My plan for surviving the current inflation

With the high rate of inflation and increase in prices of all items and services in this present season, much has been said on how the average citizen will survive the effect. I, for one, have dived into a lot of thought regarding what I can do to reduce my expenditure in order to have enough to go around for all of my needs until the inflation is curbed.

Although it's worthy of note that it's quite common to have an increase in the price of goods and services during the festive season, this time around it seems to go beyond what we usually experience in years past, and I must say that one of the major reasons for this is that the entire world economy hasn't totally recovered from the effect of COVID.

There's also a bear market that has affected the crypto world, and to crown it all, most organizations that weren't able to do business during COVID or fell victim to losses due to the effect of COVID have hiked the prices of their goods or reduced the quantity it usually gives at the initial rate prior to COVID, so below I listed some things I'll amend and put into practice in order to not get overwhelmed by the effect of the inflation.

https://files.peakd.com/file/peakd-hive/vickoly/23t76oRc3zjSnyfgC6F2V79yxUuq7CDvbvCH72sfweFTqZLzbJH6hBHqwKC3TkJ7GPGAs.png

• Reduce My Budget Generally: Although I'm not the type to spend a lot, if I'm going to survive the inflation and the hike in prices of all items, then it's best if I reduce my budget or the rate at which I purchase some things. For example, on a monthly basis I spend no less than ₦10,000 on data, so when putting into account how to have enough money for other aspects, I felt reducing my data budget would help me use that for other needs.

• Buy items in bulk and from Wholesalers: As a bachelor, I spend some money in a ridiculous manner. Although I don't like eating out, which means I cook my meals, most times I buy those food items in pieces whenever their needs arise, and this literally increases the amount spent on them in total. But I believe getting these things, foodstuffs for example, in bulk from a wholesaler will help reduce cost and as well make me focus the remaining money on other necessities.

• Get another source of income: My present streams of income could help to a certain point, but with the rate at which things are going, I'll need to dive into another business or something that'll earn me more in order to meet my needs, that of my loved ones, and as well as save against any emergency expenses that might arise. I still do know what to do presently, but I'll probably work more on my graphic design skills in order to start charging people to help them design flyers and the like.

https://files.peakd.com/file/peakd-hive/vickoly/23t76oRc3zjSnyfgC6F2V79yxUuq7CDvbvCH72sfweFTqZLzbJH6hBHqwKC3TkJ7GPGAs.png

That's about all on my plans for how to survive the current inflation militating against the world economy and my country. I know these might not come so easily as I need to adjust in most ramifications to make them worthwhile, but I'm ready and up to the task to make sure the inflation doesn't get hold of me. I hope you'll find my list helpful to you as well.

Thanks for your time, have a blessed and productive day ahead.