₦airaland Forum

Depends on your lifestyle and location.

Op





500k salary in Nigeria of today?








Maybe NNPC or NURTW worker's

Not possible in Lagos and abuja

Hmm good talk

Beeron:
It use to, but not anymore, Nigeria inflation is currently at 15% as released by the CBN last quarter.

While core inflation seems to cool off, food inflation is still very much sticky, when you factor that in to a family of 4 (an average family in Nigeria), you would realize, food takes a huge chunk of that 500k, not to mention other home expenses and operational cost for running the house.

It will be advised for the wife of a man who earns 500k to get her hands busy with a business or job to support her husband because if the man continues within this pay range and home economics keeps expanding, and the country inflation keeps worsening, then the man will definitely do things that will cut his life short either through hight blood pressure or get caught compromising standards to make ends meet and cater for family.

[/quote][quote author=exper post=140656463]Is ₦500,000 monthly salary enough to live comfortably in Nigeria today?

Let's be realistic.

Imagine someone earns ₦500,000 every month.

They have to pay:

- Rent
- Food
- Transportation
- Electricity
- Data
- Family responsibilities
- Unexpected expenses

And they still want to save and invest.

How much do you think this person can realistically have left at the end of the month?

If you earn around this amount, how do you manage your money?

Let's hear the honest numbers.

Income: ₦500,000
Expenses: ?
Savings: ?
Investment: ?

No insults. Let's learn from each other.

I think it's only in Jos Plateau State u can live comfortable but where will u see the job that pays that amount

Nigeria's labour market needs a total overhaul! We need to start paying hourly wages so that people are paid based on the number of hours they put in on daily basis. Also, workers should be allowed to keep multiple jobs provided they get paid based on the number of hours they put in.

Alternatively, government should increase minimum wage to at least 500k so that workers can earn what would sustain them for the month. The current system is not working! This is why many people now resort to cutting corners and taking bribes to make ends meet.

I’ve come to realization that the more money you earn, more responsibilities and tastes comes your way. It’s a natural phenomenon

When I was earning about 680k monthly around 2014, I ensured I kept my monthly expenses to around 300k and saved the rest.

But men as person don Dey earn eight figures monthly, tastes and wants don increase.

It takes a discipline person to be frugal when he or she is earning lot of money.

Bet dey collect quarter of my salary

My concern family responsible

Stephen0mozzy:
The reality of most Nigerians is #70,000 a month or less.

Note: Comfortably and Expensive are not necessarily the same.

Make una give me work make I for dey earn this o... God when. I live in Benin, here's how that kind of earning can be spent COMFORTABLY

- Rent + Utility Bills: #60,000 monthly (POP Room/Parlor Self-Contain)
- Food - #80,000 (I sabi cook)
- Transportation - #30,000
- Data - #25,000 (Airtel Unlimited)
- Family responsibilities - #50,000
- Unexpected expenses - #40,000
- Dates and Random enjoyment - #30,000

Total: #315,000
Savings: #185,000

(Assuming you don't go to clubs, or carry brostetutes)

Okay nah ask them

Okus114:
Where person wan see the 500k work so?

Jman06:
Nigeria's labour market needs a total overhaul! We need to start paying hourly wages so that people are paid based on the number of hours they put in on daily basis. Also, workers should be allowed to keep multiple jobs provided they get paid based on the number of hours they put in.

Alternatively, government should increase minimum wage to at least 500k so that workers can what would sustain them for the month. The current system is not working! This is why many people now resort to cutting corners and taking bribes to make ends meet.

Only government can pay civil servants 500k. Is it the fuel station that will pay the attendants 500k? Is it the sales girl in that small kiosk that will pay 500k? Is it the receptionist in that printing shop that they'll pay 500k?

Mind you government employs less than 2% of the national population.

anonimi:
What percentage of Nigerians earn 500k?

Can we start with this question first?

Your question is not relevant. The question up there is valid. After ascertaining whether 500k is comfortable or not, then we can then draw up the conclusion to either say that Nigerians are enjoying or suffering so much.

In today's Nigeria? NO

Ask Tinubu, Shetima and APC members

Artsbeat:
My concern family responsible

The breakdown is for a single man 😅

500k is behaving like 50k

RealLordZeus:
Was just about to type this, if you have a car, no matter how good you are with fuel eonomy, you will be spending nothing less than 200k monthly on fuel

It will be more than that, except you just go to work, park the car and drive back home, no outing through out the month.

Yahoo boys have made that money look like nonsense.

Bahamas95:
Una go just come online dey cap nonsense!


How many people dey see dat amount monthly for Nigeria?

My Brother, see as I open mouth wide.

E be like sey na every market day them dey regurgitate this rubbish. Some people don already start to dey lie full ground.

One person said he spends 400K monthly to fuel car? Hian? Na Heaven you dey drive to every day?

Make me I just fold my arms, spread my leg dey read lies upon lies. Wetin concern my Agbero with overload?

#Picks_tooth

It a black man mentality things.

Have you ever seen a white man impressing you with his money? Most white billionaire will put on short and polo and hit the street, live normal and simple life but black man, noise is always too much like DO YOU KNOW WHO I AM? oppression and the rest.

Taking about thief priest, blord, etc

fashrola:
I’ve come to realization that the more money you earn, more responsibilities and tastes comes your way. It’s a natural phenomenon

When I was earning about 680k monthly around 2014, I ensured I kept my monthly expenses to around 300k and saved the rest.

But men as person don Dey earn eight figures monthly, tastes and wants don increase.

It takes a discipline person to be frugal when he or she is earning lot of money.

The same uzless recyled question always.

Minimum wage should not be less than 1.5 millions.

Stephen0mozzy:
Only government can pay civil servants 500k. Is it the fuel station that will pay the attendants 500k? Is it the sales girl in that small kiosk that will pay 500k? Is it the receptionist in that printing shop that they'll pay 500k?

Mind you government employs less than 2% of the national population.

Those who cannot afford to pay ₦500k should pay hourly wages and employ people on part-time basis. This will enable people to hold multiple jobs and earn living wages. It is evil to have people doing 9-5 jobs, 5days a week and 22 days a month only to be paid peanuts at the end of the month.

silibaba:
It a black man mentality things.

Have you ever seen a white man impressing you with his money? Most white billionaire will put on short and polo and hit the street, live normal and simple life but black man, noise is always too much like DO YOU KNOW WHO I AM? oppression and the rest.

White man billionaire riding bicycle to work, black man millionaire driving limo to work

APC has really made people poor, like 15 years ago my salary was much more than this.Ticket to London was less that N90k. Toyota corolla was about N800k for grade A tokunbo.

Depends on if u have dependants

Only u?

E go still reach u,but u go too manage

But if u mistakenly get dependants,even if na 1 Omo e no go reach o

Depending on the state... OF COURSE


You are a big man

Angelfrost:
Any Nigerian earning such an amount and not living in comfort is clearly punching far above his financial weight.

That's an income over 70% of working Nigerians can only fantasize about.

Many of you just come online to pretend and needlessly grandstand.

70% is too much sef.
According to the NBS, only about 5% of Nigerians have 500k and above in their accounts.

Take into account that there are over 200 million people in this country. NBS is a government institution, so there's a possibility that the real numbers might even be worse.

I really wish I had one

geoworldedu:
Your question is not relevant. The question up there is valid. After ascertaining whether 500k is comfortable or not, then we can then draw up the conclusion to either say that Nigerians are enjoying or suffering so much.

How can you conclude on the basis of 500k earning, without knowing if less than 1% are in that category?

What kind of balablu bulaba clueless reasoning is this?

If you're alone yes, if you're married to a simple woman yes, but if your wife has a costly lifestyle and can't make do with simple common things then no