It is no longer a news that financial noose has been tightened around the neck of Nigeria economy. Many have sad tales to tell. Jobs have been lost, contract opportunities had waned while free flow of cash is ceasing by the day.

Image result for Laughing in africa

For the first time in Nigeria Industrial Unions are bargaining with their employer to reduce their take home pay as an alternative to reduction in the work force capacity. Prices of items in the market assumed ever increasing graphical curve.

 

Job opportunities are reducing by the day notwithstanding  the ever increasing universities graduates. Many vocations are being overtaken by technological advancement.More hands are becoming idle.In a time like this there is the need for a CHANGE of attitudes and styles to avert being swept away by sudden economic tide.

Below are suggested changes:

1. If you are an applicant take the next available offered job even if it is below your dream job.

2. Buy only items that are considered as necessities. Postpone all luxurious articles till later dates.

3. Forget about living a life to satisfy others expectation at the expense of your purse, income or convenience.

4. Avert taking unnecessary risk in your place of work or business that has the possibility of making you loose your job or major client.

5. Be committed to your profession, Job or business more than ever before.

6. Re-evaluate your recurrent expenditure pattern like children school fees and effect necessary changes if found beyond your income line.

7. If you are blessed with many cars try and use those with less fuel consumption capacity. You may have to combine outings instead of members of the family taking different cars out for combine outings.

8. Except you can afford it, resist all aso ebi or color of clothes made mandatory by a person inviting you to a ceremony. Nobody will prevent you from entering the venue even with odd dress.

9. Avert social functions that will tell terribly on your finances in terms of distance and the content of the Programme. Why not just send 'envelope' to the organizer instead.

10. Let those asking you for money know that thing sare no longer the same: Stop pretending at your expense. Stop suffering in silence. When the chips are down you will be alone.

11. Notwithstanding any promise to the contrary, avoid lending money to anyone an amount which if you don't receive on time will hurt your financial stability. Many friendly loans will be irrecoverable now as many expectation will be dashed.

12. If you are a tenant living in a rented palatial apartment with many rooms left utilized, it is high-time you get a smaller accommodation.

13. Where the house is yours and most of your children are adult leaving you and your spouse in a big apartment with less than half of the house, quickly consider modifying the house into smaller units with the possibility of earning rental income.

14. Plan only on funds at hand, avoid permutations based on promise made by others. In a time like this, the promise may fail.

15. Where it is possible talk things over on phone with people rather than putting your car on the road for physical meeting. In addition avoid endless fruitless banters on phone. Be conscious of the call card cost and data usage.

16. If you have a large retinue of hangers on around you reduce the frequencies of meals.

17. Shut all lights that are not required in your house to minimize the energy bills.

18. Do more physical exercise to minimize constant requirement of drugs. Learn to trek short distances, it help to improve your health and relive you of avoidable small expenses.

19. If the regular food in your house is becoming dearer look for alternative. For instance yam is a substitute for bread in the morning.

20. If you will bear heavy responsibility in an event, insist on moderate programne in line with the amount you could afford.

I hope this article has open your eyes to some area where income could be better utilized, minimized and maximized.

Feel free to drop a comment below.

comments