I had to do this thread because I have been seeing some comments from Nigerians stating that 300,000 is nothing in present Nigeria. So I want to show how I save mine.
Disclaimer: If you live in Lagos, this is not for you. For other normal Nigerians, please proceed.

What do I do?
I am a freelance writer. When I started in 2019, my average monthly earning was #50,000 which was about $100. But now I am assured of #300,000 ($700) per month. The goal is to hit $1,000 by the end of the year.

What is the breakdown of my expenses?
1. Rent – 22,000
I read an interesting nairaland thread that made a case for saving your rent every month and I have adopted that practice. I moved from a self-con of 120,000 because it was becoming a den for yahoo gang, to a serene place that costs me 220,000.

2. Food – 20,000 (bimonthly)
About every two months, I go to the market and buy foodstuff in bulk because it is much cheaper. Since I really don’t like cooking, I earmark a day to prepare bulk meals and store them in the fridge. Lasts for about two months.

3. Miscellaneous – 30,000
This covers bills and extra expenses I might not plan for. There is always money left over at the end of the month.

4. Parents- 30,000
I give my parents something to supplement their income every month. They don't ask for it but hey...

5. Tithe – 30,000
This was not easy for me. But to love God no be for mouth, you gotta show working. After dodging it for a while, and almost not doing it, I went through with my vow. Funny thing is I did not even feel it as I thought I would. The last tithe I paid was #1,000 back in school. So to go from that to this current amount is quite heady stuff.

6. Siblings- 20,000
This is to supplement what my dad gives to my siblings as they are still in school. Once I give them, they automatically know they are not supposed to call me to ask for shi shi.

7. Education – 10,000
In this business, you have to keep enriching your knowledge or else… So this money is for courses in my specific field.

8. Fun money – 20,000
All work and no play makes Jill a dull gurl.

9. Data -5,000

10. Invest – remainder
I used to convert the money and throw into mutual funds and shares thanks to tips in the investment section. But recently, I have decided to just leave it in dollars.

How do I segment the money?
I have four bank accounts.
P.S. I opened them for free while I was in school so don’t judge me.

• The Keystone account is the disbursement center . It is where I receive the money after converting the dollars to naira. When I am done transferring the money, the only thing remaining is about 2,000 – my own urgent 2k.
• The Stanbic holds money meant for my parents and siblings.
• The First bank account is where I store the miscellaneous funds. It has an atm.
• The Fidelity account holds the fun budget. It also has an atm.
For my rent, education, and big purchase savings, it will not be possible without Piggyvest app. These guys have been a yuuuge blessing.

How did I start?
Nairaland business section gave me a helping hand. When I started out as a writer, I would go scouting for jobs there. The #2,000 per article I was earning really helped me as a student then. I was swindled sha but it’s all part of it.

When I was done with school, I knew I was not going to do NYSC because I didn’t care to work in an office. So it was on this same nairaland I did my research for the cheapest state to relocate to in Nigeria. I settled for Osogbo because of constant light. I must admit that the stories about skull miners in politics section scared me about the place, at first. But since coming here I have never regretted my decision. Middle finger to all tribalists. Light is constant, I don’t even have a generator. And the rare times there are issues, I can go to a nearby cyber café and work.

How did I relocate to Osogbo?
I was an avid saver in school, coupled with the small jobs on nairaland, I was able to move to Osogbo in 2019 with #220,000. I knew absolutely nobody here. So I scouted for houses on Jiji and got the number of an agent that was incredibly helpful. I bought a one-way ticket for about #30,000 and rented a house with #150,000. Got a small mattress and utensils with the remainder.
Side note: I came to Osogbo with two bags but if I want to leave here now, I will need trailer… Thank you Osogbo

What I use to work?
My second-hand laptop I bought for #50,000 in 2017. My phone. An MTN mifi that costs me 12,000. And of course, data. Light is no issue, at all.

How I live?
My life is relatively simple. I am always indoors except when I get bored and then, I dress up like the slay queen I yam and take myself out . I don’t go clubbing, probably because I have no friends here. By the way, I am not lonely at all. This is the first time in my life I have ever been on my own and the experience is exhilarating.

I don’t follow the news because of the constant negativity. I know most people are in a state of despair so if I don’t filter what I take in, I can become depressed at the general state of things. So I block everything out and create my own cocoon where negativity does not penetrate. I also have several nairalanders that I follow which stops me from checking frontpage. Once I am done reading their posts, I log off and do something else.
I don’t have a TV cos Youtube and books are there.

I am also frugal. For instance, I just changed the Nokia 2 that I had been using since 2018 to an iPhone X, because of the low memory and charging point. That phone is expected to last for a while. Would have gotten a Samsung but I wanted to try another operating system.
I also save up for big purchases. The iPhone X I got was #150,000 and I had to save #10,000 every month for 15 months to get it. Piggyvest helped me with that.

I do have weaknesses though.
I love online shopping but that is covered by the fun expenses in the budget. Once the budget is exhausted, na till next month be that.

In a nutshell
This is how I live with #300,000 in current-day Nigeria, and for now, it will do.
Grazie

Terone:
Owu go soon kiss you, spend all, no save. You own the company and can never be sacked

PermSec01:
I just PM you...kindly reach out... I'd wish you can tutor me on this freelancing thing.plz

chatinent:


I once conducted a training. I charged ₦10k for the full training.

Some of my students are cashing out now. In fact, I have a training on getting an approved Upwork account..and landing your first gig.

Think big.

PermSec01:
is it a physical class or online

chatinent:


It is an online training. It's done on Telegram.

BabyGhoul:
I am not spending all. I cannot be saving at my age. Investment na the koko. Thanks for reading

Kingslaw:
how can reach you?

PuZZyNegro:


I am happy for you. Can I ask the tribe you're from?

Your story sounds similar like mine, but unlike you, I moved to Lagos.

You're a girl so don't care much about heavy investments like owning a car or building a house thus the reason you can split your earnings to have over 70k in giveaway (parents, siblings, tithe).

A man will definitely spend differently.

As for @chatinent trying to sell upwork training tutorial here, tell them the truth that they need to know.

Getting approved upwork account is not a guarantee for anything. Freelance space is already saturated and takes a lot to break through now than it was some years back.

I started freelancing in 2016 and I work mainly on Fiverr. Only managed to get one job on upwork and even after getting a five stars rating from the client, nothing else yet since that time.

PermSec01:
I just PM you...kindly reach out... I'd wish you can tutor me on this freelancing thing.plz

BabyGhoul:

Apologies for the late reply. I have a deadline I need to meet so time is precious.

Tutoring you won't be that easy because I don't know the niche you want to specialize in. Besides, I don't feel I am qualified to teach as I haven't achieved my desired goal, yet.

But here are a couple of threads that started me on my journey:
https://www.nairaland.com/2594236/elance.com-upwork.com-other-freelancing-site
https://www.nairaland.com/2947212/exclusive-how-make-level-2
https://www.nairaland.com/3237273/how-make-regular-income-offering
https://www.nairaland.com/5898215/how-build-enviable-income-email

If you are interested in earning passive income by selling books on amazon:
https://www.nairaland.com/1499182/making-regular-income-publishing-amazon
https://www.nairaland.com/5764986/kdp-kindle-amazon-books-corona

If writing is not your forte and you want to sell domain names:
https://www.nairaland.com/3430037/what-make-money-online
https://www.nairaland.com/5822942/earning-dollars-squadhelp-brandable-domains

There are many more in the business section.

Note that all of the above threads are quite long, but the wealth of knowledge in them are priceless and available for free.

If you still don't want to go through the above routes, you could pay someone to tutor you.

Thanks

BabyGhoul:
I am not spending all. I cannot be saving at my age. Investment na the koko. Thanks for reading

PuZZyNegro:


I am happy for you. Can I ask the tribe you're from?

Your story sounds similar like mine, but unlike you, I moved to Lagos.

You're a girl so don't care much about heavy investments like owning a car or building a house thus the reason you can split your earnings to have over 70k in giveaway (parents, siblings, tithe).

A man will definitely spend differently.

As for @chatinent trying to sell upwork training tutorial here, tell them the truth that they need to know.

Getting approved upwork account is not a guarantee for anything. Freelance space is already saturated and takes a lot to break through now than it was some years back.

I started freelancing in 2016 and I work mainly on Fiverr. Only managed to get one job on upwork and even after getting a five stars rating from the client, nothing else yet since that time.

bukatyne:


Lovely lovely lovely

Seun ought to collect tithe from you, NL has really been helpful

Enjoy yourself.

PuZZyNegro:


I am happy for you. Can I ask the tribe you're from?

Your story sounds similar like mine, but unlike you, I moved to Lagos.

You're a girl so don't care much about heavy investments like owning a car or building a house thus the reason you can split your earnings to have over 70k in giveaway (parents, siblings, tithe).

A man will definitely spend differently.

As for @chatinent trying to sell upwork training tutorial here, tell them the truth that they need to know.

Getting approved upwork account is not a guarantee for anything. Freelance space is already saturated and takes a lot to break through now than it was some years back.

I started freelancing in 2016 and I work mainly on Fiverr. Only managed to get one job on upwork and even after getting a five stars rating from the client, nothing else yet since that time.

BabyGhoul:

Apologies for the late reply. I have a deadline I need to meet so time is precious.

Tutoring you won't be that easy because I don't know the niche you want to specialize in. Besides, I don't feel I am qualified to teach as I haven't achieved my desired goal, yet.

But here are a couple of threads that started me on my journey:
https://www.nairaland.com/2594236/elance.com-upwork.com-other-freelancing-site
https://www.nairaland.com/2947212/exclusive-how-make-level-2
https://www.nairaland.com/3237273/how-make-regular-income-offering
https://www.nairaland.com/5898215/how-build-enviable-income-email

If you are interested in earning passive income by selling books on amazon:
https://www.nairaland.com/1499182/making-regular-income-publishing-amazon
https://www.nairaland.com/5764986/kdp-kindle-amazon-books-corona

If writing is not your forte and you want to sell domain names:
https://www.nairaland.com/3430037/what-make-money-online
https://www.nairaland.com/5822942/earning-dollars-squadhelp-brandable-domains

There are many more in the business section.

Note that all of the above threads are quite long, but the wealth of knowledge in them are priceless and available for free.

If you still don't want to go through the above routes, you could pay someone to tutor you.

Thanks

PuZZyNegro:


I am happy for you. Can I ask the tribe you're from?

Your story sounds similar like mine, but unlike you, I moved to Lagos.

You're a girl so don't care much about heavy investments like owning a car or building a house thus the reason you can split your earnings to have over 70k in giveaway (parents, siblings, tithe).

A man will definitely spend differently.

As for @chatinent trying to sell upwork training tutorial here, tell them the truth that they need to know.

Getting approved upwork account is not a guarantee for anything. Freelance space is already saturated and takes a lot to break through now than it was some years back.

I started freelancing in 2016 and I work mainly on Fiverr. Only managed to get one job on upwork and even after getting a five stars rating from the client, nothing else yet since that time.

heniford2:
Your a big girl for some in Nigeria a way bigger girl