Just the tip of an Iceberg: Surviving Financial Challenges in 2022

After 2020, a lot of people who were financially liquid, almost have the same sentiments, that "Money is hard to come by these days." Some even resorted to borrowing from friends and family or take up loans from the banks or major financial institutions. Once it was very easy to do budgeting, whether in the home or in the company one has built. From that year of darkness, until the last few months of 2021 has even more financially critical because it wasn't only the pandemic that the world dealt with, prices of commodities have gone up, people lost jobs and sources of income, and then the Ukraine-Russia misunderstanding happened, that has rolled over to add to one of the biggest causes of financial downfall for not just a few, but all nations were greatly affected in 2022. Prices of commodities have doubled or tripled and some companies have totally closed, when they were barely surviving in the previous months.

Every household in all parts of the world is suffering from high prices of basic goods and commodities. Good for those who can still meet these challenges and still live abundantly, but with restraint. Those who don't, either take up other means or added jobs and some, in order to survive, open up small business with their capital borrowed. Good thing there are short-term financial solutions that could help in their endeavor.

Taking up loans can have advantages and disadvantages, especially in these times of inflation. Who would want to give you a loan, but only those who have more to spare. Good for those who have saved a lot and have no other obligations.

Coming back here in the land of a thousand pagodas, I have felt this challenge because of how high the prices we had to pay for basic goods here. Although, if we compare it with those from my home country, it's still cheaper here. We can still eat what we want to eat at any given time. But if you look around you, people are suffering. Businesses have to deal with the fact that in 2021 their economy went down because they had to deal with other matters aside from the pandemic and people not only lost their means of living but also what's most important for them. Banks don't sell dollars by the way, and a lot of the locals want to get hold of the dollar, never mind if it's expensive these days because it's the only currency that they know is stable. They think foreign workers like us don't have worries, we do. We are also greatly affected because our salaries are not in full dollars anymore, and the exchange rate given is the current day rate, while it will change daily, higher than what we're given. Sending money for our obligations in the home country is also difficult now as no banks would cater. So we have to deal with delayed payments of obligations in the home country. Added burden, come to think of it, but it's better than nothing.

Anyway, dealing with financial challenges can be a burden if you are not flexible enough to embrace new means to survive. There are many financial resources out there that will teach us how to go around this dilemma. Financial gurus have a wide audience now more than ever because a lot of people want to learn about how to cope with the financial crises.

For people who have problems in budgeting, debt management, student loans and the like, there are companies that are willing to help ease the burden, Lending money in times like now is surely risky, but some companies take this as an opportunity to expand, if not help ease the burden that many are facing. True, they earn from this, but hey, it could also help save a life drowning in financial woes.

Best to say, it is still the safest option, to save while there are some money to save and to be very wise in spending. Unnecessary expenditures aren't helpful so we should do away with that. Oh well, I hope everything will be okay financially soon, for this country, for my country and the rest of the world.