In light of the numerous economic challenges taking place, I believe we must educate our citizens about the importance of accepting that they may have fallen into poverty or are in the process of doing so.
I believe that helping them accept this fact while they still have the power to change it is key to our growth as a nation, because the loss of income for an income earner or loss of a wealthy man’s income is a loss of income for two or more families.
I say this because I still see far too many upper-class and middle-class Africans losing their homes, cars, and other valuables to auctions while also picking up bad credit scores that will hinder them for up to five years, when they had the option to admit that they couldn’t afford anymore, sell their properties, and even make a profit to start over!
I feel that we should let them know that poor people aren’t just the ones who live in informal settlements, but those living in wealthy establishments too, and in between – as long as they are no longer able to provide for their financial obligations or needs. Be it a plate of food or a bond payment.
This is not to drive one into frustration but rather an attempt to aid the growth of Africans. Acknowledgment and acceptance lead to preparedness and mitigation. Avoidance leads to untold struggles that affect not just the person facing the struggles but their office or home staff as well.
If they are to save themselves and change course, they have to understand that they are in trouble well before things get out of hand. And it is not hard to tell if one is getting into financial trouble or not because the signs are everywhere. As mentioned, they include living entirely on credit cards or revolving credit, failing to make car, bond, rent, or school fees payments in some months, or much worse, missing payments for two, three, or four months in a row.
Many would argue that ‘that is how things are’ or ‘it is what it is’. They would argue that occasionally being unable to make payments is just a part of life. The worst term or argument is “adulting” – a term used by young adults to accept financial and social challenges as normal. Well, it is not. The truth is, if you cannot meet your monthly obligations, you are en route to poorville. You should take stock at this very moment and decide if you will continue sliding down or begin to climb up.
And climbing up is not that difficult, but that is a topic for another day. For now, all you need to do is REALISE, ACCEPT AND ACT. This is what will grow you and those who depend on you.
Do not be scared to start all over if it necessary. It is better to start over and grow than to stand and perish.