Bitcoin Forum

The past eight years in my country have been filled with several economic challenges. The government has run the economy badly which is leading to a total economic breakdown. The high rate of unemployment, double taxation, inflation, fall or currency value, etc. is now the order of the day. The government has failed to increase the minimum wage of workers to reflect the rate of inflation. Workers are still earning the same salaries. Many citizens of the country cannot provide the basic needs of life. Many parents lost their basic source of income and cannot afford school fees.
There are high costs of goods and services plus the scarcity of fuel and an increase in the price of gas.

To survive these economic obstacles these are the strategies I and my family used to cope.

Homeschooling: After a close analysis of my income and expenses, I discovered that school fees eat deep into my finance. Private schools have more standards than government schools but they are very expensive. Government schools have more qualified teachers but they are poorly funded and lack teaching facilities. Cheap private schools are poorly managed and lack basic amenities making them worst than public schools. The quality private schools available are very expensive and far over my income.

But the Covid-19 lockdown gave my wife and me the conviction that homeschooling our children is possible because we observed that their academic performance improved while we schooled at home.
To acquire the relevant skills my wife studied and passed the teacher's qualification exams and became a registered teacher. Instead of securing a teaching job, we decided she starts homeschooling my children. We bought all the facilities and textbooks and got government approval to start a home school. I also serve as a part-time teacher because I am also a qualified teacher but my full-time paid job is three times a week for classroom classes. We also engage in excursions, and sporting activities and they socialize in our religious gatherings and visit their cousins during holidays. So socially they are balanced. Although the task is very demanding with the internet and proper time management, the children are doing well.

Bulk Buying: There are so many middlemen in the agricultural sector of my country which leads to the high cost of food items like cereals and tuber crops. We learned how to locally preserve our food and we buy in bulk or from wholesalers. This helps us to avoid the profit of middlemen making the prices cheap. A basket of tomatoes of 40kg fresh tomatoes might be less than the $5 bulk price but could rise to $25 if it goes through the channels of distribution.

Seasonal Food: Most food we consume in my country is produced locally. The country lacks proper storage facilities or policies which leads to agricultural waste. Therefore, consuming food in its season is cheaper than when it is not available. An example is that now is the season of yam production and the price is cheap, but potatoes are expensive because it has not matured on the farm. Immediately the potato harvesting period sets in, yam might become scarce and expensive. So as a family, we consume alternative cheap food items in its season. This helps to cut a lot of costs.

Low-key celebration: It is normal to spend during Christmas, birthdays, Easter, and other holidays but overspending might affect us negatively. Hence, all our celebrations are low-cost. The children understand because they know that buying new clothing or organizing big parties might not be financially friendly to the family.

Growing some crops: We have little space in our compound and we have started a vegetable garden which has cut the cost we spend on vegetables. We have also started plans to develop eight plots of land Cassava farm that can provide a year-long supply of our main staple food called the "garri".

Cheap but quality products: I am not too concerned about flashy or current products. The family dresses modestly and not necessarily wearing clothes in vogue. Fairly used items a cheaper in my country. Buying new items like cars might be very expensive but going for a fairly used but durable product is cheaper and better. Toyota cars are cheaper and easy to maintain in my country. The parts are readily available and they fit the Nigerian road.

Investment: I know that the time will come when my wife and I might not continue able continue homeschooling. My first child will be moving to a conventional secondary school by September. The savings I get from cutting cost is invested in real estate and bitcoin. If I can own my home, the children will be able to attend quality schools because rent also consumes a large chunk of my income. I am not planning to buy or build a house if I can raise enough money. I also believe in bitcoin that's why I have plans to hodl for a long time.

Relocation: When we started our homeschooling it was clear we needed a bigger house at cheap rent. We had to move out of our environment because a bigger house will be more expensive. We had to move to a new bigger house in another cheaper environment that still has functionality and basic amenities.

These survival strategies might not be the best but it has helped me to live a debt-free life. Unlike most of my colleagues I have not collected any loan neither am I under any easy-buy payment obligation and my family is doing well.

This is a good set of strategies, but I am afraid that the home schooling part could not be an option in many countries around the world that might be going through difficult economic times. For example, here in Venezuela, I have never heard of anyone home schooling their children (not matter how bad the economy is), people need to pay for the school, transport and fees of private education even if that means to cut other expenses, otherwise, the children put their education on hold.

However, the other advice you give are fairly good.
Since you are married and with children, would you recommend people in their 20-30 to avoid having children if the economical conditions are alike those in your country of Nigeria?

The strategy you mentioned seems to be very useful if applied in the current economic situation. because you and your family have also implemented it. My strategy is not as good as yours. but maybe I will slightly imitate some of the strategies you wrote. because the conditions in my country today are similar to the situation you describe. where high inflation makes the prices of daily needs soar, but the amount of salary does not increase. so that income and expenses become unequal.

Is the problem of poor government schools global? I used to think that it is confined to certain countries, but unfortunately it seems from your words that many countries complain about this problem. Unfortunately, home education needs stimulation, and therefore it is not easy for all children to have sufficient motivation and discipline for that.

In general, the solution to economic problems is to think carefully about the financial policies of individuals, and the solutions may differ from one individual to another and from state to state, but you decide, and your knowledge of investment will multiply your money quickly.

These are some good strategies for saving money, especially about buying quality products. There's a bit of a tax on being poor, in the sense that you might find one pair of boots that will last you 5-10 years due to quality, which cost $250, but someone who cannot pay that cost upfront may end up buying a $100 pair new each year so pays up to 4x more over the same time period. Investing is another key point, but you should do it sensibly, I'd much rather receive steady returns of say 7% per year than trying to gamble and double my money (or go bust) in the space of a single year. The compounding effect has been called the eighth wonder of the world for good reason.

In terms of bulk buying, it's advisable to do that on a weekly basis especially if it's about your food. That is what we do when we do shop our groceries. And my experience with that is, there are some weekly basis of going down with food prices but there's also the opposite.

Someday you'll be wanting to build a house for your family even it's not going to be an investment, at least you'll be getting a security that peace of mind that you're living in a decent place. Aside from investments and savings, do not forget to increase your source of income.

This may not applicable to everyone but its a good idea to set-up your strategies on how you can deal with the economic situation especially with a threat of higher inflation and another financial crisis.

With this, I’m also thinking on how I can survive the threat without suffering that much, this is a good idea and I love the thought about living within your means and cutting some of your expenses just to survive the crisis, though you can practice that even if there’s no crisis.

the strategy that you implemented was quite good in maintaining directed survival in a crisis situation that hit your country. I assess that if this can happen, it doesn't have to be when you know you are in a crisis phase or before the crisis hits your country. I mean, maintaining a standard of living will be better done by saving from an early age than living in spree, which means there is no management of a situation that is  will happen in the future.

but did you know that this sector must be supported by self-will because some of them are out there even though their country is in crisis but they don't want to change their lifestyle because there is no will in them so that some incident can that cause a crisis sustainable for their lives.

i support what has been described in this thread even farming is my hobby and it is an interesting part to do business in this life.

Your survival strategies are very good and you can implement them in almost every country. Unfortunately, not every country allows homeschooling or people lack the skills to properly teach their children. Anyway, it might be worth mentioning that you can save a lot on electricity or heating if you limit yourself. Depending on the country you live in, you can save a little to a lot.  :)

When governments manage the economy poorly, the solution is to think outside the box by finding skills, ways to learn, and a two-year job so that you can earn money that is considered little in a country, but it is wealth in your country.
For example, trying to earn $500 is wealth in some countries, but it is easy to earn it if you have high programming skills, or earn its text by joining signature campaigns, which are not enough to buy basics in some countries, and so on.

Always the idea and that is enough. The only point is to adjust especially if the situation would push you to do so. We are going through different circumstances basically, and even if you are earning on above average lifestyle, once a problem affects the majority, you will need to somehow adapt with changes. On my end, I tend to make alternatives whenever I am saving up to something. Perhaps making my own food to be brought at the office for me to avoid eating on fast food chains which are basically more expensive. Also, walking if the distance isn't that far and lastly, not wasting any food. Sometimes it just depends on the individual.

Indeed it is tough to think "why should we adjust? governments should be doing these things for us". Waiting for governments to aid economic related problems would cost you forever. So better start it with yourself to save you time. Also it would be you, to benefit from it so I think it would be just fine.

The economic situation of some nations can drive you nuts and as such, one has got to apply a lot of skills to be able to attain some sort of a comfortable lifestyle. You've got a pretty good one at OP, although there is one thing I don't really understand or perhaps would need certain clarification.

*Homeschooling: This is an unpopular option in Nigeria and as such, what are the government required criteria to home school your wards?
Meanwhile, as much as Homeschooling might seem like a good option to manage and fit in the economic situation in Nigeria, being the actual teacher to your kids or wards comes in a different environment and your wards might not give you the attention they ought to.

*Low Key Celebration: Not the typical way for a Nigerian but surely, you still could come through lowly.
*Grow what you eat: That's just hygienic and definitely something a lot of persons should practice. You get crops free from chemicals and preservatives. That's if you didn't put it there yourself.

Generally as humans, we would always find a way to coup and that's just how we survive. You don't wait till you zero out to make plans, always plan for your days ahead.

The celebration thing is something that I can attest to. I haven't celebrated any occasions apart from New Year's Eve and Christmas and it has seriously reduced my expenses for last year. Also, staying at home and cooking food for yourself will drastically help you in lowering down your expenses, too. I think most people today have this habit of eating out that 'eats' out most of their finances, leading to a lot of problems financially for them. It all boils down to self-discipline and self-control on your finances. If you don't have either of this, you're really going to get a hard time building bank and keeping your pockets filled. ßÍ

I've learned to be budget savvy if it's about the celebrations. I'm not really into it although if I get along with people that do celebrate it and as long as I'm not spending any penny on it, that would be fine for me. But as to my celebrations, I don't really give that much attention to them especially if it's my birthday. Yeah, I know that many do celebrate it a lot but I just don't and the last time that I celebrated it I think I was 10-11 years old and it was never followed having an initiative from me. It's good to celebrate but we have to align it with our budget constraints since the economies of most countries now aren't doing good.

Nice strategy you have created for yourself and I think some of us can take a look on this and ensure we are doing our best to spend less and save more. Inflation keeps increasing and we don't even know when it would finally ends that is why we need to amend the way we spend money so we can survive this tough time.

There are some persons that would not mind about your survival strategy because they are wel to do. They have businesses that is bring constant capital to them and if we are complaining they might not feel it because everything is good on there side, since all fingers are never equal..

Lowkey celebration
Investment

This is where i do put my focus on on which im really that making adjustments when it comes to spendings.Im accepting that im a big spender when it comes to family gatherings or events or something in correlated
which it do really get a huge impact or partial with my savings or overall money that been earning.This is why i do make out adjustments and realize that im really that spending too much on which in a way
that it isnt really that something worth because you are the ones who would really be suffering on the time that you would be having those financial problems.

Everything you write is almost all relevant to the situation in a developing country like mine. It's just that strategies like what you do are sometimes not carried out by most people, especially in terms of education. Instead of homeschooling, parents in my country will send their children to "favorite" schools in the area under the pretext that after graduation they will get a good job, but that is not necessarily true. Because it has become a stigma in my area that homeschooling is identical with (sorry to say) a special needs child.

Nice tips, I'm fan of growing crops at home. As long as one has got some land and water, food need can be sorted out, one can also  trade for other supplies if there is extra left, just like good old days.

That's really good, because those who have land in their own house and can use it to grow crops that can be consumed and sold to the market will always feel enough in their life and always have peace in their home environment. Because besides being able to make a little money when it is supplied to the market, we can also save spending money in life to buy food elsewhere because we already have it at home.

And even though it is a very good idea, what I see in my environment is that not everyone wants to use the land around their house even though they also have water to grow edible plants. In general it's really very unfortunate, but I also understand that because maybe they don't have much time to take care of the plants after they have planted them or they really don't like planting anything so they are lazy to be farmers in their own house.

Keep it up, OP. If you manage to progress in these conditions, you will gradually build up a heritage, and as time goes by when you don't realise it, you will see that better times will come and everything will be easier. A lot of people sacrifice their economic future to wear flashy clothes and stuff like that but you are doing the opposite, building yourself a great future by simply controlling the present. Bravo.

In Africa, once you are married you must have a child. It is also mandatory to get married. After a few years, if there are no children, you and your spouse's parents will start asking you if there is any problem. So generally Nigerians cherish marriage and children. Currently, people are not having so many children, just two or three is now the norm in urban areas. So I will never advise anybody not to get married rather they should get married. But you must plan before you get married and keep planning during the marriage. Marriage and children are beautiful things, most religions see them as blessings.

The economic situation of a country might also get better, as we are believing it will in Nigeria.


The Nigerian government has a policy of compulsory Universal Basic Education. This means every child must go to school and learn basic educational knowledge through both formal and non-formal education. But you must take note of the following:

Qualified teachers: The teachers in a homeschool must have the basic certification from the Teachers Registration Council of Nigeria.

Examination: Your children must also write internal and standardized tests. My son will be sitting for the Nigerian Federal School examination by August.

Curriculum: Your homeschool must have and follow the scheme of work and guidelines of the Nigerian curriculum. You can also adopt other countries' curricula in addition to the Nigerian type. You must not also teach what is against the Nigerian Policy in Education.

Learning Environment: You must ensure that you have the space and time to teach your children. There should be chairs, tables, shelves, ventilation, lighting, etc. Your children should at least be comfortable.

Quality Learning and teaching materials: You must have the scheme of work of all the subjects and buy these textbooks and ensure you cover them.

Time maximization: One of the benefits of homeschooling is that you can plan the classes to suit your schedule. Classes can hold at any time even at night or early hours of the morning. Sometimes during holidays, we fixed classes. In homeschooling, you must maximize every single time you have because you cannot predict tomorrow.

Rules and Order: Our home school have rules which are executed by the prefects and teachers. We have property prefects that arrange and safely keep school facilities. The library prefects are in charge of books and sanitary prefects clean the class.
In a typical Nigerian school, there is order. Members from Nigeria can confirm this fact especially private schools. They use both the carrot and stick. My children know and treated me like a teacher during learning because I behave and act like a teacher. My wife is the disciplinarian and as the headmaster, I handle higher disciplinary situations. After school, they know us as very loving parents and we are best friends. It's just for you to make them understand that we have two important institutions in the house: the home and the school.

I am in a country in which we really need to like party like there is no tomorrow that is why we need money on this a lot of people saving on it but also there are some will take a loan mostly when its their children's birthday but in other country i noticed they celebrate it but only few are invited as it is low key but here almost all people know you will attend so meaning you need to spend a lot and what i realize recently that when it comes to your son/daughter birthday he/she is not the star those people who attend so I promise to my self in the next birthday of my child we would spend it in playground anywhere that she will enjoy which no need to spend huge amount just to prepare foods for people

All planning's which you have mentioned are really good and everyone should do it but I think the point of growing crops is very simple and everyone can do it without any restrictions. investment strategy is also a valuable source but you need to give knowledge to your children first because they will have bitcoin but if they have no idea about its reality then how they will get profit from it.

Schools provided at home are not available here because the government and private school provides certificate to its students while at home we just can teach our children but cannot give them certificates and there is no any such job which gives employment without certifications.

The ideas and planning which you describe are really beneficial and easily can manage but some of them are not possible due to rules and regulations of the country like that are home schooling. Overall hardworking is good and it seems that you are really hardworking and think deeply for the future of your children.

Low key celebration is the best.

Most of the families wants a big grand celebration even though they are shot when it comes to budget, some of them even take loan form the bank just to show off to their friends or to their children friends, which is not really a wise thing to do. I think this pandemic made us realize a lot of things that we should have done a long time ago. But overall, your survival strategies OP are all good.

The first thing I have to say is don't go into debt if you can't pay it. The second is to live simply and not go overboard by pretending you can afford to live up to your lofty lifestyle. @OP has given his tips for surviving in these tough economic conditions and I think we will find our way to overcome difficult situations.

If we have a monthly salary, we can allocate it for each expense and don't forget to save for sudden needs and future savings. Reducing buying things that are not really needed can save you money so you can use the money to save for more. Likewise for primary needs which we always prioritize, we must be able to choose which are primary, secondary and even tertiary so that we do not buy goods that are tertiary needs.

As always, I like reading about how people in other countries are doing and what their economic conditions are--so thanks to you and OP for sharing a little about your experiences (I didn't know or forgot that OP was from Nigeria, so an extra thanks for clarifying that).  Sounds like those conditions are lousy pretty much everywhere.

Die_empty, all of those things you've done are solid.  In particular, I think the real estate investment will pay off in the long-term, and that's important since you've got children.  Is real estate expensive in Nigeria as compared to a country like the US or somewhere in the EU?  I've never dabbled in the market, so I'm completely ignorant as to what houses and land go for in different countries.

And I agree that homeschooling isn't feasible for many people.  You sort of have to be intelligent parents to do it, and there are a lot of idiots out there in the world, not to mention those who wouldn't be able to commit to the time it takes to school their kids.  Props to you, OP.

It is interesting how different the culture there is from what you would find here in the Americas.
Usually here in Latin-America there is not much family pressure to get married or have children, actually more people are opting not to have children, to have more money. I personally have like 5 friends, all of them in their 30s and none of them have children and one is engaged.

Here if you just decide not to have children or get married, usually nobody cares about it and leave you alone. What do you think about it?

You are right. before the Covid-19 pandemic started. lots of people partying or having extravagant celebrations. even exactly as you say. when his financial condition did not allow it. but he forced himself by taking out a loan. and then when the maturity date of the loan must be paid from there he realized that the step he had taken was wrong.

holding a celebration simply and potluck is a wise thing. we don't have to stress ourselves out with the desire to make fancy alignments. a celebration should be a happy day and bring happiness. and happiness doesn't have to come from luxury, but simplicity can bring happiness and serenity in life.

There are many ways we could make use of a particular strategy to help survived through the economy challenges, this has to be a personal approach and determination, we need a commitment to achieve this, we have to know that there's no particular place that does not have this kind of exper but when we remain determined to achieve success in whatsoever thing we do, our hardworks will contributes to the survival even while others were complaining.

That's hell of idea. well i was not aware of the term that you have to approve you home school to teach your own children well now i am also going to search about its procedure or it will be more beneficial if you tell me how did you do it. i mean to ask, your children's study level at home schooling will be considered as physical going to school right?
Yeah, That's what we also do, We buy daily usage items like flour, rice, oil and other grocery items that are used on daily basis. well let me tell you, this method is the most appreciated method and most favored one by most of the peoples in past.
Great idea. well i admire your efforts. becuase this idea is not something unqie but completion of this idea is very difficult. like there is wholesale market in our area like 20 km far away from my house. all we have to do is to go at morning like between 5 to 8 other wise things sold out. and we do not go there. hmmm that's some next level laziness i know but your ideas has opened my eyes i must admit it.
That's something i should say you should not care about money. yeah saving is good but buying 1 pair of clothes at occasional events should not be a big deal. well i can assume how difficult it must be. because i have faced same problems. bro
You are living the best life man, i pray for you keep it up the hard work, i know following all the rules and limitations on life might be headache at start but once you get to feel and enjoy the freedom of not depending on others. you will appreciate your efforts and you must have become a independent man. I also appreciate your family's efforts because sometime its the family that does not understand the limitations and restrictions but these strategies are really awesome. i have just one question how did you managed to convince your family to follow the rules?

Man you would be surprised about the conditions of schools in some countries. That is nothing else but devastating even in highly developed countries. But of course that doesn't apply necessarily nationwide then, but there are areas in highly developed countries where you would be shocked about the condition of schools. In essence you point the problem out. You can't really blame poor countries for lacking modern schools, but if richer countries also screw it up, that's just saddening. It is unacceptable towards the youngest generations who are dependent on the decisions the adults make. It is beyond me how saving money by cutting spending on proper educational infrastructure can make sense for any government.

Home schooling is rough. The stimulus is one issue, but you also need very well educated personnel and even if the idea is that the parents could do it, I guess that doesn't work out properly for the vast majority of the cases. Methodical and consistent education isn't simple and it only gets harder the older the children become unless the parents have access to a lot of resources and are very well educated themselves, but still implementing full-fledged long-term homeschooling into your life as parents is quite a big deal.

I liked Low spending on celebrations and growing crops at home. The most economical ways to grow your balance as well as save some on junk foods really. These days peeps tend to spend big chunks of money on celebrations. They would care more on decorations and what others will think about it rather than being simple about it and spending more on let’s say donations on those holy days, feeding the hungry kinds stuff. Anyways, even if they don’t do it then they can save amazing amount of money.

Growing crops at home is another trend that is viral. Peeps who love gardening should take up this seriously and learn to do “hydroponic farming”. The cheapest  and less space consuming type of farming. One can smoothly do it and also save up there. Great article to learn basics of savings.

Reflecting back in my college days and yeah, homeschooling is even waaaay better. Though for me, it was like a self-taught way of learning since nobody was able to teach me anyway. I learned more than what I need in my own field of software development. Resources are free in the internet anyway and I would be able to learn how other countries especially the US do software development in their region. I just wish I was able to spend more time learning at home though there's no point of regretting it anymore.

I can relate in low-key celebrations. It does not have to be so fancy. It might carve a great memory, but that memory would even build you a bad habit of overspending in the special seasons just to make it that you indeed celebrated better that occasion.

I do live on a city but if i do have the opportunity on having or purchasing some agricultural lands then i would definitely be doing that on which i would really be mainly be trying out to grow some rice crops

even though it would be still needing to have some expense but eventually you could really that able to sustain up yourself since you could really be able to bag out and save it out.
but since the place on where i do live is already that having no space nor having no for sale lands then its impossible for it to be happening.

Economic conditions could really put us up on a hard situation on which survival is something that we should really be minding of.

For now our homeschool is for just primary or basic education. When our children gets to the certificate class we will register them for the exams in a private or government school. It is legal for homeschooled children to sit for external or standardized exams in any registered school in the country.

Your culture is different from ours in Africa. Immediately you get to the age of 25 as a lady, your parents would start mounting pressure on you to get married. Infact unmarried women suffer a lot of discrimination and mockery. As a matured man, once you get a job, the society expects you to get married. People even take loans to get married and start a family.

Many marriages have dissolved because of childlessness A lot of divorce cases in Nigeria is because of inability to conceive and bear children. Nigeria has one of the fastest growing market of In vitro fertilisation (IVF), surrogate mothers and other child bearing techniques because of the importance placed on children. If you decide not to get married or have children, you might be treated like an outcast.

It all depends on the location but we can actually invest in agricultural land so we can have it as a source of passive income and food at the same time. Growing crops was just my hobby when the pandemic happened but since I'm now reaping what I have sowed I realized its importance during this market situation. I am now able to save more because I won't be needing crops and some vegetables which is getting more expensive in markets nowadays. Gardening is fun and it could also be our source of income.

You forget to add/ or have you considered doing side jobs for extra income.  Investment is a good thing but it will take some time to yield profit, a regular one takes years so what would we do to meet our daily needs if our main job is enough for bills and basic needs.  Finding a side job plays an important role to meet our plans and ease out the situation especially if we plan to have savings for investment.

I would agree with a lot of stuff here, especially growing your own food. I've been learning how to plant veggies and how to take care of them sustainably for a while now and it's been one of the best things I have done to myself both mentally and physically. Less pesticides mean less poison my body deals with, plus it's so therapeutic too, at least for me. It gets a little expensive, especially when you're just starting and you don't know jack about planting crops but as soon as you find your groove and you grow a green thumb, it gets cheaper and more sustainable.

I think having a children is definitely one of the reasons why it is economically difficult to survive considering children cost a lot of money. But at the same time do not imagine that people or even couples live a frugal life when they do not have children.

As I lived, I learned that, people spend as much as they make until a point, of course if you are Elon Musk maybe not so much, but if you are a regular person, 500 bucks a month and 5k a month doesn't really make that much change, and that means if you do not spend your money on your children, then you will end up spending that money on something else, so it is not really a way to save money to not have a kid.

We could add this but it wont work on us all meaning other people tend have hard time finding side jobs even if they want too like they don't posses those skills need or just they cant find one as most of those employers wants fulltime. Also even though you have side jobs but still not enough then you need to follow those strategy by OP provided to save some money and that is the possibility that youll invest into something.

Similar strategy with mine,but I don't give my kids homeschooling.I send them to school but a missionary school which is cheaper than a private school and have adequate learning facilities,so that they can compete with their classmates to bring out the best in them.

Another thing I did was to set up a business for my wife that she sells in front of the house because the house is located in a commercial environment so that she can make daily profit since she don't need to pay for shop rent which use to be challenge for traders down here in my country.

Firstly, OP, I want to thank you for such a detailed description of your life. I very often read posts from Nigerian society; for me, this is a revelation of how different people's lives can be in different countries. But I have a very respectful attitude towards all of you, because your country may not have all the charms that other, more developed countries have, but I see a great desire among people to improve the lives of their families. The attitude towards marriage is very surprising and worthy of an example for other countries.
I think you, OP, are very wise. I don't know your age, but everything you have planned looks very reasonable and mature. I say this because I have a comparison where it would seem that adults do not want to think about anything but entertainment; they have neither goals nor the desire to create a future for their children.
Your strategy and awareness will work for many people. In fact, it's hard to call it survival; I think you live a full, real life, and your children will receive many more good examples than even children who can study in private schools, but they have very few parents in their lives.
My respect.

Agree, and this is what I've been running for the past few years. Poor economic conditions and government management encourage people to be more creative and look for sources of income outside the country. Especially working online with the skills you have. This is indeed quite worrying because the potential or skills possessed cannot be considered by the government, they don't seem to care. Many in my place such as application developers, designers, and digital-based skills are valued more abroad than at home.

I know it is some kind of utopia but I feel that the world should become much more solidaric than it already is. It is to a certain degree, but it could be even more. It is not only harsh conditions like OP described, and that is already harsh enough because nobody should be doomed to carry unnecessary burdens, but we also have situations of war or earthquakes in Turkey, sudden events that need instant help without any hesitation whatsoever and still there is bureaucracy stopping help from getting where it should have been yesterday in a best case scenario.

Nigeria is quite low in the list of income per capita. As OP described there are logistical inefficiencies like countless middlemen driving prices up etc. Why don't the wealthy nations set up programs that provide money and expertise to exactly improve the problems that keep those countries from prospering? I guess now the answer is that there is too much corruption involved and money from other countries like grants or loans seep away in corruption. But what is the conclusion? That our species is just too evil to be good? There are too many situations that prove otherwise, but still there are so many shortcomings and so much poverty in the world.

@OP in your case it's quite obvious that you are a smart mind, well-educated and ambitious to take things into your own hands together with your wife (what I said to you applies to her as well). But there are so many people in your country that can't dig themselves out of their hole like you.

I hope the best for you and I think your ability to sharply analyze your situation and adapt accordingly, especially investing time and effort into your children which I find particularly commendable in times of pressing scarcity, will pay off one day.   

Let me finish with some pseudo-egoistic wish for you - I hope that your crypto holdings go to the moon soon, so my do, too! ;)

With all the due respect to your culture, that sounds rough. I would have not guessed unmarried people there got treated badly for such a personal decision.
Is there any expectation by Nigerian society on the number of children each couple is supposed to have or it is something the couple is not pressured about?

Do people there get mocked or treated as outcast if they decide to only have one child instead of two or three?

A little bit off-topic, but what are your personal thoughts on countries like Japan where population is steadily declining, to the point that their government has evaluated to pay couples to have children?

The simplest strategy is to save more money and invest. You don't have to starve yourself, but manage your spending on something you really need. No need to buy goods in bulk, it only makes inflation worse. Nothing too celebratory, just keep it as simple as possible. But think about the investment, it will give you a return that may be good in the long term.

I agree with some of the strategies at the OP, but about home schooling - it's just very different from person to person.

OP listed many factors to consider to live a debt free life, we must know our priorities to be able to manage and determine what is better in our lifestyle or living capacity. It’s good that OP knows how to invest and what areas he should be focus in like having home or cheaper rent as well having investments. Having multiple jobs can help too if there is time like online jobs that will not affect too much of his schedule and use the salary to make more investments for their future. During pandemic I really see the need of not having sidelines than focusing only in one job.

How could it not work when the purpose of looking for a side-job or other called it side-line is to increae the financial capability of a person?  I know others are having a hard time finding jobs or task that can give them extra money,  but still, it will be a great help if one can find one.


See in the scenario you are saying, it does not suffice even though a person has a side job, what more if he doesn't have it?  I don't think the importance of having an extra job or business as a source of extra money is debatable. In a situation where a family is lacking, it is one of the most important things aside from the strategies cited by @OP.  After all, the reason why @OP is doing those strategies is because of a shortage of finances, and having one or more sources of income will make the situation easier.  As I stated, investment is good but it takes time to profit, worst, when a person's budget is short, they might pull out the investment immaturely so having another source of funds to spend for the family is always better.

Some very good points shared!
But do you think homeschooling would be effective? That is correct it drains so much money and energy of parents and I really liked the idea of home school.

Personally, everyone has different circumstances and situation which they have to deal with. People like us who are on the lower spectrum of wages on the economy but has ambitions and want to change their situations needed to think for more conventional ways to earn extra income. We could always hear or see people telling us everyday that investment will be the foundation to have a better life, but as I've said people like us firstly needed to find ways to have an extra income before doing such moves.

The economy of this country presently is so devastating. The cost of good and services is at its peak. An average man barely feed three times daily. The salary is the same but the cost of living is getting high on a daily basics. The strategy i used in surviving is not spending unnecessarily. For example, i use to hangout with friend a lot and spend money on things that are not important, i use to club a lot before as a bachelor but due to the economy i only go to club once in a month. As a bachelor, i eat at an espensive restaurant almost everyday. But due to the economy i now realised that cooking the food myself will reduce cost and i will also have morr to eat later on. The economy has really tought me how to to manage life.

For the homeschooling aspect I was trying to decipher how both you and your wife manages the little time between other family needs as people with children and the home teaching at same time with your work time, isn't that going to be tiresome?  Homeschooling in hard times isn't a bad idea but one disadvantage I discover that could be on the side of the children is that they would lack or be denied the opportunity to be exposed socially with children like them from other backgrounds and this situation can affect their social interactions in a way when they go outside.

Everyone, whether he has a family or lives alone or with his extended family, will try to make massive savings in anticipation of drastic economic changes. They don't want their lives ruined because they can't manage their income and will change whatever is needed. @OP provides a good example for us but we will have different ways from @OP but we have the same goal in this case, namely wanting to survive in difficult circumstances that can come at any time. I really agree not to make loans to other people, especially if we can't return it according to the time we agreed or we don't have other sources of income. That will make it even more difficult for us and instead of wanting to make savings, we will be chased by these debt collectors.

Birth reduction strategies are economic tools to reduce population in order to bring down governmnet spendings and to achieve some some economic prosperity. But this strategy has a long term consequence which are affecting countries like China and Japan negatively. These countries' productive population is gradually declining and the government is faced with the challenges of inceeasing the population they reduced. The problem now is that most youths of these nations are no longer interested in having children because the birth control policy has influenced them. The government is not trying to persuade or influence them to have children because of the shortage of labour force. The truth is that they have to rely on immigrants for a long time until these birth increase policies becomes fruitful.

Overpopulation indeed is one of the problems of Africa but the continent has enough resources to feed even double of its present population. If the youthful population of Africa is empowered through education, skill, training and development they will become productive and contribute meaningfully to the development of the continent. But our major problem is bad leadership. A group of individuals mainly politicians are conniving to steal the commonwealth of African nations, thereby leaving Africans to die in poverty and sickness.

While growing up I will used to see a lot of parents hand down clothes from their eldest child to the younger ones, sometimes they even have to amend the clothes just so it will fit the younger ones. This was one of the methods of survival during the harsh economic realities of that time. I never understood this until I became older. In this time my survival strategies include:

- getting used items instead of new ones.

- taking walks to short distances instead of ordering a ride. I am considering buying a bicycle.

- I work out at home instead of spending money on monthly gym subscription.

- I bought a solar panel and batteries for electricity instead of using petrol powered generator whenever there is power cut.

- I have resorted to making my own body lotion instead of buying expensive lotions at the supermarket/malls.

I can go on and on but I'd stop here now. I hope I have been able to share some valuable insights.

There are only two ways to successfully survive in an economic crisis - increase income or reduce costs. 

At the same time, increasing income by changing jobs is largely a dead end.  During the economic crisis, the employer is concerned about reducing costs and increasing the efficiency of the organization's employees.  Thus, you will inevitably run into a situation where you have to work harder than usual and get very tired.  At the same time, the employer will make efforts to reduce your wages, avoid having to pay you quarterly and annual bonuses, etc. 

Intensive work can adversely affect your health and require additional funds for treatment and rehabilitation.

This is what the people didn't realize. This is why they kept on looking for another strategy but the op's post is very informative and might help those people who struggle about the same problem. Other people are complaining and sometimes blame others, the governments.

This is very wrong and it does not help a lot and what if other people are also poor or helpless? And what if the government itself is selfish or corrupt? If that was the case then a personal approach is the only thing that we will need. We then need to team it with determination and commitment (like you said) so that we can successfully overcome the issue. All countries/places are not exempted with it, it's just that others are badly affected.

It is an interesting topic, actually, it is something I have researched a bit on the internet.
How some governments even to this day try to control the demography of their country, my favorite modern example is India with their Population control bill they approved back in 2019. They go as far as allowing couple to have up to two children, so they can apply for state sponsored benefits, like loans.


Source: https://en.wikipedia.org/wiki/Population_Control_Bill,_2019

About what you say on Africa, I generally agree that you live in a continent which is very rich in natural resources but unfortunately has suffered some sort of bad luck with generations after generations of tyrants and corrupt politicians, there is a similar thing which happens here in the Americas.

Great advice especially on the bulk buying aspect, many people may consider it unnecessary and even wasteful but buying in bulk actually do help in bad economy season.

I remember when I stalked up some bags of rice in my country at a very good price although I wasn’t anticipating any fall in my nations economy it actually did happen and not only did the stalked up rice see me through that situation I actually earn double the amount I bought one by selling off some.

This is what I like a very practical thinking yet cost efficient to handle the raging prices and inflation. People should be doing this during the pandemic although covid isn't done yet but with all of these strategy to survive, it's better than to be buried in debt. Practicality at its best thinking any cheap alternative to cut-off some other or over expenses especially in this era where inflation beginning to hurt our pocket/wallet yet the salary isn't raising yet despite of all the price hike in almost everything.

A good strategy because you can get a quality school at a low cost, the most important lesson when we buy a house is that it can be used for business, if the house is in a commercial area of course it's easier to start a business, I also plan to sell a house and buy land in a different area crowded and strategic so I can rent it and get passive income.

This would be a problem for those who live in the city and have no extra space, but I've seen new technology right now about vertical farming and hydroponics, which is really good for those who have no soil or extra space, though it would still be beneficial if you have backyards as you can easily plant. Most of this was done in province, not just to save money but also to be healthy since you'd be cooking it yourself rather than buying it outside. Even just planting it in a single pot can save you money over buying it.

By utilizing narrow land we can still do gardening as well and the gardening techniques are verticulture, tambolampot, hydroponics using mineral water bottles, styrofoam and also using large pipes where body parts are cut and filled with fertile soil and fertilizer for growing vegetables and others for cooking.
and I've been doing this since Covid-19 and I'm still doing it until now, and this is very useful and also economical in financial matters. Because I only cut some vegetable and chili plants for cooking, and these plants don't need a large area because they only need to be hung on walls or on fences and other parts of the house that can be exposed to sunlight.
and planting yourself is more controlled for health problems because we will plant and care for it properly and healthily, and also always controlled because it is around the house.

sending children to school anywhere is not a problem as long as we as parents continue to pay attention to our children when they are at home. such as asking what has been learned and what difficulties are encountered in the lesson. help him study at home and so on.

I think I got a little idea from your story that you have made a business for your wife. Maybe I will try something similar about this for my brother who also has a place to live in an area that seems to have good potential to start a business without needing to rent a shop.

I may be wrong, but it seems to me that growing agricultural products in the city is not a very profitable activity.....

You may be able to grow more useful and environmentally friendly agricultural products, but it is very difficult to compete in agriculture with a well-organized agricultural agro-industrial holding. 

Any industrial production allows you to produce products cheaper than an individual manufacturer. 

Therefore, even taking into account the retail store margin, it may be more profitable to buy food products in the store.  There are also special shops selling healthy and environmentally friendly agricultural products.  They have one drawback - the food sold there is more expensive than the food sold in regular chain stores. 

In my opinion, it is expedient for a city dweller to focus all his efforts on training new promising professions in the field of IT technologies. 

This will increase your income and more successfully survive the global economic crisis.

I want to deeply appreciate your kind words of encouragement @lovesmayfamilis. I have faced a lot of criticism from friends and family that think that my strategies are weird. They want me to take loans or buy things on credit so that I can be "comfortable". But I have learned to ignore their side talks and mockeries because I know where my shoes are pinching me. Most of these people are not willing to offer any financial assistance and when you default on loan repayments, they are the ones that will laugh you to scorn. I have decided to focus on my family and live within my income. I desire that all the hard work and sacrifice me and my wife is putting in will not be in vain. Thank you again for your support.

In my opinion, credits and loans are very dangerous. 

A person raises his level of income in the present, but lowers it in the future.  This is not very scary if the world economy is on the rise and its condition is improving over time. 

However, this is currently not the case.... Each subsequent generation lives worse than their parents. 

Loans and credits can be taken on real estate (and only if there is absolute certainty that the property will increase in value).

OP's strategies are not only suitable for difficult economic circumstances but also can apply to everyone's life in general. It's about a manageable lifestyle. I'd also appreciate OP's courage to do so except the homeschooling thing. You see, from the perspective of saving money, homeschooling is an option, a very reasonable option actually. However, the purpose of education is not to survive but improve ourselves, physically and spiritually. Children are meant to play with children and the companionship between peers is something we,as parents, can never teach. I understand your situation and am not saying this is wrong. If your economic condition improves in the near future, it is still better to send your children to school. Learning how to adapt to society is one of the most important lessons for kids.

Homeschooling seems to be the only part that is a bad decision. There is a reason why schools exists and it is not just to teach kids and educate them, it is also there for socializing, kids who grow up with at least 20+R other kids would grow up to be a bit more normal socially, sure there are some weird grown ups who grew up with other kids, being bullied and so forth could have dire impacts in adulthood, but that is not for every kid, that's a small portion, whereas most people turn out to be regular normal people.

Hence, I can't support that, send to a public school if you want to but send you kids somewhere without a doubt, there is no way they should be homeschooled.

Thank you very much for your formation what we are facing now in economics crisis an inflation is getting out of hand in the global world,how to survive the economic situation is now a global problems some are having mental depression on how to survive there living
to survive our daily living is now a big problems couple with the current situation of currency scarcity, in my country where POS operators will share ur little money with u 5000 to 2000 u as the owner ur money is 3000 when you  have a proper management with ur family is all about good family planing just as the OP said reducing our cost of living is very very important, then knowing where to buy food items in affordable price and store them very well too is important,involving in one or two types of business in other to generate our daily income rate is a very important one too investing in bitcoin an real estate is a very important one too, but talking about homeschooling is not advisable because at home they are not meeting with their school mate's where they have more interactions with other children's out their in the school.

Lots of problem we are facing these days. People are cutting most of the purchases.
many economist concluded that in coming time things will be more difficult. So we have to brace ourselves for the harsh time.

but not everyone wants to do that or have the time to do it, because maybe for some reason it is difficult for some people, maybe there are other options.

Homeschooling is a very good idea - but it's difficult at the same time. A person like me would not be consistent to do it for a longer period of time.
But having said that I have seen a lot of mother who are doing this to better educate their kids and save some buck as well. This is very much in demand as well.

Homeschooling is indeed more effective and economical, the thing that makes it difficult for us to implement homeschooling is that children get bored easily and won't concentrate when studying, they will see toys or a place to play at home making it very difficult, I've tried homeschooling but it wasn't satisfactory and I had to find a school that according to the child.

Home schooling of children can be considered as a means of saving the family budget.  

However, homeschooling has significant drawbacks.  At present, the main value for people is not knowledge (search engines and neural networks are always ready to provide people with any information upon request), but social communication skills.  To acquire these skills, the child must communicate with peers.  

Learning together with other children, the child learns to obey and command, to be at enmity and to be friends.  It is at school that a child can acquire leadership skills and learn to work in collaboration with other people.  

These skills are of great value and cannot be acquired through home schooling.

The only problem - people are not preferring homeschooling is because most of the people think their kids won't be able to socialize and won't be able to move along with the society. which is also right - there are advantages and disadvantages of home schooling however I would say advantages are more than disadvantages

That is a good thing - my parents used to hand down clothes - books and many other things to the younger sibling
we used to get the old stuff from the richer family members and it kept going until we started earning on our own and then we never looked back
bad times does not remain the same neither does good time

During my parents time that was like this too. My father was the biggest son so he usually got the brand new stuff, but his clothes ended up used by his brothers as well, same with school stuff as well, all the books and notepads and pencils and all that was shared basically whenever one needed it.

But they grew up, and the Chinese factory boom happened basically during my youth, and I was his only son, so I kept getting all kinds of great life thanks to him being great father and helped me get a great life later as well, if I am living a great life today even without his help, that is all thanks to him knowing the value of money back when he was a kid.

Hi Dera sir Some tips for a successful vegetable garden and cassava farm include planning carefully, starting small, using compost, watering wisely, managing pests and diseases, harvesting regularly, and storing crops properly.

When you are raised on a situation where it isnt really that appealing or something that you could really say that it is hard, then you would likely be able to grow which does appreciate things around you and on things which you do acquire through hard work.This is the main difference comparing into those people who are provided on everything.Im not saying that its a must but we could really actually see the difference.
When it comes to harsh economic conditions then we do know that those who do live on middle-poor class are the ones who do mainly been affected and struggle that much,
this is why if you are a father of a certain household then of course it would really be normal that you would be finding methods and ways to sustain.

This time is a very difficult time in some region while other may be trying to be doing well. The economy is harsh and we don't know how long things is going to get better. There are some persons that lost there jobs during the covid-19 period and till now they have not gotten any reasonable jobs.

Low-key celebration:
Cheap but quality products:

If you do really go for something realistic and would be able to avoid some financial problems then you should really stick into this two on which it would really be that helpful
for you to save up even more and not would really be having bad situations on the time you would be needing some financial back ups specially on bad economic conditions on which
it would really be that much crucial if you do have the savings.

It seems that this point is an important thing that must be recorded and applied in surviving the current economic situation. even this point will also be effective when economic conditions have improved. I love it. But to get cheap but quality products certainly requires more effort. because most of what we encounter on the market are cheap products of course with standard quality and not very good for the long term.

we got to experience some very fine strategies in this forum.
The most vaild point is that war between Russian and Ukraine has done a serious damage to the world

You are someone to emulate. You have done a really good job. You are both responsible and forward-looking. Apparently, you aren't only good at financial management, something that many of us here in my country sorely lacks, you are also practical and wise.

But if I may conjecture, you also don't have a vice, right? Correct me if I'm wrong, but the impression is that you don't spend on useless things. Smoking, drinking, gambling, and other vices are some of the main reasons why many families here cannot arrive at a sufficient budget. A good slice of their income simply goes to waste because of these vices.

Economic conditions that are increasingly difficult to make us have to always think creatively, I also feel a difficult economic impact since Pandemi, I use things that are for example I plant vegetables and raising fresh fish that I can give food from leaves, and this is enough to help reduce posts Daily expenditure, as long as we want to think and act seriously, we can solve everything.

Yes, apart from the impact of the pandemic, the war between Russia and Ukraine also greatly impacted the economies of several countries in Europe, the increasingly expensive prices of basic necessities causing spending to swell and not matching salary income.

You are right in a situation like this we have to try to be as creative as possible to reduce expenses.
You have provided one of the right solutions by becoming a farmer, besides being able to increase your income you can also consume your own crops and at least this can help your family's economy a little.

This is so true - I AGREE WITH YOU!
The increased patrol price has made a very bad impact on an average person in my country people are in so much trouble due to the inflation and limited resources

that is so true!
Many people are raised in a middle class situation they struggle to earn money - these people are constant struggler and late in life they reach to a successful point and their their coming generation enjoy those luxuries and strat the circle all over again

One has to keep oneself ready for every situation after earthquake in Turkey my many well off friends has lost everything in a jiffy
You think you are safe in house and then you run out sometime you run back home like in COVID - life is so unpredictable

And this is inseparable from Russia's strength which is bigger than Ukraine so that it can cause a lot of destruction in several important sectors in the economic sphere. But I can't give a more in-depth conclusion on this matter because I don't really feel the bitterness and hardship in my life when they are fighting, even though I also don't consider the war that was caused as a normal thing. We hope that this year the world condition will improve soon and there will be no continuous war.

Unexpected situations could happen anytime so we must be creative and wise in finding ways to survive during times of disasters and difficulties. It's either we save or find alternative ways to earn. I agree that planting crops would be helpful as well as putting up a small business so we will have a source of income in case uncertain situations might happen especially if we have no one to rely on.

Being a farmer can indeed be a way to survive in this harsh situation, yes, even though we can't sell or make money, at least it can reduce our spending on basic commodities. I am grateful that I live in an environment that still relies on natural products for my necessities of life. If it's just for daily food, I don't have to pay very high costs, because I still have stocks of agricultural products.
It would be very different, of course, if living in big cities, because usually they have to buy it every day even if it's just to eat. This is something that no one else can feel, I am grateful for this.