Money! What can we learn from our sisters in Nigeria?

Money! What can we learn from our sisters in Nigeria?

I was searching the web for different budgetting tools as I like to plan and prepare for the future of my family like all good wives and mothers. I found it quite interesting to see one posted by LagosMums.com.

This is the first of a series of threads where we are going to run through some of the common sources of income and expenses in Nigeria and see what we can learn from them. Your opinions are much appreciated.

The budget spreadsheet produced by LagosMums.com can be downloaded here: click here

UPCOMING TOPICS

SOURCES OF INCOME

1. INCOME WHILST YOU WORK:

Salary

Self-Employment

Bonuses / Commissions

2. INCOME WHEN YOU DON’T WORK:

Pensions and Annuities

Investment Income

- Interest received

- Dividends

- Rents

- Sale of Securities

EXPENSES

3. BILLS

Satellite/Cable TV

Internet

Electricity

Gas

Telephone/mobile bills

Water

4. CONSUMER EXPENSES

Appliance purchases

Appliance repairs/insurance

Travel/Car Loan Payments and insurance

Car Maintenance

Petrol

Tyres

Clothing accessories

Clothing

Dry cleaning

Jewellery

Furniture & Other items

5. CHARITY

Charity donations/Tithes Gift Aid

Charity fundraising

6. CHILDREN

Childcare

School Fees

Private Tuition

7. HOUSE

Laundry

Groceries

Home Insurance

Home Improvement

Home Maintenance

Mortgage payments

Rent

8. DEBTS

Debts: Credit cards and loans

10. ENTERTAINMENT

Cinema

Concerts / Shows

Dining Out

Home entertaining

Hobbies / pastimes

Club Membership

Vacations           

11. CELEBRATIONS

Birthdays

Christmas

Weddings

12. MEDICAL

Health Insurance

Life Insurance

Dentist

Optician

13. BEAUTY

Barber Shop

Beauty Treatments

Cosmetics

Haircare