and wheat since the increase of commodity they are all amazed. The last time I bought them was January. What I do personally is to buy foodstuffs(non perishable items) during the period when things are cheaps. With this method I save reasonable amount from salary. Just wish women will adopt this method. 1 Like |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by Nobody: 12:23pm On Aug 31, 2016 |
OP ur analysis na die o. 200k a month: you give madam 100k then you hold 100? then from your own 100k u will save everything abi? smh. now in a month, there are lots of bills to pay. u pay electricity bills, water bill, refuse bill, pay for transport fare, buy fuel for your car, service your car maybe. buy some gift for your kids or wife once in a while within the month. pay for medical bills, send money to friends and family maybe, buy a new thing in the house, repair any bad thing in the house, pay for security, pay for this and pay for that, and at the end of the month u will have nothing left, and u are here saying he will save 1.2million naira in a year. let me take a guess...its either you are still living with your parents and don't know how running a home is like or u are jobless and wishing saving was that easy. 11 Likes |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 2:04pm On Aug 31, 2016 |
tiniyata:Thanks for your insight which doesn't deliver in the way you expected it to.refuse bill & electricity bill gets paid once a month and together they don't account for very much unless you're living in a house that has no electricity meter. I don't even know what you mean by water bill who pays water bill in Nigeria when everyone digs their own boreholes.. Every other thing you listed are not monthly expenditures,and saving 100k doesn't mean the balance ends up as 100k at the end of the month.it simply means that one has 100k saved to cover any expenses that might come up. but u already knew this right sir? |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by Nancy2016: 4:06pm On Aug 31, 2016 |
@Op: I would say your analysis is very flawed for the following reasons 1. It does not take into account taxes and other income deductions. How can someone be earning 200k and be taking home 200k? 2. It does not take into account regular expenses such as clothing, transportation, toiletries, medical bills, holidays, cable/movies 3. For ten years the first couple will be merely existing and that's not a good life to lead. No entertainment, no extracurricular activities for the kids, no holidays to go and see family members. I am sure you cannot expect a family to live comfortably when they have to forgo the simple pleasures in life. They need a social life too. 2 Likes |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 10:01pm On Aug 31, 2016 |
Nancy2016:Simple pleasures in life in this economy.funny you. Okay then, let's all agree the analysis is flawed and the writer of the piece has no idea what she's doing.so how about you now enlighten me and everyone else exactly how much money will be enough for that family in the first example in a month. Cc: tiniyata I CCed you regarding the question above. Maybe you can use your experience to tell us how you would break down the 200k a month, or maybe you're of the opinion that there can be no savings @years end with 200k a month and if so please estimate your comfortable figure. All I'm seeing from you both is the typical Nigerian way of being experts at detecting problems without having any solution,and I'm eager to see what u come up with. Thanks. |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by Nobody: 10:56am On Sep 01, 2016 |
missjo:OP, are u single and living with your parents or living alone, or are u married? If you are single and living with parents, do u work or not? If u work, then how much do u save in a month? If you don't, how much pocket money do u save in a month from what your parents give to you? If u stay alone, my guess is that you are working, and if u are, how much do u save in a month? If you are married, and not working, ho much do u save from the money your husband giv you fo foodstuffs? If you are working, how much do u save the month. And plea include th number of people that makes up your household. If you can give me answer to the above question truthfully, then I know where to start from. But I can guarantee you that the best you can save from 200k salary for a family of five including u and your spouse in a month can not be calculated. |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 11:23am On Sep 01, 2016 |
tiniyata:Just as I thought,expert problem detectors most often have no solutions to give.no offence sir. There's really no point giving you any info since you're guaranteed it can't be calculated,i expected u to use that family given in the first example not me. 1 Like |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by Allwility: 9:22pm On Sep 01, 2016 |
For a family of four living in downtown Lagos, I believe 70k- 90k will comfortably foot feeding and utility expenses. Don't forget most of the soups you cook at home don't get exhausted that same day. I remember back then as a corp member, while complaining about my meagre N19800 allawi, a wise woman told me not to complain any further...that there were families that didnt earn that much yet found a way to survive. It all boils down to your financial management and home keeping skills 1 Like |
Re: Exactly How Much Money Is Suitable To Cater For A Family (monthly Basis)? by missjo(f): 10:14pm On Sep 06, 2016 |
Allwility:Even families earning less than 30grand a month survive on it and aren't dead yet,tiz all about management. 1 Like |
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