Survival in the current Inflation cyclone
To survive within the inflation time period it's problematic to execute savings and earnings from being eaten by the monster of inflation. Pakistan is currently encountering a greater rate of inflation as compared to other countries and the reason behind this cursed condition is political instability. So now the middle class has turned off the saving mode and the lower middle class is cutting out the necessities. So what a layman can do in such an indispensable time a strategic version is necessary .
Savings must turn into investments;
Currently all the heftier and famous names of brands are vanishing from the market. As far as the business minded peeps are concerned, they are also moving abroad for their promising future. So only two classes are staying here , one is having no affordability yet aptitude and other is patriotic to serve the nation in this crucial time.
There is no use of money to be kept in banks. If you have savings, invest them in any project.
As the Dollar is gaining flight day by day. And the Pakistani rupee is losing value. What business can be suitable for you, now it's your own strategy but I would go for the baking business. As food enterprises always have consumers .
Quality vs quantity;
Multiple brands are lifting up which are concerned about the quantity more and peeps who are crushing in the inflation need them to supervise the hefty family. Also prices for the quality product have been made twice as much. Just for a cross check, the 5 kg vegetable oil having the piece 3275 approximately $40. It's hard to make a decision but I would recommend
purchasing the required stuff in bulk as it saves money somehow.
Also the already manufactured and stored items are even being sold on the current price so prediction about the later and updated price would shock you any time.
Petroleum prices assembling chaos;
Currently the international prices of petroleum and its products have been reduced but nothing such tenderness happened here. And if it does so, the authorities refuse to provide it at a lower price. For the transportation of products it's really affecting the cost element. Consider a delivery boy who delivers a deal of 1000 rupees by charging 150 as delivery charges and a medium size Biryani box having the prices 250 ($0.88) and 70 ($0.29) delivery charges. Also the quality of food is becoming poor as it witnessed this from Rehmt -e- Shirin, Broadway, and even Dominoes.
Cost of fuel is laying an incredible impact on the manufactured products.
Wedding a havoc;
Recently I visited Market to look for the utensils and I was horrified as that rush place was not the same . The marble dining set cost 72000 ($876)which was 50000($608) before the arrival of the imported government. 50% increase in prices of everything. Even shopkeepers were complaining that they were confronting issues in receiving products. Imported things are currently banned and I have witnessed the rotten products on Port Qasim. Who is responsible for this ?? Marriages are becoming a headache for both families of girls and guys. If the construction of a house is to be done the materials price is high so within affordability only a living house can be made maybe years after it would be furnished as now it's hard to engulf the cost of renovations. Dowry is banned but still if you purchase necessary stuff they will cost you more than 1k. Outfits and reception I think they are out of range for the middle class.
Elite class can even fly dollars through helicopters but the poor will die of starvation.
Need of the hour;
Now In this situation, a single person can't run a big family no matter if he or she is doing two jobs.
At least 2-3 people from the 7 membered family must work to run the budget.
It's time to throw off the cultural restrictions about women working and ego matters. I always instruct the girls who are even finalizing their education to get an online job. Freelancer, and other sites are no more convenient so go for online teaching, or working as a ghost writer. I would like them to join hive as it takes only your endeavor. Also if you have interest in some other homie stuff like baking, cooking, stitching or kneading it's time to pursue them. These will help you to earn experience additionally the government is giving training free of cost to such institutions.
Conclusive thought;
If you have saving in your banks, invest them now because it will save your present from being eaten by the monster of inflation. Pay attention to learning skills and working in the field, no time to remain jobless as it will weighs down the family. Use your voice to being good people who will do something for your living not to making their own castle in the oceans.
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Such kind of situation isn't occurring only in Pakistan but also in all undeveloped or developing countries. I feel worried thinking that how general people will survive in the upcoming days if the situation continues.
I just can hope that better days are coming but there I can't see any sign of it.
Agreed with your thoughts as these are not negligible thoughts these are facts and I found neighboring countries around us are currently stable as their markets and prices are linked with the international market. Hope for the best better days are coming.
The price of every little to little things are getting increased day by day and survival for the poor and even the middle class families are getting difficult. In this situation it's necessary that every member of the family earn something to fulfill atleast his own needs.
To some extent inflation is eating up savings and earnings are not getting the same increase as the inflation is happening. So working during an academic career is crucial for all young minds.