Can someone with a monthly salary of 200k keep a small family in this economy?

[rachael9385]

Let's be honest, a 200k monthly salary is not a small money, anyone earning such is even more than an average earner so I say it will be enough to handle family expenses for a month and still have savings. Once we have a family we carter for and a prominent source of income the first thing we should understand is knowing how to manage the home, involving how to spend money, it's necessary to stop every lavish lifestyle unlike not having a family yet.

I couldn't agree more with you on this, you've really made a very notable point on financial literacy and responsible spending when one has a family. Of a a true, 200k might appear to be a lot of money and it can really go a long way, but it's also very important to be mindful of how the money is being spent. In the hands of a reckless spender, 200k is nothing but just a change that wouldn't even last up to a day in their hands, they have the habit of spending more than they're supposed to, just to fund their luxurious lifestyle and before it's even half of the week, the money is all gone and they'll start borrowing and when the next salary comes, they use it to settle the loans they collected.

Presently, 200k fit reach person for this economy but e depend on how many una dey for house. E depend on the responsibility wey they person dey carry.
   Just imagine say you get 5 children and 3 of them dey university, 200k no go fit reach you well, even if say e dey settle some if your bills, you no go fit save money and you know say anything wey you dey do and no dey safe money e go affect you tomorrow (raining days).
   When you keep 100k for feeding and 50k for some kind of unnecessary expense them 50k for savings one day fit come when e go be say gbese fit boss and that small 50k when you dey safe you go use am.
   One things wey person dey pray for, for life nah to just dey upgrade every month or year, when you dey receive just 200k for long time you go tire for ram and you no go even dey see that 200k as money again. So I dey try let the OP know say when you get collect 200k as salary make you also put am for other business so that you go dey get double pays.

[Bournesparks]

Let's be honest, a 200k monthly salary is not a small money, anyone earning such is even more than an average earner so I say it will be enough to handle family expenses for a month and still have savings. Once we have a family we carter for and a prominent source of income the first thing we should understand is knowing how to manage the home, involving how to spend money, it's necessary to stop every lavish lifestyle unlike not having a family yet.

I couldn't agree more with you on this, you've really made a very notable point on financial literacy and responsible spending when one has a family. Of a a true, 200k might appear to be a lot of money and it can really go a long way, but it's also very important to be mindful of how the money is being spent. In the hands of a reckless spender, 200k is nothing but just a change that wouldn't even last up to a day in their hands, they have the habit of spending more than they're supposed to, just to fund their luxurious lifestyle and before it's even half of the week, the money is all gone and they'll start borrowing and when the next salary comes, they use it to settle the loans they collected.

Presently, 200k fit reach person for this economy but e depend on how many una dey for house. E depend on the responsibility wey they person dey carry.
   Just imagine say you get 5 children and 3 of them dey university, 200k no go fit reach you well, even if say e dey settle some if your bills, you no go fit save money and you know say anything wey you dey do and no dey safe money e go affect you tomorrow (raining days).
   When you keep 100k for feeding and 50k for some kind of unnecessary expense them 50k for savings one day fit come when e go be say gbese fit boss and that small 50k when you dey safe you go use am.
   One things wey person dey pray for, for life nah to just dey upgrade every month or year, when you dey receive just 200k for long time you go tire for ram and you no go even dey see that 200k as money again. So I dey try let the OP know say when you get collect 200k as salary make you also put am for other business so that you go dey get double pays.

This very valid. Diversification is key. Maybe BTC or eth or other top coins. But I get your point .thanks for your input brother..

[Obim34]

Let's be honest, a 200k monthly salary is not a small money, anyone earning such is even more than an average earner so I say it will be enough to handle family expenses for a month and still have savings. Once we have a family we carter for and a prominent source of income the first thing we should understand is knowing how to manage the home, involving how to spend money, it's necessary to stop every lavish lifestyle unlike not having a family yet.

I couldn't agree more with you on this, you've really made a very notable point on financial literacy and responsible spending when one has a family. Of a a true, 200k might appear to be a lot of money and it can really go a long way, but it's also very important to be mindful of how the money is being spent. In the hands of a reckless spender, 200k is nothing but just a change that wouldn't even last up to a day in their hands, they have the habit of spending more than they're supposed to, just to fund their luxurious lifestyle and before it's even half of the week, the money is all gone and they'll start borrowing and when the next salary comes, they use it to settle the loans they collected.

Presently, 200k fit reach person for this economy but e depend on how many una dey for house. E depend on the responsibility wey they person dey carry.
   Just imagine say you get 5 children and 3 of them dey university, 200k no go fit reach you well, even if say e dey settle some if your bills, you no go fit save money and you know say anything wey you dey do and no dey safe money e go affect you tomorrow (raining days).
   When you keep 100k for feeding and 50k for some kind of unnecessary expense them 50k for savings one day fit come when e go be say gbese fit boss and that small 50k when you dey safe you go use am.
   One things wey person dey pray for, for life nah to just dey upgrade every month or year, when you dey receive just 200k for long time you go tire for ram and you no go even dey see that 200k as money again. So I dey try let the OP know say when you get collect 200k as salary make you also put am for other business so that you go dey get double pays.

It may also depend on the size of the family, and how their needs could be met, on a normal ground $200k is more than enough to hold the family from their every needs. You talked about having 5 children and 3 are in the university, at first knowing fully well one's salary can not meet the needs why not send 2 and 1 drops to learn a skill that will also be of good support when he/she enters after one has concluded, everything requires good planning, it's better not to start yet than entering and later on drop out just because not being financially buoyant.

[Promocodeudo]

Though it is difficult keep a small family with such amount considering the current economic hardship but it is possible if you plan yourself, your expenses has to be regulated, you don't have to spend extravagantly, your expenses should be into something meaning or better still little  investment wouldn't be a bad plan, the inflation in Nigeria has made it impossible for nigerians to survive with then amount mentioned, if it were to be before, that amount is huge to cater for both extended family but the case is different in this era.

[Y3shot]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

200k is a salary that few people recieve in their place of work, in goverment job people who recieve such amount are senior works that already have family.  In life sometime it is not about the money you earn buy good planning. Their are people who work in a better place and receiving good pay but no good planning and they are unable to achieve goals because no good planning . With 200k , if you should plan well to manage money you can be able to manage your self.

[Churchillvv]

Are you seriously asking this question? Look there is someone out there with a salary of 20k holding a big family. Although they might not be feeding too fine but there is someone of such salary. Even people with 100k salary are holding big families, 200k is a good salary and it's even rare to see a job that can pay you such with your certificate.

Most of our lecturers are earning just 200k and there are doing well, so it's a person lifestyle, if you know how to manage your money, certainly you will able to hold a good number of family with your little salary but it will be nice to invest your money bitcoin or any thing can yield a good profit. Hence to manage your salary very well.

[Egii Nna]

You might survive with 200k as a salary every month, seeing as people who don’t even have that every month are surviving. Definitely, you also have a chance, but mind you, we are talking about family. Setting up a family is not a small deal, especially in a country like Nigeria, because the bride's family will like to knock you down with a high bill, and if care is not taken, you might get a loan before you can settle other things they will request before the marriage. After that, your next project is to start feeding, clothing, and providing shelter for your wife.
 
Bro I can lie that income of 200k will not be enough, but if the lady is also working, then you will have some reduction in expenses, But if she is not working, I pity your life because you will end up eating once or twice a day or just being involved in a high amount of depth, so when making a decision, you should always look at the positive and negative parts before drawing a conclusion. If not, SAPA is real!!!

[Agbamoni]

Why not! 200k is enough to plan a small marriage and paying the normal traditional stuffs for the bride. Although with time the persons can save then start a business that will help increase the monthly income from 200k to 400k or more. To me, i believe marriage starts from when you start planning with your spouse, because you don't just rush into it. If you know you and your fiancé wants to have a luxurious wedding and you can't afford it. You guys can focus on improving your life first like get a better job, a business or something that would give you both the money you needed for your dream wedding.

[Manlikefrank1]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

Keeping a small family with 200k will not be easy due to the inflation in the economy but if you have a good budgeting system you can try to overcome the inflation problem.

[Loveday422]

Op, yes is the answer to your question,with little explanation,you are being paid a salary of 200k monthly this is a huge amount I swear,many are not even paid 200k but they are doing perfectly well with their family,many arm 70k monthly or even lesser yet their family is still moving very well ,let me start what 200k can do for you to know it will go a long way,know about farm land, make sure you have a farm atlest 3farm while you are still doing that your 200k work ,clear the farm ,how to clear the farm if you don't have enough money to pay the person who will clear it , atlest you have friends,tell your friends to assist you to clear it ,in my place if you go farm for someone today the too will call you on their own farm , this is how will help our self's in the village,bring your mined to know that you are not longer a boy ,have the mined set of a responsible father and make sure you carry all your responsibilities because obi is not longer a boy change is constant,after you might finish clearing the land plant your crops ,the 3farms by the upper year you will do will with your family.
This is just how to start a family with 200k budget,and make sure your wife should be very industrious, because industrious woman keep a good family,so that you will do your part ,while she do her own part too,most times you can assist her to achieve a goal ,she too can assist you in another way round,that's how a good family can stand.
This post remind me of the story from my daddy how he started with my mom,the very interesting part of this story is my mom is an indousrious woman ,she help my daddy build his family till today ,that's why I said if getting married make sure you get married to an indousrious woman ,you can also teach her make her to be one ,let her know she is not longer a girl so that her mined will be at home
So my brother 200k is more than enough to keep a small family as you call it ,think about those that is not getting money every month but they still survive with their family,this little experience and elustration should let you know that 200k is  more than enough in this hard economy brother.

[Mate2237]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

All depends on the number of people in the family. Even there are some families that with 100k, they can still save 50k from it every month. And if the family is large with 20 and above habitat then the 200k is not enough so that your question can't be yes or no and as I said all depends on the family size. And Even if the family has a small size and the woman does not know how to manage the finance in the house then that amount is not enough but if the woman is good to manage funds then you can save 50%.

[Adams0001]

I believe you no that #200k monthly salary is a big money in this country and, it can reach you to feed your family well and still have some saving in your bank account to invest in BTC to also have something good to earn that will increase your money to enable you to have many sources of income in the country.

If you are living in the most expensive State in this country, I don't think that the money will reach you to keep your family well in this hardship because, the price of things in the country has double up which it will not allow you to sustain the family the way they want in this economy.

Exactly 200k monthly salary is not a small money and you can manage it and maintain and keep your family, even some people there salary didn't reach 200k and still have children and under family members that he take care of them is just that you will know how to manage it and get plan for it, anytime you recieved Money you will share it into two and used one for your family since you said 200k if you share it into two he will be 100k  am very sure even 100k it not a small money if you are recieved it every monthly. he will help you to be covered many things that know one will not understand how you are taking care of your self. The economy is hard now but still people are alive and getting what to eat every day. And anyone that is recieved 200k monthly i doesn't see anything he will not get even is foodstuffs i think even he use 100k he can buy foodstuffs that can reach him for a month expect he have any problems that he is facing that will course him to spend a lot.

[Asiska02]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

Yes it is very possible that one can live a small family while depending on monthly income of 200K only. I am of the believe that if you’re a good manager and don’t cross your limits based on what you’re offered or receiving, you won’t have a problem living a comfortable lifestyle with that money. If I know my salary scale of just 200K, I can plan my life and the number of family I want to have that can live comfortably with me with that amount, if it’s not possible, it’ll be better I don’t even try to increase my responsibilities and make the expenses more on me. Life is hard, so it should be treated with care.

Should this even be a discussion here? Don’t bring up topics that are not worthy of discussion just to increase your post count and activity, it is called spamming and it’s not allowed. 

This question he asked is okay and can also fit in the economy board of the local board if at all we have anyone. There’s nothing wrong with the topic and he’s seeking to here Nigerians opinions about the state of current economy hardship with a salary scale of such.

[AmaGold70]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

it is very much possible, 200k is a reasonable amount of money to keep and maintain a family whether big or small, we have people in this country that doesn't receive a monthly salary but yet they have managed to keep a family talk more of 200k salary earner. Some of our teachers receive less than the amount you mentioned. Our fathers the civil workers earn less than the amount but they still manage to train their children in school. It depends on our collective lifestyle tho because some of us youngsters can't survive with that amount even without a family.

[Stable090]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

With the way things dey expensive for this country, 200k no be really big money, but if you get better wife, and you no born plenty children, then you suppose they leave fine now, at least you no go dey beg before you go see food chop, but if you get wife wey no sabi manage, na that time you go see shege, na y if you wan marry, you suppose check your wife well first before you go marry.

Sorry I don't really get your point, I don't even have anything to say about this post because I don't know what you are trying to explain, though we know things is very hard in this country, At least try to be specific.

If you check the OP topic, then am sure you will understand what the OP is talking about, Op didn’t make explanation in the post, but the tittle of the post explains everything. Maybe the Op should learn that when you are creating thread, you should make sure everything is self explanatory.

[Sim_card]

The kind of house that you are living in, and where it is located matters a lot on this. Also how far is your house from your workplace, and how many are you in the family should also be considered. Your basic needs, and the kind of partner that you got married to will also be a factor that can make you calculate to see if 200k will be enough to take care of a small family monthly. If your partner is not economical and understanding, you are staying in a good location in the city, and your work is far from home, I don't think that 200k will be enough to run your family for 2 weeks. You are the best person to figure this out based on your owns case scenario.

[Ever-young]

This question has been bothering me for a while. Hence I brought it here. With the way things are right now in Nigeria. Is it possible??

Omo e go only dey possible if the person also get side work o, if not I no sure say e dey possible, because price of things dey increase everyday, na from the money, person go pay house rent, school fees, food stuffs etc and food dey consume money like say tomorrow no dey, especially if person come get plenty mouth to feed, dat one of make person dey frustrated no matter how person manage before the month go end, the money don finish and person go still dey owe debt, for the money to do na just to dey get side hustle or business wey dey generate money foe you too.