This essay will investigate the contrasting ways in which people live has changed in the current financial crisis.
The world is experiencing a tragic economic crisis caused by the rising price of oil and fuel and the credit crisis which have affected many business sector such as banks and insurance company, but it also have had a negative effect on people's life in many aspects.
According to Kollewe and Seager (2008) The financial problems have also hit the job market as number of unemployed claiming jobseeker benefit in Britain has never been so high in the last 17 years it rose by 31,800 last month to 939,000 and because the job market has became very tight it is quite difficult to find a new job in our days.
As the price of everyday product have gone up British people are finding difficult to live their lives as they used to, therefore in order to cope with the financial crisis they have decide to changed their shopping habit since the start of it.
Ross(2008) have said the that due to the financial situation 65% of British consumers are not been faithful to their shopping retailer because there are cutting out or changing to a food cheaper s retailer hopping they are switching from M&S and Waiters to Aldi, Lidl and Netto shopping in order to save money and survive.
www.marketingservicestalk has find out that many people are ready to make same change on their life habit due to the current economic situation in the world. According to the site 32% have already decide to cut off same luxuries such as holidays or weekend trips, mobile phone contracts, buying a new car, switching energy suppliers, leisure activities people have decide to do joking rather them going gym or swimming and instead of going out to meal or a movie with family and friends, they have decide to stay at home for home cooked fresh meal in order to save as much money as they can. Despite all the negative impact of the global financial crisis on people's life style Miranda Fitzgerald 2008 who have said that many online company such as Yahoo! Finance UK which have had a boom of 48% customers accessing the sites because consumer are changing to online shopping habit. They prefer the web to find out instant news and information about the current financial crises as well as to buy their needs items such books, Clothes, books, CDs and DVDs which are the more requested product on the net
The global financial crisis have also had a very serious affect on people's health, since the start of the economic crisis the number of people suffering from heart disease due to the high level of stress caused by business financial difficulties, apart from that the result of the financial crisis has also increased the number of suicides in the world. Kennedy 2008 wrote that many people are finding hard to deal with their financial problem caused by the world financial crisis, the author give an example of a former money manager who decide to kill himself after killing his whole family including his 3 children, wife and mother in law because of financial problem.
People are conscious that they have to save more money as this economic crisis has affected them directly Consumers and government have to work to resolve these economic conditions. In conclusion the global financial crisis has increased the poverty in the world and have changed many people every day habit.
can you please look at it
sinara Neto
top of page