400k Salary, but nothing. - Career (8)

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400k Salary, but nothing. - Career (8) - Nairaland

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Re: 400k Salary, but nothing. by yesloaded: 7:11am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

You need to take a pen and paper and map out scale of preference so you can cut down on some expenses

Hope your house rent is not more than 2months or your salaries

400k sounds huge but economy is not smiling

If you owns a car (which I think you do) then you should know thats part of what swallow your money because I personally spent 100k or more on fuelling my car every month and if I earn 400k it means 25% of my earnings is gone to fuel

1 Like

Re: 400k Salary, but nothing. by dfrost: 7:13am On Jan 11

ppogba:

The same book, my wife came into my home with it after we married. I did not read it.
Over 15 years later, I read it and came to the conclusion that, it could have changed my life in more wonderful ways if I had read it earlier.
Your suggestion is good but trust me, Nigerians do not read.

Does one even need to read 📚 a book 📖 to know the truth? The Holy Books have everything we need, but like you said, Nigerians don't read.

For me that's financial recklessness to start with. 400k with no savings? Net for that matter ooh? 🙄🥴

Re: 400k Salary, but nothing. by Clinghton: 7:14am On Jan 11

With that kind of money I would economize and invest into what would make me rich, like buying land building and renting it out.

1 Like

Re: 400k Salary, but nothing. by johnog4sure: 7:37am On Jan 11

AchrafHakimi:

Why else?

hehehehe hilarious, you will know better later, no point arguing

Re: 400k Salary, but nothing. by lawrenzoo: 7:39am On Jan 11

Even if you earn 1 million naira, you may not have savings if you do not have self determination or disciplined, and you may not be able to achieve any savings goals if you are not forceful or intentional about it. First, Assume that you earn 200k, people earn 150k and still live with 4 children. After assuming you earn 200k, you need to engage services of some of these trusted company that will deduct your savings immediately your salary lands in your account, and then remit it back at the end of the year. Do this and then thank me later. Lastly, grow your income.

1 Like

Re: 400k Salary, but nothing. by Gerard28: 7:39am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

My brother, me and you dey the same boat o. I earn almost 350k monthly and I no get one single savings, instead na debt upon debt I dey. Although I'm not married. But I don't live lavish neither do I spend money on people recklessly. I don't even tithe, although I know I have a heart to help whenever one or two people come up to me for financial assistance but it's never even much. I know betting also had it's fair share. The thing has really bothered me at times I feel I've failed. And the worst part is that I see people earning lesser and doing a lot with their savings. It makes me wonder what is wrong with my life.

1 Like

Re: 400k Salary, but nothing. by Blackwale(m): 7:41am On Jan 11

[quote author=Duyt1798 post=127879554]Hi guys!

Hi guys I’m presently running my masters in Nigeria studying economics, my plan is to move to the US or Australia after Graduation, please is there anyone in the US who has any experience about my line of course ? And the job prospects, I’m also a junior data analyst, excel , power Bi , sql , and also learning python for data analysis, I also have a knowledge of Eviews, and stata. Thank you
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Re: 400k Salary, but nothing. by folake4u(f): 8:04am On Jan 11

Gerrard59:

Ta! He would not have an erection again. He would not produce semen. He would not be a man. He would not produce the testosterone hormone again. And many more.

Our people think it is fun to have children. They forget these children have to be raised for at least 25 years using the Nigerian system. For the next 25 years, they are spending on three people to be responsible human beings. I don't know why they think having children is fun. The koko is in raising children.

After two like this, I don lock up! I did not come into this world to raise children. In fact, I look forward to creating a thread of my vasectomy experience when the time comes.

Hahahaha. Nor be only. grin

It is easy to birth kids BUT not easy raising children that will grow to become responsible individuals in the society. One has to be constantly provide for their physical, mental and financial needs till they reach some kind of financial stability.

I cringe when I see poor people in this modern day birthing 4-5 kids in this failing economy and they often wonder why they can't save for the rainy day. undecided

1 Like 1 Share

Re: 400k Salary, but nothing. by bong4(m): 8:12am On Jan 11

MajorOvakporaye:
You are just extravagant. There are many people receiving far less than you but they coordinate pass you sef

Someone recognize his flaws and came seeking for advice. Instead of giving him one (that is,if you have), you are pouring invectives on him.

He deserves a second chance.

Re: 400k Salary, but nothing. by YourGFsnatcher: 8:19am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

Probably you need to cut your appetite On spending. There are things that we spend money on not because we need them but just because we can afford them looking at our large income.

For example, we tend to enrol our children in schools with humongous school fees. Most of the services these schools render that takes the largest chunk of the money is not educational. They go on expensive excursions, they eat exuberant foods, they participate in activities that aren't necessary just to prove a point. These schools just force children to be adults when they are actually children.. there's nothing gainful about a child forced to think like an adult, when he has the right education at the right time he will still do better. I remember in my secondary school, some of my mates don't have a holiday, they are always having extra classes and doing this and that, spending money... but all the terms na me dey carry overall best student and I never enrolled for Any extra lessons. My dad hated extra lessons, he said there's a reason why white men call it holiday or rest time grin

I love that guy.. and I represented my state on several levels of competition without stress.

School is just one. What about your feeding? It's not everything u must eat chicken or beef or turkey. Yes u can afford it. As a matter of fact you don't need it all the time even if u can afford it... for your health benefits.. but becusss the money is there...the temptation to buy these things is huge.

Check your clothings too, I know our race love brands. I mean u are earning 400k, if you don't have designer cloths even people in ur office will be looking at you somehow... but it's not evrytime that u must wear exuberant designer cloths and shoes. Some months just buy a neat 5k shirt and u will still appear dope.

Do you keep pets? How many do u have? If u don't have then its great. But if u do..u know how much they consumes.

Hooe u don't stay in a too big house paying expensive rent u don't need? If its your house Hope u are not spending excess money on maintenence for rooms you are not making use of.

What about your car? In a month alone u can spent 80k on fuel alone minus other repairs. You must not always use your car... sometimes just walk, get a bicycle for going to places around your house and cut cost. Sometime u can even take a taxi like other people.. there's nothing wrong in that.

Lasty, the gifts you give. Hope u are not over giving outside? U chill with friends n u are always the one paying? U shoulder everyone's responsibilities for family and friends and u give too much? Remember people earning 50k also give and they didn't die .. don't go n over do.. because even if u give them 600k it will still not solve all thier problems. Your accordingly pls

You will see that you are not spending in excess... .
Just my small advice though... I don't really know your condition

4 Likes

Re: 400k Salary, but nothing. by dawood5solomon: 8:20am On Jan 11

DD...

Re: 400k Salary, but nothing. by mightyhaze: 8:21am On Jan 11

obailala:
In what kind of world does someone who earns N60k monthly buy a land and build a house? A married man at that... Even if he saves 50% of his salary, how do you build a house with N60k salary?

60k in 2014 is like 600k or more now..

Re: 400k Salary, but nothing. by EJEGBULEJE: 8:23am On Jan 11

OZIOGU1:

My brother check your lifestyle

I am married with four kids, My current net is around that amount, I do adashe (contribution) of 150k monthly, give my wife 80k, set aside another 20k monthly for end of the year celebration, give my kids 5,4,3&2k each from senior to junior, 60k for my fuel for the month, the remaining amount goes for unforeseen circumstances that may arise, mind you I don't smoke, drink, but once a while i hangout with colleagues.

going to work, from my shirt, to trouser, shoes and wristwatch is less than 20k, I dey go bend down select well okrika, na my wife way of changing my wardrobe be that...with all these , I was able to erect a 3bed in 3yrs.

Simple as ABC, once u don't pass ur boundaries, u r good....

Re: 400k Salary, but nothing. by Prince62: 8:40am On Jan 11

You need to cut down expenses firstly buy foodstuffs in bulk, dont drive regularly to work, to save cost of fuel, reduce hang out and unneccesary spending you should more

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

1 Like

Re: 400k Salary, but nothing. by ppogba: 8:44am On Jan 11

dfrost:

Does one even need to read 📚 a book 📖 to know the truth? The Holy Books have everything we need, but like you said, Nigerians don't read.

For me that's financial recklessness to start with. 400k with no savings? Net for that matter ooh? 🙄🥴

Totally agree with you but the truth is, Richest man in Babylon is a game changer.
All you can ever need for financial wisdom is in that book. I disregarded it for over 15 years and can only say, I regretted my action.

Surely, everything is not about books but the message for our friend is, if he is sacked today, he will survive on N100,000 monthly for months before getting another job.

4 Likes

Re: 400k Salary, but nothing. by OZIOGU1: 9:23am On Jan 11

EJEGBULEJE:

Simple as ABC, once u don't pass ur boundaries, u r good....

Best comment ever...know what you want, avoid trying to impress people

2 Likes

Re: 400k Salary, but nothing. by joinnow: 9:24am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

Budget formula to use
50/30/20
50% basic necessities rent,food,cloth, transportation
30% fun and want like vacation etc
20% saving and investment

Or
70/10/10/10
70% basic necessities rent food cloth transportation
10% wants and fun
10% investment and saving
10% tithe or charity

Or
80/10/10
80% basic necessities
10% wants and funs
10% Saving and investment.

Note if your annual house rent is bigger than 30% of your annual salary better lookout for another house to rent that is within the range of 30% of your annual salary.
Eg if your annual rent is bigger than 1.4m move out.
Hope this helps

1 Like

Re: 400k Salary, but nothing. by Adamawaswt(m): 9:31am On Jan 11

Oga firstly check ur expenses from house rent to cost of living .
1: If ur house rent is higher than ur salary per month pls relocate
2:from ur house to work place ..how much
3: is ur wife a supporter or consumer?
4: ur wife love high test above ur standard ?

1 Like

Re: 400k Salary, but nothing. by sirjoggy(m): 9:37am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

Re: 400k Salary, but nothing. by NwaliE01: 9:52am On Jan 11

Let me be sincere with you. Why it's hard for you to save is because you think your needs are more than your earning. If they increase your pay to 600k, I can bet you that you wouldn't still be able to save 200k monthly.
Here's the strategy I used.
I opened Mansard Account with GTB at the time. It's an insurance savings account that had standing order to monthly debit 50k from my account immediately by salary hit my account which was 21st of every month. The bank kept saving this money with interest for me. I saved for 5 years ie N3m + 200+ bank interest (not too sure the exact interest but it's more than 200k)
This money was like a dashed money to me because I was also doing my normal savings.
I thought I would go in debt or have my standard of living lowered, but no.. The reverse happend. I became very financial disciplined to the point I have to define why I am spending every kobo. If I can't justify it, forget it, I wouldn't spend. You will attract all kinds of backlash especially from people that have been benefiting from your reckless expenditure.
So, I was consistent with my savings and never tried to impress anyone. I made sure I budget my expenses as well. I don't spend more than my budget for day/week.
Try this and thank me later.

6 Likes 1 Share

Re: 400k Salary, but nothing. by Obnoxious2001(m): 10:36am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

We can suggest heaven and earth on this thread, but saving is a habit and it requires discipline in the face of Sapa shocked

.

A general rule I use is to save 20% of every income that comes in irrespective of how much (show no mercy) as it land you wipe am go the acct fast...

For your spending, try to structure your spending such that 1 item is kind of multipurpose (this applies to workmen like me whey no no book cheesy

).
This one has nothing to do with food (chop well so you can think we'll)

Place your account on constant debit of a certain amount let's say ₦500 for 365days
(I started using this tactics when I noticed that I spend a lot of money on sub (try and check How much you spend on sub and airtime)

Then finally try to create a budget for all recurring bills and other expenses.But In all try to make extra income it's very paramount.

By the way I attached a saving plan that you can easily follow. While you save, you may need to worry about inflation and other things.

3 Likes

Re: 400k Salary, but nothing. by TheDemola: 10:44am On Jan 11

chrisifeanyi:
The truth is that the money is not enough for a family of 4 expecting the fifth member.
However, careful planning will make you to have good savings.
I earn far less but I have good savings.
Learn to be buying foodstuffs in bulk. By doing that you will be saving a lot. Food stuffs of 200k can last for two months, you will save the next salary and next time you will be restocking, you won't spend up to that amount. Don't put money on things you are not sure of. If you are gambling stop.
With that you can have good savings.

Please do you have children? If yes, how many?

Re: 400k Salary, but nothing. by vickydevoka(m): 10:44am On Jan 11

chiboycue:

Na affiliate marketing I dey do.

Nice. For some one in the UK , how can he start to make money

Re: 400k Salary, but nothing. by kchris007(m): 10:46am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

What you should do is actually have a plan.... A real plan

I used to be in your place so I understand exactly where you are now...

1. Structure your monthly inflow using a budget template.... I suggest you download one from the internet and use
2. Every expense should be entered even if it is 1k... from utility to children school fees to rent... enter it all ---- And yes savings
3. See what remains of your net... Then work backwards and see what you can remove and still be able to sustain your family.
4. Restructure your loans... Try to pay little bits rather than pay whole chunks that leads you to more borrowing.... In other words, get out of that debt in such a way that it doesn't inflict harm on your finance.
5. Be realistic with where you are and set a savings plan.... It may be 100k in this first year... That's okay - it's where you are... Next year, you will do better
6. Find another source of income... a side business. Sell stuff... You don't even have to make the stuff to sell it - Set a target and a goal for this and be very bullish about it...
7. Finally, you can't afford everything... That a watch is 11k and you have it doesn't mean you can afford it... Weigh everything in the light of where you are.

3 Likes

Re: 400k Salary, but nothing. by 2sexy(m): 11:00am On Jan 11

Duyt1798:
Hi guys!

I hope this my post gets to the FP, so I can get insights from a wider audience; even I know some might not make sense, but one thing I've learnt from the short time I joined this platform, is that - sense dey inside nonsense.

Pardon me, my write fit dey a bit lengthy.

I currently work with a multi-national startup coy. My net pay is a bit above 400k naira (this's at the moment), I've worked for about 2 years. I'm married with two kids and expecting the third.

Now my dilemma is that, I've not been able to save up funds, I feel like my living condition doesn't reflect what I earn. Shingbai like this, I no get for account. The last I could remember, I go deep hand for forex, e nearly give me hypertension (I lost about 2m). I still dey pay debt wey I incur as a result.

Now where I need assistance is, looking at the amount I'm earning, how do I spend? Please for those that will be kind enough to give suggestions, let it practically explained, as in help me break am down to the amount wey I suppose spend, how I suppose spend am, and wetin I suppose save.

I believe say many family people dey here wey get better experiences.

Thanks 🙏.

Firstly, is your wife working or it is just you alone doing the work? If she is not working the burden will be too much for you in this current reality as a married man.

You may have to cut your expenses as much as possible, do away with things you can live without that is sucking funds. This will also require you to sit your wife down and let her know that there are certain things that you can't.

I don't know what your role is at the start up sha... but if you are in tech like coding or programming department or even marketing, see if you can also apply for remote roles.

2 Likes

Re: 400k Salary, but nothing. by IbrahimSola: 11:07am On Jan 11

Open a new savings account. Fill a form for Standing Order so that your bank can transfer 100k from your salary account to the savings account. Ensure the Savings account cannot be accessed until after 18 months. You will have N1.8m in that account after a year and 6 months.

Ensure your spending and life revolves around the remaining 300k. What if you were to have a salary cut or lost your job? Would you die?

What if the company should get into a legal tussle that would liquidate the company? Wouldn't you live on? It's better you adjust deliberately. Most times, it's other things that steal the money from you, things that are not mandatory, not necessarily the wife and children.

Tell your wife that the company is cutting wages because of the bad economy, or that the company has compelled everyone to save 30% of their salary. What to tell her depends on your type of wife, whether she likes truth or lies. But since it's for a good reason, tell her the one she likes to hear. But try this approach and see how far you can save each month.

A person earning 400k without saving any each month is worse off than someone who earns 100k and saves 20k each. Food is food, clothes is clothes, rent is rent. At the end, wealth is what you accumulate, and not what you spend.

2 Likes

Re: 400k Salary, but nothing. by lanre316: 11:09am On Jan 11

AchrafHakimi:
Married men are simps walahi that's why women love them. Girls chase married men because they know they are weak, dumb and easily manipulated.

It takes a certain level of fear to make a man give up his life for a woman.

Tufiakwa!!

Let me guess, your father didn't marry your mother. Right?

Re: 400k Salary, but nothing. by Skyehigher1: 11:18am On Jan 11

Guys please try to plan your future with your wife any tangible advise here without the support of your wife is nothing.... Try to save at least 100k monthly have target for your future if you don't have target all the money you collect salary will be in vain .... Though everyone of us brought up from different categories buy your food stuff on monthly basis if you buy food of 100k monthly and 50k for food ingredients and 50 for emergency purpose 100k for your kids school fees and save the rest

2 Likes

Re: 400k Salary, but nothing. by justmondris: 11:18am On Jan 11

chrisifeanyi:
The truth is that the money is not enough for a family of 4 expecting the fifth member.
However, careful planning will make you to have good savings.
I earn far less but I have good savings.
Learn to be buying foodstuffs in bulk. By doing that you will be saving a lot. Food stuffs of 200k can last for two months, you will save the next salary and next time you will be restocking, you won't spend up to that amount. Don't put money on things you are not sure of. If you are gambling stop.
With that you can have good savings.

That money is more than enough for a family of four and he should be able save at least 100K monthly. If you are in Lagos Mile 12 market is the best place to buy food stuff in bulk.

1 Like

Re: 400k Salary, but nothing. by Skyehigher1: 11:25am On Jan 11

But If I were you I would confidently save like 150 to 200k monthly... 100k for food ingredients and stuff monthly ...100k for my kids school fees.. 50k for me and my wife so 150k is for our future projects and plans .... Even me I don't earn more than your average salary I have achieved some tangible things in life

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Re: 400k Salary, but nothing. by DeGLORIOUS: 11:37am On Jan 11

I don't know where you live, I don't know your priorities about life, i don't know if your wife is working, I don't know the demands from your parents, etc and you want me to advise you on how to save! No wahala. To be honest with you, if I am being paid over 400k monthly with a wife and three kids, I can save up to 2mil in a year and still live better. For how long will people keep blaming the economy?

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Re: 400k Salary, but nothing. by emmaodet: 11:39am On Jan 11

Gerrard59:

Ta! He would not have an erection again. He would not produce semen. He would not be a man. He would not produce the testosterone hormone again. And many more.

Our people think it is fun to have children. They forget these children have to be raised for at least 25 years using the Nigerian system. For the next 25 years, they are spending on three people to be responsible human beings. I don't know why they think having children is fun. The koko is in raising children.

After two like this, I don lock up! I did not come into this world to raise children. In fact, I look forward to creating a thread of my vasectomy experience when the time comes.

I don't know what people enjoy in many kids.
If you talk now, they will tell you to shut up that they are capable and can feed their kids. As if life is all about feeding alone. Even the feeding sef, go check it, it is not a balanced diet with regular fruits etc. Just your normal rice in the morning, soak garri in the afternoon and eba in the evening.
If they know what it means to raise a standard kid, they will know what they are doing is a joke.
You have kids but can't insure their education against your demise, can't insure your life Incase you die and their feeding and school continues smoothly, there is no yearly plan for shopping for wears, na as e com you buy bend down select.
Many even struggled to buy Xmas clothes for the kids last December and are worried about January school fees.
How many families can say they took their kids and wives out last Xmas season to beach, cinema, vacation, outing etc
Their lives and daily calendar is sooo Soo boring and predictable.
Monday to Friday, go to work and yansh your madam in-between, Saturday is for any event like burial or wedding invited to by co-workers, Sunday church. Finish
Yet they will be the one to first scream I can feed my kids that is why I have 5

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