How much can you achieve on a 200k/mo salary in Nigeria? ($550)
If your salary is 200k/mo and you saved 100k every month, it will take you about 8 years to be able to save 10 million naira and be able to build a decent flat in the village.
If your salary is 200k/mo and you spend 10k on a hangout. It means you spent your full 1-day income. That is, you woke up, went to work and worked all day just to earn it and blow it on a hangout.
If your salary is 200k and you have a family you spent approximately 100k every month, you cannot achieve anything else. Transport and feeding for you will eat up the remaining 100k.
If your salary is 200k and you save exactly 100k per month, it will take you approximately 2 years to buy a car of 2 million naira.
If your salary is 200k/mo you will have to save 100k per month for about 4 months before you can buy a decent MacBook.
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If your salary is 200k/mo and you save 100k every month, it will take you 2 years to be able to save for a traditional and wedding of 2 million. This excludes the cost of rent for the house where you and the new spouse will live in.
If your salary is 200k/mo, and you save 100k/mo, you’ll have to save for 6 months to be able to afford a decent self-contained house rent on the island. That’s half of your yearly earning going on the house alone. When you factor in other expenses like transport, feeding, clothing, and furniture you will see that you will be in debt before the year runs out.
At 200k/mo salary, if you send 100k to your lover to buy that new phone you have blown 50% of your salary for that month. That is the money you earned for 2 whole weeks.
If your salary is 200k/mo and your company has 5 such staff, it means your boss is under pressure every month to produce 1 million/mo for salaries alone. This excludes the cost of rent and office furniture and equipment.
If a person earning 200k/mo goes on an abroad vacation trip, that money came from somewhere else.
Let’s lower the bar a little, picture a widow with 5 children, all of them jobless and above 20. She earns 200k/mo and uses it to feed the whole family. The first child is married off to someone else, has a child and still jobless.
Imagine the level of poverty they will all be in.
