Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. - Family (11)

Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. - Family (11) - Nairaland

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Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by uzoexcel(m): 7:18pm On Jun 01, 2023

crossbreedwears:
1.3M for 2 bedroom in Ajah. Babana, please look dor somewhere oh

he's saying the fact..house rents have shot up si ce 1st quarter this year

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Wodu89: 7:21pm On Jun 01, 2023

Runnerzz:
Madam this short hard knock life one must deliberately create room for enjoyment or die miserable... It's not a big deal to relax and unwind it saves u from visiting the doctor frequently

It's either to create a job for oneself or die of poverty o

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by chukzyfcbb: 7:31pm On Jun 01, 2023

Mindlog:
I was born and raised in Lagos, my family owns rental buildings and I have good idea of renting in Lagos.

There are many moderate neighbourhoods within the mainland he can get a cool 2 bedroom apartment for N700k.

A bachelor earning N400k monthly, paying for a N1.3m apartment makes no economic sense and if he was a relative of mine, I would ask him who is he wasting money to impress?

You my friend tells lies

Enter street make you know how far.
Even a good looking mini flat now is hard to come by at 700k

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Igbokwechika101(m): 7:38pm On Jun 01, 2023

It's really getting out of hand.bro you have to reschedule your self.come to main land.at least you will get a good apartments.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Mayeldah(m): 7:49pm On Jun 01, 2023

This one na big man for Lagos. You no ask people wey get family and salary na N80k

I no get advise for you, enjoy till responsibility comes.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by BuddhaPalm(m): 7:56pm On Jun 01, 2023

FalseProphet1:
What of tithe. Why is tithe not on your budget? How can you not be paying tithes. Don't you know that your pastor has families to feed. You're lucky you're not my member, I would have called down fire on you. This is wickedness. Tueh!

You forgot the first fruit racket.

3 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Snitch24(m): 8:09pm On Jun 01, 2023

you earn this much and spends only 2k on feeding daily
bro
youre capping

2 Likes 1 Share

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Canadahopeful23: 8:10pm On Jun 01, 2023

emmyN:
If you are spending 36k for car fueling a week with the new pump price, it means you are doing about 70 liters per week. If you were driving a 2008 Camry V6, you should be doing about 10 liters per 100km. At 70 liters a week you are presently spending, it means you are covering about 700km in just one week! That's the driving distance from Lagos to Abuja. Bros, where in heaven's name are you driving to?

😂 😂 😂 😂 😂 😂

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Enemyofpeace: 8:20pm On Jun 01, 2023

The cost of living is about to kill the living

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by emy77: 8:21pm On Jun 01, 2023

Most of the responses to the poster's problem, I must say, are out of context. The op is not telling us what he has been spending. He is projecting his budget based on the new fuel price.

I see people telling him his car is bad to gulp 35k fuel a week. Guys, a simple Toyota Camry has 70litre tank, to fill up in the past was 14k average, now it costs 35k!!!! It will still finish within a week, especially with Ajah traffic.

I think the problem is the post is too premature. If you had posted this by June ending, the responses would have been very different. Bus fare from Oshodi to ajah this morning was 1500 one way. Imagine you go 3-4k on public transport daily, you will understand the budget.

Una dey play!!!

4 Likes 1 Share

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Enemyofpeace: 8:24pm On Jun 01, 2023

Op why you no budget for olosho? You no get prick ni?

2 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by LegendaryArnold(m): 8:29pm On Jun 01, 2023

Essenza01:
I really don't know anymore, i just did my budget for the month and i am scared, i have cut from everywhere possible and i fear for my self.. i dont have a GF, Wife, Children.. my salary is N400,000 and i have added side businesses and one or two's to even survive.. but with this fuel increase, what else is left... zero savings..

- Rent - N108,333/mth (1,300,000/12)
- Fuel for car - N180,000 (36k for 5-6days)
- Auto maintenance - N30,000/mth (service/repair)
- Fuel for generator - N50,000/mth (20ltr/wk)
- Feeding - N62,000 - (N2,000/day)
- Health miscellenous - N5,000/mth
- Dstv - N4,500/mth
- Data - N7,000/mth
- Recharge card - N3,000/mth
- Dry cleaner - N4,000/mth (Starch/iron)
- Hygiene maintenance - N10,000 (body spray/perfume, roll on, soap, cream) etc..
- Gift to people - N10,000/mth
- Family House contribution - N20,000/mth
- Eko electric - N10,000/mth
- repairs and maintenance - N12,000/mth
- Clothing, footwear etc - N10,000/mth
- Outings, restaurant, sit outs and provisions - N30,000/mth

Total = N556,500...

My rent is average rent for where i stay, its a two bed flat, i use the other room for home office..

Feeding is N2,000/day.. its not anything out of the ordinary.. tried cooking and spent more with time wasting.

Fuel for car is at the new rate of N500/ltr, my car is a 70ltr car tank..

Auto maintenance is basic brake pads, shocks, service 2mths, tire guage, police pr, tire purchase if any, minor touch ups etc... nothing major.

Fuel for generator is 20ltr/day (2hrs or less daily)

I need help.... how are you people doing it, what am i doing wrong? The rat race is killing me..

Put up your car for bolt services and use bolt to move around. You can't spend more than 25k weekly on that.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by joinnow: 8:38pm On Jun 01, 2023

Essenza01:
I really don't know anymore, i just did my budget for the month and i am scared, i have cut from everywhere possible and i fear for my self.. i dont have a GF, Wife, Children.. my salary is N400,000 and i have added side businesses and one or two's to even survive.. but with this fuel increase, what else is left... zero savings..

- Rent - N108,333/mth (1,300,000/12)
- Fuel for car - N180,000 (36k for 5-6days)
- Auto maintenance - N30,000/mth (service/repair)
- Fuel for generator - N50,000/mth (20ltr/wk)
- Feeding - N62,000 - (N2,000/day)
- Health miscellenous - N5,000/mth
- Dstv - N4,500/mth
- Data - N7,000/mth
- Recharge card - N3,000/mth
- Dry cleaner - N4,000/mth (Starch/iron)
- Hygiene maintenance - N10,000 (body spray/perfume, roll on, soap, cream) etc..
- Gift to people - N10,000/mth
- Family House contribution - N20,000/mth
- Eko electric - N10,000/mth
- repairs and maintenance - N12,000/mth
- Clothing, footwear etc - N10,000/mth
- Outings, restaurant, sit outs and provisions - N30,000/mth

Total = N556,500...

My rent is average rent for where i stay, its a two bed flat, i use the other room for home office..

Feeding is N2,000/day.. its not anything out of the ordinary.. tried cooking and spent more with time wasting.

Fuel for car is at the new rate of N500/ltr, my car is a 70ltr car tank..

Auto maintenance is basic brake pads, shocks, service 2mths, tire guage, police pr, tire purchase if any, minor touch ups etc... nothing major.

Fuel for generator is 20ltr/day (2hrs or less daily)

I need help.... how are you people doing it, what am i doing wrong? The rat race is killing me..

Bros
It's your time and season
Use it well

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Hahjascho(m): 8:40pm On Jun 01, 2023

Except if this is is not true, if so then, you need to read the book "The millionaire mind".

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by TrainPark: 8:47pm On Jun 01, 2023

Essenza01:
I really don't know anymore, i just did my budget for the month and i am scared, i have cut from everywhere possible and i fear for my self.. i dont have a GF, Wife, Children.. my salary is N400,000 and i have added side businesses and one or two's to even survive.. but with this fuel increase, what else is left... zero savings..

- Rent - N108,333/mth (1,300,000/12)
- Fuel for car - N180,000 (36k for 5-6days)
- Auto maintenance - N30,000/mth (service/repair)
- Fuel for generator - N50,000/mth (20ltr/wk)
- Feeding - N62,000 - (N2,000/day)
- Health miscellenous - N5,000/mth
- Dstv - N4,500/mth
- Data - N7,000/mth
- Recharge card - N3,000/mth
- Dry cleaner - N4,000/mth (Starch/iron)
- Hygiene maintenance - N10,000 (body spray/perfume, roll on, soap, cream) etc..
- Gift to people - N10,000/mth
- Family House contribution - N20,000/mth
- Eko electric - N10,000/mth
- repairs and maintenance - N12,000/mth
- Clothing, footwear etc - N10,000/mth
- Outings, restaurant, sit outs and provisions - N30,000/mth

Total = N556,500...

My rent is average rent for where i stay, its a two bed flat, i use the other room for home office..

Feeding is N2,000/day.. its not anything out of the ordinary.. tried cooking and spent more with time wasting.

Fuel for car is at the new rate of N500/ltr, my car is a 70ltr car tank..

Auto maintenance is basic brake pads, shocks, service 2mths, tire guage, police pr, tire purchase if any, minor touch ups etc... nothing major.

Fuel for generator is 20ltr/day (2hrs or less daily)

I need help.... how are you people doing it, what am i doing wrong? The rat race is killing me..

Na enjoyment be yourr problem.

The easiest way to help yourself is to assume you are earning 250k. Then plan your life around that income and all your unnecessary expenditure will disappear.

I see alot of items that are optional on that list but I know they will look like mandatory items to you because you are already used to them.

But think about living below your earnings and let's talk.

Na big man problem dey worry you.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Wodu89: 8:53pm On Jun 01, 2023

emy77:
Most of the responses to the poster's problem, I must say, are out of context. The op is not telling us what he has been spending. He is projecting his budget based on the new fuel price.

I see people telling him his car is bad to gulp 35k fuel a week. Guys, a simple Toyota Camry has 70litre tank, to fill up in the past was 14k average, now it costs 35k!!!! It will still finish within a week, especially with Ajah traffic.

I think the problem is the post is too premature. If you had posted this by June ending, the responses would have been very different. Bus fare from Oshodi to ajah this morning was 1500 one way. Imagine you go 3-4k on public transport daily, you will understand the budget.

Una dey play!!!

Ajah to Oshodi 1500. Omo

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by ghettochild(m): 9:03pm On Jun 01, 2023

Olaxbolax100:
Pls, kindly direct me to the person selling power station here... Thanks

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by ghettochild(m): 9:03pm On Jun 01, 2023

TheBTCinvestor:
Your really Ghetto mehn wat the hell is 4k

For sm1 washing his clothes
Shey hand dey pain am??

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by zivility: 9:06pm On Jun 01, 2023

U don't need to use ur car to work just use it at weekends - think like European when living in Lagos. Find a 1 bedroom flat for less in a better place to save u transport. Know that 550k is very good and work to make at least 150k saving per month for d next 2 years then assess ur status then

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Platodeen87: 9:08pm On Jun 01, 2023

As for me i have a principle which i have been abiding by;

1. At every point in time, my yearly rent should not be more than half of my salary, at most 100% of a month's salary.

2. Even though i earn a little below what u earn, i never consider myself as one who should own a car for that amount of salary. Until i start earning salary where maintenance of my car is significantly insignificant to my income.

3. Since i stay alone (no GF, wife n children), living in a flat is extra spending cos no one makes use of the rooms n i would probably sleep in a room at the end of each day. Therefore, i had only considered a single room self.

4. I prioritise my power needs eg fan, tv, bulbs. Therefore, i have been invested in solar energy on a one-time payment...no maintenance, no fueling cost, no noise, no gas emissions, n it is reliable.

5. For health, contact your employer for adequate HMO.

6.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Nobody: 9:13pm On Jun 01, 2023

LandMann:
Some people earn 45k monthly and they still survive... I don't know how you'll be spending 180k for monthly fuel when you're not doing uber or bolt business and then 108k for monthly rent...shey the apartment extends your lifespan anything you're inside it?

You're definitely not sewing your coat according to your size...

My advice is that you should go and look for an apartment that is not more than 250-400k per year...even if it's far from your office... It will justify some of the fuel consumption...

Secondly, use savings from above to install 1kva solar power system for your lights, TV and laptop only... It will stop the 50k monthly fuel consumption and you'll stop disturbing yourself and others with generator noise...

If your driving around is not yielding times 2 of the amount spent on such journeys then cut off unnecessary driving and visitation and hangout... If you die, two weeks you'll be forgotten... even if you're the biggest clubber and baller in town... Learn to use public transportation...

Learn to cook simple foods and stop eating out for your health sake unless you want to die quick or catch cancer from consuming too much fast foods.

Do the above and you'll soon start saving 200k to 250k or more monthly for that next house project or course to upgrade yourself

There is no going back.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by crossbreedwears(m): 9:15pm On Jun 01, 2023

I know and that is why i said he shoulf look for else where. Besides what is a single guy doing with 2 bedroom flat?

uzoexcel:
he's saying the fact..house rents have shot up si ce 1st quarter this year

1 Like

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Vmoukam: 9:39pm On Jun 01, 2023

Essenza01:
The salary is 400k, the total budget is 556k, the homeoffice is what provides the extra... 10k electricity is a whole month light oo... my neighbour does 15k sef, had to ask because i thought i was being cheated.. the 50k is for 2hrs or less light...20ltrs/week..(3ltrs/day).. the car fuel is based on the new price.. fill up cost 36k/5-6days for 9-5 work to earn the 400k/mth..

Where am i getting it wrong ?

I advice you to get a solar system. You can get a 1kva solar system from our company for around 300,000 naira and that would be enough to charge your phones, laptops, standing fan and light bulbs. Atleast you will get power 24/7 with the daily sunshine

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Babysho(m): 9:55pm On Jun 01, 2023

Essenza01:
I really don't know anymore, i just did my budget for the month and i am scared, i have cut from everywhere possible and i fear for my self.. i dont have a GF, Wife, Children.. my salary is N400,000 and i have added side businesses and one or two's to even survive.. but with this fuel increase, what else is left... zero savings..

- Rent - N108,333/mth (1,300,000/12)
- Fuel for car - N180,000 (36k for 5-6days)
- Auto maintenance - N30,000/mth (service/repair)
- Fuel for generator - N50,000/mth (20ltr/wk)
- Feeding - N62,000 - (N2,000/day)
- Health miscellenous - N5,000/mth
- Dstv - N4,500/mth
- Data - N7,000/mth
- Recharge card - N3,000/mth
- Dry cleaner - N4,000/mth (Starch/iron)
- Hygiene maintenance - N10,000 (body spray/perfume, roll on, soap, cream) etc..
- Gift to people - N10,000/mth
- Family House contribution - N20,000/mth
- Eko electric - N10,000/mth
- repairs and maintenance - N12,000/mth
- Clothing, footwear etc - N10,000/mth
- Outings, restaurant, sit outs and provisions - N30,000/mth

Total = N556,500...

My rent is average rent for where i stay, its a two bed flat, i use the other room for home office..

Feeding is N2,000/day.. its not anything out of the ordinary.. tried cooking and spent more with time wasting.

Fuel for car is at the new rate of N500/ltr, my car is a 70ltr car tank..

Auto maintenance is basic brake pads, shocks, service 2mths, tire guage, police pr, tire purchase if any, minor touch ups etc... nothing major.

Fuel for generator is 20ltr/day (2hrs or less daily)

I need help.... how are you people doing it, what am i doing wrong? The rat race is killing me..

First of all, there are so many articles about how your annual rent shouldn't be more than 2 months of your salary. You should begin looking for a 1 bedroom that cost less than 800k and everything will begin to make sense. Some bedrooms are large enough for both work n bedroom.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by AfonjaPriest: 10:12pm On Jun 01, 2023

With what I've seen, the budget is enough to build a house in the long run. What I saw in the budget is someone who is not suffering but being reckless in spending.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Neyo007(m): 10:15pm On Jun 01, 2023

Mindlog:
Please specify the area cause I'm looking one within 700k
I was born and raised in Lagos, my family owns rental buildings and I have good idea of renting in Lagos.

There are many moderate neighbourhoods within the mainland he can get a cool 2 bedroapartment for N700k.

A bachelor earning N400k monthly, paying for a N1.3m apartment makes no economic sense and if he was a relative of mine, I would ask him who is he wasting money to impress?

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by nedekid: 10:16pm On Jun 01, 2023

Hmm, na wah.
My brother all you wrote there is the basics. Truth of the matter is that the average Nigerian needs 800 to 1m monthly. Do not forget few years ago earning 120k was $1000.
Today to earn $1k, you talk of 800k monthly salary.
Folks here might think this op earns alot, but truth be told, 400k arnt nothing in today's market.
OP, imagine we that now have wife, teens and above teen kids. Having to pay private uni and college fees. Feeding, clothing, pocket monie etc, meanwhile business is slow, salaries have not improved.
Anyway op, God is our strength.

2 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Omawumi17(f): 10:20pm On Jun 01, 2023

Where una dey see all these high paying jobs
Oh God! Am I a spoon

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by cdolf(m): 10:28pm On Jun 01, 2023*

Michelle55:
I have someone who is an installer and the quote he gave me isn't close to what you have up there, I would be running mine next week.
Get another installer to give you a different price and compare, I also work from home but your expenses is a whole lot oh.🤔

Hello Michelle,can we know the sector of remote job you work in .just asking and which websites can we go to apply ,also any other open/free details you can share about the remote job in general,help a brother with any info in this "hit the ground running" n "don't stop running era"we found ourselves in.. anticipate your reply, michelle

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by shineeye1: 10:47pm On Jun 01, 2023

FalseProphet1:
What of tithe. Why is tithe not on your budget? How can you not be paying tithes. Don't you know that your pastor has families to feed. You're lucky you're not my member, I would have called down fire on you. This is wickedness. Tueh!

Go find work to do and support your members, you falseProphet. Even Jesus started with carpentry and supported many. Paul started and continued with tent making even as an apostle. Tithe is not for Pastor but for the needy members. Olé.

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by ItisWell22(f): 11:30pm On Jun 01, 2023

22o62021:
That feeding money is too small

I spend an average of 3k feeding per day and no be say na better food o

I de try be that

God bless you.

I don’t know why people are trying to form prudent or unnecessary economic sensibility here, as if we don’t know how costly things are again; for a decent meal.

Imagine someone telling him 1k per day go do!
How?? 😩
How much is moi-moi now?
How much be akara sef?

Before you do akara, with bread, with milo and peak milk (1 satchet each sef oh), for breakfast; how much don comot from pesin pocket?

Even if na bread and mineral pesin wan dey do morning, afternoon and night; how much a day?

Op may need to cut down on other things there, not the food. And that’s because even if he decides to make his meals, he most likely would spend same amount or more monthly…

2 Likes

Re: Help Me With Budgeting.... My 400k Salary No Longer Takes Me Home. by Mcslize: 11:34pm On Jun 01, 2023

You're living above yourself. Cut your clothe according to your size. You're living like a big man which your salary can't carry.

Better pack out if that 1.3million Naira house. How on earth will you be living above your means? Look for a 350-500k house and stay.

Stop trying to live like wealthy people.

Essenza01

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