SEC-S17 W4: the effects of economic hardships on families
Good day my dear friends, today I am here to compete in the Steem Kids and Parents Community challenge. Thank you @maheeshadesilva for inviting me, and thank you to @steemkidss for providing us with such a valuable topic to discuss.
As we all know, every family in my country, as well as many other parts of the world, is struggling to cope with the harsh realities of economic hardship. The rising cost of living, along with stagnating or declining salaries, has put tremendous economic pressure on household finances.
It has become more difficult to reduce the earnings-cost gap in my country, as the cost of basics like food, housing, and education grows. It was once a workable budget, but now families have to make difficult decisions about how to spend their limited finances.
We, as retired private sector employees, our main income is the interest rates on our fixed deposits. However, today's interest rates were just half what we had earned previously. Therefore, our revenue is reduced by half. So, we have to struggle with the economic hardships.
In the face of these problems, we had to adapt and make sacrifices to cope. We tighten our belts by cutting unnecessary expenditures and reconsidering our priorities. The simple luxuries we previously enjoyed have become expensive indulgences, so we avoid using them. For example, due to high electricity costs, we stop using air conditioners in our everyday life, even though the temperature is high.
Not only that but to deal with the economic downturn, we grew vegetables and fruits in our garden that we needed for daily meals.
In the face of such adversity, we all neighbors get together and share resources and help those in need. For example, when we have additional vegetables or fruits, we share them with our neighbors in need.
Previously, we participated in trips as individual families rather than groups, but due to the high cost of living, we currently travel as a group. This helped us to save money because transportation, lodging, and food costs were split among groups.
To reduce medical expenditures, we focus on our health by undergoing frequent medical tests, exercising regularly, and eating a well-balanced diet rather than a costly meal potion.
Despite these challenges, we tackled reality as a family by producing our own food, finding new sources of money, such as online jobs, and just supporting one another.
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Thank you very much for accepting my invitation and creating this valuable post. Actually we are in a struggle of life nowadays. People are working hard to find money. People work very hard to bring happiness to their family. We have seen innocent people suffering due to informal governance and irregular economic patterns in a country. I salute you for all the points you have said. Helping each other and limiting daily expenses is very valuable. And I wish you all the best in this competition and your retirement.❤💐
Today, we are safe, but what happened to us in future, that is doubtful.
100% true 👍
Thank you for participating in the Steemit Engagement Challenge Season 17 in the Steem kids and parents Community.
I really enjoy your wonderful writing. The economic crisis is really a big problem. Yes, there are indeed struggles over the economic crisis. You participated in this challenge with a wonderful post. I wish you all the best.
Thank you very much for reviewing my post and your feedback.
Maybe Charles Darwin's theory of evolution was true after all when he said, "Adapt or die - It is not the strongest of the species that survives but the most adaptable."
Just like you, I also depend a lot on those interests, and unfortunately, as you have said, they are not like they used to be. I also had to make changes in our lifestyle.
Best wishes!
Not just we, but the majority of the families, had to accept this reality. Let us follow Charles Darwin's theory 😀.
People are suffering from poverty People have no medical facilities No one to ask the poor When they go to hospitals for treatment no one asks them Doctor percentages are high It's very sad to see that they can't even get treatment from a good doctor and their lives are just like the poor man, I feel very sorry for the poor people how they live their lives.
Yes, those who have living comfortably but the poor people suffering lot, that is the situation.
Greetings,
Economic meltdown is an disturbing issue which has caused unbearable pain to individuals, families and the society at large. The inflation of prices due to this economic meltdown is what marveld a lot of people till now. Going to purchase a product but discovered that it's twice the initial price you knew. It's super bad and needs to be worked on. Good luck on your entry.
Thank you so much for dropping by my post and leaving such a great remark.