Hustlenomics - How to beat inflation during hard economic times

Our domination of this planet, which includes pushing some species into extinction, is partly driven by our ability to adjust to changing circumstances. We even adjust to wars. Let’s focus on some adjustments on the economic front. 

The rise in the cost of living or inflation was a political issue for the new government, leading to violent demonstrations last year. The prices have now stabilised because we have no money, not because the economy has improved.

Most citizens have cut costs, adjusted their diets, cut off unnecessary expenses, started side hustles, moved houses, worked from home, and changed schools for their children, among others.

Costs are the easiest to adjust, not income, which is often controlled by the employer or the market. When did you last get a salary raise?

Unless you sell something very unique, customers will run away if you raise the prices. It’s worse now when they have no money. A few cases illustrate our adjustment to the rising costs, economic reality.

Some hotels charge more than what is in the menu. They calculate that most customers will not counter-check their bill against the menu.

I have been a victim in two cases. Once you notice, the excuse is” the menu has not been adjusted,” and the manager is never there.

Ask further questions, the waiter will tearfully tell you, “I will pay the difference if you pay the lower price.” Rising cases of conmanship signify economic hard times. Such hotels are mostly in rural areas where the customers are unlikely to demand their rights. Will soon name them if they do not “behave.” 

The second economic adjustment is the return of baby nappies, which were replaced by diapers. Curiously, many call diapers Pampers, the name of the pioneering company in that industry. Just like any 14-seater matatu is “Nissan” irrespective of the model.

Mothers have figured out that napkins are recyclable and cheaper in the long run compared with diapers. Check out such napkins hanging out to dry in Nairobi’s not-so-affluent suburbs.

The third one is reducing the quantity and keeping the price the same. I have noted that with some brands of yoghurt, bread and sukuma wiki bundles.

Even food served on some flights has been reduced in quantity. Hard economic times do not discriminate, everyone suffers because of our interdependence.

There are many other economic adjustments, some ethical, others not. Kindly share your adjustments to changing economic fortunes.