The people of Sri Lanka are severely impacted by the country's economic crisis. The study was conducted to determine how people's way of life had changed in Colombo due the crisis. Primary data collected through a Google form-based survey and observation. As per the study 94.1% of participants stated that the economic crisis has altered their way of life. Because of the economic crisis, 39.2% of respondents have reduced their food purchases. Concerning gas supply, 78.4% of respondents stated that the situation has caused them to change their cooking methods. People also reported changing their eating habits and consuming fewer veggies and meats. Furthermore, people are mentally dissatisfied with their existing status in terms of achieving their goals and dreams. This circumstance has an impact on the lives of the youth and the country's future. Similarly, there are some positive sides due to the economic crisis. People have involved in their own cultivation. This causes a natural rise in self-production. This stage would also boost domestic output, allowing the country to stand on its own. Increasing the number of local products and inventions benefits the country's prestige. This helped the nation's health, education, environment, economy, and people's livelihoods as well.