One Vital Skill The Recession As Taught Me

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Cost management.

The current recession has taught me how to better allocate resources. It has sent packing all impulses to buy something fancy or make an emotionally driven purchase. I have managed to save more and spend less this year than in any other year.

The first category of expenses to go was my Amazon and eBay purchases. No more buying of drones, IoT gadgets, fancy electronics and books. The second category was my clothes and shoes. I now stretch out more life from them. No more shopping on Hawes & Curtis website. No more bespoke trousers. No more buying two shoes in one day.

My online MBA got axed too. I stopped letting its emotional appeal get to me. It was easily to see that I had learned all I needed. It was time to move from strategy to implementation. And it saved me lots of money.

I began spending more and almost only on my business. I fixed my power problem permanently. Had a solar, battery and inverter installed that once served me for three weeks of no PHCN electricity. I finally published the hard copies of my book which gulped a lot of money upfront. I had new sets of business cards made.

I am also doing a lot more investing into coming up with a product I can sell en masse.

I have put on the back burner the plan to relocate to Gbagada and fixing the accumulated bashes on my car.

Most importantly, the recession has greatly reduced the peer pressure that makes cost cutting look like I'm regressing.


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