Choosing to Live in Iyana Ipaja or Maryland

So you are a single guy, working on the Island, earning at least 100k monthly and you are contemplating whether to live in Iyana Ipaja or Maryland, Egbeda or Yaba, Abule-Egba or Surulere, Okokomaiko or Ikeja? Let me help you break it down.

A lot of factors need to be considered before making this decision. Most young people I see consider the huge rent they must pay to landlords in the “mainland highbrow”. This is where they get it wrong! You don’t consider that first, you need to sit down and do the calculations. Have you considered the transport fare you will pay daily to and fro work? How about the Danfo and Conductor Wahala? Did you consider the number of hours you will spend (waste) on the road to and fro work? Proximity to everywhere? How about the health implications?

It is usually not advisable to spend more than 30% of your salary as rent. So, you have 30k from your 100k monthly salary which is 360k to pay for your rent. I am sure you can get a decent self-contain apartment in the “mainland highbrow” for this budget. You can plan the rest of your budget on the remaining 70% and still live a comfortable life here in Lagos. Please try not to spend more than this except you are willing to make further sacrifices from other areas.

You deserve to be comfortable and you need some time to yourself to think. You need to have time to engage in other of life’s activities and not wasting 5 hours in traffic everyday wishing life was fairer even when you could make it fair for you.

I will leave you with this conversation between a guy and his girlfriend.

Girlfriend: Do you drink beer?

Guy: yes, I do

Girlfriend: how many bottles per day?

Guy: 3 bottles

Girlfriend: How much is a bottle?

Guy: 300 Naira

Girlfriend: That’s 900 Naira every day, 6k every week and 25k every month?

Guy: Yes, that’s correct

Girlfriend: How long have you been drinking

Guy: 20 years thereabouts

Girlfriend: That would have been 302k annually amounting to N6m and with interest in a savings account would have been about N10m to buy a brand new car!

Guy: Do you drink beer?

Girlfriend: No

Guy: Where is your brand new car?!

Girlfriend: ???

Understanding Finance in Relationships

Finance has been identified as a major factor in any relationship and more so in a marriage relationship. If not properly checked money issue can trigger arguments, fights and ultimately separation/divorce. It is important to discuss this issue as soon as you are getting attached to that special somebody to avoid unnecessary toxic air.

From my little experience and observation in life, I have identified three (3) different ways I have seen families manage their finances.  I will only highlight the three ways while you determine which you prefer and what will work for you. Since you are in a relationship, I have assumed that you love (you noticed I did not use trust) each other.

First of all, we have the relationship where the man is the all-in-all. This category is where the man’s money is our money and the woman’s money is her money. A lot of women prefer this as it gives them undue advantage even when they earn as much as their man (if not more). To this categories of women, #wehdonema. That said, this actually works well for many “already made” men and men that have full time house wives.

The joint account relationship. The individuals in this relationship practically open an account they call, “John and Jane” account, where they contribute a portion of their monthly earnings into. No one is bothered by the balance in the other person’s account (?).This works well for couples that do not want their spouse to know what they earn or just want their personal space.

The last but not the least is the relationship that manages their monies together. They both know what the other person earns and plan their spending around the “our money”. Here, there is no hanky panky, no suspicion, no “my money”, it is everybody’s money and everybody know the plan and the limits. This works only when there is TRUST (you noticed I did not say love?) in the relationship.

There you have it. It is good you understand your relationship and what will work for you. You actually need to have some conversation around this and decide on the best option. There is always room to adjust and readjust until you get the perfect option.

Bless you.

Finding The Balance - Work And Life (Part 2)

see part 1


In this part, I will be highlighting some of the activities you can engage in outside work. If I may add,t you can also choose to close early from work and do some of these activities.

Travelling/Vacation: Someone once said, traveling is a form of learning and I totally agree. However, that motivation is good for those who don’t like travelling for the fun of it. Just before you mention the financial constraints, note that you don’t need to travel far away. You can travel to the next street, just leave home and be away!

Do Sleepovers: Do you really need a breakdown of this? Okay, this means sleep anywhere other than your house. You could go visit a friend, family or hotel. This breaks the routine, helps you to interact with others outside your regular cycle.

Eat out – I know you do this sometimes at work. However, do this more regularly even when you are outside work. At least ones in a quarter, have dinner/lunch with that special somebody at a five star hotel (anyone you can afford), you won’t die! What are you earning the pay for?

See a movie – I know you can watch it online for free. I know you also have the latest home theatre in your house, but please, go to the cinema! The cinema is meant for people like you. Don’t forget to buy popcorn and a drink. It’s more fun to go with that special somebody but if there’s no “that special somebody”, select from any of your random acquaintances or even a colleague, you will be surprised at the outcome.

Learn a new skill – you can enroll in a vocational school. Learn cooking (I know you can cook, but can you cook all the foods in the world yet?), try a new recipe. Learn a (another) musical instrument, etc. You can also learn to do for yourself some of those services you pay for. If for nothing, just do it for the fun, life is short!

Others include; going to the spa, gym, beach, events (parties, karaoke, hangouts with friends, window shopping, sporting activities etc.). You will be shocked at the beneficial relationships you can build from such activities.

With these few points of mine, I believe I’ve been able to convince you and not confuse you that a life without balance is not worth living…J

Shalom!

How to Make Money Quickly!

I have seen many people; old and young make the same mistake every now and then in the quest to be make money quickly. I will attempt to show you how.
 

 

 

Firstly, let’s deal with your GREED! There is an element of greed in everyone, no matter how small. However, you must try to tame your greed level by first thinking with your BRAIN before anything else. Otherwise, you will end up frustrated or swindled.  Think about this, someone else already has the money you are aiming at. Guess what? That person is not satisfied! Ask the richest persons in the world if they are satisfied. So, even if you are Bill Gate you will still want more. Capisce?

Why do you need the money? This is probably a silly question. Is it? My grandma will always say, when motive is not defined, idea is distorted. Define your motive truthfully and justify why you think you really deserve to go on with the decision. Don’t try to deceive yourself. This self-examination will gives a clear mind to strategies on the best decisions to make.

The truth is, there is no quick way to make money. You need a REAL plan that needs to be nurtured gradually daily, monthly and yearly until you achieve your plan. Don’t be deceived by any quick way, I call them the "buy-one-get-one-free" schemes. True wealth is built overtime, it takes time. Save yourself the headaches, sleepless nights, high blood pressure, anxiety, fear and even untimely death.

Thank me later.

Finding The Balance - Work And Life (Part 1)

Is it absolutely possible to have this in real life? Why is this important? How can one achieve this? I will try to answer these questions the best way I can in this piece.

 

Is it absolutely possible to have this in real life?

The obvious answer is yes. The work system naturally makes allowance for work life balance by providing what they tagged, "Annual Leave". The annual leave period rages from10 to 40 days depending on organization and rank of the individual. This tag is not for decoration, it is for real! You are not expected to work throughout the year, you need to take a break that is the design. Whether you take your annual leave or not is a different ball game. The choice is actually yours to make.

Why is this important?

Taking your leave is your responsibility if you are serious about finding balance. You need to deliberately and consciously make that decision for a number of reasons. First off, your health! Your body is not a machine, even machines need breaks. You will run down without breaks and that is not what you want. You probably will end up broken and out of the office compulsorily when this happens and the deadline you are trying to meet will still be met, without you! Guess what? Nobody will die if you are not in the office. Deadlines may be missed but that is nothing compared to your health. It is unhealthy to run through the year without taking a break. Nuff said!

Secondly, you need the break to rejuvenate. To rejuvenate is to look or feel better, younger, or more vital. The break make you fresh, think clearly and outside the box, gives you a new perspective to the challenges of your job and ultimately makes you better at your job and life in general. Not taking a break makes you fuzzy (vague if you like), you make silly mistakes, and eventually makes you even doubt your competencies. Spot the difference.

Last but not least, taking a break from work gives you time to focus on other important aspect of your life. Your family and loved ones need you, they are the most important part of your life not your job or colleagues. Guess who will be there for you when you are being admitted to the hospital? Your boss? Your CEO? Think again.

 

How can one achieve this?

I believe I have already answered this question. You are working to live and not the other way round. Also, remember that life is to be enjoyed, not all work work work!!! You are special, treat yourself that way. Take a break, travel outside your immediate environment if you cannot afford outside your state or country. You have earned it, you deserve it.

SHALOM!