| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by ofiko123(m): 3:03pm On Sep 20, 2021 |
Which one is today's Nigeria..?? |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Nobody: 3:04pm On Sep 20, 2021 |
Fear God Na cleaner N5000, Na human being the cleaner go be oo Jerryherd:
I think he is just too wasteful on a 400 k salary, he is pratically spending himself into poverty
Use https://www.numbeo.com/cost-of-living to calculate standard and Average cost of living per city accross the world and you might understand something is fundermentally wrong with your friend
I have lived in Ajman, Dubai, Sharjah, and Abudhabi, UAE,
Lagos, Ibadan, Abeokuta, Abuja in Nigeria
Muscat , Oman
And take out price variation regarding rent and utility... I can categorically say your friend is wasteful
✓Rent - 84,000 monthly (average 2 bed) a sensible Batchelor lives in a single bedroom apartment or shared apartment so Rent should be ₦42,000 a month for a single room within such complex
✓ Security - 5,000 monthly a single Halogen security officer cost ₦30000 and can secure a full building you should not pay more than ₦2000
Estate security - 3,000 monthly in a gated estate you pay single security levy and not multiple
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly what do you need 300 litters of petrol for in a month you either get a place close to work or use a more Economic car
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)
. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Resurgent2016: 3:07pm On Sep 20, 2021 |
chatinent:
How do you advise him then if he is to marry...and start producing babies?
Lagos harbour people who earn below ₦50k monthly too who dress fine and live...at least...okay. Depends on the industry. For a consultant in say a big4, he wont say much from that money. I have been there and I can tell you cutting too much corners to "save" will cost him his career in some industries. Good thing is he can make 2-3x that amount in a few years if he invests in himself 2 Likes |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Nobody: 3:09pm On Sep 20, 2021 |
What God has put together let no man put asunder Newboss:
Rent is the biggest necessary expense if you live in Abuja, Lagos, or ph.
I cannot give you a breakdown of my weekly feeding expenses. However, your wife is definitely cashing out heavily on you. Wives always do that. Go to market and get the price of food items.
One week is 7 days. Only 7 days! No where in Nigeria is food items that expensive. Something is definitely wrong somewhere. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by femi4: 3:10pm On Sep 20, 2021 |
Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..
- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.
Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)
Total = N395,200
Savings - 7,800
How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.
He's very foolish spending above N1m on rent yearly. That's not frugal spending |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by COMPAQ(m): 3:10pm On Sep 20, 2021 |
Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..
- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.
Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)
Total = N395,200
Savings - 7,800
How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.
It's not a bad salary in the context of what people earn in Nigeria, but it's not a particularly good salary either. A good salary would be N800k - N1mln. 1 Like |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Nobody: 3:11pm On Sep 20, 2021 |
Two bottles of beer josdiv:
It is funny that most of the posters here don't know that they spend like the OP in their own way.
Just take one or two months and keep a diligent track of your income and expenses and you will be surprised at your spending habits.
It is easier said that done. That does not mean the OP need not adjust his lifestyle. Earning more salary will not change this pattern it would only expand it after a short time. 1 Like 1 Share |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by kingemaker(m): 3:12pm On Sep 20, 2021 |
damosky12:
Many in the USA and other developed countries earn just around that. Check the stats. Many Americans have to take night jobs and several side hustles but still earn less than 2k dollars. Mind the fact that a reasonable portion of those earning go to tax
Not to talk of developing countries... Anyone earning 1k dollars in most parts of Africa or Asia is considered rich.
The point is that your 2k dollar benchmark is just quixotic. Many families live fine in Nigeria on 100k or less. Some families live on less than 50k and they are just ok.
Let's be modest and humble with our estimations. It will help. If you earn big, know that some people earn small and are fine. Nothing like "ideal" when it comes to earning... Father, Mother and 2kids live fine on 100k? Oh please, I rest my case at this point. 1 Like 1 Share |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by OKOATA(m): 3:12pm On Sep 20, 2021 |
Olayetan:
Do you have idea how much they rent mini flat in ikeja, magodo, yaba, gbagada n surulere..
The developed parts in those area cost fortune to rent mini flat.
It doesn't mean only lekki n ajah Has expensive apartments You are very right bro. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by damosky12(m): 3:12pm On Sep 20, 2021 |
ManLikeB:
Abeg delete that being ok with less than 50k part In Abj currently that is poverty!!! thank you
Speak for yourself... You think everyone you see around you have the luxury of buying data? |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Nobody: 3:14pm On Sep 20, 2021 |
Resurgent2016:
Where do you want to see 250k flat in lagos? Except its ikorodu or badagry. 400k will just get by in this economy for a family or some single guys.
If you work in an industry where alot of emphasis is placed on carriage, dressing and knowledge e.g consultancy, thise expenses are quite valid except may be dstv of 9500 Some people will just be analyzing up and down. Give them the same income they will do worse 3 Likes |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by damosky12(m): 3:15pm On Sep 20, 2021 |
kingemaker:
Father, Mother and 2kids live fine on 100k? Oh please, I rest my case at this point. Again, life doesn't revolve around your reality. There are other realities outside yours... There's a cloth for every size. Let's just be thankful! Not many people would be comfortable with your point sef. 
|
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Nobody: 3:16pm On Sep 20, 2021 |
justscorchone:
What kind of investments do you place your money? Please try and put your city, and 5k a month for cloth please Na half clothe |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by bukatyne(f): 3:17pm On Sep 20, 2021 |
|
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by bukatyne(f): 3:22pm On Sep 20, 2021 |
Klass99:
Alaye, there's nothing frugal about these expenses 
Why is your savings not automated? As in, a huge chunk of your money should be automatically taken out each month and put in a savings or investment account with Cowrywise or Piggyvest.
Please remain single until you have mastered your finances, otherwise premium depression awaits you. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by 989900: 3:23pm On Sep 20, 2021 |
damosky12:
Again, life doesn't revolve around your reality. There are other realities outside yours... There's a cloth for every size.
Let's just be thankful!
Not many people would be comfortable with your point sef.
Oga, 4 people can survive on 100K -- even less, but there is no way 4 people would "live fine" on 100K.
Probably, we should listen to your definition of "living fine", first. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by kingemaker(m): 3:23pm On Sep 20, 2021 |
damosky12:
Again, life doesn't revolve around your reality. There are other realities outside yours... There's a cloth for every size.
Let's just be thankful!
Not many people would be comfortable with your point sef.
I understand you point quite well. Any family can always cut their cost according to their income. However, this income level will never and can never provide the minimum quality of needs required for them to live fine. They can't have proper nutrition, health care, accommodation, education, clothing etc. The poverty level is even bound to increase as there will be little or no savings. Zero savings leads to zero investments which eventually mounts more pressure on the little disposable income. The vicious cycle continues... That's the point i'm trying to make here. 2 Likes 1 Share |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Newboss(m): 3:26pm On Sep 20, 2021 |
crestedaguiyi:
Do you eat at home or you just drop whatever you like and tell wify to manage or add to it while you go out there to eat well cooked food.
A loaf of bread is 550 naira. A family of 5 will manage 1 every morning, that's our 3k from the 25k weekly feeding. What about milk and chocolate for tea. WhaT is left after deducting arround 5k for breakfast weekly.
Try to be real in your response Here is a simple trick I use: If you were to be earning 100k a month, with two kids, a maid and free accommodation, would you be spending 25k on feeding expenses every week? If no, would your family be malnourished? Always go way below your income when planning. If you do that you'd end optimising your spendings (not too high and not too low). You don't have a house yet, hence you're one phone call and a year away from being homeless. Someone in your condition has no business with spending 25k a month on feeding expenses. I'm being frank with you. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by bukatyne(f): 3:29pm On Sep 20, 2021 |
Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..
- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.
Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)
Total = N395,200
Savings - 7,800
How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.
What is a bachelor doing with two bedroom flat? If he is at work all day, why is he spending N30k on fuel at home? If he is working from home, why is he spending N50k on car fuel in a month? What kind of care consumes N50k fuel in a month? I am also assuming he spent N1m to rent a flat close to work. Why is he paying that much in rent, has no light and still have to send so much on car? Food: N2,500 everyday? You friend can't make eba and buy soup from online vendors? Or he can't open YouTube and learn to cook basic meals? Or he can't buy garri and provisions at home and take once in a while? N16k for calls per month? Who is he talking to? If his job requires that much calls, they would provide phone credit allowance for him. Your friend needs to learn financial management asap; he is living way above his means. 6 Likes |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by NikAustine: 3:29pm On Sep 20, 2021 |
crestedaguiyi:
E no reach anything o except its net of paye and pension
You go just dey ok but you no go fit build better 4 bedroom duplex in 5 years if that's your only source except you never marry.
Food alone will take 100k at 25k per week for you wify and 2 kids
for lag ba? Cause if you enter alot of places for abj...a saving of 150k money for the next 12 months is enough to carry your house reach one small level.. if youre judicious.. in 3-4 years you don't finish that house except maybe you want build house where people with 10 million salary dey build Sha... Why I said this is that r Ight here in Abuja.. our mechanic is building on house( Generator mechanic o)... Give and take within 5-7 years him go don finish m with just making less than 2-5k a day... minusing small small money him dey give him boys.. and no be every day market dey day.. some days Dem fit no repair gen self. Oga that guy with 400k monthly salary is extravagant jor....make him cut coat according to size. By the way no go dey think say the area I say the man dey build him house na them maitama, asokoro or whatever.. Na for bhyzhin for Abuja..anyways na across and the area is developing fast ....I dey plan self build my own there too.... Though road no to dey good but nevertheless e go save house rent money etx 1 Like |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by grandstar(m): 3:31pm On Sep 20, 2021 |
He's overspending
He needs not spend more than 250k a month, even with a wife and child. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by damosky12(m): 3:31pm On Sep 20, 2021 |
kingemaker:
I understand you point quite well. Any family can always cut their cost according to their income.
However, these income level will never and can never provide the minimum quality of needs required for them to live fine.
They can't have proper nutrition, health care, accommodation, education, clothing etc.
The poverty level is even bound to increase as there will be little or no savings. Zero savings leads to zero investments which eventually mounts more pressure on the little disposable income. The vicious cycle continues...
That's the point i'm trying to make here. Great. There you have it! But you know, what is proper education, nutrition, clothing, etc. to us is "luxury" to others somewhere. People's standards of the good life is often colored by their income. You'll be surprised that heads of families with these kinds of income or less still spend on side chicks. In their eyes, they are living just fine. That's what it is... |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by ArticleBeast: 3:32pm On Sep 20, 2021 |
UncleHaba22:
We that are not even earning UpTo 10k will say yes
But even if you are married with two kids if your wife dont have a sly queen/ gold digger mentally if you earn 400k per month minimum 1year 6month (1 and the half years) you don't have a house of your own
You are not normal
My opinion tho You think to build a house is one naira. 400k is not big in the present nigeria to be honest 1 Like |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by bukatyne(f): 3:37pm On Sep 20, 2021 |
chatinent:
Don't act like you aren't from Nigeria. Of course, you can see a two-bedroom flat for that amount. It mustn't be in VI. You think two bedroom in V/I is N1m? OP must be living in Yaba, Ajah, Surulere axis. Housing is very expensive in Lagos that's why I am wondering what a bachelor is doing with two bedroom flat. 1 Like 1 Share |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by winterlover: 3:37pm On Sep 20, 2021 |
tensazangetsu20:
Your company is really cheating you. I know java developer interns earning earning 800k to a million a month. Not experienced Devs o interns. Gosh that's very low and you are married. How are you coping? Boss, it's not easy. I just have to survive on anything that comes my way. It's been rough. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by NikAustine: 3:39pm On Sep 20, 2021 |
karkinase:
I just they laugh them..only ppl who earn that much will give perfect answers as what the OP is saying...his lifestyle to me is not extravagant, things are just more expensive.
Oga people with families are living on 100k a month and they are doing well.. some self go don plan their own building... It just depends... E no better ma dey pay 250k( as bachelor) for towns like kubwa, bhyzhin etc and save the other one for others stuffs? You can even save 50k for the next 6 months u don your rent.. put 100k on investments...put 80k on food monthly...na only him dey.... Him no get time for dstv but lets put that on 10k monthly.. ... Healthcare etc won't also take more than 50k monthly( well if you no be sickler).. Fuelling and maintenance of car not more than 70k. Join all this together...I'm not sure change no go remain from that 400k monthly. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Masterace(m): 3:39pm On Sep 20, 2021 |
please this inverter you are talking about, is it still the same price now? and how many appliance can it carry Romanoff:
For one person.
This person is living a large life.
A family of two feeds on 50k per month conveniently.
His feeding bill is off the roof.
He needs to cut down on data and airtime usage.
He needs to get an inverter, with 250k, he can get one that will serve him well for a long period of time. I've used mine for over a year without servicing, I only replaced the water.
He needs to cut down on his hangout expenses.
If he's a commuter that goes from work to house, his fueling bill will reduce. |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by bukatyne(f): 3:40pm On Sep 20, 2021 |
|
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by tensazangetsu20(m): 3:40pm On Sep 20, 2021 |
winterlover:
Boss, it's not easy. I just have to survive on anything that comes my way. It's been rough. Start looking for another job asap. That is a very terrible salary. 1 Like |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by crestedaguiyi: 3:40pm On Sep 20, 2021 |
Most of you on this thread have succeeded in making me feel my wife is not prudent or is not telling me the truth about feeding expenses.
I will not let his thread make me start a conversation that might not end in my favour.
I don sign out from here.
Una weldon |
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by Klass99(f): 3:43pm On Sep 20, 2021 |
|
| Re: Is N400,000 A Bad Salary In Today's Nigeria? Is He Doing Something Wrong by AgentGoat: 3:46pm On Sep 20, 2021 |
Esseite:
Someone earns about 400k monthly which is suppose to be a very good salary, but his expenses despite frugal is not cutting it.. he has been advised on marriage countless times, but he does not just know how to support such. He tries to make people see reason as to why the "big boy tag" does not fit because he cant see it at all..
- his job prevents me from cooking and he really does not know how to cook either, really really bad at cooking.
- he stays in an apartment of 1m/annum, which is somewhat not luxury I think.
Rent - 84,000 monthly (average 2 bed)
Security - 5,000 monthly
Estate security - 3,000 monthly
Cleaner - 5,000 monthly
Dstv - 9,500 monthly
Auto Fueling - 50,000 monthly
Auto servicing - 7,000 (3mths projection)
Auto miscellenous/charges - 10,000 (tolls,pr)
Generator fuel/service - 30,000 monthly
Laundry - 10,000 monthly
Feeding - 77,500 (2,500/day)
Hangout/chills/network - 30,000 (7,500/week)
Clothing/wears/accessories - 10,000 (monthly)
Electricity bill - 10,000(monthly)
Gifts - 10,000(monthly- No wife/No GF)
Home maintenance/personal care- 10,000 (monthly)
Healthcare miscellenous - 5,000 (monthly)
Internet data - 10,000 (monthly)
Recharge card - 16,000 monthly (500 daily)
Total = N395,200
Savings - 7,800
How in the world would he explain to people that he does not have. He is an introverted character and a very frugal in finances. He didnt not factor in furnishing et all.. he has no school fees and multiple mouths to feed.
The modafuvka should start living in a 300k/annum housing. |
