This is a good time to redefine your Financial Management approach.

As the weekend is already upon us at this moment when the purchasing power of Nigeria's Currency is taking a huge hit in the international market, this appears to be a really good time for us to redefine how we spend the very little cash we have at hand.

You know, one of the things we all can agree on is the fact that as far as we are hale and hearty, it will be close to impossible for us to experience a shortage of needs or wants. They keep coming and when we satisfy one, more come to take its place.

Considering the current situation of Crypto, it has become more obvious that it will take a great deal of financial management skill for people to survive this daring moment without dipping their assets.

To be on the safer side of this Economic situation, these will come in handy;

1. Cut down on your expenses

It's not just enough to cut done on your expenses, you genuinely need to reduce them to the bare minimum.

I was planning to buy a Camon DSLR camera this month and the Crypto I was supposed to trade to run these expenses (though I can make a case for it being an investment) is available and sitting in my wallet, but selling a high unit of Crypto at this moment will be a really bad idea. I can't even start to imagine the type of loss that will come from that.

I've decided to delay the project I planned to establish with the camera. If the Crypto market moves up, I will gladly make the transaction and run the expenses. If not, I will hold onto my asset until further notice.

2. This is a bad time to cash out

Seriously, what are you even trying to cash out? It's easier to cash out if the value of what you are holding has been at a low point for a long period.

But, in the case of Hive (which is a perfect example here), the price just dipped within the last 48 hours. Any move to cash out Hive now would count as a very poor financial decision except if it is the last resort. Even at that, I can only imagine people in such a situation, cashing out with teary eyes.

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We are keeping it simple. It's going to be hard to stick to these and I know this because that is exactly how I have to live as far as this Crypto dip is still on. But, it's worth sticking with these.

In a nutshell, the way to survive this period of Economic chaos and Crypto dip is to cut down on your expenses and avoid cashing out on your Crypto at such an undervalued moment.

For tbe record, this post is clearly not a financial advice.

Thanks For Not Missing Any Full-stop Or Comma
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