Today I purchased some fresh fruit, a loaf of good bread, good quality milk and 2kg of chicken drumsticks for my German Shepherd (he eats human food only) and the cost was close to $50.
Without making price details for all the items you buy, there is no conclusion whether your country is much more expensive compared to the country where I live regarding these groceries, thus resulting in increased chaos among the lower middle-income community.
I feel this is the first time in my adult life I have genuinely noticed the rising cost of goods and services especially groceries.
Petrol is over $2.10 a litre and my water and electricity bills have also increased by about 15%.
It can be said that almost all countries have experienced a surge in the prices of goods and services and especially in the food sector, the impact of the economic recovery caused by Covid-19 has really affected the adjustment conditions between people's income and spending, while the basic needs for the food sector have continued to rise and on the other hand the minimum wage for workers in all employment sectors has never experienced an increase after the impact of Covid-19 hit.
This chaos makes it even more difficult for people to get out of the economic crush, because there is no adjustment between income and expenditure. Not to mention talking about health costs, children's education, gasoline, water and electricity, which in the end results in a mess of problems faced by society, especially for those with middle to lower incomes.
I really feel bad for the elderly pensioners in this country. They are definitely struggling.
There are several methods that can be applied by anyone.
1. Start preparing savings for old age by doing it regularly, even if little by little.
2. Invest according to income ability.
3. Trying to grow food sources in the yard of the house or in vacant land, such as vegetables and other needs.
We must adapt to any conditions and circumstances, because it is impossible for circumstances to adapt to us, without any planning, our future life will be much more difficult.