Freelancing and ‘money management’ – this week in Pakistan’s business and economics Twitterverse

In this week’s social media round up, Ariba Shahid walks us through income woes when it comes to freelancing, organizing finances, or just the sad reminder of the fact that salaries do not go up 1.5x. The round up also points out a growth in trade with China and the lack of data utilization by banks.

  1. Freelancing woes 

 Sure freelancing is a good source of income. That does not mean you should not take into account the fact that you may be exploited. Moreover, how does it look on your resume? Do you think freelancing is a sustainable earning model? These are just some questions this thread by Sophia Hasnain has us thinking. Perhaps the most important thing you can ask yourself is, maybe it is a good way to get by with flexible hours when you’re young, a student, or even in between job, but does it a career make? 

  1. Calling out the banks 

While we are normally wroth to include ourselves in Profit’s weekly social media roundup (you hear plenty from us already in the remainder of this magazine), this is one point that we felt deserved highlighting because it could not be ignored. It is not only funny, but also highlights where banks lack. Banks need to do a better job at credit scoring which and should not only rely on deposits. The service a bank should provide to you should be based on the type of customer you are and not always on how big your bank balance is. However, to do this they will need to be more tech savvy, something we feel is unlikely.

  1. The worst of times and the worst of times 

There is a lot of hue and cry any time that \ inflation is high and when the rupee devalues. When the pandemic hit, a number of employers gave their employees pay cuts too. When the going gets tough, salaries get cut. But when things get better, we don’t see the same employers giving increments. Wages are sticky, and no Azam, no one got their salaries increased by 1.5x but thank you for making us feel bad about it.

  1. Export-happy
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Pak Cheen dosti Zindabad. Pakistan has signed a Free Trade Agreement with China and as a result one can see export growth. In fact, during FY 21, export growth can be seen with the USA, UK, and Germany too. This is because exports of goods and services grew by 6.2% surpassing the US$ 25 billion mark. The export of goods grew more than the export of services given the pandemic and lockdowns. If it makes no one else happy, the government will absolutely be giddy with excitement since improving exports has been one of their top agendas ever since they got into power. 

  1. We’re done with corporate fluff 

We hate corporate fluff and its jargon. We roll our eyes when someone says “Hey guys, let’s think out of the box” or “We need to create synergies.” We feel your pain Samir Ahmed and hope you manage to stick it through. We suggest you eye roll like us too. But as a hint from seasoned professionals in the eye-rolling business, we strongly suggest doing it when your boss is turned away – when they are in front of you, big smiles and vigorous nods of agreement are recommended, especially if you need the job. If the meetings are on zoom, you can even scream and put your head down. Just make sure you have your mic and camera off. 

  1. Take a break, breathe  

Jawwad Farid tweets something that resonates with us. It’s hard churning out articles every week. Our readers are demanding and they want new stories, each better than the ones before. It gets hard because of writer’s block, imposter syndrome, and usually just because corporations do not respond on time. Well, the solution is simple, put on a movie, go for a run, or just simply relax and take a break. Things will get back in control in no time.

  1. Design thinkers 

Design thinking is about solving user problems. In researching consumer behavior one often comes across various answers. This is just one example of things design thinkers keep in mind while designing interfaces and platforms for users

  1. Money matters

When we tell you to organize your finances, this is what we mean. Stacking your coins this way is therapeutic. If you stack them like the picture on the left, you’re chaotic. However, once you’ve stacked your coins, take a hard look at your portfolio and see if it is diversified enough and whether you’re betting on the right horse. Make the right choices while you can. 

Ariba Shahid
The author is a business journalist at Profit. She can be reached at [email protected] or at twitter.com/AribaShahid

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