10 Tips to Navigate Economic Hardship with Tech Skills

Dear Friend,

I was shocked to learn about the current exchange rate, with one dollar now equaling 1800 naira. This is a significant decline from just a few months ago, and it's deeply concerning for the Nigerian economy. The high inflation and stagnant minimum wages are impacting everyone, especially the middle class who rely solely on naira income.

Basic necessities like food, shelter, and clothing are becoming increasingly expensive, and the purchasing power of the naira is weakening daily. Hunger and depression are on the rise, and the social fabric is strained as people can't even visit friends without expecting to provide a meal.

This situation is complex and multifaceted, with various contributing factors. While experts have proposed numerous reforms, the issues remain unaddressed. Nigerians yearn for revival, but current efforts seem misplaced.

However, amidst the challenges, there is still hope. Here are some practical steps you can take to navigate this unpredictable economic landscape:

1. Prioritize financial resilience: Create a budget focused on essential needs like food, medication, and utilities. Track your spending, avoid unnecessary debt, and prioritize needs over wants.
2. Embrace a simpler lifestyle: Reduce lavish spending on social events and status symbols. Opt for smaller celebrations and prioritize community support and connection.
3. Leverage technology for savings: Explore free entertainment options, affordable online learning platforms, and second-hand items for essential needs.
4. Upskill for online earning: Invest in learning in-demand tech skills like coding, web development, data analysis, or content creation. Numerous online platforms offer affordable courses and certifications.
5. Explore remote work opportunities: Look for online jobs matching your skills on platforms specializing in remote work. Consider international openings for dollar-based income.
6. Offer freelance services online: Platforms like Upwork, Fiverr, or Freelancer allow you to offer freelance services like writing, translation, virtual assistance, or graphic design to international clients, earning in dollars.
7. Create and sell digital products: Develop ebooks, online courses, or other digital products and sell them through marketplaces like Udemy, Skillshare, or Etsy, reaching a global audience for dollar-based income.
8. Build a strong online presence: Showcase your skills and expertise on platforms like LinkedIn to connect with potential clients or employers offering international opportunities.
9. Stay informed and adaptable: Regularly update your knowledge about online earning trends and adapt your skills to cater to evolving market demands.
10. Network and build community: Connect with other online earners and tech professionals for support, collaboration, and access to new opportunities. Utilize online communities and forums.

Remember, building a sustainable online income takes time and dedication. Combine these tips with hard work, continuous learning, and a positive attitude to navigate economic challenges and create a brighter future.

Stay strong, and together, let's strive for a better tomorrow.

Please share your thoughts and additional tips to help others stay ahead.

May God bless us all during this difficult time.

Ubuntu,

Kamaldeen Kehinde