SEC17 WK:#4: The Effects of Economic Hardship on Families
Greetings esteemed Steemians!
Families who were struggling to survive now see life as a living hell. The question remains “How is this economic hardship taking shape?” “Has it affected my family?” In this article, let’s find it out together.
If one is current with Nigerian news, you will discover its declining economy which has skyrocket the price of goods in the market. This single act has caused hardship in different families. Men are fighting over food!
Origin of This Economic Hardship |
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Personally, I don’t have the full history of how this economic hardship began. But here are some clues that I can recall.
- In the last period of 2023, PMS also known as Petrol had its price risen due to some issues in it’s depot.
- As a result, price of transportation and goods were slightly risen.
- At the early period of 2024, dollar gained dominance over Nigerian naira thereby depreciating the latter.
- Because of the recent development, prices of literally everything in the market rose. It came to a point that each day brings a new higher price to products.
- In the recent times, Naira regained its value but prices of goods I the market are still on the high side.
In this case, who are we to blame?
Unsplash
What Have I And My Family Gone Through Due to The Hardships Occasioned by The Current Economic Situations in Your Country? |
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This economic meltdown I should called it has effected some changes to some families and my family is part of it.
I should say the economic hardship didn’t disturb my family. But I noticed that my mother’s salary couldn’t foot the billings of the family alone. It now needs the combined sum from my father and mother to do the magic.
Back in the days, my mother’s salary can provide for the family for a month upward. That’s why we did much saving then. Now, the doubled price of products doesn’t permit that.
What Have I Do to Help Curb This Menace? |
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In my little way, I have been able to contribute to the progress of the family. Billings like electricity subscription, television subscription and other minor billings are proudly handled by me. I must really appreciate the Steemit platform for giving me some financial freedom. From a broke guy to a financial independent person who is able to foot some billings is really a testimony I need to share.
What Adjustments Have I And My Family Made to Be Able to Cope? |
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The major adjustment my family has made to tackle this economic meltdown is bulk purchases.
Normally, when my mother embarks on shopping, she buys goods that will be consumed at that moment. Now, she buys at bulk because she understands it’s economic value. Non-perishable products like rice, garrri, beans, etc are brought in bulk because of its economic value.
Another major adjustment is farming. Since the invasion of this economic hardship, my family has resorted to farming.
According to my parents, farming is a possible way to curb this issue.
So far, my family has been committed to this course and they are taking it as a profession.
Economic meltdown is a dire disadvantage to the citizens and the county at large. In this period of economic hardship, what is your suggestions to curb it?
I invite @bossj23, @patjewell and @inspiracion to this challenge.
This hardship has really pushed people into farmland. Like us, we have three farmlands.
You can imagine how hard life is for people who are earning too low.
Good luck with your entry...
Thanks for your valuable comment.
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Indeed, we are all experiencing hardship as far as the economy is concerned. With 90% of our friends, it is a case where both husband and wife have to work to be able to pay for their property, education for their children, medical aid for the family, and then the rest like food, clothing, internet, etc.
It is wonderful to read that you are helping your parents. Well done!
Good luck with the contest!
As for the invite, thank you, I have already entered.
Am surprised that the economic hardship has spread to other countries of the world. It's sad that people are selling their hard earned assets to survive at this critical time.
But the truth is they must survive to tell the story. Am usually grateful to Steemit and my mentors for moulding this new me.
Thanks for your awesome comment.
Pleasure!☕
This is what is happening in today's era of inflation that when a person goes to buy something one day, the rate of that thing is normal, then the person buys it, and whenever the same thing runs out, he goes to buy it the next day, then the price of that thing is normal. The price has doubled and this is what is happening today, like we see petrol or its prices are increasing day by day and people are becoming victims of everything due to which these people Their compulsions are greatly increased, however sick they are, they are compelled to work, and they work even when they are ill.
This era of today's inflation is something that we lack the proper wordings for its description. Prices of goods in the market are rising in the market. The funny thing is that the income of workers still remains the same. This situation needs to be reviewed. Thanks for your valuable comment.
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Curated by : @patjewell
Thanks for this support @patjewell
Pleasure!☕
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
I have been wondering how the prices of goods still skyrocket while the exchange id dollar has reduce. Come to think of it, it getting worser every singles day, I witness buying a malt in the morning at 500 but the same malt in the evening 750. who are we blaming, only God can safe us.
My brother as is it now, everybody is managing, be it farm work and other works, it's even Better that you come to know about steemit.
I prayed this end soon.
Am rather surprised how a new day bringsca new price to the products in the market. At this point, I had to slash down some unnecessary spending I did back in the days.
I must be grateful for the Steemit platform. Sapa nearly turned me to its brand ambassador but Steemit in association with my mentor showed up. Thanks for your valuable comment.
you said sapa will have turn you to their ambassador?
Bro I can see that, e nearly...... 🤣
I come in peace
Asin ehnn 😂😂
But God pass am 😎
Your post does a good job of illuminating the financial hardships that Nigerian households face. You've shared firsthand knowledge on the effects on your own family and the steps you've made to deal with it. It's admirable how you've improved your family's well-being by making large purchases and engaging in farming. In order to address the larger problem of financial difficulty, your post promotes discussion and creative ideas. Excellent work!
The economic situation of the country is something isn't smiling rather biting at it's targeted individuals and families. In the family, we had to share responsibility so that everyone will have a taste of responsibility. Another means of escape is farming which is like a profession. Thanks for your valuable comment.
Wow 😳 this a very nice content and I'm amazed.
Looking at the current situation of families in the country, most especially the less privileged ones are in full distress and depression as not even a single can be purchased with ease anymore.
Checking out what you've said pretending to the causes of the inflation, I won't blame anyone else except our government.
They're the ones who practicalize it for the sake of money laundry and doping but now it's out of hand and so affecting the lives of families with no solutions to it.
I'm so disappointed at this moment but good luck 🤞 on your part 〽️
Omo, the way this country is going is where we don't know. I pray that we shouldn't be emptied into a dark ditch. Imagine buying a product twice it's original price is something that we are short of words. I really pity the large families with little resources. I wish this situation should be looked into. Thanks for your valuable comment.