Surviving The recession

Photo credit: TheWill 0 September 12, 2016 By Dang

1. You need to get a grip! Don’t get paranoid like everyone and assume the world is falling apart just because you have an irresponsible government. Take a deep breath, don’t buy into the nagativity , then start thinking rationally and calmly. You’ll begin to see opportunities where others don’t. The more positive thinking you are, the more positive opportunities you get

2. Aside from your regular 8-to-5, take on a part-time job in order to boost your income. It is time to turn your knowledge or hobby into a money making venture. For example, if you are an accountant, you can teach secondary school kids accounting on weekends. Parents will take you over any regular lesson teacher any day because they feel the value is higher at the same time they are paying less. The more students you teach, the more money you make. If you like to cook, have cooking lessons for kids/ teenagers on weekends. Their parents will be happy to have them out of their hair for a while

3. At this time, people have become more sensitive to what they receive for their cash. If it’s not adding extra value, People are willing to do away with it. So whatever you do, as much as you can, maintain your value and drop your prices. In a recession, half is better than none

4. If you have cash now, invest in things that’ll generate daily/ monthly cash flow. Like car wash, Gas retailing, buy a house to rent, buy high tech cameras and props to rent out for movies or music videos…

5. To save money on food, start growing your own food in your back yard, abandoned lands, family owned lands, etc

6. I cannot say this enough, live within (if necessary below) your means. Check for sales, buy old season clothes, watch your electricity usage, stop paying for Aso -Ebi , stop borrowing cash to people who have a habit of not returning

Guys, This is not the time to speak big big grammar and be proud. Make new friends, latch on to opportunities when you see them and most importantly, track your finances. START NOW…PLEASE

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