Hello, everyone.
I welcome you to my blog. Currently the world's economy is in a kind of recession, and my country's economy has even gone past recession. We are currently in a state where a single financial mistake can push you off balance, and you might never be able to recover from it as things only keep getting worse. Never thought we would get here; we all knew things were bad and difficult but did not know it would get to the point that we are today. Those days there were certain foods tagged as poor man food, and just anyone could afford them, but today even the poor man food has become a luxury that not everyone can afford anymore.
These days even those who are extravagant have been forced to choose needs over wants, as the flow of income is not what it used to be and the price to afford our basic needs is outrageous too. The flow of income reduced and the price of goods and services skyrocketed, leaving everyone between two hard walls: you either go for basic needs and enjoy later or go for wants and suffer later. The current economy is so hard that once one falls off balance, gaining back balance becomes nearly impossible, and these days everyone has their own battles to fight and will not want to leave theirs to come help you fight yours, which is the more reason one has to be very strategic and make certain financial decisions no matter how hard.
The high cost of living has brought a lot of Nigerians into taking certain decisions; some of these decisions we really have not come to regret; instead, we have come to realize that we were spending too much. Whenever I am in school, I prefer takeout since I hate anything that has to do with cooking or even being in the kitchen, but with the recent hike in the price of goods and services, the cost of already cooked food from our plugs is outrageous, and it helped bring the talent I thought I didn't have. I never knew I was a chef until now.
I have decided to cut down drastically on takeouts and cook by myself. Funny how the money spent on a single meal when you do takeouts can be used to prepare a long-lasting sumptuous meal, this is a lesson inflation and the high cost of living taught us. Cutting down on unnecessary spending like going to buy or eating junk even after eating food is another step one had to take. Now you avoid unnecessary spendings like your life depends on it, not like, but because it does depend on it. You can spend on wants and end up not being able to afford basic needs.
Cutting down on unnecessary spending and only going for needs instead of wants has really helped us to cope in this harsh economy. It is really not easy, but taking some financial decisions has been of great help, but the truth is, with how harsh the economy is, every financial decision that we make can only make it a little mild; the best solution is to increase our flow of income, which is still not an easy thing to do.