For our second episode of 9-5 Math, we spoke to Festus*, a 26-year old Nigerian who has late mornings because he is most productive at night doing work he is proud of, as a Product Designer. He works out of his mini flat in Lagos, juggles two jobs, and spends a chunk of his income on his siblings abroad and in Nigeria. He has secured a place at a prestigious school abroad, but will his responsibilities and earnings allow him gather substantial savings before resumption next year?
Read Festus’ story and find out how he is managing it.
Tell me about your job
I have one full time job and a contract job that renews every few months, both as a Product designer. I have been in this career for about four years. I love product design because it offers me the level of creative freedom that I enjoy, both to share ideas directly with my CEO and bring the ideas to life. The only aspects I don’t like are when I have to fight Developers to implement my designs properly or when the PMs (Product Managers) don’t agree with the direction I take. It is more work finding common ground with all the teams involved but because I love design, it is a necessary challenge.
Sounds like you really like your job. What inspires you?
Oh, I love it. I can’t imagine doing anything else. I draw inspiration from other products I interact with and like, the games I play – I love FIFA but I have been playing Fortnite non-stop these days, and cartoons. I enjoy adult cartoons and I always stumble on motivation for something I am designing. At the moment, my favourite is F is for Family.
Nice. Have you ever been worried that you might lose your job?
I can’t think of a specific instance but working in startups always comes with some anxiety that the company will fail. Our processes are constantly changing, but I am learning not to overthink it. I will be fine.
Cool. Let’s talk about your income streams
I earn N750,000 ($472) as base salary from my jobs, and that is my steady monthly income. Sometimes, I get occasional gigs and put the money in my savings and a few miscellaneous expenses. However, I recently got into real estate investing with a friend. We leased an apartment for a few years in January 2023, and have a joint account where we pool income from monthly rent. I haven’t touched that money yet as it is a long-term investment, but these are my income streams for now.
I see. So how long does your salary last in a month?
Typically, I make it last till my next payday but this month, I only made it till yesterday.
LOL. Why?
Where do I start? My rent is due next month so I have been saving for it. I usually save for two months to make up rent. School is also resuming next month so I had to send money to my siblings. Then I bought new clothes and shoes. The only recurring expense here is the money I send to my siblings, which is a little higher this month because of school resumption. Essentially, August is not a typical month but it has really drained me.
Sorry. Tell me about your nuclear family. What is the story there?
It is just my mum and four children including myself. I am the oldest with three siblings: immediate sister (24) just finished medical school and brother (23) is studying Engineering, both abroad, then my youngest brother (17) just started university in Nigeria. My mum is my G, we pool most of the resources to keep our family our float, and everyone else contributes. I am not obliged to send money to my siblings but it helps and I have been doing it for such a long time, it is the most natural thing. My Mum also helps me save because I have never been good with money. I am a proud mummy’s boy. I save everything with her.
Wow. You are not worried that she will pull an African-parent stunt on you and spend your money?
At my big age? Nah. Also, she knows that she is holding a huge part of my life so she won’t ever harm it. I trust her with anything. We are working on my travel plans for next year too.
That is so amazing. Tell me about it.
I got an admission into my dream European school this year, but I had to defer until next year because I don’t have enough funds for upkeep when I get there – just in case I can’t find a job quickly. My Mum and I contributed towards my school fees so that is out of the way, but I still need to raise a lot of money because having a safety net is important. Between my savings and investment though, I am making some progress. I wish I could get a better-paying job but the offer I got wants me in the office twice a week and the hours are 8 am to 5 pm.
What is wrong with that?
I don’t like commuting especially because I am most productive at night. The only thing that takes me out of the house right now is my full time job, and that is just once a week with flexible hours. Most times, I don’t even need to show up. I just have to get the job done.
Sweet. Let’s take a look at your expenses in a typical month.
Savings – N200,000
Siblings – N300,000
Food: N150,000
Electricity: N40,000 (Band A)
Data: N30,000
Subscriptions – N20,000
Transportation – N10,000
What is your greatest money hack?
I don’t have a hack because I don’t think I am as good with money as I should be, but it helps that my Mum saves for me. I owe it to her to send at least 200k every month and it keeps me accountable. Also, I rarely leave my house. Let’s just say that being a home buddy has saved me a ton of money.
Fair. If you could have any job with any salary, which would you pick?
Is there a job where I don’t have to work? LOL. Frankly, I have never thought about it. I don’t have a figure in mind but I will always be interested in a better-paying design role.
