Economy pressure

[Yamane_Keto]

Inflation is one of the worst diseases of the economy because of its direct impact on the middle and poor classes instead of the rich classes, and because the poor do not have assets but mostly liabilities and expenses, inflation will be very bad for members of this class.

People from Nigeria may give you better details, but you must know the cause of inflation in order to find the appropriate treatment. Is inflation in your country due to money printing, or due to an imbalance in exports and imports, or due to external influences? Then improving your skills to find a better job while investing any amount you have in food storage. Reducing any unnecessary expenses will help you greatly in reducing the effects of inflation.

[1714529198]

1714529198

[demonica]

A lot of countries are experiencing inflation. And we've all been experiencing it ever since. Compare the prices of stuff before to today's price, you will always see a huge difference. Everything's becoming more expensive each day. Just a few years will pass, the prices of goods would probably be doubled. I feel like even the government can't really do anything about it. Perhaps the best they can do is to try to maintain or slower the increase of commodities and goods.

It has been a long issue of inflation, and instead of waiting for the government to solve this issue, individuals are forced to find other ways to earn income instead of just relying to a single source of income so they can afford to live a comfortable life.

[harapan]

Other people are forced to find side hustles or a second job. You can't really depend on the government to provide aid or even help those who are in the poverty zone all the time. That's why this day and age is a curse to all the up and coming adults: you can never really raise a family with these wages unless you work double shifts or have another stream of income. That's also why most young adults are choosing not to bear kids, and with it comes declining population. Choose your poison, I guess. You can't have even the most basic of things if you have these people in power running things.

Financial pressure is something that affects every homes.its not really easy to have kids,cater for their financial needs like food,school fees,and even their upkeep.Inflation is one of the things that is affecting many countries presently,and its only the ones that understands how to deal with the logic that can survive here.

[justdimin]

Inflation is one of the worst diseases of the economy because of its direct impact on the middle and poor classes instead of the rich classes, and because the poor do not have assets but mostly liabilities and expenses, inflation will be very bad for members of this class.

People from Nigeria may give you better details, but you must know the cause of inflation in order to find the appropriate treatment. Is inflation in your country due to money printing, or due to an imbalance in exports and imports, or due to external influences? Then improving your skills to find a better job while investing any amount you have in food storage. Reducing any unnecessary expenses will help you greatly in reducing the effects of inflation.

Inflation exists in many nations, if you look at the inflation rates in nations, Venezeula, Zimbabwe, Sudan, Argentina and Turkey has some of the highest, Nigeria is not in that list. It is of course important for those people to earn in dollars, to have a stable income. If you make the fiat of those nations your money will be gone for good, and that is not really something you could expect at all. However, if you end up with something that would be smaller, then you are going to end up with a good return.

Hopefully, we could see it change one way or another, and with that we could consider making some USDT income at crypto, and that will definitely allow these people to get a good return one way or another thanks to bitcoin.

[slashz9]

I think if something like that happens, people have to think about what to do next, but I don't know how people can be in that situation, because human fate is different, some are born rich, some are born poor, some just live. enjoy life, some have to struggle to be able to eat every day.
but it's all based on initial financial management.

[Hyphen(-)]

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

I understand how you feel because we Nigerians need prayer on our economic situation. Inflation has really affected our economy as the price of goods are going up due to some common economic mistakes our leaders did.
It started when the Nigerian government announces the removal of fuel subsidy, then the instability of Naira to dollar value.

Nigerians mostly depends on importation, and their currency Naira loses value to USD, as a result of that, if business people import goods, they sell it at a very high price and if the dollar to Naira value keep dropping, the price of goods keep increasing that is why the inflation rate is becoming high.

Nigerian Government need to stabilize the exchange rate to bring an end to this problems.

[TheUltraElite]

I dont see how you can help yourself to a better state of living at the current situation. Cost of living has increased with you are implying from the cost of the same soap. You cannot always increase your own wage by your own to balance that. In Nigeria, the situation is indeed bad and have you ever given the thought of moving to a different place?

Bringing three kids to the world was your decision so now you have to face the problems. Bitcoin might help to combat the inflation but to what extent, I cant say. Better you try it out and see for yourself.

[Doan9269]

Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.

We need to know this that there's pressure everywhere, we are the ones to know how we could manage well those pressure and avoid being under it influence, there are times we also have to pretend as if we are not seeing some things happening, even though they were happening and others were being affected by it, we should instead focus on finding a means of rescue in such a way that we will be exempted from being affected of the pressure going on, but the more we are being much concerned the more its likely to affect us along with other people being affected already.

[CageMabok]

I think if something like that happens, people have to think about what to do next, but I don't know how people can be in that situation, because human fate is different, some are born rich, some are born poor, some just live. enjoy life, some have to struggle to be able to eat every day.
but it's all based on initial financial management.

If we compare it to initial financial management for all people, basically not all of them were born from rich families and not all of them were born from poor families. This seems unfair because those who were born poor obviously don't have the money to manage them well in their own lives, while those who were born rich certainly have the money to manage them well in their lives. So, in terms of initial financial management, it may only apply to those who are rich, because those who are poor have to struggle with many things to be able to do things better.

Apart from that, the life struggle between those who were born rich and those who were born poor is very different, because those who were born poor must be able to prioritize two important things in their lives. The first is about filling their stomachs, and the second is about how they can manage their money well after they earn it through their own work. Meanwhile, those who are rich can immediately apply how to manage their money well because they already have money straight away without having to think about how to fill their stomachs every day.

[Antotena]

Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more  bigger than this one.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

This is Nigeria thread, you should have posted it in the local board or you make references in your currency to what other people can understand so that they can relate like telling them what inflation rate is and how the dollar has appreciated to a naira since the new government came into the office on the month of May 2023 and also how the fuel subsidy has been removed tocm curb corruption but all not working.

I was watching Channels TV, I'm sure you are familiar with such TV stations and one economist was lambasting the president Tinubu governance, I think so far in the history of Nigeria, this is the worst economy we have face and most challenging one for that matter. Even PDP 8 years of bad governorship isn't as worse as this despite meeting empty reserve, this is the worst to say. The cement is selling for ₦11,000 to a bag and Naira to dollar is trading at ₦1640/$, I think Nigeria is heading into worst time + recession soon.

[sokani]

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

Inflation is continually on the rise and from the look of things, you cannot rely on the government to come up better solutions to ameliorate the current economic challenges in country.

To make the impact less severe:

• Buy and hodl bitcoin.
• Get foreign currencies and store in dorms account.
• Don't rely on a single job, look for multiple streams of income. If you've a farmland, grow vegetables, cassava, yam, plantain etc, to generate more income.
• Spend less on frivolities.

[ChiBitCTy]

Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more  bigger than this one.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

I have to ask why someone have 3 children when they're only making 50k per year?  One of the things that I come across most while financially preparing people for retirement is those whom have a multitude of children, yet have low to "middle of the road" jobs, always have, and yet they still continued to have more children.  I honestly don't understand this. (I'm not saying this is the case with you necessarily, but in general).

[Renampun]

...

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

I hope you remain strong in the midst of this uncertain economic pressure, friend, and it's not just you who feels it, almost everyone in the world feels the same way, this is hellish inflation.
every month the price of raw rice in my city rises by 1%, sometimes I wonder what the government is actually doing, why they are unable to overcome the inflation problem that is occurring, why there is no definite solution to reduce the difficulties experienced by the small people.
Easy solutions such as cash assistance every month, free access to health will really help people from low economic levels, for now, if you haven't received all of that, I hope you are patient, you have to be strong, enthusiastic about your children's future.

[Wakate]

Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more  bigger than this one.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

Please, whenever you are describing the amount of value of money it will be comprehensive for you to use sign of the currency or just equate it to dollar. I don't really understand the value of the amount in dollar but that shouldn't be a problem. Currently inflation is just everywhere. People keeps complaining about the high rise of food stuff and provisions. Does that mean that we are closed to the end of the world? The inflation is too high even in advanced countries, people are complaining of high rise of goods and the salary is not increased.

[Natsuu]

Pressure is really something. When things get tight economically, it's like doing a jigsaw puzzle with missing pieces. A budget can be your map to figure out where your money goes. Focus on the must-haves first like food and a roof over your head. If your income isn't cutting it, consider side gigs or learning new skills for a potential boost. It's all about adapting and finding ways to make the financial puzzle fit even when it seems like some pieces are missing.We dont have a choice, we need to survive and enjoy life as much as possible

[Sorryfor]

The current state of the economy is not very good. Especially the prices of goods are increasing day by day. Because of this, those in the middle and lower middle classes are threatened to run their families with little money at the end of the month. In such a situation, what the middle-class people should do is not to spend unnecessarily, eliminate unnecessary expenses, find different ways to earn money without depending on one medium. Spend the entire month according to a plan. It may still be stressful for us, but planning may bring some relief.

[Egii Nna]

This directly indicates the current pressure facing many countries presently around the globe. The mistake you made was using a local currency, but nevertheless, many countries in the world are suffering from inflation, and I know Nigeria is also one of those countries. It is not just African countries that are presently in this situation. Other countries that also face the same inflation, or even more than that of Nigeria, include the following: Turkey, Argentina, Iran, Venezuela, Ethiopia, Haiti, Ghana, Nigeria, and a lot of them, seeing all those countries facing the same issues of inflation, which is causing a trait to the world entirely.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

This is a great point of pressure and suffering because, even with a budget, it will be so simple for such a house to fulfil most of their needs as a result of their income. Many issues of hunger come from those families, and all these things are what trigger many crime rates in society, like thuggery, drug abuse, kidnapping, prostitution, and many more. The only solution to this inflation in a household is to allocate diverse ways of income, create a meal plan, pay all depths, have an effective review of the budget, open higher savings account and so on.

[pusaka]

I have to ask why someone have 3 children when they're only making 50k per year?  One of the things that I come across most while financially preparing people for retirement is those whom have a multitude of children, yet have low to "middle of the road" jobs, always have, and yet they still continued to have more children.  I honestly don't understand this. (I'm not saying this is the case with you necessarily, but in general).

Now this is also something I often encounter, someone who has a middle to lower economic situation, they have many children. One of the reasons I have encountered is also that they hope that one of their children can help their economy when they grow up. I'm not going to judge this as wrong or right, but we know the risks are always there, such as the child not getting enough education and so on.
In my own country, there is a government program that says two children are better, but not everyone agrees with it. Yes, I understand that this is our right because it is a recommendation. But here we also have to consider, do not let children become victims.

[TheUltraElite]

In my own country, there is a government program that says two children are better, but not everyone agrees with it. Yes, I understand that this is our right because it is a recommendation. But here we also have to consider, do not let children become victims.

You see this is why government policies have some logic behind them and people dont realize their bad habits. Having more children does not necessarily mean that your future income from these children will be multiplying - that will only happen if each of them gets educated and skilled enough to get an income of that standard to support themselves. If you cant pay for that first part, then forget about the second part.

In that way government who attempted to curb the number of children in a household have done a right thing in my opinion. Think twice before having more than one or two, if you are unable to feed them, use a condom. 

[sekalitas]

Pressure is something that no one would want to have at all there are some pressure that can even bring a man to see his end. So many things in this our human world can cause pressure to a man.
An example of this pressure am talking about is this our economy an economy where things rises everyday but no sufficient fund to back up with. Ok Imagine I bought a soup for 250 naira just after three days I went back to get the same soap I was told the soap is now #350 imagine me that have only 2k and have already scheduled how to spend it before I will expect something in the day coming this kind thing is another pressure I just dropped this one, there are many more  bigger than this one.

How can a family man who earns 50k with 3 kids and also paying for rent feeds and many more, how can he with stand this economy pressure where there is no stability no mouthwatering salaries at all. This days we wake up and pray things should get better but it's like our country does not accept prayers everyday increments.

It sounds like your income may be below the minimum wage in your country. I understand that this can be a difficult situation, and it's completely understandable to feel pressure to provide for your family. While enduring a low-paying job can be tough, there are ways to work towards improving your income. Investing time in learning new skills, like programming or freelance writing, can open up new job opportunities with higher wages. There are also online resources and training programs available that can help you develop your skills. Remember, progress takes time and dedication, so be patient with yourself and celebrate your achievements along the way.