The cost of living is higher in many countries. What is the effects of higher prices to individuals and society? What is the best way for people to deal with this problem?

Living expenses differ from one country to another depending on many economic
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aspects
aspectes
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aspects
. To that
extend
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extent
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, some countries have higher living
cost
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costs
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than others. In
this
essay, I will discuss the impact of higher living
cost
to
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on
show examples
individuals and society and
also
provides
the
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apply
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solutions to those impacts.
To begin
with,
people
who live in
country
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a country
the country
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with
higher
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a higher
the higher
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cost
of living may not be able to
fulfill
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fulfil
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their basic needs.
For example
, 2000 dollars of monthly income is sufficient for a family to live comfortably in India, but the same amount barely covers the
cost
of rent in New York.
Moreover
, as
people
spend more
for
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on
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basic needs, they will not be able to
safe
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save
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for retirement.
As a result
,
people
will have to work even post-retirement age which
result
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results
show examples
to lower job opportunities for younger generations. Low job opportunities will leads to
high
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a high
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unemployment
rate
and
therefore
higher criminality
rate
in society.
Although
high living expenses
creates
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create
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some issues, there are
few
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a few
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things that can be done to solve them.
Firstly
,
people
must
cutback
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cut back
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on
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unnecessary
unneccessary
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unnecessary
needs.
Budget
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The budget
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spent for entertainment
subscription
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subscriptions
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,
for instance
, can be reallocated to basic needs
such
as food, and rent.
Secondly
, retirees should consider
to move
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moving
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to cheaper countries. By living in countries with lower living expenses, their retirement fund can sustain their life much longer.
Thirdly
,
government
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the government
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should open more job opportunities in order to lower the unemployment
rate
and
therefore
lower the criminality
rate
. In conclusion, high living
cost
has some negative effects
to
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on
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individuals and society.
However
, there are few actions that can be taken to solve those issues.
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  • Introduction
  • Body paragraph 1 – Problems
  • Body paragraph 2 – Solutions
  • Conclusion

Examples to start your body paragraph:

  • One of the first problems of the...
  • Another problem that needs to be considered...
  • A possible solution to this problem would be...
  • One immediate practical solution is to...

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Topic Vocabulary:
  • cost of living
  • higher prices
  • financial burden
  • quality of life
  • social inequality
  • disposable income
  • poverty rates
  • cost-saving measures
  • skills and education
  • sustainable lifestyles
  • alternative lifestyles
  • government policies
  • government regulations
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