Growing Up in an Inflation World: A Teenager’s Challenge

[sleepfirefly]

I’m sure many of you have noticed how frequently the price of goods and services keeps rising. This situation is what we all know as inflation.

Just a few years ago, items like phones, bottled water, bread, headsets, and other everyday goods cost less than half of what they do today.

this is true everywhere. inflation happens in all countries but inflation is worse in some countries

Growing up as a teen in an inflation-stricken country can be frustrating and exhausting. This is especially true in Nigeria, where most parents don’t support teenagers financially or allow them to work and earn something for themselves. Many teens are still in secondary or even primary school, so they have no chance to build independence.

In many countries, teenagers don’t need to rely fully on their parents to afford basic needs. Instead of teaching us how the system truly works and how we can start earning early by learning skills, many parents believe education alone is enough even when the cost of living keeps climbing.

what i am very impressed with america for example is that teenagers can work as early as 16 or even younger in fast food places or something like that but in my country the requirements are too high just for a minimum wage

the hiring process in my country is outdated and doesn’t support the current system anymore

[MainIbem]

I'm not being rude here, but please it's essential that you go through every single thing I wrote because I can remember vividly that I didn't ever say education or degrees are useless please. And I don't also think its useless but very important that children are been thought from an early age to acquire skills and not just depend only on education.

We all know that in the country we live in education alone isn't enough to guarantee one's success and that's why I like the point where u said the both has to work together.

We all should stop being sentimental here, I know that few parents accept their children to start earning early or start labouring early while still in secondary or primary schools, but most of us where thought to always pay attention to our books saying, as many would say "education alone is the key"

You just talked about how tough it is for teenagers who solely depend on their parents to survive during inflation and it's a fact especially in under developing countrie, I don't see anything wrong in what you said and anyone who think otherwise because you made mention of your country as reference is lying to themselves, because the country you mentioned is undergoing serious inflation and things are getting very tough and difficult for an average worker to carter for their families while depending on just one source of income talk more of teenagers that are mostly jobless cause of the high level of unemployment, lack of skills and I won't fail to leave out bad government. And yes, parents should understand that education is good but skill acquisition is also important especially for teenagers.

[uneng]

I watched a video on Youtube from an american citizen, probably around his 30 years old. He was comparing how long people need to work back on the generation of his grandfather to acquire a house to his father's generation and to his own. The conclusion is that progressively things are getting much harder to be achieved. Before, you just had to work 2 years in order to pay your house, then the next generation already had to work 3-4 years and the current one has to work 6-8 years...

And that is in USA, a first world country. The reality is much worse in third world countries, where people are working 20 years of their lives to have a simple roof over their heads. That is insane, and getting worse along the years.

If we don't create alternatives of thriving by ourselves, we are doomed in this world.

[retreat]

Inflation does cause many families difficulties, not only in Nigeria, but also in other countries feeling the same way, but perhaps the countries most affected are developing countries that have weaker economies, and are deeply affected by geopolitical conditions and an unstable global economy.  This is especially challenging for low-income families, who already struggle to meet their daily needs with their meager incomes, and they need to support their children. In such circumstances, it is best to teach children to live more simply and avoid buying unnecessary items or being tempted by a consumerist lifestyle that often burdens their parents' finances. These children should focus more on studying properly and developing skills that will help them in the future. This way, they can focus more on building a better life without burdening their families financially, and prepare themselves well to be able to get out of the economic difficulties that their parents may be experiencing at the moment.

[rat03gopoh]

Inflation may be something we can’t control,

In fact, ordinary people don't control inflation; that's the responsibility of the government, which controls the value of its currency. And no matter how hard they fight, fiat is set for inflation by default. You're only affected by it depending on the instruments in which all your assets are held.

but learning skills early and understanding how the economy works can help teenagers adapt and survive.

Skills are needed everywhere, even if you live in a developed country.

[icebar]

Inflation may be something we can’t control, but learning skills early and understanding how the economy works can help teenagers adapt and survive.

The rate of inflation will increase, some where it is at a tolerable level and some where it is excessive. In this situation, if a person cannot increase his own income, it will be difficult to survive. If boys who are capable of working are given technical education along with formal education, that is, if they can make themselves skilled, then they will be able to find their job.

It is difficult to create employment at present through formal education alone. Those who make themselves skilled along with formal education are the ones who are able to survive in adverse situations. If teenagers can develop themselves completely, then they will be able to sustain themselves even in bad times of economy.

[Findingnemo]

Inflation is very complex and tied with a lot of factors so let's skip that part and see how it goes here.

If you see the price of an item that is doubled in the last 5 years then yes that is the case in most part of the world which happened as a result of the government printing money to survive covid era.

And I can't understand the part, parents don't support their teen kids but they also don't allow them to work on their own? Then how it is even possible for the kid of have everything they wanted?

[WatChe]

Inflation may be something we can’t control, but learning skills early and understanding how the economy works can help teenagers adapt and survive.

Inflation is there to stay whether we like it or not and will increase with every passing year. Now it's up to us whether keep bearing it or take some measures to mitigate it's effect on our lives. The best way to eliminate effect of inflation is to increase our earnings. If you are doing job then understand that salaries are not increased to counter inflation that's why it's important for a salary people to increase it's earning by working extra like doing freelance work after office hours or a part time business etc.

[Stepstowealth]

Growing up as a teen in an inflation-stricken country can be frustrating and exhausting. This is especially true in Nigeria, where most parents don’t support teenagers financially or allow them to work and earn something for themselves.

It is a generalized thinking to assume that most parents in Nigeria do not allow their children to work. There are many parents who will allow their children who are of age to work, the problem there is just that they do not want them doing meager jobs which is mostly the sort of job readily available for teens, not jobs that are okay. Some parents may have it as a concern that letting their children get involved in these little jobs can distract them from their education, and considering the money they have invested in their education, the mostly do not want it wasted.

many parents believe education alone is enough even when the cost of living keeps climbing.

It is only old-school parents that believe such, new school parents understand the importance of skills because they are very aware of the system and how bad things have become.

[katebrownell86]

Appreciate the effort in starting this discussion. It’s always useful to see different viewpoints shared openly, as they help both new and experienced members gain a broader understanding. Threads like this keep the forum active and encourage healthy debate.

[Helena Yu]

How about the adults? they also face a high inflation rate, does their salary frequently adjust to the current inflation rate?

Many people are struggling in this year, the competition is really tight compared to other years. It's very hard to find a job that pays worthy in salary with the effort and time we spent, however if we want to work abroad, it's not as easy as that too. The embassy make it harder to allow people to work abroad because there are so many cases and their current immigrants make mistakes which cost to the future immigrants.

[Coyster]

How about the adults? they also face a high inflation rate, does their salary frequently adjust to the current inflation rate?

As a Nigerian, i can tell you that some employers do review their salary structure and make adjustments, but it hardly makes a dent. Inflation is growing far faster than salaries, so any salary adjustment is insignificant, especially for low-income earners. And a lot of people fall under this category.

For any salary adjustment to be significant, then the government has to control inflation. As long as it continues to grow at this pace, the people's purchasing power will continually reduce, therefore reducing the standard of living.

[Berry2d]

How about the adults? they also face a high inflation rate, does their salary frequently adjust to the current inflation rate?

As a Nigerian, i can tell you that some employers do review their salary structure and make adjustments, but it hardly makes a dent. Inflation is growing far faster than salaries, so any salary adjustment is insignificant, especially for low-income earners. And a lot of people fall under this category.

For any salary adjustment to be significant, then the government has to control inflation. As long as it continues to grow at this pace, the people's purchasing power will continually reduce, therefore reducing the standard of living.

Over 60 percent of citizens living and surviving now are low income salary owners who's responsibilities has grown beyond the expected income all because of an uncontrollable inflation. I agree with you on the above mentioned statement, in as much as the inflation is still high know amount of salary increase can provide permanent solution to the problems because the increment can never be equivalent to level of inflation currently now, which the permanent solution is inflation control by the government and a price control system that will govern the price of products

[Cryptoprincess101]

Growing up as a teen in an inflation-stricken country can be frustrating and exhausting. This is especially true in Nigeria, where most parents don’t support teenagers financially or allow them to work and earn something for themselves. Many teens are still in secondary or even primary school, so they have no chance to build independence.

As a teenager, the major support from your parents is education. If your tuition fees are paid by your parents, then you shouldn't worry much about other things. There is no need to be in a hurry to earn or work at an adolescent age because sometimes making money at a tender age can cause you to be distracted from your studies so sometimes it is a valid point for you not to get exposed to money. That notwithstanding, it also depends on your age, if you are up to 18 or 19 which is considered an adult age, you can start making your own money. The thing with African families generally, not only Nigeria is that parents are so protective of their children and they always want to have custody of their children because if they start earning their own money, they will start developing the feelings of independence and decide to run away from home.

[Cryptomultiplier]

I’m sure many of you have noticed how frequently the price of goods and services keeps rising. This situation is what we all know as inflation.

Just a few years ago, items like phones, bottled water, bread, headsets, and other everyday goods cost less than half of what they do today.

Growing up as a teen in an inflation-stricken country can be frustrating and exhausting. This is especially true in Nigeria, where most parents don’t support teenagers financially or allow them to work and earn something for themselves. Many teens are still in secondary or even primary school, so they have no chance to build independence.

In many countries, teenagers don’t need to rely fully on their parents to afford basic needs. Instead of teaching us how the system truly works and how we can start earning early by learning skills, many parents believe education alone is enough even when the cost of living keeps climbing.

Take phones as an example. The average teenager can barely afford a brand-new device in Nigeria today because of high inflation. Even older models that used to be cheap are now expensive.

Inflation may be something we can’t control, but learning skills early and understanding how the economy works can help teenagers adapt and survive.

It isn't easy to survive inflation in many countries even with bitcoin investment going through dips and volatility.

For a teenager, it is more about having and being disciplined about financial habits and growing the knowledge because sincerely, no one would do that for you.
You have to find a way to do your own research and educate yourself financially on the best principles to adopt, you got to learn to know how to draw up and implement a working budget as this would help manage expenses, you must try to increase your earning capacity and have multiple sources of income and the most important is how to diversify and turn your savings into profits that is far more than you would have had if you didn't put in the work.

This is the only way to beat inflation and be among the elites who don't feel the impact of inflation a bit.

[Makus]

Not saying that teens don't need money but at that age you are meant to be provided for because you only have one job at that age and that's developing yourself educationally. unless you don't have guardians or anyone to help you out then in such situation it would be difficult to survive. Ths Inflation is here to stay whether we like it or not and it affects both adults and teenagers as well, it's even worse for adults that has responsibilities to take care of, how do you think they get by? Teenagers should learn valuable skills at that age and take their education seriously because it would definitely pay off in the long run

[Coyster]

...you must try to increase your earning capacity and have multiple sources of income and the most important is how to diversify and turn your savings into profits that is far more than you would have had if you didn't put in the work.

Lol, are we still discussing teenagers here, because how do you expect a teenager to possess all of these. Multiple sources of income you say? Are you kidding me. Diversification? How much do you think teenagers make anywhere in the world. I already dismantled most of the context in the OP in my first post and now this. I would just reiterate that teenagers are largely under the guidance and provision of their parents and in most cases they do not need anything but to do well in school.

[Bazzu]

.......

Thanks alot "bazzu" for helping me show them an image so they can see what we see, I appreciate a lot. Y'all keep encouraging me every day. I was currently thinking how I could explain more until I saw this, and I recommend others to view this to understand more and get where I'm coming from.

Now imagine an average teen probably in secondary School or primary still depending on their parents with their own needs in an inflation country as Nigerian

You're welcome. I'm just curious, and it seems that inflation there is quite high, just as you said. And struggling there will not be as easy as in countries with lower inflation rates, such as my country, Indonesia.

However, people who live in difficult situations usually become better and mentally stronger individuals. And they will know better how to appreciate life.

Here is a comparison of the data from the source I visited.

(..... )

Perhaps in 2025, the situation will improve slightly. However, I believe the number will still be quite high. I was surprised that at the end of 2024, the number was even above 30%.

(...... )

In 2024, Nigeria appears to be experiencing level 3 inflation, which is severe inflation (inflation above 30%) that will certainly harm the economy there. However, in 2025, it seems that the inflation rate there will drop to level 2, which is moderate inflation (inflation of 10-30%). Level 2 is actually still quite dangerous, even for those with a fixed income, and will be even worse for those with an irregular income. However, their inflation rate is now approaching 10%, although it is still at 16%. I think that given the month-on-month decline this year, Nigeria will soon recover and their economy will improve in the coming years.

Meanwhile, Indonesia remains at Level 1 (below 10%), indicating that our economy is relatively healthy. We should be grateful for that.

We should even learn from Nigeria. They managed to reduce their inflation rate quite quickly, from 30% to 16% in just one year. I think that's progress. Meanwhile, our country has actually experienced an increase in inflation, although not by a large amount.

But I agree that we should be more grateful that our country is not experiencing high inflation.

But here, the challenge for young people to achieve success is still not easy. In fact, the number of unemployed people is quite high. But here, the number of people starting businesses is also very high.

[Zlantann]

How about the adults? they also face a high inflation rate, does their salary frequently adjust to the current inflation rate?

Many people are struggling in this year, the competition is really tight compared to other years. It's very hard to find a job that pays worthy in salary with the effort and time we spent, however if we want to work abroad, it's not as easy as that too. The embassy make it harder to allow people to work abroad because there are so many cases and their current immigrants make mistakes which cost to the future immigrants.

Inflation is affecting almost all the economies of the world. This has led to the closing down of businesses, which of course increases the rate of unemployment. People in developing nations who are facing higher inflation are moving to developed nations for work and better pay. I can tell you from experience that life in these top nations is getting worse.  High taxes, long working hours, and an increase in the cost of living are eating deeply into their income. Some of these countries are also facing an infrastructural and social services crisis due to a high population of immigrants. This has also given rise to anti-immigrant movements, which are making life miserable for non-citizens. In my view, it will be fine to remain in your country and seek better options to earn additional income.

[Jubilee58]

I’m sure many of you have noticed how frequently the price of goods and services keeps rising. This situation is what we all know as inflation.

Just a few years ago, items like phones, bottled water, bread, headsets, and other everyday goods cost less than half of what they do today.

Growing up as a teen in an inflation-stricken country can be frustrating and exhausting. This is especially true in Nigeria, where most parents don’t support teenagers financially or allow them to work and earn something for themselves. Many teens are still in secondary or even primary school, so they have no chance to build independence.

In many countries, teenagers don’t need to rely fully on their parents to afford basic needs. Instead of teaching us how the system truly works and how we can start earning early by learning skills, many parents believe education alone is enough even when the cost of living keeps climbing.

Take phones as an example. The average teenager can barely afford a brand-new device in Nigeria today because of high inflation. Even older models that used to be cheap are now expensive.

Inflation may be something we can’t control, but learning skills early and understanding how the economy works can help teenagers adapt and survive.

Life is a stage, and we stand to face every challenge that every stage brings. As a child or a teenager, you are cared for by your parents and it is their responsibility to Carter for your needs irrespective of inflation and economic situation. It is the duty and responsibility of parents to plann the future of their children and enable a bright future for them. Some parents start planning for their children immediately they gave birth to them, so that from the first day that child was born to the age of eighteen years, that child already has a solid financial foundation to build from.

As a teenager, if you are allowed even to Carter for some of your needs, it can make you loose focus in life and be chasing after your survival. As a teenager, your life has to be built, you need proper academic training, you equally need some skills and when all necessary things have been given to you, then you are fit to provide for yourself.