In the recent world, where inflation is pushing to the roof, living is not an easy chore anymore. In village the model is of subsistence where consumer and producer is same in terms of food, residence but in urban areas, the entire month's salary is only enough for the rent.
Living and leading a decent life is challenging. Without budget knowledge it is hard to balance the expenses of life. It is no more simple as earning and living, now it requires strategy, hedging and the future roadmap revolves around the one important factor - Money.
Although we generally see that pay scale is lesser than the first world nation, but the purchasing power somewhat offsets the advesrse effect of existing paying slabs. The national government is aware of the middle class and is also sensitive towards the changing dynamics of middle class population. It is interesting to know that as much as 60% of GDP is realted with the middle class consumption.
Also the central bank with its policy tries to achieve a favorable living conditions of every section of the society. If I consider myself, the living expenses for living in a tier 1 city will cost you $700 per month, if I target for a standard life style. This $700 will involve 1 BHK apartment rent, travelling expense, electricity, food, daily chores, etc. Although the current scenario doesn't seems alarming but a creeping inflation or stagflation is enough to make it a worse scenario.
If you move to rural area, the cost of living family along with rent will hardly go upto $150-200. This is because the availability of food at decent rate, transportation is relatively cheap, plus a lot if family is backed by their agricultural produces. Availability of cattle and a decent farm land will reduce this living cost too.
If we go by the inflation benchmark, the mega surrounding ciuntries seems to be in alarming situation right now. For example, nations like Pakistan, Srilanka, Myanmar aren't able to realize their potential because of consecutive political turnoils. This not only hit the living standards but the basic amenities also becomes unaffordable for many. Last week, I was reading about the hunger report and came to know that around 1.2 billion of population are having problems in terms of nutrition and availability of food. 250 million people around the globe aren't able to eat enough in the day.
This shows the sorry state of us as a family where a part of our family isn't able to meet the basics.
I am living in a nation whose economy is pretty stable and having a prosperous projection. Though there are certain things which are at time too costly to afford but with days its getting better. Relocation is also a good option if it gives a decent pay which can help in both living and saving. Considering the booming era that we are living in, I feel that staying in my nation is a better choice at this moment to live a standard life.
