Guys I need advice on what to do at this point in my life.

Got a job, in my state, place of work not far from parent's house (rented flat).

I've managed to save up to 400k so far, I've always longed to move away from my parent's house and get my own place, but they'd always kick against it, citing that there's no need for that since work is close to home. Left for them, they'd like me to stay till I plan for marriage whenever that will be; Lol, parents sha.

I'm already 28 years old, so I think it's time.

My colleagues already yab me anytime they get the opportunity, they love reminding me that I still dey chop mama thank you.

Problem is, the job security at my place of work is not that encouraging. I have older colleagues who have been in the company for 8 to 15 years, I've also, within my short period (less than a year now) seen about 5 workers sacked, it's a place where any thing can happen at any time.

So, should I invest this 400k in renting and furnishing an apartment with the constant uncertainty hovering over the job,and no side income yet, or should I continue staying with my parents while I invest the money in a side business which I don't know how it'll fare...

Now, frankly speaking, I'm not cut out for business, it's not my forte at all, so starting any at all comes with great risk but I still feel the need for another source of income.

On the flip side, Staying with my parents is not even as economical as most would think. Ever since I got the job, parents no dey gree say them get money again. All the bills are on me.

I'm just confused.

Salary fluctuates between 60 to 80k

How much is the house rent for the apartment yearly?

some people will storm this thread now. inviting you to do business. don't mind them. don't do any business with anybody here. they are all scammers. I don't know why people are inhumane. somebody comes here with his predicament. your own is how to scam him. don't call anybody.

My bro people would always talk ooo. If you move out tomorrow and you ask dem to borrow you money, na dem go still yab you. My guy you don’t just move out like that ooo, you should move out with the hope of never returning. So I’d advice you stay in ur peeps house, atleast them no they chase you. So long you are not depending on them and you also contribute to the upkeep of the house. Baba dey where you dey. Its not even fat from ur work place. But always keep in mind that you would move out soon. Just keep saving bro

Jayslicky:
How much is the house rent for the apartment yearly?

I'm targeting a self-con of 100 to 120 per year... Not more than that.

Location: Anambra state.

ashewoboy:
some people will storm this thread now. inviting you to do business. don't mind them. don't do any business with anybody here. they are all scammers. I don't know why people are inhumane. somebody comes here with his predicament. your own is how to scam him. don't call anybody.

Lol, trust me, I'm not gonna listen to any business proposition from anyone here.

shege45:
My bro people would always talk ooo. If you move out tomorrow and you ask dem to borrow you money, na dem go still yab you. My guy you don’t just move out like that ooo, you should move out with the hope of never returning. So I’d advice you stay in ur peeps house, atleast them no they chase you. So long you are not depending on them and you also contribute to the upkeep of the house. Baba dey where you dey. Its not even fat from ur work place. But always keep in mind that you would move out soon. Just keep saving bro

That's my major fear. Moving is permanent and would consume great resources....

It's an investment of its own. A necessary evil

If you think you've enough to get a place and sustain yourself and your other needs/expenses, move out. If not, stay where you are and save a bit more before you move out. Do start a side hustle or business to generate more income.

Hullabaloon:
I'm targeting a self con of 100 to 120 per year... Not more than that

Ok that's good, at least you earn over 700k in a year, the normal rule is that your rent should not be more than one-fourth of your salary in a year, it depends on how you spend money on things, it is better than if you calculate your expenses monthly, you calculate how much you spend on food stuff, calculate what you spend on clothes, calculate how much you give out to people sometimes, calculate the cost of maintaining the apartment you plan on getting(nepa bills, security bills etc) subtract it from your salary, if the remaining money is not up to 5k monthly, then don't even think of trying to move out of your parents house because that is not progress but waste of time. I suggest you still stay in your parents house till at least a year more, you just started working and you need to be balanced before getting your own apartment, I know you want your space as a man but just have patience.

Move when u are ready to settle down and dont allow one hungry girl talk u into moving out..keep the money and tolerate ur parent...atimes dem dey make person dey pasmaga.

donbachi:
Move when u are ready to settle down and dont allow one hungry girl talk u into moving out..keep the money and tolerate ur parent...atimes dem dey make person dey pasmaga.

i swear

Jayslicky:
Ok that good, at least you earn over 700k in a year, the normal rule is that your rent should not be more than one-fourth of your salary in a year, it depends on how you spend money on things, it is better than if you cancalculate what expenses monthly, you calculate how much you spend on food stuff, calculate what you spend on clothes, calculate how much you give out to people sometimes, calculate the cost of maintaining the apartment you plan on getting(nepa bills, security bills etc) subtract it from your salary, if the remaining money is not up to 5k monthly, then don't even think of trying to move out of your parents house because that is not progress but waste of time.

I suggest you still stay in your parents house till at least a year more, you just started working and you need to be balanced before getting your own apartment, I know you want your space as a man but just have a little patience the right time would soon come.

As for expenses, I'm frugal with expenses. I don't drink, don't smoke, ain't a womanizer.

Thanks for your input.

When did paying house rent and furnishing an apartment an investment?
They say You are eating Mama Thank You ,is that bothering your mama,no.
The truth:
your friends are jealous.They want Where they will have unrestricted access to enjoyment from you and the squatters gang.
that 400k that looks too big to Youwill dissappear in 1 week with All the job Insecurity.Ask Ecobank ex workers.

Remain Where You are ,save up the more and invest properly.Dont leave Unless you You are abt to get married Or have a substantial investment.If they Talk ,ignore them.

You are only able to save 400k because you live with your parents
Do not move out till you have saved 1Millionaire that is kept aside for investment purposes such as buying a land, buying a car/bus/keke for side biz

Moving from a rent free place to your own self rented place is NOT an investment - dont allow anyone decieve you..... Like you have stated, your job is not secured, if you move out now and loose your job months down with nothing to rely on, you will use those same hands and pack your load back to your parent's

You dont have to be biz inclined to have side hustles - those are hustles not meant to be your main income, but profitable enough to cover bills like monthly mobile/data top ups, electricity bills, tp to work, dstv etc cos those bills add up

Another advantage of staying with your parents which you may perhaps agree with (i am sure this helped towards your savings as well) is that you are restricted on your "tgif" behaviour, splurging on drinks et al, mama put etc and all that would be a weekly occurence once you start living independently.

You earn 60k to 80k and you were able to save 400k in less than a year. What's the secret bro? Don't leave your parents house just yet. Save up to 1m and buy a low cost land since you are not good in doing business. When it appreciates a little, sell and buy two more .Stay there sef till you wan marry. Be focus, you are not far from being successful

Well said

Katier00:
You earn 60k to 80k and you were able to save 400k in less than a year. What's the secret bro? Don't leave your parents house just yet. Save up to 1m and buy a low cost land since you are not good in doing business. When it appreciates a little, sell and buy two more .Stay there sef till you wan marry. Be focus, you are not far from being successful

keepingmum:
You are only able to save 400k because you live with your parents
Do not move out till you have saved 1Millionaire that is kept aside for investment purposes such as buying a land, buying a car/bus/keke for side biz

Moving from a rent free place to your own self rented place is NOT an investment - dont allow anyone decieve you..... Like you have stated, your job is not secured, if you move out now and loose your job months down with nothing to rely on, you will use those same hands and pack your load back to your parent's

You dont have to be biz inclined to have side hustles - those are hustles not meant to be your main income, but profitable enough to cover bills like monthly mobile/data top ups, electricity bills, tp to work, dstv etc cos those bills add up

Another advantage of staying with your parents which you may perhaps agree with (i am sure this helped towards your savings as well) is that you are restricted on your "tgif" behaviour, splurging on drinks et al, mama put etc and all that would be a weekly occurence once you start living independently.

Thanks for your input. I'll put this into my thoughts

Gloriagee:
Well said

.

The secret is quite simple: I don't drink, I don't smoke, ain't got no girlfriend. Don't need one now.

So, the only expenses I make are feeding, T fare, and helping parents with cash when food stuff and other utilities run low at home.

I would have even saved more if not that I provided half of the rent where we currently stay, bought a new laptop and a new phone when I lost the previous one I had, and of course, upgraded my wardrobe

Katier00:
You earn 60k to 80k and you were able to save 400k in less than a year. What's the secret bro? Don't leave your parents house just yet. Save up to 1m and buy a low cost land since you are not good in doing business. When it appreciates a little, sell and buy two more .Stay there sef till you wan marry. Be focus, you are not far from being successful

lol i even think this thing ooo

Renting an apartment is not investment.
Your parents are renting and you also want to rent. That means your family will be paying rent for 2 places in the same city.
Since you and your folks get along fine, keep living there. Moving out does not make financial sense.

Hullabaloon, I am in my mid thirties, and I have had a fair share of experience when it comes to working for salary. Please, let those who are teasing you continue to do so, you don't owe anyone any explanation. You said u have worked for about a year and have saved up to 400k, based on what you earn, I can say you are good at saving. Please, stay in your parents place till you want to settle down. Forget what colleagues and neighbors are saying. If you can save up to a million naira, you can invest in govt treasury bills.
Please stop referring to moving into a place of ur own an investment, coz it won't yield any returns. It's an expenditure not investment.
If you move out of ur parent's place and loose your job such that you can't renew your rent, believe me no colleague or friend will house you, it's still your parent you will run back to.

Good guy..keep helping your parents n saving.

Hullabaloon:
.

The secret is quite simple: I don't drink, I don't smoke, ain't got no girlfriend. Don't need one now.

So, the only expenses I make are feeding, T fare, and helping parents with cash when food stuff and other utilities run low at home.

I would have even saved more if not that I provided half of the rent where we currently stay, bought a new laptop and a new phone when I lost the previous one I had, and of course, upgraded my wardrobe

You're lucky to have them (parent),save for two more years and invest big,in fact buy lunch box,and carry better mumsy delicacy to work, dem go talk,dem go taya

@ Hollaballoon

Stay with them and save at least 2 million before moving out. This will protect you against any uncertainty in life n ensure u DNT return to stay with them ever again

@ Hullabaloon

Stay with them and save at least 2 million before moving out. This will protect you against any uncertainty in life n ensure u DNT return to stay with them ever again. U need to have two sources of income before you leave

Honestly the only time u must leave ur parents house is when u want to marry? For me u should stay till then

Hullabaloon:
Guys I need advice on what to do at this point in my life.

Got a job, in my state, place of work not far from parent's house (rented flat).

I've managed to save up to 400k so far, I've always longed to move away from my parent's house and get my own place, but they'd always kick against it, citing that there's no need for that since work is close to home. Left for them, they'd like me to stay till I plan for marriage whenever that will be; Lol, parents sha.

I'm already 28 years old, so I think it's time.

My colleagues already yab me anytime they get the opportunity, they love reminding me that I still dey chop mama thank you.

Problem is, the job security at my place of work is not that encouraging. I have older colleagues who have been in the company for 8 to 15 years, I've also, within my short period (less than a year now) seen about 5 workers sacked, it's a place where any thing can happen at any time.

So, should I invest this 400k in renting and furnishing an apartment with the constant uncertainty hovering over the job,and no side income yet, or should I continue staying with my parents while I invest the money in a side business which I don't know how it'll fare...

Now, frankly speaking, I'm not cut out for business, it's not my forte at all, so starting any at all comes with great risk but I still feel the need for another source of income.

On the flip side, Staying with my parents is not even as economical as most would think. Ever since I got the job, parents no dey gree say them get money again. All the bills are on me.

I'm just confused.

Salary fluctuates between 60 to 80k

Op, to put things in proper perspective for you, I was in my parents house when I got my first land.

So do not move an inch from that house. "For now anyways". Continue helping them out and saving.
Find something to invest the savings in.

And Ignore the ridicules! Your life is different from that of friends/colleagues. So also the decisions you make.

Thanks guys for the advice so far..

The one who takes into consideration the negatives of what others think or says is the slave of the last person they spoke with.

Enjoy the company of your family members, save enough and take life one step at a time.

Where is lalasticlala

nuelyoyo:
Hullabaloon, I am in my mid thirties, and I have had a fair share of experience when it comes to working for salary. Please, let those who are teasing you continue to do so, you don't owe anyone any explanation. You said u have worked for about a year and have saved up to 400k, based on what you earn, I can say you are good at saving. Please, stay in your parents place till you want to settle down. Forget what colleagues and neighbors are saying. If you can save up to a million naira, you can invest in govt treasury bills.
Please stop referring to moving into a place of ur own an investment, coz it won't yield any returns. It's an expenditure not investment.
If you move out of ur parent's place and loose your job such that you can't renew your rent, believe me no colleague or friend will house you, it's still your parent you will run back to.

Are u still living with yuouyr parents?

AwkaetitiBabe:
Are u still living with yuouyr parents?

Nope, and that's because work took out of the state my parents are. To be honest, if I find myself working in the same state where my parents house is, and thier place is close to work, and my pay is just 80k, I wouldn't rush to move out. Op just started working about one year now. He needs to make his savings big enough.

AwkaetitiBabe:
Are u still living with yuouyr parents?

Why asking...