what are the best ways to save cost?

[SmartGold01]

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.

[freedomgo]

I think it’s better if you start planting or raising some of your own food. Like if you can grow vegetables in your backyard, that already helps a lot. Or you can raise chickens, or even fish by making a small pond. Those things already cut down your grocery costs.

When you’re not fully reliant on just buying from the grocery, that’s where you’ll really start saving. Begin with the basics first since that’s where most of your budget goes. Eventually, once you see it working, you can try saving on other needs - or even on wants.

[Wiwo]

While we expect the government to do something better to improve the economy and combat high inflation, we as individual also have role to play in the economic building of the society, as the freedomgo said already growing your own food make alot of sense at least you caught down expenses and get good un chemicalled foods, i have a small poultry farm at my back yard that i grow chickens and produce my eggs, i have two kids, me and my spouse, in the last two year we produce the eggs we consume.

Secondly government regulations is one of the shortfall of the economy, like in Nigeria we dont have what we call, price control agency, this is the reasons business people inflat the price of goods in the markets without regards to principle of value for the money.

[Spaceman1000$]

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.

You cannot reduce the cost of goods in the market because the forces of demand and supply is not in your control, however inflation will always creep in, what you have to do is to cut down your expenses and go for things that are most essential. One major way to beat inflation is to double your hustle and have extra sources of income, that way you could easily have an better purchasing power because your earnings are multiple. The government can also do well to help checkmate prices for people that are arbitrarily hiking the prices of goods in the market.

[Emjay24]

While you think about ways to cut down expenses, I think you should be giving concentration to ways to increase your income since the expenses keeps coming, I have decided to have a small business besides the one I am doing currently to boost my income. I grow some of the regular things we consume like vegetables, plantain and cassava myself but the economy is still hitting hard and it becomes very important to have a form of additional or passive income source.

I feel if I can expand on these things I grow and have more quantities of it while expanding to possibly poultry and fishery, I can make money from there to buy things that I don't produce so in that aspect my feeding takes care of itself automatically without being catered for from my earnings and still provide some passive income for me, then that should be a good way of not only saving cost, but boosting my income.

[Die_empty]

While we expect the government to do something better to improve the economy and combat high inflation, we as individual also have role to play in the economic building of the society, as the freedomgo said already growing your own food make alot of sense at least you caught down expenses and get good un chemicalled foods, i have a small poultry farm at my back yard that i grow chickens and produce my eggs, i have two kids, me and my spouse, in the last two year we produce the eggs we consume.

Secondly government regulations is one of the shortfall of the economy, like in Nigeria we dont have what we call, price control agency, this is the reasons business people inflat the price of goods in the markets without regards to principle of value for the money.

I like the idea of growing your food, but we are limited to some crops if you want to grow them in your residence.  Vegetables are one of the simplest plants to grow around the home, and they can help cut some expenses.  Having a few animals around the house is not a bad idea.

Buying cheaper alternatives is another good idea. My children used to like foreign made foods which are expensive.  We have to seek home-made alternatives that are cheaper to enable us to save some money.

Seeking other sources of income would be another alternative. Acquiring another skill to secure a part-time job might help put extra funds in our pockets. Some of my friends have also started small businesses to augment their salaries.

[Promocodeudo]

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.

This will now depend on your income and things it can afford for you, another thing is we must survive we can not kill ourself we have to adapt to the system so that we won't get broken, how do we adapt, we will adapt by minimizing the usage of what we buy, this is time to go for the main necessities, this is not time to buy as we do but before, we make sure we go for those things that are mainly needed in the house not things we don't actually need for the main time, we can also look for ways to generate more income for ourselves, since we have seen that there's nothing we can do that to cut cost, we can do more jobs if they're available so that we use them too, I don't want to go further than this, things are really difficult this time.

[bitzizzix]

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.

We can't avoid it because everyone has experienced it, and what we have to do is avoid or even eliminate bad habits such as eating out, and occasionally it's okay if you want, but at the right time and cook at home more often, avoid buying unnecessary items or repairing old items if they can still be used or repaired, and so on that you think can cost more money and you should be minimalist. In addition, looking for additional income is the best solution to overcome all of this, making a strict and consistent budget, and investing wisely in the right investments that can help you and are resistant to inflation is a smart way.

[SmartGold01]

I think it’s better if you start planting or raising some of your own food. Like if you can grow vegetables in your backyard, that already helps a lot. Or you can raise chickens, or even fish by making a small pond. Those things already cut down your grocery costs.

When you’re not fully reliant on just buying from the grocery, that’s where you’ll really start saving. Begin with the basics first since that’s where most of your budget goes. Eventually, once you see it working, you can try saving on other needs - or even on wants.

I have mini farm in my compound where I have plantain, cassava, vegetable, including papaw, sugar cane and pepper planted over there, but most times it's not up to maturity where you can easily have them harvested for consumption.

When is not up to usage I do have them at the market just to cover up till those in the compound gets to maturity, but generally even as that things are usually expensive like I can't just comprehend why it's like that and even when asked they would say it's dollar/NGN rate.

To my greatest surprise, dollar/NGN only affects imported goods and not local harvested goods instead they uses the advantage of dollar/NGN rates to sell even locally harvested goods to be expensive as imported ones.

[Solosanz]

I don't want to be mean, but you should already know the answer without ask this question especially you're familiar with cryptocurrencies.

There's a stable coin pegged with USD or EURO, if you convert that once you received your salary, you can hedge against inflation. This the only way to answer your question.

The other like reducing your spending, increase your income and looking to get side job etc, I believe @OP already tried his best, so it's not something that need to be suggested. Someone who hungry will think to eat, in order to get food either work for food, work for money, begging, steal someone else food, or find some in trashcan. We can automatically think about the solution.

[TravelMug]

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.

For me it's the obvious, electric consumption or water are the two that we really need to reduce. At least in our country, it's very expensive here that's why every summer, our bills really piled up or it's not on the average. Sometimes we just have to go to the mall when there is free aircon instead of staying at home as you might turn it on because you can't really take summertime here.

So turn it off when no one is using, same with water, if we can re-cycle it the better. Or maybe cut on that beverage like drinking coke or any soda and just go with water as it is healthy. But it's hard to live a frugal life to be honest and it will take a lot of sacrifice.

[AVE5]

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.

Okay let me put it this way; the governments has tried it best to strength the growth of the economy especially the establishment that'd suit the era's as infrastructures maybe evolved. On that course, there were too focus to compete with one another of whose economy by nations will be more admired from the international insights but reverse be the case that as the facilitations to new developments emerges on the regular bases is how the conventional monetary system is being affected and the fiats are loosing values due to geopolitical and economy sentiments over desires of gaining global influences.
So bear it in mind that this "savage economy" is experienced also by the Western Countries as their governments also makes the welfare of their citizens a prior by setting amenities to cushion the situation while the effectscis obvious to countries who're still fighting undevelopment like some countries and the rest because they leverages more on foreign produces on exportations than importations.

In that case if you ask me, I'll say to curb the situation is to have designated sources (alternative) of income that's not just to earn more monies but investing or storing our funds on resources and assets like bitcoin, tech and real estate which has valuable backup that also increases over the time as economy may also increase in the long term.

[Kelward]

In an economy where the cost of goods and services are skyrocketing where the prices of goods that you buy today will increase in a week's time you need to apply wisdom. If you can afford to buy goods in large quantities it will be very helpful, by the time prices increase it won't affect you negatively. Except it's perishable foods that you cannot preserve you can store anything in large quantities and escape inflation.

Another alternative as a person that is into cryptocurrency is you can convert your traditional currency into a stablecoin that is pegged to a strong currency like USD. For money that you need to save for a very long term you can convert it to Bitcoin and hodl for profit.

[ndutndut]

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.

The best way to save money naturally starts with having or finding the right economic strategy for your income. It's important to learn this strategy so you can consistently implement it. One way is to manage family finances, manage expenses, and create an effective household budget. Even in times of high inflation, having a strategy will make it easier for you to survive financially and remain stable and prosperous. Learn ways to save money increase your income and take wise steps to manage your daily needs.

For example if you live in a house with a large yard, you might prefer home-cooked meals even if you can afford ready to eat meals. But by implementing this, you're indirectly saving money. Cooking at home isn't just tastier it's also about choosing quality ingredients and ensuring the food is hygienic. Furthermore it's more economical with seasonings tailored to your own tastes and you can easily consume more than you would if you bought instant meals.

[Don Pedro Dinero]

While you think about ways to cut down expenses, I think you should be giving concentration to ways to increase your income since the expenses keeps coming, I have decided to have a small business besides the one I am doing currently to boost my income. I grow some of the regular things we consume like vegetables, plantain and cassava myself but the economy is still hitting hard and it becomes very important to have a form of additional or passive income source.

That's what I was thinking. If you live in countries with very high inflation, saving money won't do you much good. In other words, it is better to try to increase income, beat inflation in other ways and be self-sufficient if you can. The closest case of inflation I know of is Argentina, where as soon as people got their hands on a peso, they rushed to spend it because they knew that tomorrow, or perhaps in a matter of hours, that same peso would only buy them half as much. Those who could saved in dollars or bought assets to beat inflation. Others turned to self-sufficiency and bartering. But saving in your fiat currency with very high inflation is useless.

[Pi-network314159]

Well just like freedomgo have rightly said that you should start by raising some livestock at home and also planting of some crops in your environment to cut cost. Like me I have vegetable farm, I have pepper planted in my backyard and also cassava and other crops like okro and other food products. This has been of help to me and I am even planning to go into livestock farming which is on the process, atleast this will reduce cost of living. Why we complain much is because we fail to be productive but only depend on purchasing literally everything. But apart from this I think we can also buy goods ahead of time, like if you want to buy rice today and ist $50, if you have enough money you should buy like 4 bags which which should cost right around $200 sothat it will take longer time before buying another one again.

[shield132]

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.

There is no technique, the situation is terrible everywhere. If you don't have a lot of money, or aren't highly skilled with great connections, your life will be hell. I work a lot, have a very good income compared to the average income in my country and I still struggle and I'm always in constant anxiety because if I become ill or get fired, I'll be in a huge trouble because I have to pay a rent every month and I barely save $200 a month because I have some other expenses. Rent costs me $350, food costs me the same too. If I don't work for one month, I have to pay $700 for rent and food. I need 3.5 months to save $700. Now do the calculation and you'll understand in what a big trouble I am. I think about to move in another country because with my profession, I'll earn more and live 10 times better.

[GiftedMAN]

The high rate of inflation affected the entire world not just Africans the only reason why that of Africans is too visible is because most of the African countries are still underdeveloped and since they import most of the items they use in their country their currency has become of less value.

My few ways to survive during inflation and save cost.

1) have a budget for all your expenses.
2) spend on your urgent needs and not on everything you want.
3) for a family that has different cars you can decide to make use of one car to reduce the cost of fueling and maintenance.

[Ruttoshi]

What I do is to buy items or food stuffs that I use often in bulk to reduce cost and also going to the market often and start buying at higher price whenever you go to for shopping. Cutting down expenses and focus only on necessity is very important. I walk to places that are walkable to avoid unnecessary cost of transportation.

I have a small garden where I planted Okro, vegetables and pepper and that makes me to eat more of vegetable soup than any other soup in order to cut down the cost of cooking a pot of soup.

[Jewan420]

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.

I will give you an effective advice, that is, try to produce as much as possible. There is no better and more effective advice to reduce costs than this. Another advice is to always adapt to the situation and reduce or increase costs as needed. Try to adapt yourself to the recycling process and make every unnecessary thing useful. Remember that everything that comes your way is necessary, so discover the best strategy to use it. If you live your life using hard work and intelligence, you will be able to survive in any situation. If the above advice is applied in real life by most of the people in your region, it will not take much time for the economy of your region to turn around.