I have been away from the hive blockchain for some days now and that is because of my preparation for my examination another reason is a result of the fresh hardship instilled on Nigerians through the removal of subsidies without any plans in place to get things bearable for citizens, it's been so hectic the past few days, some of us who are unable to afford the increased transport fare will have to move around on foot covering possible regions to a reasonable extent, so when I get back home, all that my body is craving for, is a good time of rest and food. With the high spike in fuel, it is only certain that the price of commodities will increase as well, which means the days ahead may even be tougher for thousands of Nigerians who are already living in hunger and abject poverty.
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What I have played in my head right now is the way I can survive this period of high inflation, it has been difficult before now, but it appears the days ahead are going to be scarier than we think. I have learned about some survival strategies and that is what I have come to share with you;
Re-asses your spending habit: With inflation, it may be very difficult to live within a considerable means, it may even be difficult to understand where exactly your money is going, you need to take a moment to reassess your cash flow and where exactly it is going into, in order to do that, you need to keep in check where your money is going into. Examine where your funds are going and determine if there are things you can do without temporarily, just to ensure that your needs are adequately covered like groceries, transportation, housing, and utilities. In some cases, there may have to be a stop to eating out, gym membership, and certain television subscriptions.
Be weary of debt: Remember that, for every debt you take, you have to pay them back, so resist the urge to go into debt for something that wouldn't yield any profit in the nearest future, adding on a loan at this time except it is for a profitable business need might not be so smart.
Learn how to bargain: More than ever, this is time for you to top your bargain game, market women/men will give you an excuse that things are currently difficult, but that should not in any way prevent you from bargaining.
You must be strategic about savings: With inflation also comes reduced interest on savings, you shouldn't give up on savings, you should just be strategic with it.