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Simple Ways to Survive the High Cost of Living in Nigeria


Did you know that 1 out of 10 people living from hand-to-mouth resides in the giant of Africa (Nigeria)?

No wonder the rate at which individuals leave the country keeps growing daily. Hence, the word “JAPA” is ubiquitous in every individual’s mouth.

Should we blame ourselves for leaving this country to look for a good life elsewhere?

Imagine how hard it is for a man with six children. With the constant increase in the price of fuel, food items, and others, how can such a man survive or even save money?

Fortunately, that’s the reason for this article. We will provide some ways to survive Nigeria’s high cost of living.

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Also, this article will help you to manage your salary very carefully. This will enable you to stay afloat even if the country is not in good shape.

Please grab a cup of coffee, and let’s ride together!

Summary of How to Stay Afloat in Nigeria

  • Diversify your cash inflow – this is one of the simplest ways to survive in this country. Spread your income across various profitable investments.
  • Buy essential items in Bulk – Buy vital things like washing soaps or tissue papers.
  • Always consider buying cheaper alternatives – Save money by finding more affordable options. For example, consider going for thrift wear (normal OK) instead of purchasing expensive brand clothes (Gucci, Lacoste).
  • Develop a habit of spending less money money money than your earnings. Instead of spending money money money on expensive items or luxuries, adopt a lifestyle to cut costs.
  • Spend on things you need – Learn to keep things simple and not have too much stuff.
  • Put your money in things that can protect it from losing Value – for instance, real estate, stocks, or other assets that tend to increase in value over time.
  • Avoid things that cost you a lot – we are talking about carrying girls, excessive spending on beers, subscriptions you don’t need, or bad habits.
  • Don’t postpone buying important things – Postponing buying essential items will not reduce the price of that item.
  • Develop a system where a portion of your MoneyMoney will be saved automatically – This is you preparing for the rainy days. Know this: your savings will keep in hard times.

Diversify your Cash Inflow

Finding ways to earn is essential in a country where the items can go up anytime.

Don’t just depend on your regular income source; try doing part-time gigs. These include freelance jobs or even starting a little side hustle.

Spreading your income differently will help you care for yourself in difficult times.

Imagine after the end of a month, you received MoneyMoney from 5 different places.

Buy Important Things in Bulk.

This method, which seems very common, will help save a lot of money in the long run.

Think about stuff you use often and almost daily, like soap or tissue rolls. Buying these items in Bulk is way cheaper than picking them up daily.

Even semi-perishable foods like onions should be bought in large quantities. This is better than buying in small amounts from the store.

Yes, we know that, at times, buying in Bulk is expensive. That is because most stores sell in whole. But that’s not a problem. You can team up with your friends to share the costs.

Understand that this approach will save you money and make you more aware of what you’re using.

You’ll be surprised how much longer those items will last for you.

Look for Cheaper Alternatives

Do you want to save a lot of money money? Then find cheaper stuff that works like the main one you wanted. For instance, add solar panels instead of a generator. Or even buy generic brands of your usual stuff.

And remember, don’t spend all your cash when you get paid. We know it’s tempting, but learn to control yourselves.

Yes, we all have bills to care for, but choose your accounts wisely. Managing MoneyMoney takes practice. Start small today so you can win big tomorrow.

Spend on Things that Matter

Many people think spending less means you need more money or are broke. But it is the opposite. Spending on things that matter will help you remove extra stuff from your life.

This is like deciding on what to buy and what not to buy. This is more than just saving money. It makes your life simpler. You get organized and feel calmer. This is because you’ve developed the habit of not competing with anyone.

For instance, you can invest in your education instead of spending on unnecessary items. Taking a course or buying books contributes to your personal development.

Put your money in things that can Protect it from Losing Value

Investing is the key to financial freedom. Plan and start putting some portion of your money to work. This will help you make more money more efficiently. You don’t need to work super hard for all your income.

But think about where you’re putting your money. Be smart about it because it may wreck you. We’re talking about watching out for scams that promise to make you rich quickly.

Before you invest in anything, do thorough research about it. Make sure it’s a solid plan with good potential.

Only leave some of your MoneyMoney in the bank, especially if it interests you. If you are not using the MoneyMoney now, protect it from losing Value.

You can change the MoneyMoney to a foreign currency like USD or Euro. Also, you can invest in stocks or bonds. For instance, Imagine you have N100,000 today, and with that MoneyMoney, you could buy ten pizzas from Domino Piz.

Now, if prices go up in the future due to inflation, and each pizza costs more, your N100,000 might only buy you eight pizzas. That’s a huge loss.

However, if you invested that N100,000 in something that can grow over time, like a small business or stocks, your money could increase in Value.

But know this: It is not that easy; you need to put in some work. In all, you have to play smart with your income.

Avoid Things that Cost You a Lot of Money.

We know the moment your salary hits, the urge to spend it all comes. But understand that the MoneyMoney will run out fast. Then you’re broke till next month.

We also know using up only some of your money is hard, especially with many bills. But learn to hold back a little now, or you’ll struggle later.

Learn to plan how you spend your income, no matter how little. Start by saving a little money, and your future will thank you.

Don’t Postpone Buying Important Things

Here in Nigeria, the prices of items keep rising a lot. This is shocking to everyone.

You might check the price of something today at the market but return later. The price will be different. That can surprise you.

If there’s anything you are thinking of buying, grab it now instead of waiting. The more you wait, the more the price keeps growing.

This is because the naira has little buying power compared to before.

Develop a System where a Portion of your Money will be saved automatically

It is essential for everyone working to create a savings system. This is smart because these savings will keep you safe during the dark hours.

Saving automatically is like having a plan that puts aside a bit of your money without thinking about it.

For instance, you get paid 500,000 naira every month. You can set it up so that 10 percent of 50,000 naira will automatically go into a savings account. This can happen each time you get paid.

With this pattern, without even thinking about it, you are saying 50,000 naira every month. Multiply that by five years and see the fantastic figure.


Making money is not easy, but managing it is even more challenging. Therefore, stop buying things that you don’t need and start saving.

Invest extra of your cash instead of leaving it to lie in the bank. While saving your money, try to look for other ways of earning.

Making a smart move like this needs hard work but pays off over time. That’s a promise. Just be patient and stay focused. A little step forward every day sets you up to win bigger tomorrow.


  • How do I save more money each month?

Cut the way you spend on junk you don’t need. Buy items in Bulk and find cheaper brands. Every little money helps.

  • Why should I start saving and budgeting now?

Starting takes a lot of work at first. But start practicing early with little money. You may understand the importance at the early stage, but later, you will definitely.

  • What is the best way to save and invest?

Put your MoneyMoney in places where it can grow over time. Things like stocks, properties, or your side business are significant. But do your homework first before deciding to invest.


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