It's No News That Nigeria Is In Her Worst Recession In 39 Years.

For Those Who Don't Understand What The Recession Means,



"Recession Is A Significant Decline In Economic Activities Across The Economy. "

If The Recession Lasts More Than A Few Months Its Impact Will Be Felt In GDP, Income, Employment, Industry Production, And Wholesale-Retail Sales.



In A Nutshell, Recession Affects Every Aspect Of The Economy And The People Most Hit Are The Lower And Middle-Class Earners.



It Looks Like We Might Not Have Detty December This Year, But, I Want To Tell You A Few Ways You Can Recession-Proof Prove Your Finances During This Period.



1. Cut The Cost Of Non-Essential Items: Now Is Not The Time To Waste Money On Non-Essential Items And Commodities.

Only Pick And Buy Essential Items At This Period.



2. Save More: You Need To Spend Less And Save More During This Period.

However, Don't Just Save For Saving Sake, You Need To Save On A Platform Where The Safety Of Your Money Is Guaranteed And Where You Will Be Given Interest On Your Money Instead Of Unnecessary Charges Deduction.



Investa.Ng Gives You A Weekly Interest On Your Savings.

Take Advantage Of The Savings On Investa.Ng .



3. Supplemental Income: Having One Source Of Income Would Be A Bad Idea At This Moment

Except Your Earn 1 Million Naira Per Month.

You Need To Ensure You Have Other Sources Of Income.

You Can Take Advantage Of Investa.Ng The Referral Package To Earn Extra Cash On The Side.



4. Invest: Investing Your Money Cannot Be Overemphasized But You Need To Be Careful

As Scammers Will Be On The Lookout Promising Juicy Return On Investments

So You Need To Be Careful Where You Invest Your Money.

Investa.Ng Investment Option Gives You 20% Return On Your Investment In 12months.



Let Me Stop Here For Today. We Would Be Communicating More With You As We Navigating Through This Time Together.



Remember " Tough Time Never Last Only Tough People Do".



P:S You Can Find More About The Savings, Investment And Referral Package By Chatting With The Admin Using The Link Below.

[url]Https:///2349014462443[/url]

Economic activities haven't affected badly in Nigeria, but the entire world is facing the same thing. According to the World Bank, the world is facing its deepest recession after the great depression of the 1930s. Though the news of vaccine preparation helped the international markets to get some support but in my opinion, it would depend on countries how they deal with this pandemic. For example, the nations who would defeat the cases early would able to resume their economic activities as compared to the countries who wouldn't consider this issue seriously.

However, if we talk about how we can cope with this recession, then serval ideas could be discussed here. I want to share my point of view here:

First of all, if you ask me what the best time to invest in stocks for long-term ventures and get more profits is then, I would say it is definitely a recession. According to the financial experts, you should keep investing in recession. Especially when stock prices are low, then you should invest in them. I also found this article https://www.amakella.com/stock-market-investing-during-a-recession/ very helpful to understand the pros and cons of investing in stocks in recession.

Similarly, if you are not looking for long-term investment and looking for a safer way, then you should invest in gold. Yes, gold is not only a single safe-haven, but in recession, it could be a better investment as compared to the stock investment according to the financial experts. Also, don't sell your gold in recession if the price is down.

Your emergency funds should also be in your hands in case you lose your job. However, this strategy could only be followed in typical days when you are earning good because it becomes tough to bank funds in a recession where everyone is losing jobs and facing losses in businesses.

In the same token, you should also rethink to reduce your spending and expenditures. You should give more preference to essential needs as compared to the luxury ones. This article https://www.fool.com/investing/2020/06/10/were-officially-in-a-recession-heres-how-to-cope.aspx also very helps if you are looking for the right strategies to cope with the recession.

I would also like to know your views on my ideas.

You are very right on what you have said but the problem here is not that Nigeria is in Recession but how do we want to overcome this recession if you do not have a different source of income.
So can someone tell me what are the reliable sources of income you can engage yourself in, in this recession?

Recession or no recession life in Nigeria will always get harder for low income earners.

creating multiple sources of income is the only way to survive.

ezylord:
You are very right on what you have said but the problem here is not that Nigeria is in Recession but how do we want to overcome this recession if you do not have a different source of income.
So can someone tell me what are the reliable sources of income you can engage yourself in, in this recession?

Though it is little out of topic but I strongly think Nigeria should sell end products instead of selling raw good because developed countries are taking advantage of it. Now, if I talk about the income sources, then there are still some opportunities to earn. First of all, in good days, we should make some savings or emergency funds for these tricky days, but I can understand it is tough for low-income people. However, I still believe we can still find several ventures to deal with this kind of situations. Like people start home deliveries of food and other items in this pandemic and earned much income. Some people did much work in online freelancing, for retail stores and online shopping companies and made handsome income.