₦airaland Forum

Wuessey:
1. Last Friday, the US dollars exchanged for 503 Naira to a dollar officially.At the black market the story was 1$ to 520Naira.

2. The immediate impact was to trigger inflation nationwide. This inflation means that every money you have in your account has automatically reduced in value.Its purchasing power is greatly reduced. This creates a lot of tension in the country. It increases crime rate, prostitution, kidnappings etc.

3. It also means that the middle class will shrink further as a result.

4. Experts fear that by the end of 2021, it might get to the point where we have 1$ exchanging for 1000naira.

5. That means that our economy is officially in a bad recession.

6. This is not the time to mourn but to prepare. We must be prepared for anything.

7. If there was ever anytime to be economically informed, it is now. Do you have a savings habit? If you don't, you might be in serious trouble. Last ten years was the best time to start savings. The next best time is today.

8. When I talk of savings, I am not talking about dumping money in the bank. Save money in any thing that can increase the value of your money overtime.

9. Invest in hard currencies like dollar, Euro, Pounds.

10. Invest in real estate if you can

11. Invest in Chymall

12. Multiply your income sources. Diversify. Target at least 7 to 8 sources.

13. Invest in cryptos

14. Start drop shipping, email marketing, etc

15. Start Affiliate Marketing

16. Start doing as many things as you can eg. Farming,

17. Acquire more skills

18. The time is coming when three full time jobs may not be able to take care of a family of 5.

19.Develop yourself spiritually and let God help you.

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