Steem4Nigeria Weekly Contest- What are the adjustments you have personally made to cope with the present economic conditions in your city || burnsteem25

It is a Thursday, we are gradually saying goodbye to this week and I hope you all are having a good day, I come here today to pen down this piece of information in my own view as regard the ongoing contest in the steem4nigeria community, Am sure you will enjoy reading this publication.

_{designed in canva}

What are the economic situations in your city/ location as at today?

It is not new about the economic crisis in the country in general and as such all states, cities, towns, and villages are victims of the situation, where do I start from, is it the inflation in the price of gas, or the increase in the price of fuel(petrol), kerosene is not exempted or the increase in the barrels of crude oil which still does not affect the economy of the country as a result of the difference in the value of dollar and naira, the price of household good and materials are x3 of the prices some month or a year ago.

Having said this, the economic situation in my location as at today is not encouraging, to eat now at a local canteen to satisfactory, you have to spend a minimum of #500(4.2steem), the prices of foodstuffs have a spike that 10000(84steem) cannot get you enough stuff for a whole week.

The prices of transportation is another situation which has not been favorable since the increase in the price of petrol, the skyrocketing price is always a surprise because it increases weekly or maybe every two weeks.

I remember filling 3kg of gas at 2250(20.5steem) and in the next two or three weeks I had to fill that same amount at 900 per kg which was previously 750 weeks ago, the initial price of a kg of gas was 250 last year, the inflation rate is so much that the prices go goods are x3 of its initial price, many other economic situations are not convenient, but we just keep adapting because we need to survive.

What are those government subventions, polices, or palliatives put in place now to help reduce the over-bearing inflation?

Truth be told there are some initiatives that the government has put in place to help in the reduction of inflation, but all of those initiatives are not functioning perfectly, the operation feed the nation, the empowerment of youths, the support given to the agricultural sector, all of these initiatives was introduced to help the situation but I can say that it hasn't helped at all, well some people may be benefiting from it but It's not covering a wide range as such the number of people benefiting from this initiatives are limited.

So to me, all of their plans to reduce the percentage of inflation have been negative, and as such the economic situation keeps becoming a problem to the extent that the rate of exchange of naira to us dollar is not reasonable.

What are those personal adjustments you've put in place to help reduce the economic impact around you?

Firstly, what I did was made sure I tabled all of my needs on a scale of preference, I go for the pressing needs and by that, I have been able to adjust my earnings and also I do more stocking of foodstuffs at home when comparing the amount spent on food weekly will surely buy foodstuffs that will sustain for 2weeks or more.

I try to make sure I don't spend unreasonably, I made my budget on paper or my device notebook and made sure I don't go beyond my budget. Using this idea, I have been able to sustain myself and adjusted to the economic situation around me.

Do you have any recommendations for the audience today as a way of helping them at these trying times?

In this current economic situation, there is no room for savings, it is worst that I can't afford to save any money for future purposes, but all I do and can recommend is that we should budget our needs and go for the pressing ones, never spend beyond your budget or better still go to the market with the same amount of money you intend to spend to avoid going beyond your budget.

We should also learn to manage and cut out coats according to our sizes, the situation is not a funny one and I don't see any good coming soon because the pressing problem of the office elect is the forthcoming elections, but before then I will advise we create like 2-3 means of income to as to survive comfortably until the economic situation is stable.

in conclusion, I have highlighted a few of the economic situations in my city and as such I want you to know that right now, we don't matter to the government as this situation will continue until only God knows, but if you can stick to my recommendations I believe it will help you grow and assist you financially until we problem is sorted, and it is here I drop my pen and hopefully, soon a better solution will be provided.

Greetings and blessings
Written by:- @olabillions
25% to null
10% to steem4nigeria