The economy is a wild ocean; sometimes it is calm, and other times it roars and swallows everything on its back. Our need to consume things, some basic, necessities or, others luxuries leaves us with no choice but to spend money(medium of exchange) to obtain them.
When there’s not enough money in our pockets we borrow. That is true to individuals as it is to nations. The borrowed money automatically becomes another liability on a long list of ‘unpaid items’. Then we decide to double our efforts and work harder, sleep less, socialize less, enjoy less, and eat less(austerity for nations).
Whichever the case, individual or nation, due to your never-ending needs, you become trapped in a cycle of ‘earning to pay’. Then here comes the big problem, the economy fluctuates not in your favor. There comes inflation or a recession.
When prices are too high for your planned normal budget, you realize one important thing; life comes down to survival. And survival comes down to basic needs. i.e. food, water, and shelter.
Secure your basic needs. Put them first at the dawn of your career
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— NIPE PESA BUSINESS MAGAZINE (@NipePesa) January 30, 2023
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