₦airaland Forum

Fearurcreeator:
Nigerians wants to be living like a celebrity... Government no fit help many people... Still a certain news today where Osinmehen gave his childhood friend 5k euros and the guy said he was expecting like 50k euros cus he wants to start business with it ... Some said in the comment section that 8m is too small to start a business in Nigeria ... I was just laughing

Segzy19:
So Bro, just try to resize your spending...
You may need to stoop low for a while. Just focus on work and feeding.... Maybe your clothes, shoes, perfumes, dressing accessories, phones/accessories, gadgets are too expensive...
You may need to tone down if that's the case...

Cos a single guy earning 500k is good o. Do you know that many couples (husband and wife) don't even net up to 400k combined? Infact 300k...
Husband 140k, wife 120k yet a single you earns 500k... When it's time to marry, abeg marry person wey go fit complement your earnings o... No be person wey go drag you down... Ehen!

I wish you more blessings o.

Cheers

Love800:
Okay.
In wholesale or retail?

Segzy19:
You will see a lot of people giving you wrong advice here that it is a small income . Yet a lot of these people are online millionaires o... I'm real life, most of them are nothing to write home about.

Guy, if you are earning 500k just know that you are better than many many millions of people in Nigeria. No income is really enough... Find ways to add more... But then you didn't tell us your circumstances... Are you single or married? Are you sponsoring yourself or your siblings in further education? Do you actively cater for your parents? What other burdens are you bearing?

harjay1986:
I reside in Ogun state, two bedroom flat 200k per year, no agent fees, which I save 20k per month for, every time we get paid, my wife will buy basket of peppers and tomatoes from farmers at cheap prices, then we grind it and place it inside freezer, from our compound we raise turkeys and chickens that serves as protein only spend 20k for their feeding per month, as buying Gari and Beans in local Market which come with low price sometime I do make garri from scratch at home .... alot just to reduce expenses

Someone mentioned DSTV ... a have a free to air decoder at home, that air cartoon and some other interesting stuff so no monthly subscription except for data which I do 20gb for a month around 5k, I share this with my wife and because at work I do have free wifi with no restriction...

On transportation to work i spend 1k per day that is 20k for a month

yemre:
Even if you have 2 kids and a wife and you earn 650k in this economy. If you can not save a minimum of 2m in one year. Then, there's something wrong somewhere! You need to sit down and really search yourself.

The state of things in Nigeria nowadays is enough to learn how to manage resources.

One guy up there already said it all. If you have kids, recharge DStv only on holidays. You see this family outing stuff, make it only once a month and minimize your spending on such occasions.

If you have a car and you work on the island for instance, park your car and take public transport (if staff bus is not available).

Stock your home with foodstuffs monthly and eat from home, at least your dinner (That's if your wife can not prepare your food before you leave home in the morning), that reduces your food expenses.

Your rent must be something you can afford, and not something to show off. With 650k monthly, I don't expect you to live in a house which rent is more than 400k annually (that is if you don't want to forever make money for your landlord. Remember he will always come at about three year interval for rent increase!

Be wise guy, this is Lagos!!!

Peace!

Zetty177x:
U too get wisdom
Let add
If he's eating outside, he should start to cook. When I saw my expenses. I started cooking and swore not to go to eatery this year. I have been strict with it.

Love800:
You sell cooked meals to customers?

advanceDNA:
60k na 240k per month ooo minus small fixes

If u are not earning significantly over 500k and u won't have good savings after u sort feeding, bills, unless u are single or have a good supporting striker

fineboynl:
To be frank each time i go out nothing less than 40k will likely go and that’s if i didn’t spend. Things are so expensive right now.

Fuel 15k-20k other’s expenses one cannot explain. And day you will spend it will get to 60-100k that depends. Even the babe you carry won’t believe you spend that much but na you know how much left you.

Gerrard59:
Why do you people like doing this?! It is annoying!

Are Nigerians spending dollars in Nigeria? He is doing FAR better than anyone earning that amount in the US.

Please read up on Purchasing Power Parity in Economics.

DrDoc:
Invest 1M in my agricultural projects, get 4 M by the year's end

UkNews:
Food - 150k/month (@5k/day)
Transport - ?? 45k-60k weekly for fuel (Toyota spider)
Rent - ?? 270k+450k
Water -- ?? Not much
Electricity&gas -- ?? Maybe 15k-20k, fuel for gen 60k
Miscellaneous -- ?? I no fit calculate am

adabaraabdul:
Is 650K a decent income?
The answer is what you set for yourself and the lifestyle you have and aspire it to be. For me N650k is really poor given the high inflation rate right now in Nigeria. Nobody should give the man the crap of people are earning way less and managing well, every man has a standard of living he wants and he or she should desire for better. So for me I will tell the man to work harder and smart to get more income to maintain your lifestyle or most importantly improve on it. 650k is really poor!

BrotherJapa:
You are a smart man. Save like crazy and invest like crazy.

iInjureHerYansh:
That’s less than $400 in a month
But you’re doing better than 90% of Nigerians no cap.

Free2Fly:
Tell us more about how the business has been faring and your experience so far.

Angelfrost:
Many of you just enjoy lying or showing off on this forum... And I can bet Op is either.

As at today, only few people can truly boast of such an income in this country.

Most families have combined incomes of less than 500k monthly, yet you don't see them asking such online or offline. They are well adjusted and even thriving.

Angelfrost:
Many of you just enjoy lying or showing off on this forum... And I can bet Op is either.

As at today, only few people can truly boast of such an income in this country.

Most families have combined incomes of less than 500k monthly, yet you don't see them asking such online or offline. They are well adjusted and even thriving.... ok

Basicend:
You are not poor with about 600k monthly.

You are just sneaking into the almost eroded middle-income category.

10 years ago (@2014), an entry-level executive in most banks / telecoms, FMCGs and multinationals earn around 180k as monthly salary. And they could do a lot of good things.

Currently, I think they are mostly earning around 400k to 500k. Trust them to have factored inflationary increments.

If you do not have children yet, and not from a family where you have many people to take care of financially, and you don't carry expensive ladies around, and ur taste is not too high for luxuries, I think you should be just okay financially.

Hero2t:
Please I would really like to learn how you are able to do that if you don't mind

Omalicious1:
Please cut down on your expenses...kill that urge of wanting to solve all the problems once money enters your account (I've been there before). Most importantly, have a budget and stick to it.

femi4:
It doesn't make sense , you are spending heavily on accommodation

Talismann:
you no go like go rent kala dey use am for side hustle.
Bastarrrd