Greetings to All.
I am a mother of 4 children and working presently with a private organization. I left home to work this morning very sad, reason being that I have been working with this organization going to five years now. I don’t have any saving, is not that I buy new clothes for myself or children, I don’t make my hair. After collecting my salary within two weeks I will start borrowing money from people to sustain myself to the end of the month.
I thought of resigning to look for something else to do, but my fear is these- presently I do not have any saving to start a business and for now I do not have anything in mind to do.
Please I need advice/suggestion on what to do, I can’t continue like this my children are growing and I need to fend for them.

What happened to the father of your kids or is he not working ?

this is tricky and such a dire situation to be with!

My tips based on personal experience is to firstly ensure you're saving even if only 5000 from your salary or 5% whichever is immediately more convenient! Put it away in an account you don't have an atm card for! Try not to touch it except someone is dying! It's a start towards having a Cushion for rainy days!

Next is begin to track your expenses! Use a notebook daily to pen down how much you've spent and on what. It'll help determine if you're being wasteful or indulging in any frivolous expenditure.

Then begin to cut back on anything and anything. For eg depending on the ages of your children they may not need to drink milo especially not everyday. Cut back from foreign brands to local ones! Give them pap instead of packaged cereals- they'll thrive just as well!

Start making one pot meal and improvise where necessary! Cool things like yam porridge instead of yam and eggs, make mixed okra soup instead of okra and stew for eg, make jollof spaghetti/ concotion rice to save on food costs for now! Use dried crayfish, dried fish etc, Serve meat once a week if need be! Your children will be just fine!

For next term don't pressure yourself unnecessarily bring out thier old bags, shoes and uniforms - mend and adjust! Just put them in shape for next term. Same with books if possible.

For yourself how do you get to work?taxi or do you have a car? Park that car and take bus or hitch rides!!! Where you take keke/ bike within your neighborhood use your legs! Just plan yourself to walk at your pace so you arrive your destination fresh!

For your debts, sit and work out a payment plan for the next few months and don't add to it no matter how pressured you are!

Begin to think of an alternative and additional source of income even if it's frying chin chin or plantain chips to sell at work or to neighbours

Will be back if I remember anything else

Woman, you need wisdom .

Are you a single mother?
If the father of your kids is alive,is he not supporting you financially?

thorpido:
Are you a single mother?
If the father of your kids is alive,is he not supporting you financially?

Whether involved in their lives or not, he may not have much to contribute financially!

Usually we mums will go the extra extra miles to cover all gaps!

I suspect she's straining herself to make sure the family is alright

babythug:

Whether involved in their lives or not, he may not have much to contribute financially!

Usually we mums will go the extra extra miles to cover all gaps!

I suspect she's straining herself to make sure the family is alright

What if he can contribute but is evading responsibility?There should be a way to compel him to become involved.She didn't have those children all by herself.

babythug:
this is tricky and such a dire situation to be with!

My tips based on personal experience is to firstly ensure you're saving even if only 5000 from your salary or 5% whichever is immediately more convenient! Put it away in an account you don't have an atm card for! Try not to touch it except someone is dying! It's a start towards having a Cushion for rainy days!

Next is begin to track your expenses! Use a notebook daily to pen down how much you've spent and on what. It'll help determine if you're being wasteful or indulging in any frivolous expenditure.

Then begin to cut back on anything and anything. For eg depending on the ages of your children they may not need to drink milo especially not everyday. Cut back from foreign brands to local ones! Give them pap instead of packaged cereals- they'll thrive just as well!

Start making one pot meal and improvise where necessary! Cool things like yam porridge instead of yam and eggs, make mixed okra soup instead of okra and stew for eg, make jollof spaghetti/ concotion rice to save on food costs for now! Use dried crayfish, dried fish etc, Serve meat once a week if need be! Your children will be just fine!

For next term don't pressure yourself unnecessarily bring out thier old bags, shoes and uniforms - mend and adjust! Just put them in shape for next term. Same with books if possible.

For yourself how do you get to work?taxi or do you have a car? Park that car and take bus or hitch rides!!! Where you take keke/ bike within your neighborhood use your legs! Just plan yourself to walk at your pace so you arrive your destination fresh!

For your debts, sit and work out a payment plan for the next few months and don't add to it no matter how pressured you are!

Begin to think of an alternative and additional source of income even if it's frying chin chin or plantain chips to sell at work or to neighbours

Will be back if I remember anything else

Wow!! Believe me, giving the economy many families are passing through hell. Thanks for the advice even though it was directed at me , I did learnt a thing or two. Thanks.

You currently feed six people: yourself, 4 kids and your landlord. There's no way you can save in this condition.

As much as I like business, I wouldn't recommend one now. This is what you should do;.

1. Join a cooperative

or
2. Do monthly or weekly contributions (thrift? esusu? ajo?) and ensure you're faithful to it.

or
3. You can open a money market account with one of these investment banks (ARM accepts as little as N5000 to start and subsequent payment of N1000)

4. Like someone said, cut on your expenses, improvise where necessary. Look out for good but cheaper detergents, soap, toothpaste, etc Children use lots of groceries. Consider an electric cooker to save cost on kerosene and liquefied gas; and make casual calls on WhatsApp.

5. Lastly, never be scared of making good friends. There should be someone you can call when you genuinely need N1000, N2000, N5000, N10,000, etc without them reading funny meanings to your request. Also, be ready to give (out of the little). There has never been a time I gave out something without receiving, it works like a magic.

thorpido:
What if he can contribute but is evading responsibility?There should be a way to compel him to become involved.She didn't have those children all by herself.

Share same sentiments.

Unless the man is dead, it's his responsibility to contribute. The woman shouldn't carry all the burden alone else she die before her time.

How much are you earning and what about your hubby?

Oh lord have mercy! Four several children! Well, I'm sure they have a daddy. I remember what someone once said to me when I quited my last job. She said she admired young unattached individuals who can just sod it and leave when breathing becomes too hard. Biko don't quit, try to manage some savings and cut down on expenses.

Embrace the DIY thing and introduce the different doctrines of economy in your household. I wish you plentiful... Pele.

ifyalways:

Share same sentiments.

Unless the man is dead, it's his responsibility to contribute. The woman shouldn't carry all the burden alone else she die before her time.

It's sometimes easier to insist on these things in theory! Who's gonna make him pay? I feel she should just man up and do what she can in the absence of support from her man!

Is the Father of your children helping you take care of them?

I so much appreciate all your comments,piece of advise and suggestion. I will surely apply those suggestions i have not started working on, especially the area of tracking my expenses, i have actually not considered doing this.

@Acidosis, how long will i save into the money market account before requesting for withdrawal? In the area of giving, i do give when i have something to give.

My hubby is playing his role has a husband, it just that the money is not enough for our upkeep and expenses.

Once again a very BIG thanks to ALL.

amamama:



@Acidosis, how long will i save into the money market account before requesting for withdrawal? In the area of giving, i do give when i have something to give.

I will make enquiries and get back to you

amamama:
I so much appreciate all your comments,piece of advise and suggestion. I will surely apply those suggestions i have not started working on, especially the area of tracking my expenses, i have actually not considered doing this.

@Acidosis, how long will i save into the money market account before requesting for withdrawal? In the area of giving, i do give when i have something to give.

My hubby is playing his role has a husband, it just that the money is not enough for our upkeep and expenses.

Once again a very BIG thanks to ALL.

So husband dey?Your hubby should double his hustle then and both of you should track your expenditure and cut down to the barest minimum the things you spend on.

look 4 a beta job or bizness 2do y r u disturbin nairaland

Missnairaland:
look 4 a beta job or bizness 2do y r u disturbin nairaland

That's a mean thing to say my dear.

emilyone:

That's a mean thing to say my dear.

Ok Sorry

amamama:
I so much appreciate all your comments,piece of advise and suggestion. I will surely apply those suggestions i have not started working on, especially the area of tracking my expenses, i have actually not considered doing this.

@Acidosis, how long will i save into the money market account before requesting for withdrawal? In the area of giving, i do give when i have something to give.

My hubby is playing his role has a husband, it just that the money is not enough for our upkeep and expenses.

Once again a very BIG thanks to ALL.

Don't stress yourself with the money market investment. You will get next to nothing as interest. The interest is between 9 to 11% per annum and they will be deducting some amount as fees. There's also a chance of incurring losses although minimal.

If you operate a pension account, maybe you should subscribe to AVC. I don't know the minimum amount required. But with AVC, the amount of tax deducted from your salary will be reduced and have some savings at the same time.

Missnairaland:
look 4 a beta job or bizness 2do y r u disturbin nairaland

So sorry for disturbing you. I was troubled, like they say a problem shared is a problem solved. More so, if you have a good job or business for me, I am readily available.

amamama:

So sorry for disturbing you. I was troubled, like they say a problem shared is a problem solved. More so, if you have a good job or business for me, I am readily available.

can we talk privately

babythug:

It's sometimes easier to insist on these things in theory! Who's gonna make him pay? I feel she should just man up and do what she can in the absence of support from her man!

As long as he's alive and in control of his faculties, he STILL needs to bring something to the table, no matter how little. Anything is better than nothing.

Or do his kids not answer his surname?

EfemenaXY:


As long as he's alive and in control of his faculties, he STILL needs to bring something to the table, no matter how little. Anything is better than nothing.

Or do his kids not answer his surname?

They do! It's just the means to enforce should he be unwilling to contribute that I worry* about!

In some countries the law will help enforce but here in naija it's a different ball game altogether

aro1:
can we talk privately

Theodavid2009@gmail.com