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Nairaland Forum / Nairaland / General / Romance / How Would You Spend Naira Per Month? (1291 Views)
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How Would You Spend Naira Per Month? by ImperialCovfefe: 12:28am On Jan 05 |
Hey guys, Assume you are earning in Nigeria as supplementary income for the foreseeable future. How would you realistically go about spending it? I am curious to know your opinions, and all opinions are welcome. 1 Like |
Re: How Would You Spend Naira Per Month? by 1TrippleCee: 12:45am On Jan 05 |
New projects each month |
Re: How Would You Spend Naira Per Month? by pansophist(m): 12:54am On Jan 05 |
You mean the 4M must finish abi? Haa, this is easy na. I will rent some of the most expensive apartment in airbnb and live there permanently. Then rent a luxury car and just live the cityboy lifestyle. Cook ke? I will eat out everyday, from Japanese to Chinese, and Korean. I tell you, that money is small. I will finish it in a week, and I wont even buy any gadget. Just pure, organic flexing. 9 Likes |
Re: How Would You Spend Naira Per Month? by ImperialCovfefe: 1:56am On Jan 05 |
pansophist: Agba baller . Make sense. I am guessing this flexing will be on weekends, only? If you are not on leave/vacation, you might be hard-pressed to get the time. |
Re: How Would You Spend Naira Per Month? by CoronaVirusPro: 2:51am On Jan 05 |
Buy Etherium and continue life like nothing happened 1 Like |
Re: How Would You Spend Naira Per Month? by Aaaaarghmed(m): 3:54am On Jan 05 |
I cant spend 4m in a month,I am an Accountant by profession. I will pump 3.5m into my building project.Na 2024 we dey.this is investment year.we don buga tire for this life 2 Likes |
Re: How Would You Spend Naira Per Month? by ImperialCovfefe: 4:07am On Jan 05 |
CoronaVirusPro:Interesting perspective. So, you would keep accumulating ETH every month? What about volatility? Can you stomach a 50% drawdown? |
Re: How Would You Spend Naira Per Month? by matify83: 4:09am On Jan 05 |
Invest! Invest!! Invest!!! No be my mates get billions for "accant"? 2 Likes |
Re: How Would You Spend Naira Per Month? by ImperialCovfefe: 4:10am On Jan 05 |
matify83:Sabi man. However, we need more details. How would you go about structuring the monthly investments? |
Re: How Would You Spend Naira Per Month? by CoronaVirusPro: 4:12am On Jan 05 |
ImperialCovfefe: The play is all about patience. Nothing more. |
Re: How Would You Spend Naira Per Month? by matify83: 4:20am On Jan 05 |
ImperialCovfefe: I currently use a 40:60 needs to savings ratio. With enough savings at the hypothetical 4m/month, I will seek the services of a financial / investment expert for guidance on investment portfolios. However, I hear treasury bonds are good. The stock market is too volatile for my liking. I don't know if we have an equivalent of the S&P 500 in the NGX, I would prefer it to single stocks. Real estate is capital intensive but a REIT would be preferred if available. Forex, drop shipping, commodities, and crypto are a no no for me. Buffet; don't invest in what you can not understand 2 Likes |
Re: How Would You Spend Naira Per Month? by successnwa(f): 5:10am On Jan 05 |
Give me a minute |
Re: How Would You Spend Naira Per Month? by efficiencie(m): 5:33am On Jan 05 |
ImperialCovfefe: Tithe: 400,000 Upkeep: 100,000 Charity: 300,000 Real estate investment (land): 2,000,000 Speculative investment (convert to dollars): 1,200,000 Shikena! |
Re: How Would You Spend Naira Per Month? by webincomeplus(m): 5:45am On Jan 05 |
efficiencie:You're not being realistic with that upkeep, bro. It's almost impossible to be on such amount as monthly income and be able to keep your everyday expenses pegged at 100k. With that income, you'll feel the need to drive your own car. If you're not careful, 100k won't cover your monthly cost of fuel alone. 2 Likes |
Re: How Would You Spend Naira Per Month? by madscientist88(m): 6:04am On Jan 05 |
i would sit down and think of the best idea of an app to create then i will spend money developing it. creating an app is the easiest way to become extremely wealthy,what would you create?how important and easy is it for people to use?how affordable is it?good thing is your app can be launched in USA while you are in Nigeria and you would still be cashing out. 1 Like |
Re: How Would You Spend Naira Per Month? by Gadafii: 7:39am On Jan 05 |
I a already surviving before the arrival of the 4 million naira My lifestyle will adjust a bit, but right now, I know better than to waste money on frivolous ventures, so I will commit 3million to capital projects, set my sister up, my mom already living in her house, commit 100k to her feeding and monthly upkeep Wishing a year or two I would have established investments that will yield close to 4 million monthly income However if you desire to spend yours in bitchess and boozes, so be it |
Re: How Would You Spend Naira Per Month? by dammybrite: 8:30am On Jan 05 |
Ultimate ratio depends on you. Up to 70% should go to investment ceteris Paribas. Bonds(30), dividend-paying stocks(especially FUGAZ)(30) and real estate(10) should be the focus. You may use cash flow from the first two to sustain and improve the latter. ImperialCovfefe: |
Re: How Would You Spend Naira Per Month? by Sonnobax15(m): 8:34am On Jan 05 |
4m ke? First of all,that money must chill inside fridge for like 1 week first.. And during that period,I go just dey think about how to invest am on something wey go dey productive las las 1 Like |
Re: How Would You Spend Naira Per Month? by efficiencie(m): 9:25am On Jan 05 |
webincomeplus: With the kind of work I do, I can keep my expenses to 100k. I don't have or need a car so basically all my expenses go into "upkeep". Nevertheless to make my response more general one could make reallocations from some other items to upkeep. 1 Like |
Re: How Would You Spend Naira Per Month? by Breadistaken(m): 12:10pm On Jan 05 |
ImperialCovfefe:if I earned 4mili per month I will spend less than 50k a month |
Re: How Would You Spend Naira Per Month? by Offpoint1: 12:17pm On Jan 05 |
In all honesty, I go use that 4m chop suya and garri every month. |
Re: How Would You Spend Naira Per Month? by PinkNature(m): 1:30pm On Jan 05 |
ImperialCovfefe: Tell us you bagged a 4m/month salary without actually telling us. |
Re: How Would You Spend Naira Per Month? by ImperialCovfefe: 2:04pm On Jan 05 |
PinkNature:That’s a bit low for salary, though. The post was about supplementary income |
Re: How Would You Spend Naira Per Month? by PARADIZEPRIEST: 2:51pm On Jan 05 |
I keep buying arable lands and fence them round. Next month I plant maize, continuously. Before each year ends, maize is abundant for export to benin,togo,cameron viola,I become known as maize tycoon. 1 Like |
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