How can a common man live during these times of inflation?

Question

These days it is becoming difficult for common man to lead a normal life. Can any one suggest the way to cut down the monthly expenses?

Answer 1

The problem is that a normal life, it turns out, is really pretty abnormal. Our normal life here in the West usually entails living well beyond your means. Frugality is an art that was lost in the early part of the last century.

If you're a common man, like you say, you probably have loans, mortgages, and credit cards. Talk to a banker about consolidating your debt. Think about downsizing-- both your home and your car(s). Walk or bike more to save on gas. If you have the space, try growing some of your own food; or look into joining (or starting) a local community garden or argriculture co-op. Stop buying things that you don't need.

It may be increasingly difficult to life a "normal" life, but it is possible-- and admirable, and beneficial-- to live a modest life.

Answer 2

Is normal a new car payment, a house too big for the actual needs, jet ski, motorcycle, boat, travel trailer or motorhome, long distance vacations, new clothes weekly, dinners out, and not just McDonald's $1 menu, etc?

Perhaps its the over-exuberant lifestyle most try to live.

By the time most are teens their folks have made a bit of money.

The kid thinks he needs to leave those surroundings in to one the same or even better than what they grew up in.

To be reasonable, they'd start small and frugally, then buy the toys after they have some maturity.

Answer 3

It is all about perspective.  As compared to a common man a hundred year ago, our life is wonderful.  We work only 40 hours a week.  All the basic necessaries are readily available and relatively affordable.  

Now, how to improve our current lives.  The issue here is to pursue happiness, not the trapping of happiness, like a big house or a fancy car.  The key is to live within your means, always save 10% of every pay-cheque, and do fun things that do not involve big $$, like a walk in the woods, a BBQ on the beach.

The bottom line is stop spending on silly things.  No one needs a $4 coffee or the latest mobile phone.  Just stop consuming for consuming sake.

Answer 4

gsa and Tom are right on the money with that.  When times of inflation occur, we have to make sacrifices to stay in the black.  For example, my family doesn't have television anymore.  It's been a change, but we can do it, and it's actually brought our family closer because now we play games together.  We have older cars, and I actually ride my bike 11 miles to work to save money on gas.  That is how an individual can live through it.

For the general public as a whole, if enough people discontinue services or forego things that aren't really necessities, then companies will be forced to lower their prices to stay in business.  Don't count on that though, because you can't control the public demand, but at least you can control the way that you spend your own money.