- Protect & Grow Your Savings
Real assets: Consider investing in real estate, precious metals (like gold), or tangible commodities these often outperform inflation .
Diversify portfolios: Spread out investments across equities, bonds, REITs, mutual funds—mixing asset types helps mitigate inflation’s bite .
Inflation-linked securities: Sovereign Sukuk bonds (from the federal government) adjust with CPI, helping keep real value intact .
High-yield savings: Explore reputable high-interest savings platforms—like fintech alternatives offering ~21% returns—but always assess risk and credibility .
- Spend Smart & Budget Strategically
Track frequent expense categories—food especially. The Jollof Index, tracking key ingredients, shows food costs rose dramatically; a single pot now equals ~40% of the new minimum wage .
Focus on cost-saving at home: buy in bulk, optimize meal plans, and reduce discretionary spending.
- Upskill for Higher Income
Investing in your skills (professional certifications, entrepreneurial training) can increase earning power—key in an inflationary environment .
- Diversify Income Streams
Side gigs, freelance work, or small online businesses can help counteract inflation’s impact on income.
