Contentment and planning

i think although 150k is not much; one can survive with it especially if u re living in the following areas:-

LAGOS:- Downtown lagos--- mainland: egan-igando; iyana paja down; iyana iba down; mowe ibafo etc.. ISLAND--- Lakwe down; badore inside Ajah

other nothern states esp. Abuja; even some SW states like ekiti; Osun; are not too expensive..

then pay local food more instead of can imported food; these areas are close to farms; so can buy freah healthy food from farmers.

also schools are chaep in those areas; u can b teaching r kids on wkends to help upgrade their educations.

but it will never be enough if ure staying anywhere around these areas; Ikota/lekki/surulere; Egbeda; ogba; mile 2 etc etc..

gadgetsngs:
150k isnt bad .Is not Npower Paying guys 30k and they still come online to rejoice

how dem dey do npower sef. who fit qualify

ndividual:


Here's my take on it : How much minimum would you need live ideally?

I'm using the dollar as my reference, so:

Before inflation : $1 = 160 Naira
Now : $1 - 360 Naira (225% Increase)

Therefore, to get the same value of 100k before inflation time in present day, you would need to be earning 225,000

Assuming you're putting aside money for rent monthly (lets say 800k divided by 12 months), 66,000

Feeding expenses are usually anywhere from a quarter of your income to half. Choosing half of 225,000: 112,500

Transport? Assuming 30% of 225,000 : 67,000

Adding all of this, we have a total ideal of N470,500


Now, Ask yourself, what level/position within your company would you need to be to be earning that?

While you're asking yourself, lets convert this to dollars at N360 per dollar. That's[b] $1306 a month.[/b]

If you check salary benchmarking sites in others countries you may find out what they earn monthly is way above that.

Example :

Nigerian Salary for Front web developer (approx) : 60k ~ 240k ~ higher which in US dollars is[b] $166 ~ $240 per month[/b]
Arabian Salary for Front web developer (approx), the amount in US Dollars is $1000 to $2000

Conclusion

If you take the lowest amount in an arabian country ($1000), and convert to naira, you'll see its barely enough to sustain you based on our ideal income

We live in a country where we need to almost out-earn international counterparts to put body and soul together, but our economy can't afford to pay us our worth.

At times I wonder how people reason, must everyone in life be rich as Dangote or Otedola before they can claim to be ok, I read from your post that house rent = 800,000 is it a must he rent an apartment as high as that? I have a friend staying at Maraba/Yanya Abuja and he is not paying upto 130,000 for his 2 bedroom apartment and moreover most people that work in Abuja stay/reside in the said area. What matters in life is planning and contentment, we can not all go to private schools and Infact there are still private schools that pay less than 50,000 per term and remember we have 3 term in a year which the Op one month salary can handle and if he is staying in a house not more than 150,000 per year he is left with 10 months salary plus his side business to plan, eat, save and do other things.

Salaries? In January 2017, I hustled money to arrange drivers license so as to earn something higher than 15k a month, with a not working, live in baby mama in tow. In March, my wish was granted I got a 40k driver job in a location close to home. I work late, I work Monday to Saturday, I am depressed, from my larger than previous salary I can't buy myself a shirt, I still dress in my rags to work. Salaries are the reward in a permanent rat race, only those who break out of the box end up well.

Quincyolarks:
Salaries? In January 2017, I hustled money to arrange drivers license so as to earn something higher than 15k a month, with a not working, live in baby mama in tow. In March, my wish was granted I got a 40k driver job in a location close to home. I work late, I work Monday to Saturday, I am depressed, from my larger than previous salary I can't buy myself a shirt, I still dress in my rags to work. Salaries are the reward in a permanent rat race, only those who break out of the box end up well.

Well-done but your so called baby mama should not just sit idle doing nothing, if she is a graduate she can look for a teaching Job no Matter small she earn she will have something to support you with at the end of the month.

jojothaiv:
1.2 million, o boy we get rich people for nairaland o!
That amount is enough for me for a year!

abi?

Sard:


This is the best advice everyone viewing this thread should not overlook.
However, why people lie just to soothe their ego on a faceless forum like this is what I don't understand.

I tire oo,,the one guy say 1.2 million no dey reach am,,,na thunder go fire am

gozie112:
I tire oo,,the one guy say 1.2 million no dey reach am,,,na thunder go fire am

amen to that bro!

officialfestus:
amen to that bro!

dem just dey cause depression for Person here,,nonsense

gozie112:
dem just dey cause depression for Person here,,nonsense

nor mind dem....the thing just tire me.....I dey money find money to take sort something next month....nahim one m0nkey they say 1.2m nor reach am use a month

sgtponzihater1:
Few month back I got a job of a little close to 150k and I came to nairaland rejoicing, few weeks from then I had rejected a job of 100k. This job promised to raise my amount by about nearly 30k if I stay a full year, then promote me every 2years afterwards. I however don't feel I am earning enough and I'm always at the verge of quitting and facing my many innovations, as I currently run several side stuffs to keep my self afloat. I however get home at times 10pm (though close 3pm, at most 4pm) and I mostly have to be at work by 8am

How much money is enough money for a married man with one kid. I was discussing with a colleague today and he kept complaining how he can hardly get by. I also told him I only remained because the job gives a steady source of income and also helps me pursue what I studied in school. It also helps me learn the experience of being able to sustain a private business, as the company has survived for over a decade.

Give ur views as to what a good pay in the current economy.

Sgt Ponzi Hater

My dear, it is not easy. I earn double of what you earn and I still find it difficult to save. Although I don't have kids yet, it is just me and my wife but there are other responsibilities from parents, my younger ones etc. So my advice is that someone should just managed to live within his/her means.

Odilafta1:
Money is never enough.
Management and contentment keeps you from brokeness and desperation.

great comment, if you cant save from 50, you definitely cant save from 100. As your income rises so does your challenges

LaurelP:


What's the side business that you run?

Several. I have a mini-super market, run a sport betting biz, have a partnership with some fuel stations, and do stocks, mutual funds, treasury bill and have some bonds.

from 1M naira salary can be enough in this economy

YelloweWest:
A lot of salary.
I really feel bad for salary earners.
Source for alternative forms of income.

Shut up

Ichietome:

Shut up

Why not state what u disagree with?

Lack of proper training and education I guess

Smh...

jay7:


Well-done but your so called baby mama should not just sit idle doing nothing, if she is a graduate she can look for a teaching Job no Matter small she earn she will have something to support you with at the end of the month.

Easier said than done. Me that is looking for a teaching job. Started from July and submitted in over 30 schools here in Ph. Only gone for one interview, yet to hear from them. Do you think it's easy? The way people talk as if it's easy to get a teaching job make me laugh. Even with all my experience, qualifications

jay7:


At times I wonder how people reason, must everyone in life be rich as Dangote or Otedola before they can claim to be ok, I read from your post that house rent = 800,000 is it a must he rent an apartment as high as that? I have a friend staying at Maraba/Yanya Abuja and he is not paying upto 130,000 for his 2 bedroom apartment and moreover most people that work in Abuja stay/reside in the said area. What matters in life is planning and contentment, we can not all go to private schools and Infact there are still private schools that pay less than 50,000 per term and remember we have 3 term in a year which the Op one month salary can handle and if he is staying in a house not more than 150,000 per year he is left with 10 months salary plus his side business to plan, eat, save and do other things.

I was going to jump on that post your replied to. It's not practical to calculate income and expenditure across countries the way he did.
A loaf of bread here cost 1000 Naira, the question is does it cost 1000 Naira in Naija.
I don't have much time to elaborate on what is wrong with his calculations, I believe if you earn 150k monthly today in Nigeria you should be fine and not die of hunger.

If you are married with one wife and one kid, no need trying to save other dependants, you need to tell them to go start something for themselves because your primary responsibilities are your wife and kid.

Rent/utilities: 20k monthly (150k rent per annum and 90k for utilities per annum = total 240k)
Auto /Transportation : 21,750k (50liters tank x 3 times a month @ 145/liter)
Child Care: 20k (includes pamper, baby oil and other sundry)
Clothing for 3: 15k (you can shop for clothes every 3rd month @ 45k for 3 people)
Entertainment/social/dining out: 16k (4K per week)
Groceries and food stuff: 35k
Fitness: zero Naira (free jogging on the street and home cardio work out)
Hobbies: find inexpensive hobbies or free hobbies like pokeman go....Hahahaha, seriously look around you there are free hobbies
Household Maintenance: 7k (fixing things in the house, learn to be handy and get to work, many DIY YouTube videos at your disposal)
medical/dental: 15k
Investments/saving buffers: 10k
Miscellaneous: 5k
Subscriptions: 10k (tv, internet and phone credits)
Fuel for generator: 15k
Vacation: 5k
Car maintenance: 10k monthly

Grand total : 204,750 Naira ..... this should be a reasonable monthly family budget of 3, so broda you need to find a side business to earn like 50k more monthly....200k monthly should be ideal to live an ok life. I hope I'm not missing anything out?

Odilafta1:
Money is never enough.
Management and contentment keeps you from brokeness and desperation.

This answers the question. No one can make you happy except you and you alone. MANAGE WELL AND BE CONTENTED

abnot:
I'm not sure how one can survive on 150K in abuja or Lagos. In 2015 I was making 202K a month (Not paying rent) and I was more buoyant. I use to go out lounging or clubbing every friday evening, I was using cabs everywhere I went to, I had a gym membership, DSTV was always active , i flew to abuja and accra very frequently for weekends and I never ran short of fuel on my GEN.

Today with that same amount (I now own a car also) I no longer find it affordable to maintain my gym membership, my dstv subscription is off/on, I only buy fuel for my car and I find it difficult to buy flight tickets for mere leisure sake.

Bottom line, the naira has lost its value by more than 30% over the last two years.

Mr. 150k is enough for a man with his wife and a kid, are you sure you are living well ? Because many people in nigeria dont seem to know the meaning of living well due to their long exposure to hardship and sufferings.

I tried to ignore you but I couldn't
Mr live right,the OP actually asked for people's opinion on what an ideal salary is for a married man and he didn't call you out to analyze what living well means.To even think no one can boast of living well in this country
If a man who is prudent feels 150k is enough to take care of his family,then why can't you swallow your opinion of 150k not being enough because you are not prudent?
Are you living well?
Obviously, No! but you think you are .......
Please don't get me angry

yemmit90:
A man collecting 150k/month with a wife and just a child coming here to complain is simply seeking for attention.

150k is more than enough for family of 3 to live comfortably even if your house rent is 30k/month.

i think he just got the job and he is coming here to show off and intimidate those who dont have at all

singleosy:


Easier said than done. Me that is looking for a teaching job. Started from July and submitted in over 30 schools here in Ph. Only gone for one interview, yet to hear from them. Do you think it's easy? The way people talk as if it's easy to get a teaching job make me laugh. Even with all my experience, qualifications

I understand you bro and i know there is a brighter day ahead if not for capital i for suggest something that can feltch her income with 100,000

olaboy1:


I was going to jump on that post your replied to. It's not practical to calculate income and expenditure across countries the way he did.
A loaf of bread here cost 1000 Naira, the question is does it cost 1000 Naira in Naija.
I don't have much time to elaborate on what is wrong with his calculations, I believe if you earn 150k monthly today in Nigeria you should be fine and not die of hunger.

If you are married with one wife and one kid, no need trying to save other dependants, you need to tell them to go start something for themselves because your primary responsibilities are your wife and kid.

Rent/utilities: 20k monthly (150k rent per annum and 90k for utilities per annum = total 240k)
Auto /Transportation : 21,750k (50liters tank x 3 times a month @ 145/liter)
Child Care: 20k (includes pamper, baby oil and other sundry)
Clothing for 3: 15k (you can shop for clothes every 3rd month @ 45k for 3 people)
Entertainment/social/dining out: 16k (4K per week)
Groceries and food stuff: 35k
Fitness: zero Naira (free jogging on the street and home cardio work out)
Hobbies: find inexpensive hobbies or free hobbies like pokeman go....Hahahaha, seriously look around you there are free hobbies
Household Maintenance: 7k (fixing things in the house, learn to be handy and get to work, many DIY YouTube videos at your disposal)
medical/dental: 15k
Investments/saving buffers: 10k
Miscellaneous: 5k
Subscriptions: 10k (tv, internet and phone credits)
Fuel for generator: 15k
Vacation: 5k
Car maintenance: 10k monthly

Grand total : 204,750 Naira ..... this should be a reasonable monthly family budget of 3, so broda you need to find a side business to earn like 50k more monthly....200k monthly should be ideal to live an ok life. I hope I'm not missing anything out?

You're not missing any necessity. As a matter of fact, it's possible to live well below that #204k in many parts of the country. Even with a family of 3, #120k is good enough in many places in SW Nigeria, except Lagos.
I know a lot of families with educated, prudent and lovely couples who, though not satisfied with their current condition, are living a 'good' life with love.
Prudence is the key. Even with a million naira monthly income, you may still live like a pauper if you're living above your means.

EVILFOREST:
400k per month should allay fears for now
Cos my 310k is now useless....though from 2 jobs.

400k will not allay your fears

Giannakopoulos:
Most people saying minimum of 350k, 250k etc are not employed. You need to know that 60percent of working class Nigerians are on average salary of 60-150k per month. Do not limit your decisions to social media comments.

According to statistics, only 5% of Nigerian adults earn above 70k a month.

Sard:

You're not missing any necessity. As a matter of fact, it's possible to live well below that #204k in many parts of the country. Even with a family of 3, #120k is good enough in many places in SW Nigeria, except Lagos.
I know a lot of families with educated, prudent and lovely couples who, though not satisfied with their current condition, are living a 'good' life with love.
Prudence is the key. Even with a million naira monthly income, you may still live like a pauper if you're living above your means.

Your response is short and catchy there are things you don't pretend to be when your income is still struggling, like the subscription he mentioned why pay 10,000 on subscription when we have dstv 1800 subscription a month which have basic channels, feeding is something you eat when you are hungry if not for the hike in foodstuffs a family of 3 cannot eat/finsh a half bag of rice in 2 months and half bag is around 8500 to 9500. all am saying is one should not try to play i gats to belong when you are still struggling to grow, I am not from a wealthy home neither am i from a poor background but i have friends who are struggling with life serving along side with them really thought me so many things about life.

Florblu:



I tried to ignore you but I couldn't
Mr live right,the OP actually asked for people's opinion on what an ideal salary is for a married man and he didn't call you out to analyze what living well means.To even think no one can boast of living well in this country
If a man who is prudent feels 150k is enough to take care of his family,then why can't you swallow your opinion of 150k not being enough because you are not prudent?
Are you living well?
Obviously, No! but you think you are .......
Please don't get me angry

Living well is relative. What you may consider as prudent living may be luxury or poverty to me. Lot's of people are living well in Nigeria Sir. Don't make the assumption that no one is living well. Anybody that has access to basic infrastructure and services is living well. If the transport system is bad one can complement it with a landcruiser and get immune from most of the rough roads. In Milverton some people tend to even forget that nigeria is experiencing challenges in the area of electricity.

My opinion on 150k a month was based on my knowledge of the cost of housing, tuition fees, healthcare and other neccesities in Lagos.

Giannakopoulos:
Most people saying minimum of 350k, 250k etc are not employed. You need to know that 60percent of working class Nigerians are on average salary of 60-150k per month. Do not limit your decisions to social media comments.

Thank you ooh. I just they observe them.

jay7:


Your response is short and catchy there are things you don't pretend to be when your income is still struggling, like the subscription he mentioned why pay 10,000 on subscription when we have dstv 1800 subscription a month which have basic channels, feeding is something you eat when you are hungry if not for the hike in foodstuffs a family of 3 cannot eat/finsh a half bag of rice in 2 months and half bag is around 8500 to 9500. all am saying is one should not try to play i gats to belong when you are still struggling to grow, I am not from a wealthy home neither am i from a poor background but i have friends who are struggling with life serving along side with them really thought me so many things about life.

You're so right.
I'm doing financially okay too, but I know people who earn more than me and are struggling.
Even when I was an undergraduate, a friend, who used to get double of my pocket money, used to borrow from me. Since then, I've realized that it's not how much you earn that determines what will satisfy you, but how well you can manage your income.

udemejack:
see as people dey mention 300k while i am here roaming the street of calabar looking for even something of 20k to support my education.
Please if you have one you can help a brother.you will definately safe a life through this.
Thank you

omo this town no easy ooo

omoneg:
Choi Bros. Connect me na.
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Higly analytical. Just to mention but a few.�������

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