Financial wisdom in difficult Economic times… Part 2

Okay guys, how are you doing today?
Just two days ago, we started a 2-part series on how you can begin to stand out financially in these tough times.
See, make no mistake about it.
Times have changed and the macro economies of Nigeria is shifting and it is tumbling down on the micro level and of course you can’t continue to sing qua sera sera and then allow the storms meet you where you are, unprepared.
So today I want us to take a look at 3 other steps you can take right away to make the most of your finances this season:
(Since we looked at first 3 steps the last time, let’s continue from No. 4)

4. Buy your household items in bulk.

Yes, buy things in bulk – especially non-perishable items.

Many stores offer items in packs, which means you can actually save money – let’s say, between 15-25% – in the long run if you buy them in bulk instead of buying them individually.

Tips:
• Partner with colleagues, friends, and neighbours to purchase things in bulk and share at the end of the month. With such arrangement, you can enjoy amazing discounts.

For example, it is safer and cheaper to travel in group.

5. Learn to negotiate things:

This is the time to dust off or hone your negotiating skills. You can actually save amazing funds by just negotiating for a discount. Don’t be shy. Do it.

In the words of Donald Trump: ‘’anything is negotiable.”
Tips:
• Negotiate for mode of payment without interest
• Negotiate for discount
• Negotiate for additional services that you would have paid for.
• Negotiate for additional time before payment. Always remember that every item has 2 price sides: real price and market estimated price.

Gun for the real price.

6. Cut down on your bad habits.

Cutting back on alcoholic consumption as well as fizzy drinks and junk foods are a great way to save money during this period.

In case you don’t know, this habit can really contend with your budget and it is not healthy for you either.

Learn to take food to work.

7. Learn and find ways to earn extra income.

Okay guys, those are the 7 steps you can take right away to safeguard your finances and get yourself on the right track in these tough times. I hope you find them useful. I will love to hear what you think in the comment section below.
I still have 8 more interesting stuffs to share with you, but I will only do that if you promise to stick around.
But until I come your way again, remember to stay fit!

Cornel Agwu
Financial Fitness Expert
#FinancialFitnessSeries

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