Taking a Loan? you need to know these details

What you need to know about the loan

Need A Loan?

Access to loans has become much easier in the current times, thanks to the emergence of new technology. There are a few things you need to know before taking a loan. The loan process has become more simplified and now without any paperwork or collateral, one can apply for a loan from the comfort of your own home and have it in your account in minutes. But it is important that you also understand the terms and conditions of your application process and below are some;

  1. Interest rate; is the amount a lender charges a borrower. It is applied to the principal, which is the amount of the loan. The interest rate is the cost of debt for the borrower and the rate of return for the lender. A borrower that is considered low risk by the lender will have a lower interest rate. A loan that is considered high risk will have a higher interest rate.
  2. Credit limit: is the maximum amount of credit a financial institution extends to a client. A lender examines the borrower’s credit rating, personal income, loan repayment history, and other factors when setting the credit limit. You can only borrow within your credit limit but not above it.
  3. Credit Score: is a representation of your creditworthiness. It is what lenders use to determine a person’s credit risk and repayment ability. When you apply for a loan, your credit score is evaluated to determine whether or not the loan will be accepted. A good credit score shows lenders that you can pay your debts on time, but a negative credit score indicates that you might have trouble returning your loan. As a result, the higher your credit, the better your chances of getting a loan.
  4. Tenor: is the length of time until a financial contract expires, and it can be given in years, months, or days. Short-term loans often come with more flexible loan terms and lower interest rates while long-term loans come with higher interest rates. High-tenor loans are typically seen as riskier to the lender.
  5. Debt-To-Income Ratio: measures the amount of income a person generates in order to service a debt. A low debt-to-income ratio demonstrates a good balance between debt and income. In other words, if your DIR ratio is 15%, that means that 15% of your monthly gross income goes to debt payments each month. A DIR of 43% is typically the highest ratio a borrower can have but lenders generally seek ratios of no more than 36%. To calculate your DIR, sum up your monthly debt payments including credit cards, loans, and mortgage, then divide your total monthly debt payment amount by your monthly gross income. The result will yield a decimal, so multiply the result by 100 to achieve your DIR percentage.
  6. Whatever it is please ensure to know these terms, know more details about how loan works to avoid issues with your facility.

To apply for a loan now , please click www.creditdirect.ng.

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Terms To Familiarize Yourself With Before Taking A Loan

Access to loans has become much easier in the current times, thanks to the emergence of new technology. The loan process has become more simplified and now without any paperwork or collateral, one can apply for a loan from the comfort of your own home and have it in your account in minutes. But it is important that you also understand the terms and conditions of your application process and below are some;

  1. Interest rate; is the amount a lender charges a borrower. It is applied to the principal, which is the amount of the loan. The interest rate is the cost of debt for the borrower and the rate of return for the lender. A borrower that is considered low risk by the lender will have a lower interest rate. A loan that is considered high risk will have a higher interest rate.

 

  1. Credit limit: is the maximum amount of credit a financial institution extends to a client. A lender examines the borrower’s credit rating, personal income, loan repayment history, and other factors when setting the credit limit. You can only borrow within your credit limit but not above it.

 

  1. Credit Score: is a representation of your creditworthiness. It is what lenders use to determine a person’s credit risk and repayment ability. When you apply for a loan, your credit score is evaluated to determine whether or not the loan will be accepted. A good credit score shows lenders that you can pay your debts on time, but a negative credit score indicates that you might have trouble returning your loan. As a result, the higher your credit, the better your chances of getting a loan.

 

  1. Tenor: is the length of time until a financial contract expires, and it can be given in years, months, or days. Short-term loans often come with more flexible loan terms and lower interest rates while long-term loans come with higher interest rates. High-tenor loans are typically seen as riskier to the lender.

 

  1. Debt-To-Income Ratio: measures the amount of income a person generates in order to service a debt. A low debt-to-income ratio demonstrates a good balance between debt and income. In other words, if your DTI ratio is 15%, that means that 15% of your monthly gross income goes to debt payments each month. A DTI of 43% is typically the highest ratio a borrower can have but lenders generally seek ratios of no more than 36%. To calculate your DTI, sum up your monthly debt payments including credit cards, loans, and mortgage, then divide your total monthly debt payment amount by your monthly gross income. The result will yield a decimal, so multiply the result by 100 to achieve your DTI percentage.

A thin line between Good and Bad Loans

Reliable Loan Provider

Loan provider

Hello,

We all know there is a thin line between love and hate but did you know that applies to loans as well? There’s a thin line between good and bad loans and it all comes down to certain factors.

With the wide range of lenders to choose from, it has never been easier to access a loan in Nigeria today. There is a lot at stake in finding a reputable lender can seem like a lot of hard work when you can just go for the easy option.

Today, I decided to walk you through 4 things you should look out for when choosing to take a loan from any company in Nigeria.

  1. Hidden Charges & Rates; This is a huge selling point for most lenders is their low interest rates and sometimes this can be a scheme to attract borrowers and it is later discovered that the cost of the loan is higher. Always take your time to calculate the cost of the loan. Any good loan company would disclose all the information and charges early enough to guide you into making a decision.
  2. Repayment terms; this consists of repayment tenor, amount, and conditions for liquidation. Did you know some lenders charge a penal fee for paying off your loan early? Outrageous right? You should always consider the cost of early payments (liquidation). Let your financial capacity guide you in choosing the perfect repayment terms for you.
  3. Confidentiality; I think one of the biggest flaws of most small credit companies in Nigeria is their lack of confidentiality. Some lenders send threatening messages to people in your inner circle, informing them of your debts. Is this something you want?

We strongly advice you to keep in mind how the data you provided them is handled as well as how do they handle defaulters that take money from the company and find it difficult to pay back.

  1. Credibility: I think this is the most important factor and all other factors I’ve listed fall here in one way or the other. I believe it is wise to always choose a lender that has shown notable years of experience in this industry.

For us at Credit Direct Limited, these 4 factors are just a percent of the many other factors we had in mind when we began. Our promise of enabling peace of mind has been our constant drive in delivering top notch service to our customers and large.

Take a credit with us today and experience a seamless service that would never leave you in regrets.

Have an amazing week ahead…

Click the link to apply for a good loan today www.creditdirect.ng

Credit Score- All you need to know

A credit score is a 3-digit number, ranging from 300 to 850 (using the VantageScoring model), that indicates the level of risk associated with granting a credit or loan to a prospective borrower or customer. The lower it is, the higher the risk and shows that there is a high chance that the customer may default in payment, and vice versa. The scores are ranked through excellent, good, average or poor. Simply put, a credit score is a representation of your creditworthiness. Before approving your loan, lenders will check your credit score to assess how risky of a borrower you are. Your score is calculated based on the following factors:

  • Payment history:35%
  • Current debt amount:30%
  • Credit history length:15%
  • Credit mix:10%
  • New credit activity:10%

The best interest rates for loans usually go to borrowers who have well to excellent credit scores. Good Credit Score: Someone with a track record of making all credit payments on time, clearing debt balance, and taking justified loans will have a good credit score. Any credit score which has credit utilization below 30% is considered a good score.

Why is it Essential to Have a Good Credit Score?

  1. You’ll be able to apply for low interest loans, car loans, home loans, and other personal loans from lenders as they first check their credit scores to determine their creditworthiness.
  2. Secure higher credit limits on credit cards: Although they are not so common or widely used, credit cards can be gotten in Nigeria, but until recently, they were majorly acquired on special requests from your bank. A good credit score is an indicator of your creditworthiness and you can take advantage of that in the form of higher credit limits on your cards.
  3. Access to highly rated credit cards: Several financial institutions offer best-rewarding credit cards to customers with good credit scores. These cards often come with certain privileges in the form of discounts on different online shopping platforms, cash back, complimentary movie tickets, discounts at luxury dining restaurants and hotels, travel miles, and much more.
  4. Eligible for a pre-approved loan offer: A good credit score will increase your chances of being able to get pre-approved loans at low interest rates from banks and financial institutions.

What factors impact your credit score?

  1. Debt Accumulation: Outstanding debts can greatly weaken your credit score. In the same vein, paying up your debts late can also negatively impact your creditworthiness.
  2. Constant credit applications it is essential to manage how often you apply for credit. If you apply too many times, you can further weaken your score. Try to space out your applications to avoid this.
  3. When you travel out of Nigeria and you do receive a credit card from your bank, be sure to use it wisely and within limits. Using the credit card within limits and ensuring timely payment of the bills will positively impact your credit score.
  4. Check your credit score regularly: This helps to know how well or how terribly you’re doing at managing your credit.  It can also help you to identify any inaccurate or incorrect information and rectify it.

How to check your credit score

Every Nigerian is entitled to one free Credit report every year from any registered Nigerian Credit Bureau. To get a free credit report in Nigeria, use any of the following sources:

  1. Dial the USSD code *565*8# on your mobile phone to get instant Credit reports from CRC Credit Bureau.  This service is currently available to MTN subscribers only
  2. Get a free credit report from a reputable credit institution in Nigeria. You only get one free report per month.

Who Can See Your Credit Report?

Fortunately, not everyone can see your credit score. In actual fact, there’s a short list of people or entities that can access your credit report and these people or organizations must have what is known as a “permissible purpose”, which includes.

  • An applicant or a guarantor for credit
  • Review, renew, restructure or monitor credits
  • Employment checks
  • Prospective tenants
  • Underwrite, review, or renew insurance policies or analyze insurance claims
  • Application for credit contracts or other post-paid services
  • Debt collection, enforcement of a monetary judgment or enforcement of any other debt
  • Carry out KYC checks on any person for any permissible purposes
  • Directive of a regulatory authority or a public body
  • Compliance with a court order

People who can see your credit score include;

  • Banks, specialized banks, and other financial institutions

To ensure you have a decent and healthy credit score, please be judicious to your financial obligations in terms of loan repayments and others. This gives you a good score and gives you leverage.

How to identify a Lagosian

Hello Fam, how has your week been? Have you gotten over the sallah holiday fever? From those who were magnanimous to share their stories, we know those who hopped from party to party eating up all available fried ram meat that has either fallen from the cooler or still steaming out of the hot bubbly oil that begs for help from the fire done beneath. This made up part of the story we heard over and over as we resumed. Some people came to work with paper wraps of fried meat, cold, hot, warm and some half eaten.

Back to our topic, what really makes us Lagosians?  Could it be our culture? The traffic? The noisy streets? The massive yellow-coloured vehicles beneath the bridge? Or the serene neighborhood of the elites?

well maybe, just maybe, but nothing defines us like our attitude. Lagosians are outstanding, bold, courageous, fierce, amazing, talented, and resilient people.

Who else can struggle in traffic over a tiny space yet lend the next person a fire extinguisher when his car has a spark?

Who can sit together in church yet shout on each other in traffic just after the service is over?

Do you know anyone who can turn a bad situation into a contagious laugh?
Tell me who else can look at an impossible circumstance, and say bring it on?

Let us say it to you clearly….. Only Lagosians!

For sure, we can’t find a better way to brag or amplify our pride than to share with you the most convenient consumer lending company in Nigeria, Credit Direct Limited is made in Nigeria, born in Lagos and available for working class Nigerian.

For our civil servants especially the federal government employees, we have bespoke product targeted at enabling your peace of mind.

What are you waiting for, log on to our website www.creditdirect.ng and apply for a loan. You can also chat us on WhatsApp +2349070309430 or send us an email contact@creditdirect.ng

Repositioning Your Business Post Covid-19

As the government and economy adapts to the impact of Covid-19, SMEs must implement strategies to help secure firm footings and prepare for post-COVID economic conditions, the future of work, and long-term sustainability.

SMEs and large enterprises have experienced various forms of contraction, in some cases, closure of the businesses. Many companies had thrived on an existing modus operandi and were not prepared for the impacts of the pandemic. However, the lockdown and the emergence of social distancing has caused businesses to incorporate innovative working arrangements like remote working, online services as well as sequenced attendance

It is no news that SMEs in Nigeria contribute a whopping 48% to our national GDP, account for 96% of businesses, and provide for 84% of the employment of our citizens. With a total number of about 17.4 million, they account for about 50% of industrial jobs and nearly 90% of the manufacturing sector, in terms of the number of enterprises.

Covid-19 may have proven disastrous for your business, (as it has for many others). Getting up and running again may seem like an impossible challenge, but coming back from the brink is possible. Here are some ways you can reposition your business post-COVID-19.

Build Your Online Presence.

Many businesses that did not have an online presence practically crashed during the lockdown which brought a halt to movement and large gatherings. This caused many businesses that existed mainly on physical interactions to pack up.

The world has moved online, and the emergence of digital dominance has made it necessary for more people to rely on the internet to look for the products and services that they need. Any business that does not effectively use this platform risks losing new lucrative opportunities. Business owners must learn that it is a huge travesty to plan your strategy without having an online presence.

Review & Strategize
Your business model may have worked perfectly fine pre-COVID-19 but coming out of it may mean you have to do some fine-tuning. Specifically, you may need to consider how your business can pivot to adjust to a new normal.

Flexibility is one of the keys to thriving after the transition. Understand that the pandemic has affected the world economically and otherwise. Hence, it is crucial to adapt to the changes by inculcating new plans, being versatile and multifaceted rather than being inappropriately unbending.

When going over your business plan and business model, clarify your business’s strengths and weaknesses, consider what was working before that may not work as well now, and see where you can adjust or improve to remain competitive. Ensure to revisit your business goals to make sure they’re S.M.A.R.T, given the current circumstances.

Develop a Contingency Plan

While restrictions may have recently been lessened somewhat, it’s important to remember that we’re still in the middle of a pandemic, as a cure is yet to be uncovered. Therefore, it’s important to prepare just in case the worst-case scenario happens and there happens to be another wave of the pandemic just around the corner.

You can never over-prepare in business, after all, so make sure you have fail-safe strategies developed and at hand just in case. Whether it be a hands-free delivery system, the use of local suppliers to avoid contamination, or an entirely new service, take time now to think about how you can keep your business safe should a second wave come.

Revise your  budget to account for New Spending

Coming out of the COVID-19 pandemic, you may have to spend money before you can make money.

For instance, you may need to spend money on hiring and training new employees or rehiring ones you had to lay off. You can however train the available staff. Inventory may need to be purchased, and you might have to rev up your advertising budget again to start building fresh buzz. I would downplay spending on Advertising for now as you can leverage social media at a low cost to give you a higher impact before you launch with a bigger spend. Since the new normal has gone digital, it would be profitable to maximize your budget.

As part of your recovery plan, you should have a clear idea of what you need to be budgeting for and what you can cut to make the most of the revenue you do have coming in.

An extreme step you could take during this time is deferring paying yourself a salary or taking a pay cut. This is believing that you have isolated your personal finances from your business. Once this has been done, you would conveniently track your expense and align with your goals. Remember without proper accounting you would not be able to get loans or contracts.

Diversify

Companies grow faster when they have an array of products, businesses soon come to maturity at some point, and after that, the decline sets in. We have seen companies boom and crash all because they focused on only a mono-product. By the time competition comes in, they cannot sustain the pressure that comes with competition. This is not to say there is anything wrong with specializing in a product, there is a need to improve, expand and grow within your industry. Gaining more grounds with varied products would help the company in times of uncertainty.

Whatever you do, remember you must be sustainable to succeed. You can outsource some functions of your business if it would be cheaper and more convenient. By doing this, you would save overhead costs and other expenses that would have drained your profit.

 

 

Seven Habits to Develop Financial Stability

When you have financial stability, you feel confident with your financial situation. You don’t worry about paying your bills because you know you will have the funds. You are debt-free, you have money saved for your future goals and you also have enough saved to cover emergencies.

Here are seven habits that can help develop your personal financial stability;

1. Make savings automagical:

Saving should be everyone’s top priority, especially if you don’t have a solid emergency fund yet. Make saving the first bill you pay each payday, by having a set amount automatically transferred from your salary account to your savings (try an online savings account).

2. Control your impulse spending:

The biggest problem for many of us. Impulse spending, on eating out and shopping and online purchases, is a big drain on our finances, the biggest budget breaker for many, and a sure way to be in dire financial straits. See Monitor Your Impulse Spending for more tips.

3. Evaluate your expenses, and live frugally:

If you’ve never tracked your expenses, try the One Month Challenge. Then evaluate how you’re spending your money, and see what you can cut out or reduce. Decide if each expense is absolutely necessary, then eliminate the unnecessary. See How I Save Money for more. Also, read 30 ways to save $1 a day.

4. Keep your family secure:

The first step is to save for an emergency fund so that if anything happens, you’ve got the money. If you have a spouse and/or dependents, you should definitely get life insurance and make a will — as soon as possible! Also research other insurance, such as homeowner’s or renter’s insurance.

5. Use the envelope system:

This is a simple system to keep track of how much money you have for spending. For example, you can set aside three amounts in your budget each payday; one for gas, one for groceries, one for eating out. Withdraw those amounts on payday, and put them in three separate envelopes. That way, you can easily track how much you have left for each of these expenses, and when you run out of money, you know it immediately. You don’t overspend in these categories. If you regularly run out too fast, you may need to rethink your budget.

6. Pay bills immediately:

One good habit is to pay bills as soon as they come in. Also, as much as possible, try to get your bills to be paid through automatic deduction.

7. Look to grow your net worth:

Do whatever you can to improve your net worth, either by reducing your debt, increasing your savings, or increasing your income, or all of the above. Look for new ways to make money, or to get paid more for what you do. Over the course of months, if you calculate your net worth each month, you’ll see it grow. And that feels great.

 

How to Prepare for a Recession (8 Proven Strategies)

You do not have to be an Ivy League analyst to realize that the economy – and stock market – is going through some serious ups and downs now.

In fact, you can see that:

  • Businesses are closing.
  • National debt is soaring.
  • Interest rates have decreased.
  • Stocks have gone up and down.
  • Unemployment claims remain high.

And you can also feel a sense of uncertainty in the air.

So, if you are worried about the next recession then you have come to the right place.

Let us walk through the 9 proven strategies on how to prepare for a recession below.

What is a Recession?

First, it is important to understand that the markets go through cycles. They go up and they go down,

The historical data suggests the following:

  • What comes up, must go down.
  • What goes down, must come up.

To be a little more technical, you can see that the stock market has periods of growth and periods of decline.

Recession Defined: A recession is a temporary period of decline in the stock markets and economy.

The emphasis is on the word “temporary.”

The technical definition of a recession is the following:

  • 2+ consecutive quarters of negative growth in the nation’s gross domestic product (GDP)

A GDP is the total value of what is produced (goods and services) within a country’s borders.

Check out the chart below, which can give you a better idea of GDP by country:

As you can see, the U.S. is the top producing country, followed by China and Japan.

Back to the subject at hand: What is a recession?

Additional indicators that could suggest you are in a recession include:

  • Rising unemployment
  • Decreasing stock prices
  • Reducing real estate value
  • Eroding consumer confidence

Consequently, a recession could seriously impact your personal finances.

That is why it is important to prepare for a recession today.

And if you have lived through the Great Recession of 2008 or the very recent COVID-19 related recession of March 2020, you will remember that feeling of anxiety.

Pro Tip: Try tuning out the media when you know you are entering a recession. The media know that fear sells, so expect to see stories of doom and gloom.

Remember that every time the economy went down, it also went back up.

So, you have every reason to feel confident that you will not lose your money in a recession.

In fact, you can make some serious gains in the stock market – if you play your cards right.

How Long Does a Recession Last?

According to the National Bureau of Economic Research, a recession typically lasts around 11 months.

However, recessions are not made equally.

Recessions can be:

  • Long and mild
  • Short and mild
  • Long and severe
  • Short and severe

I am sure you may still remember the sting from the Great Recession of 2008.

Pro Tip: If you continue to make regular investments throughout a recession and buy stocks when they are priced very low, you can still make massive gains in the long run.

What Happens During a Recession?

Basically, the economy takes a nosedive when you are in a recession.

Here is probably what you will see during a recession:

  • Increased layoffs.
  • Decrease in wages.
  • High unemployment
  • Increased government debt
  • Stocks and bonds fall in value.
  • Decrease in consumer spending.

The Bottom Line:

When the economy recovers, the negative trends of the recession will also start to recover. You just must focus on the long term.

How to Prepare for a Recession

There are a few ways to prepare for a recession, which we have outlined below.

Although no one has a crystal ball to tell you when the next recession will come, you can tell from history that each recession is followed by tremendous economic growth.

So, remember to investigate the long-term and know that 99% of the time, you will see much better economic growth after a recession.

Let us get started.

  1. Increase Emergency Savings

Before you even think about investing, first consider how much cash you have saved up.

That is why you want to have a solid emergency savings fund ready to go in the case of a recession.

Pro Tip: To have a “good” emergency savings fund, you will want to have 3 to 6 months’ worth of your living expenses saved up.

So, if you spend about N3,000 per month on basic living expenses, including:

  • Rent
  • Taxes
  • Groceries
  • Student loans

…Then your emergency savings fund should have between N9,000 to N18,000 saved in cash for emergencies.

It is not much compared to where interest rates used to be 20 years ago (we’re talking 2% to 3% or higher), but those rates are the highest in the current market conditions.

  1. Pay Off High-Interest Debt

Debt is terrible in any type of economy – but it can especially be a heavy burden during a recession, where fears of unemployment (and consequently no income) may be in the air.

Below are some examples of high-interest debt:

  • Payday loans
  • Credit card debt
  • Other personal loans

Basically, you want to start paying off debt with interest rates of 10% or more as fast as possible.

When you pay off your debt, you have fewer payments due, which can help ease your mind, especially during a failing economy.

Once your debt is paid off, you can use your money to:

  • Invest in the stock market.
  • Pay off other, lower interest debt.
  • Put toward your emergency savings.

Check out the 5 key benefits of debt consolidation:

  • Decreases your stress.
  • Ability to pay off debt faster.
  • Could improve your credit score.
  • Typically, you pay lower interest rates.
  • Instead of making multiple payments, you only pay 1x.
  1. Stick to your Budget

If you want to prepare for a recession, you must learn to live within your means.

Here is the simple formula to sticking to your budget:

Budget Formula: Expenses < Income = Becoming a Millionaire

In other words, your expenses must be less than your income.

A budget is a millionaire planning tool to help you optimize your money so you can build the future you want. Sticking to your budget – and not spending more than you earn – is going to be SUPER helpful, especially when a recession is looming on the horizon.

By living frugally, you can free up a lot of your money to:

  • Pay off debt.
  • Invest for retirement.
  • Use toward emergency savings.
  1. Cut Down Expenses

As your income increases, it is probably a good idea to check out where you can cut costs and save more money.

In addition to sticking to your budget, as discussed above, it is also important to avoid allowing lifestyle creep to nibble away at your net worth.

Lifestyle Creep Defined: Lifestyle creep happens when you spend more money as you earn more money.

Instead, try training your mind to save more money as you earn more money (and keep your expenses the same).

Since the chances of your income being slashed or eliminated are high during a recession, you want to make sure you can live without certain expenses.

That is why it is important to learn how to cut costs before a recession hit.

Below are some easy ways to cut costs fast:

  • Cut the cord.
  • Find a roommate.
  • Go thrift shopping.
  • Terminate subscriptions.
  • Bargain with your utility companies
  1. Diversify your Investments

Have you ever heard of the saying: “Never put all of your eggs in the same basket?”

Well, the same goes for your income streams.

Imagine depending on just 1 income stream during a recession… and then facing the reality of being let go from your company.

Without income, it is going to be hard paying for your regular living expenses – not to mention the difficulty of finding a job during tough economic times. So, do not rely on just your 9 to 5 job.

There is a reason why the average millionaire has 7 income streams.

  1. Become a Side Hustler

If there is one thing I learned, it is this: Start building your side hustle as soon as possible.
I’m sure you can already tell what my favorite side hustle is… it’s blogging!

Check out the top 3 side hustles and their monthly income potential:

Now keep in mind, you probably will not see numbers even close to the numbers above within the 1st, 2nd or likely even 3rd year of pursuing your side hustle.

But, if you:

  • Are consistent.
  • Are committed.
  • Stick with your plan.

…Then chances are, you will likely succeed.

  1. Live on 1 Income Stream

This rule of thumb only works if you live with your partner and both of you are earning income.

One of the best ways to prepare for a recession is if you and your partner live below your means by:

  • Saving 1 income stream
  • Living off the other income stream

Living off only 1 income stream can help you with the following:

  • Pay off debt.
  • Save for retirement.
  • Keep investing during a recession.
  • Increase your emergency savings fund.

The Bottom Line:

If you practice living off only 1 income stream when times are good, it is going to be very easy for you and your partner to live off 1 income stream, should (worst case) 1 of you lose your jobs during a recession.

8. Invest in Yourself 

One of the key outcomes of a recession is high unemployment.

And even though you may be completely crushed that you were let go of your job, you can use that opportunity to invest in yourself.

That is of course assuming you have:

  • Paid off your debt.
  • Additional income streams
  • Bulked up your emergency fund.

How do you survive a recession?

You can survive a recession if you prepare properly beforehand.

Some steps you can take include:

  • Invest in yourself.
  • Stick to your budget.
  • Live below your means.
  • Build an emergency fund.
  • Build extra income streams.
  • Diversify your investments.

Credit – MMW.

Remember, while you prepare for life during the recession, we would encourage you to start a passion project, something you love to do without much effort, monetize it and make the most out of it. We are here to provide quick loans for you. Get Quick unsecured loan without collateral, no guarantor, no account opening. Credit Direct Limited enables your peace of mind.

Contact us today. 01 4482225 or chat us on WhatsApp. click www.creditdirect.ng