Yesterday I had to book my wife's return ticket as she had to urgently go to her hometown. The cost of a return ticket is around $150 and I had to book it as there is no other choice. I am not sure but maybe, it's only me who is experiencing such a high cost of living. The return ticket which used to cost us around $80 is now doubled in the span of just 2 years.
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And not only that, almost everything around me is getting expensive, be it groceries, house rent or whatnot. The major problem is that the income is not rising as much as required to sustain in this era and thus had to dig into their savings once in a while to sustain every month. I have not yet taken out crypto too, because the price is low now.
I have been a good saver throughout my life and I want to save more and more. But with the costs increasing, there is a hard stop is happening where I cannot save or invest more. And then there are ad-hoc expenses that come in like buying a return ticket and other things which are making the matter worse.
To be honest, it is not lifestyle inflation which I am facing, it is actually the overall inflation which has increased. The problem is this is not gonna go down, which means now the only option we have is to increase your income or try to cut expenses as much as possible. But again we cannot cut a lot of expenses too, there is a need which is what increasing drastically.
To be honest, in just 1 year's time, our household expense has increased by 100% if not more. I am not sure where it is gonna stop and thus we can save more. And this is not the case with me only, it is happening with each and everyone out here. I was talking with my friend, he said he has to stop going out to save money now. And the people who have only 1 earning member it is getting more tough.
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It can be difficult to save and invest in this situation. You may want to consider finding ways to increase your income or look for ways to cut expenses. However, it's important to recognize that some expenses may be necessary and cannot be cut.
The situation gets tough with the rise of inflation. It becomes difficult to keep up with everything. I think everyone feels that. People do not have many options. Fiat currency shows its true color.
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