Nigerians are going through some measure of economic crunch. It is an era of streamlining and for many, surviving on a shoestring budget. Here are some easy tips to help you spend less and still be comfortable.
Make a budget and stick to it
Start by making a statement of your monthly income and then track how much you spend on paying bills, rent, buying foodstuff, toiletries, fuel, charity and other expenses. Take note of the ones with prices which you cannot alter, like your rent. Make a new weekly or monthly budget reflecting cutbacks in the other expenditures.
Prioritise your needs over your wants
Make it clear on what you really need rather than what you think you need. Many people go into senseless buying when they are in a bad mood. For them it is therapeutic. This is the time to channel that energy to some serious thinking rather than into your purses
Try solar energy, turn off gadgets you can do without
There are several companies offering solar panels for as low as N15, 000. This can power your television, recharge your phone battery, laptop, fan and such basic amenities. With the abundant sunlight, it is cheaper to cut down on the increased electricity tariff and the persisting erratic power supply.
Grow your own food, find alternatives
Subsistence farming will come in very handy in these economic downtimes. Take up planting your own tomatoes, pepper, okra, vegetables, plantain, yam and even fruits, among others. Without a lot of hassle, these crops will do very well in your backyards or other small patches of land around the house. While you are saving on cost, you are also sure your family is getting the much needed balanced diet it requires and without the worry of travelling far to get them.
Exploit free services, applications
People carry about all sorts of mobile gadgets without ever fully putting them to use. Now is the time to get those manuals out, read them up and stop underutilising the gadgets. There are a lot of free mobile services to exploit. Where you can, make Whatsapp, Skype, or Blackberry Messenger calls, or make video calls, do so. Where you can send a message instead of calling, do so.
Make a budget and stick to it
Start by making a statement of your monthly income and then track how much you spend on paying bills, rent, buying foodstuff, toiletries, fuel, charity and other expenses. Take note of the ones with prices which you cannot alter, like your rent. Make a new weekly or monthly budget reflecting cutbacks in the other expenditures.
Prioritise your needs over your wants
Make it clear on what you really need rather than what you think you need. Many people go into senseless buying when they are in a bad mood. For them it is therapeutic. This is the time to channel that energy to some serious thinking rather than into your purses
Try solar energy, turn off gadgets you can do without
There are several companies offering solar panels for as low as N15, 000. This can power your television, recharge your phone battery, laptop, fan and such basic amenities. With the abundant sunlight, it is cheaper to cut down on the increased electricity tariff and the persisting erratic power supply.
Grow your own food, find alternatives
Subsistence farming will come in very handy in these economic downtimes. Take up planting your own tomatoes, pepper, okra, vegetables, plantain, yam and even fruits, among others. Without a lot of hassle, these crops will do very well in your backyards or other small patches of land around the house. While you are saving on cost, you are also sure your family is getting the much needed balanced diet it requires and without the worry of travelling far to get them.
Exploit free services, applications
People carry about all sorts of mobile gadgets without ever fully putting them to use. Now is the time to get those manuals out, read them up and stop underutilising the gadgets. There are a lot of free mobile services to exploit. Where you can, make Whatsapp, Skype, or Blackberry Messenger calls, or make video calls, do so. Where you can send a message instead of calling, do so.