Let’s see… So the year 2020 started with high hopes, better financial looks, savings worth proud of and some investments portfolios. But obviously, not many can boast of achieving all their goals. You are lucky if you get some done with all the loss in businesses, slashes in interest rate, pay cuts, downsizing, medical bills, inflation and so on.
To make ends meet and not blow up everything they have, some have resulted in the 101 food formula. For those who do not know what this means, having breakfast, forgoing lunch and having dinner. Sometimes, people opt for 011, skipping breakfast. (This is quite common but not encouraged for good health).
2021 isn’t far anymore and it’s time to start making sure that our expenses and needs don’t botch our plans to save, invest, start-up and the likes. This is why we need to remind ourselves of the measures that need to be taken without starving or becoming malnourished.
1. Prepare your meals
Refuel packs from the eateries or any of your favourite food joints are nice. Let’s say you spend N500 on these meals for breakfast and skip lunch, or vice versa, you end up spending roughly N3,500 every week for just breakfast or lunch. But if you used that same money to purchase a Kilo of Chicken for maybe around N1, 200, Tomatoes and seasoning, for N700, Egusi, Pumpkin leaf and ingredients for N800, you’ll spend about N2,700 preparing soup and stew that should last you more than a week.
2. Do not indulge every craving
It can get boring eating home-made meals sometimes, especially when you didn’t spend much money pampering your dish with many iniquities *Side eye*. It’s okay to have a lovely dish from that place you love once in a while. After all, we live once, so why not? However, this doesn’t mean every sad moment means an ice cream treat. Do not indulge every craving you have.
3. How do you transport?
If you do not drive or own a car, surely you must understand the comfort the ride-hailing companies bring to its customers. Who doesn’t want to sit in a vehicle with a good air-conditioning system while stuck in Lagos traffic? The only thing not enjoying the ride is your account balance. If it fits perfectly into your business, then, by all means, use the rides always. But if you are looking to cut your expenses without inviting ulcer, then taking the bus might come in handy, as they are way cheaper.
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4. Buy only what you need
It is so bad that we don’t have to physically window-shop anymore, not with all the businesses moving online and running superb delivery services. Just by a click here and there, a shopaholic can get her medicine. Lovely shoes – add to cart, Antic nail cutter – add to cart. The problem here is you don’t need these things. Try waiting 30 days and after that time has elapsed, see if you still want that same item. Prioritise your needs over your wants.
5. Reduce Netflix time
How much do you spend on data? How many hours do you spend surfing through Instagram videos, YouTube or Netflix latest reruns? Most people spend their time on their phones or laptops, thereby automatically renewing their subscription the moment it runs out. It’s time to cut down on that if you are interested in managing your expenses. Alternatively, you can spend the time you would have spent on screen with friends and family.
6. Join a health plan
It would be nice if your workplace has health coverage for her staff if not, you should join a plan yourself. This will help save some money. Instead of self-medicating and buying cheap drugs, putting your health and life at risk, you can visit a doctor at little or no cost and be properly cared for.
7. Get handy
While it is not advisable to fix a faulty wire yourself when you are not an electrician, you can take care of your laundry yourself. There are some chores we can handle ourselves with a little effort without paying for it. Cut down on utility and other repair jobs around the house.
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