Not knowing what started it but there was a debate yesterday online as we watched a lot if people tweet their views on if getting married and sustaining a family on a 200,000 naira monthly salary was possible in this economy. Throwing in various views into the social pot, it was obvious that the amount mentioned wasn’t enough to most to start a family, which brings us to today’s post. In this economy, how much is enough salary should you earn monthly to start and sustain a family comfortably? The 200,000 Naira that isn’t enough to some is more than enough or just perfect to others depending on various factors.
Knowing the kind of lifestyle you live, your goals, aspirations and expectations, your environment, job role, your background, investments, savings, economic factors amongst a lot of things, determines your view on the power of 200,000 Naira in starting and sustaining a family in this day and age. What can 200,000 get you after the wedding? What are the things you’ll have to cut back on till things get better? Do you plan on having any kids immediately? Are you getting a raise or promotion soon at work? Or even a new job? Do you spend a lot or are you frugal? Are both spouses working or one spouse is the breadwinner? What state do you live in and how has the economy been treating you? How much have you saved or invested wisely over the years?
You only can determine how your finances work for you and how far it’ll play in your life. Before things get better, things might not be so good but it doesn’t stop you from getting married or aiming for the finer things in life. You may need to practice the marshmallow test for a couple of months or years but at the end of the day, you tell your finances what works for you. So, how much is enough?
Have a lovely weekend ahead.