It’s no surprise how difficult the Nigerian economy is and how the cost of items skyrockets daily. So, instead of spending the same way you did a year ago when things were cheaper, it’s best to approach this strategically. This blog post will reveal four money-saving hacks to survive the Nigerian economy.
Buy in Bulk
Gone are the days of buying items anytime you needed them or buying foodstuff for every meal you wanted to cook. With the daily price increment in the country, it’s smarter to save a bit of money, go into the market, and buy items in bulk. This way, you’ll be saving money when there’s a price increment next, and you’ll have enough items to last you for quite a while.
Opt for Second Hand Products
This goes for clothing, appliances, jewellery, and everything else. Buying new products in this economy costs an arm and a leg, so it’ll be much better to go for second-hand items that are being sold at a much cheaper price. Doing this’ll save a considerable amount of money in the long run.
Have a Fixed Budget
Spending above your budget is a no-no right now, and the only way to survive is to have a fixed budget and stick to it.
Join Community Savings/Foodstuff Allocation
There are so many saving communities where you pay a certain amount daily and collect the combined amount at the end of a certain period. This is a great way to save if you find it hard to save alone.
There are also communities where you give a specific amount of money every day to collect food items worth the combined amount at the end of a specific time.
In a nutshell,
Using any of the above hacks would help you save properly in the long run. The economy is very difficult; the best way to handle this is to be a step ahead.
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