If there’s one thing Nigeria will teach you quickly, it’s how to stretch money until payday (and sometimes even past it). Between fluctuating prices, fuel scarcity, and those “urgent” expenses that come out of nowhere, I realized that without a proper monthly budget, my finances were in a constant state of wahala.
Fiscal responsibility is a skill I’ve been working to develop since before coming to Nigeria. What changed everything for me was when I stopped seeing budgeting as just a financial tool and started seeing it as an act of stewardship. God has entrusted me with resources and my job is to manage them wisely.
Creating a monthly budget in Nigeria isn’t just about writing numbers on paper, it’s about building a realistic spending plan that reflects the unpredictability of the economy, aligns with God’s principles, and still helps you reach your financial goals. Here’s how I do it, step-by-step.
1. Pray First, Then Plan
Before I even write down numbers, I pray. I ask God for wisdom, discipline, and clarity. Proverbs 3:5-6 reminds me to “acknowledge Him in all my ways” so He can direct my paths—even in my finances.
2. Track My Real Income
I work with what God has already provided—whether it’s salary, side hustle money, or freelance gigs. I don’t budget based on “expected” blessings. This keeps me rooted in gratitude for what I already have, not anxious about what’s coming.
3. Give First
The very first line on my budget is tithes and offerings. Malachi 3:10 says when we bring the whole tithe, God opens the windows of heaven. For me, giving isn’t an afterthought; it’s my act of worship and trust that God will supply all my needs.
4. List All My Expenses
I separate essentials (rent, food, transportation, electricity, data) from non-essentials (eating out, clothes, entertainment). This helps me live within my means and avoid the trap of unnecessary debt.
5. Using the 50-30-20 Rule
The usual budgeting advice is 50% needs, 30% wants, and 20% savings. But in Nigeria’s economy, I tweak it:
- 60% on essentials
- 25% on wants (so I can enjoy life without guilt)
- 15% on savings and investments
And through it all, I remind myself of Philippians 4:11—learning to be content in every situation.
6. Factor in “Emergency Money”
Life in Nigeria can be unpredictable. I set aside a little “emergency fund” so I’m not thrown into panic when surprises come. But my faith tells me that even in emergencies, God is my ultimate provider.
7. Review and Adjust Monthly
Each month, I review my budget and adjust for the next. Some months require cutting back on wants; other months I can save more. Either way, I thank God for His provision, whether my cup is full or still being filled.
Final Thought
Budgeting in Nigeria may feel like an extreme sport, but when you put God first, it becomes an act of worship and faith. By praying before planning, giving before spending, and trusting God’s provision, you’ll find peace in your finances—even when the economy shakes. If you want to go beyond the norm with your finances then check out my abundance mindset post.
Do you work with a monthly budget? Talk to me in the comments about your budgeting woes and budgeting wins.
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