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5 Tips to Lower Your Living Costs

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We are experiencing tough economic times in Nigeria and around the world. The cost of food and other essential commodities has skyrocketed, meaning that most of us will have to adjust our lifestyles accordingly in order to live somewhat comfortably.

As we hope for things to get better, here are five suggestions on how to save money at home.

1. Review current expenses

Start by listing all your monthly expenses, such as rent, food and groceries, transport, airtime, power, water, personal upkeep, and so on. Analyse each item critically, as this will paint a clearer picture of your spending habits and give you an indication of what you can cut back on and what you can do without entirely.

Memberships and subscriptions are loopholes for spending money unnecessarily because people tend to pay and not utilise these services accordingly. Check how you use your monthly TV subscriptions or gym memberships, and consider cancelling them if they are hardly used or switching to less expensive packages that suit your needs. Upgrade when necessary or over the holidays when you have more time to spare. The same applies to internet services as well.

2. Shopping options

Take the time to identify multiple service providers and retailers for price comparisons. Doing this will help you settle on cheaper or more affordable alternatives to fit your budget. Another cost-saving tip is to consider bulk buying non-perishable items, which is becoming increasingly popular in Nigeria as more people move towards bulk shopping from wholesalers. If you live alone and are concerned about the quantity of the goods, pair up with someone else and split the items with them.

Don’t shy away from signing up for reward programmes commonly referred to as “points” offered by local supermarkets. They always come in handy when you have stretched your budget, and you can use them to top up the difference. Keep an eye out for daily or weekly bargains on household items frequently advertised by supermarket chains.

Also, start planning your meals on a weekly or monthly basis. A meal plan guides you when grocery shopping, helping reduce food wastage because you only buy what you need for the meals. This is especially true of groceries, which we are all guilty of purchasing in excess from time to time.

3. Outsource help

Releasing your live-in housekeeper and scheduling a domestic worker from SweepSouth Connect to come in once or twice a week to clean your home is a viable cost-cutting approach if you live alone, have older children, or other adults staying with you. Assign the remaining light responsibilities to the rest of the household.

“Security and safety are important to us, and all our staff go through thorough vetting before enlisting their services,” says Awazi Angbalaga, Country Manager for SweepSouth Connect Nigeria, an on-demand online home cleaning service platform that connects people with trusted domestic professionals. “We understand the need to have someone trustworthy in your home. Once you’ve given instructions, allow them to carry out their tasks with the confidence that the cleaning will be completed to the utmost standards,” says Angbalaga.

“Getting in a cleaner to help you with time-intensive chores like windows, cleaning kitchen cabinets, the fridge and oven, so that your house looks sparkly clean, frees you up to be able to spend time on other responsibilities you may have,” she adds.

For homes with two housekeepers, consider letting one go if you can no longer afford both and hire help as and when the need arises.

4. Save energy

Electricity is one of the most costly but necessary household expenses. Switch from the ‘normal’ light bulbs known as incandescent bulbs to LED bulbs as they are more energy-efficient and last longer. Carefully select and use the most energy-efficient settings on your washing machine and run it only once or twice during the week. If you have a dryer, rather hang your clothes outside to dry. Layer up, whether inside or outside the house, to keep warm so that you won’t have to use heaters unnecessarily.

Other small tips, like ensuring the lights are off when not needed, and taking shorter showers go a long way. Cooking in bulk and freezing the food saves gas and time. It also comes in handy on days when you can’t cook for one reason or another, and then you have ready-to-go meals.

5. Lifestyle

We all like to enjoy the little joys and comforts that life offers. However, when tough times call, we should be ready to scale down on these luxuries.

Reduce the number of times you eat out or buy take-outs in a month. It will save you more money and is also a healthier option for you in the long run. Carpool to work or other engagements with a friend or relative who lives in or around your neighbourhood. Share the cost of fuel or alternate cars every week. Examine how much you spend on grooming each month, and do what you can at home.

There are many ways one can cut costs on the home front. However, for this exercise to be successful, honesty with oneself is required to make an informed judgement when making the necessary changes. If you struggle to be honest with yourself or you need assistance, consider engaging a financial planner to help you shift your focus to the right things, put your money into perspective, and give you sound advice.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NLC Shuts Lagos TV, Radio Stations over non-Implementation of N85,000 Minimum Wage

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Nigeria Labour Congress (NLC), Lagos State chapter has shut down normal operations of Lagos Television, Eko FM/Radio Lagos and Lagos Traffic Radio in protest over the non-implementation of the N85,000 minimum wage to workers,


NLC Shuts Lagos TV, Radio Stations over non-Implementation of N85,000 Minimum Wage

NLC, in collaboration with workers of the three broadcast stations under the aegis of Radio, Television, Theatre and Arts Workers Union of Nigeria (RATTAWU), on Monday picketed the station.

The workers, few weeks ago, had notified the management of the three stations of their readiness to down tools following the failure of the stations to implement the minimum wage being implemented by the Lagos State Government.

The workers were seen on Monday morning blocking the entrance and exit to the Agidingbi complex of the broadcast stations, displaying placards.

The placards with various inscriptions read, “Oracle is the answer, it’s all we need”, “Pay us minimum wage,” among others.

Speaking with newsmen, Comrade Funmi Sessi, chairman of NLC, said the protest was peaceful to draw the attention of the management to the demands of workers.

“We started in a peaceful manner, and we are going to end it in a peaceful manner. No body is going to push us the wall.

“I assure everybody that we shall be peaceful because we are Lagosians.

“We are here this morning you can see the workers of government in communication departments that is LTV, Eko FM, Traffic Radio, all here to show their displeasure against the injustice that is been meted out to them.

“They work to the best of their abilities and now at the receiving end by being shortchanged. And not receiving the new minimum wage as being approved and agreed by the law set by the Federal Government of Nigeria

“This is an injustice to the set of workers. The managements have been given the mandate to pay the minimum wage has been announced by the Lagos State Government. They are Lagos State workers.

“Since the government has commenced implementation of the N85,000 minimum wage since November, they have never collected the minimum wage.

“The arrears of the three months and the 13th months; they have not been enjoying the benefits. So, why this disparity for these set of workers even in the face of this hardship?

The leadership of their union had engaged the management previously. They gave a-21-day notice to dialogue.

“After several engagements with managements, they gave 14 days, then seven days. They followed due process, yet there was no resolution. Now when they saw that the workers are resolute to fight for their right, they are saying sheathe your sword.”

Comrade Sessi noted that the state governor had been doing a lot by showing compassion on workers, urging him to prevail on the management to do the needful.

“Though, the governor has been doing a lot and showing empathy to workers, we are hereby appealing to him to prevail on the management to do the needful and avoid unnecessary disruption to operations in the interest of the majority.

“We will sustain this struggle until the government listens and takes appropriate action on these demands,” she said.

 

 


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New WAEC Program Offers Faster Route for Students to Improve WASSCE Grades

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West African Examinations Council (WAEC) in Ghana, has announced a new initiative, which will allow students to resit their WASSCE papers as early as January and February 2025.

This is a change from the norm in Ghana, where candidates had to wait for the next private exam cycle.

The Head of Public Affairs at WAEC, John Kapi, disclosed this while speaking on JoyNews’ AM Show in Ghana.

He explained that the new programme, referred to as WASSCE PC1, provides a faster route for students to improve their grades.

“Students who access their results now and realise they need to resit one or two papers have until 8th January to register online through our website or at WAEC-accredited internet cafés. The exams will take place from 24th January to 15th February 2025,” Mr Kapi stated.

According to him, to aid candidates in their preparations, WAEC plans to expedite the release of chief examiners’ reports, saying, “These reports will provide detailed feedback on where students may have gone wrong and how they can better approach their studies and the examination process.

“We’ve advertised this programme widely through banners, our website, and our results checker platform to ensure that both students and parents are aware,” Mr Kapi added.

He said students whose results have been cancelled are also eligible to sit the WASSCE PC1 exams, provided they have not been banned for some years for malpractice.

“For now, the exams will be conducted in regional capitals due to the limited number of candidates. Prospective participants are urged to complete their registration by the 8th of January to take advantage of this opportunity.”

WAEC, however, expressed optimism that this initiative will allow candidates to quickly improve their grades and qualify for the next cycle of admissions, avoiding a year-long delay in their academic progress.


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NBC Okays Radio Station for CMCM

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Christ Miracle Church Mission (CMCM) in Ojodu Berger, Lagos, has received approval from the National Broadcasting Commission (NBC) to operate its new state-of-the-art radio station.

NBC Okays Radio Station for CMCM

The commission said the radio was ready to commence transmission after expressing satisfaction with the facility.

Mr Raphael Akpan, zonal director, NBC, stated this while leading a team of officials on an assessment tour of the radio station.

During the visit, the officials inspected the studio area, the transmitter, the inverter, the mast, the generator, and other important places.

After the tour, the zonal director spoke with reporters and expressed his pleasure at the church being granted a broadcast license to operate a radio station. He noted that this would enhance the church’s voice in the community.

The director also mentioned that the purpose of his visit was to ensure that proper procedures are followed and that the content broadcast adheres to current laws.

Akpan praised Prophet Peter Abiola Adebisi, founder of the church, along with the church council for their initiative to establish the radio station.

“From our observation, we can say that the CMCM Champion broadcasting network 90.7FM is ready for transmission.

“It is our prayer that this radio station will go places,” he said.

The zonal director emphasized the importance of proper training for the personnel working at the radio station.

He encouraged them to familiarize themselves with relevant sections of the National Broadcasting Code to ensure they are well-informed.

It is vital for studio managers to engage in self-reflection regarding their adherence to the standards outlined in the Code.

“The operators in the studio should thoroughly understand the various sections of the NBC, which cover broadcasting standards, commercials, engineering, and more,” he stated.

Prophet Adebisi commended the NBC management for granting the church permission to operate the radio station.

He mentioned that the station would promote church programs and policies, share the CMCM story with the world, train members, who have a passion for broadcast journalism, and create employment opportunities for them, among other benefits.

Additionally, Adegbie Taiwo Jordan, chief executive officer of the station, assured that the operators would comply with all broadcasting regulations set by the regulatory agency.

 


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