What is the value of HBD in my hometown
The price of one HBD Is currently 0.98 dollars and on crypto exchanges that's about 588 naira. Considering the fact it was around 400 a couple years back is truly remarkable. One may think that maybe the value of the dollar just rose a bit but that's not the case, the Nigerian naira Is fast losing its value. Things are getting more expensive daily and we've had to look for ways to earn more in order to meet up with the rising prices.
I am forever grateful to hive because it has given me an opportunity to earn in dollars and that has helped in at least keeping up with the hiking prices.
How much do I spend?
I am a single young man, so I do not spend a lot of money.
On a regular day I spend just about 4 HBD. I usually buy cooked food in the morning and evenings. Most mornings I buy Akara (bean buns) and bread. 1 HBD gets me a decent portion. I don't eat lunch most times, a few cheap snacks priced around 0.5 HBD and I'm good to go. Then for dinner I usually eat some food at a nearby restaurant. Most preferable swallow and soup for about 2 HBD. The rest is spent on transport fare.
I'm a very lucky person, I don't have to pay house rent because I stay in a house owned by my family. House rents over here can be decent or expensive depending on the location. In the north You can get a decent 3 or 4 bedroom apartment for about 250,000 naira (425 HBD) a year. While in major cities like Port harcourt and Lagos the exact same apartment would pass for at least a million naira (1700 HBD).
We spend an average of 40 dollars on electricity every month. I also spend about 10 dollars on data every month
How much do I need to have a good life?
Honestly, I'm not very good when it comes to drawing up budgets and all that stuff, but with the way things are now, an income of about 800-1000 HBD a month is enough to live a very comfortable life. It'll need to increase when I get married and have kids, but right now it is enough to live a good life.
Conclusion
The naira's value has been dropping really fast recently and the HBD has helped me, and is still helping me to at least keep up a little with the Inflation. And the raising of the interest rates to 20% Apr as well as the introduction of the pHBD-USDC pool where you can earn 40% Apr have been very helpful as well in making it more attractive.
It is quite sad that many people in my country do not know of hive because at times I wonder how they cope with the inflation. For this reason I am very grateful to be a part of hive.
Thanks for reading, this is my entry to @leogrowth's the value of HBD challenge.
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Point made @b0s ..well written 👍...
Thanks
As your hive power grows, you will spend more and freer)
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Indeed :)
It's great that you understand this).
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Great post to compare those numbers.
Interesting to see what the value of things are around the world.
Have a great weekend!
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Indeed it is. Thanks for stopping by, have a great weekend as well
Thank you so much 😊 you are so welcome 👋🏻
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Hi @b0s, you just received an upvote from @gotgame on behalf of https://hypeturf.io.
Hypeturf is HIVE frontend built by @gotgame where you can earn rewards on Hive by creating engaging content and commenting on posts.
800 to 1000 Naira would be enough for a married couple with kids here in my country to live a comfortable life.
Our rupee is also dropping and there is very high inflation which doesn't seem to stop. Because Hive pays in dollar thats why the conversion of the tokens gives us increased amount.
Owning a home is such a great blessing I know. When on rent, half of your earning is spent on it.
Mmmmm.... what if you cook your food yourself? Wouldn't it save you some money.
Your content has been curated by VYB/pob curation trail.
Thanks for using the VYB/pob tag.
Hahaha, I'm pretty sure you mean dollars not naira, right? For us a married man with kids can't live comfortably with that amount. School fees into quality schools, and food will cut short the budget a bit. Though he actually can, just has to be smart and maybe take one or two loans along the way.
I actually cook myself from time to time, but it's just so much easier to get it, Lol
!PIZZA !1UP
Yeah I meant dollars, not naira. 😂Hehe. School fees in quality schools take half of our monthly budget. And if the house is on rent, that amount won't be enough for comfortable life.
I am not sure what thing would define comfort. I think it is subjective and as our income increases so do our expenses. It is relative, isn't it? Well, in 800 to 1000 $ an average comfortable life can be lived where there is food on your table, the kids are getting quality education and you can have access to health facilities; provided you own a house and don't have to pay the rent.
I knew It hehe.
You are right comfort is subjective and the more our income the more our expenses. All In all we must find a balance and work with it. Thanks for your contributions.
!LUV
@b0s(1/1) gave you LUV.
H-E tools | discord | community | <>< daily
Yeah! Balance is the key for the healthy life.
My pleasure to come accross you 😊
I think having an income of around 1000 HBD is good in India too, maybe you can live lavishly in some parts of the country.
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It's good to know, thanks for stopping by code.
!PIZZA
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Please vote for pizza.witness!
1million naira for an apartment in lagos depend on the location, in my area you can easily get 3 bedroom flat for 400 thousand naira
Sounds like the HBD is helping you edge the decrease in your local currency. You seem to have a good plan set up.
!CTP
You can do something about that, start with telling your closest friends. Show them how they can offset the inflation. They are going to tell their closest friends, and this goes like a snowball if enough people talk about hive. I am right now in the works of setting up @hivebusiness it will connect hive users from all around the globe to show them where they can pay in $HBD we need many more use cases for HBD so if you know anyone who accepts crypto for, food, accomodation, rentals. Any local service. Please feel free to enter a listing.
I am sponsoring the listing price to the first ten to list in nigeria.
Sorry for the long comment !PIZZA
Came from listnerds by the way
Just read through what you're doing. I must say it's a great idea, I'll be sure to lead people your way if I get the opportunity.
It would be great to list as many hiveans who have services or goods to offer. You do not need to get out of the HIVE ecosystem and can keep most of your HBD in savings.
One could even negotiate and say hey I am gonna pay in 3 days when my HBD is unlocked. This way you still make a bit of interest.
Basically anything can be paid in HBD as well I repair your motorcycle, I walk your dog, I clean your car etc. the possibilities are endless!
welcome to listnerds my bos
I am glad to hear about someone using Hive to live. This would be a great case study. Thanks for sharing on ListNerds