It’s very hard to budget or live within your means in this country because of the high cost of living and the rise in dollar rates. Living in Nigeria can be exciting financially, but it can also be a bit challenging. To properly manage your finances in Nigeria, you’ll need some good budgeting hacks.
Below are some budgeting hacks for everyday life in Nigeria:
Track your spending
This is the number one hack and a way to make sure you know how much you’re spending daily. If you don’t track your expenses, there’ll be no way you’ll be able to know what you spent money on. You can either use a budgeting app, notebook or even spreadsheet to monitor your income and expenses.
Save! Save!! Save!!!
Saving cannot be overemphasised, whether you’re a man or woman (add link) living in Nigeria, you’ll need to learn how to save as much as you possibly can. You can either using saving apps like Piggyvest, or invest in an ‘Asusu’ a local saving box.
Haggle like your life depends on it, because it probably do
Make sure you don’t stick to once price that’s said to you at the market or anywhere you are. Haggle like your life depends on it so you’ll be able to save as much cost as possible.
Spend wisely
You can save a lot of money by opting to buy foodstuffs and cooking at home instead of eating out. Eating out can be quite pricey, so prepare your own meal instead. You can also spend wisely and save money on ride hailing apps by using public transports
By using these budgeting hacks, you can have a balance between financial responsibility and enjoying all the country has to offer residents.
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