Post
Topic
Board Economics
Re: How to reduce inflation.
by
passwordnow
on 11/04/2024, 21:52:32 UTC
Someone can still earn a small amount of money and live well compared to someone who is earning a lot with much higher expenses, which ordinarily are not necessary, and the more people earn, the more they will increase their expenses, which is one of the reasons why they don't have savings.
There is also a lifestyle inflation and those that are earning with a higher amount also increases their way of living. It is happening to many but if you do notice this happen to you after you've earned big then you need to lessen your unnecessary expenses because you're dealing with a lifestyle inflation. Just because you think that you're earning high and you can sustain that lifestyle doesn't mean that you have no point in life that you're going to get less, no, it doesn't go like that and that's why you need to live frugally and only spend for necessary things and remove all of those subscriptions that you don't really need. While for those that earn less, they are prioritizing the expenses that they need in their lives and that's why they're able to live well with it because they don't have much unnecessary spendings.

One thing is to earn money; the ability to manage it properly will determine what that money can do for you.
Inflation is there and won't be gone and the only thing we do is to do something that will allow us to go along with inflation and that's right, we need to earn money, more money. That's how we fight the inflation and if you're earning more then you'll be able to invest as well and that's going to make your money work for you and eventually, you'll practice it and the principle that you're having by living frugally, investing and minimizing your expenses will help you achieve financial freedom but you need a lot of work for it.