Saving Money is it possible for someone that is earning as low as #17,000 per month to save?

funmi

Verified member
Savings to me means keeping money for future use. In Nigeria, some people earn less than #18,000 per month, how can such people really survive with such amount of money for a whole month?
To me, I think that income is not enough to even feed on for a month, how will such a person now save from such amount of money? Now adays, the economy of Nigeria is fluctuating. Price of commodities in the market is going up everyday, there is no good jobs even in our urban areas.
I probably don't know if there is a way or method of doing this, but I personally don't think there is a way of saving for someone who is earning about #17,000 per month.
But if any one has any idea of surving and still be saving from such an income,then I will like to know and learn about it.
 

sincerem

VIP Contributor
Are you the one earning such amount of money in a month?? Hmm, i can't say much about surviving with that amount, but I'll say its possible to have savings with the low amount of money. If you're living with your parents, or a guardian, where he or she provides you with clothing, shelter and food etc. It means, the primary needs have been taking care of. And as such the one earning N17,000 should be left with a good chance to save more.
 
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btaliat

VIP Contributor
The only philosophy my daddy taught me and I still find relevant up till now is that whatever I cannot do when I don't have much, I cannot do it when I have much. If you are not saving when you don't have much, you may still not be saving when you have much. Saving is a habit and not and not a function of a situation.
 
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Alexandoy

VIP Contributor
I have no idea how much that amount in your currency that you have mentioned. But when it comes to savings no matter how little you learn but if you have the willpower to save then you can save every day even if it is only loose coins from your pocket. What's important is not the amount but the volition to save.
 
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Sammyesx

Verified member
It will be very difficult to save with such an amount especially if the person is an adult that has responsibilities or lives on its own, also if lives in an expensive city like Lagos, then it will be practically impossible to save, because the cost of transportation alone would take large portion of the money.
 
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