Inflation and Real Estate - the dear cost of living!

Hello Everyone, Namaste 🙏😊

source

How are you doing? The basics for human survival is food, clothes and house. However life is not only dependent on these 3 things only. Nonetheless A House to Live in, having clothes and food for ourselves is kind of survive necessity but we need more than that to live a life. To be honest living nowadays is not that simple. It's costly, demanding and requires constant appreciation in wealth, skills, relations, health etc. Gone are the old ways of barter system where we exchange goods with goods, everything is changed after birth of currency.

The cost of living in my country i.e. INDIA has been on rise for the past few decades. Since we are currently number one population in the world, the scarcity of resources is already reaching to limits especially in Top Cities of India such as Mumbai, Bangalore, New Delhi, Hyderabad, Chennai, Kolkata, Pune, Chandigarh etc. I am currently living in New Delhi and the biggest expense here is Rent. Yeah, Real Estate in Indian cities is reaching extremely high now a days reason being the high population and less land. Now cities are moving towards multistorey buildings, appartments and societies, owning a plot or own house in cities like Mumbai and New Delhi is no less than a dream and also almost out of reach for a middle income person.

Other everyday things like food items, transportation, services are also expensive in cities as compared to village and small towns in India. However comparing with America, European Countries, Canada , Asian countries like Japan, China etc India is quite affordable a affordable place. I don't anyone living in India as though of moving out just for the sake of cost of living. However there are other factors for settling abroad such as career, better living standard, business etc.

Healthcare in India is also quite affordable compared to other countries, we are witnessing huge inflow of patients overseas due to high medical expenses in their country. Education is also affordable and easily accessible. In India government is providing basic health care and education through government run institutions at free of cost which is really commendable seeing the huge population of the country. Then the government also introduced various health insurance, education scholarship programs, loans at affordable rates etc. There are various schemes and programmes for middle class people here making it somewhat easier to live a sustainable life.

For me, i like so many things in my country which makes it worthy living, there are many beautiful places and people here. We are also a major growing and developing economy and hope we can increase our standard of living in near future just like any other developed countries. I can't imagine myself moving abroad. Although after retirement, I will definitely move back to my hometown which a village.

If I talk about on an average the cost for living in India can be managed by a common person living a simple and ordinary life, a single person can sustain easily on somewhere around 100-200$ per month. Also it will not be easy to generalize this amount as i just kept the necessity to minimum. As there are people in India surviving on a income of less than 100$ a month also. So it's all depend of area of living, one's expense style etc. But yeah, i would say India is currently a affordable place compared to other developed nations of the world. I am currently trying to focus on savings majority of my income and trying to invest accordingly to beat the Inflation at best. The cost of living will keep going up, we just have to invest and save accordingly. Then we should also look for multiple income sources and passive income streams .

Posted Using InLeo Alpha

Posted Using InLeo Alpha