Sometimes looking towards increment in salary wouldn't solve our problems.Over the years there has been hardship in the economy all over the world, and people complain on how to increase there salary or have other alternatives of getting more funds, and even when they get what they desire, they still complain that since their source of income has increased, there expenses has also increased. But I think that people needs to control the way they spend, in other to be able to save more. If paraventure we decided to spend according to how we earn without reducing the level of spending, we may end up not being productive.
For me cutting down expenses would be another way of adding value to our money. Like cutting down the rate we eat, for those that spend alot on food, you can do better without over eating. the way we buy unnecessary items that has no value, when we have other useful things to do with money. So lets focus on the top priorities, expecially things that will bring more Money.
What do you guys think about this? Would this be helpful? And what do you think will help us in this time of economic hardship?
Am sorry I have to change the topic of discussion from how to reduce inflation to how to survive inflation and economic hardship sudjested by sokani.
When talking about increment of salary can’t help economy hardship or inflation but rather still increase the price in market the more.when tackling Surviving economic hardship requires a combination of practical strategies and mindset adjustments.for instance Budgeting,Create a realistic budget to track your expenses and prioritize essential items.
Emergency money, Save up an emergency fund to cover unexpected expenses or loss of income.
When also looking at this we have to reduce expenses, we need toCut down on non-essential expenses such as dining out or subscriptions. And a very important one is debt management,Prioritize paying off high-interest debt and consider consolidating or negotiating lower interest rates and which is bad in a system where there is hardship in the economy. Again we can also look at side hustle to make extral money to help your self and not relying on only on means of income but by diversification of ways of making money in the economy when there’s a hardship in the economy.