Five Ways To Earn Extra Income In This Reccession.

Reality has set in for a lot of people, and yes no one is asking if Nigeria is going to be in recession anymore, the new song everyone is singing iswhen and how do we get out of this recession.
For business men and women within the Nigerian society, they are gradually adjusting their businesses according to the direction of the recession. You will be suprised to learn that some businesses are making huge profit from the present economy due to their previous business forecast which has turned to be financially rewarding for them in the present economy.

While some businesses are shutting down daily, so many salary earners are having the worst times of their lifes, which can be attributed to the fact that so many cases look hopeless in the face of the recession. Nigeria is not the first country to experience recession,but in truth we are badly hit by the recession because our economy is solely dependent on Oil and the dollar drives a major aspect of our economy.

I've seen so many people complain of hardship in this present times, and how difficult it is to cope, but today, I will be sharing with you tips on how to survive at this crucial time if you live in Nigeria or any other country where a high percentage of the citizens live from hand to mouth.

That said, here are 5 ways to stay afloat and earn extra income while you still have a job or a business you run or even if you are totally jobless at the moment.

Start Blogging

There are a zillion and one bloggers in the world today, but what makes them different from each other is their style and niche they have created for themselves. Blogging is not as easy as many people may think, it takes a lot of thinking and alot of research to be a great blogger. But if you are that person that spends virtually3-4 hours of your time online getting relevant information or just loving the glitz and glamour of social media, then you should consider starting your own blog to make some money for yourself.

Starting a blog is as easy as 1,2,3. All you need to do is have an internet access, a laptop, choose a free blogging site like Blogger or Wordpress  for starters, or you may choose to purchase your own domain name and pay annually for hosting. 

Once you get started, choose your niche and start creating amazing contents for your readers. The great thing about blogging is, there is always an audience for what ever you want to discuss. People are ready to read and learn, so be that person impacting knowledge to the world.

Bloggers make money from a variety of sources, it could be through a sponsored post, direct advertisement, affiliate programmes, google adsense, sponsorship and a whole lot of other ways, depending on how determined you are and how connected you are to your audience.

Advertise your Products or Services Free on Social Media

Just like a blogger uses their blog to express themselves and make money, you can also make money from your social media page. People are making a lot on money advertizing their products and services on all social media platforms. Dont look at social media like a fun place to just make friends only. Some people started their businesses on Instagram and Facebook and have become store owners today starting with this medium. Your ability to convince people that your product is great depends on you and your repeat customers, who in turn helps you to promote your business on their own social media handles. These days, the best form of advertisement are free! No matter how little your business is, believe me all you need to do is trust what you have and sell it to the world.

Sell Your Own Information Product

If you are a guru in a particular field, please dont keep all this knowledge to yourself. There are thousands of people out there who want to learn what you know. Connect with your audience online and through word of mouth . You can create an e-book or you-tube videos. post online and by doing so you are selling valuable information on a specific thing you know so well, that will in-turn  help the next person, Alot of people make money from e-books and youtube videos in Nigeria. just google Nigerians making money on youtube and you will be amazed at how much money your knowledge or talent can bring you.

Join a Review / Survey Website

I know that review and survey doesnt really have an online presence in Nigeria, but all the same you can still make money from review/survey websites abroad. All you need is a paypal account to get your money paid into. Please note that there are alot of scams out there, so it is very important to research about the website before you join. Some people have products they want people to review for them for a fee. Although you may never make millions of money from this, but atleast its a good way to earn a few $100 s from time to time. 

Content Writter

If you love to write and all you do is write short pieces and keep in your journal, now is the time to connect to websites such as  Funds for Writers, harness your writting skills and you could be making as low as $50 which is approximately about N16,000 if not more for just a write up. You could also write for other bloggers,magazines and newspapers and you get paid fast.

Please note that you can do any of these at your own time, and earn extra income. Rather than sitting down hopelessly and doing nothing to change or improve your present situation, these are fantastic ways to have a side hustle that wouldnt require you to spend your savings.

So goodluck!

Attending a Job Interview- Dont Put Yourself in a Box.

 When attending a job interview, most people always think of what to say to blow the interviewer away, just so we get the job. In your mind, you become a high flyer when it’s time to sell yourself to the panel of HR specialist and Top Management Team conducting the interview, you start reeling out your best rehearsed achievements in your field of specialization.

Pic Credit: Boston.com

When attending an interview, apart from researching about the company, you also need to research on the internal structure and staff welfare package of the company. These, will guide you better if asked the almighty question about salary expectation. Because this question could either make you settle for less or make you scream Hallelujah!

In most cases, while Mr. B's answer seems very apt, in reality it is not any better from Mr. A's response. You want to know why? I will tell you why from my own personal experiences over the years.

So you nailed the interview and you also got them to pay you within the salary range you requested for, let’s say maybe N1M per annum. You dress nicely to pick up your employment letter, which states all the additional benefits, like housing, utility, entertainment, transportation, bonus etc., and then your heart is beating so fast with joy and you can't wait for the resumption day to come, so that you can prove to your employer they made the right choice.  Fast forward to one month after the job, and you get that first credit alert you have been waiting for, then the true reality sets in. Pension deducted 8% that is employee, tax deducted between 10%-20% of monthly gross (you are on your own is the company is tax compliant), Bonus of 3% to be paid at the end of the financial year. Congrats Mr. B, your take home has now become your night mare because you negotiated your Annual Gross Income only. 

The scenario above has happened to practically everyone I know living in Nigeria, especially within the Lagos Metropolis. I know you are nodding your head now in agreement to this scenario. So what is the solution and way out of this reoccurring event that has played out in most of our lives?

You are welcome to the new Nigeria, where you have to always dot your i's and cross your t's at every given opportunity. When next you are asked that very important life defining question at an interview, all you need to do is to be very specific and in clear terms negotiate your take home, that is your Net after all deductions. The Gross they arrive at, is the company's cup of tea and not yours. Whatever deductions on taxes pension or just name it is their cross, as long as they are able to pay for what you have requested for on a monthly basis, and then both parties are fine. In most cases we like the sound of the Gross pay, because it’s round and bogus and sounds pleasing to the heart and soul, but in reality, the shock that comes with it, will leave you speechless for the next couple of months, and instead of you to settle into your new job, employees begin to plan the next move.

Don't get caught up in those fancy packages, they are mostly deducted from your Gross pay, the next time you are asked the salary expectation question, remember to talk about your take home(Net earnings) in clear terms.