3 best tips to manage your money during economic hardship

The rising cost of goods and services in the market has made many Nigerians grapple with how to spend and manage their money.

Whether you’re feeling the hustle in Lagos or the challenges in Abuja, these tips are here to help us navigate through economic ups and downs.

1. Spend wisely

Don’t prioritize wants over needs; that’s not practical.Instead, make a list of essential needs like food, rent, and transportation.

Only spend money on wants, like subscriptions or extra clothes, after you’ve covered your needs.

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2. Evaluate your relationships

Avoid keeping people around who could harm you. Instead, invest your time in those who positively impact your life emotionally or financially, reducing stress and contributing to your overall well-being.

3. Be realistic about your finances

Avoid planning with money you may never have; it’s risky.

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Instead, create a budget to easily understand what you can afford.