Surviving Inflation: Don't Cut Costs, Earn More Money.

[King Belieal]

One strategy that people use to survive inflation is to cut costs by adjusting their way of life. While that may be helpful, I don't think it's a sustainable approach to surviving Inflation as it may still catch up with you because inflation is not static.

Rather than cut costs to survive inflation, it makes more sense to increase your earnings as the inflation keeps increasing. You would still be able to afford what you need without compromise.

 

[Stardom22]

l am too really applying the same tip. l had really adjusted the household budget to where l can meet the amount planned on the budget for the truth matter

 

[arunima25]

I think that most people are always on the lookout for getting more sources of income and increase their earnings. But it doesn't seem to be that easy. One has to look out for investments suiting their risk appetite to grow their money.

 

[Kirubel]

True, increasing our income than cutting the cost is more preferable but this is applicable if we find jobs that pays more.

 

[Starmix]

It's best to invest more to increase our profit. Cutting off expenses doesn't make sense the financial struggle is still there. If we have business it's good to make it more profitable to profit more.

 

[arunima25]

Cutting the cost is a temporary solution. One has to look for the solution that would run in the long run. Inflation is not temporary. It would be there in long run too. So, growing the money through investment and trying every bit to ese more is the right way to tackle it.

 

[Kirubel]

It's best to invest more to increase our profit. Cutting off expenses doesn't make sense the financial struggle is still there. If we have business it's good to make it more profitable to profit more.

True, if a person have money then investing will make their life easy and they don't have to worry about inflations, but for those who don't have money and only earn small then need to watch their budget.

 

[Alberello75]

Wel, unfortunately in Italy the government has rejected the idea of increasing the minimum hourly wage, so the absurd thing is that many people find themselves in poverty even though they work! Furthermore, another absurdity that is occurring in recent years of strong inflation is that people, especially on food purchases, spend more despite buying less! So the trouble then happens when people start asking themselves this question: But therefore is it worth going to work?​

 

[King Belieal]

Wel, unfortunately in Italy the government has rejected the idea of increasing the minimum hourly wage, so the absurd thing is that many people find themselves in poverty even though they work! Furthermore, another absurdity that is occurring in recent years of strong inflation is that people, especially on food purchases, spend more despite buying less! So the trouble then happens when people start asking themselves this question: But therefore is it worth going to work?​

The best solution is to stop depending on one source of income. You can raise your income level by adding another stream of income. Think of a side hustle and enter.

 

[arunima25]

Wel, unfortunately in Italy the government has rejected the idea of increasing the minimum hourly wage, so the absurd thing is that many people find themselves in poverty even though they work! Furthermore, another absurdity that is occurring in recent years of strong inflation is that people, especially on food purchases, spend more despite buying less! So the trouble then happens when people start asking themselves this question: But therefore is it worth going to work?​

That's a very sad state of affairs. Something needs to be done by the government to rectify the situation as it would lead to bigger crisis in the future that would not be good for the nation. This would build some sort of frustrations among the citizens.
Here there is an increase in salary and minimum wage. But then at times even that can't be enough. However, India has a better control on inflation despite the global scenario. The main issue with our country is generating enough employment for the huge population.

 

[Suba]

Various types of inflation, especially hyper inflation, cannot be overcome by everyone, the country's economy is in chaos, many companies go bankrupt or close, so it will be difficult to find work, and investment cannot solve the problem immediately.

 

[arunima25]

Various types of inflation, especially hyper inflation, cannot be overcome by everyone, the country's economy is in chaos, many companies go bankrupt or close, so it will be difficult to find work, and investment cannot solve the problem immediately.

You are very right there. Inflation is a big hit on regular people and it's not easy to deal with it. It becomes even more tough when the economic condition of the country is not going well. You can earn more and compensate for the increasing inflation only if you have more avenues to earn. In a bad economy, we don't get scope to earn or invest.

 

[King Belieal]

You are very right there. Inflation is a big hit on regular people and it's not easy to deal with it. It becomes even more tough when the economic condition of the country is not going well. You can earn more and compensate for the increasing inflation only if you have more avenues to earn. In a bad economy, we don't get scope to earn or invest.

The current inflationary trend in Nigeria is ravaging. What did I do? I found ways to earn more independent of the economy of Nigeria. I work on forums like this. I also sell music and beats online. And so far so good, I am basically surviving the inflation with less fuss.

 

[Suba]

In fact, inflation will occur in all countries, but there are several types of inflation, if light inflation is below 10% per year it will not have a bad effect on a country's economy.

 

[magnus2022]

One strategy that people use to survive inflation is to cut costs by adjusting their way of life. While that may be helpful, I don't think it's a sustainable approach to surviving Inflation as it may still catch up with you because inflation is not static.

Rather than cut costs to survive inflation, it makes more sense to increase your earnings as the inflation keeps increasing. You would still be able to afford what you need without compromise.

This is one of the worst economic hypotheses i have read about. It is economic and social irresponsible advice. Do you think is easy to make more money and rest of us are still posting on forums. It is not easy to make more money.

 

[SHAHID987]

In most of the places it remain impossible to cut the daily use items like bread and butter so it remain essential to increase means of the income. Work where you are working but keep searching some new ways of earning too.

 

[Starmix]

We have to earn money more than cutting our usual expenses. We can earn doing jobs online, sell online or add your business. We can't stop inflation likewise our hunger which is also unstoppable.

 

[arunima25]

The current inflationary trend in Nigeria is ravaging. What did I do? I found ways to earn more independent of the economy of Nigeria. I work on forums like this. I also sell music and beats online. And so far so good, I am basically surviving the inflation with less fuss.

I am so happy that you found other ways to meet your financial needs despite a baf economy in your country and a bad inflation. People need to look out for other avenues like you did. But many faul to do so as their main job can be quite demanding leaving them with no time and energy to do side hustles. Your story can motivate many.

 

[freelancermaria]

That is true. It is better to earn more money to support our needs because cutting costs is only a band-aid solution. That is why we must strive harder, especially these difficult times.

 

[King Belieal]

This is one of the worst economic hypotheses i have read about. It is economic and social irresponsible advice. Do you think is easy to make more money and rest of us are still posting on forums. It is not easy to make more money.

Sir, tell me how you are going to cut cost when your cup of rice has doubled its price. You would eat half cup? Or you would not bath with soap? There are certain things that you can't cut cost with. You must buy them no matter what and it is only making more money that would help you to be able to buy them when the prices has increased. The other option is debts. You can choose that if it works for you.