₦airaland Forum

FireRain:
Weldon sir and I pray that 2018 will be a productive year for your family,regards to Mrs and d kids,all d best.

babythug:
I'm so excited to read these updates! God be with you and your family

77FOT:
It feels so good to be in-charge!

77FOT:
Pictures of the first batch of items bought:-
a) 6 Tubers of yam
b) 1 Basin of garri
c) Sweet potatoes
d) Bunch of plantain
e) 4 Measure of beans
f) 2 Measure of Crayfish
g) 1/2 Measure melon(egusi)

etc....

Agbaletu:
You need to check and ask people, there must be a market that is closer to you to get cheap food stuff. Coming to Mbiama to get this few items does not worth the risk.

Pls, have they fixed the E-W road in Mbiama section?

77FOT:
Hello Fam,

I feel something is wrong with my finances.

Please what can I do differently.


I have been living Pay-to-Pay Check.

Please help review the family finance status outlined below.

Monthly Income: 400k

Monthly Expenses: (on family upkeep):250k

Number of Kids: 4 (Ages: 7yrs, 5yrs, 3yrs and 7month)

Residency :Port Harcourt

Savings: less than 100k

Investments: Nil

Liabilities: 750k (being outstanding balance for 1 Plot of Land I am paying for)

My colleagues who are on the same pay are living better off...(saving,investing,building houses)

Our company drivers earn 50K and I wonder how the cope.


I have considered side hustles such as:

1. Bought "KEKE" and give out as hire purchase. The driver did not fulfill his part of agreement. I sold off the KEKE after some squabbles.
2. Blogging (still researching)
3. FOREX Trading (researching...quite risky)
4. Mini Import (researching...I need help...a mentor)
5. Farming (gave money to a friend for cassava and maize cultivation in Oyo) awaiting returns
6. Produce marketing (Limited capital and time...my 8am to 5pm job won't permit )
7. Investment in Treasury Bills(Limited Capital)

The slim cash flow is putting a stain on my relationship. I feel spending 250k monthly is too much but my feels I am accusing her of spending carelessly.

77FOT:
Hello Fam,

I feel something is wrong with my finances.

Please what can I do differently.


I have been living Pay-to-Pay Check.

Please help review the family finance status outlined below.

Monthly Income: 400k

Monthly Expenses: (on family upkeep):250k

Number of Kids: 4 (Ages: 7yrs, 5yrs, 3yrs and 7month)

Residency :Port Harcourt

Savings: less than 100k

Investments: Nil

Liabilities: 750k (being outstanding balance for 1 Plot of Land I am paying for)

My colleagues who are on the same pay are living better off...(saving,investing,building houses)

Our company drivers earn 50K and I wonder how the cope.


I have considered side hustles such as:

1. Bought "KEKE" and give out as hire purchase. The driver did not fulfill his part of agreement. I sold off the KEKE after some squabbles.
2. Blogging (still researching)
3. FOREX Trading (researching...quite risky)
4. Mini Import (researching...I need help...a mentor)
5. Farming (gave money to a friend for cassava and maize cultivation in Oyo) awaiting returns
6. Produce marketing (Limited capital and time...my 8am to 5pm job won't permit )
7. Investment in Treasury Bills(Limited Capital)

The slim cash flow is putting a stain on my relationship. I feel spending 250k monthly is too much but my feels I am accusing her of spending carelessly.

tallar:
Hello, I am a woman and I manage my home and also try to save and these are the things I do, I hope it can help u.
Meat; I buy a full goat btw 13-18k depending on size (including killing and cutting) not from market women but the slaughter, I buy chickens from farmers directly during off season btw 1k to 1.5k depending on the size 5k total. I portion the goatmeat 30pcs per bag and keep them in the freezer and it can last me for 3months. The chicken I use when I feel like eating chicken stew

I buy rice, palm oil and garri in bulk sometimes vegetable oil(off season too). I just bought rice for 9k half bag and it should last for 5months.
Every Saturday, I limit my spending to 4K (this includes, salt, Maggie half pack, dry pepper 100, G/oil etc)or less for soup and stew depending on the soup I am cooking
For fuel 4500 is what i spend cos I need my freezer frozen due to the meat, chicken and other things I store.
Dstv 1900, water bill 4000, Gas refill is every 2-3months depending on usage. I buy provisions like milo, milk sugar from wholesalers and mostly small satchels or refill packs. 8k. Pure water 3000, data 6k, Airtime 3k.

Most times when price of things have gone up, I reduce the foodstuff I buy. For instance, if yam is expensive I don't buy, I substitute with plantain or sweet potatoes. I try to maximize the cash I have as much as possible and most times I end up not spending up to 100k in a month.

Pls tell your wife that you are in debt and that the company has decided to cut your salary. Therefore her upkeep money will be reduced from 250-150k. Then give your bank a standing order that as soon as you get paid they should deduct 150k into an account that you can't withdraw from till end of the year. This way you won't have spare cash to help all and sundry but u will have substantial savings by year end. Also encourage your wife to save telling her that as the economy is getting bad u need her to save so she can stand on her feet Incase anything happens to u or your job. Nobody knows tomorrow. Wish u the best.

DonBobes:
My wife drew my attention to dis ur topic n plights. M afraid I have somethings to discuss wit u concerning DISCIPLINE etc. u need it but i am not forcing u to hear me out. I reiterate U NEED IT.
I have an account on Facebook QUEEN TANYA or TANYA QUEEN. I will commit myself to u for two days because i am a busy man. Its not by force I still reitorate.

You should send me TEXT TO START. I SAT DOWN TO LIST OUT MY POINTS TO DISCUSS WIT U. U need it

DonBobes:
My wife drew my attention to dis ur topic n plights. M afraid I have somethings to discuss wit u concerning DISCIPLINE etc. u need it but i am not forcing u to hear me out. I reiterate U NEED IT.
I have an account on Facebook QUEEN TANYA or TANYA QUEEN. I will commit myself to u for two days because i am a busy man. Its not by force I still reitorate.

You should send me TEXT TO START. I SAT DOWN TO LIST OUT MY POINTS TO DISCUSS WIT U. U need it

77FOT:
Thanks!
I will contact you on FB

77FOT:
@ DonBbes:

I need all the help I can get.

What number do I send the text to?

Thanks for the offer to help.

77FOT:
Hello fam,

Thanks for all the wonderful inputs.

I find myself reading through all the over and over again.

I must confess all your advises are thoughtful and well balanced.

Update:-

It feels so good to be in-charge!

I am not there yet O

Na investments and side hustles I dey look for now!

As a follow-up to the great input from everyone here and my desire to make a change....

1. November 20th, 2017: I searched for my" The Richest Man in Babylon" I couldn't find it so I opted for the audio version on Youtube.

Menh! that book something else. The first chapters of the book was very revealing.

What?! I saw my life in the main character.
That was a mirror of my the state of my finances.

I also saw that my concerns are not new and are not particular to me.

And that I was not bewitched.



2. November 28th, 2017: I formally informed "Mrs." that the monthly transfer of 250k will not happen for December.

Her reaction?

Just Ok and was well managed.

To be candid occasionally,I feel like venting my frustration over this financial mess on her but I just keep my cool.

I understand that to be in this mess is bad enough....I don't want to make an already bad situation worse by allow the financial mess to cause cracks in my relationship with her.

The fault is not all hers. I also share part of the blame.


3. November 5th, 2017: Took a day off from work and off we went to Mbiama Weekly market.

It was an experience:
With 60k we were able to buy all the food stuff that we needed for the month(except rice)

Learnings: Stuff are repetitively cheap but Mbiama is too far from where we live in PH, going-forward will try Oil Mill Market in January 2018

4. November 6th, 2017: Gave Mrs. 100k...(50k for Baby and 50k for general house keep)

5. November 11th 2017: I made a list of all request for financial assistance: Total:260k... I gave out 40k....I beg I can't save the world!


Till watching how things play out.

Revolutions:

I am determined to start paying myself at least 10% of my income in-line with what I learnt in the book"The Richest Man in Babylon"

helovesme:
You’ve done really well so far.

Remember to stay focused.

That said, investment/savings nko? What have you done with the extra cash (no matter how small ) that you’ve managed to save this month ?


Do not leave idle cash in your bank account as it’s easy to fall into the temptation of spending it. Get your spare funds locked up in an investment product pending when you decide what you want to do with the bulk funds.

I mentioned the MM Fund. Have you thought about it ?