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Global Recession - How are You Affected?

By Novasky | CryptoEd | 19 Aug 2022

In past people were just speculating the recession. But today it seems like everyone is getting affected and end up changing some of their lifestyle too. So in the long run people have to adjust till the market comes back into the order. I have my shares of the things that are now changed and I may have to change my lifestyle as well.

Let's talk about the changing market trends which are going to affect all of us due to the recession. 

Real Estate, Rent and Buy

I rent, because I work away from parents. And I don't want to live with parents for rest of my life. I also feel that they must be feeling the recession despite the ownership of the property. I think rent and buy prices are affected a lot. Like my rent per month has now increased with 3000 bucks is a big huge if you ask me.

Renting and buying the real estate from this point onward is going to be expensive. In case of the renting out the stuff I am going to get hit and for that I have to change few things of my life too. Like spending less on food outside and cooking at home while handling the food properly.

Fuel Prices

I have noticed that the fuel prices are affected too. There is a way out of this. Use EV. But not everyone can afford spending the money as we are just out of the pandemic and having the down payment to the new stuff is not really a good choice. But the EV is definitely the future. It's just that EV may take time to give you the return of the investment.

I have currently petrol based vehicle. I hope to change that. It's a good bike. I recently also passed the car test, I am going to buy one soon. Life is too short waiting for that. I am going to put an end to chasing dreams and start living it. Fuel is going to be concern but the place where I live is perfect for the EV from now onwards.

Bills of Everything

Now that real estate is expensive means business will have more expenses, they will raise price. They raise prices means food becomes expensive. If food becomes expensive then everything that is out there slowly starts to add up in bills around. And so the bills for everything continues to increase in the cost of living. 

You may notice that this sort of the thing we can't change. Like we have to increase our income and also we have to think of the investment options that could help us for this in near future. You have to plan this because otherwise things just don't add up in the grand scheme of the things. Make sure to reduce recurring subscription if you can, pay yearly in one go to avoid if possible for some.

Things are starting to take shape and the recession is going to bite us slow or hard depending on where we are placed and how we choose to do things for our life in general.

I am trying to write on more places, I may pick up some online gigs if I can and try to increase my savings.

How are you handling the recession? Anything changed or everything normal as usual?

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