If It's Money, I Can Probably Do It!!!
It’s no news about the state of our economy and how since the new government administration, things have been on a steady decline. Right from the moment that BAT was declared the winner of the election, the price of petrol went up overnight, and that marked the start of a series of insane inflation that will shake the economy to its core.
Soon, everything else went up as well. However, when we thought things were at their worst and couldn’t get any worse, that was when the naira and dollar wars began. It pains me to say this, but the naira was failing massively. The cost of the naira to a dollar kept on increasing with reckless abandon until it almost hit the N2000 mark.
That was when the government chose to take action against Binance, fingering them as the cause of the incessant devaluation of the naira against the dollar. All allegedly, of course. However, it was this bold move that brought about the much-needed change that we were looking for and soon, the naira started appreciating. Since then, it has experienced a steady increase and now, it’s trading at just about N1200 against the dollar. If this trend continues, it will go back below N1000 within a few months.
But then, the appreciation of the naira has not really changed anything about the high cost of living. Things are still very much expensive and traders are still charging an arm and a leg. There’s a perfectly good explanation for all that, maybe I’ll cover it in a separate post.
Anyway, based on today’s topic, I’ll be talking about the current state of the economy. Right now, I’m earning roughly enough to take care of myself, both as a student and as an independent human. With the daily billings that come with being a student, or living in a house that consumes utilities, it’s unavoidable that one will pay bills. And then, I’ve not even mentioned feeding, transport, and all that.
There are a lot of things swallowing up my money and when I calm down to run the maths, at this current rate, surviving in another country might not be as easy as I expect. I’m working remotely, but with what I’m making right now if I decide to move to Canada or somewhere else in Europe, I’d be forced to take up another job.
The cost of living is also high in other countries, this can’t be disputed. The better the house, the more money you’ll have to pay for it. And then, there are so many bills to be paid, so many taxes that are heaped on everyday people. All these things lead to a more costly way of life. Although it’s also what helps them to create a more sustainable system of government, and why everything seems to work out for them, but it’s still going to be high.
But then, with the current rate I’m earning, I’ll probably be a rich kid in South Korea. Right now, I’m definitely a millionaire in won (South Korean’s local currency). So, if I decide to move there with this current earning of mine, I might be able to live comfortably.
Still, I’ve never been to South Korea and I have no idea about their economic system or the cost of living in the country. So it could turn out that I’m only deceiving myself and even with all that, I still won’t have enough.
The thing is, you’ll never really know for sure until you get there and you live there. For you to properly be able to judge an economy, you need to be a part of it, even if it’s just for a short while. Gauge how expensive or cheap things are, from living arrangements to the small kiosk selling ice cream by the side of the road, that’s the only way you’ll know for sure what your earnings can and cannot get for you.
But then, I guess only time will tell.
BAT didn't do well and his prophecy almost came to reality because he said we would return to eating maize and garri. The cost of living in Naija has become something else but it's still better than relocating and earning the same money.
It costs more to live abroad because we will pay for almost everything except for the air we breath.
It costs more to live abroad ooo, and the taxing there is just something else entirely. It's just frustrating...
The cost of living in this country is unbelievable and if something is not done about it, we might end up back to Garri and maize like he said.
I know other countries cost of living is much but it will definitely be more than our country.
Omo... surviving in another country on what we earn here may not be all that easy.
The current president is not really doing anything significant according to my own perspective. In fact I am seeing its own tenure as even been more worst than the previous president. Well let's hope for the better future
That's all we can do at this point; hope.
You are the kind of writer that loves to play with words but today you went straight to the point by stating the current administration as the reason behind the hike in the prices of commodities. It seems this present economy is hitting everyone equally 😅
There is a friend of mine in Germany, anytime I'm teasing her about the amount she is making over there, she always find it difficult to consider it as a compliment. She would reply by saying, if only you knew how much Is deducted from my salary per month as tax, you would pity me.
Most people trying so hard to travel abroad are not really aware of this, they just want to JAPA. By the time they get there they would realise the grass is not greener at the other side.
Well I can't imagine you speaking Korea, you will definitely sound ridiculous 😅. I mean if eventually you decide to relocate there you will have to learn their language.
Omo... this economy hit me wetin no good!
Taxes are always high, and when you choose to live in an industrious area, the rent and cost of living will be enough to cut off a person's neck.
It's insane!
Yeah I can relate 😔
The way a lot of people usually say that living in some other countries is better, we never can tell until we live there just as you have said
You can’t know something when you have not entered it
You can never know ooo, not until you become a part of the system.
Congratulations @bruno-kema! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 11500 replies.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Thank you for this.
That's great @bruno-kema! We're excited to see your accomplishments on Hive! We keep cheering you on for your next goal!
BTW, we noticed we miss your support for our proposal. Mays we ask you to check it out and consider supporting it?
All you need to do is to click on the "support" button on this page: https://peakd.com/proposals/248.
Thank you!
In you work online then your earning won't be impacted in other countries also but in case of offline earning I don't think you can get any extra advantage. In developed countries the earning is huge and the spending also huge and it's opposite for developing countries.
I guess, every area has what works best for them. It's up to we the individuals to figure out the best way to go about it.