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Nov 24, 2024

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Name: Mehreen Pervaiz Student ID: 62852 Sap ID:63880 Course: Marketing planning & applications Faculty: sara khurram Essay Title: The Financial Struggles of the Middle Class: Navigating Challenges in Pursuit of Stability: Introduction: The middle class, often considered the economic backbone of a nation, faces an array of financial challenges that can profoundly impact their lives. This essay explores the key issues that burden the middle class, examining how economic fluctuations, rising costs, stagnant wages, and other factors contribute to financial strain, with the help of discussion with a middle class “Ali Raza” representing the crisis daily faced by a middle class. I. The Balancing Act: Maintaining a Budget Amidst Rising Costs: Ali Raza mention in his interview that the prices of grocery that they buy few years back are now double with same quantity. So one of the primary concerns for the middle class is the daunting task of balancing a budget in the face of escalating costs. As the prices of essential goods and services continue to rise, families find themselves stretched thin, striving to cover basic necessities like housing, education, healthcare, and food.

II. Education as a Financial Hurdle: The Rising Cost of Knowledge: Education, once seen as a ladder for upward mobility, has become a substantial financial burden for many middle-class families. As Ali Raza talks about the burden of fees not letting him to continue his Education. Escalating costs of higher education, coupled with limited access to scholarships or financial aid, force individuals to take on significant loans, leading to long-term debt and financial strain. and some people end up their studies in middle due to financial issues. III. Healthcare Dilemma: Balancing Wellness and Financial Stability: Ali Raza have limited source of income so Healthcare costs pose a considerable challenge. Caught between earning too much to qualify for assistance programs and not enough to afford high-quality healthcare services or insurance premiums comfortably, families often find themselves in a precarious situation, compromising on health to maintain financial stability. IV. Stagnant Wages: The Struggle to Keep Pace with Inflation: Stagnant wages exacerbate the financial challenges faced by the middle class. While the cost of living steadily rises, wages often remain unchanged, making it difficult for this demographic to keep up with inflation and maintain their standard of living. The consequences of this financial stagnation ripple through various aspects of their lives. V. The Mental Toll: Stress and Anxiety in the Middle Class: The cyclical nature of financial challenges in the middle class leads to increased stress levels and affects mental health. Balancing expenses, debts, and aspirations can result in individuals working multiple jobs or overtime, sacrificing personal and family time, further exacerbating the toll on mental well-being. VI. Towards Solutions: A Multi-Faceted Approach: Addressing these financial issues requires a comprehensive approach. Policymakers must focus on initiatives that promote economic stability, such as increasing access to affordable education, implementing policies to address the housing crisis, and ensuring healthcare affordability. Efforts to raise the minimum wage and create more job opportunities with sustainable incomes can alleviate the burden on the middle class.

Conclusion: The financial struggles faced by the middle class are complex and multi-faceted, this issue is not only suffering by one Ali Raza there are bunch of people like Ali Raza are facing this issue more or less, these impacting not only economic stability but also the overall well-being of individuals and families. As we navigate these challenges, a collaborative effort from policymakers and society is essential to create an environment where the middle class can thrive without being burdened by the weight of financial strain.

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