Sec17 Wk#4: The effects of economic hardships on families by @databae || 30/04/2024.

Hi Beautiful people 😚

Hope you all are doing Ok.

Welcome to another week to put out quality content that educates.

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Today, I will making my entry in the Steem kids and parents community on the topic *Effect of economic hardship on families

And I really want to use this medium to really appreciate the community for the tireless effort in coming up with resonating topics.

Economic hardships is harsh reality for many families, because it challenges their ability to meet even the most basic needs.
In most cases, they have accumulated mounting debts, and these finds it's way to leave lasting impacts on both children and parents and even the community at large.

A picture of me in 2022

Right about now, I will delve into the effects of these hardships. These truth is that most families affected severely by hardship suffers some effects. I also believe that anyone that wants to solve these problems has to firstly understand the impacts.
For clarity, Economic hardships occur when families struggle to afford basic needs, and the following are ways it affects them:

• Financial Strain:
  Families often face uncertainty about their month in, months out, with some members unable to secure employment or facing low wages. When this happens, the resultant effect is that isn't enough to take care of basic needs let alone the secondary one.

• Psychological Impact:
  Economic hardships induce significant stress and anxiety within families. This, if not properly taken care of, leads to emotional distress or sleep disturbances. Even in our environment, we have people who slump on broad daylight as a result of high blood pressure. This can be the psychological impact of what they are going through in one way or the other.

• Health Consequences:
  Similar to what I said above but we even have people who do have access to healthcare because they lack the financial strength to eat good food or even take themselves to the hospital. They tend to deteriorate the more as days go by.

A picture of me in 2021

• Education and Opportunity:
  Children from financially strained families may attend lower-quality schools, and this finds its way im impacting their future job prospects. Similarly, parents may struggle to advance their careers due to limited opportunities.

• Social Dynamics:
  Families experiencing economic hardships may face social stigma and isolation. This isn't far fetched asdisrupting their social interactions and community integration.

Coping Mechanisms

Let's talk about the coping mechanism to get rid of this menace. Despite the challenges, there are strategies families can employ to get better at least and they are:

Budgeting and Financial Management

Families can carefully manage their finances by creating budgets to prioritize essential expenses such as food, housing, and utilities. They may also look for ways to reduce costs, and avoid unnecessary expenses to make ends meet.

Seeking Support Networks:

As long as this is done with the intention to remunerate, families can reach out to their social networks, including friends, and relatives for emotional support. Another way is that support groups or online communities provide a kind of solidarity and advice-sharing opportunities for families facing similar challenges. These platforms has a lot to offer to families facing hard times.

A picture of me, now

Skill Development and Education:

To improve their financial situation, families can also invest in skill acquisition and education. This could involve enrolling in training programs, attending workshops on financial literacy, or pursuing higher education to increase job prospects and earning potential in the long term. It may not come immediately but with calculated step, it will surely pay on the go.

Bonds:

Despite the challenges they face, one good thing every family should strive to maintain at all times is a positive vide and nurturing strong family bonds. They can do so by engaging in open communication, mutual support, and solidarity in overcoming adversity.

In Conclusion, Economic hardships pose too many challenges for families,. But By acknowledging and addressing these issues, we can strive towards creating a more supportive society for all.

By the way, we are called to be our brother's keepers.

Thank you for reading 😁

I will like to invite @modesta123 @ellamertins18 and @juec to be part of this amazing contest.