Contest || The Effect of Rising Inflation on Everyday Life.

^{Hello Everyone. I am @khokonmia From Bangladesh .}

Greetings to my dear Steemian friends. Welcome to my new competition post on inflation. This week, one of our respected admin @deepak94 sir, has organized a new competition on inflation.I am taking part in today's tournament because, in my opinion, it is particularly significant for us given the current circumstances. I am delighted to be involved, so let's get started right away.

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Impact of inflation on life

First of all, we need to know what is inflation?Because of the current state of the local and global economies, inflation has gained significant attention. In addition to our cost of living, the cost of everyday commodities is rising daily. I want to talk about some of my personal experiences with inflation.

• Increase in cost of living: The biggest impact of inflation has been on my daily expenses. The prices of daily necessities that were available at a fixed price earlier have now increased. In particular, food, fuel and transportation costs have increased significantly. As a result, more income is needed than before to maintain the same standard of living.

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• Impact on savings: In the past, it was possible to save some money at the end of the month, but now it has become difficult. Since necessary expenses have increased, the amount allocated for savings has decreased. In terms of investments, such as fixed deposits in banks or other savings schemes, the real returns are also decreasing, as inflation is reducing the purchasing power of money.

• Increased need to earn: Due to inflation, if you do not earn more than your previous income, your standard of living will decrease. Therefore, finding alternative sources of income has become essential. Interest in freelancing, social media content creation (such as writing on Steemit) and other sources of passive income has increased.

• New perspective on agriculture: I have a light idea about agriculture and am thinking of returning to it in the future. Achieving self-reliance in food production is very important to deal with inflation. So personally, it seems that starting farming, even on a small scale, will bring benefits in the long run.

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It is not possible to avoid the effects of inflation, but it is possible to manage it to some extent with proper planning and finding alternative ways to earn money. From my experience, it is important to keep track of expenses, find alternative income, determine the right investment strategy, and think about the aspects of becoming self-reliant in food production.

SL No.	My Invited Steemit Friends
1	@max-pro
2	@megaaulia
3	@marianri

Well friends, that's it for my participation, I hope it is to everyone's liking. And I thank you in advance for the comment and support that you are willing to leave me.

◦•●◉✿ Thank You ✿◉●•◦

Best Regards
@khokonmia