First and foremost let us consider what recession is all about. According to the advance English dictionary, recession is a difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed:
Looking at the above up write up on what recession is all about, we will now focus on what you should you should do to avoid being a victim of the economic recession; let us looking at the following write up on what we must do to save our lives and that of our family to enable us save more that will help during this period.
1. Buy what you and not what you don’t need
It is said that” if you buy what you don’t need ,you will end up selling what you don’t need to buy what you need”; stop buy the things you do not but rather buy things that you need ,for these will go a long way in tackling the issue of economic recession in one’s life.
2.Reduce Or Avoid Your Rate Of Alcohol Consumption
For those us who patronizes mama amaka isiewu and bar knows what am talking about. After ordering
four plates of isiewu and five bottles of beer for seven days a week, you will be surprised how much you have spend out of your pocket. To save more in these “ember” you need to reduce this.
3. Make A Budget
Make budget of things you will need to buy through- out the month and these could include things like food ,clothing and lots more. Make budgets of bills that you must pay. These will enable you know how much you need to spend this month.
4.Spend More Time With Your Family
Instead of going to those places that doesn’t favour you, why not spend that quality time with your loved ones? This will go a long way in your financial saving and will also reduce the costs of your expenses when you don’t go to irrelevant places you will not spend much.
5. Always Pray For Wisdom
Yes, always pray to GOD for the wisdom to manage your finances ,and also to live a life that will better the lives of people around you. Remember that instead of being a nuisance, you can be a problem solver in the community in which you find yourself and never forget that living the life requires sacrifice.