naijainfogalery:
If you are thinking of saving in Nigeria you are on your own, from experience, something will always come up. So to save

1. Invest 50% of your salary monthly in something you cant convert to cash easily - Buying properties etc
2. Do a direct debit to an account that you cant access, no deposit slip, no cheque , no ATM (dont bother asking for it) then do an automatic transfer of 10% of your salary monthly
3. Also do a savings with an insurance firm that u can only access after one year 10% of your money
4. keep another 10% for small small investment
5. Then blow the rest with all alacrity, trust me with the remaining change you will learnt to spend wisely by force by fire

kennygee:
Easy to say

Some people's take home salary doesn't even take them to the bridge before their house talk more of taking them home.

When responsibilities full neck?

GoldenDr:
I think before the salary comes make the budget. Prior Proper Preparation Prevents Poor Performance.
Do not depend solely on your salary....have other streams of income.
Success have many foster parents, failure is an orphan.

A gateman built a house with his mearge salary while a low level manager retired with nothing to show for it.

A friend currently in Abuja earning 45k as a contract staff was able to buy and build a house although not the kind he would have wished, the brother is a house owner while those that earn 135k can't even boast of 1.5m savings yearly.

tunergy:


You analysis is perfect for a single Guy or Babe without dependence.

But for a married man with children?

It is near Impossible.

I stand to be corrected.

naijainfogalery:
If you are thinking of saving in Nigeria you are on your own, from experience, something will always come up. So to save

1. Invest 50% of your salary monthly in something you cant convert to cash easily - Buying properties etc
2. Do a direct debit to an account that you cant access, no deposit slip, no cheque , no ATM (dont bother asking for it) then do an automatic transfer of 10% of your salary monthly
3. Also do a savings with an insurance firm that u can only access after one year 10% of your money
4. keep another 10% for small small investment
5. Then blow the rest with all alacrity, trust me with the remaining change you will learn to spend wisely by force by fire

Eneze1:


No. 2 is applicable to me, no time for stories

kennygee:
Easy to say

Some people's take home salary doesn't even take them to the bridge before their house talk more of taking them home.

When responsibilities full neck?

naijainfogalery:
You are a female now, as a man you have family, friends, relation that all rely on you, and the kind problem some people bring to you, even that money you dont have access you. you will quickly find a way to get it out, but if u dont have the money , my dear there is nothing anyone can do
The direct debit is not a bad idea sha-

i run 4 accounts -
1 for entertainment
2 for saving
3 for investment
4 Friends and family , so immediately i run low on this one, o boy if you like come and cry fire, you will wait till next month except its a matter of life and death lol

Amethyst1:


Wow! My first day on nairaland and I'm making front page! Wana dedicate this achievement to that toaster of mine who directed me to this site as a way of curing my boredom. I may probably give your proposal a consideration.

Eneze1:


My friend, the mere fact that I'm a lady doesn't mean there are no responsibilty to shoulder. It largely depends on your position in the family, environment and so many other things. Immediately people know you are working, they will keep coming to you to help solve one problem or the other and if you are not careful you find out that more than what you actually spend on yourself has been used for others.

Amethyst1:
The only thing money has taught me is that; 'You think modestly and brilliantly before you get paid, but once you're paid, then, it's a different ball game'


Wow! My first day on nairaland and I'm making front page! Wana dedicate this achievement to that toaster of mine who directed me to this site as a way of curing my boredom. I may probably give your proposal a consideration.

Amethyst1:
The only thing money has taught me is that; 'You think modestly and brilliantly before you get paid, but once you're paid, then, it's a different ball game'


Wow! My first day on nairaland and I'm making front page! Wana dedicate this achievement to that toaster of mine who directed me to this site as a way of curing my boredom. I may probably give your proposal a consideration.

naijainfogalery:
as in the way people will come after you ehn, and its still the same people that will ask you what you have been doing with your money, and its amazing how they suddenly think you are earning times 10 of what you actually earn. thats why i never tell how much i earn to any friend or family member except someone i know can handle that kind of money lol

Eneze1:


lol... Is just the society, majority of we Nigerians are wired to depend on others for things we are sopposed to cater for ourselves.

iyisco2001:


I guarantee you, many more proposals are coming from here.

odobe007:


thank you babe ....so u will finally give me ur numba

firfinch:
What a wise decision! Who is not envious of a Nairalander? Never a dull moment. Nairaland has been my one stop site for everything you can think of. I may not visit facebook in 3 months, but nairaland . . . Almost every 30 minutes.

CrazyMan:
After receiving your salary, it seems money always finds a way out of your wallet or purse, sometimes without consulting you. Your paycheck is hardly enough for expenses within the month not to talk about saving a portion for an investment or project.

With these few hacks, you should be able to keep a few bucks away and still make the very best of your remuneration.

1. Make a budget and stick to it.

Immediately you get notification of payment of your salary, take a few minutes to reflect deeply and write an explicit budget. Write down all expenses, essential and trivial, that you propose to make for that month. Don’t leave excess cash as miscellaneous, even if it is for recreation or outings, always try to tie something to your cash.

2. Reverse your thinking; Pay yourself first

Get this. After you get paid for performing various duties and responsibilities at work, you pay everybody else but yourself. Isn’t that just wrong? Your mechanic, food vendor and many other individuals get a slice of the cake while you get only the icing. Take out a certain percentage monthly (say 15%) and stash it in an account that you don’t access regularly. This will can become the spine for future investments or just extra cash for exigencies.

  3. Reduce your expenses

There are some unnecessary activities that you spend excessively on monthly. It is quite important to cut these short while also making the best of expedient purchases. This will include you trying to make the best bargains from your groceries, internet payment and other expenses. Do your research, ask friends where they shop and compare prices. You will be surprised at the great bargains you are currently missing out on.

4. Have a project or reason tied to your saving

When you save, have a particular project that you are saving towards. It might be investing in stocks, buying a car, getting a better apartment, starting a professional course or seed money for a small business. It’s your money so it’s your choice.

If you do not have a goal to your saving, there is huge tendency you will spend the lot on petty activities that you might later regret.


Source.

http://insidify.com/discovery/four-ways-to-get-the-best-of-your-salary?utm_source=Salary+to+Dele+2&utm_medium=email&utm_campaign=Salary+to+Dele+2

Eneze1:


lol... Is just the society, majority of we Nigerians are wired to depend on others for things we are sopposed to cater for ourselves.

Chongaiman:


Guy, fear God! A savings of 1.5m would leave a balance of 120k for all other expenses in the same year (or 10k per month). Why live by the Niger and wash your hands with spittle?