There is an ongoing challenge on LeoFinance over the purchasing power of HBD in your hometown. Before we examine the case of Turkiye, (formerly Turkey), let's remember what the challenge is.
What Can You Buy With 10, 100, 1000 HBD ?
Consider the economic situation in your hometown and design your post over the prices of vegetables, dairy products, electronic devices, or anything that can be a need for a person.
Now that you are thinking of how to make this post, try to tell us a bit more about how inflation has affected the price of goods in your hometown and has damaged the average person's purchasing power about the fluctuation in your purchasing power, and the side effects of inflation.
Push the Limits of Your Creativity
You can talk about what would happen if you had a 100 HBD monthly income or how much HBD would be enough to live in your hometown.
If you are ready to see the situation in Turkiye, here we go 😉
Purchasing Power of 10, 100, 1000 HBD in Turkiye
To be able to view the prices and the purchasing power, we will use the Getir delivery service for grocery items. Since the USD/TRY pair is so volatile these days, we will consider 15 TRY = 1 HBD on average.
As of writing, the minimum wage in Turkiye is below $283. So, every single HBD matters when you go to a shopping mall.
As you can see above, you can buy some kilos of vegetables with 1 HBD. For example, You can buy 500g of Grapes or 900g of Bananas for 1 HBD.
The prices may look cheap when you divide by 15 but the prices have tripled within 2 years. Besides the loss of value of the fiat currency, inflation is nearly unbearable.
Last but not least, you can buy 1L of Milk with 1 HBD daily. If we consider the inflation rate and the return of HBD, it is not bad.
Prices of Gas, Rent & Electronics in Turkiye (2022)
Both the tax rate and the loss of purchasing power made it nearly impossible for people who get minimum wage to drive/her car, buy a device for leisure time or rent a new house.
Since the beginning of the year, the price of gas has been gradually increasing. Thime, it was stable, strong DXY directly terribly affects the price o for a limited timef gas.
If you have around 1000 HBD, you may purchase a PS5 and a couple of games to have some fun. On the other hand, you may pay $400-450 for rent.
The calculation of the cost of living shows that it takes $1400 for a person to have a happy life with 2 kids. If you are single, you may live below $500 HBD per month.
The Turkish Lira has lost a lot of value due to the wrong policies of the government. The governors thought that going against the market may bring them any kind of benefit to keep their realm strong. Yet, as expected, these wrong policies only brought problems to people.
Anyone can sustain an average life with 500 HBD per month. Regardless of the risks in the fiat currency, pHBD & HBD can be secure places for many people to save their purchasing power.
Your Turn: Join the Challenge 🦁
1.Reblog this post
- Publish your post using leofinance.io
- Use the tag "HBDvalue" so other lions can find your posts and curate them
What is the case in your country?
Share with us 💎🐾