Increasing cost of living - how can we cope?

[DYOR+BTC]

Having one consistent source of income is difficult and not enough with the rate of inflation or cost of living. We can try to increase our source of income by creating alternative sources which is the best or just cut down cost which can work if you're able to discipline yourself enough. It's a general situation which may reduce your standard of living but it has to be done to stay afloat else you drown or find yourself in huge debt just to maintain a standard of living.

Of a truth alternative source of income will be very helpful because of the uncontrollable inflation we do experience now but that doesn't mean a single job with good income cannot do same job.
Most times diversification turns disastrous to those involved in it which I am a perfect example of it. Its better we concentrate at one business in such a way it can stand and not investing in different businesses when we cannot handle it to the fullest

[Female King]

Having one consistent source of income is difficult and not enough with the rate of inflation or cost of living. We can try to increase our source of income by creating alternative sources which is the best or just cut down cost which can work if you're able to discipline yourself enough. It's a general situation which may reduce your standard of living but it has to be done to stay afloat else you drown or find yourself in huge debt just to maintain a standard of living.

Of a truth alternative source of income will be very helpful because of the uncontrollable inflation we do experience now but that doesn't mean a single job with good income cannot do same job.
Most times diversification turns disastrous to those involved in it which I am a perfect example of it. Its better we concentrate at one business in such a way it can stand and not investing in different businesses when we cannot handle it to the fullest

Diversification is good if you know you can handle more than a source of income, but if you can't it's still better to use the money and buy more goods to add the to the current business you are doing, but in a condition where the price of everything is going high and you are a person who depends on a monthly salary that isn't increasing as price of other things increase and your salary can't handle your needs again it will be better at all costs to start up business while still doing your job as this will really be of good help to you if everything went well.

[Royal Cap]

the government have to also find a way to consider to increase the workers salary, both governments and private sector, they all have to increase the salary and also increase the minimum wages.

However if the government suddenly increases everyone's salary, it will actually not benefit us in the long run. Whenever companies have to pay their employees more, they will be forced to increase the prices of their products. As is happening in our country the government has given a new pay scale in which the salary of all government employees has increased by about 1.5 to 2 times. And because of this the price of daily necessities has also increased.  So I think instead of demanding a massive increase in everyone's salary, the government should control inflation and keep the market price stable.