Increasing cost of living - how can we cope?

[GiftedMAN]

How to you overcome inflation when you do not have a source of income?  You can't invest in anything when you do not have the capital and you can't go ahead to borrow for your investment cause it's going to be dangerous for a n investment you don't know if it's going to be profitable or not, but if you already have a good business before you encounter the high rate of inflation, you can go up focus on building your business when it is well to do you go for a new skill which could have you to have more access to a good job.

If you have a business that's generating income for you and you have a good skills that you can be making money from you will be saved despite how the inflation will hit you hard.

For Someone who doesn’t have an income or any source of income, their first priority would be to first create one and not to bother themselves about investing, because it is when one has a source of income that they can actually invest. The moment they’re able to figure out a way to start earning some money, it mustn’t have to be too big, as long as it’s enough to first take care of their basic needs, save some, then they can definitely start investing and then better protect themselves from inflation.

We are on the same page here buddy, it you don't have a job you don't have means to serve more invest so the plan is to have a job, be comfortable with what you earn, take care of yourself, cover your expenses, have some savings, then if you have a reasonable amount that would be ok for you to invest then it's not bad. Don't force yourself to invest when you don't have a job cause yiu won't be happy and the mindset of investment will not be there. Investment doesn't necessarily be big the amount you have to start with should be used but at the long run it you have an increase in your salary you can up your investment to increase the interest you will be making in the future.

[Wakate]

The cost of living has only increased for the poor and this is how the super rich will ensure a plane ticket or owning a house that requires property tax etc will become an unaffordable luxury for the masses while they own the governments you are allowed to vote for.

Inflation have been affecting everything around us and people continue to make the mistake to think that the government is coming after them. Both the rich and employed are am facing the same issues and this is why we have been seeing so many companies going bankruptcy because of the harsh economy.

The government seems to be working and trying to tell the masses to be patient with them. We are in a time where maintaining a business needs a lot of money and when their is no sufficient money to fix the right thing, businesses can go bankruptcy with in the space of time.

[Nanga Parbat]

Inflation have been affecting everything around us and people continue to make the mistake to think that the government is coming after them.

Here you are right people are thinking that government will come and may be it would take steps for the public. Due to intense economic crisis government is also under pressure.They have also long list of governance like disaster, defence, education and much more. Therefore everyone should make effort on their own. We should make our financial planning wisely,. Skills, effort and hard work use all resources for making survival better. Moreover developing the habit of saving instead of spending, because upcoming days would be very crucial.

[hafiztalha]

You are right. Saving can be a solution, but it is only really effective in the short term. When inflation is higher, we have to pay more for the same goods and services. Therefore, the right approach is to avoid unnecessary spending and focus more on increasing our income. That is the real key to dealing with inflation over the long term.

Besides that, we should avoid holding and saving too much in fiat. Instead, we should move part of it into assets that can better preserve value over the long term.

I agree that people should live within their mean and avoid unnecessary expenses. That is the first step to coping with inflation. People mostly get into financial trouble because the way of their lifestyle expenses exceed their income.

I do not think that only reducing expenses is a long term solution, sometime people become fed up with cutting their expenses.  They still need housing, healthcare, food and other essentials to survive. If inflation continues while income remains the same then they are left with very less to cut.

I also don't mean that people should start or jump into the businesses about which they know nothing. Increasing income can be done by learning new skills or by taking some part time jobs. They can also invest in different areas if they have significant funds, or they can also start with a small amount. So, that they can improve their economic capacity.

[hellflame]

The cost of living has only increased for the poor and this is how the super rich will ensure a plane ticket or owning a house that requires property tax etc will become an unaffordable luxury for the masses while they own the governments you are allowed to vote for.

Inflation have been affecting everything around us and people continue to make the mistake to think that the government is coming after them. Both the rich and employed are am facing the same issues and this is why we have been seeing so many companies going bankruptcy because of the harsh economy.

The government seems to be working and trying to tell the masses to be patient with them. We are in a time where maintaining a business needs a lot of money and when their is no sufficient money to fix the right thing, businesses can go bankruptcy with in the space of time.

And who do you think is responsible for the inflation and debasement of your currency and who taxes you into oblivion while spending your tax money on shit you don't want and never asked for?