Life is so worrisome for the employed, not to talk of the unemployed in a recession. Recession which is a period of temporary economic decline which both trade and industrial activity reduced can be quite frustrating and devastating. Lot of families go hungry, businesses collapses and even the government go borrowing.
In fact ,people in order to beat recession would be taking both good and bad economic measures like cutting cost and producing substandard products, laying off workers back into already saturated labor market and not forgetting making some take to crime and other vices while others diversify into other businesses to maximize profit and keep the business going.
The slogan ďtough time don't last only tough peopleĒĚ is not just a fancy statement but a fact. In every situation we should always draw strength, turn our lemon into lemonade and make our disabilities our abilities. Recession in recent time has become a global thing as such shouldn't be seen as epidemic only ravaging a section of the continent or only third world countries. No it is everywhere and as such we should buckle up.
Research as showed that most nations comes up stronger after a recession, so no nation should be an exception in a positive turn around in and after a recession. The gospel truth is that the bulk of the job rest solely on the citizens of such nations.
Have you been struggling in this recession? Or you have needed practical approach to deal with this economic problem, and then search no more. I will be outlining practical approach of coping financially in and after a recession and the approach require little or no cash. So read on.
ACTION NOT WORDS
∑ This factor is the ultimate factor in this write up, it's like the air we breathe. You can't beat a recession with folded hands and mere words unless you talk for a living. Lot of persons lives in limbo of just thinking and talking of a way out and not actually taking action. Like myself, I thought about writing on this topic yesterday and today you are already reading it. That is action in motion. Don't be the world best just in your head, don't be that young millionaire just in your head.
∑ You have become a freelance writer, a web designer, a renowned blogger and inventor all in your dreams. Talk is cheap, so take action now and see you beat financial constraint even in a recession. The good news is that some people lifestyle hasn't changed even in this recession, why? Because they are taking action. Take yours. THE TIME TO ACT IS NOW.
DOUBLE YOUR HUSTLE OR FINANCIAL STRUGGLES
An age long adage says you can kill two birds with one stone. This is quite true. There is always something you can add to your main source of income. Are you a teacher, you can also add snack selling at school to teaching. Are you a computer operator? You can add freelance writing to your source or Are you a stay at home mom? You can stuck up your freezer with drinks and water and make some money in addition to your house keeping allowance. The bottom-line is you would be adding streams of income to your main source of income. Definitely you would beat the almighty recession.
BE A WORKING HAND
∑ The good book says God will be bless the works of our hands and whatever our hands findeth to do, we should do it with all our might. Please never despise your days of little beginnings. know that all your certificates and degrees will not put food on your table without you working with them but most importantly if you can't find an immediate job in your chosen career, please pick up other jobs ,no matter how small or menial they are. Your bills will thank you for them, when you are able to pick them.
∑ Don't prefer to be idle with all your portfolios and certifications engage yourself in any small job while still hunting for the big ones.
IDENTIFY YOUR SKILL TO ADD VALUE
∑ Recession is no respecter of anybody it affects both the skilled and unskilled. So not having a formal training is no excuse to take to crime in a recession. Identify your skills and god- given talent. Hone them if need be or you can use them in its raw form.
∑ Can you sing to make money then go ahead, are you good with hair making then commercialize it, and are you good with words, then sell other people product, and create awareness of people products for a fee. Can you run errand for people for a fee, then don't hesitate to run for a fee and so on. You could make your millions with starting your own business. So follow your dreams and aspiration or you will spend the rest of your life working for someone who did.
TAKE ADVANTAGE OF ECONOMIC OPPORTUNITIES
∑ During recession most people tend to sell off their stuff due to financial crunch and at relatively low price too, you could take advantage of this and build wealth in the process. You can actually buy these things now and store them, which you can later convert to cash in future or keep them for personal use. i don't see the need of holding up cash in a reserve or bank in a recession it doesn't make much of economic sense.
THINK OUTSIDE THE BOX
∑ Don't always conform to the norms; there are one and thousand of unsolved problems out there. Think out the solution and add creatively to it and make your money .better still you could still solve already solved problems but in a better way, look around you but do your own thing differently. Example before now we had vhs for recording movies, then came the compact disc and on to VCD and here we are with cables running movies nonstop, people hardly buys movies again. So we have different product doing the same thing. So write to stand out and don't blend in. if you are a writer? You could have your own style of writing; act your movies as an actor differently. The bottom-line is put your creative energy to work and make money even in a recession.
Conclusively, invest in yourself for a better life during a recession. According to a renowned economist, Adam Nick Opined that wealth building is not only about investment in company and savings but bringing out the best in one's self. So during a recession attain much financial freedom seminars, do financial gains research, attends retreats and workshops and other opportunities to sharpen your skills and advance your money making ventures.
How have you been fighting recession to stay financially afloat? Please share with us in the comment section.