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Ways to survive during a recession

 



Ways to survive during a recession 

First of all, let me define what a recession is in a lame man’s understanding. Recession is when a country’s expenditure has passed its revenue meaning that there is no more money in the countryside account to carry out some certain responsibility and so might has to take a loan from a country or world bank to be able to get back on their feet.

This is when things are really difficult for the country.

For an income earner it when your expenditure ( money leaving) is higher than your income.( money coming in).

Recession can happen to anyone, country or company. When there is a recession in a county, the price of goods go up or there might be a shortage. This is when demand is greater than supply. Things,  food are likely to become scares and if they are available,  it will be very expensive.

In fact, the competition becomes high as some traders are likely to sell high while some are likely to sell low just too make money.

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As an individual, you won’t say because things are high you cant buy. You must where cloths, you must drink water, you must eat. So theses necessities  must be bought irrespective of what’s going on in the country

Recession isn’t the end of the world. In fact, it makes a business stronger. It’s just a phase that will surely pass no matter what. 

In an oil-producing country like Nigeria where the demand for fuel is high, almost everyone uses a generator to light their house. When there are a recession and the process of fuel rises, most people will stop using their Generator. I mean, it doesn’t male sense to buy fuel tabs very high price and still, NEPA doesn’t bring the light.

In Nigeria, citizens suffer the most when there is a recession. It’s only God that can save his people.

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