Here in this article, we are giving you a sample short essay on how to keep up family ties despite economic pressures. We will use the following hints for the short essay- Impact of economic pressures, Lack of time to spend with the family, Lack of love and affection, Absence of human relationships.
How to keep up family ties despite economic pressures
Nowadays life is demanding, these are the days where both parents have to earn money for the family, still, it’s not enough. Cost of living, education, lifestyle is dramatically increased in the last decade. On top of it social media influence, FOMO, ease of purchasing, the convenience of home delivery, effects of catchy advertisements and overall consumerism lures us spend more on unnecessary stuff.
This is the generation which spends more on wants than needs. This is the generation which spends more than they earn. A typical middle-class family might consume grocery of ten thousand rupees for a whole month. But when a family goes out for a movie and a pizza place it spends 3 to 4 thousand in four hours. They buy a smartphone or an iPad of 60,000 to 80,000 rupees for the sake of showcasing the upper-middle-class lifestyle. A good phone of 10000 to 12000 will perform the same tasks but to show off or to keep up with friends and society people spend without logic.
Businesses will do their business, they will do catchy advertisements and make us follow addictive patterns. It is easy to blame them but we have to focus on ourselves too. We are the part of the problem then we have to part of the solution too. The consumer, we, the people are having bad spending habits. We take credit cards and use if for unnecessary shopping of clothes, decorative items and what not. Having a credit card handy is a good thing, but it should be used for emergency purposes like a medical emergency or unplanned financial need.
All these things put a financial burden on the family. The breadwinner has to always look for more options to bring in money. They might need to find ways to get promotions fast or get a part-time job or do freelancing. In such a scenario, both parents have to work. Yes, women should work; but not for just satisfying never-ending unthoughtful financial demands but to earn their freedom and to stand on their own feet.
Earning more money means putting in more time for it. financial responsibilities take precedence over everything. People are not able to find time to spend with their children. Some put their children in a boarding school so that they give more time to earn money. When people don’t have time for children how they are going to find time for friends, relatives, and their kith and kin. All these people are very mattering in the family. Families are made by people, not by fancy furniture.
This lack of quality family time, constant pressure to fulfill financial demands are harming the relationships between husband and wife, parents and children and more. Yes, the technology, financial growth brought the world together but it is drifting families apart.
There can be several solutions to mitigate the economic pressure but before all that one has to realize that they have a problem. If people don’t understand that they have bad spending habits they will never look for solutions. So, the realization of the problem is very crucial to find a solution. They need to realize the value and place of relationship is their life before its too late.
Financial Education and Planning
Our education system taught us everything but financial and life skills. These skills are very crucial to steer life in the direction one wants. People also don’t put in efforts to learn the same. Most of the population don’t understand the difference between assets and liabilities. They cannot differentiate needs and wants. One must learn these basics of life.
This financial education will also teach financial planning. Where to spend, how much to spend, how to save, how to invest and how much return one should expect etc. There are a lot of tools, apps, services available to manage finances but it’s all depends and how financially literate person is and their willingness to acknowledge the problem and eagerness to solve it.
Importance of Relationships
One has to realize that all that one does is for the betterment of the family. But if one just keeps running after money and don’t find time to spend with family then its all in vain. People realize this drift in the family when it’s too late. Time flies, it ever stops, it never waits.
Yes, a career is important. One cannot function in this world without money. We have to earn it but we also need to understand it is a tool to run life not the ultimate goal of it. (Also read: Money can’t buy Happiness)
Note: We hope this essay on how to keep up family ties despite economic pressures will help you in your assignment. We also suggest you guys to learn financial skills (not a full MBA). You are a student if you start early your life will be financially balanced and you can save yourself and your family from economic pressure which will eventually come with time.