Rising Inflation: Extravagance or Necessity?

While controlling inflation is beyond the reach of the common people, managing expenditures in line with income is considered essential. But how?

With inflation soaring, people are being urged to cut down on expenses to survive. While controlling inflation is beyond the reach of the common people, managing expenditures in line with income is considered essential. But how?

Zainab Bibi, a 73-year-old resident, believes the younger generation is wasteful and extravagant.

"If people lived within their means, economic conditions would improve, but that’s not the case! Today’s generation is obsessed with showing off. From daily expenses to weddings, everything has become unnecessarily extravagant," she said.

Recalling her youth, she shared that new clothes were only made for Eid-ul-Fitr, and the same outfit was worn again for Eid-ul-Adha. Similarly, weddings were simple, lasting just a day or two, with basic meals like rice and meat served to guests. "In the 1980s, the difference between the rich and the poor was evident in their lifestyles and weddings. But now, it's impossible to tell who is wealthy and who is struggling," she added.

On tackling inflation, she stressed, "One cannot control inflation, but expenses can certainly be managed. If we only spend within our means, things will be easier."

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Meanwhile, 68-year-old Khan Wali from Peshawar lamented that gold prices have skyrocketed, making it a luxury even for the middle class.
"People delay their sons’ weddings until they can afford gold jewelry, and the bride’s family refuses to finalize a date until the promised jewelry is made. Parents take loans, often with interest, to afford dowries," he said.

He recalled a childhood where poverty was so severe that owning just two sets of clothes was common. When shoes wore out, they were repaired by a cobbler and used for months.
"Food was simple back then. I believe people are much wealthier now. If inflation was truly unbearable, why do we see crowded markets, extravagant weddings, and endless spending?"

Social Media’s Influence on Weddings
According to Wali, weddings now span weeks, introducing strange new traditions.
"People blindly follow celebrity weddings, adopting foreign customs while losing touch with their own culture."

Economic Perspective: Balancing Income and Expenses
Iram, an MS Economics graduate from Peshawar University, emphasized the need for Pakistan’s struggling population to increase income and reduce expenses.
"If income and expenses are not balanced, financial problems will worsen. The key is to match spending with earnings and prioritize savings for emergencies."

She pointed out that despite high poverty and unemployment, wasteful spending is rampant.
"Unnecessary expenses in weddings, luxury purchases, and outdated traditions add financial burdens. Gold and lavish ceremonies are not essential for marriage."

Practical Ways to Cut Costs
Iram suggested that household women can play a vital role in managing finances by planning wisely:

• Estimate your total monthly income and prioritize essential expenses like groceries.
• Avoid excessive use of electricity and gas to keep utility bills manageable.
• Simplify weddings and other celebrations instead of indulging in unnecessary extravagance.
• Break free from cultural pressures and outdated traditions that make life more difficult in an already struggling economy.

She concluded, "Life lived with financial discipline can ease the burden of inflation and many other hardships."