STREET SENSE

How are ris­ing prices af­fect­ing you?

Business monthly (Egypt) - - IN BRIEF -

There is def­i­nitely a lot of pres­sure on my salary to the point where I’m now reg­u­larly forced to with­draw money from my sav­ings just to get by. I have fixed costs like nurs­ery fees, loan in­stall­ments and money I give my wife for per­sonal spend­ing, be­cause she doesn’t work. How­ever, the budget for out­ings and house­hold needs has in­creased quite a lot—about a third com­pared to a year ago. Right now, I’m try­ing to do a lot of trim­ming to re­duce spend­ing, but it’s not easy. One month we need to pay for car main­te­nance, the next there are li­cense re­newal fees, then my kid’s birth­day after that, and so on.

Rafik Ab­del Gab­bar, 41, business owner

I am pay­ing much more at­ten­tion to what I buy. Our big­gest monthly bill is for our baby’s needs. We switched to a cheaper di­a­per brand, which saves us around LE 200 month. We are also us­ing cheaper for­mula milk and in­tro­duc­ing reg­u­lar milk ear­lier than we would have liked. These changes are sav­ing us around LE 500. We’re ra­tioning clean­ing prod­ucts, eat­ing more chicken and less meat, and to­ward the end of the month, we don’t eat ei­ther. I’m an­tic­i­pat­ing even higher costs next year, when we’ll be send­ing our son off to nurs­ery. I’m not sure what we’ll do then.

Shorouk Dar­wish, 27, hu­man re­sources ad­min­is­tra­tor

I live in a very poor, iso­lated com­mu­nity of around 100 peo­ple on the out­skirts of Rashid gov­er­norate, where ev­ery house­hold ac­tu­ally makes or does some­thing the rest need, be it food or other day-to-day con­sum­ables. We all work in­for­mally, and re­al­iz­ing how bad things have be­come, we’ve de­cided not to in­crease prices of lo­cally made prod­ucts and that all of us would pool our money to buy things from the out­side world and pay for elec­tric­ity. It’s ac­tu­ally been work­ing quite well for a month now, with those of us work­ing in the city be­ing the main bread-win­ners for the vil­lage.

Mark Ger­gis, 36, of­fice boy

I am re­tired. My bills are def­i­nitely go­ing up no­tice­ably, but I still can af­ford day-to-day items. Granted, I am sav­ing less, but I re­ally don’t need to save, be­cause all my kids are grown and fi­nan­cially in­de­pen­dent. The main things I’ve no­ticed has gone up dra­mat­i­cally lately are warm clothes and presents for the hol­i­days. They have in­creased sev­eral-fold since last year.

Maryan Tadros, 70, re­tired jour­nal­ist

My big­gest worry in 2017 is school fees. They were al­ready high be­fore, and we had to stretch. I’m not re­ally sure what we’re go­ing to do next year, when fees in­crease with the de­val­ued pound. The only solution is to use some of my wife’s salary to close the gap, or I could look for a se­cond job. These are the only ways I see us af­ford­ing a de­cent life.

Rashad Gam­mal, 45, ac­coun­tant

I am barely get­ting by. I had to call off my wed­ding in Novem­ber after see­ing how much prices have gone up. It’s too much. I can’t af­ford any­thing be­yond the ba­sics, liv­ing one day at a time, and hop­ing and pray­ing that some­thing bet­ter comes along.

Yassin el Wady, 26, se­cu­rity guard.

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