I really cannot explain why but the first thing we did when we heard the news of the removal of fuel subsidy was to rush to the market to buy a bag of rice for starters. As the value of the naira keeps depreciating, the exchange rates are nothing but a nightmare. If ever there was a time to be smart with money, it is now.
I’m going to share 10 tips that have helped me during this period while shopping for groceries and other basic necessities.
1. Draw up a budget
It’s important to have a figure you’re working with. No more impulsive or unplanned spending. Right now, you want to know how much you’re spending on groceries, transportation, light, water, among other things.
If the budget for food and household bills is a realistic 50k a month, commit to it. Focus on the basics and you will be fine.
2. Shop with a list
It will help you be disciplined while shopping. Anything that’s not on my list won’t be bought. To ensure you put down all you need on that list, it’s advisable to start writing down items you want to shop at least a day before. This will ensure you don’t forget important things. To avoid a situation where you forgot to buy something as small but important as salt or matches, all because you wrote that list in a hurry and rushed out of the house.
3. Shop local
I don’t shop in the ultra-modern markets or any of those markets in the heart of town. I shop in the very local bush market or farmer’s market as it’s called in other climes. This is because shopping at the local bush/farmer’s market cuts out the middlemen since you’re buying directly from the farmers. And they pay cheaper taxes compared to the ultra-modern markets. What this means is you’re buying at cheaper prices.
4. Buy in season
A few months ago, the price of tomatoes hit the roof. But before this, it was a lot cheaper. I remember a friend who sells tomatoes kept urging people to stock up cos once the rains start, prices would triple. A few of us were lucky to buy several baskets and dried them. So while people were complaining about the high cost of tomatoes, we were balling. Buying in season helps you save.
5. Food Banks
There’s this contribution people make every month and at the end of the agreed time, they’re given foodstuff with the monies contributed. I have a friend who has been doing this for years and what she gets when foodstuff is shared is crazy. Like she gets over 120k worth of foodstuff from a contribution of less than 50k. It’s a good deal.
6. Night Market
Coupons and promo codes aren’t common in these parts, but night market is. All our mothers know the real clearance or Black Friday sales happen in the market in the evenings. Something that sold for #500 in the morning can sell for as low as #150 in the evening. Why? Because sellers do not want to go back with all the wares they came to market with. Plus, I think they’ve already made their profit for the day. This is the best time of day to shop on a budget.
7. Buy bulk
Can’t say this enough but really, buying in bits is not economical. Buy enough to last you for a month, at least. Buying rice in bags is a lot cheaper than buying mudu or kongo. Buying oil in gallons is much cheaper than buying frequently in bottles. It’s more profit for the seller but more expenses for you.
8. Don’t shop hungry
Telling from personal experience and experiences of others. When you’re hungry, everything will look good to buy. But when you get back home, you’ll weep when you start bringing out the content of your shopping bag. Shopping makes you hungry so ensure you eat a proper meal before going out.
9. Build relationships with sellers
I have sellers for everything I need. I know them and they know me. And because of that relationship, I always get preferential treatment in the market most importantly, I get generous quantities of anything I’m buying from them. We’ve had this relationship for years. It pays.
10. Embrace minimalism
Sometimes, we don’t need all the things we think we need. I’d like to use the pot of soup as an example. You don’t have to have what we Nigerians call ‘assorted’ (all kinds of meat) in one pot. Keep it simple. Even Jamie Oliver will be horrified to find meat and fish in one pot 🤣🤣.
- Joy Mfon Essien is an Entrepreneur and the CEO, of Discover Essence Media, Millionaire Woman Soapworks and Delicioso Foods. Writer, TV presenter and producer, Wellness Coach and mom of two.
