How to save money and beat up inflation rate? Options please!

Kakmakr

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The best advice my father ever gave me was this, "People have to eat and drink and sleep" So, taking that in mind.. I spread my investment portfolio in such a way that it covers those principles. Wink

(Think Pub / Rental property / Restaurant /Bottle store etc.)

Beating inflation is very difficult, but my Bitcoin investment kicked it's ass. I was one of the risk takers back in the day when the Bitcoin price was still $300.. so I managed to buy a few bitcoins back then and when the Bitcoin price reached $18 000... I sold some for a 800%+ profit. (Now take that profit and add the interest I received on that and you will see that I would beat the inflation for many years to come)

Always remember that Bitcoin should be part of your high risk investments in your portfolio. Wink

verita1

member

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Merit: 81

I can only share my own experience to save my money, I have invested it in bitcoin and some altcoins. I am Venezuelan and as most of you know my country has been containing hyperinflation for a long time.

Bitcoin and crypto arrived at the right time and I have seen the change of working, receiving fiat and keeping it in the bank is reduced to my basic needs.

I have had to do my own search and invest in earning dividends with Nexo and staking with FRM and AWC tokens. Staking with AWC has worked, I am waiting for the Nexo dividends on August 15 and the interest earned by staking FRM token a year ago that I will receive in September.

Bitcoin has been very useful because it has allowed me to exchange it for Fiat in Cryptoway (P2P). With Nexo you can request a loan by creating an account, you deposit your Bitcoin. As the guys have advised you only you should do your search and risk what you can handle.
The best of luck!

TimeTeller

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Quote from: Lorence.xD on August 01, 2020, 01:14:45 AM

Quote from: cutesgirl on July 31, 2020, 01:22:46 PM

Saving your money with potential assets like gold, buy property, invest on bitcoin and deposit your money with USD value, if you keep your money on the bank I think have inflation every year and you will increase less your money value. Now move your money become potential assets to invest and keep on have higher value.

Having a tangible property is very good if you want to save but you also should consider investing fiat currency that lets you accumulate compound interest because inflation gets bigger everytime someone saves their fiat by making it a stagnant which is very bad for economic circulation, you also should be careful when you invest in gold because they are not immediate filler if you have a need for sustenance. If you want to save money then diversify your options, inflation can be prevented if every individual knows how to save money in a way that it still circulates theeconomy while getting a desirable interest, the insurance thing is a good choice in my opinion because you get some benefits for your contributions.

One good option is investing your money in VUL (Variable Universal Life) Insurance.
A life insurance policy with built-in savings. But that is only one good option to go to.
Investing in real estate is also a good one as normally the value of real estate goes up thru time.
But if you want immediate resolution on how to save money - you can grow your own garden, so less expenses from your monthly food budget.
Also, you can sell things/items that you think you will not use anymore. Less clutter in life, the better for your sanity.
Do some freelance online jobs. You can earn a lil bit of money from this option.

smyslov

sr. member

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Quote from: jademaxsuy on July 03, 2020, 02:08:39 AM

Do you think that bitcoin will be better in saving money and beating up the inflation rate?

In my experience it is Bitcoin is giving me 10 to 40% increase in my savings annually than on saving it in a bank although the market is very stable and volatile it has been proven that it can make profit for those who are brave to shift from savings to bank to investing in Bitcoin and other Cryptocurrency.

Lorence.xD

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Quote from: cutesgirl on July 31, 2020, 01:22:46 PM

Saving your money with potential assets like gold, buy property, invest on bitcoin and deposit your money with USD value, if you keep your money on the bank I think have inflation every year and you will increase less your money value. Now move your money become potential assets to invest and keep on have higher value.

Having a tangible property is very good if you want to save but you also should consider investing fiat currency that lets you accumulate compound interest because inflation gets bigger everytime someone saves their fiat by making it a stagnant which is very bad for economic circulation, you also should be careful when you invest in gold because they are not immediate filler if you have a need for sustenance. If you want to save money then diversify your options, inflation can be prevented if every individual knows how to save money in a way that it still circulates theeconomy while getting a desirable interest, the insurance thing is a good choice in my opinion because you get some benefits for your contributions.

cutesgirl

sr. member

Activity: 938

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Saving your money with potential assets like gold, buy property, invest on bitcoin and deposit your money with USD value, if you keep your money on the bank I think have inflation every year and you will increase less your money value. Now move your money become potential assets to invest and keep on have higher value.

tbterryboy

sr. member

Activity: 1890

Merit: 322

Quote from: ?? on ??

You are right that investing in bitcoin will save money and reduce the rate of inflation however the demand for Bitcoin is higher than gold even if the gold market does not increase the rate of inflation bitcoin investment will increase very easily and the country's economy will grow very fast. Because Bitcoin is pumping now bitcoin's price is rising from now on in that case, the dynamics of the gold market will decrease.

Actually the rate of growth for gold is way lower than the inflation rate and you cannot over the inflation rate with investing in gold and that is the reason investors are looking for more options and hence bitcoins are so popular now. Any commodity that gives higher returns as compared to the inflation rate which can be easily predicted by comparing the inflation rate for the past 3 or 5 years, so any commodity that gives higher returns is a value investment.

Although I am on the side of bitcoins for investment but if you have a little knowledge you can actually trade or even do day-trading and play with the price and make some solid profits so basically you don't just earn by investment but also earn extra as a trader.

spy100

sr. member

Activity: 658

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Quote from: mersal on July 31, 2020, 10:14:04 AM

Quote from: spy100 on July 30, 2020, 06:32:29 PM

if you can hold does assets ...to hold everything has to go according to plan ... but in life nothing goes according to plan ...some problem will show up ...like your wife/girlfriend will cheat you , someone in your family will get sick,a pandemic or a war will start .... nothing goes according to plan ...in that moment you will understand what i wrote now .

That is why you/we need to have certain amount in the savings for personal emergencies which is not meant for any other things only for our survival if it is needed and that's how rich people plan their money so called financial management is more important to learn for everyone if they want to save their money.Simply having all the money and improper investments will leads into crisis.

The poor are not like the rich ... a rich guy has 100k - 1 mil usd for emergency cases ... a poor guy has maximum 10k - 20k for emergency ... and when the bills start coming you will start saying wtf is happening ...

I know this from personal experience ...

I think i read around 100 investment books

I started with rich dad , poor dad
Intelligent Investor
Security Analysis
Richest man in babylon
the millionaire next door
almost all fabozzi books
the little book that beat the market
one up on wall street peter lynch
the essays of warren buffet ...
investments bodie...
https://www.youtube.com/watch?v=WQui_3Hpmmc&list=PL8FB14A2200B87185 --> great course from Professor Robert Shiller ... > he got Nobel prize
https://www.youtube.com/watch?v=eKHMeFC_IYk&list=PL40DFE1B0082CEC29
https://www.youtube.com/watch?v=KfDB9e_cO4k&list=PLECECA66C0CE68B1E
Anything that Aswath Damodaran wrote or said on youtube
And many others books ...

I did everything like they said ... what i learned is that nothing goes according to plan

mersal

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Activity: 1204

Merit: 38

Quote from: spy100 on July 30, 2020, 06:32:29 PM

Quote from: mersal on July 30, 2020, 02:03:34 PM

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

You can if you know how it works, first of all you need to stop saving your money on bank accounts that is the biggest mistake for someone who wants to save their money.Just buy some assets and it will bring profits for you after years of holding that is how rich people tackle the inflation rate.

if you can hold does assets ...to hold everything has to go according to plan ... but in life nothing goes according to plan ...some problem will show up ...like your wife/girlfriend will cheat you , someone in your family will get sick,a pandemic or a war will start .... nothing goes according to plan ...in that moment you will understand what i wrote now .

That is why you/we need to have certain amount in the savings for personal emergencies which is not meant for any other things only for our survival if it is needed and that's how rich people plan their money so called financial management is more important to learn for everyone if they want to save their money.Simply having all the money and improper investments will leads into crisis.

rodskee

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★Bitvest.io★ Play Plinko or Invest!

Quote from: jostorres on July 31, 2020, 04:39:40 AM

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

That is indirectly true because the rich is expected to get richer and the poor will get poorer with time. The main why this happens is because rich will give out loans to the poor and earn good interest while the poor has to utilize the money in such a way that they not just have to earn the interest they need to pay but also earn some profit for them and then also beat the inflation to survive, that is the basic reason why rich is expected to get richer with time and poor has to work immensely hard just to survive.

Beating the inflation rate also depends on the country you live in because some countries have a terrible graph and the inflation is only going to get bigger while some countries have a great GDP and the per capita income is higher.

There is technically no way of beating the inflation rate but it's effect can be minimized if you act smartly and take wise decisions like investing in high potential assets.

The idea for them having the right resources and the right guidance to
any investment that they'll
going to take is the one who brings them the favors, not directly true
but mostly the actual outcomes,
Rich becoming more richer while poor always suffered due to ignorance
and unpreparedness,.

You have to work hard to understand and be guided by knowledge in
order for you to ride with the situation
There's no need to beat inflation but likewise you need to learn how
to keep on track to ride with it.

jostorres

hero member

Activity: 2464

Merit: 585

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

That is indirectly true because the rich is expected to get richer and the poor will get poorer with time. The main why this happens is because rich will give out loans to the poor and earn good interest while the poor has to utilize the money in such a way that they not just have to earn the interest they need to pay but also earn some profit for them and then also beat the inflation to survive, that is the basic reason why rich is expected to get richer with time and poor has to work immensely hard just to survive.

Beating the inflation rate also depends on the country you live in because some countries have a terrible graph and the inflation is only going to get bigger while some countries have a great GDP and the per capita income is higher.

There is technically no way of beating the inflation rate but it's effect can be minimized if you act smartly and take wise decisions like investing in high potential assets.

teosanru

hero member

Activity: 2100

Merit: 618

I think you are playing this game the wrong way. Target with any investment is not to beat up inflation it's to create wealth over a longer term. Consider inflation is like a cost a cost which is unavoidable and all you have to focus is on greater returns that would automatically beat inflation.

Coming to the part on how to beat inflation. Inflation is like a minimum slab if you understand it.

People think of it in this way: For example if the inflation rate increases banks will automatically increase their interest rates which in turn would make you look banks are profitable but inflation is eating up your savings too.

What it actually is: Whenever there is an increase in Inflation banks increase their lending rates too. It's because banks also are profit making corporations who have to beat the lending rate. This way credit is available at a higher rate and almost all the corporations would now try to be more profitable because they have to beat the interest rate and maintain EPS too. So in short stocks are the best answer always. Go for bluechip companies which are established corporations carrying low risk.

So in short I would recommend you to go for blue-chip stocks if you are not willing to take risk and grow wealth at the same time.

slapper

legendary

Activity: 1904

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Leading Crypto Sports Betting & Casino Platform

Everything in this world involves risk. Nothing can ensure that your money will be safe even if it is contained in a most secure bank. In my country, Many banks bankrupted and many people lose all of their money. No insurance can protect them from these disasters. In my opinion, bitcoin is somehow better than other assets. You can easily maintain, control, and manipulate your bitcoin with a single button. The power is limitless. With great power comes great responsibility, no third party or authority helps you. You need to be responsible for your money. The more careful and dependent you are, the higher chance you can keep your money safe. That is why the decentralized system is trusted in many recent years.

Even though bitcoin is not as volatile as it was in the past, it can still easily beat the inflation rate without any doubt. Therefore, holding bitcoin (or ethereum cause I am favorable to this coin so much) will accumulate a huge amount of money in the future. If you are still scared of putting everything in one bucket, you can split your capital into parts so that you can reduce the risk involving

BuNga_cute

full member

Activity: 1736

Merit: 116

You can invest your money in various assets, such as Bitcoin, Gold, Stocks and Real Estate. Investing in assets will save your money from
inflation and can get big profits. Different if we save money in banks and insurance companies, our money can be used up because of inflation.
Because the amount of interest given by banks is very small. Now I choose to invest in Bitcoin, it proved my investment from 2015 to now
shows a positive thing. My wealth has increased.

Ayiranorea

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Quote from: spy100 on July 30, 2020, 06:32:29 PM

Quote from: mersal on July 30, 2020, 02:03:34 PM

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

You can if you know how it works, first of all you need to stop saving your money on bank accounts that is the biggest mistake for someone who wants to save their money.Just buy some assets and it will bring profits for you after years of holding that is how rich people tackle the inflation rate.

if you can hold does assets ...to hold everything has to go according to plan ... but in life nothing goes according to plan ...some problem will show up ...like your wife/girlfriend will cheat you , someone in your family will get sick,a pandemic or a war will start .... nothing goes according to plan ...in that moment you will understand what i wrote now .

This isn't true, we can tackle inflation as in the above post. Everytime or most of the time we can stick to the plan and move forward. Problems are part of life, it'll come and we need to be strong enough to face and overcome the situation. As said everytime we can't live with a negative mind that wife/girlfriend will cheat, family member will get sick, pandemic will start. Just think of the moment, and unexpected pandemic has been attacking. For that people are making/looking for solutions and not ending their life themselves. Positive minds will always progress in any situation.

spy100

sr. member

Activity: 658

Merit: 257

Quote from: mersal on July 30, 2020, 02:03:34 PM

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

You can if you know how it works, first of all you need to stop saving your money on bank accounts that is the biggest mistake for someone who wants to save their money.Just buy some assets and it will bring profits for you after years of holding that is how rich people tackle the inflation rate.

if you can hold does assets ...to hold everything has to go according to plan ... but in life nothing goes according to plan ...some problem will show up ...like your wife/girlfriend will cheat you , someone in your family will get sick,a pandemic or a war will start .... nothing goes according to plan ...in that moment you will understand what i wrote now .

mersal

member

Activity: 1204

Merit: 38

Quote from: spy100 on July 29, 2020, 02:56:59 PM

you can't beat inflation the game is rigged in favor of the rich !

You can if you know how it works, first of all you need to stop saving your money on bank accounts that is the biggest mistake for someone who wants to save their money.Just buy some assets and it will bring profits for you after years of holding that is how rich people tackle the inflation rate.

Janation

hero member

Activity: 1722

Merit: 528

Quote from: jademaxsuy on July 03, 2020, 02:08:39 AM

However, I am little bit worried as what others had told that putting your money to bitcoin is risky.

That sums up everything you want your money to put into.

Bitcoin is volatile, it is risky to invest in it but that risks goes the same with other investments or assets. I don't think it will be able to give you good results when inflation strikes but if you will be looking at the price chart, if you invested days ago, you will be able to get some profit you can use. I guess before it happens, you should be able to invest while you can.

DevilSlayer

sr. member

Activity: 1400

Merit: 357

Quote from: pokeronlinestatus on July 29, 2020, 12:42:48 PM

Quote from: crzy on July 26, 2020, 07:48:22 PM

Investments can beat inflation rate if you’re living on a place with a lower rate of inflation, but if there’s a hyperinflation then only the government can solve that problem. The government is working hard to keep the inflation rate lower, and make the rise slower. Saving is not enough especially on a banks, look for alternatives and learn how to invest money.

That is correct because either the inflation rate is low or your interest over your investment is higher than the inflation rate.

Inflation for someone new can be understood as the change of price for your daily needs increase with time but the value of your money remains same or increases comparatively slower.

It's a good question asked and actually the only way is you earn interest that compounds itself and becomes higher than the inflation rate or you just investment in a particular business or asset that you believe has the potential to overcome the inflation.

Inflation are keep happening not only in local currency but also the strong currency like USD and EURO. There are people who ask how to beat inflation, actually the answer is simple and it is by investing it in different financial instruments like stocks, real-estate, bonds, commodities and of course cryptocurrencies. The reason why I do not save my cash in banks or just letting it inside my wallet is because its value will continue to decrease because of the inflation. By investing it in different financial vehicles, I cam beat inflation but I have proper risks management when I do investing in order to protect my capital.

spy100

sr. member

Activity: 658

Merit: 257

you can't beat inflation the game is rigged in favor of the rich !

Topic: How to save money and beat up inflation rate? Options please! (Read 636 times)