Good morning everyone. Hope everyone is okay. I am doing great and making much use of my time on hive.
Today’s topic is really amazing, it is an issue that affects every one of us. In every country the cost of living differs due to the economic differences in each country. In some countries the exchange rate and the value of their currency is a problem which affects the price of goods and commodities, cost of living, transport and how much you earn.
I am from Nigeria, the cost of living is at average rate. Not everything is sold at a very high price. The exchange rate of naira to dollars is 1500. Most of the goods are cheap are can be afforded by the poor but something s are high and can be afforded by the poorer. Day by day, the prices of goods and services increases and decreases. Most people are forced to park their cars at home and use public transport due to the high price of fuel. Cooking gas is now sold at a higher rate and it is also scare.
Basically, a person earning 50,000 to 75,000 naira cannot use it to take care of his or her family for a whole month. The entire money will be spend on just food and nothing else. Only those earning in hundreds of thousand can afford to take of the family properly.
Some people in my country have their own personal businesses, which the also use to support themselves and the family.
Low income struggle at times to take care of themselves and their family. The usually struggle to meet their daily needs due to insufficient funds, which may result to borrowing of money to solve some basic problems.
Those who earning are high, do not usually face must of this problems because they have the money to solve most of their problems and also care for their families.
Duo we the economic may not be favourable to everyone, we still have hope that the inflation rate in the country will gradually drop to a low point and everything will be easy for everyone.
Thank you.