Topic: How to survive hyperinflation? - page 3. (Read 1532 times)

The problem with gold is that it's definitely going to be confiscated by the government, remember the time of Great Depression and the stock market was plummetting? The government confiscated all the gold that every individual owns, it's a far fetch possibility but it can definitely happen when something really bad happens to the economy of a country. In a case of hyperinflation right now, I do think that it's better to invest in bitcoin rather than gold.

Yes of course gold is a valuable asset but can never be compared to Bitcoin. I also always like bitcoin investment I never like buying gold and investing. But in some cases it is forced to buy. A few days ago I sold bitcoins and bought gold jewelry for my wife. When I bought gold jewelry for my wife, Bitcoin was worth $28,000. When I bought gold for my wife the price has increased slightly from the current price. But if I had held on to the bitcoin investment without letting my wife know about the gold jewellery, today I could have bought double gold jewelery for my wife. That's why I always like Bitcoin because Bitcoin will grow a hundred times more than the gold market.

if you just want the value of money not to fall from hyperinflation buy gold. real gold bars issued by state-owned enterprises where you live. then it can withstand inflation or the fall of your assets or wealth. because the price of gold increases always above the value of inflation.
and above gold you can buy bitcoin but must understand bitcoin price.

If your country is experiencing hyperinflation and you still have assets then it is better to leave that country to look for a better life in another country because a country experiencing hyperinflation will have difficulty maintaining security so crime will increase, job opportunities will become increasingly difficult so whatever assets you have will the value decreases and investments made when hyperinflation has occurred will be impossible to help us because everything has become difficult, but if you ask about investment then Bitcoin will be the answer because this is a forum about Bitcoin, altcoins are just full of scams, the property is only for rich people and Stocks can be an option, we just need the patience to see them grow and give us profits

Each person has very different goals for the future, so the methods used are also very different. Because as long as it can be considered as an investment for the future with any results that can make someone maintain the Bitcoin they have through whatever, it is a very worthy thing to do because it will be very good for themselves or for each of us.

Investment is a very free job and is not forced on anyone, because investment can be started from a small amount to a large amount or from a small level and then developed to become larger. So this can be done by anyone who has desires and desires based on their own thoughts without any orders from other people or other factors that influence it.

Spend according to your needs and increase your income to make money because that way we will get out of the hyperinflation problem that is occurring. The problem is that this is not as easy as it is discussed because it requires a concept to live it and if someone does not have a good lifestyle it will make the condition even more problematic.

I prefer investing in bitcoin compared to stocks or real estate because investing in bitcoin can be done with the amount we want and if our finances are not large then only investing in bitcoin is much more reliable. Saving money is unproductive because it loses value and money will not produce anything if saved.

Your approach to dealing with inflation by having two jobs, freelancing and engaging in crypto investments and signature campaigns reflects a wise strategy to deal with rising expenses. A good strategy for income through an understanding of cryptocurrencies and investments is a good move, but otherwise I think it would be very harmful to financial health. Because in some experiences I have found that cryptocurrency prices are very aggressive and unpredictable even if I learn about the movement of a price, if the liquidity is withdrawn it is useless for me to learn about it.

I hope there is availability of money, that is the only way it can be as easy as you make it look. Some people are not so fortunate in this regard, they might want to buy what they desire immediately and not procrastinate, but the money will ever be the constraint they will have to deal with. To them, they will continue to look on and also feel it painfully, but no choice but to either look away or keep their calm and hope for the best. I, nonetheless, challenge the people in this category to double up their hustle, I do not encourage scarce resources. Some people are too lazy, while others are too naive, illiterate or dull in their senses to explore the opportunities around them.

If you do not have money, you find a way to get it and not fold your arms when God created a brain for you. There are many rich people who were not born into nobility or with a silver spoon, yet they made it in life, that is why no one should have any excuse if they are still not in that financial state they want for themselves. Investment is there, extra job/business is there, and freelancing is there among others. Some people will even learn other works to give service just to earn more. No one should encourage idleness and excuses for not being able to meet their financial obligations for whatever reason if not health-related.

Your signature campaign rewards may also serve as your future investments if you are gonna hodl it long term. That is actually what I am doing right now since I don't have extra money to buy but I am happy I have few portions of Bitcoin intended for future purposes.

Having several sources of income will indeed be able to help us meet the needs we need when inflation occurs, because if we only have one source of income it will certainly be very difficult to meet the expenses we need so we have to look for loans to be able to meet the needs we need in facing inflation.
What you say is very true, at the moment it is really a loss if we only have one source of income, because if we only have one source of income it will of course be difficult if we have a lot of expenses and nowadays people can easily have several sources of income if they want do it, because they can learn skills they like and can earn income from the skills we learn.

Inflation has always existed and grown (not just in recent years) since the very beginning of the current global financial system.

Why not 3 jobs at the same time?

Maybe it’s better to concentrate on 1, but highly paid and in demand?

In our difficult times, it is reasonable to have additional third-party sources of income, where the choice of direction and method of receiving (or maintaining) income depends only on one’s own qualities and capabilities.

What you are talking about is the well-known diversification of risks and sources of income (and increase). Relying on a job alone is dangerous, because you can lose it. Having 2 jobs, the loss of the only one will no longer be so critical. The principles used in investing apply here too.

As far as I know, when hyperinflation occurs, all goods will rise drastically and quickly. So at times like that, I think investment is not the first option that should be done. But having savings and reserve funds is the first option you must have. Because how can it be that when prices rise we actually invest. In fact, this can make it even more complicated.

In the past few years, inflation seems to keep growing, especially in the year 2023, so we understand that many people can't keep up or keep up with the increase in expenses. That's why it's practical now to have 2 jobs at a time, but this is not applicable to all. That's why, for me to keep up aside from my stable job as a programmer, I decided to add free lancing jobs and, of course, investments, and one of them is doing crypto currency things such as holding assets, trading, and of course, signature campaigns. With these things, I could have more income and can sustain myself and my family's needs. In these times, you are at a disadvantage if you don't know how to make extra income. We should not rely on one job; we should either invest, build a business, or have part-time or freelance jobs, it depends on how wise and resourceful the person is.

There are less and less available jobs for white collar but more and more for blue collar because population is rising, literate who are at least bachelor are also rising, but there's nobody taking blue collar job because its depicted as dirty and also because it pays less for the hard work but I think if someone that willing to work for blue collar job are scarce I think the pays won't be that bad.
if we are talking about job, there's definitely some complex thing going on, but to survive hyper inflation, its definitely investing into something that is worthy like gold and so on then we can simply avoid hyper inflation by just doing that, after all, investing is the best way to counter inflation to be honest.

I mean the consumerist lifestyle must be eliminated. The reason is that quite a few of them adhere to a consumerist lifestyle by buying luxury goods without considering the profits obtained. they even buy expensive items worth hundreds of dollars just for self-satisfaction or just to show off. This is what I mean, the consumerist lifestyle must be eliminated in order to survive hyperinflation. because this kind of lifestyle is usually not due to the need for the function of the item but is based on excessive desire and prestige.

Continuous inflation had made many of us to keep thinking how we could invest our money and get something better in return. I could remember some of the things I bought early last year, the price of same products had increase by more than 20% and this is why we don't have to keep procrastinating always.

Anything we intend to buy now whether for business or for households, it will be advisable for us to buy now because the price might keep increasing everytime and we might not know when inflation will reduce and price of goods will also reduce too. Investing our funds is one of the ways we can make money for ourselves in a bigger picture rather using the funds to buy liabilities.

Investments take time to see results, but you can never get the same profit from an investment as from a job. If you are reluctant to invest, you can opt for a small business instead of a job. It has become difficult to find a job in the country or abroad these days. Many educated youths are roaming around in search of jobs in our country. But there is so much shortage of jobs, even after obtaining higher education, they go from door to door for jobs, but they do not get jobs. It is scandalous for the nation and the country, on the other hand if a person is planning to move abroad for a job then money is needed there too. But due to financial constraints of some people even that is not possible. Even then I think you can start a business on a small scale by raising some money without chasing a job. There you can improve by using your labor and intelligence level.  And by earning money from there you can handle any situation.

My pattern is not too far off because the right way can have a small impact on the problem of dealing with hyperinflation conditions and for me trying to live frugally and spend on something important is enough in hyperinflation conditions.
Sometimes people who are financially healthier do not have a big impact on this condition and as you said, living in luxury and spending on things of great value is their lifestyle.
To survive we have to have a way and when our finances are unstable our life will be much more difficult, so trying to live frugally is a step that needs to be taken.

Avoiding unnecessary purchases is important because when someone has money, they should think about how that money can be more productive and that is how smart people handle financial problems.

Running on a fast treadmill is stressful and apparently endless when income barely covers bills. Economics shows that inflation steals your wallet by reducing purchasing power. So, having more than one source of income is not only smart, it's necessary. Invest in reliable assets, especially little ones, to hedge inflation. Side gigs like freelance employment might boost your income. Don't just work harder -> work smarter

Personal finance requires a budget and adherence. Keep careful spending records. Every cent saved on avoidable spending might be invested in your future. It's a challenging process, but tiny, persistent steps can lead to big changes. Financial planning is about constructing a secure future for you and your family, not merely avoiding family strife

Really very challenging indeed on which i have already experienced up the bittersweet real life situations when you do have that small salary. You would really be struggling on having that day to day living specially if you do have that mouth to feed or simply having your own family on which it would really be that a damn struggle or miserable life if you wont really be that finding ways or methods on making your earnings way more higher or better.This is why as a father or husband then you would really be needing to work hard for you to be able to survive and earn more. There would be no changes if you wont act and it is really just that it is really just that right that you would be needing to be wise or else you would really be getting divorced or simply your family would leave you because you cant able to raise them well.

This is why it would really be always that best that you should really be wise on seeking for another source of income. Inflation is inevitable and it do becomes worst year by year specially if you are leaving on a
country on which it does have that worst inflation rate year by year. So it would be just that right that you should be wise on that you are doing. You wont progress
if you wont really be making out such act.