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Nairaland Forum / Nairaland / General / Politics / 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession (783 Views)
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10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by jemimafelix(f): 1:49pm On Sep 03, 2016 |
Here are some things to cut down on in order to make it out of this recession financially sane. *Generator usage* It’s bad enough the economy is crumbling faster than a cookie but how many Nigerians can recall a lengthy spell of uninterrupted power supply. Our standby household generators have for years, been doing what the government cannot do for us. Now that the situation is getting dire, generator usage should be restricted to specific hours and to take care of necessities. Comfort can wait till recession is over and we are out of troubled waters. *Eating out* Anyone who actually cooks will know that restaurants serve overpriced, often unsatisfying food. So instead of taking your hard earned money to pay for ‘fancy’ food, go to the market, buy raw food and head to the kitchen. You’ll save so much money. *Driving walkable distances* The cost of fuel is higher than it has ever been in Nigeria’s history, so why not kill two birds with one stone while going for short errands. Take a walk or go for a run while running your errand. Your body and pockets will thank you. *Bulk buying of groceries* Constant grocery shopping can be such a chore so we tend to buy in bulk. However, a disadvantage of bulk buying is that some goods may expire or spoil before you get around to using them, hence cut your grocery shopping list down to necessities. Get what you need and not what you think you will need. *New clothes and shoes* Your old clothes are perfectly fine! Oh you think people have noticed you’ve had that shirt for a while? Frankly, it’s nobody’s business. As long as your clothes are not obviously tattered, there is no use going cloth shopping every week to impress people and depress your bank account. *Hanging out* We all love spending quality time with friends and family but instead of going someplace where you’ll spend more than you budgeted for (more often than not), invite them to your house and plan activities everyone can participate in. You’ll create a stronger bond and more lasting activities while saving money. *Vacations abroad* Also known as “the king of excesses”, vacationing abroad is officially a luxury at this point in time. Why go and spend your hard earned ‘naira’ in a foreign country contributing to the growth of their economy while leaving yours in the backseat. Stay at home! *DSTV subscription* You don’t need to pay for all the channels. It’s not a competition. You hardly ever watch more than 15 of the channels on the premium package, so why the bother? The smallest bouquet has news channels for the grown-ups and cartoons for the kids. *Water as opposed to juice and sodas* Some people think there is an award for living lavish. News flash: there isn’t. Most of these processed drinks you desire to gulp down your throat with every meal are not even good for your health and they definitely cost more than water. Drink water, you’ll live longer. *Unnecessary phone calls* Restrict your airtime to calls with purpose (work, business). There’s no need to ask your friend what he/she is eating or staying on a call for an hour discussing what nail polish color to wear to an event. https://lifestyle.thecable.ng/10-ways-survive-nigerias-worst-recession-29-years/ 3 Likes |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by sheyguy: 2:06pm On Sep 03, 2016 |
Loot recovery . . . |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by momentum85(m): 2:08pm On Sep 03, 2016 |
Nice write up! For d past 2years I have bn eating out, just yesterday I thought of procuring kitchen utensils cos of d current economy and this advice here has motivated me to facilitate and actualise my plans. Thanks a bunch OP 1 Like |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by TonyeBarcanista(m): 2:20pm On Sep 03, 2016 |
Nice write-up my dear OP! I have pledged to restrict my eating to home cooked food only instead of spending 400-500 in the restaurant. God help us |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by villareal15(m): 2:24pm On Sep 03, 2016 |
Hm |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by MrCounselor: 3:12pm On Sep 03, 2016 |
Nice one op, You want us to activate humility mood. I call this factory settings reset. |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by MadamExcellency: 3:23pm On Sep 03, 2016 |
Don't allow your online presence deprive you of any money making venture no matter how little you think of the proceed. Get every available money (dignity in labour) and don't allow an opportunity pass you bye. 1 Like |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by Beremx(f): 3:43pm On Sep 03, 2016 |
That moment when a loaf of bread you buy for 220naira Is now 300naira......na To switch To puff puff Be that! Congratulations Buhari!! ![]() |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by femu(m): 3:55pm On Sep 03, 2016 |
Another cost saving strategy is to buy food products directly from farmers. An example is Pork meat which is still more affordable than beef or chicken. If you make bulk purchases of Pork from me I will give further discount and you get it delivered to your home |
Re: 10 'Austerity Measures' That Will Come 'Handy' During This Economic Recession by jemimafelix(f): 6:29pm On Sep 03, 2016 |
momentum85: Nice one. Thumbs up. |
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