Published via Ecency

Good day everyone, welcome to my blog.

Income management is one of the basic skills of life that no institute teach, income management have been in existence since the existence of man. Remember during the journey of Moses and the Israelites in the bible, when God provided them with manna while they journey back to the promised land. They had to take manna that would sustain them for two days a day before the Sabbath day. Whatever they might take a day before the Sabbath day is expected to be managed in such a way that would not sustain them for two days.

In our world today, we not only earn what will not sustain us, we also have to save from that little we earn because this saving will be what will help us on rainy days. Naturally , an average Nigerian is expected to have at least two if not multiple sources of income because the standard of living is high and the economy is not favourable to anyone.

Below is a rough work of how I manage my income. Fifteen percent of my total income goes into savings like health insurance savings, co-operative savings and normal rotating savings contribution which we call esusu in my local dialect, five percent is my normal not touch limit. I keep this five percent to fall back on Incase of any emmagency.

Thirty percent of my total take home goes into stocking the house with groceries and other home essentials, five percent goes into my personal needs and this includes my soap, cream, sanitary pad and others. I keep eight percent for five weeks transportation fees and three percent for lunch. This kind of lunch is a once in a while thing, not regular.

Three percent goes into data and airtime which I have to manage for a month while ten. Ten percent goes into a separate pause as my personal contribution for our children's extra tutorial payment, miscellaneous expenses and home maintenance, at the end of the year. The remaining ten percent is what I share and give to my aged mother and younger brother each month.

Five percent is what I save towards wardrobe change and purchase of festive clothes and shoes and the remaining six percent is what I save for our family yearly outing, birthday cakes and anniversary gifts for my spouse. Some percent may seem too large, those are my contributions to my family and some may seem small, that is what I can save conveniently without depriving myself and my family.

This is my entry for the #indiaunited contest for this week. We will be