I wld love to save about 50% if i had my way bt even the saving get eaten up in no time.i need to get a fat paying job asap. Any vacancies? Pls holler. My skills are diverse.

you guys are trying sha. I cant seem to save jack,,

1. First, my take-home is pittance anyways.
2. On the average, i hangout with the boys thrice weekly, i thought stopping this would translate to meaningful savings, for where? Little money soon spending.
3. Havent even paid rent this year but tip family, random people,
4. Funny, i've hardly ever had major run-ins with police/road safety, but you know our roads na, enter beta pothole your mobile go hear am. Spent last months salary patapata on car repairs alone.
5. Sometimes i think, why/what am i saving for anyways, no wife, no kids, no project. Even if i saved all of the salary, still seems like an awful long way off to build it up to a sum i'd consider tangible.
6. To crown it all, you know how you never get the month's salary untill well into the following month, even then na with your heart in your mouth, by this time man done broke to the marrow, debts here and there, you get the cheddah, fiam! Its gone.

Sorry for the long missive lol, just that the matter don dey my mind tey. Hope to join the co-operative/thrift thingy this month, see how that goes. Thanks for listening.

I save 60% to 70% of my monthly income.Financial discipline is my trade mark.

Tobiegal:

Why are you surprised?

I get to spend all my monthly allowance na...

So, considering i get that same monthly allowance plus qtrly pay... u get the picture better now, right!

cool.

I gt it now....

'He who cannot SAVE is not SAFE'. Saving habit needs determination & committment. 4 ideal family man, 20% for saving while 80% should cater other family expenses.

About 75%. This is taken off straight from montly salary as 'ajo'. Luckily I also have a lil buisness that brings in extra income so most times I get to save over 75%...until d shopohalic side of me shows up!
Thank God for compulsory ajo

Interesting topic indeed. I could save upto 40% of my pay but I can't do so at the moment because I have some loan repayments to tackle. I should clear the huge one by the first quarter of next year. In other words, the savings I have at the moment are not really savings as it is strictly for my debts. Once am done, I will start saving up again.

For people on meagre pay, it is not really easy to save especially when your income is X and your expenses are Y. Mark you, these expenses may not really be the direct expenses of the low income earner. Most of the expenses might actually come from fulfilling the economy of affection such as paying school fees for siblings, giving money to relations in need etc.

Pls I need more explanation
Last year I save n I used d money for a car but a white director of mine says dat is nt savings.
Wat is savings used for?
I do save 60% monthly.

i so like this thread. i earn lyk 90k in my company. an still single and am saving like 50% of ma salary,to me its ok.

Posts lyk this make sense and are τ̲̅ђε̲̣̣̣̥ reason I m still on nairaland....I ve nt yet started working, still in school but I plan to get married when I m 28 and strt having kids arnd 30...I also plan to be saving 25% to 30% when I strt earning money...pls can someone tell me weda it's okay to pay for ur kids sch fees frm ur savings or frm τ̲̅ђε̲̣̣̣̥ salary straight..

Wow,I'm really learning... I thank everyone for their positive contributions...

wait until u get married and your spouse aint working. come back and tell us about your discipline! weldone

55gal: I save 60% to 70% of my monthly income.Financial discipline is my trade mark.

lawak: wait until u get married and your spouse aint working. come back and tell us about your discipline! weldone

lol, on a more serious note sir, can you tell us the percentage you think is practicable...

20 or 30percent,depends on my expenses for that moonth.

No doubt saving is difficult. i have a monthly salary that is paid on time and is above average. i easily collect bank loans with this collateral. so o make sure i am always paying back 60 to 70%. i use the loans to buy landed properties which acts as my savings and also appreciates in value too.

seriously i save all nd bfor month runs out i spend it up to lik 1 percent seriously spikin

I no go lie you, savings dey bleeped up for me! at least 25% every month, even as salary na peanut.

I don't save .

I'm saving as if my existence depends on it. My spouse is the type that wants to be the head in everything, but i still play my own part shao. I put away 40% into insurance, 20% stays in my bank account while the rest is spent as things arise...kitchen, shopping bla bla bla

my own case na pele state o..after looking for cisco job,i no see, not even an interview.(after my CCNP).i work somewhere where i get 50k.all my money is diverted into studying and writing CCIP and CCDP exams before november, so i can get a correct one.
Also i needed to get a tab so i could be reading and intend getting a laptop to practise..my debt longgggggg...infact i dey borrow..i dey run from women now o

puplin: I'm saving as if my existence depends on it. My spouse is the type that wants to be the head in everything, but i still play my own part shao. I put away 40% into insurance, 20% stays in my bank account while the rest is spent as things arise...kitchen, shopping bla bla bla

lol

55gal: I save 60% to 70% of my monthly income.Financial discipline is my trade mark.

@55gal, pls can u explain further the methods u use to achieve this financial discipline. Many people will learn from that. Also, are u a married man?

20% of my income

Babzilla: 0%. Whats the use when one will die someday

LIFE!

Hahahaha,no married man can save up to 50% or more monthly. Yeye ppl, una come here dey make mouth.I no blame una.Wen una don marry dey pay sch fee and so on den una go know say e no easy to save up to 50% of ur income monthly.Mtcheeeeeew

spyder880:

No matter how low your salary is, you can save something, let not your excuse be that your pay is small, save small and start doing something on the side, no matter how small.

Bro I have a friend that earned N45K a month, tee fare/month is abt N13K, house rent/month N7k5. Feeding is nt there, clothing isn't there, family wahala never show, upon these people will think he is selfish.

Guys that claim to save what the save, do u pay tithes atall if not substract 10% from what u say u earn. Me sha after tithe, I make sure I don't go below 50% bad as e bad.

I save about 40% of my salary

People are missing the point here. It's not just to come here and brag, i save 70%, 100%, 99000%. If you want people to learn, let us know some daily saving tips. How do you cope with feeding, transportation? How do you battle longer-throat like KFC and Chocolates? Most important, for the business-savvy skillful few who are not greedy and are willing to share their secrets? What do you invest in for better returns without too much initial capital? Oya fire on!!!

20 is ideal but ℓ̊ actually save half of ma pay

Babzilla: 0%. Whats the use when one will die someday

I think you need a bit of a safety cushion if you get sick, out of work, etc.

And in the long term, at some point you'll be old and be retired. You'll need some savings to live on (unless you are just planning on your kids as your retirement )

Though i don't earn much but where i work they make provision for feeding, transport, accommodation. because it involved travelling. So i save 90% or more, though am still single.