Gone are the days when people cut their coats according to their sizes and it's no news that the cost of living in my country at the moment only supports cutting your coat according to the material you have because as it stands, many Nigerians don't have the material it would take to even cut a coat of their sizes. The citizens of the country at the moment are left to cope with what their little income can afford and it is quite challenging because the cost of living has gone from fair to worse.
What I am driving at?
There was a time when many citizens of this great nation could live comfortably despite that small income, the cost of living wasn't choking and things were easy to an extent. Without exaggerating, $1 was enough for me to enjoy two proper meals in a day during that time but it's a whole different story in this current harsh economy where $1 isn't enough for just one meal.
In recent times, a lot of Nigerians have adjusted their lifestyle to cope with the hike in the country's cost of living and it's so annoying because a lot of people go about trimming down their expenses from time to time just to survive this challenging time. It can be so frustrating coping with the same income from 2020 to 2024 which is the case for many citizens since the minimum wage in the country can't increase just like the cost of living is doing.
As a minimalist, I have always lived below my means for many reasons which made coping with the high cost of living easy for a while but at the moment, even living within my means is now even more difficult because my means isn't enough anymore. Surviving has become challenging with the increment in rent, food items, transportation, utility bills and others,
To my understanding, the hike in the cost of living is a global thing due to the inflation the world is experiencing as a whole except that it's hitting harder in some parts of the world than others. Comparing the cost of living in my country with other countries is kind of impossible because I don't have first-hand experience but judging by my knowledge, it would be unwise to think of surviving with the same money I earn here in many other countries across the world and this is because of the Naira devaluation against Dollar.
According to STATS, Nigeria is one of the most affordable places to live in the world and if am struggling to cope with the cost of living here, what would things look like if I move to another country to depend on the same income I earn in Nigeria? If I am being honest, my income here won't give me a better life in any part of the world at the moment.
Let's use my rent as a case study; I stay in a 3bedroom flat that costs me about $450 annually with the current exchange rate and it would be difficult for me to get the same size of apartment for that amount in many countries where I would have love to reside in permanently. As a matter of fact, $450 wouldn't be enough for monthly rent in some parts of the world so it's fair to say that the cost of living here is lower compared to many countries across the world.
My monthly utilities aren't left out, all these things come at cheaper rates compared to other countries and my earnings in Nigeria wouldn't do me any good far away from Nigeria. Despite the huge difference in the cost of living between Nigeria and many other countries, I still wish to relocate to a different part of the world.
I do not intend to earn the same income there as I did in Nigeria and since the minimum wage over there isn't the same as that of Nigeria, coping abroad would be possible but things might end up the same way since I am paying higher to live abroad than I did in Nigeria while I also earn bigger than I did in Nigeria as well.
While struggling with the high cost of living, looking into and embracing a sustainable lifestyle can help us cope during this difficult times. Getting involved with remote jobs, growing some of our food and many other minimalist lifestyles can still go a long way in helping us cope with this high cost of living globally.
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It's actually difficult to compare exactly the cost of living here in Nigeria and in any other countries since you and I haven't Cross boarder..lolz
However from what Mom y friend living in UK told me..hmmm, it's quite expensive there.. everything is task just that the earning there is good enough
While we are still here in naija... embracing minimalist lifestyle seems cool
Living abroad costs more, it costs a lot but the fact that there are opportunities there would make us relocate. If money was surplus for Nigerians, the majority of us wouldn't be worried about what's happening in the country.
Embracing minimalism during this time can go a long way for us.
I came across a random post on Facebook and people were asked, take 50 million to live in Nigeria or relocate to abroad, see peoples response oo 😂
Many still choose to stay, obviously due to cost of living there but with a good job over there, surviving it is also possible
Its quite sad and so frustrating. But what can one do? 2024 has been termed the year of global famine. What this means is that the world 🌎 in general will face a massive recession.
We are hoping on God’s intervention because some countries will suffer it more than others especially those without economic stability. Its really hard to cut the coat 🧥 to size any more.
Thanks George for this wonderful light. Everyone needs to strategize and improvise.
Blessings
We can only count on God because human governance has failed us and I don't expect any change to happen from them. A lot is happening and it's sad to see people working tirelessly but can't afford 2 meals a day.
Let's be hopeful and thanks for your wonderful comment.
well said. yap it's the same pretty much anywhere these days.
one really has to wonder how - among all the technological achievements and progressions of science and technology people always talk about - the actual basis for merely eating and surviving is becoming more difficult to maintain every day.
value is leaking somewhere. and thus something can't be quite right with the modern fairytales we have been told.
maybe it is god's invitation to grow up and care for ourselves in a smart way, like you mentioned. growing our own food and using knowledge to overcome these system hurdles.
blessings to nigeria
I agree with your point because it seems we are trading a lot of goods for technological advancement which isn't helping matters. The economy globally is deteriorating and truly it might be God's way of calling us to live as we should.
Thanks for this very thoughtful comment and happy weekend to you.
to you too man
With the way cost of living is in our country, we just have to push ourselves out to find more sources of income and living a minimalist lifestyle which will help us cope better. I also think the cost of living in other countries is higher than Nigeria in terms of these basic necessities like house rent, food etc
Having more steams of income will go a long way for us and we still have to manage resources to avoid getting broke easily even after making that money.
I am open to seeking greener pastures, let's make more money abroad and invest here...
I think staying in Nigeria is much better than relocating to another country, we are all saying house rent in Nigeria is so costly, how sure are we that if we relocate to another country the money we will be paying there won't be times two of the one we are paying in Nigeria? The only thing we need in Nigeria is God's intervention.
Your earnings over there will make it possible for you to pay your bills over there but you might not be able to do more just like we are struggling here.
What I have observed is that our expenditure matches our earnings globally and it will take lots of hard work and grace not to be stuck just working to pay only bills.
I read few blogs regarding the economic conditions in Nigeria. It looks disheartening as the people who can't afford enough will be struggling a lot. I hope every nation government comes on this common cause just like the climate change. No body wants to lead a suffering life.
Our leaders have a lot of jobs to do and I don't see them doing any because they are so busy with accumulating wealth for themselves. Tackling the high cost of living in the world would require everyone joining efforts.
Yeah. Joining efforts before it becomes a never ending issue
The cost of living is really quite alarming I must say. Are you planning to also leave the country or should I say Japa?
Lolz! If I have my way, I wouldn't mind to and my reason is to make money to setup something huge for myself before retirement.
I think that is a great plan where it is needed to get setup
The point of relocating is to seek a more comfortable place for living, which means it should come with normal benefits such as being paid with the country currency but in a case whereby you relocate to a country whose currency value is greater than ours and you are still being paid the same amount you were getting here, what is now the point of relocating? 😂
You have a good point bro, relocating should be about going to country with powerful currencies compared to Naija.
Minimalist approach is quite a good skill. The cost of living is rising globally and we can't control it. The best we can do improvise our lifestyle and try to increase our Income. Keep it up dear. Have a good day !LUV !PIZZA
I agree with you because controlling the cost of living globally isn't something that can be done by a single person. The only thing we can do is to improvise and make things easier for ourselves.
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The coats are not cut according to our sizes any more but the length of our materials.
Even doing everything, the cost of living is going beyond bearable.
I will gladly accept relocation as it stands right now.
Lolz, every Nigerian now will embrace relocation even though we don't know what's waiting for us on the other side. Things are truly challenging and surviving hasn't been more difficult for Nigerians.
You are very correct.
It has never been more difficult for Nigerians.
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Sheesh! rent of a 3bedroom flat that costs you about $450 annually? ¿$37.5 monthly?
Holy smokes boy, you won't find that kind of deal not even in Narnia. So, I would say stay in Nigeria as long as you can. Whether with God's help or without it! :)
It cheaper to live here truly and that's because of the minimum wage and the devaluation of Naira. Living abroad isn't a problem despite the high of living, it's an opportunity to make more money to establish oneself back at home.
Well, that might work if you stay in Nigeria and work abroad online. This way you could earn income from a higher salary but spend the money in a cheaper country.
Because if you were really going to physically live abroad. Do you really believe you'd be able to save any money to bring it back home?