With This Amount As My Monthly Income, How Much Should I Put Into Savings? Please Advise

Hello WC, what to spend or save at the end of each month has always been a challenge for me since I started working. My income is #60, 000. After receiving this money, I know that 10% is for tithe and that's all. 

For every other thing, I just remove and spend without knowing how to apportion specific percentages to different expenditures like offering, feeding, entertainment, transportation to school,  etc., before the month ends, I have spent all without a dime left to put into savings. I still
believe God for a better job and bigger pay but for now that I manage with this teaching job in a private School, I need advice on how and how much to spend/put into savings every month. 

Please, I want to know how one can wisely spend her income.  I know I have seen a PowerPoint presentation on such but cannot remember the author. Can you post it for public opinion.
Please help.
Thank you.


  1. Mrs T13:46

    With the high cost of living in Nigeria nowadays, this amount is small o. You can start with saving 10, 000 naira every month while you manage 50, 000 naira on expenditure. If that affects you too much you reduce the savings amount by say 2 thousand. At the end of the year you should save up to or close to a hundred thousand naira. My 5 cents.

    1. Anonymous03:39

      I once earned dis amount and found it difficult 2 save until I joined office contribution. We all signed up 4 20k each and we made it, just july dis year our salaries was increased 2 84k and we now do 50k.....and we have been fyn with it.
      Just make up ur mind, u would be surprised.
      I tried opening a seperate acct wit no ATM but found out that I still withdrew d money by standing on long queue and begging 4 withdrawal slip..heheheh (Eco Bank)
      Just fond a group of trusted colleagues and save up monthly.
      That way u can collect ur money in bulk and use 4 sometin.


  2. Thers a type of acct gtb runs that u'll just be saving into, u can't withdraw until a specific period(u'll tell them how long u want to run it and how much u want to save each mth but u can save higher than the amt). U can start with 5k. That's what my friends and I did when we were in school. Then u should have a budget too

    1. Anonymous19:17

      Pls does d savings comes wit intrest???

    2. Anonymous05:56

      Pls lyk how much?

    3. That am not sure of. It depends on how much you have in your account but the most important thing is you have a savings!

  3. Anonymous13:52

    Please I need advise too. On a salary of a hundred thousand naira, how much is advisable to save. Pls I need help cos I have no dime as savings. Before the month ends, every single naira is spent even when I know am not extravagant. Help oooooo

    1. jaybaby22:42

      You can do the gtb savings Amaka talked about.. Its actually called MANSARD nw. Just go to any gtbank around you and ask of their mansard insurance officer...they will put you through.. Its a good way to save because you won't have access to the money for 2years..and your interests accumulates each time you make payments. So since u earn 100k,I advise u save 20k...then manage 80k for the month..N20,000x24month=N480,000+ interest. That's almost half a million. I think its worth the try.. I have been doing it for 5yrs now.. Its the best thing that has happened to my life.

    2. Anonymous07:57

      Dear poster, this MANSARD Jb mentioned above seems like a good or even the best idea so far. I'd give it a shot. I'm already thinking of all the advantages.However, in saving money u need to nuture great discipline, Something you remind yourself everyday, always ve a monthly budget written down that MUST BE followed, pay your tithe always (never accummulate it; u won't be able to pay it up), no ATM cards too. There are principles of financial breakthrough, listen/read it. I suggest this cos' you pay your tithe.

  4. Anonymous14:53

    For you to save, you need to put aside the amount you want to save before you start spending, that way you know there is a cap and you won't go over and you will only go back to the savings when the situation is dire, like you have absolutely no option. That's how I ve been able to build my savings. Good luck

  5. Anonymous15:29

    save 20,000 . Its gd to save incase of unforeseen occurance.

  6. I think the important thing is to know how to set-up a budget and stay with it. A budget will show you how much you take in every month (we already know you earn N60,000/month) and how much you spend and what you spend it on. You will be surprised to find out some of the frivolous things we spend our money on and how much you can save by cutting back or eliminating some of these things.

    I'm not sure how much knowledge of Microsoft Excel you have but there are many Excel templates out there on the internet you can download for free to help you organize yourself and set-up a budget. I am also assuming you have a computer. However, if you are not knowledgeable with Excel or do not own a computer, you can also do it manually with a pen and paper. Basically, you need to organize yourself and keep a tally of all your expenses on a daily, weekly and monthly basis. All daily expenses can be categorized and tallied up at the end of each week. Similarly, all weekly expenses can be rolled up into your monthly expense. So for instance, if you spent N5000 for each week in a month to buy food to cook, you would have spent N20,000 - N25,000 (depending on the number of weeks in that month) that can go in the grocery items list for the month. If you went to the movies, you can put the expense under the entertainment category and vice versa. The point I am trying to make is that you need to know where you are spending your money to know if there are items you can cut back on and save.

    I hope you find this helpful.

  7. Anonymous17:22

    Hello Aunty, I would be glad if you can make this a post for me please. I am currently not in Nigeria but coming to Nigeria for my Court wedding. I have not attended any before and i know absolutely nothing about it and likewise my beau too but we both know its gonna be 19th of December and we should be in the Country say 7th of December.
    Please Aunties and Mommies, how is it done, how much do they pay at the court, when is it too late to register, what are the requirements,how long does it take etc So many questions please people help me out.
    Your comments and advises sure mean alot to us.


    1. Anonymous22:43

      I think u have to give them notice like 3 months b4 time I'm not really sure. Dnt u hv family here that can help u enquire n make d neccessary arrangements?

    2. Anonymous09:18

      She wants to ask this family OR is it wrong? Some comments sef

  8. Anonymous20:11

    I remain an anonymous. I am still confused on how to start or make a new post. Please do I need to send it to you first? Other wise, how can I do that. Please, I want to know how one can wisely spend her income. Assume I earn some money, I pay a tho the of 10%, how much % should be my offering! charity! seed! savings! and expenditure? How best can one go about it with wisdom. I know I have seen a PowerPoint on such but cannot remember the author. Can you post it for public opinion. Thank you.

    1. Yes, send it to aunty ojay's email @ cuulme@gmail.com. Offering is between you and your God, charity should be at ur discretion too but not to ur detriment. Draw a budget, income one side, expenditure the other side. Write all what u spend on and differentiate between wants and needs. After setting aside money for needs you can leave 10k for miscellaneous.

      Peeps, visit my blog www.seyonhundeyin.blogspot.com bless!

  9. 10% to 5% should be on savings every month. What matters is that you're saving something.
    Jdy last posted...A Brief Guide to Life

  10. Anonymous19:33


  11. Anonymous13:25

    please I need your advice , am receiving 35,0000 monthly how much will I pay as my tithe .thanks


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