The B!G Idea Dashboard > Team > The Paypals Victoria /Nada Cost of Living

Our Idea

Why did your team choose to focus on this challenge?

We chose this topic because we wanted to investigate the effects of high living costs in Ireland since it is a big issue in our current economy. It is also a common issue around the world with many comparisons that can be made between countries and continents. A problem such as this may also affect future generations so coming up with ideas to solve it is crucial.

What have you learned about the challenge that you didn't know before?

We learnt that: The value of property can increase significantly over time which can often be quite financially pressurising (e.g. a house rent of €500 per month in the 80’s could be over €1,000 per month today meaning that the amount doubled). Half of Irish’s tenants spend over 30% of their income on rent while 12% spend more than half trying to keep a roof over their head. Lots of real estate may be bought by private companies and organisations leading to a shortage of housing for the general public.

Outline the specific problem you would like to solve for your Hero and two or three solutions you think would help.

The problem that we are solving for our hero, Danisa Murni, is the struggle she has with paying rent for accommodation while studying at a university in Dublin and not having enough money to travel to her home country Indonesia to see her family. Some solutions that we have come up with are: Setting a budget on how much she can spend on things such as food, clothes, subscriptions, and other services. This will allow her to track her spending and cut out any unnecessary items and save more money. Selling unused items that are in good condition to gain some extra income. This will benefit her financially as well as environmentally. Increase income by taking up part time jobs, selling items etc so that she will have enough money.

Ask your Mentor anything.

Hello . We would like to know if we have to design a product of some sort in order to tackle our challenge. If we do, how would we go about doing that for our challenge?

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