How has inflation affected your savings and investing? - page 4.

Natalim

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Quote from: Marcorey on September 26, 2021, 11:41:53 PM

Inflation does affect people's savings. Many countries in the world have experienced inflationary economic problems. When inflation occurs the legal currency will depreciate and savings will decrease. At this time, the price of goods will also rise, so you have to spend more money to buy things. Consumer spending must be increased to meet daily needs. It is possible to protect funds from inflation by investing in Bitcoin.

Yes. Investing into bitcoin might be a good option to divert inflation into deflation rather. And especially in this time of pandemic, where the people have almost lost their jobs so its hard to earn a living, and yet the prices of common commodities are much affected with this high surging inflation.

I myself has been affected with this, i guess everyone else, so i have to keep my expenses tight so i can still cater to all my necessities in life. My savings and investments finances were affected so what i did now is eliminate all the unnecessary expenses and focus on bitcoin which i think will definitely give me the huge profits when the price is at its peak. And once i start making profits, that's the time i have to diversify my investments to maximize my profits as much as possible.

lovemycar

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Quote from: Reid on September 24, 2021, 12:44:58 PM

It does hurt the budget but we also saved more because we don't really go outside when the pandemic shocked the world.
How come? Expensive kinds of stuff are always bought at malls or shopping centers.
Since we cannot get out anymore (we just don't want to) because of the terrifying illness that might be passed unto us and then with kids we tend to save more by avoiding to eat at fancy restaurants and buy things that we don't really need.

But it did hit the water and electric bills because we are now inside the house the whole day.
About food, vegetables and meat products are still okay but it is fruits that hurt my pockets. We want to be as healthy as we could to avoid being sick but it hurts to see that being healthy means you need to be almost rich.
Savings - As said above, when we break down the total amount spent pre-pandemic compared to now, we actually saved more.

This is a fallacy. If you don't have a job without going out, how can you save money if your income is reduced? If you don’t go out, you only have expenditures and no income. It’s like Vietnam and Thailand. They have to resume work because they have no food. There is one thing their buzzword: live with the virus.

peter0425

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If you are talking about Investment and saving then there are no chance that it will be totally affected of Inflation since all the funds stays intact (Of course we are talking about cryptocurrencies here right)?
not unless it is a fiat that you will need to withdraw when you felt like the value is dropping but when it comes to crypto?
the more the funds drops the more eager we wanted to invest.

Quote from: Marcorey on September 26, 2021, 11:41:53 PM

Inflation does affect people's savings. Many countries in the world have experienced inflationary economic problems. When inflation occurs the legal currency will depreciate and savings will decrease. At this time, the price of goods will also rise, so you have to spend more money to buy things. Consumer spending must be increased to meet daily needs. It is possible to protect funds from inflation by investing in Bitcoin.

if you care so much about the value , but if you input your funds in crypto ? inflation is nothing fore sure.

Sithara007

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Quote from: Ultegra134 on September 26, 2021, 10:24:18 AM

Inflation hasn't really affected me directly, I've mostly noticed it in the supermarket and in fuel. It's quite irritating, the same 6 pack of water bottles costed 1.40€ or 1.50€ a year ago, was now bought at 1.68€. Simple everyday shopping has gone up, I've got plenty of examples to present.

On terms of investing now, I'm not directly affected due to me refraining from using my own salary for investments. I prefer DeFi and not trading anymore. Personally, I use signature campaign earnings and cryptocurrency for investing.

Fuel prices are the main driver. Crude oil used to cost $40 per barrel a year ago, and now the prices have increased by almost 100% (today's prices for Brent Crude are $79 per barrel). There are several factors behind this, such as the production cuts from OPEC+, election of Biden as the president (he cancelled oil pipeline plans and banned fracking in federal lands), slowdown in the EV industry.etc. And no other commodity has an impact on retail inflation more than crude oil. When the crude oil prices go up, inflation rate also goes up (across all sectors).

Marcorey

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Inflation does affect people's savings. Many countries in the world have experienced inflationary economic problems. When inflation occurs the legal currency will depreciate and savings will decrease. At this time, the price of goods will also rise, so you have to spend more money to buy things. Consumer spending must be increased to meet daily needs. It is possible to protect funds from inflation by investing in Bitcoin.

dezoel

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Do you guys ever get worried though? I mean yes I have been doing fine for myself recently but do you ever get worried that there is a chance the prices will keep on increasing like this, and one day you will not be able to pay them anymore?

I can't keep making more and more money forever, I have been ahead of the curve so far and I have been living a decent life, worst comes to worst I would just live a bit of a worse life and try to survive only and all of that looks like at least 5 years away as long as I have my current job. However after a while, if the prices keep increasing like this, and I can't keep making more money, that literally means my death.

Sure not death right away, and sure it would take a long time to reach there, but I would gradually become poorer and poorer and eventually I won't be able to afford my house, my food, my bills and one day I won't be able to afford much and would need help from government to even stay alive. That just doesn't sound like a nightmare but it looks like it is totally possible if the inflation keeps increasing in my nation.

Ultegra134

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Inflation hasn't really affected me directly, I've mostly noticed it in the supermarket and in fuel. It's quite irritating, the same 6 pack of water bottles costed 1.40€ or 1.50€ a year ago, was now bought at 1.68€. Simple everyday shopping has gone up, I've got plenty of examples to present.

On terms of investing now, I'm not directly affected due to me refraining from using my own salary for investments. I prefer DeFi and not trading anymore. Personally, I use signature campaign earnings and cryptocurrency for investing.

Hyperechos

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It was the occurrence of inflation that brought me to this forum. My worry about inflation is not because of rising prices, but because of panic about the devaluation of my assets. For small countries, the stability of legal currency is far less than that of superpowers. My friend suggested that I choose an investment goal that can beat inflation, and I learned that Bitcoin is here. Now, I have invested a part of the investment amount in Bitcoin investment, maybe as I understand, I may invest in other cryptocurrencies.

Poker Player

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In my case, well, where I live, I have started to notice a bit of inflation, in some things more than others, but it has coincided with being promoted at work, with a considerable salary increase. So, I think that despite inflation I will be able to save and invest more.

As I and others have commented in other threads, the best way to deal with inflation is to have financial assets. I have been cultivating financial assets for some time now, and I will continue to do so.

michellee

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Quote from: sana54210 on September 25, 2021, 05:33:11 PM

Quote from: michellee on September 25, 2021, 03:02:58 AM

So far, my cost does not yet increase significantly and I can still control my monthly expenses and do not have a problem with that. But I prepare to reduce some things that I think are not too necessary to my family so I think I can save a couple of dollars that I can use as a reserve if I need urgent money.

On a monthly, I try to save at least $50 in my saving and my crypto investment so just in case, I can sell some if I need more money to cover my bills or the other expenses. It is hard to admit, but we can only prepare ourselves if the cost rises because the government adjusted some products.

It is a marvel that you managed to not have increasing costs of living. Here where I live, we had %66 increase in rent on average, thankfully I own my house so I didn't had any problems but that is just shelter, one of the most basic needs in the world. The food prices increased around 21% as well. So, I am spending a lot more than what I did just year, and if we were to look at few years ago then I am spending A LOT more than what I did few years ago.

I was making nearly 1/10th of what I am making now back in 2016 and I was still capable of living, think about it, I am making 10x more than what I made 5 years ago, and I have the same living standards. That is the type of situation I am in and this of course affected by investment in the sense that no matter what I do there is nothing that could make me save since it is very expensive.

I still need to learn to manage my money because I feel that I can reduce it for more. My cost in monthly increase but not too significant, which is why I can see that this year, the cost seems not to increase too much and tend to be stable. Since last year, I have tried to delist something that I do not really need such as buying food in the food store. I prefer to cook by myself to reduce the cost. The gas cost reduces a lot in my finances list because I do not go out too often so I can save that money for other things.

It will not be a problem if you still have the same living standards, no matter if you have money or not have much money. We need to be concerned about how we can eat every day and how we can live because that is the primary need that we need to fill. The rest will be secondary needs that we can delist that we do not really need. You can try it and I guess you will see that you actually have more money to savings.

dimonstration

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Quote from: Dread Pirate Roberts on September 25, 2021, 02:33:37 AM

Well I save in various types of assets. like stocks. deposits and properties and only use the money for personal and entertainment needs. and not interested in expensive goods. so I think inflation doesn't really affect me that much at the moment. and I think the most important thing to deal with inflation is to choose a savings instrument that keeps the value the same. may have an impact on people who do not do so .

Diversifying is indeed a must for us to stat away for big inflations, if we keep saving in bank and in fiat all our savings will lose value. It’s good that crypto exist and that there are more option now where to invest not just in stock,real estates and etc. we can see where we can be best in investing. We can’t stop inflation but we can find ways to minimize it by taking advantage on the benefits of investing that is able to mulitiply or increase our assets if were good in analyzing the market.

Viscore

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Quote from: Kakmakr on September 25, 2021, 05:15:26 PM

I have not had a pay increase in 3 years, so the inflation has gradually caused me to cut back on luxuries and entertainment expenses that I had 3 years ago.. just to keep the pot cooking. If I was living on the interest on my saving, then I would have struggled.... because the increase in inflation was much higher than the interest that I received on my saving. Angry

One thing that I decided to do, when the Bitcoin price skyrocketed..was to sell a few coins to pay all my debt... if it was not for that, I would have had to dive into my savings to survive. Sad

This is a lesson to ponder dude. Things have become worst this time not just due to high inflation alone but also for the pandemic that we are currently facing right now. So its best to stay out from any luxurious or lets say unnecessary expenses so you can put more on your savings and investments at the same time. Learn to balance it all. But just a piece of advice, never put your basic needs at stake or your last option. It will always comes first. Because if its the time your body will start to give up, then all your goals in life will definitely collapse.

sana54210

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Quote from: michellee on September 25, 2021, 03:02:58 AM

So far, my cost does not yet increase significantly and I can still control my monthly expenses and do not have a problem with that. But I prepare to reduce some things that I think are not too necessary to my family so I think I can save a couple of dollars that I can use as a reserve if I need urgent money.

On a monthly, I try to save at least $50 in my saving and my crypto investment so just in case, I can sell some if I need more money to cover my bills or the other expenses. It is hard to admit, but we can only prepare ourselves if the cost rises because the government adjusted some products.

It is a marvel that you managed to not have increasing costs of living. Here where I live, we had %66 increase in rent on average, thankfully I own my house so I didn't had any problems but that is just shelter, one of the most basic needs in the world. The food prices increased around 21% as well. So, I am spending a lot more than what I did just year, and if we were to look at few years ago then I am spending A LOT more than what I did few years ago.

I was making nearly 1/10th of what I am making now back in 2016 and I was still capable of living, think about it, I am making 10x more than what I made 5 years ago, and I have the same living standards. That is the type of situation I am in and this of course affected by investment in the sense that no matter what I do there is nothing that could make me save since it is very expensive.

Kakmakr

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I have not had a pay increase in 3 years, so the inflation has gradually caused me to cut back on luxuries and entertainment expenses that I had 3 years ago.. just to keep the pot cooking. If I was living on the interest on my saving, then I would have struggled.... because the increase in inflation was much higher than the interest that I received on my saving. Angry

One thing that I decided to do, when the Bitcoin price skyrocketed..was to sell a few coins to pay all my debt... if it was not for that, I would have had to dive into my savings to survive. Sad

verita1

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Since I live in a country with inflation, I have already learned to deal with it. I live in Venezuela and I don't have money in my bank account until I need to pay my bills, that happens every week. I deposit some money and do my expenses and repeat the cycle.

This technique made me show that I can save, invest and pay everything I need and of course believe in bitcoin and cryptocurrencies to get out of an economic crisis. In addition to having plans for the future with my investments.

irsykes

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Quote from: Rruchi man on September 24, 2021, 12:22:00 PM

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Usually in home i who cut down my expenses. Because this time, my income really affected not only by inflation but pandemic too. But i think not only me who face this and in this world there are more people who suffer too. That is why i keep grateful as long i still can save money for future, daily needs for me and my mother although not much spend in outside or do hang out or anything like that. To get entertainment i usually only play mobile or pc games.

zanezane

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I don't think that inflation has affected any of my savings or investment yet, wouldn't be worried too much about that one, pretty sure that I won't feel any of that because my investments and savings aren't in fiat.

xSkylarx

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Quote from: Sanugarid on September 25, 2021, 09:00:16 AM

Quote from: Rruchi man on September 24, 2021, 12:22:00 PM

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Due to inflation, I need to save more than I consume since the price of goods and services is gradually increasing in which the purchasing power of our money is decreasing as well. Inflation affects all aspects of our life which is why it's much better to invest your money instead of saving it and placing it in the bank. Interest rates offered by the bank are not really worth it compare to the profit it could yield when you invest which basically doubles the amount of your money.

Agree that you are spending far more money than you were previously. Almost all of the products cost twice as much. But when we talk about inflation, the first thing that comes to mind is those who are less fortunate. I am in a better position now than I was before, but I can really relate to how difficult it is now that prices are higher and it is difficult to find money. I know there are a lot of people these days who can barely eat three times a day, so I don't save much, but I do help people in need as much as I can.

King Khaizan

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The way to deal with inflation that we can do is invest. There are several capital market instruments that can be used as investment options.

One of the most popular capital market instruments as an investment option is stocks.

Stocks provide benefits that come from dividends and capital gains. Dividends are profits that the company distributes to investors that come from company profits. Meanwhile, capital gain is the profit from the difference between the purchase price and the selling price.

Sanugarid

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Quote from: Rruchi man on September 24, 2021, 12:22:00 PM

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Due to inflation, I need to save more than I consume since the price of goods and services is gradually increasing in which the purchasing power of our money is decreasing as well. Inflation affects all aspects of our life which is why it's much better to invest your money instead of saving it and placing it in the bank. Interest rates offered by the bank are not really worth it compare to the profit it could yield when you invest which basically doubles the amount of your money.

Topic: How has inflation affected your savings and investing? - page 4. (Read 566 times)