the cost of food is also getting expensive in this part of the world. Most food items have actually doubled in prices. I think that may actually be the case in other parts of the world.
Buying food at a wholesale price presently is the best idea. That is why some people always use certain percentage of their monthly salary to buy food stuffs for the month. You will buy it at a cheaper price that way.
Yes, the price of food has almost tripled in my country too, I think it is something that we are suffering in most countries and no one is being saved from this misfortune.
Feeding yourself three times a day has become a very difficult call these days. Food prices have suddenly risen. In my country,. some foodstuff are even scarce making it hard to even afford the few ones.
I think the major reason is as a result of economic downturn around the world. A lot of things started the skyrocketing in price after the coronavirus pandemic in so many countries of the world.
It is also due to the blatant printing of money by the banks after the coronavirus in order to reactivate the economy, let's remember that during this period more than 25% of the total dollars in circulation were created, just as it happened with other fiat currencies the same.
That actually was one of the major reasons why some countries are experiencing economic downturn. I think they were just doing that in order to reactivate the economy.
The government of my country decided to close borders against importation of food items. That is why some food products are scarce. To eat a good meal with protein takes a lot in my country.
Yoy don't do that kind of thing without putting down necessary framework that would cushion the effect of that policy on the populace. You can't just wake up and close borders for a completely import dependent economy.
Since I really do like food, I spend too much money on it, and it really sucks Now I'm trying to control myself to improve not only my money but also my health because I do eat too much junk food.
This should be a cause for concern for you in my own perspective. putting 80% of your income in food is not advisable in my perspective because at the end of the day you may not be able to invest or save.
But that is how the economic reality in the country truly is. I spend 60% to 75% of my total income on food nowadays. Food prices are astronomically high unless you are living with your parents would you not feel this.
Instead of me to spend such amount of money on food it is better I venture into farming. spending 60% of your money on food is actually very bad in my own perspective. It will make you never to have enough money to invest in some certain things that will make you are chief financial freedom.
