This topic has been bouncing around in my head all week. So, I'll just write the vision and make it plain. Last night, I learnt the dollar is now 419 Naira. Nigerians know what the number "419" stands...Frankly, that's how I feel about the whole "change" charade but let's not dwell on that.
I'll like to share a few tips that can help minimize the hardship being experienced in this economy. Please feel free to share your tips too.
1. Track all your expenses and identify opportunities for cost savings. Look at what you spend and justify every expense. Check if you can get cheaper rates elsewhere without compromising on the utility derived. Ask yourself if you can't actually do the task yourself. I hand wash my clothes (if you don't want to, don't mind me jere). These are the practical benefits I get from hand washing.
- I save the money I would have given someone else to help me wash them or the money I would have paid for the electricity used for a washing machine.
- I get to spend the time meditating and getting inspiration and sometimes answers for pressing issues.
Erm, if you're too busy for hand washing, do what works for you o...
2. Increase your streams of income. Think outside your job. Find something legitimate you can add to your hustle.
3. If you're going to invest in a business, do your due diligence. If it will rely on human beings, make sure the Key Performance Indicators (KPIs) are set such that they have more to gain if the business succeeds. Some businesses pay their agents commissions on completed transactions (the orders that have been paid for). If you're just starting up, consider getting freelancers instead of full time staff and set milestones after which they'll be paid.
4. Don't spend all you earn. Set some aside and invest for the future. Don't put all your eggs in one basket though. Diversify your portfolio. Be careful, though, with investment opportunities that offer unrealistic return on investments (ROI). Also, ask about the goods/services that the business is involved in. If there is no product or service involved, it is a Ponzi scheme. Forget all the IPads and cars they are promising you. They are exploiting the universal nature that desires great benefits with minimal efforts. That's what happened with Wonder Banks. Don't be a victim.
5. Look out for referral programs, coupons, promotions. Use your social media presence to your advantage. Don't just spend time online looking for who to shade or sub. If your cause isn't saving or earning you money, please find another cause. You can join our Professionals Without Borders group to learn about Deals and Opportunities around you.
6. I am a believer so I'll add this point. If you don't believe, please feel free to ignore. God takes care of His own, even in famine. God told Elijah where to go when there was famine in the land. Elijah did as he was instructed during famine and he was preserved. These days, we have to ensure that our fellowship with the Father is tight. He will lead us aright. Also, be careful with "propheliers" that will come up with many "visions" that will rob you of your money and leave you destitute. Some of them are in suits o... They are just like the wonder banks but they are feeding on the fact that you have refused to grow up and study for yourself. Grow up so you won't be tossed to and fro...
Let me stop here before I start preaching. If there are more tips you'll like to share, please go ahead. Enjoy your day.
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