Inflation can be a challenging time for many individuals, particularly those who live on a low income. Rising prices can make it difficult to make ends meet, let alone live comfortably. However, there are always people who manage to thrive in challenging times. Recently, we’ve all been dealing with increasing prices for goods and services, and the end is probably still not in sight.
So how do you manage to stay afloat while the water is getting higher and higher? There’s obviously no magical cure, because then everyone would use it. But we can share some experiences from people we’ve spoken to. Here are four inspiring stories from individuals who managed to use their low income to still live comfortably during the inflation of 2022 and 2023.
Miguel (34), a single father living in a one-bedroom apartment, managed to stay ahead of the game by cutting down his expenses. He had always been a bargain hunter, but now he became even more resourceful. He began to purchase more items in bulk, which saved him a considerable amount of money in the long run. He also used public transportation instead of owning a car, which not only saved him money but also helped him reduce his carbon footprint.
Anna (71), a retiree who lives on a fixed income, managed to live comfortably by learning how to cook and prepare meals from scratch. She found that cooking her own meals was much cheaper than eating out or buying pre-packaged meals. She also started a small garden in her backyard and grew her own fruits and vegetables, which not only saved her money but also gave her a sense of purpose and pride.
Carlos (22), a college student who worked part-time, found creative ways to save money on his textbooks and school supplies. Instead of buying new textbooks, he searched for used ones on various online platforms, which saved him a considerable amount of money. He also used free online resources for his studies, such as Khan Academy and Coursera. He even managed to sell his old textbooks to other students, which helped him earn some extra cash.
Sarah (29), a single mother of three, found comfort in her community. She organized a neighborhood swap where people could exchange items they no longer needed for things they wanted or needed. This allowed her to get things like clothing and toys for her children without having to spend money. She also used the community garden to grow her own fruits and vegetables, which not only helped her save money but also provided her children with fresh produce.
In all of these cases, these individuals managed to live comfortably by being resourceful, creative, and community-minded. They found ways to reduce their expenses, increase their income, and build relationships within their community. These are valuable lessons for all of us, regardless of our income level. By being mindful of our spending, being resourceful, and building strong relationships, we can all thrive in challenging times.
Don’t let stress and dispair get the better of you, because they’re poor counsellor. Talk about it with friends and family (and definitely don’t let shame get in your way, because this can happen to anyone). Sometimes the best solution is to come up with multiple smaller solutions.
