~snip~
Purchasing power has only been getting worse from generation to generation, and thus being able to make any savings is already a distant dream for most. Younger people just keep working more for less, to s point now where mostworking people can't put even a single dollar aside.
Could there be a solution for these issues? Economists have long argued about the strengths and failures of our economic system, but alas it appears as though
"trickle down economics" has failed humanity.
So, do you agree that radical changes are needed?
I agree that Purchasing Power is getting worse each generation, based on this site
Inflation Calculator, 1$ dollar in 1900 is now equal to $0.03. It's crazy to see how much our dollar getting worse each generation and there are no real solutions for this, in my opinion, what we can do is we should not waste on anything like food, gases, technology, electricity, water, etc. Many young people these days love to waste many things and we should change this habit from our kids so the next generation should value for what they have.
It is everywhere and even the developed nations are lamenting unless you have a high-paying job which is not so many people that would have the opportunity to secure. The best is to have multiple jobs/works or any other means by which income would be entering your account/wallet, be it formal or informal, that's how you can make it in life and you can be financially free. Many are resolving to save too, but to many as well, the saving plans are not easy, they will try and will continue to fail due to too many commitments and bills to pay. This is why the problem should be solved from the root, and that is the income problem. If you ever have an income problem, you will surely have a savings problem unless you are such that is not financially burdened by friends and family members, while some have extended dependents to take care of.
This is why I do not bother myself with any savings calculations, and it is either I have the money to do whatever I want to do or I do not have it at all. This means that I do not force myself to save but rather invest to make more. When my investment with other hustle materialises, no one will tell me to pursue my goal with the money even without having to frustrate myself on the savings. Above all, let us find a way to make more money and not let the banks be using our money for free while we earn so little. It can be a short-term investment in companies, or direct investment online. You can also buy land with your money and find other means to earn more to achieve an end.