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

Nowadays, living expenses have grown higher than the average compared to the

last

decade in different countries.

Thus

, many

people

are struggling to keep up with the sudden changes and trying to manage their spending.

This

essay,

therefore

, intends to discuss the potential outcomes of the high prices bestowed upon the citizens and their communities and the possible ways of solving and managing

this

issue. Considering the fast increase in living costs, it eventually created negative effects on society. One of the main ones is its effect on

people

's mental and physical health.

For instance

, in order to save as much

money

as possible,

people

tended to reduce their spendings on food and groceries which affected their health considerably. As the stress of attempting to save more

money

, the majority of

people

got mentally exhausted.

Furthermore

, entertainment became rare since most societies are trying to maintain the necessities only. As the issue kept growing, a number of resolutions have to be taken to deal with

this

problem.

Firstly

, each citizen needs to set up a monthly spending plan that covers the priorities and leaves a small amount for entertainment use. A second possible solution is to find a working place with a higher income or a second job. Another step is looking for cheaper alternatives, which can save a good amount of

money

.

To sum up

, the high cost of living is a global issue that many

people

are worried about.

As a result

, it became disadvantageous for societies worldwide as it caused problems of poor mental and physical health.

Moreover

, it made many

people

give up on entertaining themselves just to save

money

.

Therefore

, the best way to solve

such

a problem is to be systematic in spending considering both the priorities and leisure time. Other ways could be accomplished through having higher pay or a second job or by reducing costs by buying cheaper goods.