A depressed economy is a state of prolonged recession or significant downfall in the economy. It is most likely caused by corruption in the government and it's characterized by rise in unemployment, falling prices declining business activities, public fear and panic, abject poverty of individuals etc.
In a state where the economy of a country is depressed, one must make adjustments in his/her ways of living and become frugal to survive the situation.
There are so many practical ways to survive in a depressed economy;
Talent Exploration: Thinking is the foundation of progress.. thinking outside the box, think of all the creative things you can do that you have not had time for, bead making, knitting, hand crafts, making earings and purses with African print materials, cosmetics, baking, hair dressing, barbing etc. These can fetch good money.
You do not need a saloon to be a stylist or a cosmetician! If u have the talent, let people know that you can do it, maybe evn cheaper. You can as well do home services, save them the stress and give them the best.
Agriculture: If u have a space or can secure one, agro business has some areas that are cost effective. For a starter, the snail farming is one of it's kind, the feed is not farfetched. There are so many other Agro business to engage in which you can give a trial.
Fashion Designing: If you have been trained as a tailor or seamstress even if you're a student, there's no excuse to it. You have fellow students as market target. Always get your measurement tape and book alongside with your study notes, do the work of mouth advertising, wear ur designed dresses too as a means of visual advertisement and you're good to go.
During leisures, get yourself engaged in something productive.
Manage your pleasures!
Any pleasure that distorts your final goal is illegitimate!
Develope a scheme of preference and be very disciplined with it. By so doing you can manage your time properly and make your money properly.
But in all, Perseverance is one key to survive the depression in whatever you do.
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Now more than ever it's important to be able to diversify ourselves and have multiple skills that we can use on any given day. If we can do that, then we can survive in all kinds of economic situations and I think that's what's going to pull a lot of people through. It's sad because we need the people with just one skill that do something with expert knowledge but at the same time, that is also a very vulnerable position to be in.
Yes that's true but in the end we will win