how to survive inflation and economy hardship

[NurseHub]

It's not only about cutting down expenses; most people even spend more in a month than they receive.
I believe if we are able to acquire new skills and practice them as a side hustle to add to our monthly salary, it will help.
I know someone who, before the end of the month, will finish his salary not because he overspends but because of the cost of living, and his salary is not even enough for him.
The economic system also has a way of helping us cut some expensive costs. 
Employers are not even helping matters because their pay is very low compared to the job you offer. And as a salary earner,one should try as much as possible not to exceed two months salary for rent. To also add up, we should try to buy food items in bulk; it will really help cut down on expenses.
 

[jaberwock]

In fact many people are worried about their money but in economy everyone has to work together in this matter of economic dependability in the world regardless of economy everyone has to suffer because of it many people were worried about their income but others are losing their money continuously so  All should unite to protect the economy of the country

Not all are worried especially if you are rich because even if you lose some of your money you still have more left. We have what we called personal economy of an individual and there is also a general economy of a country which in order to make it better all must work together. It is only sad to know that some people are selfish and there are some who don't care at all about this matter but what is funny is they can complain if they experience a difficulty and even blame other people and the governments for this. When an economy of a country is down, not all people are going to suffer, especially if they have a sufficient fund to support their needs.

[angrybirdy]

In fact many people are worried about their money but in economy everyone has to work together in this matter of economic dependability in the world regardless of economy everyone has to suffer because of it many people were worried about their income but others are losing their money continuously so  All should unite to protect the economy of the country

Not all are worried especially if you are rich because even if you lose some of your money you still have more left. We have what we called personal economy of an individual and there is also a general economy of a country which in order to make it better all must work together. It is only sad to know that some people are selfish and there are some who don't care at all about this matter but what is funny is they can complain if they experience a difficulty and even blame other people and the governments for this. When an economy of a country is down, not all people are going to suffer, especially if they have a sufficient fund to support their needs.

I don't think some people are selfish, maybe there's a reason behind that? I mean who is going to cooperate if the people in the government pull you down? It's true that when a country has a problem, everyone is affected but not everyone can complain because they have a source of what they need, they have a privilege in life because they worked hard for it, it's the same now everywhere you look, we are striving hard to survive and we're all experiencing survival mode in our economy but cooperation is still not lost, especially if the high officials can cooperate and listen to all the grievances and requests of the people.

[electronicash]

when farmers in our country are struggling to grow crops, it's going to make economic hardship worse and then food supply will also be affected. most of the complaints are due to the government policy and climate. once we are in this situation already, the hunger will turn neighbors to neighbors and people will steal for food.

surviving is going to be easy iff there is just a food supply. the government can subsidize when there is just a food supply but if none then we are on our own. i think there is the need for everyone to just plant something before it's too late. maize or some potatoes.

[Yamifoud]

I'm not an economic expert here but the only thing we can do for now in order to fight against inflation and survive is to change our lifestyle in the simplest way especially if we are just a minimum wage earner. We also have to multiply our sources of income, invest more if we have money today, and not wait for the situation that we are in the struggle with how to do it especially if we are jobless. Perhaps, there are a lot of opportunities to earn money, we just need to leave from our comfort zones.

[Gaza13]

I'm not an economic expert here but the only thing we can do for now in order to fight against inflation and survive is to change our lifestyle in the simplest way especially if we are just a minimum wage earner. We also have to multiply our sources of income, invest more if we have money today, and not wait for the situation that we are in the struggle with how to do it especially if we are jobless. Perhaps, there are a lot of opportunities to earn money, we just need to leave from our comfort zones.

What you said above is correct, this is what everyone needs to do, in order to survive the inflation that is played every year by the government,  If we are not good at managing finances and increasing our income, we will certainly lose out on these life circumstances.

What you say is also true, if we have more money, it would be better if we invest the money in this way to protect the value of our wealth from inflation and Even if we invest by choosing the right assets, of course we will also get profits from that investment.

[Moreno233]

For me cutting down expenses would be another way of adding value to our money. Like cutting down the rate we eat, for those that spend alot on food, you can do better without over eating. the way we buy unnecessary items that has no value, when we have other useful things to do with money. So  lets focus on the top priorities, expecially things that will bring more Money.

When I see this line of thought, it simply remind me how people are oblivious of the main problem confronting majority of people especially in third world countries which is people being heavily underemployed. In most of these countries, salaries for graduate job is hardly even enough to meet basic needs, in such situation how do you cut down expenses? Do you want to starve or sleep on the street? I know some countries where the minimum wage cannot afford a bag of rice even without the other ingredients needed to prepare the meal. The economic situation in most countries is terrible, the reason people are massively migrating to Europe and the US. I think the international community must urgently work out a universal survival consensus where all politicians must be forced to sign so that when they assume office, that will be their template. It has become imperative to adopt this method because economic crisis in any country of the world have direct impact on other countries.

[ultrloa]

I'm not an economic expert here but the only thing we can do for now in order to fight against inflation and survive is to change our lifestyle in the simplest way especially if we are just a minimum wage earner. We also have to multiply our sources of income, invest more if we have money today, and not wait for the situation that we are in the struggle with how to do it especially if we are jobless. Perhaps, there are a lot of opportunities to earn money, we just need to leave from our comfort zones.

What you said above is correct, this is what everyone needs to do, in order to survive the inflation that is played every year by the government,  If we are not good at managing finances and increasing our income, we will certainly lose out on these life circumstances.

What you say is also true, if we have more money, it would be better if we invest the money in this way to protect the value of our wealth from inflation and Even if we invest by choosing the right assets, of course we will also get profits from that investment.

The simplest action to do with this case is to live within your means since if we exceed on our spending's and leave a luxurious life since we always think about we only live once then provably we really suffer for that attitude.

But if we know how we can asses or handle well our finances and if we see that we are always negative on monthly budget we allocate then find another extra job that can give us extra funds to use since if we just extend the efforts we made for sure we can live without getting any problem on how to find food everyday. Investment is really good and its crucial for people to find legit one so they should do a lot of research to know what's best for them and what is bad investment for them to avoid.

[FanEagle]

Sometimes you don't. As in you do go deep in debt, why do you think the entire world is in trillions of dollars debt, I mean who do we all owe this debt to? A lot of people all around the world all owe debt to banks, in trillions, you think that just happened overnight? Most of us have a lot of debt, and sometimes we fail to pay it.

The global default rate is rising, which means that more and more people failing to pay their debt as well. Just to give an example, I need about 1200 dollars to survive, I make about 900, meaning I am in minus 300 every single month, that is just one single person, one example, now multiply that with billions of people all around the world. Of course there are ones who survive, but don't feel bad if you can't.

[ancafe]

What you said above is correct, this is what everyone needs to do, in order to survive the inflation that is played every year by the government,  If we are not good at managing finances and increasing our income, we will certainly lose out on these life circumstances.

What you say is also true, if we have more money, it would be better if we invest the money in this way to protect the value of our wealth from inflation and Even if we invest by choosing the right assets, of course we will also get profits from that investment.

Managing finances is very important amidst inflationary conditions and most people find it difficult to deal with the impact of inflation because they do not have a stable income. To deal with inflation we must be able to adjust expenditure and income because if the two are not balanced it will have an impact on their life journey. Facing inflation is not when it is happening because if at that time we just start investing it will not provide a solution because we will face all possibilities of an increase in goods.

That's why it's important to have a way to manage finances, build investments and develop a business because this should be done long before inflation occurs. If these three things are done when inflation hits, I am sure people will find it difficult to find solutions to solve every financial problem that occurs.

[Nwada001]

As for what individuals can do in the face of economic hardship, it is all about money management. It is not necessarily about "eating less" as OP puts it but a general management of whatever amount of money you earn or can earn. It could be cutting extra costs (eg. a bad habit like smoking could be quitted), it could be taking up more shifts or doing an extra work to earn a little bit more money, and of course it could be investment so that you are not bag holding fiat that keeps losing value.

This is where most people have problems; they channel the blame on low resources instead of tackling those unnecessary wants they spend on and focus only on their basic needs, which is what can give them a healthy life. 
 
Someone can still earn a small amount of money and live well compared to someone who is earning a lot with much higher expenses, which ordinarily are not necessary, and the more people earn, the more they will increase their expenses, which is one of the reasons why they don't have savings.
 
One thing is to earn money; the ability to manage it properly will determine what that money can do for you.

[batang_bitcoin]

The global default rate is rising, which means that more and more people failing to pay their debt as well.

Just for example with the US debt, it's said that it keeps on rising to $1T per hundred days and that certainly a lot without any other effort at all.

Just to give an example, I need about 1200 dollars to survive, I make about 900, meaning I am in minus 300 every single month, that is just one single person, one example, now multiply that with billions of people all around the world. Of course there are ones who survive, but don't feel bad if you can't.

Thanks to inflation, purchasing power of $900 has decreased over time while before it's so much already. This time, it's not almost enough for a normal living guy and how much more with those families and kids that they need to provide things as well.

[Dewiana]

Cutting expenses can work only for people who are earning enough but are overspending, but most people in bad economic situations are those who don't earn enough to be able to survive when inflation rises to extreme heights. You can't cut costs when you are already saving money on food by eating twice or sometimes once a day. That is how some people live in such economic situations.

We think we are the ones who are affected badly by inflation but we are not. We are simply wasting a lot of money on useless things without even realizing it, but if you look around you, some people sleep on the roads and barely eat food for the whole day. They don't have homes, jobs, or anything. Imagine asking for help the whole day and getting a few bucks and then not being able to get a whole meal because of high rates of food and stuff.

So, inflation affects everyone, but only some people can have a solution for it and many wouldn't even have those solutions available for them.

Currently everyone has started to feel the movement of inflation, another thing we can do independently is to use agricultural land both to get results from the agricultural land and also for personal kitchen needs, because currently the prices of all goods are rising, such as vegetables, rice and The price of gold has also risen extraordinarily, plus people are spoiled by credit goods, even though income and expenditure are not balanced, but society seems to be affected by discounts even though credit goods clearly narrow the economic space. Another thing is that due to inflation every year there is an increase in employee salaries, job opportunities are limited and the government is currently unable to provide other solutions, the only thing that exists is social assistance which does not last long.

[Manlikefrank1]

Sometimes looking towards increment in salary wouldn't solve our problems.Over the years there has been hardship in the economy all over the world, and people complain on how to increase there salary or have other alternatives of getting more funds, and even when they get what they desire, they still complain that since their source of income has increased, there expenses has also increased. But I think that people needs to control the way they spend, in other to be able to save more. If paraventure we decided to spend according to how we earn without reducing the level of spending, we may end up not being productive.

For me cutting down expenses would be another way of adding value to our money. Like cutting down the rate we eat, for those that spend alot on food, you can do better without over eating. the way we buy unnecessary items that has no value, when we have other useful things to do with money. So  lets focus on the top priorities, expecially things that will bring more Money.

What do you guys think about this? Would this be helpful? And what do you think will help us in this time of economic hardship?

Am sorry I have to change the topic of discussion from how to reduce inflation to how to survive inflation and economic hardship sudjested by sokani.

When talking about increment of salary can’t help economy hardship or inflation but rather still increase the price in market the more.when tackling Surviving economic hardship requires a combination of practical strategies and mindset adjustments.for instance Budgeting,Create a realistic budget to track your expenses and prioritize essential items.
Emergency money, Save up an emergency fund to cover unexpected expenses or loss of income.

When also looking at this we have to reduce expenses, we need toCut down on non-essential expenses such as dining out or subscriptions. And a very important one is debt management,Prioritize paying off high-interest debt and consider consolidating or negotiating lower interest rates and which is bad in a system where there is hardship in the economy. Again we can also look at side hustle to make extral money to help your self and not relying on only on means of income but by diversification of ways of making money in the economy when there’s a hardship in the economy.

[passwordnow]

Someone can still earn a small amount of money and live well compared to someone who is earning a lot with much higher expenses, which ordinarily are not necessary, and the more people earn, the more they will increase their expenses, which is one of the reasons why they don't have savings.

There is also a lifestyle inflation and those that are earning with a higher amount also increases their way of living. It is happening to many but if you do notice this happen to you after you've earned big then you need to lessen your unnecessary expenses because you're dealing with a lifestyle inflation. Just because you think that you're earning high and you can sustain that lifestyle doesn't mean that you have no point in life that you're going to get less, no, it doesn't go like that and that's why you need to live frugally and only spend for necessary things and remove all of those subscriptions that you don't really need. While for those that earn less, they are prioritizing the expenses that they need in their lives and that's why they're able to live well with it because they don't have much unnecessary spendings.

One thing is to earn money; the ability to manage it properly will determine what that money can do for you.

Inflation is there and won't be gone and the only thing we do is to do something that will allow us to go along with inflation and that's right, we need to earn money, more money. That's how we fight the inflation and if you're earning more then you'll be able to invest as well and that's going to make your money work for you and eventually, you'll practice it and the principle that you're having by living frugally, investing and minimizing your expenses will help you achieve financial freedom but you need a lot of work for it.

[Bushdark]

when farmers in our country are struggling to grow crops, it's going to make economic hardship worse and then food supply will also be affected. most of the complaints are due to the government policy and climate. once we are in this situation already, the hunger will turn neighbors to neighbors and people will steal for food.

surviving is going to be easy iff there is just a food supply. the government can subsidize when there is just a food supply but if none then we are on our own. i think there is the need for everyone to just plant something before it's too late. maize or some potatoes.

Government policies keep affect people even the farmers increasing the price of goods and services.
If the government could pay subsidy for many of the products that we are using especially for the farmers and people that there jobs depends on the economy growth, things would get better soon. Something inflation has been one of the problems why the price of goods are becoming very expensive and when people an not bear it anymore, it will lead to more of cime in the society.

[Yukyzu]

when farmers in our country are struggling to grow crops, it's going to make economic hardship worse and then food supply will also be affected. most of the complaints are due to the government policy and climate. once we are in this situation already, the hunger will turn neighbors to neighbors and people will steal for food.

surviving is going to be easy iff there is just a food supply. the government can subsidize when there is just a food supply but if none then we are on our own. i think there is the need for everyone to just plant something before it's too late. maize or some potatoes.

Government policies keep affect people even the farmers increasing the price of goods and services.
If the government could pay subsidy for many of the products that we are using especially for the farmers and people that there jobs depends on the economy growth, things would get better soon. Something inflation has been one of the problems why the price of goods are becoming very expensive and when people an not bear it anymore, it will lead to more of cime in the society.

When the government cannot issue policies that benefit small communities, of course this will make it very difficult for them to survive with the prices of every good and service increasing while the community has difficulty in earning enough income to meet their needs, providing subsidies to the community will indeed be able to help. restore the economic condition of society and if we always hope for subsidies provided by the government of course this will make the burden on the government continue to increase and it would be better for the government to issue policies that can control the prices of goods that can be reached by people with low incomes so that they do not have difficulty in fulfill their needs.

[gunhell16]

I'm not an economic expert here but the only thing we can do for now in order to fight against inflation and survive is to change our lifestyle in the simplest way especially if we are just a minimum wage earner. We also have to multiply our sources of income, invest more if we have money today, and not wait for the situation that we are in the struggle with how to do it especially if we are jobless. Perhaps, there are a lot of opportunities to earn money, we just need to leave from our comfort zones.

This inflation is our problem for several decades, and we can overcome it with the mercy of God as long as we are strategic people. And besides, there are many ways that we can survive in a time like this when prices are high.

All countries are also facing this inflation, but the number one thing that can somehow do it is that if the people sitting in our government, the officials, are smart and good, for sure they can somehow lower it if they find a way.

[jrrsparkles]

Better management of your expenditure and increasing the source of your cash flow are the possible solutions to survive the inflation. Just do anything, whatever it takes to ensure you have money left to spend before the next pay day. There is no way we can stop this from happening cause it's government and policies are the actual contributors for any kind of inflation.

[Jody.Drummer]

Better management of your expenditure and increasing the source of your cash flow are the possible solutions to survive the inflation. Just do anything, whatever it takes to ensure you have money left to spend before the next pay day. There is no way we can stop this from happening cause it's government and policies are the actual contributors for any kind of inflation.

That's right, in any case and in any situation, management is the most important aspect that must be owned and applied by everyone, especially when it comes to finances in life, plus inflation is always a big problem for everyone, of course everything comes back to Moreover, for each of us, other people will not care about whatever we experience because they also experience the same difficulties. So we are the ones who have to find smart ways to overcome the problem of the increasing need for life, one of which, as you said above, is doing whatever can save our finances or expenses.

Reduce your lifestyle and learn to identify things that are actually not important to buy, then spend that money only on things that you really need based on careful consideration, and apart from that, always try to take advantage of every opportunity, which means for example you If you have a smarter way to reduce expenses then yes, do that, for example planting something or vegetables in the area next to the house that can be consumed without having to buy it at the market, of course there is always an opportunity as long as we can take advantage of it.