₦airaland Forum

Monthly or yearly?

In Nigeria,it takes two income family to be able to live well. This is because nothing is certain in Nigeria now and that certainty is the core area of worry to everyone/family.

However,u may need to have a passive income for sustenance such that if u are a salary earner, it will make up for any change in the price of good services especially when ur wife does not support u.

For me,I will say apart from school fees and cost of maintaining children...put down 40k to 60k a month.

80k monthly is manageable

Food portion must be well reduced

BigBashiru:
Monthly or yearly?

It depends largely on your lifestyle and standard of living.

If your standard of living is high, then on an annual basis, you'll be running on close to a 1.5million but if its an average standard, it will be like 750k annually. housing inclusive. But definitely not on the island. Somewhere around mainland you can still get this standard for that amount.

ibechris:
In Nigeria,it takes two income family to be able to live well. This is because nothing is certain in Nigeria now and that certainty is the core area of worry to everyone/family.

However,u may need to have a passive income for sustenance such that if u are a salary earner, it will make up for any change in the price of good services especially when ur wife does not support u.

For me,I will say apart from school fees and cost of maintaining children...put down 40k to 60k a month.

Im looking for the cost of feeding for husband, wife and a child who is 4years old....

CalliDora1:
It depends largely on your lifestyle and standard of living.

If your standard of living is high, then on an annual basis, you'll be running on close to a 1.5million but if its an average standard, it will be like 750k annually. housing inclusive. But definitely not on the island. Somewhere around mainland you can still get this standard for that amount.

rent in lagos alone is 750k oh for bq or self contained. 1.5 million is rent alone for a 2 or 3 bedroom flat...

In Lagos, school fees exclusive, budget a minimum of N100k-N150k monthly. And you'll still have to manage some things. Anything less than that and you're either cutting meals, living on top of each other in a smaller house than you really need, or delaying car repairs a month or two when you have breakdowns.

BigBashiru:
rent in lagos alone is 750k oh for bq or self contained. 1.5 million is rent alone for a 2 or 3 bedroom flat...

Yeah 750k is for 1bedroom flat per annum. But 1.5 for 2 bedroom flat per annum.
So just add other costs like feeding, utility bills and clothing which should be around 500k per annum. You'll be running on close to 2m.

BigBashiru:
Im looking for the cost of feeding for husband, wife and a child who is 4years old....

Put down in writing everything u guys eat in a month including yourself and estimate it in money terms and get the final cost. Then map out ur budget with it for the month.

That is how I have been doing mine just to enable me to save some cash.

If you're a serious man 18 thousand naira is enough ,


Jussss cut what you can carry