LIFESTYLE

5 Smart Ways To Save Money When You Have Dependants

Published

2 years ago

August 11, 2022

FAB.NG

Nigeria has gradually become the country with the highest poverty rate in the world. What does this high poverty rate translate to? you may ask, it means high dependency rates too.

This means that everyone who earns money has to support several other relatives from that salary. It’s called the ‘black tax’ because with our love for family, it is culturally practiced among black people.

How then does one save with the black tax hovering over our heads? It might be difficult, but not to worry, here’s how you can save when you have dependants:

Image result for nigerians saving money

Envelope method
The envelope method does help you save and keep to your budget, and it still works in this case. Use the envelope method for your recurring expenses like transportation and food. Ensure your main savings and the rest of your money are not immediately accessible. The only accessible funds should be what you’ve budgeted as black tax.

Budget!

Yes, prepare a budget, and make room for what you can afford to give if you get the black tax call that month. Budgeting means that you will not give above your means or give to others at the expense of yourself and needs.

Prioritize needs!

Yes, your needs should come first. You can learn to prioritize the needs of your dependants. Place the more urgent over the more frivolous, and give what you have budgeted.

Say NO sometimes

It won’t kill you. Say no when you can’t afford it. Say no when the requests are frivolous. Make them understand that you don’t have. Of course, explain nicely!

Teach how to make their own money

For younger dependants. You can reduce the black tax by having them do stuff for you that you would normally pay for. If you pay someone to do your laundry and chores, have them do it and pay them. This teaches them the value of good old fashioned hard work. Also, help them find jobs, internships, trainings, etc that will help them earn their own money.

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FASHION

Lagos Fashion Week 2024 To Begin October 23

Published

17 hours ago

October 4, 2024

Reporter

Lagos Fashion Week 2024 To Begin October 23 | fab.ng

Lagos Fashion Week 2024 (14th Fashion Week) is coming this October. Specifically, the event will run from October 23 to 27, 2024.

Each year, this prestigious event attracts Africa’s top fashion talents. Creative designers showcase their latest collections. Additionally, innovative stylists present groundbreaking concepts.

The organizers focus on celebrating African fashion excellence. As a result, they bring together diverse creative minds. Subsequently, these collaborations shape the future of the continent’s fashion industry.

For this year’s edition, organizers emphasize the fashion value chain. Particularly, they highlight how each step contributes to the industry’s growth. Furthermore, they showcase innovations in sustainable fashion practices.

During the five-day event, attendees will explore various aspects of fashion. For instance, they’ll witness runway shows featuring cutting-edge designs. Moreover, they’ll participate in discussions about industry advancements.

The event serves multiple purposes in the fashion ecosystem. Primarily, it connects talented designers with industry professionals. Additionally, it provides a platform for emerging African fashion brands.

Throughout Lagos Fashion Week, sustainability takes centre stage. Consequently, designers present eco-friendly collections. Meanwhile, industry experts share insights on sustainable practices.

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A post shared by Lagos Fashion Week (@lagosfashionweekofficial)

“The event will showcase a shared vision for the future of African fashion, highlighting the entire fashion value chain’s role in driving innovation and sustainability across the continent,” a statement from the organizers reads in part.

This year’s Lagos Fashion Week will centre around the theme “Commune.” The five-day event promises an exciting lineup, including runway shows, networking sessions, talent discovery opportunities, the Visual Makers’ Fellowship, a fashion business series, exhibitions, and after-parties.

The runway will spotlight design collections from Green Access finalists—designers who have completed mentorships focused on sustainable fashion practices. These collections will highlight the growing emphasis on eco-conscious fashion in Africa’s future.

This year’s debut collections will be presented by notable designers such as Dimeji Ilori, Garbe, Malité, Oya Abeó, and Revival, all set to showcase fresh perspectives in African fashion.

Sponsors like Heineken, Bioderma, Lush, TOMS, Prosper Africa, and Afrexim back up Lagos Fashion Week 2024. Launched by Omoyemi Akerele in 2011, this annual event has grown to become one of Africa’s largest and most influential fashion showcases.

Check out more news updates here.

ENTERTAINMENT

Watch The Season Finale Of The “Shopaholic” Series As KIEKIE Recaps Her Favorite Stores

Published

19 hours ago

October 4, 2024

Reporter

Shopaholic: Watch The Season Finale | fab.ng

KieKie takes viewers through the season finale of “Shopaholic”, Lagos edition. In this episode, she looks back at Season 1’s Lagos Edition highlights. Specifically, she explores her top shopping destinations across the city.

Throughout the episode, KieKie shares her exciting discoveries, highlighting her best purchases. Moreover, she shows standout fashion moments from the season.

The show takes viewers to various shopping spots. Initially, KieKie visits luxury boutiques. Then, she reveals hidden shopping gems in Lagos. As a result, viewers get expert shopping advice.

Earlier in the season, KieKie led viewers through Lagos’s vibrant shopping scene. She explored numerous stores during her adventures. Subsequently, she uncovered unique local treasures.

On her shopping sprees, KieKie discovered various items. For instance, she found fashionable clothing. Additionally, she explored interesting gadgets. Meanwhile, she provided detailed insights about each location.

Throughout the series, KieKie acted as a knowledgeable guide. She helped viewers understand Lagos’s shopping culture. Finally, she offered valuable tips for finding the best deals.

KieKie’s charismatic personality enhanced the show. She made shopping adventures exciting for viewers. Ultimately, she created an engaging insider’s guide to Lagos shopping.

“Shopaholic” shows KieKie’s honest reactions to the city’s different shopping places and the costs of living a city life. She takes viewers with her on a shopping trip in each episode and shows them what she bought.

Season 1 was about shopping in Lagos. Expect season 2 to be about shopping in Abuja. Then, season 3 will be about shopping in your country, city, or town. Tell KieKie about the best places to shop in your area. Watch new episodes every Friday on Lady Laide Media’s YouTube channel.

Subscribe to the series and turn on notifications so you won’t miss an episode! Get ready to go shopping with us and discover the best places to shop in Nigeria. New episodes are available every week, and you can also watch them in French.

Get more entertainment updates here.

ENTERTAINMENT

They Say “E Go Better”, It’s Getting Worse – Basketmouth On Nigeria’s Economy

Published

2 days ago

October 3, 2024

Reporter

Basketmouth On Nigeria's Economy | fab.ng

Nigerian comedian Basketmouth has openly expressed his frustrations with the state of Nigeria’s economy and its leadership.

During his appearance at the African Muzik Magazine Awards (AFRIMMA), Basketmouth addressed two major concerns in his interview. First, he emphasized the continuous rise in inflation. Then, he highlighted the rapid devaluation of the naira. He went on to explain how both issues are severely affecting the lives of everyday Nigerians.

He said,

“There’s nothing that can happen, quote me anywhere. Think about it, in 1970, the year I was born, it was one naira to a dollar and this year it’s one dollar to 1600 naira. There was never a time from that time to date that the dollar crashed and went back to what it was and stayed there. It has never happened; think about it.”

Basketmouth criticized Nigerians who say ‘E go better.’

“Every time it changes, all the conversations you’d be hearing is ‘E go better, E go better.’ it’s getting worse, bro. What are the policies? And what have they done? Now 100 pages for a passport is 100,000 naira; they just increased it,” he explained.

” ‘E go better. E go better’… It’s getting worse bro”

– BasketMouth pic.twitter.com/jkpRH5157o

— @𝗼𝗻𝗲𝗷𝗼𝗯𝗹𝗲𝘀𝘀𝗯𝗼𝘆 (@OneJoblessBoy) October 2, 2024

First, Basketmouth thinks the government deliberately created economic problems. As a result, he believes government leaders want citizens to leave Nigeria. Additionally, he pointed out that Nigerians use the term ‘japa’ for this situation. Specifically, ‘japa’ refers to when people leave the country to find better opportunities elsewhere.

“I suspect that our government planned this thing to make the Nigerian population suffer. So that when they suffer they can now want to japa, then they will increase the price of the passport and they’d make money,” said the actor.

Sarcastically, he added, “It’s not like I’ve given up hope; I’m hopeful. Maybe one day, the country will be better. Let’s all believe in that pipe dream. It’s done, it’s over.”

Watch the full interview below.