The cost of living keeps rising thanks to inflation in Nigeria, which is the highest it has been in a while. You’ve likely felt the pain and pinch when you go grocery shopping or when you need to buy fuel when at the market to buy foodstuff virtually everything.
If you’re looking for how to level things out and stabilize your total cost, you will need to tweak how you shop and buy things. These tips will give an insight into how to manage money and reduce total spend.
- Check your kitchen and pantry before leaving for the market: Take note of what you already have at home to avoid mistakenly buying more items you already have stocked up at home. This might shorten your shopping list, and you’ll spend less, which reduces the chance of things going bad before you eat them. Check what you’ve got at home everywhere before buying more of the same stuff.
- Buy in Bulk: You will pay more money upfront for buying things in larger quantities. It’s important and smart that you buy in bulk. Typically, when calculated, you’ll pay less per item. If you do not need all your food items in bulk or groceries, you can decide to split the shopping with a friend or family member.
- Buy reusable items rather than disposable ones: Reusable products generally cost more but are usually a better deal because they last much longer. This eventually outperforms and outperforms its counterpart.
- Reduce food waste: when cooking more food, make sure to pack the extra. This will avoid wastage. It’s beneficial to preserve leftover food or throw hard-earned money in the trash later.
- Time your purchases: You might not have control over the price of groceries, but you can time when you choose to buy stuff and where. This is the ultimate hack for comparing prices and reducing the amount you spend on groceries and food.
- Store food properly: You buy a reusable container to help store food properly, especially the perishable food items before they all go bad.
These simple tips can help you stay within your means and manage your finances more responsibly during these times without panicking.