Hi all,

I consider myself lucky to get a job after 5 months I finished NYSC, with an industry standard pay above N50,000 monthly. Eventhough like 2 months salary is being owed.

Furthermore I have worked for 6 months and am not thinking of changing job soon.
Reason being that in my position as a sales person am yet to bring in that huge financial figure, close sales I will look back on and be proud of my stay here, learn enough and prove myself valuable. I also don't subscribe to changing jobs based on higher pay.... Maybe for now.... You guys can correct me if I having being thinking wrongly .

OK that is that by way of introduction.

So like I said, I have been working for sometime now but can't boast of N50,000 savings.
I don't buy or use expensive things (most of my work clothes are first grade okrika, except for my natives that are new).
I don't do girls neither do I spend money on drinks, friends etc.

The bulk of my salary is often spent meeting one need or the other, personal; family etc. At the end of the month when am looking forward to add to what I was able to save one thing or the other will come and have me spend the money on it.

Really am not finding it funny as I don't have an alternative source of income. I have even thought of going to the bank where my salary is being paid into to request they set aside a reasonable sum of money as savings and leave the remaining balance.

Pls I have come to ask you guys. Do you find yourself in a similar position, how do you manage to save, what other sources of income can one venture into still keeping the regular job.

Pls I don't intend to be an employee up till my late thirties as I also have my own business dreams to actualize.

Pls your ideas, constructive criticisms and suggestions are highly needed.

A＄ĸ google

hunnnm...u r still lucky bro. but as single guy I don't think 50k job is small for u . I have some married men with kids in my office collecting 50k and they r saving from it in fact most of them stay in sango and work in iyana-Isolo.

if truly u don't do ladies, drink, or go out with friends u can still succeed with the 50k job.

I'm sure your tfare for the month is less than 15k ?

You don't pay house rent ..right?

you don't eat too much ?

u don't have unhealthy dependant ba?

u r not dating a student ..right?

if my answers to my question are yes then u don't have problem.

save 15 out of the 50k but I will advice you to do contribution rather than save it in your bank account.

in a year u will harvest bountifully and u will come here for testimony.

maybe then u can tank me.

Pay in all d moni inside my acct

X†rA moral toturial

Bro, to inculcate the habit of savings isn't really easy but requires lot of discipline and prudence.

For me I earn close to 50k and save 20k(compulsory)

But I psychologically presumed within my mind that it is 30k,so whenever anybody asked me about my salary package, be it friends or family, I tell them it is 30k I earn monthly.

Secondly, I tend to avoid flashy girls "dem no dey epp financially, their own na to chop chop and drain guy without pity" Date a God fearing girl, that even when she feels like tasking you anyhow,her God fearing conscience will prick on her.

Lastly avoid any form of betting for now if you are into it.

On the contrary,

Do you know that Nigerian graduate’s salary is 1/7th of that of a US graduate,
while a Nigerian Senator’s salary is 8 times that of a US
senator.

Sighssss

Good Question

Hmmm. Investment gurus shud take over please. I am interested gaskiya.

I have two extra empty bank accounts, Gtbank and first bank.


Tell me the one I should send to you.

Op play bet9ja

I want to learn here

It is small.


Just keep ur expenses extremely low.





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And reasons why we should not buy "everybody is a thief politicians sell to us."

Let me copy a nairalander that analyses loot.

U are probably collecting like 70k per month in a year u will collect 840,000 per annum.

1.2Billion was allegedly traced to Fayose'should account.

It will take 1,428 years for u to get that money.

Let's assume ur income increase at 40% per year it will still take close to 1,000 years



SAY NO TO CORRUPTION AND "EVERYBODY BODY IS A THIEF" mentality.

The salary is small,unless you get a high paying job or do other jobs ,you can't save..unless you starve yourselF

I love this guy.

Unless you live with your parents

No electric bills

no house rent

no food and living funds expected to be spent



I do not see how you can save let alone invest

dont spend all have a certain amount you can save in the bank always maybe invest 40% of it.

I suggest you should maintain a tight budget, just make it look as if you earn 35k, do for the Family but also don't cross the rubicon by not saving.
maintain a two account don't subscribe for the alert debit nor bother to have the Atm.
let one be for frivolity let the other be investment.

this page should guide you

www.nairaland.com/2121184/w-r-e-principle-financial#32565591

Start thinking of another source of income apart from your salary,there will always be bills to pay every now and then, don't dull yourself

Join a cooperative group where you can save at least 20k from your salart

DaBullIT:
Unless you live with your parents

No electric bills

no house rent

no food and living funds expected to be spent



I do not see how you can save let alone invest

You are on point! he should continue searching for job, 50k is not a good salary in this harsh Economy,that is less than 200$

Register with ARM, (browse for info on it), they could help you save. They'll deduct a certain amount of money monthly from your account and keep it in your ARM's account, which you will not be able to access for a stipulated period of time. At month's end, you'll only make do with the balance left to see you through the month. Needs must always arise, yours and family, and when there's no money on ground from your end, you'll see how most of those needs will sort themselves out.

Best of luck.

I appreciate the responses I have gotten so far.

.

Well my advice is first u will alway have bill to pay either for ur self or family but saving is important and necessary so u have to make up ur mind that u want to do it,, and Den may be crate an account specifically, make sure u have a purpose for saving like having something in mind to do with it not just pulling it up,cos if it has no purpose u might just spend it on frivolous things,, if u have any reason to dip ur hand into ur saving let it be an important and urgent reason and also keep some certain amount monthly to take care of ur other need like family and lastly if time permit u look for other source of income....

Save the amount u intend not to spend in another account,u can transfer online,then spend the remaining money,don't spend from d whole money,then thinking u will save later.

TomorrowToday:
OK please I am seeking for mature advice from people who have responsibilities with an average income and still manage to save and invest.

bros, I feel your pain... .here's what I'd suggest: after collecting your salary, pay yourself first by taking 10% of it into another account.
Deduct basic expenses like transport, feeding and accommodation for the next month. Use the rest on responsibilities by staying within your means. Inculcate a zero-borrowing attitude and review your plans based on experience.

All the best.

TomorrowToday:
Hi all,

Get this book: The Richest Man In Babylon by George S. Clason.

Don't save what is left after spending... spend what is left after saving. In other words, no matter how small it may seem, try to safe a certain amount (say between 5-7k) monthly REGULARLY. Put it in your other account and act like the account doesn't exist. It takes discipline to do such but you can achieve that goal pending the time you get a higher paying job.

N.B. The higher your income, the higher your expenses. If you don't get used to saving now, even if u start earning 200k monthly, to save would be a challenge for you, so act now.

Saving is a mindset. For good tips,take a book and read. Even chronic spenders here will be forming supersavers

It's simple op open another account and start saving atleast 15% of your salary do not request for ATM card to enhance your self discipline look away from major family responsibilities and cut your cost to bearest minimum


.......share your testimony with us in the next one year!



Cheeeeers