Surviving through different economic situations.
It is a thing of interest a worth looking into how humans survive in different economic situations.
When there is more money, we tend to spend more and when there is none you see humans adjust almost immediately.
This is one lesson I have learnt lately regarding the fuel subsidy removal that happened suddenly in my country.
Fuel has been the basis of most activities in the country and the prices of almost every other commodities is hinged around it.
When there is a 10% rise in the price of fuel, it is reflected directly by a 10% or more rise in the price of every commodity in the market.
The reasons are not far fetched, since road is the major transportation route between the different states of the country. Farm products talking about food are transported by road to the eastern part of the country and oil producing areas, while processed petroleum products such as rubbers or even handmade goods like shoes, bags and clothes are exchanged to the north.
The abrupt change in the price of fuel happened within a twinkle of an eye and since there is no going back in the decision, I have kept a keen eyes to see how my fellow country people will survive this ordeal.. From buying fuel at a N180 we initially moved to N220 and now it is sold at N500 and above which varies depending on the level of civilization and activities of the different states in the country
Here are some major changes that became noticeable.
- Reduction in Mobility rate.
People within the country have reduced every form of unnecessary movements among themselves. Movements that involves one taking a cab or burning fuel in general.
Most citizens cannot afford to pay $0.5 for a ride and hence with mobile form of community, the physical movements and connections were reduced.
- Looking into other means of transportation
We are beginning to notice a sudden increase in the use of other means of transportation, bicycles are beginning to surface and though this looks like fun, it is actually a fair means of transportation.
Distances that are within cities can be covered and if these bicycles are designed to become more fancier more people will adopt this means especially the massive amount of youths and school children in the country.
- Reduces social activities.
I believe that social activities have reduced or the forms of extravagant spendings carried out on these occasions. If the prices of commodities multiplied and you cannot afford to feed a town hall filled with people for your wedding and all, the odd remains that you will opt for a ceremony with lesser number of individuals you can afford to entertain.
- Buying locally made products.
Most of the times our spendings are rallied around making a choice of buying products from different far locations expecting them to be way billed down to us at a cost.
Imagine myself going to buy a piece of fabric from far north when I can improvise or use a similar fabric been sold at my locations.
The choice now remains that people will begin to patronize products sold within their neighborhood to cut down different way bills and transportation cost.
Why take a cab of a dollar to get to the market just for tomatoes when a wholesaler lives right by my doorstep?
The various flimsy reasons of wanting it fresh and the going to the market to make a selection is removed.
Different forms of lifestyle adjustment.
From all of the simple scenarios shown above, I believe that humans can survive in any/different kind of economic and financial situations.
A change of lifestyle has a positive role to play in our incomes and expenditure.