Finance Tips and Ideas: How To Survive Current Nigeria's Tough Economy [Contributory]

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Jared
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#1

 

We currently battle high inflation, weakened currency ( N1,500+ / $), high cost of food items, fuel price hike, epileptic electricity, skyrocketing credit interest rates and many more.

How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?

Make a contribution below. Add your own tip. Even if it's to Japa. Say something to help others.
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PS: This forms AzĂ land 2024 Contest 1, and comment number 24 will be chosen as winner of N5k.

Let's go. Give us survival ideas, strategies and tips.

AzĂ land is an advocacy platform for financial literacy. We believe that knowledge is power and that financial literacy skills and knowledge are required to not only survive but thrive even in this current economy. This is the crucial time to be more money smart.

Why don't you join our community today and enrich yourself?
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Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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Kachy
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#2

 

Good topic. I think japa is the best option now.
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Jared
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#3

 

Now I think this period LOUD BUDGETING will help. If you don't have, speak out.
Don't let your gf send you to steal.
Must she use iPhone 15 Pro max? :laughs:
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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Greatness
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#4

 

Jared wrote: ↑February 2nd, 2024, 6:31 am How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?
Multiple streams of income.
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#5

 

Greatness wrote: ↑February 2nd, 2024, 2:12 pm
Jared wrote: ↑February 2nd, 2024, 6:31 am How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?
Multiple streams of income.
Multiple ke? We never even get 1. How we go take get multiple? :shocked:
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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Greatness
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#6

 

Jared wrote: ↑February 2nd, 2024, 5:38 pm
Greatness wrote: ↑February 2nd, 2024, 2:12 pm
Jared wrote: ↑February 2nd, 2024, 6:31 am How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?
Multiple streams of income.
Multiple ke? We never even get 1. How we go take get multiple? :shocked:
:laughs:
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CarolinaBaby1
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#7

 

First of, buy your food in bulk, a reasonable thing to do at the moment
When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰
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Jared
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#8

 

CarolinaBaby1 wrote: ↑February 3rd, 2024, 7:33 am First of, buy your food in bulk, a reasonable thing to do at the moment
Makes sense. bulk buying saves a ton of money. Guys take note.
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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YoungA
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#9

 

Good question sir. We never even get one stream of income
Jared wrote: ↑February 2nd, 2024, 5:38 pm
Greatness wrote: ↑February 2nd, 2024, 2:12 pm
Jared wrote: ↑February 2nd, 2024, 6:31 am How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?
Multiple streams of income.
Multiple ke? We never even get 1. How we go take get multiple? :shocked:
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Kenyboy
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#10

 

YoungA wrote: ↑February 3rd, 2024, 9:46 am Good question sir. We never even get one stream of income
Jared wrote: ↑February 2nd, 2024, 5:38 pm
Greatness wrote: ↑February 2nd, 2024, 2:12 pm
Jared wrote: ↑February 2nd, 2024, 6:31 am How can we survive this tough economic climate in Nigeria? Especially people who have not JAPA?
Multiple streams of income.
Multiple ke? We never even get 1. How we go take get multiple? :shocked:
Lol, i also wanted to mention multiple sources of income but you are right, the country is not helping matters at all
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YoungA
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#11

 

The current economic status is causing depression among the young and old aged citizens of the country but I think, a positive mindset will go a long way in alleviating the situation for us.
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CarolinaBaby1
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#12

 

Secondly, budgeting, very very important
In this harsh economy, we should mind the way we spend, not spending anyhow
When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰
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Jared
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#13

 

CarolinaBaby1 wrote: ↑February 7th, 2024, 7:00 am Secondly, budgeting, very very important
In this harsh economy, we should mind the way we spend, not spending anyhow
This is a key point. We must manage the little resource available to ensure the most important items are catered for first. :knuckle:
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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CarolinaBaby1
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#14

 

Jared wrote: ↑February 7th, 2024, 8:59 am
CarolinaBaby1 wrote: ↑February 7th, 2024, 7:00 am Secondly, budgeting, very very important
In this harsh economy, we should mind the way we spend, not spending anyhow
This is a key point. We must manage the little resource available to ensure the most important items are catered for first. :knuckle:

Thank you 🤗
When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰
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CarolinaBaby1
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#15

 

Then also, there's saving but nowadays it seems it's the other way round in Naija 🤣
When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰
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Jared
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#16

 

CarolinaBaby1 wrote: ↑February 8th, 2024, 8:05 am Then also, there's saving but nowadays it seems it's the other way round in Naija 🤣
It's like... e never reach to spend, how we go take save?

Guys, it's still possible. :money:
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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Kenyboy
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#17

 

Buy cheaper things, if A sells for 5k and B sells the same thing for 3k, buy from B
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Jared
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#18

 

Kenyboy wrote: ↑February 9th, 2024, 8:49 am Buy cheaper things, if A sells for 5k and B sells the same thing for 3k, buy from B
Provided the qualities are same. :winks:
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
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YoungA
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#19

 

Then no matter how hard it is, we should still save up.
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Kenyboy
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#20

 

Jared wrote: ↑February 9th, 2024, 11:33 am
Kenyboy wrote: ↑February 9th, 2024, 8:49 am Buy cheaper things, if A sells for 5k and B sells the same thing for 3k, buy from B
Provided the qualities are same. :winks:
Na Naija wey anything wey cheap na low quality 😔
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