OVERCOMING FINANCIAL STRUGGLES AS A YOUNG NIGERIAN ADULT

 What Is Financial Struggle?

 Financial struggle is a condition in which a company or individual cannot generate sufficient revenues or income, making it unable to meet or pay its financial obligations. This is generally due to high fixed costs, a large degree of illiquid assets, or revenues sensitive to economic downturns. For individuals, financial struggle can arise from poor budgeting, overspending, too high of a debt load, lawsuit, or loss of employment.

     OVERCOMING FINANCIAL STRUGGLE AS A YOUNG NIGERIAN ADULT

         As a youth you need to make a financial because financial planning determines how much you need to earn, save and spend and also how to invest, in order to overcome struggle in a country like Nigeria

    WHY DOES IT MATTER

Financial planning matters because it gives you an edge in life, it helps you manage your income, avoid debt and save yourself from unforeseen circumstances especially as a youth in Nigeria.

      LET'S TALK ABOUT THE ISSUES OF FINANCIAL STRUGGLE IN NIGERIA

              First of all, the economy is a problem, in a time when more young people are in the job market than ever before. There are fewer spaces in the workforce to find ourselves in after school. Second, even when we get those places, promotions and raises are not assured. Neither is job security; in a time where competition is the hardest. We have to compete with many older individuals who have longer tenures and many more years of working experience and qualifications behind them. In essence, young men and women today don’t have the safety net that years of savings and hard work used to afford our predecessors. We don’t even get the chance to earn those years of experience. We have the qualifications, mind you, but our trajectory in our organizations will be static for a long time.

              With all of these issues in Nigeria as a youth we need to make a financial plan and here are few tips on making financial plan;

1. Know where you stand.

2. Set your goals. 

3. Plan for the future.

4. Always review your financial plan.

      Making research and following the few tips is a good step to making financial plan and and solving financial struggle as a youth in Nigeria. 

NAME: MUMINAT HAMIDAT SULEIMAN

STATE CODE: OS/22C/0482