Five things you should NOT do now that Nigeria is in a recession
Now that the Nigerian economy is in recession, here are five things you should NOT do.
1. Take on more debts:
Debt repayment can be extra stressful and a burden and can bring financial strain especially during a recession.It is advisable not to owe debts.
2. Live above your means:
It is time to cut out wastage and extra. Don’t purchase what you don’t need. Try to cut cost as much as possible
3. Take your job for granted:
During recession, organisations even large ones come under financial pressure.When this happens companies will cut jobs as a means of saving money. Employees should generally try to do all they can to make sure their employer has a favorable opinion of them.
4. Stick to one job, if possible:
Aside from your 8-to-6, which is the normal time you work in a day, it is time to take up part-time jobs in order to boost your income
5. Spend arbitrarily:
Now is the time to have a strict saving and budgeting routine.That way you can have enough to fall back on in the case of an emergency.
