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50 Ways To Save In Nigeria - Business - Nairaland

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50 Ways To Save In Nigeria by stanodi: 7:52pm On Aug 31, 2015

I have decided to share 50 ways to save money in Nigeria today. These 50 tips are really easy to master. Most are common sense. However according to Rene Descartes “Common sense is the most fairly distributed thing in the world, for each one thinks he is so well-endowed with it that even those who are hardest to satisfy in all other matters are not in the habit of desiring more of it than they already have.”

Here are 50 ways to save in Nigeria

1. Make sure that you are getting all that you are entitled to from your employer. That amount you have just spent to get a professional certification may be refundable by your employer. Always ask
2. Learn how to save fuel by clearing the clutter from your car. According to the US Environmental Protection Agency, for every 100 pounds taken out of the vehicle, the fuel economy is increased by 1-2 percent.
3. Don’t buy newspapers as you can always find more current news online and the best part; they are free
4. Stop the caller tunes. Some people have up to 2 or more caller tunes.
5. Unplug your electronics. Unplug small appliances whenever you can. Computers, cell phone chargers, and other electronics often continue to use power — and radiate heat — even when turned off. To simplify, plug items into a power strip that you can use as a master switch.
6. Use MallforAfrica, especially with their one dollar shipping cost per item to Nigeria.
7. Buy fuel in the morning; you stand to save because service stations have their storage tanks buried below ground, and from integrated science; the colder the ground, the denser the gasoline and hence
8. Use LED bulbs and LED TVs
9. Make sure you have complete vehicle particulars and that they are up to date. You don’t want the police, VIO and other officials breathing down your neck. Typical particulars include Vehicle licence, Road Worthiness, Insurance Certificate, and Driver’s licence.
10. Cut down on the drinking, smoking and other vices. They not only save you money, they save you your health and may also save your relationship.
11. Use BBM and WhatApp calls more often
12. When hanging your clothes on the washing line, hang them inside out so the sun doesn’t fade your clothes. You also could hang them out in the evenings when there is less sun.
13. Use google maps when you are driving in routes you don’t know so that you can avoid driving in one-way
14. Consider entering into a “Contribution” with some friends you trust. This can help you save some money monthly.
15. However have plans for the bulk money when it comes in.
16. Google ‘promo code for items or services you are buying online. Did this once when I was signing up for Hostgator subscription for Lightednation and found a promo code that gave me up to 60% discount as against 24% I was initially offered.
17. Don’t give in to impulse buying – wait 24 hours and decode whether it’s something that you really need
18. You may get good deals for clothes and shoes from bend-down-select. But ultimately you may need to mix them up with new ones cloth items.
19. You can travel with a friend to split costs. It’s also more fun.
20. Wash your car yourself.
21. Make sure you have adequate insurance for your assets.
22. Want to buy a new phone; don’t! Swap your old one for it.
23. Sell things you don’t use any more on Olx or better still declutter by giving to an orphanage.
24. Buy a washing machine, cut the dry cleaning costs
25. Cook your meals, avoid fast foods
26. Chose the right call plan.
27. Have a budget
28. Look for a cheap apartment to rent, talk to several agents
29. Use your ATM only at your bank
30. Any side money you get not in your budget should be saved
31. Shop on online platforms, saves you the stress of driving and the makes selection easier
32. Buy foodstuffs and other household daily consumables in bulk
33. Write a list before any shopping and go with the exact money not a penny more
34. Buy quality not quantity
35. Don’t blow your money on caro caro/ baba ijebu
36. Clean or change out your car’s air filter periodically.
37. Go for GoTV instead of its premium brother
38. Book flights well in advance
39. Reduce stress at work, stress may make you spend more.
40. Leave that car sometimes at home and commute to work
41. Always ask people the price range of items before you hit the shops
42. Invest your savings; why? Because your money not invested is subjected to inflation
43. Avoid the temptation of acquiring a pet, and especially that of a dog.
44. Utilize coupons; Jumia and Konga and other all offer different categories of coupons
45. Put off the Generator.
46. Learn how to say no.
47. Don’t try to ‘keep up with the Joneses’. It’s not worth the stress and won’t make you happier in the long run
48. Track your expenses periodically. Keep a spreadsheet or download an App like mint on your phone to track your spending.
49. Drive outside peak hour where possible. Traffic interruptions account for up to 40% of our city fuel consumption.
50. Add your own tips and share!

http://lightednation.com/2015/08/50-ways-to-save-in-nigeria/

2 Likes

Re: 50 Ways To Save In Nigeria by Nobody: 9:26pm On Aug 31, 2015
thanks for the tip FTC just in case
Re: 50 Ways To Save In Nigeria by echeprecious: 3:22am On Sep 01, 2015
wud be back....... make I price dis land 4 Atbara side.
Re: 50 Ways To Save In Nigeria by phonesNgadgets: 5:04am On Sep 01, 2015
Wow! Simple acts, but they actually save money smiley

@OP, you forgot to add:

Buy authentic products from phonesNgadgets, and save up to 40% on your cost. cheesy

Plus #34 & #42: Invest your savings on original precious metals ( Gold,silver,diamond,pearl etc ) Golds are called 'Barometer of fear' cos they are insurance against inflation. I'm talking of authentic luxury timepieces and jewelry ooo.
Re: 50 Ways To Save In Nigeria by Roseey0(f): 5:29am On Sep 01, 2015
Good advice but not possible to keep all. The dog part is very important.
Re: 50 Ways To Save In Nigeria by stanodi: 7:45am On Sep 01, 2015
phonesNgadgets:
Wow! Simple acts, but they actually save money smiley

@OP, you forgot to add:

Buy authentic products from phonesNgadgets, and save up to 40% on your cost. cheesy

Plus #34 & #42: Invest your savings on original precious metals ( Gold,silver,diamond,pearl etc ) Golds are called 'Barometer of fear' cos they are insurance against inflation. I'm talking of authentic luxury timepieces and jewelry ooo.

Fantastic! Though I would actually invest in Mutual funds over gold. Here is why? Gold is often sought as a refuge during times of financial travail. But gold is largely a rank speculation, for its price is based solely on market expectations. Gold provides no internal rate of return. Unlike stocks and bonds which form part of the mutual fund portfolio, gold provides none of the intrinsic value that is created for stocks by earnings growth and dividend yields, and for bonds by interest payments.

Writing on investing in mutual funds at the moment, so watch www.lightednation.com.

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