If you build the habit of being accountable while resources are limited, it is easier to follow through when there's excess. Below is the list in no particular order:
- Have short n long term goals/projects n save towards funding them (keep in mind though that inflation and other economic factors may affect how soon u reach that goal)
- Prioritize ur needs over your wants (expensive wigs,accessories, jewellry, etc. are mostly wants)
- Spend within ur means
- Have a Monthly budget (expenses,income,charity/gifts,misc,etc) It helps you have a good idea of your expenses, hidden money drainers, etc. and to adjust accordingly
- Have an Alternative source of income if possible-{Blog, Craft, Plan small events, Sell stuff (used/unused) online (Instagram,Facebook, BuyMyLux, Jiji, OLX, Dealdey, Kaymu, Konga, Jumia). etc.}
- Invest in Yourself-Learn a skill/trade (Makeup, Tailoring, Beads, Baking, etc), Get Trainings & Certications in your field,etc.
- Invest in Property/Business-e.g. Keke Napep, Put ur car for up for use by Uber or other cab companies, Farming, etc.
- Invest in People-Help someone start a business and have a share in it or have a payment plan contract with interest or train them in a skill, etc.
- Sign up for a Health Insurance (Private HMO) NHIS/PHIS
- Reduce accommodation cost by renting a place with a friend or enjoy rent-free restricted life with the folks if single
- Monitor Electricity Consumption
- Monitor your Phone Data/Internet Subscription consumption
- Monitor your Phone Credit consu,ption
- Make a Fixed deposit in the bank towards a future plan (Short or Long term)
- Skip buying Aso-ebi of people you sre not close to
- Save from ur gifts n income no matter how little 500 per day is 14k per month and 168k per year (have an account w/o ATM or checkbook.you can have a token kept away for emergencies n replenish)
- Lend money to only extremely credible debtors except when the request is amount you don't mind not being returned
- Drive more or walk(its a simple exercise) or carpool
- Avoid people that ALWAYS leech off u
- Reduce Unnecessary Clubbing/Outing with friends (Save your drinks/outing money as they r usually triple the regular price)
- Cook more n eat out less
- Buy Groceries and Foodstuff in bulk @least a month's worth
- Farm if you can (veggies, fish,poultry,snail,etc)
There are sooo many other ways we can spend less & save money but i hope this list helps someone. If we evaluate our lives and learn to do things in moderation, we will find contentment & be able to increase our seemingly limited resources.
Toodles!XooX