Naira Life Vol 104

Good morning ☀️

Have you ever heard of a realtor not sold on real estate investments? I’ll bet there are several of them, and we got one for this week’s Naira Life. She’s a 32-year-old and is about saving. But you see property investments? She won’t touch them with a ten-foot pole if she doesn't have to. She’s got her reasons, and they might change how you see real estate, too, especially in Nigeria.

But that’s not the only story in this week’s dispatch. So, let’s dive in.

In this letter:

• #NairaLife: The Realtor Who Has No Interest in Investing in Real Estate
• Love Currency: The Customer Service Rep Navigating an Uncertain Long-Distance Relationship on ₦290k/Month
• I Regret Telling My Friends How Much I Earn
• Ask Aunty M: I earn ₦250k a month, and I Struggle to Save
• QUIZ: Are You a Spender or a Saver?
• Where The Money At?!

Saving comes naturally to the 32-year-old realtor in this #NairaLife, and while she was okay with that for years, she now wants to focus on investments.

Just don’t suggest real estate investments to her.

Jollof+ is a cutting-edge savings app providing up to 21% net interest rate with no hidden charges. Designed to help combat inflation, Jollof+ offers personalized saving features, ensuring steady financial growth for users.

Nina* (25) has been with Roy* (31) for 6 years. In that time, they’ve gone from a long-distance relationship to cohabiting and then back to long-distance after Roy relocated.

Nina talks about her disinterest in his finances and how japa affects their relationship. Read the full story here

Zikoko is launching a Pop newsletter, and we’re calling it The Feed.

As Nigerian culture has gone global and become ubiquitous, there’s a lot to get up to speed with. The Feed by Zikoko will help the world navigate its obsession with Nigerian culture amidst all the excess.

Money is sometimes a sensitive topic in relationships.

Hannah* understands that now. Being the “rich friend” has affected her long-term friendship group and she wishes she had kept her salary a secret. Read the full story here

I'm having issues saving. I earn ₦250k a month, but as the first child, I always have responsibilities waiting for me as I receive my salary. So, I don't have enough to take care of myself. This means I touch the savings I keep aside and use the money for my upkeep in the remaining part of the month. I'm single, so I don't even have a boyfriend who can occasionally support me sometimes. What should I do? - Cindy, 29

Hi Cindy. I'm sorry to hear about this. If we break this down into simple maths: salary minus savings minus expenses = spending money for upkeep. If you are constantly taking money out for upkeep, there are a few possible reasons why.

First, your salary may not be high enough to support your desired lifestyle. To solve this, you'd have to work on increasing your base salary from work or getting another source of income.

The second possible reason is that your savings number is too high relative to your earnings and expenses. Here is what I mean: let's say you want to save ₦100k per month because you want to have ₦1.2m in savings by year-end. This sounds like an amazing plan, but this represents 40% of your salary, leaving you with 60% to spend on your monthly bills, upkeep, and any responsibilities. Your bills and responsibilities are higher than 60%, so you constantly have to pull from savings to sort them out. The solution is to set a realistic savings goal based on your current income and expenses.

If you balance increasing your income, decreasing your expenses, and choosing a realistic savings rate, you'll have money to do what you want.

I I hope this helps!

Xoxo, Reni

• If you're here, you probably have a money or work dilemma. Ask your question and we'll figure out an actionable solution for you.

We only want to know one thing: are you pretty good with money?

We can't say we're about the money and not actually help you find the money.

So we've compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• Senior Product Manager - Reliance Health
• Data Scientist - Helium Health
• Account Manager - Lendsqr
• Account Officer - Dangote
• Manager, Regional Technical Operations - IHS Towers
• Talent & Culture Officer - Accor

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All good things must come to an end. But not this good thing. We’ll be back next week.

In the meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week...

Yours cashly,

Toheeb,

Zikoko's 'OG' Mr. money

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