Walter Okpala: How can one deal with economic cycle?

Walter Okpala: How can one deal with economic cycle?: A question that always appear is: how can one deal with the problem resulting from economic cycle? In order to answer this question, let us...

How can one deal with economic cycle?

A question that always appear is: how can one deal with the problem resulting from economic cycle? In order to answer this question, let us look at another phrase. Is it possible to prevent the inevitable? How can one deal with the inevitable?

     The only way one can deal with the inevitable is to plan ahead and prepare for the worst. The main problem people face is the addiction provided by capitalism through unending pleasures of life. The pleasure involves the desire to have the best life can provide. As a result, many people do not think about tomorrow even if the information is readily available to them. However you may tell people that the economic boom may not last for a long time, only a few will take it serious. 

     Satisfying immediate needs does not allow many plan for the future. Dealing with bad economic cycle is nothing but preparing for the worst situation. That means saving during the booming period to use during recession. There is no miracle. One can only achieve what he or she desires by making sacrifice. There must be a tradeoff. Think about this!  

Walter Okpala: How are you navigating through the present economi...

Walter Okpala: How are you navigating through the present economi...: There is always a question that many ask. How is one navigating through the difficult economic time? It is important to know something abou...

How are you navigating through the present economic scenario?

There is always a question that many ask. How is one navigating through the difficult economic time? It is important to know something about what economists call the economic cycle. Every now and then, the economic activity of a country or the world oscillates from going down to going up or vice versa. This oscillation is called economic cycle. What it means is that no economy can grow or fall indefinitely. This oscillation is more often now than ever because of the inter-dependence of the world economy. No one country's economy is isolated anymore. So, what affects one country automatically affects the others too. 

     In view of this, people should protect themselves against the economic cycle called economic slowdown or recession. The problem is that many people do not understand this mechanism and therefore, are taken by surprise. So, how are you navigating through the difficult economic times should turn into "to what extent are you prepared for the economic scenario"? Think about that!  

  

Walter Okpala: What is your plan for the 3rd Quarter?

Walter Okpala: What is your plan for the 3rd Quarter?: What is your plan for the 3rd Quarter? How are you executing your plans? What are your priorities?

What is your plan for the 3rd Quarter?

What is your plan for the 3rd Quarter? How are you executing your plans? What are your priorities?

Walter Okpala: Preparation for the end of the Q2

Walter Okpala: Preparation for the end of the Q2: Let me just remind you that the second quarter (Q2) is just coming to an end. What have you done and how has your been executed at this poi...

Preparation for the end of the Q2

Let me just remind you that the second quarter (Q2) is just coming to an end. What have you done and how has your been executed at this point? You should be prepared to assess yourself. Remember that there must be short-term, mid-term, and long-term targets which can be measured if you really want to be successful. How have you fared?

  

Walter Okpala: College Education and the expectation

Walter Okpala: College Education and the expectation: In my last post, I asked some questions regarding college education and the return on investment. There is no disagreement as regards to th...

College Education and the expectation

In my last post, I asked some questions regarding college education and the return on investment. There is no disagreement as regards to the importance of college education. However, there is a discussion about how much in investment or the level of debt one can contract. Secondly, there is a debate on how college education can be directed in order to obtain the best result.
     One of the recommendation is that college education should be taken as an investment. Taking it as an investment implies setting well-defined goals and working towards them. College education should serve two purposes. One is directed at having knowledge and the other should be to make your living. These are the things expected of a college graduate. These expectations can only be met if there is a well defined target set before the study.
     It is common to see many people with college degree who satisfy the expectation of knowledge, but cannot make enough to live. Sometimes, you see people obtaining college degree in three different areas. This is because they discovered that the first degree is not marketable and decided to take another course. This occurs as result of lack of planning. But, why should someone take a course in an area that is not marketable in the first instance?
     Choosing a career cannot be done with emotion only. It is something that will determine one's life. Therefore, career choice must be done with an objective in mind. This objective must contemplate knowledge and money. Without meeting these needs, college turns into deception instead of blessing.
     Think about this!