Today in Nigeria, more often than not, when someone uses the word ”economy” in a statement, it’s usually followed by words that resonate displeasure. The reason is not far fetched, in that, the cost of living for the average Nigerian has sky-rocketed beyond thought. Salary earners undoubtedly suffer the most because their salaries remain the same, albeit the rising prices of commodities.
However, be it as it may, survival is a must. You can actually escape poverty in this country by having the right orientation and trying your hands on a few things. Whether you are an employed salary earner, a student, a youth corper, or a striving entrepreneur. There is always a way.
The following tips are aimed to assist you stay above the poverty line.
– DO NOT LIVE ABOVE YOUR INCOME
Your income represents all the money you make from the activities you engage in. It represents your allowances, your bonuses, your salaries, wages, and all other forms of earnings.
You should know your sources of income and calculate how much actually comes to you from these activities. Then you should assess your expenses and know the unavoidable and avoidable ones. After taking out the avoidable ones, decide whether you can have any savings from your income.
If not, then you should trim some expenses, tighten your belt and ensure you have some savings monthly. Do not purchase things because you want to impress people. Buy things only when you need them or when they can actually create some form of future gain.
If you discover that buying food daily from restaurants takes a large chunk of your income, then you might want to consider cooking.
As a worker, you can cook at night, and ensure that you have some left to heat the next morning, so that you do not have to spend as much on food in restaurants.
Don’t buy clothes that averagely go way beyond your income can accomodate. You can still look good without looking too expensive.
Remember, it is better to eat averagely for the entire month, than to eat lavishly for half a month, and starve for the remaining half.
– Be a LITTLE stingy with your money.
You do not always have to give. Don’t be deceived. Giving is very good when it comes from the depth of your heart. If you see someone suffering and decide to help out, that’s okay. But you don’t always have to oblige every Tom, Dick and Harry that comes requesting for a little loan that you know they will never pay back.
– HAVE A PLAN
The best way to manage your finances is to plan. Also, know what you want to get yourself into, and the activities that can fetch you money. It helps to write down your plan and work towards it.
– Tip FOUR
USE THE INTERNET!
The internet is a body of resources waiting to be tapped into. Everyday, new information is posted on the internet that can help you get some extra income.
Using the internet does not end with social media… browse useful sites and spot job opportunities, competitions, facilities, and every avenue where your skills can be applied.
There are numerous writing competitions online. New ones come up each day. If you are a skilled writer, you can write for blogs and websites.
Don’t waste those free hours you have at work. Engage yourself on the internet and find opportunities. I am not talking about scams and defrauding unsuspecting victims online.. No! There are legitimate ways you can make money online. Investigate about legitimate referral networks, etc.
– START A BLOG!
Blogging these days seems to be a worn-out idea. However, you can make so much money from blogging by posting unique and captivating content. See:How you can start blogging business in Nigeria and make money online.
Make sure your blog name is related to the contents and go premium. Make a couple of posts per day, and you are on your way to establishing yourself.
Remember to read articles on how to make your blog better and how to make more money from blogging.
Read: Steps to Grow Your Blog into Billion Dollar Business the right way
– START A SMALL BUSINESS
With each passing day, it continues to seem like entrepreneurship is the way forward. The advantage of having your own business is that you are not limited to a particular salary.
You will always make a profit as long as you sell. As prices are going up, yours too can go up, and you can have a better living.
Read: How to Start a Business in Nigeria
– DON’T WASTE YOUR TALENT
Everyone is born with one or more talents, and many are shy about theirs. For most people, their talents are to be used at their ”leisure time”, to just pass time.
If you are good with painting pictures or creative arts, then why let it die under your pillow? Find clients, research on ways you can make money from drawing.
Be creative. If you are a skilled dancer, as a student, you can join a local dance crew and get paid for attending shows. Just make sure it does not do much damage to your studies.
Skilled drummers these days are sought after by bands and even individual artistes. Don’t let your talent die.
– DUST OFF THE ‘FREE’ MENTALITY
Do not always do things for people for free… Especially when you know that they would have to pay if they were to get it done by a professional.
There are always chances to make extra income by helping people out with little things like repairing phones, drawing up business plans, drafting cost analysis, etc.
Do not be scared to ask ”how much are you willing to pay?”
– DO NOT LOSE MONEY UNNECESSARILY
There are various ways by which people lose money every day without paying attention. The first is gambling. Your gambling might be at a small scale, but if it rips even N100 off you every day, then you probably should stop. Another angle is sports betting.
Even if you must place a bet, ensure that you analyse all your facts, and you can be at least 80% confident that you won’t lose your money before you stake.
I will not dismiss football betting as a ‘bad idea’, because people make so much money from this avenue these days, but if it rips you off each day.. Then you probably should stop.
Another way people lose money is ignorance. When you want to purchase a data plan, ensure that you are getting the best possible at that price.
Remember that if you withdraw more than four times a month, your bank charges you. Pattern your withdrawals! Also, ensure you always buy things at the best prices possible. Do not lose money unnecessarily.
– KEEP YOUR EYES OUT
Always keep your eyes out for opportunities and information. Just because you have a job does not mean that you shouldn’t keep your eyes out for better paying ones.
Never miss out from opportunities. There is never a harm in trying. When an opportunity comes your way to be part of something, that looks unlikely for you to benefit from… ensure you give it a try.
As long as it costs you nothing. Don’t be limited to your space.
– ATTEND COURSES AND GET QUALIFIED
There are numerous courses that are related to various fields. Identify the ones that can help your career, and go for them. Get the certificate, and use it to your advantage. Also attend educative seminars when you have the chance to do so.
– LEARN HOW TO HANDLE SOFTWARE APPLICATIONS
Applications are being used in a wide range of organizations these days to make their jobs faster. Being able to use some of this applications might give you an edge over some others competing for the same jobs you are after.
Also, if you are very good at using some of these applications, you can get hired on contract basis, and you can make money from time to time from your knowledge.
I hope this was helpful. Don’t be lazy! The economy does not smile on laziness these days. Use your hands, and use your brain.