How I Manage Over ₦2 Million Monthly Income as a Freelancer: My Money Management Secrets
A Nigerian freelancer, known as Tadafe, has shared insights into how he manages his finances while earning over ₦2 million monthly as a freelance post-production video editor and brand designer. His journey from a 9-to-5 job to a thriving freelance career offers valuable lessons for others seeking financial stability in the gig economy.
💼 How I Earn My Money
I began my freelance journey in 2018, initially building my client base on Upwork. Over time, I transitioned my highest-paying clients to retainer deals, providing more freedom and financial consistency.
One of my clients is a Nigerian influencer based in Brazil, for whom I handle complete post-production: weekly long-form videos at ₦150,000 each, plus two short-form clips at ₦50,000 each. This totals around ₦400,000 weekly or ₦1.6 million monthly.
Another client is a US-based YouTuber. Our base contract is $400/month for weekly video post-production, but he regularly sends extra work that bumps it up to about $600/month.
Additionally, I ventured into the crypto space in December 2024, focusing on branding and graphic design for Web3 startups. Through paid collaborations and design bounties, I've earned about $7,000 in this niche.
Even though I've stopped using Upwork full-time, I still receive occasional gigs through the platform, bringing in about $300/month.
Combining my naira and dollar clients, crypto gigs, and occasional Upwork work, I make a little over ₦2 million monthly and am actively working on increasing that.
💰 How I Manage My Money
I only spend my naira income and try to live well within my means. On average, I spend about 72% of my monthly naira earnings, with the rest either saved or set aside in my naira account.
I prioritize my health and wellness the most. I pay ₦30,000 monthly for my gym membership. After every workout, I treat myself to a healthy breakfast, usually chicken salad, protein-heavy meals, and smoothies from a restaurant near the gym. This adds up to about ₦200,000 a month.
A typical workday starts at 5 a.m., and I ensure to allocate time for physical activity and self-care, which I believe are essential for maintaining productivity and well-being.
📈 Financial Goals
I'm saving aggressively for a master's degree abroad. To achieve this, I maintain a strict budget, focusing on essential expenses and setting aside funds for future educational pursuits.
For more detailed insights into Tadafe's financial management strategies and his journey as a freelancer, you can read the full article on Zikoko Money: (Zikoko!)
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