Life is filled with many opportunities and challenges. It's how Allah has made this world to test his servants. People differ in facing life circumstances and reap the outcome of how they perceive and act on those.

There are two ways of facing a problem. One is to blame or curse the problem. Another way is to develop ourselves to meet the situation stronger. If we can manage ourselves in such a way to face an issue, we can reduce the impact of that issue or even make use of that to develop further. We are who we are today because of all the challenges life offered. The skills and strengths we possess result from bravely facing those challenges.

At present, we are facing economic difficulties due to high inflation and the prospect of a recession in the coming months and years, as predicted by economists. We already feel the impacts of high day-to-day expenditures with every area of life on top of soaring energy bills. Previously smooth sailing life is getting very stressful and depressing to get on now.

Who are to be blamed for this situation? Government? Covid Pandemic? Economic mismanagement? Ukraine war? Or is there a point in putting the blame on someone and trying to achieve something at all? 

Cursing the situation, talking about all the negatives, making ourselves more and more depressive and letting our mental peace down is one way of facing this situation.

Islam says Mumins will look at hardship from a different perspective:

1. They would focus on keeping their minds peaceful.
2. They believe that every challenge and adversity comes from Allah SWT to test their beliefs and actions.
3. Allah might have planned the hardship so that we may be grateful for our easy and comfortable life before the beginning of all the trials.
4. Maybe Allah wanted to make us grow closer to him, surrendering our hearts.

Once we accept that hardship comes with the full knowledge of Allah and make our minds peaceful, the solutions will appear in front of our eyes.

The current phase is one of the most economically difficult times in our lifetime. How can we face this challenge constructively? It is unlikely that the price hikes will come down any sooner. We should realise that it's about increasing our earnings and managing our expenditures to face the new normal economic conditions. There are short-term strategies and long-term strategies to overcome this economic crisis.

In the shorter term, we must rethink our expenditure pattern to suit our needs and income status. It may be a good idea to plan the next two years carefully regarding planned expenditures and major commitments. 

Organising a whole family get together to discuss the family's financial situation to manage the expenses better might help some families. This way, the parents and children can better understand what's happening and take ownership of the decisions made in the family. Forming and joining community groups to be aware of the discounts/bargains or buying bulk to reduce cost may help in some instances.

In the longer run, we all need better financial education to plan for the next 20-30 years to improve the prospect of a bright future. We have seen people changing their entire careers during the covid pandemic. The golden advice of sticking to only one occupation and focus should be revisited. Instead, we might have to concentrate on multiple careers. Incorporating discussions on financial planning in our community gatherings can increase our involvement in this aspect.

Together we have all come out of the covid pandemic with so many losses and a newfound way of living. It took almost three years to overcome, but we have successfully faced this debacle. 

Now we are face to face with the economic pandemic clasping around the globe. But, Insha Allah, we will come out of this challenge victorious and more robust, with more immunity to financial shocks.

Let us do our best and keep thawakkul in the God Almighty.