Calibrator:
I really should level up a little... Just realised that my rent is just 3% of my estimated minimum yearly income... No wonder I have too much disposable income to lavish on things Nigerians consider as luxuries


Bachelorhood is bliss if you have a sustainable income and live within your means.

You're correct on that.

IyaTola:
My yealy rent is about 22% of my annual income. I live in a 2 bedroom apartment in Alimosho LGA, Lagos. The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them. Living below your means is possible sometimes but the pressure is high & I wasn't "really comfortable" either. All depends on you & your goals.

Nigeria will humble you..the cheap house you're looking for does not have vacancy in the location where you work, now what do you do? and even the pay for the job can't meet your needs 50%..the system is happening to all of us, that's just the truth.. how many jobs pay over 100k today

“ The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them…”. Yet you live among them and want to be a landlord in an area with people wey no be your level.

Bros that your packaging no balance to me na.

So what is wrong in roasting plantain and hawking oranges, we need to change this " employee' mindset as much as we can that's the new reality, graduates are now being paid 30k or less a month so how 60k a year house go be?..,get my point I'm not saying people should not be employed or if people choose to remain in employment for the rest of their life, I'm only questioning the logic of it and if I had gone by this logic I won't be where I am today..

omonnakoda:
Reality

Most people will be employees for the rest of their lives

well over 80% of the population

No matter your ideals as an individual the reality of the population is what it is
Most people cannot be entrepreneurs unless we include those roasting Plantain and hawking oranges
Your biography is interesting but is not reality or realistic for most people

Yankiss:
The second option is far better. With a 100k salary, and house annual rent of 150k, monthly rent comes to 150/12= 12.5k, daily transport =2k, monthly =50k total expenses on rent & transport =12.5+50=62.5k. Balance from salary = 100-62.5=37.5k, NOTE I used 50k instead of 52k as that gives us 25 days, same as in the 2nd option which was calculated for 15000/600= 25 days. For Option 2, monthly expense from rent = 300/12=25k, transport monthly =15k total =40k, 100k less rent & transport= 60k. So, with the extreme rent of 300k per annum, it's much better in 2nd option. You would be saving 22.5k monthly. Quod erat demonstrandum

You forgot to add the cost of living. The cost of living will surely be more expensive at option 2, compared to option 1.

The only benefit option 2 truly offers at the opportunity for growth.

SmartyPants:


But that was exactly my point. It was lifted without any clear rhyme or reason.

Why exactly should anyone listen to this person's opinion? No reasoning, just a blanket statement that the OP cannot justify because they merely lifted it from someone else.

It's true, this can only work in some locations. For instance, my yearly rent is 9.61% of my annual income (tp of 100-140max daily) because I live in Kaduna.

pinkasso:
So what is wrong in roasting plantain and hawking oranges, we need to change this " employee' mindset as much as we can that's the new reality, graduates are now being paid 30k or less a month so how 60k a year house go be?..,get my point I'm not saying people should not be employed or if people choose to remain in employment for the rest of their life, I'm only questioning the logic of it and if I had gone by this logic I won't be where I am today..

Nothing wrong with roasting plantain if it generates good income
Most people doing it are poor and are not business role models

You seem to live in a world or theory and fantasy not the real Nigeria

I am talking reality as it is today


Not theory how it should be

How many people can rent a 4 bedroom house roasting plantain?

Whatever you think you need to change is just cheap talk

Reality is different for most Nigerians

clockwisereport:


You got it wrong

150k + (12×52k) = 774k
300k +(12×15k) = 480k

The person that paid 300k as rent is the one that saved more money

Right �

IyaTola:
My yealy rent is about 22% of my annual income. I live in a 2 bedroom apartment in Alimosho LGA, Lagos. The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them. Living below your means is possible sometimes but the pressure is high & I wasn't "really comfortable" either. All depends on you & your goals.

Nigeria will humble you..the cheap house you're looking for does not have vacancy in the location where you work, now what do you do? and even the pay for the job can't meet your needs 50%..the system is happening to all of us, that's just the truth.. how many jobs pay over 100k today

[/b]All the other tenants knows, you don't belong among them[b], like seriously?

If you don't have, you don't have!! all this one you are saying is trash. All other people, or rather people you feel they think, you don't belong among them don't care. You don't just earn much to live a comfortable life. It's simple, which one is people you live among, knows you don't belong among them ..

Oyindamolah:
Your annual rent shouldn't exceed your two months salary. If it does, you're in the wrong apartment.

Definitely not for those living in abuja and lagos.

I know a lady, that works as a merchandiser in Shoprite, but lives in a one bedroom flat in surulere of about 500k. Per year.

Miraculously, i guess.

SmartyPants:


That's not realistic unless you earn very well and live far beneath you rmeans.

But why do that to yourself? Home is where you spend the vast majority of your time so realistically, you should spend on rent, an amount you can afford to save up within a few months. Knowing how most people struggle to save, I would suggest a maximum of 3 months.

The real issue is that in Nigeria landlords collect rent for a full year, which is unfair and should be done away with. The global standard is monthly rent payment, obviously, because people don't get paid annually, but monthly.

It's possible bro.. My monthly income is little above 200k per month and my rent is 150k per year.. pls note that my house is 5mins walk to where I do business..

This logic doesn't make any sense because as you said " reality is different for most Nigerians"...no matter how little we earn we should all look at the bigger picture in life , in my first job I was being paid =N=6,800 a month .e shock you?, my rent and light bill was half of that, so as you can see this logic will keep you stuck in a false reality for the rest of your life.

omonnakoda:
Nothing wrong with roasting plantain if it generates good income
Most people doing it are poor and are not business role models

You seem to live in a world or theory and fantasy not the real Nigeria

I am talking reality as it is today


Not theory how it should be

How many people can rent a 4 bedroom house roasting plantain?

Whatever you think you need to change is just cheap talk

Reality is different for most Nigerians

pinkasso:
This logic doesn't make any sense because as you said " reality is different for most Nigerians"...no matter how little we earn we should all look at the bigger picture in life , in my first job I was being paid =N=6,800 a month .e shock you?, my rent and light bill was half of that, so as you can see this logic will keep you stuck in a false reality for the rest of your life.

You seem determined to tell us about yourself

Nigeria has 200 million people and their reality is DESPERATE

Not all this rubbish you are typing here

I do not know what people should do
THEORY

I know what they do

REALITY

Stop talking about what is not going to happen anytime soon and talk about what is happening right now

Oyindamolah:
Your annual rent shouldn't exceed your two months salary. If it does, you're in the wrong apartment.

Wrong apartment how?
Please shed more light on this.

sukkot:
dayummmmmmmmmmmmmmmmmmm angelicbeing cum chee chumtin ooooo

That must likely be a Mud or Refurbished Colonial House

You keep shouting the "REALITY" so what's the reality?

omonnakoda:
You seem determined to tell us about yourself

Nigeria has 200 million people and their reality is DESPERATE

Not all this rubbish you are typing here

I do not know what people should do
THEORY

I know what they do

REALITY

Stop talking about what is not going to happen anytime soon and talk about what is happening right now

litigator:


You forgot to add the cost of living. The cost of living will surely be more expensive at option 2, compared to option 1.

The only benefit option 2 truly offers at the opportunity for growth.

Ok. But further indices for comparison were not provided. So, we can't empirically or mathematically arrive at any conclusion. I only gave advice based on the two indices provided. Whether living cost will be significant enough at 2 to wipe out the gains over 1 and even incur further costs is indeterminate.

pinkasso:
You keep shouting the "REALITY" so what's the reality?

Reality
Is that people do not

TODAY

have the mindset you are preaching

Most Nigerians

are NOT entrepreneurs

So that is what you think SHOULD BE

Not what

IS

Your whole spill is

I am great look at me evertbody should be like me

Well reality is evertbody is not like you

My salary is 500k, my annual rent is 180k. No much expenses plus I get free fuel from my company/ other salivating benefits.

Life is kinda soft.


Funny enough I was unemployed some months ago.
God over everything. #mytestimony

My apartment is a shared Mini flat in festac Lagos... A 32 block of Flat in festac..

Oyindamolah:
Your annual rent shouldn't exceed your two months salary. If it does, you're in the wrong apartment.

/

Na Oyibo financial guru made that statement. But expectedly, Nigerians will quote and try to apply a formula that has nothing to do with them or their situations.

/

Ooh so I see were you are getting everything mixed up,..we are on the same page, as the topic is biased towards those currently in employment and those seeking to remain in employment, besides the reality of today is that people are grossly underpaid, so many newly employed graduates cannot even rent a face me I face you in cities like Lagos and any attempt to do this might almost eat up large chunk of their salary, so is the op suggesting that people should not work? remain homeless on the street? and for those that are willing to take the risk start up something with the little they have?...these are my questions?.. nobody will allow you quart with them unlike before due to the high cost of feeding, so what should people do if they earn less amount of money?..
but for anything this topic is trying to downplay the effort of young Nigerians trying to be independent out there..it's demeaning to say the least.

omonnakoda:
Reality
Is that people do not

TODAY

have the mindset you are preaching

Most Nigerians

are NOT entrepreneurs

So that is what you think SHOULD BE

Not what

IS

ProfessorAlex:

Na the Ikpa Road I dey like this, immediately I get my degree this year, I'm permanently relocating to Abuja where my family is and my dad owns a house and land. I think I'll serve there too.

Are you a Tuskite?

pinkasso:
Ooh so I see were you are getting everything mixed up,..we are on the same page, as the topic is biased towards those currently in employment and those seeking to remain in employment, besides the reality of today is that people are grossly underpaid, so many newly employed graduates cannot even rent a face me I face you in cities like Lagos and any attempt to do this might almost eat up large chunk of their salary, so is the op suggesting that people should not work? remain homeless on the street? and for those that are willing to take the risk start up something with the little they have?...these are my questions?.. nobody will allow you quart with them unlike before due to the high cost of feeding, so what should people do if they earn less amount of money?..
but for anything this topic is trying to downplay the effort of young Nigerians trying to be independent out there..it's demeaning to say the least.

If anyone is getting things mixed up it is you
You are the one with an ego trying to make it about you and how great you are

Well Not everyone is as great as you and not everyone wants what you think they should want

Reality is most people in this world will be employees not just Nigeria

THAT IS REALITY

Starting a business /becoming an entrepreneur is unrealistic for most people . Reality not theory.
It has no immediate bearing on the problem at hand for 99.9999% of the population

It is just laptop talk

Positivepoint:



150k+52k=202k
300k+15k=315k

Difference 315k-202k=113k

Lol...you didn't grab it... he's talking about the transportation...for the one of rent 150k...you will spend approximately 624k a year... while for the rent of 250k ...you will spend 180k a year...so which is better

It's not about ego, I responded to the topic .,I had to role play and use myself as an example...the truth is that you are trying to force me to see this your reality and I just can't, anyways let's leave this argument and back to the topic do you agree with the topic?

omonnakoda:
If anyone is getting things mixed up it is you
You are the one with an ego trying to make it about you and how great you are

Well Not everyone is as great as you and not everyone wants what you think they should want

Reality is most people in this world will be employees not just Nigeria

THAT IS REALITY

Starting a business /becoming an entrepreneur is unrealistic for most people . Reality not theory.
It has no immediate bearing on the problem at hand for 99.9999% of the population

It is just laptop talk

Murketeer:

Lol...you didn't grab it... he's talking about the transportation...for the one of rent 150k...you will spend approximately 624k a year... while for the rent of 250k ...you will spend 180k a year...so which is better

Yes you are right �

AmehHAS:


Please where on the mainland can I get this, is it a mini flat or self con

Ikorodu but I dont think you can get it now. The reason is that those who rented apartment 2 to 3years pay less than those who are looking for house to rent. I'm paying 250k annually in an estate.

sonnie10:

All those things you mentioned cannot be more than £1500
Now add that to £1800 you have £3300. total monthly expenses.
€1200 is still left. Is that not good savings for a single person?
Imagine if you have a wife who is equally working and making the same.
It means your total household saving could be up to €3000 a month,

oh nice thanks for the breakdown

dettolgel:


Well if you have a partner that works that half the bills for you. That is one of the reason oyibo always live with their boyfriend or girlfriend

oh nice thanks for the breakdown

ednut1:
All these useless standards. Then you spend 4 hours in traffic, sleep deprived, slowly kill your mental and physical health etc. abeg make una rest

It's not a useless standard.
It's actually an ideal principle to follow.
How can you receive 50k for instance as ur monthly salary and you are paying annual rents of 250k.
This translate to about 21k per month.
Then can de remaining 29k take care of NEPA bill, cable subscription,data subscription n recharge card,water, transportation, cosmetics, clothing and food?
Even if such a house is just a trekable distance to ur place of work,can de remaining 29k take care of all the needs I listed above minus TP?

What the OP is trying to warn against is, don't leave above ur income.

pinkasso:
It's not about ego, I responded to the topic .,I had to role play and use myself as an example...the truth is that you are trying to force me to see this your reality and I just can't, anyways let's leave this argument and back to the topic do you agree with the topic?

I am not trying to force you to do anything
You can do what you like

It is not my reality

Life is a pyramid

Everybody cannot be an entrepreneur and in Nigeria the odds are heavily against it

That is why our people japa all the time

Trying to tell us
Look at me I quit my job blablabla

is pure egotism with very little empathy for the agony that is the reality of out people

The kind of thing one expects from an autistic person with ZERO EMPATHY

No one wants to sell Gala in traffic

Na condition make crayfish bend