It’s the beginning of the month, and as expected, your account is bubbling because you’ve barely touched your salary from last month.
But there’s something more bothering you – you know it won’t take too long before the salary finishes, and you go back to the endless cycle of going to work hungry.
Well, it’s not your fault – we live in a country where expenses rise faster than income and temptation lurks in every suya spot.
These can make it an incredibly difficult task to keep your salary from disappearing before the second week of the month. But don’t worry, I’ve got you covered.
Here’s an article that highlights how you can make your small salary work for you and stay with you (at least until the next alert lands). Let’s go!
1. Know your real monthly expenses – Not your vibes
The first step is to be brutally honest with yourself. Create a list of everything you spend on monthly: rent, food, transport, data, electricity, and contributions. Also, don’t leave out that shawarma you “accidentally” buy every Friday. You’ll be surprised by what percentage of your budget that takes.
Once you have a full picture, you’ll see where your money is leaking. Knowledge is power – and in this case, the power to avoid financial ruin by the 14th.
2. Budget like your life depends on it
Now that you know where your money goes, assign every naira a job. Create a monthly budget that prioritises needs over wants. Your salary is not for balling – at least not yet. Split it into percentages if it helps. Usually, financial experts recommend the following percentages:
- 50% for essentials (food, transport, bills)
- 30% for savings or emergencies
- 20% for wants (Netflix, soft drinks, random treats)
Pro tip: Withdraw cash for daily expenses. It’s harder to overspend when you’re physically watching your wallet shrink.
3. Meal prep over impulse eats
Eating out is expensive. Try cooking in bulk on weekends: stew, beans, soup – whatever works for you. Portion it and store it in the freezer.
It’ll save you money and time, and you’ll thank yourself every time you’re too tired to cook but too broke to order anything.
4. Say no – Even to yourself
This is the part no one likes to hear. But sometimes, the only reason you’re broke is because you can’t say “no.” No to that random group hangout if you can’t afford it. Don’t buy a new wig or sneaker when the old one is still serving.
Being financially disciplined doesn’t mean you’re stingy. Instead, it means you have a strategy that you’ve decided to stick to.
Most people save what’s left after spending. Smart people spend what’s left after saving. The difference? One is always broke; the other always has backup.
Automate your savings if you can. Move it to a separate account the moment your salary drops. These days, there are even fintech apps designed for this purpose. Download reliable ones and learn to make use of them.
Stretching a small salary isn’t always fun, but it is possible. With the right habits, you can go from broke and frustrated to balanced and financially confident, it even on a modest income. Always remember that it’s not about what you earn, but how well you can manage it.
