To be honest, money is meant to be spent, but wisely and while you can give account of the money you invested in a new business, or for medical checkup or even to buy a few things for yourself for the month, you can’t give account for the one you didn’t put in your monthly budget.

So here are a few things that take your extra cash away.


Some of us don’t take alcohol but can drink at least 5 bottles of soda in a week. N500 multiplied by 4 weeks is N2,000 and multiplying 2,000 by 12 months is 24,000.  Now I don’t even want to talk about how much someone who takes two bottles of beer will be spending in a year. So when you calculate your total earnings for a year and you have to take a whopping 24,000 from let’s assume a yearly earning of 1.2m (assuming you earn 100k monthly from both your Npower stipends to other side jobs/side business) you have about 1,176,000 left. I honestly hope this article doesn’t make someone cry.


That Unplanned Item Of Clothing You Online

This is the most annoying aspect of this article because it can’t be helped. Life is created in such a way that you can’t be in total control of things, even though you plan your finances to the tiniest detail. So let’s assume you saw a shoe you’ve been dying to buy on sales, wedding expenses, or any other unplanned bills you will have to bring out some funds from your account you didn’t budget for.

Let’s say the highest you can afford to let go of is 20,000.


If this is subtracted from the person who already has 1,176,000 left, she/he is left with N936,000.


Things You Buy In Traffic (Lagos people we hail thee)

Although I haven’t been to every state in Nigeria, according to reports nowhere can be compared to Lagos when it comes to traffic. In traffic, lots of items are sold from sausage rolls to chargers, power banks, drinks, water, slippers, wristwatches, picture frames, card and board games and so much more. If you don’t live in Lagos then think of how much you spend at the car park when you’re travelling, buying chips, books, power banks, underwear and even sponge trying to prepare for your destination.

Let us assume that you spend N300 daily, to and fro work on these things (in Lagos some spend more) 300*5 working days= 1,500*4=6000 in a month. Now 6000*12 months in a year=72,000. N936,000 -72,000=864,000.



Everyone is guilty of this aspect. From the roasted corn to the small chops, biscuits, ice cream and so on that we can’t take our eyes away from when we step out of the office at lunch, or at the junction of your house.

Let’s estimate 200 for each day giving us 1000 a week, 4,000 monthly and 48,000 yearly. 864,000 -48,000=816,000

Lol did it ever occur to you that corn you buy every day could take 48,000 from you yearly? Shocking right?


Data Subscriptions

Humm this one is just a necessary evil. You have to connect to the world 24/7 if you intend to get opportunities and get informed about happenings in your environment. While some apps drink your data bundles like Instagram and Youtube, others just gently sip from your bundles.

In Nigeria now, it will be difficult for you not to run out of data, and some of us end up subscribing 3 times monthly, especially those who have side hustles.

So let’s assume you spend 3000 on data monthly on an average, giving you 36,000 yearly. 816,000 -36,000= 780,000



So looking at this account, you’ve succeeded in spending an average of 420,000 yearly on things you can’t even account for. This 420 does not include church/mosque donations, tithes, money for monthly toiletries, money to support your family and so much more.

While some do not spend as much as I’ve estimated, some spend even more.

In our next article, we will be discussing how to cut down your expenses and live on a budget.