sharing life's secrets to smart people.

Thursday, 3 November 2016

How to Survive On Your Little Income during This Recession.

Let us not deceive ourselves and think that it would be easy for any low income earner to survive this recession without extra effort and without making some very important changes and adjustments in our Spending habits, these are some of the adjustments and changes that we just have to make to ensure that we are able to survive this Recession even with our little income but even with all the plenty advice only the wise will survive.
         Do not even think you are the only one that sit up at night wondering how you would manage to survive the next few weeks in the month before your next pay, I have been there too and with my years of experience I have drawn up the perfect formula that will help you survive this economic hardship in the country no matter what you earn, just read and watch me show you the way like I have always done.  some of you have made target to save so so and so amount before the end of the year, for some it is to buy a brand new TV or Mattress, well the year is almost gone but some of you can still achieve your Goals but if you don't then don't blame yourself it was a very hard Year.

Step 1. Accept and praise Baba God for your condition. Whatever you think is too little there is someone out there with less or nothing, whatever you think is too small for you, there are people out there wishing for half of it. so be contented because that is the first step to self sufficiency.

Step 2. Start making serious changes and adjustments to your Spending habits. The next time the thought of buying something you don’t really need cross your mind try to first of all calculate the better things that you can use that money for, e.g. food, transport and other things that you know you can't do without. You can do without eating fresh banana on your way back from work, or other snacks that normally takes your small changes that you could have used for transport to the office the next day or to buy tomatoes and pepper to cook a proper stew that would last you for between 2-3 Days. So don’t spend money on what you want, spend it on what you need that is the secret to surviving this recession.

Step 3. Have a spending plan (Budget). Draft out a list of things that you need and you know you can't do without. It should look like this:
Hygiene products
(soaps, creams e.t.c) add other basic necessities that applies to your own situation as everybody's life is unique and different, but try to make the list as short as possible remove anything you know you can do without. Then try to calculate the amount of money that these things would cost you in a month, after calculating it you will realize that there is little money remaining to do any other thing, yes.
 That is because these are the main things that should be taking your money and there is even hardly enough money for them so if you now take the money you should be using for these things to buy recharge card to be calling that girl you met in a bus while coming from work or to be discussing about yesterday's football match on the phone with your friend, then expect to go broke(run out of money) before the month ends and that would end up with you asking your Boss for an advance on your salary before the end of the month. ask yourself you couldn’t even finish one month with full salary what would happen to next month if you take an advance on your salary and spend half of it this month? So focus on spending on the things in your budget if there is extra money after spending on the important things on your budget then you can use them for other things.

Step 4. Hate and avoid wreck less spending. I decided to add hate to it because that is the best way to avoid it. When you hate something you won't want to do it. After I started hating wreck less spending, I was in a bus one day when a young university guy was paying bus fair for some pretty girls in the bus and I wasn’t impressed I just hated seeing a young man waste the money that his parents are sweating for, I told myself that I was sure his father and mother that gave him the money won't pay the bus fair of strangers just because they want to look cool. Humility is the key. You are going to a dinner and you know it would cost you more to take a Date (partner) then try to go alone (that is if you must go) take a bus to the venue don’t take cabs there is nobody to impress this days even the rich are suffering from the recession, so just take a bus and save your money. Don’t try to impress people with your hard earned money because it is impossible to impress people, if you buy a 24 inch TV they will tell you that their friend has a 32 inch TV get a 32 inch TV if you want to keep buying to keep up with their mouth, very soon they will tell you their friend owns a cinema house, funny thing is that the people that behave like that hardly ever have their own it is always somebody's own that they are boasting about, so forget them and just live your life.
 Always negotiate(price) properly before buying anything to ensure that you do not end up paying more for less, as a student or a worker, you owe yourself the duty of verifying the correct price of anything you want to buy and negotiating till you are sure you are paying the right price for whatever it is you are buying

 Step 5. Try to avoid spending when you can. Don’t be too quick to bring out your wallet or put your hands inside your pocket when you go out with friends or you are at an event. Allow those that want to "show-off" to do all the payment, good for  them nor even let am border you. Try to hardly use the words "keep the change." sometimes people use this to show that they have too much, avoid it. In this present Nigeria nobody have too much even the President is looking for money to borrow, all those young men you see in clubs popping Champaign and ace and whatever drinks they drink this days leave them, if they have too much money then good for them, only tomorrow can tell, but one thing that is sure is that even if you give billions to a wasteful person that person will waste all the money and start saying " I used to be rich", so avoid wasteful people.
Don't spend your necessary cash on useless things
otherwise, things like this will happen.
  There are places that you can walk down to instead of wasting money on transport, do that anytime you have the energy and strength to; especially during the evening period when the sun is less harsh you will be surprised at the amount of money you would save at the end of the month from doing this.
   Instead of spending money on food from a restaurant or on snacks for lunch at the office, try waking up early to cook and place it in a good food flask and take to the office, thank me later, that would save you a lot of money that should have been spent on buying roadside food and junks like snacks and soft drinks.

That’s  it oh my people, you live your life like this and at the end of the month people earning better than you will be asking you for money.