My survival strategies in this harsh economic conditions

[Die_empty]

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?

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 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.
 

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.

[xSkylarx]

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.

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

[AnonBitCoiner]

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.

[AicecreaME]

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.

[maydna]

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.

[The Sceptical Chymist]

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)

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.

[Hispo]

-snip-

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.

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?

[Uruhara]

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.

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.

[Aanuoluwatofunmi]

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.

[Faisal2202]

Homeschooling: We bought all the facilities and textbooks and got government approval to start a home school.

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?

Bulk Buying:

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.

Seasonal Food:

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.

Low-key celebration:

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

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.

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?

[temple]

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.

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.

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.

[so98nn]

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.

[isaac_clarke22]

~

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.

[carlfebz2]

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.

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.

[Die_empty]

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.

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.

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?

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.

[virasisog]

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.

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.

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.

[lionheart78]

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.

[panganib999]

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.

[el kaka22]

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.

[xSkylarx]

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.

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.