So yeah, transport fares, food, bills. Everything gets more expensive every year, why? What's the cause of this trend? When did all start? is there something one can do to minimise this trend?
Why do living costs keep rising? And, what can one do about it? Watch
- Thread Starter
- 02-01-2013 04:49
- 02-01-2013 12:04
its called price inflation. Its alright as long as wages rise roughly in step, then your real income remains the same. There's normally a bit of a lag in which real incomes fall but in the long run, real incomes actually tend to slowly rise roughly in line with the rate of technological progress.
- 03-01-2013 01:05
I think there is actually some ways to minimise your personal loss against inflation. Since ,probably most people would know, inflation is measured by CPI/RPI, they take measure by checking price of goods monthly and occasionally take in/out item in their list (slogan would be called a basket of goods). Here comes the main point, the CPI is quite selective, so the inflation that you face may not be the same as what they believe to be. A way to do this is to have a rough(well, have to be quite accurate in fact) idea on the price that you normally pay. and that you know swap to other goods that are not as inflated, so the effect of inflation is minimised on you.
Just realise that I may not be answering the question, but anyway.
- 03-01-2013 15:49
It's called Inflation. Wikipedia it.
Wages should go up by at least the same rate, so really living costs do not rise. But you need to have a job in the first place for that.