It's good to be back again on the earn, spend, and give the community, thanks to 
A lot is happening presently in my country, inflation is at its peak, and surviving daily is a thug of war. For the lower and middle classes, they can tell more stories of how difficult things are becoming daily. At a point, it became confusing because we the citizens no longer understand how the economy of Nigeria became this bad. The government seems to be in confusion also, not knowing the next step to take on the happenings in the country.
Since the beginning of the year 2024, things have changed drastically, the prices of goods skyrocketed beyond imagination which is affecting the lives of the citizens. It has become so hard to save money these days because the value of our country's currency is depreciating every day. It has become so disheartening that saving money to spend later looks impossible.
The rate at which prices of goods are being hyped is too much. Every one of the goods produced is now being reduced in quantity and being sold at higher prices. It's impossible to go to the market today and buy goods for a price and then go back tomorrow to get them at the same price. The rate at which sellers hyped prices all in the name of the devalued country's currency makes saving impossible. #50,000 can no longer buy foodstuffs for a family of four for a month, many have died in the process of trying to feed themselves.
Investment is a good way to live off poverty and some see investment as a waste of time. There are many areas in which one can invest but due to the lack of trust and fraudulent acts that people are involved in, it is so difficult to invest in most businesses.
Locally many consider thrift as a means of saving, which is a good one. Thrift is a process of keeping some percentages of your earned money with a person who specializes in helping people keep their money while he or she is being given some percentage. Although this has some risks, such as being robbed or murdered then the money kept with him or her is gone for life. Bank is being considered the safest place to save money but what happens when the bank is also involved in fraudulent acts?
Recently #100,000 disappeared from my friend's bank, she went to the bank to complain but to no avail, which means the money was lost forever. All these acts make saving very difficult and working honestly to earn a living is also a thug of war.
Thanks for your time and your comments will be appreciated.