Money is like current as the name implies "Currency" It keeps moving from one hand to another, and when you spend (wisely) it gives room for another one to enter. On the other hand, when there is money and price inflation together hitting the economy of a nation, it reduces the purchasing power of the money and makes you spend more, while the last one is to spend according to your income, be able to differentiate between your needs and wants, with these you can cut unnecessary expenses and spend wisely.
Distinguishing wants and needs as you said is a good strategy in dealing with inflation, I think in dealing with a situation like this we also need to look for additional income to maintain our financial condition so that it remains stable it is better if we invest so that our financial condition remains under control and choose place that you have control over the investment. 
Topic: Economic problem, why is fiat difficult to hold. (Read 1316 times)
Even if you hold money without spending it, its value will decrease day by day because the prices of goods are constantly increasing rapidly which is devaluing the value of money. If you want to keep the value of money then you need to invest your money in a proper place. But in this case too there is risk so you can't be relaxed about anything you must constantly recharge the market. And you have to acquire the ability to always keep up with the present
Yes, from the rate at which the prices of all products are increasing day by day, we need to invest in the right place to maintain the value of our money. So that the value of our money is correct and it is better to invest thinking that there is some profit from the place where the investment is made.
Even if you hold money without spending it, its value will decrease day by day because the prices of goods are constantly increasing rapidly which is devaluing the value of money. If you want to keep the value of money then you need to invest your money in a proper place. But in this case too there is risk so you can't be relaxed about anything you must constantly recharge the market. And you have to acquire the ability to always keep up with the present
Yes, from the rate at which the prices of all products are increasing day by day, we need to invest in the right place to maintain the value of our money. So that the value of our money is correct and it is better to invest thinking that there is some profit from the place where the investment is made. 
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that a long-term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that society is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
Money is like current as the name implies "Currency" It keeps moving from one hand to another, and when you spend (wisely) it gives room for another one to enter. On the other hand, when there is money and price inflation together hitting the economy of a nation, it reduces the purchasing power of the money and makes you spend more, while the last one is to spend according to your income, be able to differentiate between your needs and wants, with these you can cut unnecessary expenses and spend wisely. 
It would be great for those who understand how to manage their expenses so that this will make it easier for them to make investments so that they can use the biggest money when they get old and can no longer do their jobs as they are now, nowadays many people can afford to work but very few can manage their spending so this will be very detrimental to themselves.
In my opinion, there are five mistakes in managing money, and they are difficult to hold, especially when stored in an ATM. Sometimes money is like time, if you don't manage it properly, it will just run out.1. Don't carry feelings.
Money is just a number that can sometimes be - or +. Do not involve feelings in managing money. Because if we are in a + position and feel happy that is dangerous and can result in us wasting money for nothing. A flat feeling really helps you in calculating finances.
2. Not planning expenses.
"Failing to plan is planning to fail"
Planning is very important. Something big had to be planned.
3. Do not separate money.
Don't lump income together. When we work and have other businesses, the income must be separated and cannot be combined.
4. Not recording expenses.
All daily expenses must be recorded. Assume that the money you have is not your money, but the company's money. So you have to record every expense that you spend. And every month the total expenses must be calculated and adjusted for the following months. And the amount of expenses must be the same.
5. Not doing an evaluation.
The purpose of the four factors above is for evaluation. We can't possibly get all of that right in the first place. Therefore we need evaluation to make everything a habit.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
Even if you hold money without spending it, its value will decrease day by day because the prices of goods are constantly increasing rapidly which is devaluing the value of money. If you want to keep the value of money then you need to invest your money in a proper place. But in this case too there is risk so you can't be relaxed about anything you must constantly recharge the market. And you have to acquire the ability to always keep up with the present 
There are two sides of this coin (topic). One is clearly inflation that kills fiat money over time so you will always need more money to spend. I can also say that world is all about making you spend your money nowadays. Everyone and everything is trying to convince you to spend your money on unnecessary things. But if you stay tough, get more responsible you can spend far less. I think we should all focus on getting value out of money we are spending.
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The reason is probably you and your habits. If you are salaried person, start saving at the beginning of the month. I will tell you what I personally do.
I receive my salary on 1st working day of every month. By 5th, all of my investments are done from my bank account. I have setup my banking account with debit mandates which automatically transfers my money into predefined investment plans and wealth management accounts. So by the end of 5th, you come to know your financial power and then start spending accordingly.
This method really helped me. You may want to try.
Wow! you seem to be the kind of "man with a plan"
I personally don't think I need to do any of that, but it definitely seems a great system for those who have difficulties managing their cash flow or want to simply have more peace of mind, financially speaking. The OP seems to be that kind of person, so I hope your post doesn't go unnoticed.
Little tip: keep using cash and avoid cards as much as you can, as a simple habit in your daily life. Better to educate yourself to reduce your spending habits rather than to give away the data of your consumer behavior to who knows who because of such a childish excuse (because you can't resist the temptation otherwise? really?).
If someone has many issues to solve, he will definitely spend it, you can't get a plan in the money because you want to solve the problem, but some people don't have a plan, they don't have anyone who will advise them to do something necessary with the money, the best thing you can do is to invest your money for long term in cryptocurrency, and you will enjoy money smoothly, because spending and not having money to replace it is just westing of value. You may start trading and make money quickly. Trading is the most straightforward technique, in which you try to buy low and sell high. However, it is crucial to understand that trading is not as simple as it appears.It necessitates substantial investigation, knowledge, and patience. There is always the possibility of incurring losses in the process.
One of the triggers for the increasing difficulty withholding fiat may indeed be the result of continuing inflation. In fact, I personally feel that inflation is actually still increasing even when the government announces that the reduction in inflation has occurred. Because what happens in the field is the price continues to gradually rise slowly and never decline again.
The amount of salary we receive remains the same but its value continues to be squeezed out by inflation. So of course the only way we can do is to work overtime or do a side job. Additional income is quite effective in balancing our needs and we become a little able to overcome the effects of inflation. But still at this time we seem to be more wasteful. Even though the needs we buy are actually still the same. It's just that currently the money we spend is indeed more than in previous years due to the increase in the price of goods that has occurred.
It seems like our money is playing a game of "hide and don't find" with us as the cost of goods keeps rising! Lol. I read about it somewhere online; was it a forum? Maybe it was a meme. In any case, inflation is a stealthy cat that eats away at our wallets even though you can't see it. You're right; it's absurd that even when they claim that inflation is declining, people immediately ask, "Where?" I continue to observe rising pricing!The amount of salary we receive remains the same but its value continues to be squeezed out by inflation. So of course the only way we can do is to work overtime or do a side job. Additional income is quite effective in balancing our needs and we become a little able to overcome the effects of inflation. But still at this time we seem to be more wasteful. Even though the needs we buy are actually still the same. It's just that currently the money we spend is indeed more than in previous years due to the increase in the price of goods that has occurred.
You indicated that our pay would remain the same, and that is truly true. It's like attempting to play the newest video game on an outdated computer; it just doesn't work well. However, side jobs are okay, right? But, OT? That sounds like an unhealthy balance of work and recreation. But in all honesty, I don't believe that working longer hours will help. Maybe, I don't know, we should all engage with digital content more? something like an online business? I've heard that's where the cool kids these days are getting their money
So in the end we can't expect prices that have gone up will come back down again.
And yes, the current side job is indeed the digital era and finding a side job through social media or other digital platforms is the best. In fact, we can start selling goods that are not selling well in our area and sell them abroad who need them. like in my area Wood charcoal is not at all high value. here per sack is very cheap. but then I realized that in other countries like Korea it turns out that charcoal is sold quite expensive in small powder packs. So we really have to take advantage of opportunities like this by relying on cross-border online shopping platforms such as Amazon and so on. well young people nowadays are making more money from online jobs.
I think everyone knows the answer but still undeniable to accept the truth. Because believe it or not, we all want to save and leave good amount in our bank account and yet, we keep on doing poor money management and still doing things that would ruin our finances. So never expect that fiat will stay in our hands for long, unless if we are also blind to see that we are spending more than we earn.
And actually nowadays with increasingly advanced sophistication it makes things more practical. Included in shopping can be via cellphone and goods come to our house. This convenience and practicality is sometimes a big obstacle for those of us who want to live frugally. Because we are even tempted to buy things that we see in online shops / online shopping applications. Holding physical fiat or holding our fiat balance in digital applications will still be the same, that is, it will not be easy to hold if we cannot hold ourselves well in spending money. This is where the importance of strict financial management and discipline. But it's not easy to start.
Overtime the situation is getting worse and not getting better with time. It is known around the world that inflation had hit hard and there is need of additional sources to meet up the daily needs and have better savings. In such situation what is happening around is the layoffs and I job cuts which will make the common man suffer much.
It all depends on the individual as well as the corporate network, because to the rising inflation there should be compensation in the salary package. When this isn't availed people look for the better opportunity to make life better with the minimum resource available. This is why it is difficult to hold fiat against cryptocurrencies.
One of the triggers for the increasing difficulty withholding fiat may indeed be the result of continuing inflation. In fact, I personally feel that inflation is actually still increasing even when the government announces that the reduction in inflation has occurred. Because what happens in the field is the price continues to gradually rise slowly and never decline again.It all depends on the individual as well as the corporate network, because to the rising inflation there should be compensation in the salary package. When this isn't availed people look for the better opportunity to make life better with the minimum resource available. This is why it is difficult to hold fiat against cryptocurrencies.
The amount of salary we receive remains the same but its value continues to be squeezed out by inflation. So of course the only way we can do is to work overtime or do a side job. Additional income is quite effective in balancing our needs and we become a little able to overcome the effects of inflation. But still at this time we seem to be more wasteful. Even though the needs we buy are actually still the same. It's just that currently the money we spend is indeed more than in previous years due to the increase in the price of goods that has occurred.
You indicated that our pay would remain the same, and that is truly true. It's like attempting to play the newest video game on an outdated computer; it just doesn't work well. However, side jobs are okay, right? But, OT? That sounds like an unhealthy balance of work and recreation. But in all honesty, I don't believe that working longer hours will help. Maybe, I don't know, we should all engage with digital content more? something like an online business? I've heard that's where the cool kids these days are getting their money
I think everyone knows the answer but still undeniable to accept the truth. Because believe it or not, we all want to save and leave good amount in our bank account and yet, we keep on doing poor money management and still doing things that would ruin our finances. So never expect that fiat will stay in our hands for long, unless if we are also blind to see that we are spending more than we earn.
And actually nowadays with increasingly advanced sophistication it makes things more practical. Included in shopping can be via cellphone and goods come to our house. This convenience and practicality is sometimes a big obstacle for those of us who want to live frugally. Because we are even tempted to buy things that we see in online shops / online shopping applications. Holding physical fiat or holding our fiat balance in digital applications will still be the same, that is, it will not be easy to hold if we cannot hold ourselves well in spending money. This is where the importance of strict financial management and discipline. But it's not easy to start. 
The problem does not begins with holding Fiat as a currency but what people were afraid of is the depreciation it gives over time in it value and how it got affected by inflation, there's nothing beneficial in holding down what will not appreciate over time but rather depreciate in its value, it took a while for people to have an understanding of this before bitcoin in cryptocurrency set in, many never know what they are loosing till they got realized now.
We all believe that money is one of the things we want that is very important to man with not believing of that there will be dangers in teams of civilisation not all people are used to banki. The money in hand is difficult to hold because expenses are greater than the capital at hand. First, most especially in my country Nigerian economy is not stable where by the common men are find it difficult to bear with in the country where the economic is stable they are all satisfied with their common needs and wants.
I think everyone knows the answer but still undeniable to accept the truth. Because believe it or not, we all want to save and leave good amount in our bank account and yet, we keep on doing poor money management and still doing things that would ruin our finances. So never expect that fiat will stay in our hands for long, unless if we are also blind to see that we are spending more than we earn.
I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
One must always fulfill the basic needs of people. I have no complaints about the expenditure that is involved everyday life. If there is money then he has to spend the money compulsorily. But there are some things that we consider luxuries. Those things which are not much needed but need to be purchased from social point of view. If you don't do that, there will be no problem. Every society has such people. Due to which you have to spend money even if you don't want. However, a person must first adopt psychological awareness. If he insists on strict rules then he must save himself from unnecessary expenditure otherwise it is impossible to reduce his expenditure. Because there is no end to human needs. Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that a long-term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the society is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
In my opinion, it's specifically a bad habit...yep, you lack money management ( no offense). I sometimes blame society for how high the cost of living is, and how I have too much of my money purchasing little goods, but have you tried simplifying your expenses? Separating your actual needs from your wants, probably making a list of expenditures according to their usefulness. Trust me the cost of living would only get to you when you're either earning less than your expenses, or you don't know how to manage money. So I'd say you focus on money management whether you have enough or you don't. It's a literal skill that pays so much.
Why is money at hand difficult to hold? I usually find it difficult to keep track of money anytime I have cash at hand, I make plans to hold money, but It never stays because something always demands the money, it is even so bad now that money kept in my account is also now being affected due to expenses. This is not something that happens to only me, I know that because of how money can easily be spent, many people now decide to avoid having cash, avoid taking ATM cards from their banks and also avoid activating USSD or internet banking, but is that really a long term solution? I blame myself a lot for spending so much and being irresponsible with money, but in your opinion, do you think that the soceity is contributing to the high and many expenses making money not to stay or is it just a bad habit I have?
No matter how much you spend, just keep praying that you don't n't stop earning. Even if you invest all the money you make, there will still be a time for you need to use this cash to deal with a problem. Some people prefer to have cash on hand rather than in a bank account because having money in a bank account can still lead to excessive spending because the internet is so quick.You can shop whenever you want while at home. You don't have to blame yourself because as we earn more money, we continue to experience more and more things. If you are spending your money on necessary things, however, I believe you have only just begun because we can never solve all of our problems at once. Instead, keep up working hard because no matter how much you try to avoid using cards or USSD, you will continue to spend money. You or society are not to blame for the issue.
Overtime the situation is getting worse and not getting better with time. It is known around the world that inflation had hit hard and there is need of additional sources to meet up the daily needs and have better savings. In such situation what is happening around is the layoffs and I job cuts which will make the common man suffer much.
It all depends on the individual as well as the corporate network, because to the rising inflation there should be compensation in the salary package. When this isn't availed people look for the better opportunity to make life better with the minimum resource available. This is why it is difficult to hold fiat against cryptocurrencies.
It has become incredibly difficult to live in my country due to the fact that wages do not keep up with the level of inflationary risks. Prices in stores rise several times a year, and salary indexation occurs at most once every few years. This is such a misfortune that sometimes you want to escape from the country and never return again, because. I don't have the strength to endure this anymore.It all depends on the individual as well as the corporate network, because to the rising inflation there should be compensation in the salary package. When this isn't availed people look for the better opportunity to make life better with the minimum resource available. This is why it is difficult to hold fiat against cryptocurrencies.
I decided to find a few more sources of income in order to somehow compensate for the level of inflation.
In addition, it becomes scary that forecasts predict only worsening of the situation many times over. Devaluation risks are also very strong, which have a detrimental effect on the general standard of living of all citizens, except for the ruling class.
I agree and see these things happening with me too. Despite having various sources of income you can feel the inflation everywhere. From the bills down to grocery, you can see just how much your income cannot keep up with them. Moreover, aside from inflation, the state of the country in terms of weather and environment is not helping as it drives you to spend your money towards safety needs.
The weather is really harsh right now, even in our country, which makes the price of food expensive, and there has been a lot of flooding lately that can apprehend the cargoes of food, and sometimes the food won't reach its destination because it is already rotten. Recently, we got hit by a typhoon, and most of the price of fish went up, which again made us more short on our budget. The only thing that I can appreciate right now is that you can plant your own crop in your backyard, but I know a lot of people can't do this because they live in a city, but this really helps us a lot, especially when there are typhoons and there are no raw foods you can buy outside but only canned goods.
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