Increasing cost of living - how can we cope?

[Aliciaworld]

When prices increases and our income remains the same, we tend to be anxious and stressed especially if we have a family to care for. As individuals, we cannot curb the rising cost of living but we can actually cope with it.The first step is by accepting the reality which will help you to be calm and when you are calm, you think clearly enabling you to make the right decisions on how to cope with the changes which may include having multiple sources of income, adjusting our priorities and spending habits such as    avoiding          extravagant spending. Also being contented and living within our means may go along way as it helps us to avoid unnecessary debt and stress, also we do well to save for unforseen event such as health issues, lost of job etc.
 

[Gozie51]

Apart from trying to have multiple source of income which is also difficult during hard times, the best thing to do is to cut down on expenses. There are expenses we do that are extravagant and unnecessary, which means without them we can still survive. For instance when it comes to feeding, there are some food items that have substitude or alternative which are cheaper. The reality of such times is that you have to adjust but not to eat what won't give your body the necessary vitamins, minerals and other nutrients but at a lower cost. Also in shelter, we have to cut down on luxurious lifestyle and take lesser risky endeavours so that we don't incur further debts.

[DYOR+BTC]

When prices increases and our income remains the same, we tend to be anxious and stressed especially if we have a family to care for. As individuals, we cannot curb the rising cost of living but we can actually cope with it.The first step is by accepting the reality which will help you to be calm and when you are calm, you think clearly enabling you to make the right decisions on how to cope with the changes which may include having multiple sources of income, adjusting our priorities and spending habits such as    avoiding          extravagant spending. Also being contented and living within our means may go along way as it helps us to avoid unnecessary debt and stress, also we do well to save for unforseen event such as health issues, lost of job etc.
 

The constant increase in the cost of living over the days is getting so appalling and disgusting that it is very difficult to bear without the increase in income, accepting reality and adjusting to suit the current situation is the only solution as we can't do anything to change the situation because the leaders are so determined to frustrate all only for one reason which selfishness and greed.
Apart from adjusting to the current situation on ground,  decision making is also necessary as it will help put one in the right track, note the decision most be a good one and not just anyhow decisions because a wrong decision is same as  nothing as one most still remain stagnant.

[uneng]

The frustration comes because, after all, it's like chasing your own tail. You work hard, you put a lot of effort on daily tasks, but it's never enough, because you can't grasp the increasing living costs. Doesn't matter what you do, you are always one step beyond inflation, forced to consume the worst products available on the supermarket, the most disposable clothes and accessories, and to give up on travelling to where you would like to due to expensive prices.

It's a harsh situation and even worse for those who have a family to supply. There aren't many expectations these days. You can cut expenses, you can learn how to cope with the situation, but these aren't solutions too, anyway.

There isn't a sure answer for this question. The conclusion I reach is that there are two driving forces in this world: the good and the bad ones. The prevailing one will be determined through humans' free will. The problem is that nowadays the bad force is prevailing, so there is this sense that nothing works right, everything is out of place, a feeling the world is strange. As consequence, you have hopelessness or the simple coping mechanism of accepting this wicked reality how it is (mediocrity).

[Dunamisx]

Every one of us should not rely on a single source of income, therefore we should try as much as possible to ensure that we have other alternative sources to what we do so that we will not be stranded at any point, the economy is not stable and things keep changing each time, we have to plan more and ahead before such time, we can't afford to be caught unexpectedly in situation to find it difficult in affording a living because inflation is affecting the entire economy and things are becoming more unaffordable.

[programmer3666]

Honestly, the best thing to do is try to cut down on unnecessary expenses and focus more on saving. Because as it stands now, prices are going up everywhere and it is affecting almost everything, so we just have to be more careful with how we spend. It also helps to prioritize important needs and avoid spending on things that are not really necessary. If possible, finding small ways to earn extra income can also help. But overall, managing what you have wisely is key, because we don’t really know when things will get better.

[UpTober]

We need to reduce our extra expenses and save as much as possible because the future will not be easy for people to live in. On the one hand, people are losing to technology, that is, technology is taking away people's jobs, on the other hand, the global economic impact is making people's lives difficult. From now on, we need to plan separately for the future through the money that a person will earn, otherwise it will be difficult to live in the future.

[GeorgeJohn]

Apart from trying to have multiple source of income which is also difficult during hard times, the best thing to do is to cut down on expenses.

This is the best solution to adapt on inflation, minimising your expenses, that will help a lot, so that you will not face hardships challenges, because going into some business you're not familiar with, that can contribute for more hardships if its not well handled

There are expenses we do that are extravagant and unnecessary, which means without them we can still survive.

Some us live a life that is higher than our incomes and that's why we do face more challenges if we fails to expend according to our monthly incomes...A downfall of a man starts when the man fails to plan properly...so reducing our needs and wants to our satisfaction, it will make us to adapt to the current economy of the country....

For instance when it comes to feeding, there are some food items that have substitude or alternative which are cheaper. The reality of such times is that you have to adjust but not to eat what won't give your body the necessary vitamins, minerals and other nutrients but at a lower cost. Also in shelter, we have to cut down on luxurious lifestyle and take lesser risky endeavours so that we don't incur further debts.

Theirs no way to repeat things, the instances allow is well understood, that if cost of living is high, we have to minimise the things we do, or how we spend on our household to sort the current condition of the country inflation.

[passwordnow]

Also being contented and living within our means may go along way as it helps us to avoid unnecessary debt and stress, also we do well to save for unforseen event such as health issues, lost of job etc.

Not "may go along" but it will actually go along because it is giving us the gratitude that we're already contented and there's no need that much for unnecessary spendings. We're only going to take care of what we actually need and will remove all of those wants that might cause us to spend more. But no one stops from having the wants, for as long as you can take care of it and it will not hurt your budget and pocket, everyone is free to do that. Just make sure that the bills are paid and we've got food to eat.

[Spaceman1000$]

When prices increases and our income remains the same, we tend to be anxious and stressed especially if we have a family to care for. As individuals, we cannot curb the rising cost of living but we can actually cope with it.The first step is by accepting the reality which will help you to be calm and when you are calm, you think clearly enabling you to make the right decisions on how to cope with the changes which may include having multiple sources of income, adjusting our priorities and spending habits such as    avoiding          extravagant spending. Also being contented and living within our means may go along way as it helps us to avoid unnecessary debt and stress, also we do well to save for unforseen event such as health issues, lost of job etc.
 

You did well in mentioning what we should do when faced with such economic reality, however you didn't recognize the aspect of the government and their responsibility, because regardless of the survival mechanism you want to adopt, if the government doesn't subsidize some of aspect of the economy especially the energy sector, whatever you think you will be saving, will be vanishing within your very before, this is because prices will skyrocket, those essential things you would want to shrink your spending towards would be expensive and it will eat deep into your saving. So in doing your survival mechanism, you should also call out the government to step into areas necessary.

[Agbamoni]

The first step is by accepting the reality which will help you to be calm and when you are calm, you think clearly enabling you to make the right decisions on how to cope with the changes which may include having multiple sources of income, adjusting our priorities and spending habits such as    avoiding          extravagant spending. Also being contented and living within our means may go along way as it helps us to avoid unnecessary debt and stress, also we do well to save for unforseen event such as health issues, lost of job etc.

This is the first step to failure. I reject taking this step, hoping for financial freedom.
For me, the first step is to take the bull by the horns. Engage in the recent happenings of the world, and interact with those who can help your life get better. Find a new job or start a new skill that pays well yearly.

Adjusting to the current situation of the world will make you stagnant in life. There will be no progress, and gradually you will be adjusting towards poverty.

[Akbarkoe]

After accepting the reality of life then you have to understand how financial management is very important to have in surviving in this era that fully requires money as a form of cost in buying many of these needs, we will not have a bear problem if you know a lot about money management and the world of finance, because a little more you will read a wider world about money so that it allows you to think about having many sources of income, business investments and others as a means for you to find additional money so that your life is not too worried about costs, most people cannot measure the ability to make money and the cost of living so that their finances are disorganized and dangerous when something happens that makes him unable to have income anymore.

[Accardo]

At this economical point it's the best time to be frugal with expenses to obtain a sustainable enduring period. Citizens have this option to help stretch out the reach of their financial capacity, instead of blowing it up or throwing it out the window, keeping some funds aside for critical moments like this helps to maintain financial confidence, even in a strong economic condition.

Building additional sources of funds is a nice thing to do at surviving this challenging times, but the process it takes to make up something new that fetches money has developed so badly that most citizens battle to hit their goals in creating a new business.

However, they is nothing to fear, the system is designed that way to make building fresh ideas more difficult, so as to get more people unemployed.

[Jewan420]

Our standard of living cannot and should not remain the same. To survive in an increasingly changing economy, we have to adapt to the situation and environment. It is easy to say that increasing our income is very difficult in reality. We can try, but it is difficult to actually increase our income.

However, it will be easier for us to adapt to the situation and make a habit of meeting our needs with less expenditure. If you develop this habit, then it is possible for you to adapt in any economy. Expenses are constantly increasing, but our income is not increasing significantly. There are many ways to deal with this problem, but it is individual. Some have the ability to have alternative sources of income, some have the ability to increase their income through production, some have the ability to adapt to the situation, some have the ability to reduce their expenses or some have savings with which they can deal with this problem. You have to find a strategy to deal with this problem from your position.

[Vod]

The only way to deal with rising costs on fixed income is to spend more than you make (credit) or reduce what you spend on.

1) Many people buy a morning coffee, or lunch, or an energy drink daily.   These all add up.
2) Get a bank card that will round up purchases to the nearest dollar and save it for you - you won't even notice and you'll have an extra $50 or $100 when you need it
3) Do online tasks to pay for your online activities.   Work first, then fun
4) Browse https://bitcointalk.org while using the ShadowPulse extension and earn on the hourly faucet!   

[Somto9Light]

That’s called inflation and it’s a global pandemic that’s ravaging the global economy  and you’re right about one thing, which is that the first step to take in coping with inflation is to accept the reality, because I’ve seen people who all they do is complain and complain about how expensive things are and how prices keeps skyrocketing and yet they do nothing to help themselves, which is a clear indication that they’re yet to accept that it’s inevitable, the fact that inflation is less in some countries doesn’t mean it’s not there and this is something we all need to understand and think of ways to help ourselves rather than making useless comparisons and complains.

[DanWalker]

Apart from trying to have multiple source of income which is also difficult during hard times, the best thing to do is to cut down on expenses. There are expenses we do that are extravagant and unnecessary, which means without them we can still survive. For instance when it comes to feeding, there are some food items that have substitude or alternative which are cheaper. The reality of such times is that you have to adjust but not to eat what won't give your body the necessary vitamins, minerals and other nutrients but at a lower cost. Also in shelter, we have to cut down on luxurious lifestyle and take lesser risky endeavours so that we don't incur further debts.

Not everyone spends money carelessly or wastes it unnecessarily. There are people who are very thrifty and only spend money on essential need. Therefore, advising these people to cut back on spending is impractical because they have nothing left for them to cut. Advice on cutting expenses is only suitable for extravagant spender.

Besides if we want to cut cost, the first thing we should consider is habit like coffee, gambling, or drinking alcohol. It is better to cut back on less important habit first, rather than thinking about cutting food related expenses. Because there is no such thing as high quality and safe food at a cheap price.

[Zlantann]

Every one of us should not rely on a single source of income, therefore we should try as much as possible to ensure that we have other alternative sources to what we do so that we will not be stranded at any point, the economy is not stable and things keep changing each time, we have to plan more and ahead before such time, we can't afford to be caught unexpectedly in situation to find it difficult in affording a living because inflation is affecting the entire economy and things are becoming more unaffordable.

When there is a high rate of unemployment, finding alternative sources of income becomes difficult. The war between Russia and Ukraine caused so much havoc to the economies of many countries. My country relies heavily on wheat fromUkrine and the war led to an increase in basic food like bread. Many businesses began to close, which led to unemployment. As our country is trying to seek other suppliers and the economy begins to recover, we are now faced with another war.

To cushion the effect of inflation caused by this war, I have reduced the amount I spend on non-basic needs. We also have to rely on charcoal for cooking to cut the cost of gas. We have also reduced the use of air conditioners to reduce electricity costs. Buying and consuming cheap local food is replacing expensive imported products.

[Cryptoprincess101]

Apart from trying to have multiple source of income which is also difficult during hard times, the best thing to do is to cut down on expenses. There are expenses we do that are extravagant and unnecessary, which means without them we can still survive. For instance when it comes to feeding, there are some food items that have substitude or alternative which are cheaper. The reality of such times is that you have to adjust but not to eat what won't give your body the necessary vitamins, minerals and other nutrients but at a lower cost. Also in shelter, we have to cut down on luxurious lifestyle and take lesser risky endeavours so that we don't incur further debts.

You are right on your advice that people should cut down on expenses and i'll also add that people should do more of opportunity cost which is about buying the things they need rather than the things they want. Then where you said that people should go for food that are cheaper is where i don't think it is a good idea. Among the basic things of life, food is a necessity and it is important that we eat healthy and good foods, but they are also expensive and nothing is bad about spending more money on healthy food.
     Cutting down on some lifestyles will be better for those who spends money on frivolous things or on funfair and maybe buying luxurious stuffs too because there are people who are extremely extravagant. Though there are challenges that comes with cutting down expenses but in order to conquer a time of recession, it is necessary so that it can also allow us to get some savings out of the things we cut down expenses on.

[peter0425]

Reduce unnecessary spending. Don’t rely too much on the idea of permanence. The job you have right now may not be the one you’ll still have months or years from now. And with the added risk of prices of goods rising, it’s not the best time to take expensive vacations or buy luxuries items.