How To Survive In Next Year (2016)expected Economic Hardship
It has been predicted that Nigeria may experience economic difficulties in 2016. I want economist in the house to pls come in and recommend what the poor and an average man can do to survive. Bellow is my recommendation:
(1) If you are an entrepreneur, invest in the area of basic need. E.g food, shelter, transportation, etc. Reduce ur investment in the areas of luxury goods. Even our big men will be affected because their dependency ratio will increase as a result of high unemployment rate. So if your job is still intact, don't re joys because many is going to depend on u to survive.
(2) Pay attention to DIY which means ''do it yourself'' you must not buy everything. You can provide some of ur basic need by urself. Do u know with little or no money you can provide for urself an orchard where u can have vegetable farm in your yard, do u know you can provide ur chicken, and so on. Before u buy any product or services, ask urself can I provide it for myself considering time and cost. My advice: do not buy what u can provide for yourself.
(3)Learn from the ant. It is know that the ant save during the dry season to eat during the rainy season. Reduce your spending. Pay more attention to ur basic need. Now is the best time to bring out pain and paper. Write down what u thing you need next year. Don't be carried away by Christmas song. Store or make a provision for food first, next is house rent but if u can pack in in your uncompleted building with little additional cost, pls do. Budget for ur transportation. If you have a private car, u can pick while going to work and when coming back to reduce your monthly fuel and maintenance cost, but do it wisely. Consider families and friend who will likely depend on u. Off ur appliances when u are not using them to reduce the cost of nepa bill, cut down your spending like partying and drinking.
(2) Start a home business with what u have: u can sell through ur window. If u have a home use deep freezer, load it with either iced block, cold drink, pure water, or even chicken and turkey, the profit can at least pay ur nepa bill. As earlier said, if u have a private car, pick to reduce monthly fuel and maintenance cost. If u ar unemployed or u are sacked from job, pls just inter ur house now. Look around. What do u see? Think about how you can convert ur property to business tools or equipment. U can use ur generator to charge phone for people in the night while it will still serve ur house. Ur can us ur television to start a game house, ur laptop can do online business, even ur phone is an assets.
(1) I may be wrong but I thing anything export is the best for now. Either good or service can be exported. Any business u do that u ar paid in dollar is the best for now. I think is this the little I have to offer. Note: there is also possibility of national crises in some state like kaduna. So u also need to make financial and security provision for that. Pls u can add ur own. It is not going to be easy, but God will see us through.
