Of course, before that happens, we have to prepare ourselves to protect our money so that it is not eroded by inflation. we switch to buying assets that tend to be more stable, which are better known, namely gold, of course hyperinflation where conditions are much worse than inflation, Before that happens, we should get used to living frugally according to our capacity and try to create new additional income. This method means we don't have to rely on just one income.
If you want a safer and less risky area to keep your money during inflation, gold, property and government bonds would be ideal. These investments have lesser risk but have lower profit. But if you want to make some profit and also hedge your funds against inflation, investing in Bitcoin will be ideal. However, the risk of investing in Bitcoin is greater than established investment platforms like gold and real estate. Apart from a steady DCA investment strategy which would require much discipline during this time, one good way to survive hyperinflation is to stock up on household groceries, toiletries and and other comfort that would make the saving or investment process easy to bear. Also is to limit gambling and indulgence in habits that consume much like smoking, drinking, daily.
Further more, buying resellable items cheaper from willing to sell individuals would also be one save up or survive hyperinflation successfully.
The option of socking house with food is a good one but it will depend on how long the inflation will last. Sometimes the price of basic products keep increasing consistently for several months or years so these household item might not sustain the house before the end of the inflation. The best option will be consistently buying goods in bulk from wholesalers instead of patronizing retailers who sell higher. Another option could also be growing your food if you have farmland. Further more, buying resellable items cheaper from willing to sell individuals would also be one save up or survive hyperinflation successfully.
