Inflation is making a mess of my savings. - page 2.

uswa56

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Quote from: inthelongrun on August 08, 2023, 06:48:55 AM

Inflation made a huge mess some years ago. I fully understand that sleeping money in the bank is not the best way to keep money. So I finally decided to move them into an asset that has the potential to beat inflation and at the same time easier to sell and cash out. And because it was not a good year to invest in crypto, I diversified it to different stocks. And then comes a huge bear run into our local stock market. Some of the stocks I purchased even dropped worse than some of the top 400 altcoins in crypto.

Precisely at times like that it is more risky to invest in the stock market, in crypto as well but the potential for recovery is enormous in the crypto market, when compared to the stock market.
When inflation occurs, indeed all aspects will be affected, but I think there are several investment options that can survive that, for example investing in real estate.

3kpk3

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Inflation hasn't really hit me hard these days despite the global economic slowdown. What truly hit me hard is the plethora of taxes that my government has increased in recent times. Trash government!

Am just hoping for a drastic change in the upcoming elections which could potentially reduce the tax burden.

inthelongrun

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Inflation made a huge mess some years ago. I fully understand that sleeping money in the bank is not the best way to keep money. So I finally decided to move them into an asset that has the potential to beat inflation and at the same time easier to sell and cash out. And because it was not a good year to invest in crypto, I diversified it to different stocks. And then comes a huge bear run into our local stock market. Some of the stocks I purchased even dropped worse than some of the top 400 altcoins in crypto.

iv4n

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Quote from: Spaceman1000$ on July 17, 2023, 02:45:12 PM

Inflation is really biting hard, and nobody is doing anything about it, should we all just go with what Tupac said, "that's just the way it is, things will never be the same"...

I also think that things will never be the same... Maybe we see some corrections here and there, but some high prices are here to stay. And probably the food is breaking all records, simply too much money is going into food.

Well, the guys who can do something about it are sitting in their chairs trying to earn even more, and I think we can say it's going great for them!

Betwrong

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Quote from: xSkylarx on August 01, 2023, 06:33:20 AM

Quote from: Betwrong on August 01, 2023, 06:19:39 AM

~

Having two jobs at a time means that you've also taken away another job that should be for others. Just imagine if you hadn't taken that other job, someone would be taking it, and again, it helps them a lot. I don't mean that it is greed as we are just surviving, but it is really better to give it to someone as they also needed it. But again, I can't blame anyone or even myself as all of us struggle and one job is not enough.

My impression of the world may be wrong, but from what I see, there's no shortage of jobs anywhere, ever. People just don't want to do dirty and low paying ones, but jobs like that are always there. I used to do them myself in the past when I couldn't find anything better. Never thought I was taking someone's job. Idk.

Quote from: xSkylarx on August 01, 2023, 06:33:20 AM

Drinking is good if you are just taking it rarely, but doing drugs is not good, so never do it. I am into drinking once a week or once a month, depending on my health and my money; it helps me relax.

Yeah, there's nothing wrong with that. Drinking a bit to relax from hard work isn't a bad thing. I was talking about drinking all day long to not see the world around you, like some people are doing during desperate times.

Porfirii

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I have a friend who has been saving all his life, living with his parents and not having literally a coffee outside in order to be able to buy a house without a mortgage. He has been doing what it is supposed for a responsible manager in order to achieve his goal, and the system has failed him: not only due to the inflation, but also to the increase of the interest rates, he is now seeing how, as time goes by, and although he is doing what he is supposed to do, his goal is further day after day. And he lives in a country where things are not as bad as in many others you may live in. It is very sad, really, but there is little one can do.

MFahad

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Quote from: Flexystar on August 02, 2023, 02:15:07 PM

We talking or we adopting it already? Man it’s already hard to live freely in the cruel economy just like this. Honestly I am not going Break the eggs here but pandemic was one nightmare that brought the life 5 years into the past while they forgot to stop the appreciations of various economic maths Vs salary drama. I mean the former kept growing while the salaries are just the way it is, rising slowly doing nothing. This has made things worst while we recover ourselves from that, then comes the war and then it grows into the worlds most wanted drama stage. We can’t even get a break from this. Missing the grand parents old days, everything was smooth after world war and before 19’s end.

The age of our grandparents was a good age and no one was worried about his future but now even a little boy think about the inflation. That time was good because inflation was not such higher and the value of currency maximum but now it deteriorated gradually.

At that time only a head of a family would be involved in earning money and fed the whole family but now every person of a family is earning but inflation does not end. Salaries are rising but one is powerless to bear the process because the value of money in not such higher that was in the past.

stomachgrowls

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Quote from: Flexystar on August 02, 2023, 02:15:07 PM

Quote from: xSkylarx on July 25, 2023, 07:06:35 AM

Quote from: Betwrong on July 25, 2023, 06:45:05 AM

Quote from: Natalim on July 19, 2023, 04:47:38 PM

Quote from: MFahad on July 19, 2023, 12:46:47 PM

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

Perhaps, it was the time that we need to look for something that we can earn money in a legal way. Our expenses are growing and it was hard if our income is still the same. We need to be smart now and work hard or else, we might fall into huge debt. We can do a side hustle to maximize our time and skills, there are a lot of opportunities around us and they are waiting for us. It is just a need for us to push ourselves, we can't be lazy this time as the situation is getting harder and harder.

Those are good words, mate. Indeed, if the purchasing power of your local currency declines, then you have to make more money. Your salary may be increased, like it happens in normal countries, or, if it's not the case in your country, you have to find an additional source of income. It's hard to work on two jobs, no doubt about that, but that's what we should do in times like this.

I just remembered before that only few people or not really known to have 2 jobs at a time but right now most of the people I've known do this or having side hustle because they knew that their salary is not enough and also if they don't do it they don't have enough money. It is really a sacrifice, but it is still for our own good and for our family, so it is better to make this sacrifice than not do anything.

We talking or we adopting it already? Man it’s already hard to live freely in the cruel economy just like this. Honestly I am not going Break the eggs here but pandemic was one nightmare that brought the life 5 years into the past while they forgot to stop the appreciations of various economic maths Vs salary drama. I mean the former kept growing while the salaries are just the way it is, rising slowly doing nothing. This has made things worst while we recover ourselves from that, then comes the war and then it grows into the worlds most wanted drama stage. We can’t even get a break from this. Missing the grand parents old days, everything was smooth after world war and before 19’s end.

Yes, and there's no stopping it on which inflation becomes worst and those necessities and primary needs value and price keeps rising and even into those services and other correlated things do have that non-stop appreciation in terms of value and the salary that we are earning is really that just the same or stable. How we could be able to live out a good life on this case or manner? Government should at least have that kind of action when it comes on balancing on things because people would definitely be suffering out but since there are things which cant really be stopped like market global prices then it would really be just making out
that kind of domino effect.

Solution? Make other source of income and trying out our best on creating or having one aside on just simply relying with your dayjob paycheck because if you wont really be making out such actions or made out such
step then for sure you would really be living a life which it would really be just that too struggle when it comes to finances due to lots of spendings and expenses on which it is really just
that normal for you to deal with.

Flexystar

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Quote from: xSkylarx on July 25, 2023, 07:06:35 AM

Quote from: Betwrong on July 25, 2023, 06:45:05 AM

Quote from: Natalim on July 19, 2023, 04:47:38 PM

Quote from: MFahad on July 19, 2023, 12:46:47 PM

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

Perhaps, it was the time that we need to look for something that we can earn money in a legal way. Our expenses are growing and it was hard if our income is still the same. We need to be smart now and work hard or else, we might fall into huge debt. We can do a side hustle to maximize our time and skills, there are a lot of opportunities around us and they are waiting for us. It is just a need for us to push ourselves, we can't be lazy this time as the situation is getting harder and harder.

Those are good words, mate. Indeed, if the purchasing power of your local currency declines, then you have to make more money. Your salary may be increased, like it happens in normal countries, or, if it's not the case in your country, you have to find an additional source of income. It's hard to work on two jobs, no doubt about that, but that's what we should do in times like this.

I just remembered before that only few people or not really known to have 2 jobs at a time but right now most of the people I've known do this or having side hustle because they knew that their salary is not enough and also if they don't do it they don't have enough money. It is really a sacrifice, but it is still for our own good and for our family, so it is better to make this sacrifice than not do anything.

We talking or we adopting it already? Man it’s already hard to live freely in the cruel economy just like this. Honestly I am not going Break the eggs here but pandemic was one nightmare that brought the life 5 years into the past while they forgot to stop the appreciations of various economic maths Vs salary drama. I mean the former kept growing while the salaries are just the way it is, rising slowly doing nothing. This has made things worst while we recover ourselves from that, then comes the war and then it grows into the worlds most wanted drama stage. We can’t even get a break from this. Missing the grand parents old days, everything was smooth after world war and before 19’s end.

MFahad

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Quote from: 19Nov16 on August 02, 2023, 07:03:18 AM

Of course inflation is a serious problem that can make millionaires lose a lot of money and poor people, and the impact that is felt is for people who are minimal income, in my country the increase in poor people has occurred significantly in the last 3 years, moreover many subsidies that are eliminated such as electricity, education and many more.

Yes inflation is high and one should develop certain strategies to cope up with inflation. One thing which hurts during inflation is comparison, I will suggest that one person should not compare his life with others because in such situation if you have more money it will seems like you don't have enough amount.

There are lots of people who have meal for just a single time per day but they seems like they are more happier than wealthy people. Education, electricity and food are the important resources so if one cannot manage these three things then surely he does not have enough money to manage these useful activities.

Try to have minimum expenditure and spend that amount which you can because you will start taking loan if you spend more money than what you have which is not a good habit. Inflation is in every country and in every city so always learn to live in every situations because circumstances can change anytime.

virasog

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Quote from: Doan9269 on July 26, 2023, 02:38:23 PM

Inflation is not wat is only being felt in some particular regions or countries, it's a global challenge we cannot do without as long as we are running under thesame economy run by government and centralized Institutions, the fiat currency we also uses does not help the situation in any way because we can't depend on a currency that depreciate in value over time due to the effect of inflation over the economy, these have served the more reasons you discover people running after the decentralized economy that cannot depreciate with the role of inflation or economy clampdown, instead, it's independent of the government controlled system of traditional fiat currency, this alone is bestowed upon the adoption of bitcoin un cryptocurrency and no other alternative.

Well, the best thing about our community is that we all know about BitcoinBTC and understand the future of BTC and also the fact that it is a hedge against inflation.

Of course, we cannot control inflation, but we can minimize the loss of our savings by converting all our savings into Bitcoin and gold. This way, we will be least affected by inflation and moreover, investment in Bitcoin means that our wealth will be increasing over time instead of decreasing.

Fuso.hp

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People are more worried about inflation these days. The war in Russia and Ukraine has caused such a bad effect on the global economy.

Russia is one of the top exporters of goods in the world, but due to the problems caused by the war in their country, the United States has imposed sanctions on them, due to which many countries are now unable to export goods from Russia, which has a negative effect on the economic market of not buying goods from Russia. Due to the war in Russia and Ukraine, the prices of various commodities, including oil, have increased, and if the war situation does not normalize in the future, such problems may increase, so people are now very worried about how they will cope with events such as inflation.

Many people are saving their money due to inflation but many people are not able to keep their savings in the bank due to the fear of bank failure. All together people are not able to take any good decision for their future at this time.

D ltr

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Inflation is happening everywhere, not just in your country. Whatever happens, just face it because it is already an economic regulation. Inflation is not fully impacted by Russia and Ukraine. There are many factors that make inflation worse.
every country has its own way of dealing with inflation, it should be, but that's not our business, we only think about our family's needs, enough to survive is better, your savings problem is out of control, just enjoy it when inflation is over, your savings will come back , remember your goal of saving before so don't complain too much

19Nov16

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Of course inflation is a serious problem that can make millionaires lose a lot of money and poor people, and the impact that is felt is for people who are minimal income, in my country the increase in poor people has occurred significantly in the last 3 years, moreover many subsidies that are eliminated such as electricity, education and many more.

AmoreJaz

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Quote from: xSkylarx on August 01, 2023, 06:33:20 AM

Quote from: Betwrong on August 01, 2023, 06:19:39 AM

Quote from: xSkylarx on July 25, 2023, 07:06:35 AM

Quote from: Betwrong on July 25, 2023, 06:45:05 AM

~

I just remembered before that only few people or not really known to have 2 jobs at a time but right now most of the people I've known do this or having side hustle because they knew that their salary is not enough and also if they don't do it they don't have enough money. It is really a sacrifice, but it is still for our own good and for our family, so it is better to make this sacrifice than not do anything.

It shouldn't be like this. Two jobs is for 2 people, not one person. But there are times when we do things like that in order to survive. It's very important to not start drinking or do drugs out of desperation. Don't think it will be like this forever. Just carry on, and everything will change for better sooner than you think.

Having two jobs at a time means that you've also taken away another job that should be for others. Just imagine if you hadn't taken that other job, someone would be taking it, and again, it helps them a lot. I don't mean that it is greed as we are just surviving, but it is really better to give it to someone as they also needed it. But again, I can't blame anyone or even myself as all of us struggle and one job is not enough.

Drinking is good if you are just taking it rarely, but doing drugs is not good, so never do it. I am into drinking once a week or once a month, depending on my health and my money; it helps me relax.

to survive in this life, you need to be practical on things. just like having 2 jobs. so it is your own choice why you are getting those jobs. now, it is up to the person if he is competing with others to get the job. bottomline, you need to take care of your own, so no hard feelings if you took the job of someone. they can always find one if they are diligent enough.

odunybiz

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Quote from: Spaceman1000$ on July 17, 2023, 02:45:12 PM

Inflation is really biting hard, and nobody is doing anything about it, should we all just go with what Tupac said, "that's just the way it is, things will never be the same".
A lot of person's have ascribed this global inflation to the crisis Rocking Ukraine and Russia, a lot of person's have also said it's as a result of shortage of gas supply across Europe and other countries.
The whole story is not just clear, as to why inflation is biting so hard and IMF AND WORLD BANK are not doing anything about it and the people are just left to face their fate alone.
The prices of goods and services are constantly going astronomical high and there is no hope insight of this ugly situation coming to a halt.

The purchasing powers of citizens are getting weak and I don't understand if the consumer protection laws are even effective anymore this days.
You buy something for a certain amount today, in the next one week, that same item you bought has charged Prince without any reason.
How are you guys pulling it through with this inflation?

Looking at the rate of inflation everywhere, one may decide to discourage savings. But ones future is also a key thing to work on. That is why I will still encourage savings.

xSkylarx

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Quote from: Betwrong on August 01, 2023, 06:19:39 AM

Quote from: xSkylarx on July 25, 2023, 07:06:35 AM

Quote from: Betwrong on July 25, 2023, 06:45:05 AM

~

I just remembered before that only few people or not really known to have 2 jobs at a time but right now most of the people I've known do this or having side hustle because they knew that their salary is not enough and also if they don't do it they don't have enough money. It is really a sacrifice, but it is still for our own good and for our family, so it is better to make this sacrifice than not do anything.

It shouldn't be like this. Two jobs is for 2 people, not one person. But there are times when we do things like that in order to survive. It's very important to not start drinking or do drugs out of desperation. Don't think it will be like this forever. Just carry on, and everything will change for better sooner than you think.

Having two jobs at a time means that you've also taken away another job that should be for others. Just imagine if you hadn't taken that other job, someone would be taking it, and again, it helps them a lot. I don't mean that it is greed as we are just surviving, but it is really better to give it to someone as they also needed it. But again, I can't blame anyone or even myself as all of us struggle and one job is not enough.

Drinking is good if you are just taking it rarely, but doing drugs is not good, so never do it. I am into drinking once a week or once a month, depending on my health and my money; it helps me relax.

Betwrong

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Quote from: xSkylarx on July 25, 2023, 07:06:35 AM

Quote from: Betwrong on July 25, 2023, 06:45:05 AM

~

I just remembered before that only few people or not really known to have 2 jobs at a time but right now most of the people I've known do this or having side hustle because they knew that their salary is not enough and also if they don't do it they don't have enough money. It is really a sacrifice, but it is still for our own good and for our family, so it is better to make this sacrifice than not do anything.

It shouldn't be like this. Two jobs is for 2 people, not one person. But there are times when we do things like that in order to survive. It's very important to not start drinking or do drugs out of desperation. Don't think it will be like this forever. Just carry on, and everything will change for better sooner than you think.

Jamala

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I think inflation is a result of poor economic policies, and a weaponized tool on poor countries who by the west and US. As such, savings lose values daily, especially cash savings. So, I won't advise people save in case rather you cab buy precious metals such as gold, silver, diamond and others in an attempt to save.

so98nn

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Just hang in there buddy as everyone is on the page as you. I have kept everything real simple by putting my some share into the fixed deposit, some in the crypto. The initial one is fixed interest rate so you don’t have to worry about what the government says and what they do about the interest rate changes in the future. Here in my country a policy states that if I’m locking on one interest then the bank is obligated to pay that at the maturity no matter what the case scenario is. Thus it is best option for me during the inflation. In fact you can literally screw the banks with this as they get long hit by the inflation. Since they never give a shit about us we should do the same when we want our money saved. On the other hand the crypto savings well they are always blessings and you never know how far they will take you. Just stick to it and relax.

Topic: Inflation is making a mess of my savings. - page 2. (Read 1260 times)