₦airaland Forum

Nefort:
Stop converting to foreign currency. We don't use dollars and pounds. The main thing is the purchasing power. The purchasing power of that amount in Nigeria isn't so bad. But it will be terrible in the US or UK.

Ashawoman82:
is it every month a single guy would be buying bag of rice.. Una too mumu.. A lot of u
even earn close to that but una dey survive..

The conversion is for the benefit of those abroad.
Remember, all those destitute and homeless people you see are also abroad. Some people abroad are NOT making any money at all. But we never see them because they never visit home. We only see the fairly successful ones

50k is not enough salary. That one de finish before 2 weeks. The best thing is to earn in USD

It depends where u dey stay, though the money no really big like that , but if u dey single without much responsibility u go manage,
House rent- 500k-700k per annum selfcon or a room and parlour..
Feeding- 50k- 70k..cook your food at home no buy for restaurant,...
Fuel for car if you have -100k..
Light bill-30k monthly..
Upkeep-50k monthly
Others-70k monthly..
Save-150k-200k monthly at least..
If you're married make sure your wife is gainfully employed otherwise u go cry...

Kingozymandias:
How can I go about doing this ?

You can DM, I'll guide you on how to go about it

It's not peanut as a start bro. If the person adds another skills, there is chance of pay rise

femi4:
For IT job, that's peanut

It is well

PinkNature:
Not big per se. It's an ok" salary

Bag of rice is not 100k

QuinQ:
Well, because bag of Rice costs 100K, add ingredients, provisions, medications, transportation, fees, NEPA, rent. LAWMA, DSTV, etc

nairalee:
I know a guy wey dey collect over 3m a month yet e dey broke before month end. Whenever this guy dey complain I go just dey look myself for mirror dey shame.

You sure say that guy no dey patronize some classy olosho. 3m is some people yearly salary.

zionstaar75:
bloody liar!people just come here and type rubbish. I have 2 kids, I live in ilorin, kwara state and with 200k I get everything we need including cereals, we still buy like 50k meat and pepper though. Hungry people living on garri will just come here and be typing rubbish. I'm a landlord and don't pay rent so I know nothing about that.if you choose to club and womanize that's your cup of tea. A family can feed well on 250k

bros how u take build house with that salary?

Its called demand and supply. Whenever there is a skills shortage in a particular field, then those in that field can walk out of a job today and get another job the next day.

Nefort:
It's not easy getting those international roles. The competition is really tight because many people have gone into tech after it has been promoted as a means to get a rewarding career. Only few developers will get those high pays. The rest will have to settle for crumbs.

Stop assuming and tech roles aren't for developers only, there are non coding roles currently in short supply globally even the UK has some of them on their skilled visa list that was released this year. Anything from $1200 is great in my opinion for a remote role and it is nothing near what people in USA or UK earn monthly.

janeedema:
Seriously?

N550,000 * 12 = N6.6m

N6.6m * 6 years = N39,600,000m

Are you saying a tokunbo vehicle costs at least N39,600,000m?

Like I know people lie, but this your lie is so unintelligent.

A 2015 direct tokumbo Mercedes ml 350 (non accident) is about #30M .

DeepSight:
Makes even less sense when you consider that even after conversion, cost of living is different in each place. The converted sum does not buy in those places what the naira sum buys in Nigeria or vice versa.

That's why I simply laugh when I hear people talking about how the Cedis and others are "now" bigger than the Naira...


SMH

Iseddy:
Death trap... For your mind naso trading easy abi. Dey play

No Naaaaa.... in forex trading... no greedy.... once u will 200 dollars profit with starting capital 1.5m, u closed for that day....

2. If u are trading with 100 to 500 dollars as starting capital..... once u see 30 to 50 dollar profits, closed for that day....

people that lose money in forex trading, is those people that trade greedy because they are looking for much profits....

so dont trade greedy.....

Kingozymandias:
I earn almost 1m monthly (very close) yet I get broke after week 2. Omo this country is finished.
.the amount. I have to dash monthly from beggy beggy friends is too damn much.

Are you married?
Check your spending, actually our country is in mess right now but 1m is a money that you don’t need to go broke within 2weeks unless you have tasted 10m as salary before

QuinQ:
Well, 550K is about $400
Very good but not great

When did we start spending dollars in Nigeria?

Don't live above your means. Cut what you can't sustain for now and figure out how to generate more income. By the end of one year hopefully your status has increased and you can afford more things.

550k is not a lot but it is certainly nothing to be discontent with

SocialJustice:
Stop assuming and tech roles aren't for developers only, there are non coding roles currently in short supply globally even the UK has some of them on their skilled visa list that was released this year. Anything from $1200 is great in my opinion for a remote role and it is nothing near what people in USA or UK earn monthly.

I used developers as an example and it still doesn't change the fact that it is difficult getting any kind of tech job remotely and you get paid in dollars.

Acidosis:
Although Nigeria is in a bad shape, 550k is still great. More important is that we all have to live within our means. The value of money lies in how wisely you use it to meet your needs and achieve your goals. The figure is secondary.

E.g., a good pair of shoes (not necessarily a branded original) typically starts at around 70k in Idumota. But, you can still get a good quality, custom-made pair from a local shoemaker in your neighborhood for half the price. Again, the value of money lies in your hands.

Before you spend 20k eating out at one sitting as a single guy, think about paying a caterer to cook same food for you in your house. You will get more quantity (large enough to store), better taste, more value for your money, and better hygiene. Again, the value of money lies in your hands.

You have spoken well wise one

Acidosis:
I don’t have a specific plug for shoes. The last time I was there, I randomly asked people for directions after explaining what I wanted. Be very specific, though (e.g., original, quality leather shoes, not imitations) to avoid unnecessary trekking. You can add "wholesale" to your description, and by all means, avoid those "Mandillas" boys. They're only after their commission.

Where in Lagos are you based?

Yaba, I wan even open beer parlor sef and I know it's tangential but I have a feeling you'll be able to give me sound advice

NwaliE01:
I earn between N10 -11m. It depends on some weeklies

Which job earns u 10-11m monthly 🤔🤔🤔

I earn about 4m naira monthly, but honestly it's still small and I hardly save anything at the end of the month.


This country sha

Englishisamust:
I have this my friend. He is a single tech guy. Just got a job of 550k per month. The guy was like the money no freak he dey too small.. Omo I won first slap aam say make I tell am how many people that are collecting below that amount as salary.. I just dey envy the guy... I wish I can be like him.. . Omo tech guys dey make moneyooo!!!

It's still small. The most important thing is that if you are earning such an amount as salary, you should start earning similar amount in your personal business. That way, you won't have issues if you stop working.

Englishisamust:
Why is it not a great salary..

100k goes to fuel for vehicle monthly. 50k house rent, 50k to thank God, feeding of a family of 4 200k, 150k for savings or investment, no money for vehicle repairs, paper renewal, utility Bill, medical expenses, to send to family members etc. you can see that the money is not enough.

Shegzdave:
When did we start spending dollars in Nigeria?

Believe it or not, there are people here who don't reside in Nigeria. It's for their benefit

crossbreedwears:
Bag of rice is not 100k

See below

Nefort:
I used developers as an example and it still doesn't change the fact that it is difficult getting any kind of tech job remotely and you get paid in dollars.

OK I understand. Nothing good comes easy. One has to persistent in job search always.

Please come to my area and get a bag of rice below as 70k. I can give you link bro

QuinQ:
See below

Are you sure? for a family!

magicminister:
Thats 6m per year. It is more than enough for a family sef

What do you mean by doing something?

philipobiz:
If he is not doing something economically/financially tangible, then he is not wise, but a nincompoop

How you take save 10k, you nor dey pay transport?

DeAnonymousGuy:
How i take dey survive with 65k monthly i no know. I still dey do 10k monthly savings inside. It can only get better 🙏