Without mincing words I'll go straight to the business of today which is the continuation of the part one of this article "Tips to survive the economic recession" if you missed the part one please endeavor to read it...very insightful.
Straight to the tips
4. Don't expect so much:
Economic recession affects every part of a country's economy and that in turn affects everyone in that country directly or indirectly, so as a person you shouldn't be expecting so much from friends and relatives, it won't be business as usual. Lending and giving power will drop drastically, those you're looking up to have just enough to barely take care of themselves and family.
Now, you've got to be more creative and get busy with your hands. Do something marketable, be diverse in your thoughts and start up a business to take care of your immediate needs instead of waiting for someone to sort your financial issues out for you.
Don't expect so much, get busy with your hands, be creative now than ever and add value to yourself and the economy.
5. Track your expenditures:
Put your daily income and expenses into perspective to eliminate excess spending.
Your income rate should in turn determine your spending rate. There must be a balanced synergy between the two.
There are mobile applications like mint and Google budget that you can use to track your daily finances or a simple ledger capturing your income and spending will be beneficial.
Instead of spending more we should actually save more now. This is not the time to change your cushions knowing that your financial power is not strong enough. Use them like that this Christmas and save your self the shame of not having moneys left for feeding yourself and your family.
6. Invest in your country:
For those that still have the financial power of going for holidays and buying some luxurious stuffs, why not do that within the country? Each time you go abroad for vacations you're only exporting your country's wealth and importing poverty. This is the time we look inwards and invest in our country, patronise home made goods, use our local airlines, enjoy your holidays back home, the honeymoon will be tastier here.
This is not the time to export the country's wealth, do your part to reverse the economic recession.
Invest in shares, experts says "stock prices fall during slowdowns, invest in stock whose performance is minimally affected by upward or downward movements in the economy".
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God bless you.
Much love from Jeff...😘😘
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