Or simply you do talk inflation on which this is an inevitable thing on which products and services prices are going up high and this is whats happening in todays world. So whats the solution to this?
Increase your buying power, via means that you do need up to have that other income source on which it will really be that something that you do need up to do and consider out, because if you are really just that staying into the amount that you are earning from your job and the goods or products keeps on increasing then you would definitely be seeing yourself having a huge problem later on. You might not be able to feel it out directly but sooner or later you will really be definitely be having that kind of hardship on budgeting because of shortage or overdropped. So it will really be that on situational basis on how a particular person do made out such action.
In addition to increasing or adding sources of income, I think that in today's era, investment is a very important thing to maintain your wealth. I think that now is an era where the rich are getting richer and the poor are getting poorer. A few decades ago you could survive with one source of income even though it was a salary. But the high inflation every year is not comparable to the increase in salary received. This makes one source of income increasingly difficult from year to year. On the other hand, the poor do not have access to invest because they do not have enough money. And the rich are getting richer because they have many assets that continue to experience large growth every year.
One of the most effective ways to combat inflation is to increase purchasing power. Additional sources of income are needed to increase purchasing power. Every wage earned in addition to your salary or earned income increases purchasing power. When you have a fixed income, increasing inflation reduces your purchasing power. If economic policies cannot prevent inflation, people may have to work more.
When there is an imbalance between income and expenses, people go into debt. Inflation is one of the main factors that creates this imbalance. The fact that the whole world and some countries have higher inflation rates makes this a global problem. What we all need to do is work more and find additional sources of income to both improve ourselves and increase our purchasing power.