How To Survive Nigeria Current Economic Situation

Nigeria was hit with its worst recession in its history just two years back. Recession is a time of economic turmoil, unfavourable conditions for both businesses and individuals, for many it means hunger, malnutrition, poor standard of living etc. However, that does not mean that there are many who wouldn’t live their lives as if the recession never happened and I am not talking about those who travelled out of the country to escape the harsh conditions, but those who followed these 3 tips.

Below, I have listed 3 tips on how to survive in Nigeria’s bad economy and live as if the recession never happened.

Update Your Budget

Everyone has a budget, in which he dictates what he will spend and gain in the week, month or year. If have never made a budget before for your spending and earnings, then this is a great time to do so. You can simply place them in 4 categories: Expenses, Wages/Gains, Savings and Emergencies.

If you already have a budget, you should give it an update if you really want to survive a bad economy. In a bad economy, things become different, the prices of goods and services like foodstuff, transportation and accommodation rises and unfortunately, there is a high chance your salary might not improve, so you will have to spend more for what you budgeted less.

FOLLOW THE LINK TO CONTINUE READING AND PLEASE SHARE YOUR THOUGHTS http://nexusvibe.com/recession-in-nigeria-how-to-survive-nigeria-current-economic-situation-or-recession/