₦airaland Forum

ambient:
[b]For the milk and milo try buying it in roll, [/b]i hardly buy tin milk in my house i buy two rolls of milk and chocolate it will save you money.

Better. It curtails the quantity the kids scoop as they can no longer scoop from the can. There is now 3-in-1 which comes handy.

Breaststroke:
I would say leave your tithe to God alone, it is (for me) one way to honour and thank Him for blessing/giving us what we have in the first place. He is the giver of the gift, do not start to like or cherish the gift more than the giver.

Secondly, our tithes/offering are meant to help the poor, needy and less privileged in our churches as well as further the work of God's kingdom on earth.

Even if our churches have failed or are failing to do the above, we shouldn't fail as true believers to do good, do right and do well by God. He doesn't need our money to bless us or still love us, but I think it honours/pleases him when we respond to Him in little ways like this.

You can still help the poor, needy and less privileged in your own way if you choose to, but I have seen the good work my home church does through outreach ministries to prisons, to children of fathers in prison, widows, orphans etc and I appreciate what we are able to do together as the people of God, more people are helped when we pool resources together rather than trying to do stuff on our own as one person.

I struggled with paying my tithes/offering to my church at one point but when I saw video evidence and heard testimonies of lives touched, helped and transformed it brought tears to my eyes and it gingered me to continue giving because others benefit from our collective effort.

A lady I know rarely struggles with paying her bills. She's a single mother raising her child by herself, she always has her son's school fees on time, house rent on time (even her landlord said I have never had a tenant like you ) does international travel frequently etc. Pls note she is not working with a multinational or doing sugar daddy runs to survive, when I asked her how she is able to stay on top of these bills, she pointed me to scripture, the part where it says in particular that the devourer will not devour you if you honour God with your resources.

Sorry this got longer than I intended but I like to share true life stories when it comes to God to encourage and build others up.

Stories for the gods. Tell us her salary so that we can analyse. Never knew that manna now falls from heaven. Please point us to where to get this manna so that everybody in Nigeria can go and pick it.

sisisioge:
Oh my! You have 3 kids with that income and still spend 15,500 on church monthly? Please it's been established that tithing is not by force.

Also, there are some white buses at Baale in iyana oworo that charge about 200 to VI. Please try them.

It is very well.

His transportation is already cheap. At 8000 for a month and working from Mon-Fri and using 20 working days, that comes to 400 daily which is 200 to/fro. So the transport cost is reasonable. Was even surprised that it is that cheap to VI.

Instinged:
Here is my monthly expenditure every month for every year.
I hardly meet up so i end up taking loans, so i want to know if am
the one over spending or how..
I seems not to understand myself, salary will be paid in few days
and i cant even meet up with some of these expenses.
I have FIVE(5) major places my money goes to
1. FOOD 2. TRANSPORTATION 3. CHURCH 4. SCHOOL 5. HOUSE

SALARY/INCOME PER MONTH
100,000
EXPENDITURE BY DEFAULT
120,000

EXPENDITURE PER MONTH

1. FOOD;

RICE 8000
BEANS 3000
SPAG 1000
SEMO 1500
YAM 3000
P. WATER 2000
SOUP 12OOO
BREAD 2000
TOOTHPASTE 350
WSHING SOAP/OMO 1500
BATHING SOAP 2000

2. TRANSPORTATION
OWORO SHOKI TO VI (MON-FRI) 8000
CHURCH 1000
OTHERS(VISITATION) 2000

3. CHURCH
TITHE 10,000
OFFERING 2500
OTHERS( CHURCH DEV) 3000

4. SCHOOL
FEES FOR 3KIDS 22500 PER MONTH
BISCUIT 2000 CARTON
MILK/MILO 4000
INDOMIE 3000
JUICE 2000

5. HOUSE
RENT 21000 PER MONTH
NEPA 3000
GoTv 2000



Thank You

The bold is already about 15%. Well, there are people that believe so much in paying tithe. As for me, i cannot pay tithe when i have not been able to save.

I want to believe that your kids are still in Primary school. Wait until they start entering Secondary school. Your borrowing will be on another level. You better start saving before they enter Secondary otherwise you will not be able to feed well not to talk of saving.

There is what they call 'paying yourself first before any other thing'.

adonisechi:
Greetings Nairalanders!
I'm a regular visitor on this forum and never felt a need to open an account since my 4 years of frequenting here. At least I just did today; and that is because something has been troubling my mind. I just thought it wise to seek advice from all kinds of people over here; warts and all.
Forgive the typos, my tenses and all.
I'm presently in my 3rd year in an Eastern University studying Statistics. I took JAMB 3 times applying for medicine and later got Statistics. Out of boredom I decided to go for it because I was so tired of staying at home then and was desperately eager to leave home. Mathematics was my worst subject in secondary school; I was one of the best in all other subjects but that tedium of having to stay at home for another year should I decide to ignore the admission didn't allow me to analyse the situation critically. Left home, even as some relatives never supported that decision because I wasn't known as someone who could process numbers easily but words. To cut the long story short, first year wad awesome. Second year's result took me off balance and I saw myself in 22.
3rd year's first semester result just came out and my God! out of 6 courses I failed 4; passed two with Ds.
Can't blame this on lack of preparation. In fact, I've never prepared for an exam in my life like the way I did for that exam but I still failed woefully. Truth is no matter how hard I read I just can't understand numbers and calculationd but words are easy got me to comprehend.
As we speak I just don't have the courage to go for classes; I sunk into a deep depression ever since the notice board told mr that tragic story!
I'm on the horns of a dilemma; I'm thinking of writing another JAMB and applying for medicine which I'm sure I can get it this time around or to stay here and try to come out with a Second class lower. I failed a prerequisite course which means I just got myself an extra year.
Sorry for the long epistle but I really need advice from you all!
Once again, please ignore the typos, bad grammar and wrong punctuation. I just had to type this asap
I look forward to reading your comments with regards to my plight.
Thank you

The lack of career Guidance and Counseling officers in secondary schools is the cause of this. I was not good in reading subjects but very good in mathematical subjects. I was being pushed to go and read a reading course in university but the Guidance and Counseling officer in my school then changed all that. The woman help and saved many of us then that were confused on the courses to choose. There was no internet penetration then to even do a search or do a research.

You delayed in taking the decision you want to take now. A course in the medical or biological sciences would have been the best then. Find out if you can do a departmental or faculty transfer to the medical or Biological sciences so that when you complete that, you can use it to go for Medicine.

Sackyjewel:
Please I invested 10mil in tbills with first bank on 23rd of last month, the exact 10mill was debited and no interest paid to my account yet. Is this possible or is an error from the bank.

Did you tick that you want the interest to be re-invested?. First Bank normally do that based on the experiences of people here that have used them.

Get to the branch and get the details of what they have done. If the interest was re-invested, then you can only get your Principal of 10m plus the interest at maturity.

Grupo:
Why you wan resurrect old argument to cause quarrel?

Why are you surprised?. She is most active in the politics, crime and celebrities sections where irrelevant round and round arguments take place.

You know some people do not read to get the flow of a discussion before jumping in to comnent. They just jump in, make a comment on one post and jump out.

Btw, the word 'most' was used in the original post and you know English comprehension can be very tricky to comprehend espercially with our current standard of education.

Anyway, back to learning mode on the very enriching N10m vs USD 28k lively and highly educating discussion.

zamirikpo:
Yes every society has its problem, but u r comparing a random , difficult to control issue with blatant incompetence.

A mad man randomly shooting up a school is different from daily kidnapping, daily no light or no roads or evident insecurity. We see our wahala korokoro.....and do nothing to remedy it.

When 9/11 happened the govt rose up and made sure it never happens again. Hope u see the conscious effort the us govt is putting to stop random killing.and u must appreciate the delicate and impossible nature of such crimes. Pls what is delicate abt fiixing roads, getting steady power supply, good schools and hospitals.

Boko haram has a base, known territory and up till tomorrow they can not be stopped. Fulani herrdsmen are ravaging villages EVERYDAY, it's no random, I say EVERYDAY, and because the president is fulani, police cannot stop it once and for all.

If u soo loved ur country why did u leave in the first place.....

I did not leave Nigeria o. I have been living in Nigeria since i was born. Primary, secondary and University education was here and have been working here since then. Do not have any intention to leave to US as iam not comfortable with the stories iam reading about the place and also the way of life iam reading about. Moreover, the US or Canada or UK will never allow everybody in Nigeria to leave here and move over there. Some people must remain for here. Imagine 150m Nigerians moving to US or Canada or UK?.

igbizen:
Where is the war zone exactly?
So naija crimes have become war zone?
People that have not witnessed community clash, will be shouting war zone, war zone.
I don’t blame guys, I blame the media.

When these people see two area boys fighting and breaking bottles on the road, they will take off shouting war zone, war zone.

zamirikpo:
See wiith $120k u can get a house in the USA abi, but do u buy mikano, diesel, pay aboki, buy jeep cos of bad roads, and still sleep with one eyes open.

No comparison, ur $28k is far more meaningful in the USA than in naija.

So after buying the house in US for $120k and you now sleep with two eyes closed, no mikano, no diesel, no aboki and no need for jeep, you then send your kids to school and one small boy walks into the school one day and shoots indiscriminately and waste them or you go to the mall to buy sneakers and one angry man comes in and shoots indiscriminately or one olopa(cop) comes into your neighborhood and fires pointblank at you because he/she sees you standing by your window.

Every society get him own problems and wahala.

NL1960:
How much will you be expected to pay yearly after this down payment of $28k on $400k house?. Iam just asking for learning purpose.

ahiboilandgas:
may be 2500 per months with combine familu income...of 6k monthly u will be fine

That means using 400k as the amount for the house and doing a down payment of 28k, this leaves an outstanding balance of 372k excluding interest. 2500 per month gives a yearly amount of 30k. A yearly payment of 30k on 372k gives about 12 years. Let me say 13 years when interest is factored in. Not bad.

The real problem of housing in Nigeria is that you are expected to cough out the total amount for a house at once. The same with purchase of a new car.

$400k @ 360 gives 144m. How many people have 144m to drop for a house at once?.

Omonigeriarere:
Hey guys! We are tired of America and Nigeria comparism; please let's talk about today's bid.

Today's bid will be provided when CBN provides it. Let us learn while we are waiting for it.

needful:
$28k in usa will get u a brand new tear rubber bro. It may not be 2019 model but it will comfortable get u a 2015 or even 2016 model of car. Again it depends on the car, in some parts of usa, $28k will get u a down payment of mortgage. Then in Canada, 28$usd will get u a down payment for a house of about $350k to 400. And that same $28k usd will get u a brand new 2016 to 17 model of a car. $28usd will buy a mobile home wel equipped. Speaking with experience though.

How much will you be expected to pay yearly after this down payment of $28k on $400k house?. Iam just asking for learning purpose.

Grupo:
Student loans. And many parents don't send their kids to University.

Interesting and there are so many Universities there. So where do they get students to fill them from?. It cannot be from foreign students alone.

oluayebenz:
How is 10m ordinary 28k usd

In the USA if you have that in cash you be chairman

I thought USD 28k was small money to people in US as i normally see their University school fees ranging from USD 50k and several parents send their kids to University.

needful:
So u mean to say every body on this forum are male abi?. Change ur mentality about females, all of them arent slaying. Even some of them slaying still do so with their senses intact.

Honestly i do not understand this your response.

The OP understands my post as she has since responded.

deepwater:
i believe if u dont collect interest upfront, it would be reinvested and the interest on that as well would be reinvested, the circle goes on until the last 1,000 or so. perhaps that person only recorded the first interest and not other tiers of interest. hence s/he believed the interest was more than expected.


n.b i am just saying, never reinvested my interest before.
i dey use my upfront solve immediate need.
government must fund my basic necessity in this country.

i advise people to buy tbills in good rate at high principal, that way u can always use the interest to buy new inverter batteries every year to have constant power supply. pay your house rent until u build your own sponsor your kids to good schools et al with hassles. maintain ur vehicle at top shape once every year.

Gbam. Abeg, dey help us sing am to your fellow females as most of them do not understand.

aremso:
Whatever! Those that are vast in stock investment knows what am talking about. FY = financial yr end which is usually December for banks and they start to roll out their year end result for the previous ur in the current yr. Eg 2019 financial result would be out for most bank from march next yr. Can't understand your fiscal October whatever

You are right. All banks in Nigeria have no option than the December year end. They were mandated to do so by the CBN sometimes ago. What was happening was that some banks have December while some have March and some June. So when it is March, those that fall under that will massively go and take interbank from the December or June year end banks to shore up their books. This gave the erroneous impression that all banks were in the same category or doing very well in terms of deposit. The harmonization of the year end to December put paid to that.

Godbpraised:
stock till dey? i do not put my money in something i do not understand.

Stocks still dey o. Those that are very adept at playing it make so much money that thumps interest from TBs. Playing the stock market is hard work.

bigdot1759:
you're talking like a professor who never think/reason outside accademic life, must everyone invest in real estate just because you're into it? There're many & far beta investment that's more lucrative than real estate..... If someone belief in TBILL then let them do it, must all of us make it from one DIRECTION

emmanuelewumi:
Hope you read where I talked about the need to be diversified?

emmanuelewumi is a stock guru. I learnt so much from his posts and analysis from the now rested 'stockmarketnigeria.com'. It was by following his analysis that i built up funds from stocks to build my country home of 4-bedroom ensuite duplex built over a 4-year period. So i dey always read him posts and analysis very well.

Finelinks:
See why people fail comprehension in high schools.

He built on same land you called remote village. SAME LAND SIR. And now has commissioners as neighbours.

And hey, don't turn a volte face. Why applaud him? Or you no longer know your stance? Why approbate and reprobate?

You would deem it a liability even in 2004 that he built or did he tell you he had 1 billion in 2004?

Going by your argument, he would have invested it in Tbills and use the interest to rent.


As per my question, you have tried to evade it or wriggle out of it.

At any rate, it seems engaging in tergiversation is your forte. I may make no further rejoinder to this.

You are a very funny man. I do not have strength for round and round arguments. You like round and round arguments sha. Not surprising as you are mostly active in the Romance section. Na that place and politics section dem dey do round and round arguments.

He built on the same land after 8 years and not immediately he bought it. Note the key points in the post and in mine. He also used funds built up over an 8 year period to build. Simple and straight forward.

My advise to any young person is that he/she should build up his/her funds and use the proceeds to build that personal house. It is an advise and is not compulsory that the advise is taken. If you come into 2m-3m suddenly as a young person and decided to go and use it to build a personal house especially when you are still single, na your decision be that. Wetin concern vulture with plaiting of hair?.

Finelinks:
Suffering from DK effect?
I asked you a simple question.

Why did linda buy a house?

Why didn't she invest it in Tbills to get 145m per annum, then use 100m to rent choice house and keep 45m?


Or she didn't need extra money?


You were busy citing names i used in context, out of context.

Is that how you read? You cherry pick?

Gosh!

Linda now bought when she had built up her funds and not before. If her ROI in TBs is lower than her other investments, she will not invest in TBs. Do you know if she has investments in stocks?.

You have also refused to answer my own question which is "why did Linda not go to build or buy her personal house when she made 5m or you thought she made the 850m for her house at once"?.

ahiboilandgas:
me know this na since 1999 ,I bought my first land at 23 years 720k built in 2004 100 by 100 , I didn't have enough money the next was up for sale for 800k didn't have money but I was sure it will blow ....it was sold for 15 m in 2016 it pain me , I also build a house on my own in 2006 ...my Neigbour are house of rep members ,commissioner ,above average people ....i never regret that move my dad praised me my bq was built for 3m in 2006 is now on rent for 500k , I made the 3 m back since .....it not for all areas sha and must not be Lagos

This is what we are saying. You bought land as a young man and not built a personal house at that age with your first capital. You could have gone to build your personal house in one remote place at that age in order to be called landlord but you refused and instead opted to build up the funds and iam sure you were on rentage then.

This is what iam trying to tell @Finelinks.

Bought your first land in 1999 and built your personal house 8 years later in 2007. That is planning and building up of funds. You could easily have built the personal house in 1999 but you did not.

Finelinks:
NL1960
grupo
ahiboilandgas (see what you have beem saying. Another has confirmed it.

Go back and read his post. He did not use his first capital to buy the house. He bought from proceeds of built upTBs.

You are still missing it or have refused to understand. Nobody is saying you should not buy a house but do not use your first capital to do it as
young person. Na wa for comprehension o. Shuooo.

DigitalMallam:
There is no one size fits all when it come to investment, and I believe no one want to win this argument. Be it building for investment, TBill or what have you. Have a plan and follow it diligently. Each has its pros and con. I started building my first house in my home town a yr after my youth service and it took me 5 whopping years to complete, in the process I learnt some lessons but no regret, it made me wiser and thought me some lessons as well. Later on in life when I moved to Lagos and met an entirely different terrain. I could recall going on bended knee with my money at hand but my then landlady won't allow me to renew my rent. Never knew that was the standing rule in that house. You can't possibly stay more than 2yrs even if you work in CBN. Moving from one house or area has its effect on family, children's education etc. I was lucky to have heard of Tbill early in life. Luckily a better house directly opp her's was put up for sale, what did I do, I liquidated my entire Tbill investment and bought the house. It came at a cost, but I had to prove something to the woman. The fulfilment that comes with owning your own house can't be quantified, It was like a rebirth and I can plan better not to mention the huge respect you gain from the society. So let every one chart a course he/she believe is best and walk the talk.

You had already consistently built up your funds through TBs before you bought the house and not that you just used your initial capital to purchase the house. Moreover, having already built a house over a 5 year period, you already had some life experiences.

Finelinks:
Facts are stated to prove a particular thing and not to prove all things.

Linda was mentioned to prove or buttress the point that building a home is not always unwise.

It's not about tbills tbills.

Don't engage in ostrich evasions.

GOING BY YOUR ANALOGY, Linda should have even invested the 850m in tbills and used the proceeds to rent a choice place and still have change left.

Or don't you know how much she is losing? True yield of 850m is averagely upto 145m per annum. She should have used 100m to rent the best house and keep the difference.

Or doesn't she need extra money?

AS PER THE 5M blah blah blah, everyone does not live or work in Island. It's not a desideratum.

Where in Lagos can 5m build you a decent personal house that is close to the major business districts?.

Finelinks:
Facts are stated to prove a particular thing and not to prove all things.

Linda was mentioned to prove or buttress the point that building a home is not unwise.

It's not about tbills tbills.

Don't engage in ostrich evasions.

BLOWING IS RELATIVE OGA,


BY YOUR ANALOGY, Linda should have
even invested the 850m in tbills and used the
proceeds to rent a choice place and still have
change left.

Or don't you know how much she is losing? True
yield of 850m is averagely upto 145m per
annum.
She should have used 100m to rent the
best house and keep the difference.

Or doesn't she need extra money?


Even Dangote should have invested the 16bn he used in buying a Yacht in Tbills..
That would have given him circa 2.8 billion per annum.

This why i said you are missing the point of discussion. Nobody here arguing against using your first capital or using your 'tasere' money to build a personal house is saying it is all about TBs. The point being made here is that when you have low funds and you as a young person needs to choose building a personal house and investing in TBs, you should choose TBs in order to grow the funds in a less risky manner. If you cannot understand this simple flow and logic of this discussion then it means you are just arguing blindly. You have moved from Bill Gates to Linda Ikeji and now to Dangote. You keep mentioning people that have have made it through growing of their money.

Did Linda Ikeji just woke up one morning and saw 850m to buy the house or did Dangote just woke up one morning and bought a Yatch?. They all grew their money over time. There are people who grew their money through business, TBs, Bonds, stocks. Iam yet to see a person who grew his/her funds through the building of his/her personal house with initial capital or with 'tasere' money.. If you know of such a person, let me know.

Finelinks:
Young people starting a life is relative. So is the house in question. At what point along the continuum do they qualify?

At what point do they become ripe to now own a home.

Linda Ikeji allegedly bought a house worth 850m in her 30s.

Forget. No hard and fast rule. We can as well kill our old sick parents because they are now aged and bring no income. Or like ahiboilandgas says, throw away our wives and kids.

They are liabilities.

Linda Ikeji did not buy her house with her first 850m. She already built a business and had serious reserves before buying that house.

This is why i earlier said that you have missed the discussion.

A young person see 3m in his account. The next thing he goes to Mowe or Odogunyo in Ikorodu and build a small bungalow because he does not want to pay rent or does not want landlord wahala. Then every morning, he wakes up by 4am to go to work on the Island and gets home every day by around 11pm. Then weekend, he crosses his legs in his sparsely furnished sitting room and says 'iam now a landlord'. Meanwhile, he is far removed from activities in town as he finds it too stressful to leave that interior.

Is that the kind of advise you will give a young person if he/she comes to you for advise?.

I do not have a problem with a young person having 50m and he uses 30m to buy or build his personal house. My TBs can conviniently build me a house in the outskirts of Lagos but why will i do that and then be leaving home by 5-5.30am everyday and get home by around 11pm whereas the interest from the TB can get me a decent 3 bedroom apartment that enables me to leave home by 7:30am to work and get home between 6:30-7pm everyday?.

Look at your Linda Ikeji example. Where did she buy her house?. Banana island. When she had 5m, why do you think she did not rush to Mowe or Odogunyo to build a house?.

Finelinks:
Oga forget.

Even Bill gates and and his likes own their houses.

If you are big you are big.

Some level of freedom comes with ownership of one's house coupled with latitude to behave the way you like, avoiding landlords policing you about.

You should learn to read well and comprehend before responding to a post. We are talking of young people here just starting life and you are giving an example of Bill Gates. At what age did Bill Gates own his house?. Who is talking of being big here?. When you want to give an example, give an example of a young Nigeria. Iam sure your next example will be Michael Dell.

Agbalowomeri:
Not possible

However, I think he must believe there would be some magic behind the calculation
He probably doesn't know it's simple arithmetic being a newbie

Very possible. Have you not heard the word 'mercenary' during WAEC?. They just write on the board for you to copy. So the guy can even just copy the formula I = (PTR)/(365*100) and the solution as written on the board without actually knowing what it is used for.

Owiii:
Please I purchased 2m what of treasury bills at 11.6% for six months. Its to mature in november. How do I calculate the interest that will be accrued to me. Thank you

RabbiDoracle:
Pick up JSS 3 General maths. Answer is there.

You will surprised that this person got A1 in WAEC Mathematics.

ahiboilandgas:
he should sell the house and pay the bank the house wasn't really his ....he didn't cut his coat according to his size

Sell ke?. Do Nigerians sell their house even if they are dying of hunger?. You want that feeling and extra bounce when called Landlord to disappear?. Anyway, the man went to court. He got a judgement against him. He went to appeal and lost. Before he could say jack robinson, court bailiffs just came one evening and booted him out.