It's no longer news or new thing how inflation has ravaged the globe, especially that of Africans and things are getting more expensive every day by day. Usually, when things are getting tougher there should be ways of preventing, reducing or economizing things to suit the current economical situation. Most times things gets unusual high in the market, and what you would buy today in the market or at the supermarket will doubled and like, I will be how? Just what I got last few days has doubled? Again, money doesn't have any value what you think could sustain you for a week is no longer taking you to 4 days. So, I want to ask over here to know the ways or technique you uses at home to reduce and save cost.
If the government cannot reduce the costs of normal expenses such as housing, education, medical care, food, then there is no opportunity to reduce them. However, if the government can control these costs, then people can reduce their expenses by reducing their optional expenses or skipping optional items. If a country has a low income but high prices and high unemployment, there will be problems like this in that country and there is no option to reduce costs. However, you can try to reduce costs by reducing your unnecessary expenses.
Yes, that's right. Ultimately, this will all depend on government intervention in stabilizing prices, especially for basic necessities. It will be difficult to save if the government can't control the domestic economy. I mean, no matter how hard we try to save, it won't go according to plan if our expenses exceed our income.
However, if the government can stabilize prices, this will certainly make it easier for us to manage our finances, which will ultimately allow us to set aside money for emergency funds and investments. To manage our finances in an uncertain economy, we must be frugal by buying what we need, not what we want.