Most of us live in a home of friends, family, or with a partner – and those of us who live alone might share the odd cooking ingredient with a neighbour or spend some time with the people we care about in their homes. Having shelter, warmth and food is essential to us, but they’re not a guarantee. What exactly is our cost of living, and what do we do as consumers to keep our shopping baskets cost-effective?
But economics in the home isn’t just about costs and prices. A lot of economic activity that happens within the home, from raising children to caring for the elderly, rarely gets counted in measures of how productive or successful the economy is, despite the fact that we couldn’t sustain our economies without it.
Plus, our homes themselves are often the biggest investment we make, and have an important effect on the value of our currencies and the levels of debt in our economies. All in all, there’s a lot of economics going on in our homes.