"Focus is critical to your success, but sometimes, you have to force focus to be focused." - Lanre Olusola, The Catalyst
Firstly, I'd love to welcome you to the the new month. *It's September already. Yay!!* Secondly, it's official, we have slipped into an economic recession in Nigeria. Like things were not bad enough already. But this is not a 'woe-to-me' post. On the contrary, it is aimed at helping us get through these times, and save while at it.
I remember a friend telling me, sometime in December 2015, that it was unfortunate that I'd be serving my country(NYSC) during these financially troubled times. By then, we had not yet slipped into this recession in Nigeria. I decided to make the best of the year. And I'm glad to say that through this crazy economy, especially these past few months, I have 'adjusted' my spending and have turned that 'misfortune' to a testimony. Truly, it is the best thing I have done for my finances! What I did?
SHOP WITH A LIST
I used to be one of those who just walk into the supermarket and pick up anything I feel like. But recently, I started going grocery shopping with a list. It has helped me cut down on unnecessary shopping and helped me really watch what I eat health-wise.
TIME MY PURCHASES
Most stores put various items on sales at the end of the month. So, rather than buy the things I feel I need any time I feel like, I write them down and wait until the end of the month. Most of the things I have written down end up going on sale, and the waiting period helps me evaluate if I really need some of the things on the list. Those that I don't really need gets cut off. You see, a few Naira saved!
PACK MY LUNCH
Since I buy everything in bulk, I end up having so much food at home. And it doesn't make sense to me to buy lunch out when I can make it myself, and be sure of what I put in my body. So, while preparing your breakfast, you can prepare your lunch too and pack it up for the office. This can help you eat healthy too.
TRACK AND NEGOTIATE MY BILLS
Recurrent outflows like transportation, electricity, and waste bills are easily negotiable. And, if you have to port to a different service provider to save money then do. Others like phone bills, especially for those on prepaid plans can easily be cut. If you are one of those who use up to 10,000 Naira on voice/data plans, you might need to cut it a little. Especially if you only use it to chat with family and friends.*rolls eyes*
SHARE THE BILLS
Rather than taking a taxi alone and paying the full bill, why not share a ride with a co-worker who is going the same way with you? You'll pay half the bill and, if it's your thing, enjoy a conversation with the person.
JUST SAVE ALREADY!
No matter how much you earn, with a little management and planning, you can put away one-third or one-quarter of your salary, or whatever works for you, in a savings account. I just found this plan with my bank and its sister insurance company that allows you save a particular amount monthly for a period of time of your choice. During that time, you can only deposit and not withdraw from that account until the end of the agreed period. Of course I registered! *Wink*
Who says that you can't save through this period?! If you put your mind to it and follow these tips, I'm positive that you will see a difference in your savings and finances. Feel free to adjust any of the above tips to suit you, and share any tip(s) you've got in the comments section. Someone might need it.
Do have a great day!
- The Lady
“Have not I commanded thee? Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee whithersoever thou goest.”
Joshua 1:9
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