how to overcome inflation for the community - page 2.

Raflesia

hero member

Activity: 2282

Merit: 560

_""""Duelbits""""_

Quote from: awik p on June 05, 2023, 10:52:37 PM

the main thing is to deal with inflation I agree to invest, but of course invest with idle money, so we have to save money so that we have savings to invest. on the other hand, our lifestyle must also be adjusted, many people have a high lifestyle even though their income does not support it, this is the same as a time bomb, where one day it can collapse and it is difficult to get back up, because basically you already have a high lifestyle , until finally doing various ways to fulfill his lifestyle

Basically, in this case, of course, we already know how to manage money properly in this case, so that when people decide to invest, it is clear that it must be money that is not going to be used for anything in the near future.
Many people are actually a little wrong in a condition where they risk everything in an investment but they are not aware of bad financial management because in this case not a few people spend almost all the money they have in the hope that there will be a return in the near future.
The way of thinking has to change a little if we really want something good in the future. Inflation is a word that is a little scary to imagine, but the possibility of something like that can still happen, so we need to upgrade ourselves so that we can better make ourselves better and wrong. one about finances. More or less about this, as long as we have a better understanding of how money is managed, I think we will realize what we have to do to avoid inflation and the worst possibility.

@forxample

newbie

Activity: 39

Merit: 0

Quote from: bettercrypto on June 05, 2023, 12:17:58 PM

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

I wonder how saving money can help with inflation. Because even if I save money if the prime commodities increase, maybe the money I have saved will for sure be used up in a short time. Maybe, our government officials are able to manage inflation well and properly, what you say is for sure that will help somehow in my opinion.

And if we are facing inflation today, maybe somehow investment can help us and it depends on what category we choose, it can be real estate, business, Bitcoin or top cryptocurrency in the market, or Gold.

saving and investing wisely and choosing categories like gold, bitcoin, cryptocurrencies are some of the ways to deal with inflation. and it's all a long term investment.

And it's true that when there's inflation, it's possible that the prices of some key commodities will rise so that your savings may not be enough to buy supplies. then what you have to do besides looking for additional income you should also start trying to grow crops such as vegetables by using hydroponic planting methods that do not require large areas of land and livestock such as fish which can be combined with growing hydroponic vegetables and other livestock on the land that you have or around your house to meet daily life and deal with inflation. so you can save and invest more.

Pierre 2

legendary

Activity: 2422

Merit: 1358

Best way to beat inflation is always investment into companies that will benefit from inflation itself. Some companies will surely find different ways to get low rate loans to operate their business. Through inflation their costs will keep going down. Especially cost of labor is decreasing a lot because they don't get raise every month. Find such kind of businesses and directly invest in. Buy their stocks and get your share from their profits. I see no other way.

bayu7adi

hero member

Activity: 1358

Merit: 538

paper money is going away

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

That's a great suggestion, but before inflation actually takes place, it would be beneficial for you to delve into the realm of financial education. It is an essential element that can empower you to navigate the inflationary challenges in your country with wisdom. Through financial education, you will gain knowledge about budgeting, wise investments, and prudent saving techniques.

Sadly, economic literacy remains remarkably low in several countries even today. Many individuals make reckless financial decisions without due caution. This can have dire consequences and worsen the situation during monetary crises when inflation intensifies.

Arm your mind with financial knowledge if you seek to handle money wisely. I am confident that positive and purposeful outcomes can be easily achieved.

doomloop

hero member

Activity: 2268

Merit: 581

Quote from: awik p on June 05, 2023, 10:52:37 PM

the main thing is to deal with inflation I agree to invest, but of course invest with idle money, so we have to save money so that we have savings to invest. on the other hand, our lifestyle must also be adjusted, many people have a high lifestyle even though their income does not support it, this is the same as a time bomb, where one day it can collapse and it is difficult to get back up, because basically you already have a high lifestyle , until finally doing various ways to fulfill his lifestyle

It is the idle money that must be used for investments, of course, especially if someone is willing to invest in Bitcoin or cryptocurrencies because you never know in which direction the market will move next, if it moves the opposite way and goes negative, it might make the investor wait for some time because we have seen that it sometimes takes time to get out of the bear market and get into the bull run and start going up.

About the lifestyle change, you are right that one will surely need to spend less money on useless things or things that they don't really need but only spend money on them because they want to, in times of inflation, even a small amount will matter a lot if a person doesn't have a high income.

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Quote from: BRINIRHA on June 05, 2023, 10:22:48 PM

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

I think it's very difficult to deal with general inflation in society. But if it's about how we are not affected by inflation then of course there are some things we can do that relate to the assets we have.

First, never keep your savings in fiat for a long time. Because isn't it precisely because we hold fiat for a long time that makes us affected by inflation. Because the real fact and what we have experienced all this time is that the decline in value of fiat continues to occur. Maybe we think that the prices of goods have increased. In fact, it is the fiat that we hold that has decreased in value. then the way to overcome it is to divert our assets in the form of fiat into assets that are resistant to inflation.

Second, always have savings assets stored in the form of assets that can always maintain their value. for example Gold. Gold has been tested as an asset that is less affected by inflation. While fiat currency is affected annually by inflation, it turns out that gold is not affected at all. so that the price of gold seems to continue to increase, even though the fiat money itself is experiencing a decrease in value. so as if the price of gold continues to rise every year. so that Gold can be said to be a store of value that we can keep even for tens of years.

Third, get used to managing finances with careful and long-term planning. Change our mindset to be able to prepare our assets so they can grow more in the future. one of them by investing in land property. Because the price of land has never decreased and even continues to rise from year to year. even when the human population increases, the price of land will increase rapidly. In addition, this type of investment is very minimal risk. unless the land is indeed located in a place affected by natural disasters such as landslides and prolonged flooding, well when a disaster occurs the price will decrease rapidly and maybe even not sell. but if we leave it and we manage it again after the disaster is over. maia the price will be expensive again like before the disaster. So it is important to monitor and analyze the type of land before deciding to buy it. we should try to buy land that is not prone to natural disasters.

And maybe there are many other things that can be done. but in essence we must have preparation and planning for the long term. And that's why it's important to have a mindset that is always thinking for the future and not just for today. This will foster the habit of saving money and managing finances more effectively.

Gotcha, chief! You're cruising the financial freeway like a seasoned driver with your inflation tackle. The essence of your strategy is aging like a fine wine: maturing in long-term planning and financial agility. It's music to a prudent ear! Bitcoin, Ethereum, those cryptocurrencies are poised to combat inflation's shadow. Why? They have a cap on their supply, protecting them from inflation's bane: value shrinkage. But remember, it's a game of "no pain, no gain". Online wisdom echoes: Only bet the chips you're cool with losing.

Gold, your trusty ally, can strut its stuff in the digital universe too! Meet its doppelgänger - the digital Gold tokens. It's the marriage of gold's inflation-busting prowess with the flexibility of digital assets. But tread lightly and do your homework before leaping onto this digital bandwagon.

Let's not overlook your real estate ace! Why not take a step further into the realm of the virtual? Seems wacky, but we're talking about investments in virtual terra firma here. Metaverses are the new frontier, offering you a fresh, avant-garde shield against inflation.

G_Besar

hero member

Activity: 1120

Merit: 504

Quote from: Theones on June 05, 2023, 08:36:39 PM

inflation is truth and there is no denying that inflation is killing
people. The only way you can save yourself is by earning more and by saving more.

If we look at the meaning based on the expression published by Wikipedia, Inflation is a process of increasing prices in general and continuously, an increase in the price of one or two goods cannot be called inflation unless the increase is widespread (or results in a price increase). on other items. And from that understanding everyone can conclude what can be done to overcome this so as not to have a more increasing burden of difficulties in life.

Because usually when the price of basic goods starts to increase or the goods that are often needed by the community start to increase, the transport or transportation service will also make changes to larger service costs so that very often we find that the price of many basic goods increases which can also cause an increase in the cost of any services including labor wages although every worker is strongly advised to work in several other jobs in order to support more income in conditions of inflation.

bitgolden

legendary

Activity: 2842

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: bettercrypto on June 05, 2023, 12:17:58 PM

I wonder how saving money can help with inflation. Because even if I save money if the prime commodities increase, maybe the money I have saved will for sure be used up in a short time. Maybe, our government officials are able to manage inflation well and properly, what you say is for sure that will help somehow in my opinion.

And if we are facing inflation today, maybe somehow investment can help us and it depends on what category we choose, it can be real estate, business, Bitcoin or top cryptocurrency in the market, or Gold.

The mindset is that if people do not spend their money and instead save it, then "things" will lower in price and that's why it will help stop inflation. If we all spend money and if we spend even more than we used to just to get something then the price will go up, if you are willing to pay 100 bucks to get that thing, then the price is 100, but if you do not want to buy it, then they will offer it to you for 90 or they won't be selling it at all, if you still do not buy it then it will drop to 80, or worst case it will stay at 100 because it was unsold there anyway.

So, saving money as a whole community instead of spending it means that the price will go down or stay the same and I do believe that it is the main reason why interest rates go up, so we put our money into savings instead of spending them.

awik p

full member

Activity: 1526

Merit: 111

Pepemo.vip

the main thing is to deal with inflation I agree to invest, but of course invest with idle money, so we have to save money so that we have savings to invest. on the other hand, our lifestyle must also be adjusted, many people have a high lifestyle even though their income does not support it, this is the same as a time bomb, where one day it can collapse and it is difficult to get back up, because basically you already have a high lifestyle , until finally doing various ways to fulfill his lifestyle

BRINIRHA

sr. member

Activity: 728

Merit: 266

SOL.BIOKRIPT.COM

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

I think it's very difficult to deal with general inflation in society. But if it's about how we are not affected by inflation then of course there are some things we can do that relate to the assets we have.

First, never keep your savings in fiat for a long time. Because isn't it precisely because we hold fiat for a long time that makes us affected by inflation. Because the real fact and what we have experienced all this time is that the decline in value of fiat continues to occur. Maybe we think that the prices of goods have increased. In fact, it is the fiat that we hold that has decreased in value. then the way to overcome it is to divert our assets in the form of fiat into assets that are resistant to inflation.

Second, always have savings assets stored in the form of assets that can always maintain their value. for example Gold. Gold has been tested as an asset that is less affected by inflation. While fiat currency is affected annually by inflation, it turns out that gold is not affected at all. so that the price of gold seems to continue to increase, even though the fiat money itself is experiencing a decrease in value. so as if the price of gold continues to rise every year. so that Gold can be said to be a store of value that we can keep even for tens of years.

Third, get used to managing finances with careful and long-term planning. Change our mindset to be able to prepare our assets so they can grow more in the future. one of them by investing in land property. Because the price of land has never decreased and even continues to rise from year to year. even when the human population increases, the price of land will increase rapidly. In addition, this type of investment is very minimal risk. unless the land is indeed located in a place affected by natural disasters such as landslides and prolonged flooding, well when a disaster occurs the price will decrease rapidly and maybe even not sell. but if we leave it and we manage it again after the disaster is over. maia the price will be expensive again like before the disaster. So it is important to monitor and analyze the type of land before deciding to buy it. we should try to buy land that is not prone to natural disasters.

And maybe there are many other things that can be done. but in essence we must have preparation and planning for the long term. And that's why it's important to have a mindset that is always thinking for the future and not just for today. This will foster the habit of saving money and managing finances more effectively.

Theones

full member

Activity: 1204

Merit: 110

Quote from: Mame89 on June 05, 2023, 06:10:48 PM

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

This investment is one way to overcome inflation. Even though many people are afraid that investing will make them lose money and require a lot of capital, investment is a choice and a way for someone to fulfill their financial goals so that our purchasing power does not decrease.

Even so, inflation is faced calmly. for those who don't understand high-risk investment instruments, it's better to invest in a safe place like gold, at least it can minimize the decline in value due to inflation, but in my opinion, investment during inflation, the food sector can produce good products. Inflation is not inflation, people still need to eat. Don't let people who don't understand crypto suddenly buy crypto for fear of excessive inflation. It's even more fatal if you put it in a fraudulent investment, the money actually disappears. because make no mistake, when inflation is like this, many fraudsters take advantage of this moment to cheat.

The point I got from OP is don't save too much cash (except emergency funds).
Conversion to assets: Gold and bitcoin
All fiat money will be affected by inflation, whether it is dollars, rubles, riyals or yuan it is the same. They were minted without any guarantee of gold value. All will be eroded.

inflation is truth and there is no denying that inflation is killing
people. The only way you can save yourself is by earning more and by saving more.

Mame89

sr. member

Activity: 1582

Merit: 447

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

This investment is one way to overcome inflation. Even though many people are afraid that investing will make them lose money and require a lot of capital, investment is a choice and a way for someone to fulfill their financial goals so that our purchasing power does not decrease.

Even so, inflation is faced calmly. for those who don't understand high-risk investment instruments, it's better to invest in a safe place like gold, at least it can minimize the decline in value due to inflation, but in my opinion, investment during inflation, the food sector can produce good products. Inflation is not inflation, people still need to eat. Don't let people who don't understand crypto suddenly buy crypto for fear of excessive inflation. It's even more fatal if you put it in a fraudulent investment, the money actually disappears. because make no mistake, when inflation is like this, many fraudsters take advantage of this moment to cheat.

The point I got from OP is don't save too much cash (except emergency funds).
Conversion to assets: Gold and bitcoin
All fiat money will be affected by inflation, whether it is dollars, rubles, riyals or yuan it is the same. They were minted without any guarantee of gold value. All will be eroded.

Theones

full member

Activity: 1204

Merit: 110

Quote from: Unbunplease on May 31, 2023, 12:50:52 PM

Quote from: Mario Yamasaki on May 30, 2023, 08:49:33 AM

In my opinion, the best and most effective way to deal with inflation is to reduce consumption and unnecessary spending. Many people buy vegetables, fruit or meat and then store them in the refrigerator, and many vegetables or meat are thrown away because they are no longer suitable for consumption when stored in the refrigerator. The best thing is to buy vegetables or fruit and if you have a plan to cook.

In this case, you can just buy ready-made deep-frozen foods. It's quite effective. That's what I do. And they cook pretty good now. And you have to eat less

)) But otherwise, I agree with you. Just need to prohibit yourself from buying something that is likely to come in handy once or twice in your life.

lol some very good suggestions though! Lips sealed

but not always you feel like having frozen food all the time. But one should keep the food healthy

og kush420

full member

Activity: 1050

Merit: 110

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

good suggestions - I would add stop gambling and quit drinking too
try to avoid as much fuss in life as you could. This will make your life easy and comfortable

bettercrypto

sr. member

Activity: 1372

Merit: 269

★Bitvest.io★ Play Plinko or Invest!

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

I wonder how saving money can help with inflation. Because even if I save money if the prime commodities increase, maybe the money I have saved will for sure be used up in a short time. Maybe, our government officials are able to manage inflation well and properly, what you say is for sure that will help somehow in my opinion.

And if we are facing inflation today, maybe somehow investment can help us and it depends on what category we choose, it can be real estate, business, Bitcoin or top cryptocurrency in the market, or Gold.

Alpha Marine

sr. member

Activity: 574

Merit: 288

Everything you listed here cannot help you overcome inflation.
There's literally no way you can overcome inflation if you leave in a country that is plunged by inflation.
If you save money, that money will lose value buly the time you're ready to use it. You may save $250 for 6 months and at the end of the six month, that money won't be able to afford what it could afford 6 months ago if you leave in a country with high inflation rate.

Preparing for emergency and looking for additional income, doesn't take the inflation away. Yea you would have more more, but you'll still be affected by the inflation because commodities would be expensive.

In a country like mine, bother the domestic and foreign product are affected by inflation. The people providing the domestic goods and/or service live in the same country as you, so if they don't increase the price of their commodity they might end up selling at a loss because of the increased cost of production caused by inflation.

Investing still doesn't help you overcome inflation. Your investment doesn't take the inflation away. In an inflation, the price of everything goes up, even the price of investment.
Your investment would only not be affected by inflation depending on what you invest in, like Bitcoin.

CPNpr

hero member

Activity: 812

Merit: 501

It is not easy for the common man to deal with inflation in the current state of the economy. Again it is not impossible for time. Overcoming inflation is not an easy task as commodity prices are rising around the world. It may be possible for those who have a stable income these days. Use your wits and strategies to overcome inflation. It is important to think about investments and savings

Dunamisx

hero member

Activity: 854

Merit: 539

★Bitvest.io★ Play Plinko or Invest!

Quote from: umbara ardian on May 31, 2023, 02:03:46 PM

At the present time, instead of complaining about the problems and inflation that they are causing, we should focus on other things to better improve our lives. Inflation is something that no one wants to happen to their country, but when it does appear, at least accept it, so don't have a too negative view of this issue. Instead, focus and try to find some extra work to improve your salary. In addition, this is also an opportunity for you to improve your spending and time management skills when the cost of materials increases.

I think at this moment, we shouldn't limit the influence of inflation within the community alone because inflation is what is common everywhere and it's a global issue or challenge many economy faces including the rural and urban settings, everyone gets affected because there's increase in price of buying commodities in the market, but under the local community settings, we can handle this inflation through business diversification, additional means of income and increase in capacity building for our investment and personal development that could add more criterials to our values and skills developed to earn more opportunities for more income generation in what we do.

nesty

full member

Activity: 518

Merit: 184

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

One of the most effective ways to overcome inflation for the community is to encourage people do have savings and investment. When people do save and invest their money, they are less likely to spend it on goods and savings which can drive up prices. Another way to overcome inflation is to have a competition among the businesses. When businesses compete with each other they are more likely to keep prices low in order to attract customers. If people will learn more about inflation and how it will affects them it can help them to make a better financial decisions and be more prepared for the economic changes.

posi

hero member

Activity: 2240

Merit: 579

Leading Crypto Sports Betting & Casino Platform

Quote from: Youngkhngdiddy on June 04, 2023, 08:04:27 PM

Quote from: Tallupooh on January 21, 2023, 02:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

All these are important ways of handling inflation but I'll rather save in gold or stake in crypto currency rather than saving in a fiat currency controlled by the government.
You don't have to lay all your eggs in one basket so it's necessary to aquire more skills to increase the supply of income.
Spending wisely, by cutting cost on demands, making a budget and spending accordingly to the budget.

Putting money in gold and bitcoin is not called saving, but you are investing, and it can be risky, especially volatile and uncertain assets like bitcoin. But depositing money in the bank also cannot help us overcome inflation because the devaluation of the currency is greater than the interest the bank pays us. Yes, the solution of diversification is the best solution, putting eggs in many different baskets, both minimizing risks and ensuring asset value. Another solution is that we should look for more sources of income to cope with inflation, not just rely on savings and investments.

Topic: how to overcome inflation for the community - page 2. (Read 1016 times)