Topic: Economy pressure - page 6. (Read 1481 times)

Maybe that's true, but I think the environment really influences a person's thinking, imagine a child born to a poor family, even though he doesn't have dependents, but the way he thinks with rich people may be different because their environment is different.
So habits and environment are also factors why people get caught up in this.
for example, you are not a smoker but your close friends smoke and you have been friends for a long time, maybe you will become a smoker too.
but yeah if the first like you said if we compare, that really totally different start.

These two financial situations will make two differences in terms of viewpoints and ways of valuing money, when you are born into a rich family then maybe you will not have any problems in terms of finances, or that means you will have no difficulty when you want something or buy the things you want and making ends meet is easy for you, but if the situation is reversed, in the sense that you are someone who has medium or even below average finances then obviously the amount of money that a rich person thinks is nothing but for you it is something very valuable.

And it means as you said that when they are born into a rich family then simply they will never feel any difficulty in terms of finances and for the poor then it is the opposite, so as I said above that there are two different perspectives on the value of money. On the other hand usually rich people's children are more likely to squander money because they feel that they can afford to do so, but actually no matter if you are rich or not, the perspective on the value of money should be the same, or that means we should really be able to appreciate any amount of money because this will lead to good actions and habits for management, life will not always have the upper hand and that means there is a possibility for rich people to go bankrupt and financial management such as saving money will be very important for you in any situation especially when you experience bankruptcy in the future.

Everyone has a different fate in their lives, for those who are born into families with sufficient wealth, it is very unlikely that they will experience economic difficulties and they will never know how people experience economic difficulties, but for those who are born From families who have little wealth, of course they will have experienced what it would be like if they experienced economic problems, they only think about how to meet their daily needs and also how to survive without thinking about how to save.

It sounds like your income may be below the minimum wage in your country. I understand that this can be a difficult situation, and it's completely understandable to feel pressure to provide for your family. While enduring a low-paying job can be tough, there are ways to work towards improving your income. Investing time in learning new skills, like programming or freelance writing, can open up new job opportunities with higher wages. There are also online resources and training programs available that can help you develop your skills. Remember, progress takes time and dedication, so be patient with yourself and celebrate your achievements along the way.

You see this is why government policies have some logic behind them and people dont realize their bad habits. Having more children does not necessarily mean that your future income from these children will be multiplying - that will only happen if each of them gets educated and skilled enough to get an income of that standard to support themselves. If you cant pay for that first part, then forget about the second part.

In that way government who attempted to curb the number of children in a household have done a right thing in my opinion. Think twice before having more than one or two, if you are unable to feed them, use a condom. 

Now this is also something I often encounter, someone who has a middle to lower economic situation, they have many children. One of the reasons I have encountered is also that they hope that one of their children can help their economy when they grow up. I'm not going to judge this as wrong or right, but we know the risks are always there, such as the child not getting enough education and so on.
In my own country, there is a government program that says two children are better, but not everyone agrees with it. Yes, I understand that this is our right because it is a recommendation. But here we also have to consider, do not let children become victims.

This directly indicates the current pressure facing many countries presently around the globe. The mistake you made was using a local currency, but nevertheless, many countries in the world are suffering from inflation, and I know Nigeria is also one of those countries. It is not just African countries that are presently in this situation. Other countries that also face the same inflation, or even more than that of Nigeria, include the following: Turkey, Argentina, Iran, Venezuela, Ethiopia, Haiti, Ghana, Nigeria, and a lot of them, seeing all those countries facing the same issues of inflation, which is causing a trait to the world entirely.


This is a great point of pressure and suffering because, even with a budget, it will be so simple for such a house to fulfil most of their needs as a result of their income. Many issues of hunger come from those families, and all these things are what trigger many crime rates in society, like thuggery, drug abuse, kidnapping, prostitution, and many more. The only solution to this inflation in a household is to allocate diverse ways of income, create a meal plan, pay all depths, have an effective review of the budget, open higher savings account and so on.

The current state of the economy is not very good. Especially the prices of goods are increasing day by day. Because of this, those in the middle and lower middle classes are threatened to run their families with little money at the end of the month. In such a situation, what the middle-class people should do is not to spend unnecessarily, eliminate unnecessary expenses, find different ways to earn money without depending on one medium. Spend the entire month according to a plan. It may still be stressful for us, but planning may bring some relief.

Pressure is really something. When things get tight economically, it's like doing a jigsaw puzzle with missing pieces. A budget can be your map to figure out where your money goes. Focus on the must-haves first like food and a roof over your head. If your income isn't cutting it, consider side gigs or learning new skills for a potential boost. It's all about adapting and finding ways to make the financial puzzle fit even when it seems like some pieces are missing.We dont have a choice, we need to survive and enjoy life as much as possible

Please, whenever you are describing the amount of value of money it will be comprehensive for you to use sign of the currency or just equate it to dollar. I don't really understand the value of the amount in dollar but that shouldn't be a problem. Currently inflation is just everywhere. People keeps complaining about the high rise of food stuff and provisions. Does that mean that we are closed to the end of the world? The inflation is too high even in advanced countries, people are complaining of high rise of goods and the salary is not increased.

I hope you remain strong in the midst of this uncertain economic pressure, friend, and it's not just you who feels it, almost everyone in the world feels the same way, this is hellish inflation.
every month the price of raw rice in my city rises by 1%, sometimes I wonder what the government is actually doing, why they are unable to overcome the inflation problem that is occurring, why there is no definite solution to reduce the difficulties experienced by the small people.
Easy solutions such as cash assistance every month, free access to health will really help people from low economic levels, for now, if you haven't received all of that, I hope you are patient, you have to be strong, enthusiastic about your children's future.

I have to ask why someone have 3 children when they're only making 50k per year?  One of the things that I come across most while financially preparing people for retirement is those whom have a multitude of children, yet have low to "middle of the road" jobs, always have, and yet they still continued to have more children.  I honestly don't understand this. (I'm not saying this is the case with you necessarily, but in general).

Inflation is continually on the rise and from the look of things, you cannot rely on the government to come up better solutions to ameliorate the current economic challenges in country.

To make the impact less severe:

• Buy and hodl bitcoin.
• Get foreign currencies and store in dorms account.
• Don't rely on a single job, look for multiple streams of income. If you've a farmland, grow vegetables, cassava, yam, plantain etc, to generate more income.
• Spend less on frivolities.

This is Nigeria thread, you should have posted it in the local board or you make references in your currency to what other people can understand so that they can relate like telling them what inflation rate is and how the dollar has appreciated to a naira since the new government came into the office on the month of May 2023 and also how the fuel subsidy has been removed tocm curb corruption but all not working.

I was watching Channels TV, I'm sure you are familiar with such TV stations and one economist was lambasting the president Tinubu governance, I think so far in the history of Nigeria, this is the worst economy we have face and most challenging one for that matter. Even PDP 8 years of bad governorship isn't as worse as this despite meeting empty reserve, this is the worst to say. The cement is selling for ₦11,000 to a bag and Naira to dollar is trading at ₦1640/$, I think Nigeria is heading into worst time + recession soon.

If we compare it to initial financial management for all people, basically not all of them were born from rich families and not all of them were born from poor families. This seems unfair because those who were born poor obviously don't have the money to manage them well in their own lives, while those who were born rich certainly have the money to manage them well in their lives. So, in terms of initial financial management, it may only apply to those who are rich, because those who are poor have to struggle with many things to be able to do things better.

Apart from that, the life struggle between those who were born rich and those who were born poor is very different, because those who were born poor must be able to prioritize two important things in their lives. The first is about filling their stomachs, and the second is about how they can manage their money well after they earn it through their own work. Meanwhile, those who are rich can immediately apply how to manage their money well because they already have money straight away without having to think about how to fill their stomachs every day.

We need to know this that there's pressure everywhere, we are the ones to know how we could manage well those pressure and avoid being under it influence, there are times we also have to pretend as if we are not seeing some things happening, even though they were happening and others were being affected by it, we should instead focus on finding a means of rescue in such a way that we will be exempted from being affected of the pressure going on, but the more we are being much concerned the more its likely to affect us along with other people being affected already.

I dont see how you can help yourself to a better state of living at the current situation. Cost of living has increased with you are implying from the cost of the same soap. You cannot always increase your own wage by your own to balance that. In Nigeria, the situation is indeed bad and have you ever given the thought of moving to a different place?

Bringing three kids to the world was your decision so now you have to face the problems. Bitcoin might help to combat the inflation but to what extent, I cant say. Better you try it out and see for yourself.

I understand how you feel because we Nigerians need prayer on our economic situation. Inflation has really affected our economy as the price of goods are going up due to some common economic mistakes our leaders did.
It started when the Nigerian government announces the removal of fuel subsidy, then the instability of Naira to dollar value.

Nigerians mostly depends on importation, and their currency Naira loses value to USD, as a result of that, if business people import goods, they sell it at a very high price and if the dollar to Naira value keep dropping, the price of goods keep increasing that is why the inflation rate is becoming high.

Nigerian Government need to stabilize the exchange rate to bring an end to this problems.

I think if something like that happens, people have to think about what to do next, but I don't know how people can be in that situation, because human fate is different, some are born rich, some are born poor, some just live. enjoy life, some have to struggle to be able to eat every day.
but it's all based on initial financial management.

Inflation exists in many nations, if you look at the inflation rates in nations, Venezeula, Zimbabwe, Sudan, Argentina and Turkey has some of the highest, Nigeria is not in that list. It is of course important for those people to earn in dollars, to have a stable income. If you make the fiat of those nations your money will be gone for good, and that is not really something you could expect at all. However, if you end up with something that would be smaller, then you are going to end up with a good return.

Hopefully, we could see it change one way or another, and with that we could consider making some USDT income at crypto, and that will definitely allow these people to get a good return one way or another thanks to bitcoin.