₦airaland Forum

Please kindly advice on the topic.

so for 3 months, you're basically working for your rent!

Can you save 250/12 of your salary monthly for rent?..are you living far from the work place which results in high cost of transport? Lunch at work? Assuming you eat 010...... Do your maths well ...

My advise go for a cheapest accommodation for now or get a flatmate

Sure

Financial suicide.

self con is better

Goodplace:
Please kindly advice on the topic.

This info is incomplete

Of course you can rent an apartment of 250k with 80k monthly salary. However you'll have to consider other things.

Feeding - how much it would cost you to eat every month. Do you buy your foodstuffs in bulk or you buy your meals from an eatery.

utility bills -Light , water, lawma etc.

Transport fair to and from work everyday

Dependents- parents, siblings , cousins , girlfriend(s) etc.

Savings- as a salary earner, you must save up part of your income. This will help you ,in case you loose your job or have an emergency

Get a piece of paper and a pen. Write all these expenses out. Calculate it.

Then, from whatever is left, calculate your rent. you'll know if you can afford all these expenses every month (comfortably) or if you have to tweak some things in your budget.

Remember, a monthly and yearly budget is very important if you want to live a stress free life.

Goodplace:
Please kindly advice on the topic.

Like generationz said consider other bills and stuffs on your if you can't post it online, not everybody likes posting their stuffs.... But also consider a self con like another fellow mentioned earlier..... Flatmates NO ... I do not concur to that like a NO NO

Goodplace:
Please kindly advice on the topic.

Financial rule 5: Your rent should not be more than two times your monthly salary.

Salary: 80k

Your rent should not be more than 160k/yr

jaybros:
Can you save 250/12 of your salary monthly for rent?..are you living far from the work place which results in high cost of transport? Lunch at work? Assuming you eat 010...... Do your maths well ...

My advise go for a cheapest accommodation for now or get a flatmate

Cheaper rent sometimes will cost you more.
If u pay 250k rent for 80k job..and u pay less dan 200 transport with free lunch with no demanding girlfriend, you're fine. Comfortable house and less stress on d road will make ur brain work well to grow and more likely you can be fortunate to have a better job based on connection and information.

femi4:
Financial rule 5: Your rent should not be more than two times your monthly salary.

Salary: 80k

Your rent should not be more than 160k/yr

This rule does not work in Lagos. You need to consider distance from your place of work and transport fare.
Some people wake up 4am every morning and travel for 3 hours to get to the office just because they want to save on rent..

They will end up spending more on transport and their health..

I have heard that rent should not be more than 20% of yearly income. I think it might be too expensive for you at this time, but if you value good accommodation more than clothes or, alcohol, and other considerations, you should totally be fine.

VIRTUAL ASSISTANTS IN LAGOS OR IBADAN WANTED. SALARY: NGN120,000 PER MONTH!!!

https://docs.google.com/forms/d/e/1FAIpQLSf5JcWzyDxpNiRcrjX1ocJpvA9ezWNURmCF2WMQtk2FvJBZvA/viewform?usp=sf_link

Get a roommate

Goodplace:
Please kindly advice on the topic.

Bros na 4 months salary you wan spend for house matta? Who are you competing with? Who are you trying to impress?

Max is 2 months salary. Except you got a side hustle. Even your side hustle profit is for hustle expansion.

Coldplay007:
This rule does not work in Lagos. You need to consider distance from your place of work and transport fare.
Some people wake up 4am every morning and travel for 3 hours to get to the office just because they want to save on rent..

They will end up spending more on transport and their health..

Its a general rule. Why will you take a job where you ll spend half of your monthly salary on transport and two hrs on the road

Coldplay007:
This rule does not work in Lagos. You need to consider distance from your place of work and transport fare.
Some people wake up 4am every morning and travel for 3 hours to get to the office just because they want to save on rent..

They will end up spending more on transport and their health..

Madam, that rule works in lagos wella....It is financially suicidal to be working for 3 months out of 12 for your landlord in a year.

People should stop trying to impress people who don't care....My rent is 200k and I earn multiple of that monthly but I don't care cos I gat no one to impress

I always wish for a rent that is less than my monthly salary

NUJABEZ:
I have heard that rent should not be more than 20% of yearly income. I think it might be too expensive for you at this time, but if you value good accommodation more than clothes or, alcohol, and other considerations, you should totally be fine.

VIRTUAL ASSISTANTS IN LAGOS OR IBADAN WANTED. SALARY: NGN120,000 PER MONTH!!!

https://docs.google.com/forms/d/e/1FAIpQLSf5JcWzyDxpNiRcrjX1ocJpvA9ezWNUR0mCF2WMQtk2FvJBZvA/viewform?usp=sf_link

how true is this Sir

LisaAnne:
self con is better

self con can be 600k in some area you know.



Mr op no do more than yourself if you no get any other source of income 80k is small.

You all have spoken well. But honestly the rent in Lagos is on the High side. When it comes to renting a house, your comfort should be number1 priority, when taking a Job, your basic needs should of paramount importance(transport,savings,feeding and accomodation).

You can rent an apartment for that amount but you need to consider your other budgets (Transport, Feeding and Maybe dependant).

Try consider an apartment of 200k.

A friend of mine earns about 125k and pays 350k per annum for a one bedroom self contain in Ajah.

Thats like 3months salary.

It is much no doubt..But you cant get a nice apartment (self con) in ajah below that price. yes there are some lucky lads that pays 250_300 but honestly the % is low.

The same 350k can get him a two or three bedroom in some areas in the mainland.

Cost, Comfort, Convenience, Ease to your work place is key in getting an apartment.

Suicide mission. Even pple earning 300k on 350k rent struggle to pay up

If you are gonna get a room mate then I think it's fine. At least until u can start earning something bigger

U mean the whole of your salaries for a quarter would go for rent? Do you get free food? Does someone else pay your transport? Are you an only child? Are your both parents dead? Do you intend to be celibate and stay off relationships? Is it a government job where you hope to steal to make up for some deficit?

Above all, are you planning on totally ignoring savings and possibly investments?

Women could do that as they are largely configured for glitz and glam, but Ogbeni why ask this main qweshion?

For this kain Buhari era when jobs dey loss pas the way positions dey open, what if Dem sack you? Wetin you gain?

U mean the whole of your salaries for a quarter would go for rent? Do you get free food? Does someone else pay your transport? Are you an only child? Are your both parents dead? Do you intend to be celibate and stay off relationships? Is it a government job where you hope to steal to make up for some deficit?

Above all, are you planning on totally ignoring savings and possibly investments?

Women could do that as they are largely configured for glitz and glam, but Ogbeni why ask this kain qweshion?

For this kain Buhari era when jobs dey loss pas the way positions dey open, what if Dem sack you? Wetin you gain?

Rent within 100k
250k is on the high side

Guys. This is literally my story.

I was on the mainland (Ijanikin, Close to Agbara and Badagry) and got a job on the island (Marina) that pays 85,000.

My transport every day was 1000 naira every day.

I would wake up 4:30am and by 5am I was at the bus stop. Anything more, and I would be late for work.

Every day I would spend about 5hours in traffic. Iyana Iba, Costain, Volks, Underbridge.

I literally was going through serious stress. Sometimes I would arrive at work looking and feeling exhausted.

Then I looked for an apartment closer to work.

I knew surulere would be my best best.

The minimum cost for anything decent is 300,000. The agents were not merciful, the Landlords too.

Then I got an apartment for 250,000 agent 60, agreement 60. Totalling 370,000.

Then my stress drastically reduced. Transport at the time reduced to about 500 back and forth.

I also cut down on all my other expenses.

Even tho it looked like I was working for three months to pay my rent. I was happy. I was more productive and I could do more with the extra hours I spent in the traffic.

There is no one size fits all advise in this case.

Lagos is a very crazy place and if you have been in the job market for a long time, you really do not have a lot of options when a job offer comes. You just have to start with the hopes for improvement.

Get your apartment, if it will cause you less stress.
But you must be very shrewd in your spending going forward.

Remember you will feed, pay utility bills, clothe and still send back home.

So.

I wish you well brother.

Ideally if you are single it is not advisable, but as a family man you may need space and privacy. It would be more ok if you have a second hustle or your wife too is contributing on her part domestically, Otherwise you are in for a tough time.
Mind you, Location also matters

Yeah

yes. come inside ilorin

Yea if you save 21k per month, but na hand to mouth be that imo