How to Live Comfortably on a Low Income Salary

How to Live Comfortably on a Low Income Salary
Written by Oluseyi Adefowora

Tips to follow when you are on a low income salary scale

1. Set your priorities right

It is very important that your scale of preference or what you actually need most is placed first. Make a budget for your family, and stick to it.

Look for  where exactly you can reduce or cut your expenses and what needs to stay in your budget.

2. Try to live below your means

If you always live like you’re broke, you’ll have money left over in the end. Even if you CAN afford to go out to a nice dinner tonight, save that money for when you really need it. Even if you CAN get a new, expensive car, opt for the used car that gets you more bang for your buck. Always spend as if you were making much less than your actual income.


3. Buy goods or items that have discounts attached to them

I learned very quickly that I can get much more for N2000 at Shoprite than I can get at a department store. If I only have N2000 to spend on clothes for 3 people, I have to make every kobo count. I love my second-hand stores.

Second-hand stores and thrift stores aren’t just for clothes, either. There are even scratch and dent stores for appliances that give you a deep discount just for a scratch that you can’t even see!

4. Hand-me-downs will be your way to upgrade.

Is your brother getting rid of his TV and upgrading just because he wants the newest model? Offer him some money for the perfectly good last year’s model. You’ll be saving a lot of money getting “new” things this way.

So much of our furniture and electronics are hand-me-downs that we’d never have gotten if we had to pay for them ourselves. I’m not ashamed to say that. Each time someone has offered us an “old” phone or TV, I have no shame in accepting it and offering some money in return.

5. Save exceedingly well

Automatically have 10percent of your paycheck put into a savings account. That way, the money is saved, but you don’t see it in your account so you’re not missing it. This trick works for most people, including couples who are still striving.

6. Stop or reduce your outing

If you start treating getting lunch out like a luxury, not only will it save you money, but it also makes you appreciate it that much more.

You can still have at home, date nights when you are on a budget! Plus there are plenty of fun (not serious) questions you can ask each other to really “date” each other again without ever needing to pay for entertainment.

7. Accept that this is where you are

This is the biggest factor for us. We had to stop trying to live above our means and just accept that we didn’t have the money to spend like other people did. By accepting this, we were finally able to stop working against ourselves and reach our goal.

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About the author

Oluseyi Adefowora

I love people of substance and value as my close associate

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