How do I reduce my cost of living? One of the most asked questions by salary earners! Although different categories of people still need help on this, which is why this piece was brought to life. Reducing your cost of living and saving for the rainy day would really go a long way! You would know what this means if you have gone broke once. Fortunately there are many ways in which you can use to reduce your cost of living. How do I reduce my cost of living? The question still remains!

As an Individual, at some point in your life, there would be a need for you to reduce your cost of living if you don’t want to go bankrupt. You might want to start saving some of cash somewhere safe. People who find it difficult to save invest their money into something profitable, that’s simply how the rich get richer. We can relate this to companies who go bankrupt after few years of operation. They go bankrupt when they are unable to control the cost of running the business. If you don’t want to have “broke” as your middle name then this article is for you. Below are the 5 secret ways to reduce your cost of living:

Get a Budget: Do you want to reduce your expenses? You have to put yourself on a budget to achieve this. You can either make it daily, weekly or monthly. Have a close watch on your finances for it will keep you financially stable. Even billionaires have experts who they pay to help them regulate their expenses and finances. You are not a billionaire, yet to think you don’t need to place yourself on a budget. How would you become a billionaire? The ball is in your court!
While creating a budget, you will have to make room for unforeseen expenses, the amount you want to save among others. You have to stick to your budget strictly!

Quit eating Out: It’s high time you stop eating out and start making your meals. This will save you lot of money. Only if you knew how much you spend on buying junks and eating out then you would have no choice than to quit. Most that can’t do without eating out are advised to reduce it buy any means possible. Taking your lunch with you to work is a good habit you have to cultivate.
Invest: You must be wondering how investing reduces your cost of living, keep reading to discover how it does. Well, you will find smart people (millionaires) investing in profitable sectors of the economy. Instead of buying exotic cars and building houses which are liabilities, you might want to invest your money into something that will give you good returns. Smart people invest their money instead of acquiring liabilities.

Reduce Shopping: Shop only when it is really necessary! Buying new clothes each time you are going for an event isn’t smart as it is a very wasteful act. You have made a budget already; unfortunately, you saw a shoe or cloth that you fell in love with at first sight. The best thing is to add it to your next budget and not dismantling your budget just because of a shoe. Many People know this but still go ahead to break the rule. Don’t exceed your budget.

Sell Unused Items: Now that you have discovered ways in which you can reduce your cost of living. You might want to sell some of your unused items that consume almost half of your monthly income. You have 3 cars, why not sell one? You don’t like to sell your stuffs, give it out to someone who needs it. There is no point in you acquiring liabilities you don’t make use of. To reduce your cost of living, you have to be in control of your expenses.

Are there any ways to reduce cost of living? Kindly use the comment box.

Source: http://www.signalsng.com/5-ways-reduce-cost-of-living/

Okay o , OP if them say make we buy aso ebi and gele/file for the event nko?

Naso i just dey go FTC and i con jam lalasticlala for road o.

Hmmm

Make i book space.........I beg not for sale oo 30Billlion Dey my acct

Nice

For the bachelors get household items..
Cook your meals, stop going to restaurant or mama put

And stop buying irrelevant things, to impress people you don't know ......

Robert kiyosaki says when things get tough ,
don't cut down on your standard of living, instead
think about how you can improve your income.


If you spend 1million annually on expenses
and ur income annually is 3million
If your expenses jump to 2m per annum due to inflation,
he says rather than cut down on your standard of living


Think of ways to improve your income. move from 3m to 4m or more

cost of living in Nigeria will never be low when dollar is high

I need a budget! Thank you

How can building a house amount to liability

First things first... Leave Nigeria

In as much as we wanna be prudent. We should also think of ways to help ourselves and brace up to the challenge in front of us...


Let's think of ways of bettering our lives by innovations, technology, agriculture, military, etc

wetin this one dey write self...
Five ways to to reduce cost are as follows.
1. Avoid woman : Woman consume money pass petrol most especially when one has a numerous gf.
2. Avoid Drinking: Alcohol no dey ever do man. U take one bottle,you go wan take 40 more
3. Avoid Frnds: Most Frnds would never tell u something positive so one needs to choose wisely wen it comes to making frnds. 98% of frnds would advice to spend only a few teach u how to save.
4 . Avoid expensive life style: Today u wan wear Gucci,tomorrow u paint face like mami water next tomorrow na latest bra u wan wear,drive expensive cars.. Who are u pleasing? be simple and people would appreciate you.

Oga no way

With this economy situation

Imagine earnings below minimum wage and you still want to save OK


Na Hunger go kill you be that unless you go dey do longer throat from on neighbor to another

don't play virtual on bet9ja

Since I started budgeting , I have been able to save, and then the savings I converted to an investment plan I hope will mature and yield high returns

Reduce utility bills like call cards. As in especially for guys, stop the nonsense of calling girls "just to say hi" or "just to hear your voice" and then you end up spending 400naira per day on call credit. That's even more than I spend in a week.
Also avoid unnecessary use of data- clicking unnecessary threads and links, broadcasting GIFs , images etc on social media and clicking every video shared on group chat

noted

Life is Good..

you were making sense until you added building a house is a liability.
I was expecting you to add gambling like bet9ja and virtual bet because those thing is about to ruin my life right now.
if you are a young guy in Nigeria and you don't know how to play bet9ja and virtual bet please go and give testimony in church and thank God for your life because we that know how to play it, we are in big problem.


anyway sometimes
the best way to save money is to sometimes spend some money for no reason.

ubaobi:
How can building a house amount to liability

ur house doesn't put money into your pocket, instead it takes money out of your pocket due to maintenance (painting, soak-away, etc)

To an investor, having a home is kinda a liability.
it becomes an asset when its given out on rent!

Ok

/DQrS7o

Pray God shld make u a Billionaire... u wont brother about Economizing

niqqa:
don't play virtual on bet9ja

lolz.....

Stop buying things you don't need to impress others, truth is nobody give a f**k

booked

chai