Dr. Harvey Olufunmilayo, popularly known as OurFavOnlineDoc, has revealed to Nigerian youths who take 3months salary to raise a yearly house rent that there are working for their landlord.
He urged young people to live in an economic apartment in other to reduce the expenses raised for house rent and also opined victims in such apartments to move out.
Posting on his Twitter page in the early hours of February 19, 2022, Dr. Harvey stressed that the goal is to be rich, even if you don’t look rich and not living in an expensive apartment looking rich but NOT RICH.
He said:
“As a rule, if your monthly rent is more than 3 months of your salary/income put together, you are working for your landlord. If it takes you more than 3months salary to pay one month’s rent, you need to move out.
You are not impressing anyone. You are making a fool of yourself. “If it takes you more than 3months salary to pay one year’s rent, you need to move out.” **** This is what I meant to say in the second paragraph.
See ehn 3months of your salary is 25% of your annual salary. That’s 1/4 of what you make/earn for the whole year.
If you give 1/4 (or more) of what you earn in a whole year to someone in the name of rent, then my brother you are working for your landlord. Stop fooling yourself.
Except, of course, such housing is giving you access to greater financial benefits or otherwise, then it makes a whole lot of sense. And that will mean technically, you are making more money than you are spending on the rent.
But if this does not apply to you, My guy, move out. And don’t get me wrong; I am NOT saying this will be easy. It’s a decision that may mean you (temporarily) give up a house you wish to live in. But that’s what being a man is all about. You must be able to give up temporary pleasures because you see the bigger picture.
And as a man/woman with a family and responsibilities, you must always think of ways to SAVE MORE money- not ways to SPEND MORE or LOSE MORE money to potentially avoidable things like expensive housing (especially if you have other options). It’s always better to think this way.
Of course eventually, as you move up in life/career, and you make far more money, you can easily then move into the house 🏡 of your dreams (whether rented, mortgaged, or fully paid for). So the point is:
As much as you have the option to; Pls never live beyond your means.
There will always be people who unfortunately may not have any option and sadly have to pay too much for where they stay. You have my sympathies.
But pls have a long term plan:
Don’t put too many years into a job that requires 3months salary to pay your annual rent.
And finally, MOST people have options. But the allure of the fine things of life and the unhealthy peer pressure of “I want to bamba” “I want to be seen as a big girl” “I’m also a big boy” has made many people take very stupid decisions. You know it. But we all lie to ourselves.
Anyway, I’ve explained what I personally think is really your best approach if you are just starting out in life (or already in the journey of life).
The choice is yours to make. But as long as I have options: I will not be using 1/4 of my annual salary to pay rent. Thank you.”
