Money management is now very vital in our life, specially for the middle class family. Inflation is at the highest position, the price of daily needs is too much. But the income didn't increase in proportion to price hiking. So a middle class family must keep pace with the price hiking and his income. For a higher class family it is not a big problem for them. Because they have enough savings, even present income to face this inflation. But the middle or lower class family neither have enough savings nor have much present income to face this sudden inflation. So one must keep pace with this situation. And right this time, money management is playing vital role.
As for price hiking we have to face more cost of daily needs with the same income we must find out a way to decrease our cost. As a result, people have to avoid any other cost except the important needs. The are many family who used to visit a restaurant with family members 2/3 times a month, they go there now just a time or they don't go now. They have given up their desire to get some less important goods such as gas cooker, electric hitter, refrigerator, air conditioner etc. Even then there are many family who gave to compromise with their daily needs. As of a print media, there are many family who bought 25 kg rice per month, they are now buying 20 kg rice. Who bought 3 kg soyabean oil before now buying 2 kg. They are forced to compromise even with their necessary goods.
I used to use oliv oil two times in a week. But now I use it only once in a week. Before I used to take 1.5 kg liquid milk of cow in a week, it has decreased to 0.75 kg per week now as the price of this milk is twice than before. I am forced to compromise with all of my heavy and less important goods. I washed my clothes two times in a week just moths ago. Now I wash it once per week. The price of toiletries has increased more than any other goods here in Bangladesh. The soap I bought by 35 BDT, I have to cost 60 BDT now for the same soap. The toilet tissue I bought by 15 BDT, now I buy that by 25 BDT.
I have no way except compromising with this as my income is same as before. So now I calculate heavily my daily cost. I use excel sheet and try not to cost more. This is very tough to live now. My Allah help us to face this economical pressure on us now.