Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. - Family (10)

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Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. - Family (10) - Nairaland

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Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by eroticecstasy: 5:51pm On Jun 01, 2023

This is a fabricated story, lies everywhere

2 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by wengerman: 5:59pm On Jun 01, 2023

How can you be using 180k to fuel your car in a month. Na their your salary dey lost and also your rent about 25% of your monthly salary.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by litaninja(m): 6:11pm On Jun 01, 2023

- if you're spending 30k per month on maintenance or repairs on your car you need to go out and set fire to it right now before you continue reading this

- you have a home office? Meaning you work from home. Why are you spending 36k on car fuel for 5 days?

- if you're currently able to afford 50k monthly for gen fuel only, i suggest trying to get a lump sum around 700k to setup an inverter / solar power system no matter how small. Should pay off itself in less than 2 years judging by the current budget

- if there's fibre coverage in your area, scrap the dstv and data, roll over as much of your calls to whatsapp

- at 4k per month for laundry, get another lump sum for a 5kg front loader washing machine then iron yourself. Should pay off in about 2 years

- hygiene maintenance can cut to 5k per month. Na designer perf you dey buy?

- family house contribution is neither here nor there sha

- learn some diy for the repairs and maintenance. Get quality replacements when you do diy work. Cheaper in the long run

- your provisions probably need a little more budget. 30k no go reach again like this.

- get a GF. Life short, enjoy it a bit. You won't be on 400k forever. Lol.

- don't listen to any of that tithe nonsense

- the rent is also fine. Mainland rent sef high don't dull.

- the feeding is fine. In fact you can raise to 2k5 or 3. Eat well and live healthy or else you go kpai young

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by chiboycue: 6:12pm On Jun 01, 2023

Try and get a 2 bedroom accomodation of about N400,000 - N500,000 per annum if you need a 2bedroom but as a bachelor it is wise to get a one bedroom apartment which would cost about N300,000 - N350,000 per annum. Try and cultivate the habit of saving at least 45% of your monthly income. It good to a separate bank account with no ATM card so that you could be transferring at least 45% of your monthly salary to that account without ATM. Then cut down on your expenses on fuel for vehicle, generator, gifts to people and eating at restaurant. Alternate source of power is solar with inverter in place of generator. Pay your tithe to God. Stock your house with food stuffs and cultivate the habit of cooking home food. Instead of going with your vehicle all the time, you could go on public transport. You could subscribe to the least expensive package on dstv. Plan to buy a piece of land and develop it in the future.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by sunkieisland(m): 6:12pm On Jun 01, 2023

He's still okay, as his rent is less than 30% of his income which is not outrageous. The major things taking his money are fuel and car maintenance which is taking almost 60% which is a red flag. He needs to find a way to cut this down.

Try inverters instead of petrol generator. You'd save in the long run. Then only go where you'll get a return on your movement. Any journey that is not fuel money back guarantee, in this TinuBull economy is not necessary.

Thank me later

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by mikaael(m): 6:12pm On Jun 01, 2023

Let me tell u one secret
Find way to pay your tithe to any bible beliving church of ur choice
It has been working for me for years
Except u don’t believe in God then you are free

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by DrDunamis(m): 6:19pm On Jun 01, 2023

You no dey pay tithe?
Anyways sha...
You suppose pay tithe...
Then also save at least an amount equal to your tithe or higher...
Then some of those things are just excesses that when you look into critically you can cut down on

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by litaninja(m): 6:22pm On Jun 01, 2023

Please name the neighbourhoods and let me tell you what you'll get from renting there. I dey wait.

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Aaaaarghmed(m): 6:26pm On Jun 01, 2023

no mind am..he never ready.its same way my younger brother who I senior with 10years is doing in lag,renting a house of 600k on a 130k salary.i just dey laugh Op and my brother. grin

4 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Timiblanko(m): 6:27pm On Jun 01, 2023

Bruh come and do solar.
09012503410

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by AugustHillz: 6:28pm On Jun 01, 2023

I believe you made this post to spite and insult Nigerians that are suffering to survive everyday. How can a matured and educated man(if you are) come online to beg people to help him budget his monthly earnings.
For the records most millionaires live on only 30% of their earnings.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Tohmey(m): 6:30pm On Jun 01, 2023

My man, you house rent no suppose past 10% of your salary, but hear you are using upto 27%

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Realiskit(m): 6:31pm On Jun 01, 2023

. It is quite unfortunate the amount of abnormalities in Nigeria and almost every African countries who have refused to learn and grow. Imagine spending more on generator fuel than on your health. No basic amenities. What a country.
Sometimes I dreaded coming back to visit just because of the state of affairs in my dear country.

Dude, the only solution to your problem and most people in Nigeria is to cut down on unnecessary expenditures e.g dstv, some outings, monthly renewal of clothes, wears etc. Focus on needs not wants.

And most importantly, like others have pointed out, live within your means. You don't need to live a fake life (becoming a debtor just to show up) for folks who know your worth to admire you. Living to impress have always ended in regrets.

And for those of you who go about celebrating, and hailing politicians because they build ordinary roads, flyovers etc, with your task money, I pity you all. Common social amenities will always be a problem. Electricity, clean water, good roads, good health system, all are sole responsibilities of the govt but in Nigeria, is quite the opposite. We are our own govt, so sad.

Some people might think, why are you bothered, when don japa. Surely I no dey naija, but I spent way too much than those of back home because I have families over there.
So bad naija govt still reach me here.
So you should understand why a working naija is good for all of us irrespective of where one dey. I won't be surprised to receive more calls now as the fire don received more oxygen.

2 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Wodu89: 6:35pm On Jun 01, 2023

This shocks me daily

And for those of you who go about celebrating, and hailing politicians because they build ordinary roads, flyovers etc, with your task money, I pity you all. Common social amenities will always be a problem. Electricity, clean water, good roads, good health system, all are sole responsibilities of the govt but in Nigeria, is quite the opposite. We are our own govt, so sad.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Juliearth(f): 6:36pm On Jun 01, 2023

Step down your rent. A room and parlour selfcon would suffice. Use the dining area as your office.

Sit outs - strike this out or make it occasional. Have your favourite bottle of wine handy instead for once in a while turn up.

What's the distance between your work place and home? What you burn on fuel is quite outrageous. This is yet another reason why you should consider relocating. This time move closer to your work place and a smaller space.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Wodu89: 6:36pm On Jun 01, 2023

Given modern days inflation, it's impossible to live on 30% if earnings

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Ayomivic(m): 6:40pm On Jun 01, 2023

This post is for the rich men . #400,000 per month ? Of I can receive this money for a year I would not be living in another man's house . God forbid bad thing

And I am assuring you , I will have more asset that would be given me money aside my monthly salaries . Eno lot o ni fila

Man , your mouth is wide . If you are receiving 1 million per month I believe you will still complain because you will also create unnecessary expenses for yourself that would make you to complain

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Wodu89: 6:41pm On Jun 01, 2023

Calm down. 400k per month is stipends

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by uzoexcel(m): 6:45pm On Jun 01, 2023

should we tell her #LagosRent.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by riccatti(m): 6:49pm On Jun 01, 2023

You need to cut down on fuel consumption. You can sell your car and get another with fuel economy

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by skj1377(m): 6:57pm On Jun 01, 2023

Let me help you
1) rent N500k/yr
2)) car only on weekends N20k per month
3) buy washing machine pay for ironing at 150 per cloth a week has 5 days so N3000 per month
4) feeding you need to cook you can't keep buying food with your small salary. Get a freezer invite a lady to make soup for you for the week N10k per week so N40k per month
5) transport without your car N15k per month
6) hygiene N7k per month
7) give away N10k per month
cool

dstv N8k. ( You have cut fuel by not using your car always).
9) family N30,000 per month

10) saving N100k per month
Hope I have tried

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Compliant(m): 7:00pm On Jun 01, 2023

Fuel for generator is 50,000
Eko electricity is 10,000
Outing is 30,000
Gift to people is 10,000
Cloth and footwear is 10,000
Reduce repair to 2000 monthly and save 10,000

Total =120,000

Now from the above, gather this money for 1year and then use the money to buy 3kva inverter and batteries with panel.

This 120,000 will become savings to you for the next 5 years.

Cut off eko electricity and outing and see your savings growing

Do the calculations and thank me later

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by oba1000(m): 7:00pm On Jun 01, 2023

You only told us about your monthly salary, nothing is said about your side hustles man. Your house is shared btw your good self and business, therefore share the rent accordingly. 20 litres fuel per day isn't too much, since it serves dual purpose you and your side hustles, same with your car, fuel and maintenance. Put some cost on your business, then you will see what you have left.
Mind you, not everyone on this platform has the kind of opportunity that you have, my guy, manage it well. Millions of Nigerians are still praying to have something closer. Count yourself lucky man.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by toujurs: 7:02pm On Jun 01, 2023

Guy go for a rent of 900k per year.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by mrbass18: 7:02pm On Jun 01, 2023

My brother from your list I can see why you can't save ...I didn't even see where you included God for tithes
And yet 62k for feeding are you normal
That money willl get you three times food stuffs that will last you for two months well if you decide to cook

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by sorepco(m): 7:03pm On Jun 01, 2023

You should be saving 150k to 180k a month! You do not need a 2 bedroom house but a self con to save money...62k for food is too much!
50k a month on fuel? That 600k a year...y not get an inverter or solar for that amount? U love ur AC i guess!

Anyways just try to save 180k a month and other things will take shape.

[center][/center].

[quote author=Essenza01 post=123493803]I really don't know anymore, i just did my budget for the month and i am scared, i have cut from everywhere possible and i fear for my self.. i dont have a GF, Wife, Children.. my salary is N400,000 and i have added side businesses and one or two's to even survive.. but

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Nwanna2588: 7:04pm On Jun 01, 2023

You are a high-taste type. That amount per month will sustain a family of four.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by uzoexcel(m): 7:10pm On Jun 01, 2023

tips to reduce costs.
1) carry a couple of people going your office route, to and fro for a subsidised amount..2 people should be just ok.the money realised will help with fuel purchase and maybe auto maintenance.
also leverage on your staff bus if possible.

2) go all out and invest in an inverter..starting with 1 battery if possible..trust me the peace and rest of mind that comes with it no be here...u also save on buying fuel..

3) if u have a deep freezer, cook or hire a cook for weekends...she can prepare sauce, soup and stew that u can store in your freezer..going forward u then need to spend less time boiling rice or frying yam and plantain or making swallow to go down with the aforementioned. also learn to take food to work.

4)buy foodstuff (non perishables), groceries and household stuff ( toileries etc) in bulk.I buy quarterly. and things last for at least 3 months for me.

5) u have a spare room and u aren't married yet.
get a flatmate if u can..or go the route of having working class people who need a place to stay and go to work Mondays to Fridays and who will afterwards return to their own places Friday till Sunday.. there are loads of threads on nairaland on people who need such respite..they can pay u weekly.

6) also switch your appliances to low energy consuming substitutes. rechargeable standing fans, a laptop with long lasting battery. this will help conserve on fuel especially at night.

7) don't overtly try and impress anyone. you have your pockets to reckon with.

3 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by PattyMike(m): 7:11pm On Jun 01, 2023

400k is more than enough in Lagos. Get a cheaper house in Ajah. You can get a decent 2bed for 800-900k. Fuel 50k per month? You well so? Invest in solar na. And the power is getting better. Bros you never ready o.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by kingabue(m): 7:14pm On Jun 01, 2023

You can cut out some of your expenses and see if the money will be ok but if it’s not ok, there are other opportunities out there if you are willing to leave your comfort zone..

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Alaga2222(m): 7:16pm On Jun 01, 2023

Instead make you thank God say you even get to spend... me wey still Dey jobless nko? Please ooo I’m seeking for a job I will be glad if anything comes up... I have 4 years experience in hospitality industry I can work as a waiter cashier or a Barman in any hotel or lounge

Thanks in advance

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Nobody: 7:17pm On Jun 01, 2023

Madam this short hard knock life one must deliberately create room for enjoyment or die miserable... It's not a big deal to relax and unwind it saves u from visiting the doctor frequently undecided

1 Like

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