SEC17 WK:#4: the effects of economic hardships on families
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Inflation is created because the prices of goods and services are increasing day by day.Considering the current economy in my country, the rate of inflation in the country's economy is more than 25% and some people living in the country are spending more than the per capita income.
Considering the family economy, the head of the household or the head of the family unit bears the basic expenses of the family. The types of expenses of a family can be mentioned as follows.
- House rent or house maintenance expenses.
- Food and beverage expenses
- Educational expenses
- Expenses for clothes
- Transportation costs
The expenses incurred by a family are as mentioned above and the grant income of a family is the income of the head of the household or the income of the main income earner of the family.In my family my husband and I and husband's parents live and the source of grant income is husband's income. Both my husband's parents and I are currently unemployed and my husband is managing the family grant economy.
Many economic difficulties can be seen in today's society, the main reason for which is the increase in expenses over people's income. In my family, my husband bears all the expenses and he works very hard to balance the economy in the family. His monthly income is about LKR 80000(USD 270) from which he fulfills the responsibilities of all the family members. But according to the current economy of the country, that amount is not enough for all the expenses and it is very difficult to manage expenses in emergency situations like when a family me
mber falls ill due to an accident.
With the income he earns, I take care of the family and stay at home and maintain a small scale gardening system. I will get the harvest for my home consumption and thus can limit the expenditure on vegetables and fruits.
Currently, I have to bear a lot of expenses for children's education and travel expenses. Currently, I am a mother who is preparing to give birth, so I have to bear a lot of expenses to buy the related liquid. When there are urgent financial needs in family life, those needs are met on the basis of credit or with saved money and again my husband and I have to work hard to settle it. Many economic difficulties occur in family life and by facing it with good understanding, it can be solved effectively. I think that economic hardships can be successfully faced through methods such as using money and goods sparingly and growing essential food in the garden.
We, as a Sri Lankan family, encountered several challenges as a result of the economic downturn. As a retired woman from a private organization, I receive no income other than my fixed deposit interest rate. However, because interest rates are currently so low, we are experiencing significant difficulty.
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First of all I wish you a healthy retirement. Also, I think that you can contribute more towards household expenses while you are in retirement. I mean for you, like me, to grow some vegetables for your home or in your garden. It has more benefits than we think.💪
Yes, I engaged in such activities too when I have time..
Hello dear, just an opinion but I think you can start something to lessen the strain on your husband's income. Maybe getting a job or starting a business, of course this will be after delivering your baby.
I wish you safe delivery.
I don't plan to do a job as I have to give full attention to the baby after having it. But actually I grow vegetables in my garden to support my husband and provide our meals. In the future I hope to start another small business from home. Thanks for your comment 💐❤
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Thanks for your support 💐❤
Hi friend, you do have an amazing write up here I must say.
And may you deliver safely.
So actually, even with the economic hardships is there no little help you can assist him? Because there wonderful work cite even a pregnant woman can do.
In my side, I also sell cards, and POS and you my friend are a strong woman.
So I ask you try out something minimal you can do while in the house to help him.
Best of luc
I respect your opinion. To overcome these economic difficulties, it is necessary to understand each other and help each other. That is, I believe that by supporting the basic income provider, his pressure can be reduced as well as the weaknesses in the economy can be identified and faced. That is why I support him even after I am pregnant.
Una situación dificial amiga mas cuando muchos paises estan pasando por una inflación que está aumentando cada vez mas y que nos afecta considerablemente mas porque ya el dinero no alcanza para nada.
Muchos gastos que se presentan como alquiler, servicios, mas los alimentos que suben considerablemente y que cuando menos nos damos cuenta ya no hay dinero y no podemos comprar todo.
Que bueno que impleneto la cosecha para el consumo en casa una muy buena idea.
Thank you very much for your comment ❤ I think many people are caught in these economic difficulties nowadays. I really wanted to help my husband, so when I asked him, he was the one who proposed to me to grow some vegetables for home consumption.
Thank you, friend!
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Greetings friend, first of all my best wishes, that everything goes well and your baby is born healthy.
Yes ma'am those economic problems are worldwide,we are still burdened with the effects of COVID,now wars,all that affects.
Your husband is making a great effort, God bless him, it is not easy, you are at home taking care of the children, growing crops to make ends meet, God never abandons you, my friend, don't forget that.
During the actual povid epidemic, people suffered a lot from economic difficulties. It was further increased due to the disease situation and various rules and regulations of the countries. There is inflation in every country. Therefore, people have to face a lot of economic difficulties. . I believe that we can overcome the coming economic hardship by helping each other and living with each other.Thank you for your comments.
Expenditure has increased and income has exploded. This is the only story of everyone because our country is not giving us good employment. There was no one to stop it and after the corona virus, the economic conditions are now stable and the government which is still giving rates every day and making everything in a new way and all the rules have changed because Inflation has increased a lot. After Corona, inflation has tripled and people are not able to afford it.Do you agree with me that this is the reason why poverty is increasing?
Greetings,
Economic meltdown is something no one wish for but it happens. This situation is most felt by the poor and middle class people of the society.
How can an employee spend 70% of his or her income on Transportation. At this point, what will that individual have to survive? I hope this issue should be looked into thoroughly. Good luck on your entry.