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Nairaland Forum / Nairaland / General / Properties / How Much Rent Is Too Much For Someone Who Earns 100k A Month (32115 Views)
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Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Zaikon(m): 5:13pm On Nov 22, 2018 |
ogawisdom: Boss u sabi think link well |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Optimist88(m): 5:20pm On Nov 22, 2018 |
ogawisdom:After you sir! |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by samlake(m): 5:52pm On Nov 22, 2018 |
OP, but you should have seek for counsel before proceeding... |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by IbrahimDamola: 5:59pm On Nov 22, 2018 |
Acidosis: There is a difference between being stingy and frugality/financial discipline. The difference in the two is based on your values. There are things you may value that I don't. You may value fast cars while I prioritize nice houses, leisure and travel may be your thing but it may be down on my list below education and health. I think it also start with the family. There are billionaires who loves cars and private jets like Dangote, carlos slim etc but Warrent buffet and Mark zuckerberg are billionaires who are not car enthusiasts. I come from a businessminded family and right at a tender age, you'll by default understand things you are supposed to value over others with education top on the list. I attended one of best universities and I never lacked material needed for study why should I not do same for my kids? 3 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Obeenah(m): 7:05pm On Nov 22, 2018 |
Well basically the mutual fund is like a special savings account but with better features as it earns you interest higher than the regular savings or hybrid savings accounts operated by banks. Stanbic IBTC and ARM are the 2 institutioms that operate it that I know. I operate mine with stanbic. You can save via depositing in multiples of N5000 into the account. Currently interest rates are about 11% or 12% pa on mutual funds compared to 4% for normal savings account. If you have idle cash in your account please move it into this or try other better yielding options. You can make something off the interest earned. oscaruzie: |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by oscaruzie(m): 8:05pm On Nov 22, 2018 |
Obeenah: many thanks for the exposé. I'll strongly consider. � 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by cnonyechi(f): 8:33pm On Nov 22, 2018 |
Njeps: I told u wat my husband does. moreover guys or ladies does it matter? abi woman sef no dey work and pay rent. incase u aint aware many women out there come to dis lagos with no relative to live with and no friend or sugar daddy all det av is dat job of 100 or 50k or more. and dey rent apartments, pay bills and still have to cater for family back home.so dis no be only man jist 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by kennydotkom(m): 8:59pm On Nov 22, 2018 |
Op. I think you are not living beyond your financial capacity... By pay a yearly rent of #300k. Atleast if your 3 month salary can cattery for a year rent. You are good to go.. As i am I earn, #60k salary and my house rent of 2bedroom flat in lambe/akute is #150k per annum. married with 2 kids though my wife is not working yet. Atleast if I use my 3months salary to pay rent, it not to much. Though I no I Wil spend alot to go out to work because of distance but the house really worth it. I no u cant get new house in Dat YABA. Area like my area. We'll tiles, water, light. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by akeensbussy(m): 9:02pm On Nov 22, 2018 |
ohizzy:Rent a room with shared facility if u are in lagos. But if u can come down to Alagbado or Ota, rent a room self Btw 60k and 80k yearly. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 9:47pm On Nov 22, 2018 |
Rosville: |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by marshborn(m): 10:07pm On Nov 22, 2018 |
kennydotkom:Thanks bro |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by gykes(m): 8:41am On Nov 23, 2018 |
aAK1: I'm just laughing at people talking about 20%, 30%blah blah blah... they obviously have not stayed in or visited Abuja where a decent one-room self contained apartment around Lifecamp or Jabi goes for as high as 350 - 500.. And thats not even Gwarimpa, wuse, or CBA (garki and the likes).. My advice is, seek comfort after saving, and triple your hustle while at it. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by larrypourl(m): 8:44am On Nov 23, 2018 |
kellyo321: I earn 85k after deduction and my rent is 45k annually. A room self contained, and I furnished it to taste. Location matters thou, mine is Oyo town. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by larrypourl(m): 9:06am On Nov 23, 2018 |
Godson213: Bro let her see reasons why you have to get a room self contain for now and when your finances are better, you can move to your choice place but make sure the one room is spacious so you can furnish it nicely, tiled bathroom/toilet, kitchen, etc. but if you're considering marriage soon, go for the 2 bed so you could start buying properties gradually but if marriage isn't in the picture yet go for d one room please. I earn 85k after deduction and my rent is just 45k, a room self contain like yours, saving to buy a car next year. What people don't understand is that you have to deny yourself some comfort to achieve set goals in life. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Godson213: 9:22am On Nov 23, 2018 |
larrypourl: I understand that I have to deny my self a comfort. Silly me wanted to break my financial neck because of a woman. Will renew the rent on the self con 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 3:38pm On Nov 23, 2018 |
cnonyechi: Madam, say whatu earn and what u do with your money or the billsu pay with your money. Dont say u earn 70,000, and my husband pays for house rent of N400k. abi u no understand the trend of wetin dem dey discuss for here.?? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by obekediamondfuto(m): 1:06pm On Nov 24, 2018 |
Don't over-save and don't over-spend....it doesn't get any simpler than that! the extremes of both sides have severe consequences....ok you want to over-save at the expense of your sanity.... by squatting with someone? no Privacy, little or no jurisdiction over decisions, no autonomy etc... #endless list or you want to over save by getting that 40k PA apartment deep inside ikorodu, when you work @ VI.....? transportation exposes you to the first and foremost risk... way laying - accident - cost - unforeseen circumstances - time/ resource loss - and most of all....... sanity. that's transport alone, coordination, health, economic / social responsibilities....etc. don't also also go overboard with expenditures, you will need to expand and grow... both in rank/ status, responsibilities, assets, expenses, inflation, futuristic planning .... etc now to the very beginning, the concept of spending; whether over or under, is relative..... someone working @ silverbird galleria for 1.2m annually that secures an apartment beside the galleria for 400(+/-) full annual package (water, light, security, maintenance, etc - the slight increments or decrements in the cost should cater for these) is actually living well within his means to me. if not for anything but for the sanity of sleeping on time, waking up feeling refreshed and being more creative and productive.....also with an extended life span!! someone staying @ iyana ipaja or ota, paying 100k would actually be spending more psychologically! the traffic alone can deduct 500k from the persons health balance! then we bring in the transport fare deductibles, then the health risk, then productivity..... etc it's all about finding a balance! I call it MODERATION 8 Likes 1 Share |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 12:21pm On Nov 25, 2018 |
vivaciousvivi: U done really suffer o |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 1:01pm On Nov 25, 2018 |
TonyeBarcanista: Be very careful. She is now married. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by TonyeBarcanista(m): 3:37pm On Nov 25, 2018 |
DrDauda:Married to you? |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Oliver80(m): 7:51am On Nov 26, 2018 |
temmy59: It’s a single room with bathroom, there used to be service charge but not anymore, everyone run their generators from the power house. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by temmy59: 8:32am On Nov 26, 2018 |
Oliver80:How many people use the kitchen. Firstly to start life, and if am working on the island, I would opt-in for this; maybe one year or two. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Nobody: 12:11pm On Nov 26, 2018 |
Obeenah:Sir, what's the difference between Mutual funds (as you explained above) and Treasury bills? 1 Like |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Obeenah(m): 1:19pm On Nov 27, 2018 |
For mutual funds, it is a flexible contribution scheme which earns you interest on a daily basis. Currently at 11% P.A. you can keep adding to your funds as you please anytime. Also it operates via the principle of compound interest. For Tbills. You buy them usually from the secondary market through your bank. Unlike the mutual fund which is flexible. The Tbill is not. It however comes with the advantage of paying you your interest immediately. EG: say you have 100k to invest in Tbills. @10% p.a. if you invest for 1 year. You will get paid 10k immediately and at the end of 1 year you will get your 100k back. With mutual funds. You will earn slightly higher but would have to wait till maturity or pull out your funds anytime you please. Omoluabi9: |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by oyedepo1(m): 3:04pm On Nov 27, 2018 |
pol23: Very true. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by oyedepo1(m): 3:06pm On Nov 27, 2018 |
marshborn: IMO, 25% of your income going into rent is not a good idea at all. Remember you still other expenses like electricity, water, generator, security, PSP, etc to cover. Paying that kind of amount for rent is just like living for the landlord. |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by sylvez(m): 5:20pm On Dec 10, 2018 |
Offpoint: I'm seriously interested in whatever your reason is.... can you please buttress |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Offpoint: 6:09pm On Dec 10, 2018 |
sylvez:It's a human thing bro, there comes a time he'll start seeing you as a burden, that's when he'll complain about un-necessary things. I'll need his space and star feeling uncomfortable. It's a human thing bro... |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by YoungOldGee: 6:58pm On Dec 10, 2018 |
There is nothing like 2 much for ones comfort. You just need to find a balance between saving and living in the moment. I work in VI with a salary of 1m per annum and my rent in Shomolu for a mini flat is 350/annum. I value my comfort to anything else. Some people will save all their money to buy car while they are living in a not so good condition. It all depends on what makes one tick. 2 Likes |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by sylvez(m): 10:35pm On Dec 10, 2018 |
Offpoint: Ok thanks bro By that time I'll just pack out na |
Re: How Much Rent Is Too Much For Someone Who Earns 100k A Month by Offpoint: 8:43am On Dec 11, 2018 |
sylvez:lol, make God bless our hustles so that we fit afford our needs 1 Like |
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