Do you feel that the global economy is declining?

[AmoreJaz]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

And this is the very reason why aside from your major income earner, one has to find alternatives or other sources of income. It is up to you also on how you will manage your finances. If you think you need to tighten your budget, then, don't buy unnecessary things. Stick to your plans. You can always buy what you want if you have extra money.

Below are just few simple tips to survive in this economic challenge -
> Pay your monthly bills, don't delay as it may incur further charges
> Don't take a loan, if you don't need it (do take note of the interests involved)
> Use public transport as much as possible
> Make your own meal
> Live simply, don't buy extravagant/unnecessary items
> Tend your own garden, even a small/terrace-type one
> Practice de-cluttering, sell things that you feel you don't need anymore

[Reatim]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

I am yet to comprehend what you said about your friend because is it that the amount he earns is no longer enough to Carter for his daily expenses? If his salary is lower than it was 5 years ago that should imply that the cost of living has reduced as well because I don't see any reason why a government, individual or organization will reduce the salary of it's worker even when the cost of earning a living is very difficult in such a country. Maybe you should have given a proper and more comprehensive information about what you said

There’s so many ways to understand what op said.

Do they still have the same job after 5 years or did they get demoted or did inflation strike as harder as we would have liked and now even though we have the same salary, it has less purchasing power? Either way I can feel that way too.

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

[_BlackStar]

-snip-

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

I really want to say that it's not something that many people want - but it can't be helped, that's the reality they have to accept. Of course there is still an opportunity to increase their income level if they are interested in business and investment - however, most employees are those who are too absorbed in their comfort zone and find it difficult to consider risks.

There is no room for improvement if they don't want to move forward and accept risks - if they are only busy with their comfort zone, then real difficulties will await in old age. Businesspeople are those who have good hopes for the future, especially in preparing for their old age without having to work - but employees always find it difficult to get that if they don't have a side business.

[eightdots]

-snip-

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

I really want to say that it's not something that many people want - but it can't be helped, that's the reality they have to accept. Of course there is still an opportunity to increase their income level if they are interested in business and investment - however, most employees are those who are too absorbed in their comfort zone and find it difficult to consider risks.

There is no room for improvement if they don't want to move forward and accept risks - if they are only busy with their comfort zone, then real difficulties will await in old age. Businesspeople are those who have good hopes for the future, especially in preparing for their old age without having to work - but employees always find it difficult to get that if they don't have a side business.

Not everyone may have the opportunity to increase their income. Therefore, the fact that salaries do not increase, but product prices increase, reduces the living standards of many people. The failure of states to prevent this puts these people in a difficult situation.

Some people who have the capacity to invest do not prefer to take risks and try to live on their salaries. I'm not criticizing what these people do because they have the possibility of losing their money in risky markets. That's why these people do not prefer to invest in the risky market, and as the economy deteriorates, the purchasing power of their salaries decreases. There may be different ways to deal with this situation, but getting out of your comfort zone may not be as easy as you think.

[InfinityExists]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

In my country and experience salaries have increased but are still lagging behind inflation and rising prices.

[MiF]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

In my country the salary is not lower it is rising, but the price of goods is also rising 65 to 75% of its price five years ago. That is why even if the salary is rising the salary is still short to support the needs of the family almost every year the price of goods is rising but the salary is not so poor will become very poorest.

[Strongkored]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

[Smack That Ace]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

[angrybirdy]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

This is exactly what we need to do, believe it or not, those in government are just fooling us so it's better that we put ourselves first because nothing will happen if we continue to rely on what they do, we are the one who will adjust to what is happening because if we don't prioritize ourselves, we will be left behind. Yeah right, the only thing that we can do is to adapt the changes and just go with the flow.

[MissNonFall9]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

[Promocodeudo]

COVID19 had a very big effect on the global economy, Les we for during that period many country economy was already experiencing problem before COVID hit very hard and it happened very sudden, what some countries are facing today is as a result of the consequences of COVID, this is really a big issue and it will take a strategic plan from a good economic team to solve this kind of problem that is been faces by the world, another problemost countries are encountering today is bad leadership, th government of many country has failed to come open to tell their citizens the truth,mainly African countries, many African countries are experiencing food shortage and scarcity because their government refuse to do the needful, so for me the global economy is declining though many countries has been trying not to allow it to excalate to failed level.

[Smack That Ace]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

[Assface16678]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Exactly! With current situation right now in global economy or in your own country economy we cant solely rely on government yes they maybe doing something in order to help us but the thing is inflation rate or anything that could make our lives hard is inevitable, so its ab indication that we people as an individual should be the one that will make our lives better, or in order to survive in every daily basis, what I mean is that if you kmow your salary is not enough for you and your family and it is not enough for you to buy what you want and needs then you should do something, something that could maake you have extra income, for example doing investments or business, simple mske use of your intellectual or your talent in something, I'm sure all of us has its own talents and capability, make use of that in order to earn money in that way you will mot rely on government and wait for their promise that they will make the lives of its citizen better.

[wxa7115]

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

[slapper]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Exactly! With current situation right now in global economy or in your own country economy we cant solely rely on government yes they maybe doing something in order to help us but the thing is inflation rate or anything that could make our lives hard is inevitable, so its ab indication that we people as an individual should be the one that will make our lives better, or in order to survive in every daily basis, what I mean is that if you kmow your salary is not enough for you and your family and it is not enough for you to buy what you want and needs then you should do something, something that could maake you have extra income, for example doing investments or business, simple mske use of your intellectual or your talent in something, I'm sure all of us has its own talents and capability, make use of that in order to earn money in that way you will mot rely on government and wait for their promise that they will make the lives of its citizen better.

Government handouts in this economy? Forget it. Inflation's a monster, eating your money for breakfast. But waiting around? That's a loser's game. We do things differently.

The truth is, you've got the potential for greatness. Skills, ideas, whatever; that's your goldmine. Turn it into something real; side hustles, smart investments, maybe your own business. This is how you make it, not with your hand out. I know it's tough. But easy doesn't build empires. Stepping up, pushing yourself, that's where the true power lies.

Waiting on the government? Waste of time. What do YOU love? What are YOU driven to do? Figure that out, hone it, and we'll build financial security ourselves. Because at the end of the day, true freedom comes from knowing you made your own success. Isn't that the American dream, the human dream, after all?

[HONDACD125]

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

There is no doubt that everyone needs to strive to have more sources of income so that they don't face difficulties in hard economic conditions, but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

[Iranus]

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

There is no doubt that everyone needs to strive to have more sources of income so that they don't face difficulties in hard economic conditions, but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

I believe that governments and businesses want to increase wages for their people and employees. But that is not as easy as we think because if we also increase wages to match the increase in goods, controlling inflation will be even more difficult, and may even cause economic collapse. 

Similarly, instead of increasing wages, why doesn't the Government find ways to reduce commodity prices, simply because they cannot do it and face many difficulties due to related factors. With the design of fiat money that can be printed freely, inflation is inevitable. We need to adapt and the solution of finding extra income is what I find most effective.

[m2017]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Wage indexation occurs less than inflation increases, and over a long period of time, wages become less due to a decrease in the purchasing power of the money received.

There is no doubt that everyone needs to strive to have more sources of income

Each source of income requires time investment, and there are only 24 hours in a day. This creates a limit on income.

but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

What should be done does not mean what will be done. Employers rarely index salaries, because it is unprofitable for them. Why do this if employees are already working at the same rates.

Don't you think this will create a vicious circle? Prices are rising -> Salaries are rising -> Purchasing power is increasing -> Demand is increasing -> To please supply, prices are rising again.

The result is exponential economic growth with inflated prices and inflation. This is how a bubble grows in the modern financial system.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

These employees will simply be fired as a result of business optimization.

[justdimin]

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

Governments may not be all powerful, but at the same time we are talking about the place where we pay so much of our money. If they are capable of taking our taxes so much, I mean most governments literally get half of our income, then they should be able to help us during bad times as well, otherwise why are we even paying them?

I think we should be asking and demanding a lot more from governments and we are not really making it work and people who like to vote for certain people, end up not saying anything against people they vote for, which makes those people a lot more confident on taking our money and they just end up not making any improvements. We should reconsider that and start to just consider how we could make it work with a lot more demands from them in exchange for paying that much tax.

[MissNonFall9]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

That is why we should raise our productivity by inculcating economic values ​​along with self-awareness and by applying practical knowledge of financial management and accelerating the trade of essential goods and services. Since the global economy depends on the individual economy of each country, that is the development index of each country is determined depending on how much each country is contributing to the global economy, so each of us should work with awareness from our place as well as every government should support the efforts of the people in all these developmental works strengthening and extending cooperation.