How Am Managing My Finance During This Subsidy Removed

The new government of Nigeria came in just last month and the removal of fuel subsidy was implemented, ever since then the level of inflation we have experienced has been too high though the reason why the removal of the subsidy is for the good of the country but then the economy has really been tough for the citizens.

We now buy fuel for almost a dollar, transportation fare is double, if you want to travel now you have to pay double of what you normally use. Aside from fuel, every other thing has also skyrocketed in price. In an economic situation like this if you are not careful enough to plan how you spend your money you may end up not having savings because what you spend is more than what you earn.

This really kept me thinking of a solution or a way to go about it then I realized there is a way out so I will be sharing it here with you guys.

Buy in bulk.

This is one way you can save yourself from spending too much, if you make a proper analysis of the things you buy single you will realized that it way to cost than buying in bulk even when you don't need them at the same time it is better you buy you stuff in bulk and save money. I was eating a biscuit and a friend of mine asked where I got it from because you can't find it in shops except you have to buy it in its cartoon. I told him I love eating biscuits so I bought one carton. He was surprised but that's just the best way for me to reduce the cost of buying one for #100 while I can buy 12 for #1000.

I cook my own food, am a student living in a student environment, you will understand with me there are lot of people selling food and student don't border cooking just buy and eat. I like eating outside most times just to save myself the stress of cooking but this will cost me a lot of money because I need to eat till i'm satisfied. I really was losing too much more to eating outside. I decided to start cooking myself with this method. I have been able to spend less on food and even have to eat what I want and how I want.

Another thing I realized that has helped me is my little garden. I was reading a post here in hive. I saw a planting method called the seedbed method so I decided to give it a try by planting vegetables and some spices like pepper, curry leaf and scent leaf. This has really helped me alot because I like good and tasty food. I will always want to add some leaves to spice up my meal, planting them has reduced the cost of buying. This is another wonderful way I have been managing my finances during this period of subsidy.

I don't just buy things that are not worth buying, I don't really go out if it is not necessary because the transport fare is high. There is always a way out of a situation. All I am trying to do is to understand the economy and make my plan towards it. I don't do more than I can afford. I know my financial limit.