Increase in cost of living

 Increase in cost of living

(By Pashmeen Kaur ) 

Image By:- Jaideep Singh

Introduction 

Ever since the system of batter system has ended and the system of exchange of money has begun there era have been a lot of advantages and disadvantages to the same. Money is a very important assets in our society it has the power to destroy one individual and make one individual reach the sky. With the financial difficulties one person can also commit suicide. The cost of living is the basic cost of basic necessities such as food, clothes, shelter. The cost of living is the basic cost of every family as the coast of living increases so does the hard work of the person. People try and do their best to maintain the cost of living inflation is one of the factors due to which the prices of the basic necessities have also increased. A small degree of inflation could be entrained by the society but if it is high then economy can bring a negative impact to our society. it results in distribution of wealth and income in the society. inflation is an unjust process that gives more burden to the group of people that are hardly able bear any expenses. People who have fixed income that is the salary are also forced to spend more that what it used to cost to them. living under such situation and such circumstances will lead and force a human for robbery, commit suicide or any such social evil activity. Increase in living cost reduces the purchasing power of people. Due to which crime level can increase. People will start robbery, kidnapping and may other evil activities could be performed in the society. one way through which there is more increase in the cost of living is the system of bribery people who take bribery wants a standard of living as when they start the activity of being corrupted, they find themselves flashed with a lot of money which melts then to continue this activity of bribery. In a common man is victimized and it creates a burden on them to fulfill the needs of the corrupted person. Increase in the cost living not only burden people with financial crisis but also leads to many mental health issues. The increase in the cost of living also affects the economy as people are not ready to spend more. The companies will not be able to heir more employee as they will not have enough resources to pay them for their work which will lead to a situation of unemployment.

People are indulged in activity of killing themselves as they are not bale to support their life and their family life to.

Critical thinking

In order to survive the increase in the cost of living and we should find out ways through which we all can deal with corruption. One of the solutions that is suggested to calculate your monthly income one should always use wise estimation and exact amount of money that is being earned by each and every family member. At this point it becomes necessary for every family member to earn via any medium.  After calculating all the income with accuracy, it is recommended to make of list of expenses and planned their expenses accordingly. Besides this creating a budget and account can help the big spenders to spend their money wisely and reduce their spending. Another way out to survive the period of inflation is to  use the money that you have saved from years this way you will know how to balance the money.

Conclusion 

Even during the pandemic has crated a situation of inflation in the economy which has led many actor, actresses and big company owners to commit suicide. There should ways to handle such situation that should be implemented by the government. A wise man said “money is a root of evil” and it should be never master of anyone. 

  

Disclaimer:-

The opinions expressed in this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of Light de Literacy and LDL does not assume any responsibility or liability for the same.