With dire economic times knocking at everyone's doorstep, there is a growing concern of meeting our daily needs. With a vast world that is largely driven by consumerism, the lowering of anyone's purchase power is a headache and strenuous exercise. Yet this might actually be a blessing in disguise if you adhere to a disciplined spending trajectory.
Here are a few tips to not only survive but to thrive under a low-income budget;
Draw up a financial plan that suits your needs and works for you.
No matter your level of income, there is always a financial plan that suits your financial muscle perfectly. Most people don't take the time of noting down their costs and expenses vis a vis their incoming cash streams, eventually, they find themselves in debts having spent on items they had no use for in the first instance. So draw up a plan and stick to it.
Research on the current market prices and find a place that suits your budget.
In economics, there is a factor known as "Demonstration effect" where a consumer wants to appear to be maintaining a lifestyle that is at par with his previous relative income and to that of his neighbors. Do not compete with friends and colleagues when it comes to expenditure, buy goods that suit your budget and at the cheapest places possible.
Learn the art of negotiation.
Always seek out to chip off the price as much as possible from a retailer. You can always stroll in at closing hours when the goods are being sold at "Bei ya Jioni" (Closing prices). Good quality is ascertained without hurting your pockets.
Inform your friends of your budget constraints.
When your friends propose very expensive hangouts, you should come clean and tell them of your fixed budget limits. Good friends will understand and even propose ideas that will work with what you can afford. Carpooling and even joint travel vacations are much cheaper per person. No need to rent a single hotel room, share the room!
Learn how to balance your diet on a budget.
Instead of shopping at supermarkets, take time to search for the nearest open markets, where vegetables and foodstuff are sold cheaply yet are very fresh. Buy in bulk for a given period, this lowers your budget due to the workings of economies of scale.
Low-cost workouts and exercise routines.
Keeping fit is a vital part of staying healthy and refreshed, though it may also be very expensive to join a gym or aerobics facility. There are other less costly and natural ways of exercising; using bike rides, running around the neighborhood, indoor exercises like sit-ups, squats, and push-ups.
Learn how to enjoy yourself in nature.
There is no need for spending large volumes of cash just to experience nature and relax. There are simple and inexpensive ways of chilling. Hiking trails are fun, beach walks, picnics with your loved ones at public parks are also nice and much more fun.