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Topic: How has inflation affected your savings and investing? - page 6. (Read 566 times)

legendary
Activity: 2058
Merit: 1270
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How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?
I think Inflation is really becoming a thing in most countries of the world, it would definitely affect people's savings as they now have to spend more on their daily needs as cost of living is sky-high, and by extension, it reduces the amount one ordinarily delimits for saving and investment. In my country for example, I fear that if the rate of inflation continues to go up, then Sooner or later, people wouldn't even have anything for saving/investing, they would only be concerned if their income would be able to sufficiently take care of their basic needs.
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?
In my opinion, it actually depends on how much the individuals source of income is, for people who earn quite well, I don't think they will have to cut down on anything and even if they will, it'll little or nothing. For people who aren't that buoyant, then they really have to make adjustments that will suit them, and this adjustments would have to favor their basic needs rather than savings or investments, cause that's what should come first.
hero member
Activity: 2912
Merit: 642
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.
hero member
Activity: 2114
Merit: 618
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?


The retail inflation has been around 5-6% this year which means your expenses won't get increased by 5-6%, I don't think it'll affect the budget of a lot of people but obviously people will reduce most of the portion from the investment or saving that they were making, I barely see anyone reducing expenditure merely due to inflation, I think one should always consider inflation whilst preparing their budget for this year as well as the next year. The main thing is to consider inflation when you are planning for your investments and calculating your ROIs too.
legendary
Activity: 1414
Merit: 1104
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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?

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