SEC17 WK:#4 | The Effects of Economic Hardships on Families
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Hello friends, everyone, especially those in the Steem Kids & Parents community, the theme of Week 4 is quite interesting and I try to continue to participate. I hope the support of those of you who read this post, is a motivation for me to continue to grow and be much more excited, of course.
Economic problems are a problem that always arise and come in our daily lives, people in big cities and even small cities also experience the same thing. The difficulties of the world economy are also a causal factor that has a direct impact on the economy of the community so that people's economic problems continue to grow difficult.
Economic difficulties in a family occur when income is not balanced with needs, human needs are not limited and are hampered by income, which continues to increase every day. Income which is the key to economic problems occurs because of the narrow employment area, this is where the difficulties of the world economy become the main factor of the imbalance that occurs between income to needs and rising prices of needs further exacerbate the situation.
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I am quite grateful that amid a deteriorating economy, our family can balance our needs so that the income from the work we do can make us survive well amid economic difficulties faced globally. The balance between income and expenditure for the needs we can plan well so that some of the difficulties that have been felt can be pressed so as not to fall on the family's economic difficulties that at any time can complicate the economic situation of our family.
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More grateful again that my wife and I can help each other, to cover and meet our daily needs with the monthly income we get from our work. The income from both of us every month is also not necessarily a prosperity, it takes a planned balance to take advantage of what we get. Not necessarily a large income from work can meet our needs if we do not have a clear plan of what we need.
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However, this does not mean that we are not always safe from family economic difficulties, because we have experienced such difficult situations. Even though we have borrowed funds for daily needs due to unexpected things that happened before, learning from the situation and circumstances we also try to overcome it with careful planning. The high level of needs makes us have to be careful and much more selective considering the priority needs, meaning which ones most need to be purchased and which ones can be pursued afterward.
In the end, the key to overcoming the circumstances to get out of the economic difficulties lies in how well one can utilize the income, the income that we can have to be allocated to some basic needs. Each income must be managed to meet 3 needs :
- First the daily necessities. this is the main thing that must be fulfilled 70% of the income we have, at least it can last for the next 7 days.
- Both need for health. No matter how much income we get at least 15 should be allocated to health funds, this is very useful when we do not expect circumstances involving health to occur. At least this unexpected fund can save us from new problems when health becomes an obstacle, preparation is much better done for this independent health fund.
- Third savings. This is also a way to keep the family from economic difficulties, unexpected things will be resolved with this savings fund, 15% of income is good enough as an unexpected fund that we can use.
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Nothing goes smoothly in life, we must always try and work to provide for the family economy. Our wise way of placing income by their needs will make family finances well planned so that economic difficulties can be resolved through planning and balance that we apply in an increasingly difficult life like today.
I invited @miftahulrizky, @lil.albab, and @shiftitamanna to participate, best regards to you all.
| Period | March 29 to April 29, 2024 |
|---|---|
| Transfer to Vesting | 478.46 Steem |
| Cash Out | 474.00 Steem |
| Result | Club5050 |
| CSI | 14.4 (0.00 % self, 96 upvotes, 56 accounts, last 7d) |
Greeting friend @fantvwiki, You mentioned that economic problems are one of the problems that come up in our daily life and this problem is felt by people in big cities and even small towns alike which I think is true. You also mentioned that the difficulties of the world economy is also a causal factor which directly affects the economy of the community so that people's economic problems are getting harder which I also agree with. Also you have presented your post regarding these economic issues very nicely among us and I appreciate your presentation.
It's great to hear what you have to say, your feedback makes this post worthwhile. Thank you brother, have a nice day.
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
You're absolutely correct! Savings can indeed help protect our families from economic crises. However, it's important to invest those savings in a right place. Simply saving without investing can lead to a decrease in the value of those savings over time due to inflation.
I totally agree about it, thanks for this very helpful comment.
@fantvwiki Your insightful reflection on the impact of economic hardships on families resonates deeply. Its inspiring to see how you and your wife navigate through challenges with careful planning and mutual support. Your approach to allocating income towards daily needs health and savings is commendable and offers valuable lessons for others facing similar circumstances. Best of luck
Happy for what you say, I pray and hope we can all escape from financial problems properly and be able to keep ourselves from these problems. Thank you for commenting on this post.
Thank you for participating in the Steemit Engagement Challenge Season 17 in the Steem kids and parents Community.
Thank you for sharing your important thoughts with us. I really liked the presentation of your post. We all have faced financial crisis at some time or the other, but a wise person is the one who learns a lesson from those situations and moves forward.
You need to share this post on twitter and use the following tags #steem #steemit $steem and share the link at the comment section of this post. It is very important.
Thank you for your time and verification, it is very valuable to me.
It is unfortunate to see how economic difficulties affect the family since their income is not balanced with well-being.
of family groups, and when this is affected by human needs, this is affected because there is an imbalance that hinders income, when this happens it is when there is not a sufficient source of employment to help well-being.
It is necessary among the family to maintain a balance on economic problems to stay in balance, talking about savings is necessary as a friend to protect any need that is difficult for us.
Saludos 👍🇻🇪
You're right, we need to be able to keep up with the economy we can with the spending we need. Economic hardship when it strikes globally, there is no other way but to be financially wise.
Saludos cordiales estimado amigo fantvwiki, un placer para mi saludarte, leer y comentar tu participación en este reto.
El mundo para mi parecer es muy desigual, esto lo han creado los mismos seres humanos, pues la economía esta diseñada para hacer ricos a pocos, mientras lo demás mueren de hambre o luchan día a día para sobrevivir.
Te deseo mucha suerte en este reto. Bendiciones.
Let us pray for each other may we always be as human beings who are well-off and avoid economic problems, I hope you always get hopefully in any form so that life runs smoothly. Thank you for making me excited, best regards to you.
TEAM 5
Congratulations! Your post has been upvoted through steemcurator08.Terima kasih Pak.
I am really happy to know that how much your wife is co-operative with you that he also contribute in fulfilling needs of family members just like you and in this week participate in meeting expenses of all family members and I don't think so that there is only one person responsible for this thing because my personal belief is that all people of family and all members should contribute in it.
What you said is true my friend, glad to read your comments. I wish you always happiness and that your days go smoothly, thank you.
Thanks for appreciation 🙂
My pleasure to visit your content 😌
Economic hardships in families should be what we have to help create a balance as income earners. We have to manage our income and expenditure to enable us to plan well during such conditions. However, a good government policy can go a long way in supporting families and pulling them out of harsh positions.