10/08/2023
How would you budget a ₦100k monthly salary if you were living in Lagos?
Here’s a simple monthly budget breakdown I created for Lola:
• House Rent - 21k (monthly savings in a sinking fund)
• Feeding - 35k
• Transportation - 29k
• Bills/Utilities - 5k
• Emergency Fund - 5k (monthly contribution)
• Self-Care - 5k
It's tight, but Lola can make it happen! 矗
Here are some tips for her to improve her financial situation:
1. Negotiate Work Arrangement: Talk to her boss about a hybrid work option to save on transportation.
2. Increase Income: Seek a raise, upskill, or find a side hustle for extra earnings.
Check out the full video on my YouTube channel to learn more:
https://youtu.be/L6FZT60eD-w
Remember, no matter how much you earn, save something each month. Even ₦2k adds up!