Is ₦650k Monthly Income Not Considered A Good Income? - Career (4)

Is ₦650k Monthly Income Not Considered A Good Income? - Career (4) - Nairaland

Nairaland Forum › Nairaland General › Career › Is ₦650k Monthly Income Not Considered A Good Income? (33605 Views)

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Re: Is ₦650k Monthly Income Not Considered A Good Income? by Maitunbi: 11:28pm On Jan 11, 2025

Some of you that come online to post this nonsense may God have mercy on you.

All this senseless trolling must stop. 500k monthly income in a country where the average person earns less than 100k and you have the temerity to complain! huh

I can't blame you.

4 Likes 2 Shares

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:29pm On Jan 11, 2025

emmanuel596:
You are no longer comfortable because your mind has consistently seen that amount and it's demanding to grow beyond that... It's human nature

... nawaoo embarassed

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Omalicious1: 11:31pm On Jan 11, 2025

Jega2000:
I make roughly 500k-700k on average monthly but I am not really comfortable...

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.

2 Likes 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:31pm On Jan 11, 2025

1Salaam:
650k in Lagos is 250k
650k in osogbo is - 500k
650k in Jos is 850k
650k in Bauchi is 1m

WHERE ARE YOU EARNING THE 650k

... South East

2 Likes

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Talismann: 11:32pm On Jan 11, 2025

Jega2000:
I make roughly 500k-700k on average monthly but I am not really comfortable...

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

3 Likes

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Basicend: 11:32pm On Jan 11, 2025*

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 those companies 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 okay financially.

2 Likes 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by franvincoop: 11:33pm On Jan 11, 2025

JJC, dis format don cast, change am
Try John Wick format.

Btw, nobody wan know hw u feel,
infact stop feeling, You are
If u like no ever get parents sef and get 11 siblings, na still from your mind u go reason new almajiri format for nairaland 2 take feed dem.

Teacher70:
Whenever I remember that I only earn 35k monthly as a private sch teacher and the first Born of my family without parents, I feel like I'm a waste. Each time I want to pay my landlord his rent and I take out over 100k to pay, I instantly notice I am enslaving myself.
Nobody will perfectly understand how I feel.

4 Likes

Re: Is ₦650k Monthly Income Not Considered A Good Income? by wazobeer: 11:37pm On Jan 11, 2025*

obaidan:
Expenditure does not have to rise to match your income. The mistake most people make is get a pay rise of 2m, then increase rent by 1m, increase children tuition by 1m, and many more. People should learn the real meaning of what they can afford and what they earn.

You basically reinforced my comment, but you missed the background of that popular saying.

Expenditure doesn't simply rise because people chose to be deliberately lavish, rather, when you earn higher, you suddenly discover you have more capacity to afford things you couldn't afford hitherto and you also begin trying to solve other problems you might have avoided earlier such as helping extended family members, etc.

2 Likes 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Talismann: 11:37pm On Jan 11, 2025

Teacher70:
Whenever I remember that I only earn 35k monthly as a private sch teacher and the first Born of my family without parents, I feel like I'm a waste. Each time I want to pay my landlord his rent and I take out over 100k to pay, I instantly notice I am enslaving myself.
Nobody will perfectly understand how I feel.

if you like dey do self pity for dia, you must be radical about change if you really desire it.

Your life dey your own hands. Change strategy or stay stagnated

Chukwu biko, no even ask me how

1 Like 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Olusaha: 11:39pm On Jan 11, 2025

If you're earning between 500k and 700k a month and still struggling, the problem might be you.
There are free online classes about financial literacy, try one of them it might actually help. If you can't live comfortably with 700k even 10million won't be enough.

2 Likes 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jungleboi(m): 11:39pm On Jan 11, 2025

Jega2000:
I make roughly 500k-700k on average monthly but I am not really comfortable...

Omo this life sha ... if I see 200k salary like I go dey happy .. i know the economy is bad but I go try manage am

If your expenses is more than your income there will be issues .
Try cut out ur excess expenses and see how it turns out.

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:40pm On Jan 11, 2025

femi4:
Your rent determines if it's ok or not. What is your rent? You can't be paying rent of N1.5M and still want to be comfortable

... I pay 270k per annum for lodge wey I dey stay for school, and I dey share 2 bedroom flat with my guy for town, rent na 900k so we share the rent half ..

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:43pm On Jan 11, 2025

IsmailR:
Can you teach me your work? Pls try to be comfortable, there r some people looking for that type of job ooo

... na phone and food stuff I dey sell ooo...

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:44pm On Jan 11, 2025

abba190b:
thunder fire u there bloody liar u be thief saying 700k is not enough for u. I am looking for 100k monthly

.. be calming down.. no be so life dey

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:47pm On Jan 11, 2025

Kongaone:
More than enough self.
Earn 600, loan gulps 250, expenses gulp 250, still save 100. Family of 6 with 2 cars (but na corollas sha)

....omo 2 cars with family u dey try boss... Na one car I get oo and I never marry self..

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:49pm On Jan 11, 2025

ayo2008:
It is nothing in this Tinubu economy
You can't afford to buy a car of 2003 Toyota Corolla in 2 years and a rented apartment with just a room self contain in Lagos

I

...I swear

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Henryfocoyo(m): 11:50pm On Jan 11, 2025

1Salaam:
650k in Lagos is 250k
650k in osogbo is - 500k
650k in Jos is 850k
650k in Bauchi is 1m

WHERE ARE YOU EARNING THE 650k

real matters 😂

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 11:54pm On Jan 11, 2025

essentialone1:
That means that you make about 418 US Dollars per month. That is not enough to categorise you as being financially okay, but then you are still better than a lot of Nigerians. I do not know how difficult or easy it is for you, but target making at least 500 to 700 US Dollars equivalent monthly. Then with time, take it up to 1,000 US Dollars equivalent per month. There is no easy road to success, but keep on getting better than your yesterday. Aim high, and work hard towards it.

... on God shaa..

Re: Is ₦650k Monthly Income Not Considered A Good Income? by meobizy(m): 11:59pm On Jan 11, 2025

You’re living better than many Nigerians. Congratulations.

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:02am On Jan 12, 2025

essentialone1:
Earning between N500,000 to N700,000 monthly is a significant income in Nigeria. However, comfort is a personal and relative concept.

To better understand your situation, I have a few questions:

1. What are your monthly expenses? Are there areas where you can optimize spending?
2. Do you have financial goals, such as saving, investing, or paying off debt?
3. Are you building wealth or primarily focusing on consumption?
4. How do you define "comfortable"? Is it a specific lifestyle, financial security, or something else?

Sharing more details will help me provide more tailored advice and insights.

... I can really say how much I spend monthly, 450k or maybe higher than that... I dey Invest in many things sha, transportation,oil storage and other things...

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:03am On Jan 12, 2025

chiboycue:
What amount of income would you be "comfortable" with ?

... maybe 2m-3m..

Re: Is ₦650k Monthly Income Not Considered A Good Income? by grandstar(m): 12:03am On Jan 12, 2025

harjay1986:
That means you buy food every time, if possible find way to cook your own meal, it will reduce to some extent, I earn 300k with three kids and my wife, after every every I still save like 100k every month

Baba the baba, you try o.🤣🤣🤣🤣🤣

Re: Is ₦650k Monthly Income Not Considered A Good Income? by GiftofGod77(m): 12:06am On Jan 12, 2025

Try to live under your income, save some of the money then after due diligence invest one tenth of the savings. Then buy real estates with documents to back them. Trust God.

1 Like

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:06am On Jan 12, 2025

Judolisco:
that's 150k per month... Wetin u dey do with d remaining money?

... fuel, house rent nko huh

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:09am On Jan 12, 2025

BrotherJapa:
Not bad but as a man, you have to strive for about two to three streams of income at any given time. Save aggressively invest in a side hobby.

... I get more than two streams of income

1 Like 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:11am On Jan 12, 2025

Kiss10:
Bro give us link to do Ur job we can manage 500k don't worry

... bro no be monthly work oo, na business I dey do I still dey hustle

1 Like 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by femi4: 12:13am On Jan 12, 2025

Jega2000:
... I pay 270k per annum for lodge wey I dey stay for school, and I dey share 2 bedroom flat with my guy for town, rent na 900k so we share the rent half ..

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

1 Like 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:14am On Jan 12, 2025

intruder15:
Are you single or married?

... single I never even plan to marry self

Re: Is ₦650k Monthly Income Not Considered A Good Income? by tunjijones(m): 12:14am On Jan 12, 2025

harjay1986:
That means you buy food every time, if possible find way to cook your own meal, it will reduce to some extent, I earn 300k with three kids and my wife, after every every I still save like 100k every month

Na lie... You can't save 100k out of the 300k.

How much do you spend on transportion every month. How much do you spend on feeding 4 people in a month. ( At least you wld spend 80k to 100k on feeding. That is to say the least o). How much do you spend on electricity bill, your hospital bill, how much do you spend on your children monthly. Abi dem no dey go sch? How much do you give your wife for up keep. How much do you spend on airtime and data? What abt water and security bill? What abt your got/DStv? These are basic thing you need to spend on monthly.

Ordinary meat and chicken, I spend close to 40k every month.

So bros it's not possible to save 100k out of 300k with one wife and 2kids to feed. Except your wife is earning almost as much as you do and she is willing to support you.

5 Likes

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Basicend: 12:16am On Jan 12, 2025*

Jega2000:
... bro no be monthly work oo, na business I dey do I still dey hustle

If you are not a salary earner, with such a monthly income level, you will definitely not be comfortable.

Because it is required that most of much of your income at this stage should be re-invested back into the business for expansion.

I can relate.

Please keep building up your business base, you will rest with time. I believe Tinubu is gradually getting a direction for a stable economy.

1 Like 1 Share

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:16am On Jan 12, 2025

intruder15:
He should have switched to Pure water nau. Cuz a bag is still fair.

... I dey drink pure water naa

Re: Is ₦650k Monthly Income Not Considered A Good Income? by Jega2000(op): 12:18am On Jan 12, 2025

Maitunbi:
Some of you that come online to post this nonsense may God have mercy on you.

All this senseless trolling must stop. 500k monthly income in a country where the average person earns less than 100k and you have the temerity to complain! I can't blame you.

...

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