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Surviving Inflation Globally.

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Written by   421
2 months ago

Inflation is taking new heights globally at the moment and I fear what the future holds regarding this giant that is reducing the value of currencies across the world.

I did some comparison of the prices of some items between June and November, I didn't believe the price of things have gone that higher. Many people aren't paying attention to the increase because it is not massive at once but every little penny adds up to become something big.

The current inflation the world is experiencing has gotten on the nerves of some inhabitants of the world and surviving is becoming a big issue right now. It is not the same in every part of the world and the people who are suffering more are the citizens of the country whose wages are stagnant despite the gradual inflation from years back.


Imagine a worker earning $38 per month when things weren't that expensive and still earning the same money now that the price of things has gone crazy. Surviving must be a big issue coupled with the fact that the money isn't going to be spent on just feeding.

Correcting inflation is not something we can do individually but surviving inflation is something we can do as an individual. World inflation doesn't look like something that will ever end and we all must buckle down to live through this period.

I thought of a few things that could help us a lot during this period and I decided to share them with everyone who cares to know them.

Create multiple streams of income.


Depending on one source of income is not a wise thing to do during this period and with the prices of things increasing daily, that money you think is enough today might become insufficient tomorrow.

It is happening already, I have seen people complain a lot about their companies not increasing salaries at a time like this. We fail to understand that inflation isn't affecting us as an individual, every organization is also taking a hit from it. There is a bigger chance of your organization not adding a dime to your salary or wages but we can help ourselves by creating another source of income for ourselves.

Most of us over think when it comes to creating another source of income because we think of big things. It is okay to think big but starting small is not bad.


I used to have a friend who sells airtime at work, there was another who does snacks and sells at lunch breaks, I sold footwear then and we automatically created other sources of income for ourselves.

The profit wasn't much but we had more to save. There are opportunities at work and in our environment to create another source of income.

The world has gone digital and people make huge money with their online engagement, you can write on platforms like Hive and make rewards. Selling products online, I have seen seamstresses, and food vendors taking things to the next stage with the help of the internet, the opportunity is open to us all. Creating another source of income can help us survive inflation.


Cutting down our expenses or proper management of funds is another thing that can help us create a balance between our earnings and the drastic rise in the price of commodities.

What is the essence of having multiple sources of income if proper money management is not observed?

I observed there is always a huge difference between the price of things I purchase and what my mom does from the market. I learned that she was good at pricing things so I started doing it and got better at it than her.

Managing money is quite important and it can help us a lot. How do we go about it?

  • Always prepare a list of the things you need, going to the market to buy things without a list will encourage you to go for things that aren't very important to you.
    I have been a victim of this a lot of times and I can guarantee a lot of people have experienced this as well so it is best when we prepare a list of the important things we are going for.

  • Comparing prices in the market is good, it helps you save more when you purchase goods of the same quality at a cheaper price.

  • Purchasing goods in bulk also helps save a lot of money, I prefer to buy at wholesale prices than buying in units.

  • Avoid unnecessary spending. One of my ways of doing this is by preparing my meals myself, eating out always is not a good habit especially when you have a big family.

  • Monthly utility bills are one of the things that eat deep into our earnings and we will be doing ourselves lots of good by cutting down how we use electricity, water, gas, and others.

  • Offending traffic laws will only make you waste money, be sure to obey road rules when driving or crossing.

  • Waste companies are making a fortune from the things we pay them to dispose of and many people haven't tapped into the idea of recycling waste. It is not necessary to do the recycling yourself,

You can store your plastic, bottle, and paper waste separately and sell it off when you are ready. There are vendors for them who would buy them from you, they might be worth just pennies but they count.


Living healthy is another thing that must be put into consideration. Seeking medication attention cost quite a lot of money now, it starts from consultation to paying hugely for drugs, checks, and others.

Paying proper attention to our well-being will keep us away from the hospital from time to time. Eating fruits and vegetables, regular exercise, keeping our environment clean, and detoxing with natural herbs when necessary will do us lots of good.


Growing your foods and meat is another fantastic way to save money, it might be stressful but it is worth it now that food and animals are grown artificially.

Having a small farm as long as you have the space to do so will go a long way for you.


I hope everyone finds at least one of these tips useful, I believe we can help ourselves stay strong even with the inflation.

Complaining wouldn't correct the error but taking the right decision for ourselves can make a difference for us.

Thanks for reading.

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Written by   421
2 months ago
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Comments

The rate at which prices are going up and yet the income still stays the same can be discouraging. Everything is shooting up and if care is not taken, more frustration would loom.

$ 0.00
2 months ago

Depending on one source of income is not a wise thing to do during this period and with the prices of things increasing daily, that money you think is enough today might become insufficient tomorrow. This is absolutely correct

$ 0.00
2 months ago

To depend on a single way of income, specially in this era when prices are increased so much, can create problems for us. Thank you for sharing these tips with us.

$ 0.00
2 months ago

Everyone's experiencing inflation George. It make worst life harder. I am really sad about the inflation George.

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2 months ago