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?

[POPOLUV]

The increase in cost of living has really dealt with us living in my country both old and younger ones, to the extend were by the youths are really displaying their characters through the hardship by committing crimes there and there every blessed day with different stories and one thing that is bad about this increase in cost of living, when cast of living is high in a country, it will never go back to normal and it will keep going higher by different government and when election reaches, the contester will mobelize the youths to vote for them with empty promises.

[PhilosopherKing]

The increase in cost of living has really dealt with us living in my country both old and younger ones, to the extend were by the youths are really displaying their characters through the hardship by committing crimes there and there every blessed day with different stories and one thing that is bad about this increase in cost of living, when cast of living is high in a country, it will never go back to normal and it will keep going higher by different government and when election reaches, the contester will mobelize the youths to vote for them with empty promises.

Every new government that come will come with their fake promises that they will make the country better, but that is how worst that government that comes keeps becoming. At times we now be wishing that the previous government never left power for the new ones. And it is the citizens that are suffering from all this. Sometimes all this people that commit crimes, at time I dont blame them, I blame the government.

Because if the country gave them job they wouldn't be out ther looking for another person life to destroy. Imagine one person will be driving a car that is more than enough to feed a whole state. Isn't that wickedness. How does this people even sleep at night with their eyes closed. Do they even know how many lives are destroyed by their wickedness and 'I don't give a fuck' attitude.

The youth are leader of tomorrow that is what my secondary school teacher told me back then. RN the leader of both the present, past and future are people old enough to be my great grand father. There is no hope again man.

[DYOR+BTC]

The increase in cost of living has really dealt with us living in my country both old and younger ones, to the extend were by the youths are really displaying their characters through the hardship by committing crimes there and there every blessed day with different stories and one thing that is bad about this increase in cost of living, when cast of living is high in a country, it will never go back to normal and it will keep going higher by different government and when election reaches, the contester will mobelize the youths to vote for them with empty promises.

Constant existence of crime should not be blamed on the high cost of living because that same challenge is faced by all yet many choose  to remain focused and determined to find solution to there problems while others choose to get themselves involved in criminal related activities.
On daily basis different headlines bearing different occurrence on crimes comes up uncontrollably all because many decides to use the hash economic situation as a reason even as it is also a reason to be considered to an extent but should not make one decide to do such things because even in such conditions all are still finding there way out legally.

[free-bit.co.in]

The increase in cost of living has really dealt with us living in my country both old and younger ones, to the extend were by the youths are really displaying their characters through the hardship by committing crimes there and there every blessed day with different stories and one thing that is bad about this increase in cost of living, when cast of living is high in a country, it will never go back to normal and it will keep going higher by different government and when election reaches, the contester will mobelize the youths to vote for them with empty promises.

Constant existence of crime should not be blamed on the high cost of living because that same challenge is faced by all yet many choose  to remain focused and determined to find solution to there problems while others choose to get themselves involved in criminal related activities.
On daily basis different headlines bearing different occurrence on crimes comes up uncontrollably all because many decides to use the hash economic situation as a reason even as it is also a reason to be considered to an extent but should not make one decide to do such things because even in such conditions all are still finding there way out legally.

It is true that the rising cost of living make life harder and put more pressure, but we can't use that as an excuse to commit crimes.

Many people are facing the same difficulties but still try to find a legal way to deal with them. Why do we choose to commit crimes?

We may not have many option when the cost of living goes up, but that doesn't mean we have no options at all. So don't use our circumstances as an excuse for breaking the law or blame them for our action.

[Popkon6]

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.

Look, the main problem of our country is unemployment, in a country where the unemployment rate is high, there is poverty and rising prices of goods. But people's income is limited, due to which they are struggling to meet the basic needs of the family, in addition to this, there are more ancillary expenses, but sufficient employment cannot be found to meet all these things.
Therefore, more and more instability is created in the country day by day, as a result, chaos and looting of money etc. are increasing in the country.
And gradually the country is moving towards uncertainty, in this situation it is very difficult to save for the future. However, saving for the future is definitely important, it is a wise thing to do.

[GiorgoArm15]

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 problem is you can only cut expenses so much. You can cancel subscriptions, stop eating out, buy less random stuff… but eventually there’s nothing left to cut

that’s why I’d focus more on making extra money. Learn a new skill, take some freelance work, start a small side hustle whatever works for you.

saving an extra $100 is nice, but finding a way to make another $300–500 a month can make a much bigger difference

Best case, do both: keep your spending under control and keep looking for ways to grow your incom

[bakasabo]

That is not an advice, but people should always aim to earn more. Cost of living will always be increasing. When a person find a decent well paid job, that does not mean he should relax and enjoy his life. Progress and economy are always producing things that we would want to buy and they will always increase their cost. We are in times when job already not enough. Person must always have several sources of income.

[Pumpsta]

That is not an advice, but people should always aim to earn more. Cost of living will always be increasing. When a person find a decent well paid job, that does not mean he should relax and enjoy his life. Progress and economy are always producing things that we would want to buy and they will always increase their cost. We are in times when job already not enough. Person must always have several sources of income.

If landing a well-paid job still doesn't mean they should relax & enjoy life then when the fuck do we relax, in the grave? It makes sense to look for extra income when costs keep rising all the time but come on man, the purpose is living..not dying