1. educate yourself on how money works.....read about money, investing, budgets, etc.
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2. calculate how much cash you have to pay bills if you lose your job, get a figure in days/months. Have a plan to save/extend that figure as much as possible. for example, if you have just 1 week of "emergency funds" have a target to extend it to three months.
3. cut down on unnecessary spending, get a budget, stick to it.
4. Look for multiple sources of income, if you have 2 cars, start a private Uber, if you have a free boys quarters, rent it out, monetize your assets.
5.have zero debt
6. Earn foreign exchange, export something
What financial plans, goals or hacks do you have?
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Chile is Capitalist ie free markets; target is equal opportunities
Venezuela is Socialist ie government controlled markets; target is equal outcomes
Chile is now richer than Venezuela who has probably the largest deposits of crude oil globally. Riches not based on crude oil.
NO government can create a job...ONLY the private sector can...all the government can do is redistribute .
Socialism has never made any nation rich, please note a capitalist nation can have an extensive social welfare programs eg Denmark, that does not make them Socialist.
"Socialist" government are governments that set prices eg for petrol, that own economic assets eg NNPC & even influence economic decisions like setting exchange rates for the economy.
The worst mixture is a Socialist government that is pursuing a welfare agenda like Venezuela
Why are states in Nigeria not paid their share of the oil and gas earnings in the currency it was earned in, i.e., the United States Dollars (USD)?
Crude oil in Nigeria is owned by the Federation — the Federal, State, & Local Govt. Shared as follows: 13% is deducted & paid to the oil and gas producing States; next, the Federal Government (FGN) gets 52.68%; the States get 26.72%, & the Local Governments get 20.60%.
When Nigerian crude oil is sold, the proceeds are in USD and get paid to the NNPC/CBN/JPMorgan Account in the US. The Oil taxes, e.g., Petroleum Profit taxes, are also in USD and are collected by the Federal Inland Revenue Service and paid to the Central Bank of Nigeria (CBN