How To Teach Your Children To Deal With Sex, Drugs And Potential Abusers



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    (Is there definite amount one should save?)

    Having gone through the habit of saving in my previous article, what should come to mind next is how much should one save?
    And this question could not be answered in few words because; there are many conditions that determine this, some within our control and some which may not be.

    But let us look at a man who works for a salary and how much he should apportion his income about as follows:-------

    Savings account……….20%
    Living---clothes, food and shelter……….50%
    Life Insurance………10% Total = 100%

    However, look at the average man and his approximate distribution and what he actually makes of his income:
    Living---clothes, food and shelter……….60%
    Life Insurance……….5% Total=100%

    Examining the line for recreation at the average man and his approximation, we should come to understand that, under this are much expenditure that do not really recreate, such as money spent for alcoholic drinks, dinner parties and other similar things which may serve to undermine health and destroy character.

    Looking at the life of a relation of mine who was a banker but, loved spending more than he is paid,
    This young man earns N25, 000.00 per a month from a micro-finance bank and spends more than N50, 000.00 monthly by attending to many shopping malls with his wife who also was engulfed with this habit of expenditure.

    It happened that he made away with 5million naira belonging to the bank in order to meet up with his spending habit and unfortunately was caught from the act and sentenced to prison.

    Fortunately for him, his relations came to his rescue and it was demanded he should pay back the money which warrants selling-off a piece of land at the price of N8m in order to bail him out.

    You see! From his outrageous habit he has wasted not less than 13m naira in a bid to satisfy what he called entertainment or recreation expenditure.


    A family of two persons, with income of N100.00 monthly should budget thus;
    Saving = N10.00 or N12.00
    Cost of shelter or rent = N25.00 or N30.00
    Clothing = N15.00 to N20.00
    Recreation = N8. 00 to N10.00

    A family with income of N100.00 monthly should that income be increased to N125.00 should save N20.00 of the amount.

    A family of two persons, with income of N300.00 monthly should budget thus;
    Saving = N55.00 or N65.00
    Cost of shelter or rent = N45.00 or N60.00
    Clothing = N35.00 to N45.00
    Recreation and Education= N50. 00 to N75.00

    Just as the salary increases, your saving budget should increase in proportion.
    But instead of practicing this habit of saving, many young men have gone to the extent of purchasing cars before they pay for it.

    Which have kept them at the slave trade master of debt, difficult for you to break out from because, hence you have formed the habit of buying to be deducted from your salary, it seems sweet and easy but, it leaves no one with habit of saving at last.


    A few years ago a young man who worked for a printing press experiences this kind of opportunity. One of his fellow workmen who formed the habit of saving N500.00 a week advised and influenced him to form same habit too.

    Three years later, he was able to save a whole lot of money and the printing company he worked for got into financial difficulty and was about to fail.

    He came to the rescue with his savings and in return was given a half interest in the business.

    Today he is drawing out of it, as his half of the profits, a little better than N250, 000.00 per year.

    Had he not form the habit of saving, this opportunity would have eluded him.

    As we all know, the greatest thing in life is FREEDOM!
    And there is no real freedom without a reasonable degree of financial independence.

    The only escape from this lack of habit of saving which curtails freedom is to form the habit of saving money, definitely live up to it in life no matter the level of sacrifice it may require.

    Millions of people go through this menace of lack of saving money including me the writer of this article, and unless you are one of the rare exceptions who listen and seek for knowledge this lesson and all that is contained here are meant for you, and you have to apply it for it to apply to you.

    So, if you like what I do and want to be the first to receive similar article whenever I write one, kindly follow this link: to receive my newsletter because, I write two articles every week for the next future.

    Thank you and remain blessed!

    Kingsley Anyi

    Date_Posted:---2017-12-08 09:53:25


Date_Posted:---2018-03-10 07:55:14