Topic: Inflation is making a mess of my savings. - page 4. (Read 1207 times)

Sad but I have to agree.

Even if these governments are too concerned with the rising inflation for each of them, they can't even control it and how much more we as citizens. We have nothing to do to stop or delay it.

We hold our own steering wheels of our lives and whether the government is obliged or not, we only have control to ourselves and what we're doing.

we must be more enthusiastic to beat inflation so that our economy is getting better. indeed a time like this is a difficult time, especially for ordinary employees, where we have to rack our brains to survive. therefore we must be able to use finances wisely, so that the inflation that occurs does not seem to have a bad impact on us. on the other hand we must be able to increase our source of income, don't just rely on us working, where at any time there is a threat of termination of employment, given the increasingly fierce competition in the business world

You need to accept what is happening and adapt to it. If not, do you have any solution for that? Are you sure that when your country has another government, they will make your life better, and why should you rely on them? It sounds like you're trying to blame everything because you're having a bad life right now, and it's not your fault. Although inflation is still there and will never disappear, why do so many people have more stable lives than we do? Is it their fault or ours or the government's?

How many goods can you buy, and for what purpose will you buy them in order to eventually sell and thus protect your funds from inflation? In fact, this is not a very easy way, since you will need to store these goods somewhere, then you will need to take care of selling them, and this can all cause certain difficulties. Commodities must be highly liquid and it is not easy to find such commodities.

We've only seen a minor decrease in gasoline prices, which is unacceptable because crude oil has seen a major reduction in prices, while the currency exchange rate of EUR/USD has also improved. Normally, we should have seen a minor decrease in goods prices, but that never happened and probably never will. The situation has gone out of control, but the Greek population decided that it's best to elect the same prime minister and government again. I don't disagree that we need to adapt to the rapidly changing conditions, but there should be some kind of control from the governments; it has gotten so out of hand that the average household can barely survive.

When talking about inflation during the pandemic and after, my savings were a little shaken at that time. Because yes, of course the majority of us have used our savings since the economic crisis began after the pandemic. But for now everything is getting better. Because the rate of increase in prices is also no longer as aggressive and fast as before. But what makes us quite annoyed is that prices that have gone up rarely go back down. Which indicates that the value of fiat is decreasing without us realizing it.
But the situation in each country will be very different. because some countries have even experienced hyper inflation for a long time. namely from before the pandemic and even after the pandemic. The inflation they are experiencing is not even due to the Russia-Ukraine war or because of Covid. Because the inflation they experienced had indeed occurred long before the global economic crisis occurred. I don't know which country you are in but I hope you are not from the country I mean.

The most appropriate way to maintain our financial condition so that it remains stable while inflation is still occurring is to increase the amount of our income by increasing our working hours such as by looking for a side job and after that we can start getting used to living simply by saving as much as possible as we can.

Appropriate measures can be taken to manage the public monetary policies.

Inflations never been on the board from an onset. Still the governments that opposes the welfare of the masses that implemented and introduced this same bad hard times upon the masses all to feed fatter on the public funds.

Those which have an excess of cash each month can easily find ways to protect themselves and their wealth from inflation, however what happens to all the people out there which are unable to do this due to a lack of savings? Those people are in serious trouble as inflation affects them too and they have no way to protect themselves.

Now it could be argued they could buy items which are not going through such a high inflation, but this is only a temporary measure as sooner or later whatever articles they are using as substitute goods are bound to increase in price on the future too, eventually leaving them with no cheaper alternative products to purchase.

In my country, the price of gasoline has dropped to almost pre-war levels, leading to a drop in prices for many commodities. I remember correctly, not too long ago there was a topic about the lack of onions and eggs causing the prices of these two items to soar that many people could not afford to buy them. But meanwhile, onions and eggs in my country are still cheap foods that anyone can afford. Not to mention electronics in my country are cheaper than ever because demand is slowing down, and they need to lower prices to stimulate demand... and many things are changing.

You are right, we will never return to the original position but in terms of macro factors such as increasing population causing increased demand, impacts caused by nature… there are too many problems, and it is difficult to solve them all. So over time, things will get worse, and instead we should find ways to adapt rather than blame and complain.

Post-Covid really brought with it a lot of things, inflation being one of the most critical. Inflation has hit the world hard, every country is experiencing significant rising cost in basic things. The fact that there's too little money to cover for ones needs makes it sickening. In addition to this, the cost of items keep going up on daily basis with no hope of coming down.

To cushion the effects of this situation, one needs to take strategic actions. If you live in a third world country with weaker currency against the dollar, best best is to hold more of your fiat in the stronger currency. Only exchange funds to meet day-to-day expenses. As much as possible, cut down on unnecessary expenses.

Inflation can never go away, it will always be here. Best thing is to make certain lifestyle adjustments to not be blown away by it.

To protect your savings from inflation, diversify your investments Think about allocating funds into a mix of assets such as stocks, bonds, real estate, crypto & commodities. Investing in inflation-protected securities like Treasury Inflation-Protected Securities (TIPS) can be beneficial.

Try to regularly review and adjust your portfolio to ensure it aligns with your financial goals. Additionally, consider investing in international markets and currencies to spread risk. Importantly maintain an emergency fund and stay informed about economic trends and monetary policies to make informed investment decisions.

In this case I also agree more with the options you are offering because it is quite clear that gold, land and several other properties are still very good to own besides Bitcoin. Because some of the assets in your options are assets that are still very useful at this time and are still very much sought after by investors. The point is to seek profit in addition to their own future savings goals and this can also enable them to fight the effects of inflation because they also have to be able to manage their finances to be able to achieve this.

Those who are still struggling with inflation at this time must indeed be able to manage spending their funds into things they need only. So they will limit unnecessary spending of funds as long as they are still struggling to fight inflation, because that is the basic thing before making additional strategies for this. And I think that each of us should always have better efforts to use funds in life before feeling the effects of excessive inflation.

That's how inflation works in theory; in practice, I haven't seen what you're claiming. Supposedly, inflation is the average percentage movement of a specific list of goods, but in reality, I haven't seen any goods decrease in price. Everything has gone through the roof, so your statement is invalid. All goods have increased in price; I haven't seen a single item being cheaper than it used to be. It's a complicated matter; it isn't that simple to increase wages. The main issue is that after prices increase, even after the condition is settled, they'll never return to where they were. This, in my opinion, is pure speculation that goes without any monitoring.

I believe that if we are prepared like that for any we are going to be fine. Yes, it is going to be a hard one for some people but we need to learn how to do that and we should be ready for it one way or another. Not too many people can be ready for it unfortunately but that's just how it is.

People are not ready because they do not think that anything bad would happen, or better yet they think something bad could happen but they do not care about it anyway, it is just not something we think we need to be ready for. This is why when stuff like pandemic happened there weren't any people who could survive if the government didn't help and plenty of people were on welfare for a while in order to stay alive during that period.

Sorry to break it you like that, but the consumer protection laws were never in place to protect the consumers. Politicians don't care about the average citizens that are losing all their savings in the high inflation times. The whole mess we are in is done by the politicians and was only matter of time to crush us. Since  the financial crisis in 2007/8 we were living in low interest rate environment. All the big countries took advantage of the low rates and added a lot of debt in the meantime. It's so much easier to make promises to the voters with money that you don't own. Companies were doing the same, adding a lot of debt to pay higher bonuses. It was only question of time for inflation to pick up with all that additional money in the economy. All the covid relief programs giving billions to companies didn't help either. Inflation is the perfect solution for the government to get out of the debt problems. Every year the debt burden will become smaller as the value of money drops. The only solution we have now is to invest our money and try to make higher returns than the inflation rates.

Exactly, whether the war ends or the epidemic stops, as long as the free government prints money in an uncontrolled way, inflation will not stop. But we won't be able to give our opinion or don't have any way to affect their decision. Instead, we should adapt and find solutions for ourselves, don't expect the government to fix everything and save us. If we want the government to save us, we need to save ourselves first.
Don't expect or depend on anyone without taking action.

It's literally a global thing it's only differ on how people in the country handle the impact of the inflation. Here in the PH still no changes, the inflation rate keep increasing as the government couldn't do a thing to slow down or reduce the the number of inflation rate. Worse thing is that the salary of an average person still remain bare minimum til now which is an issue even years ago. Good thing that in the Nigeria you've noticed that some changes are caused by new administration but here? Nah even new positions there's no changes here. It's the worse main reason why most of the people here much prefer to work abroad or migrate.


Only if most of the people are aware and have prior knowledge to crypto for them to invest. Since more people much prefer to save their savings in banks where their money still affected by the inflation. Well there's an alternative investment not only in crypto such as golds which I also invest physical.

I guess it's a global thing. I even thought the OP was talking about the situation in Nigeria when I saw the thread, not knowing they were talking about Europe. The rate of inflation in Nigeria is double figure and it's hitting the citizens real hard. The country hasn't had it this bad until with the new administration in place. Prices of goods aren't predictable within 24hrs after knowing what prices were. They change on hourly basis so to say.

I guess it's about time people started saving their money in stable coins than in fiat, if they can't keep it in Bitcoin at a time like this.

All commodities increase in price during periods of inflation but will be uneven, chicken can rise above 4€/kg, but other foods demand less so prices will increase less. So you cannot say that the inflation figure is incorrect. Prices will depend on supply and demand, for items that are not in high demand, prices will hardly increase.
But you are right, prices will hardly change even if inflation falls, but this can be caused by traders deliberately manipulating prices and governments being too negligent in stabilizing market prices. And the salary increase needs to be considered to balance everything, if the Government rushes to increase wages, they will face many difficulties in controlling inflation.

Inflation will keep rising whether we like it or not. The problem of the world is increasing everyday making it hard for people to have what they want without the price of goods increasingly. Salary is constant and people are forced to adapt to the situation of life. We keep seeing that inflation in increasing and there is nothing we can do since the government are the one in charge making and creating laws that we all have to abide to whether we like it or not.

Things are so disturbing and food becoming very expensive. The salary we are getting from our various jobs is still what we do get now whether inflation increase or not. People are forced to suffer and adapt to life trials .