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Topic: Inflation is Poses a Great Challenge for Delayed Gratification (Read 555 times)

legendary
Activity: 2716
Merit: 1383
It is known that real estate follows inflation and as such it is a good investment, however at the same time we must remember that this is not a linear process and there are times in which real estate is overvalued and others in which it is undervalued, and at least to me real estate seems to be once again overvalued at a lot of countries around the world, and as such I still think that the best investment that someone can make these days is to put their money in bitcoin.
That's the biggest trouble plus we are talking about a big investment for most people, and even though almost all houses have owners, it is not easy to sell a house neither. It takes time, if you want to sell bitcoin then you open up your exchange and sell it, that's it, maximum of 10 minutes, I am so used to it by now that I can do it under 1 minute.

But when you want to sell a house, first you put it on the market, then a realtor contacts you, then you gave the realtor right to sell it, then they find you a buyer in god knows how long time, then you end up with something more and more and more on paperwork, and then you sell it and get the money. As you can see, this may take as much as many months before you can do that, my parents sold their house in 17 months for example, that's the issue.
I know what you mean as my parents went through the same kind of trouble when they tried to sell their house, and if it is difficult to sell a house under normal circumstances then it is easy to imagine how difficult it could be to sell a house when there is a economic crisis going on, so bitcoin is a great option not only because it is portable, impossible to detect and a store of value, but under those difficult circumstances it is likely people would love to accept bitcoin and even give you a discount when buying what you want.
legendary
Activity: 3346
Merit: 1128
It is known that real estate follows inflation and as such it is a good investment, however at the same time we must remember that this is not a linear process and there are times in which real estate is overvalued and others in which it is undervalued, and at least to me real estate seems to be once again overvalued at a lot of countries around the world, and as such I still think that the best investment that someone can make these days is to put their money in bitcoin.
That's the biggest trouble plus we are talking about a big investment for most people, and even though almost all houses have owners, it is not easy to sell a house neither. It takes time, if you want to sell bitcoin then you open up your exchange and sell it, that's it, maximum of 10 minutes, I am so used to it by now that I can do it under 1 minute.

But when you want to sell a house, first you put it on the market, then a realtor contacts you, then you gave the realtor right to sell it, then they find you a buyer in god knows how long time, then you end up with something more and more and more on paperwork, and then you sell it and get the money. As you can see, this may take as much as many months before you can do that, my parents sold their house in 17 months for example, that's the issue.
legendary
Activity: 2716
Merit: 1383
It happens in many nations, there are nations with 100% inflation and that means it is just for average, so some stuff went up just 10-20% while others went up 500%, that is the reality. So a car you may want to buy at 20k could become 50k there, it is totally possible. People need to realize that they need to be protected against the inflation and should be investing diligently because of that. If you keep having fiat investments then no matter what you do, you won't be able to protect it against inflation.

But, if you can do crypto or anything else that is valuable, then you could be able to actually make a profit that means well, and I personally do believe that it should be like that. I understand it is not going to be easy to handle that, but it is also not impossible to realize and do something about it.
Well, actually, some fiat investments are always super profitable in times of inflation, such as real estate. As inflation increases in a country, the prices of properties tend to increase as well as a part of the inflation that catches every sector. So a person who has invested their fiat into real estate will be in great profit when inflation starts increasing.

Just like real estate, the price of gold also tends to increase when there is inflation because it is a commodity, and prices of commodities increase when there is an increment in inflation within a country.
It is known that real estate follows inflation and as such it is a good investment, however at the same time we must remember that this is not a linear process and there are times in which real estate is overvalued and others in which it is undervalued, and at least to me real estate seems to be once again overvalued at a lot of countries around the world, and as such I still think that the best investment that someone can make these days is to put their money in bitcoin.
hero member
Activity: 2646
Merit: 582
Leading Crypto Sports Betting & Casino Platform
It happens in many nations, there are nations with 100% inflation and that means it is just for average, so some stuff went up just 10-20% while others went up 500%, that is the reality. So a car you may want to buy at 20k could become 50k there, it is totally possible. People need to realize that they need to be protected against the inflation and should be investing diligently because of that. If you keep having fiat investments then no matter what you do, you won't be able to protect it against inflation.

But, if you can do crypto or anything else that is valuable, then you could be able to actually make a profit that means well, and I personally do believe that it should be like that. I understand it is not going to be easy to handle that, but it is also not impossible to realize and do something about it.
Well, actually, some fiat investments are always super profitable in times of inflation, such as real estate. As inflation increases in a country, the prices of properties tend to increase as well as a part of the inflation that catches every sector. So a person who has invested their fiat into real estate will be in great profit when inflation starts increasing.

Just like real estate, the price of gold also tends to increase when there is inflation because it is a commodity, and prices of commodities increase when there is an increment in inflation within a country.
full member
Activity: 1484
Merit: 101
Inflation and complicated economic problems are now causing Argentina to go bankrupt. Previously, there was the Sri Lankan state which was bankrupt and experiencing serious and difficult economic problems to solve. It is time for strong countries like Europe and the USA to immediately help resolve inflation in Argentina before the human tragedy gets worse.
member
Activity: 737
Merit: 11
Inflation is of course a serious problem, for those who have a steady income, for example office workers or laborers, they will look for everything to survive, in my country people work 1 month only enough for a month, if they are late in receiving their salary they will be in debt, this is what makes We must always think creatively so as not to be affected when inflation occurs.
legendary
Activity: 1946
Merit: 1100
Leading Crypto Sports Betting & Casino Platform
It happens in many nations, there are nations with 100% inflation and that means it is just for average, so some stuff went up just 10-20% while others went up 500%, that is the reality. So a car you may want to buy at 20k could become 50k there, it is totally possible. People need to realize that they need to be protected against the inflation and should be investing diligently because of that. If you keep having fiat investments then no matter what you do, you won't be able to protect it against inflation.

But, if you can do crypto or anything else that is valuable, then you could be able to actually make a profit that means well, and I personally do believe that it should be like that. I understand it is not going to be easy to handle that, but it is also not impossible to realize and do something about it.
Honest to goodness: Cryptocurrency is Spider-Man to our financial Peter Parker. Bitcoin? It's like playing a game of chess with strict guidelines and no room for whimsy on the part of the government or the banking system. Putting your faith in "Decentralisation" is like committing your wealth to a devoted dragon, protecting it from the sneaky Goblin of inflation.

Keep in mind that your primary motivation shouldn't be financial gain. Your hard-earned possessions will be protected in this safe haven. Sure, getting started in crypto may be compared to breaking a ferocious stallion. It's a breathless rodeo ride once you're up on the horse, though.
sr. member
Activity: 1008
Merit: 366
Only money can bring you more money. But it is only possible when you invest it in order to grow it more. When you keep your money as a saving, over time with inflation, the value of your money will decrease (price of products will increase). Inflation will happen no matter what. So we can not prevent it. But if we use the money in a right way to make it worth more, only then we can tackle the inflation problem.
Or we could stop using something that has unlimited supply and move to something that has limited supply. This can ensure no more inflation. We are in a system and we are bound by its rules. But the system itself is corrupted. 
sr. member
Activity: 1918
Merit: 256
Just.bet - Decentralized On-chain Casino
well, it's very natural if we want to buy dream goods whether it's a necessity or for prestige, but it would be nice to invest first so that at least we have a backup if the money we have runs out and we don't have to worry about inflation. Inflation must indeed be faced like it or not, it must occur as long as paper money is still in circulation. we must be prepared with reality if we have to face it.
sr. member
Activity: 1428
Merit: 252
Many people think bad things when inflation occurs, in my opinion as long as inflation is still reasonable which is usually below 10% certainly no problem, the main focus we have to do is to continue to increase the source of income so as not to worry about the inflation that will occur.
legendary
Activity: 2716
Merit: 1383
It happens in many nations, there are nations with 100% inflation and that means it is just for average, so some stuff went up just 10-20% while others went up 500%, that is the reality. So a car you may want to buy at 20k could become 50k there, it is totally possible. People need to realize that they need to be protected against the inflation and should be investing diligently because of that. If you keep having fiat investments then no matter what you do, you won't be able to protect it against inflation.

But, if you can do crypto or anything else that is valuable, then you could be able to actually make a profit that means well, and I personally do believe that it should be like that. I understand it is not going to be easy to handle that, but it is also not impossible to realize and do something about it.
There are countries which had a weak economy to begin with before the pandemic, and when the lockdowns came and the economic activity came to a halt then those countries and their populations began to suffer, and while we may think this is never going to happen at the countries where we live, there is no guarantee that would not be the case, and with this in mind then we need to always be ready and take actions to protect our capital, even if no one around us is doing something to protect themselves from the corrosive effects of inflation.
legendary
Activity: 2688
Merit: 1192
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

Some of the effects, like the one that you described are short and fleeting, for example the second hand car market after Covid became red hot because there was such a long lead time on new cars getting delivered when lots of component manufacturers had dropped capacity. That has started to get better now but there are still long lead times on new cars, it will get better eventually. The best thing to do with your money is to try and invest it in these very same companies that are raising prices so much, because their profitability will shoot up in uncertain times. A few companies do it for genuine reasons like supply chain costs increasing, but others are taking advantage and making lots more money while their costs have not gone up much.
legendary
Activity: 3066
Merit: 1129
It happens in many nations, there are nations with 100% inflation and that means it is just for average, so some stuff went up just 10-20% while others went up 500%, that is the reality. So a car you may want to buy at 20k could become 50k there, it is totally possible. People need to realize that they need to be protected against the inflation and should be investing diligently because of that. If you keep having fiat investments then no matter what you do, you won't be able to protect it against inflation.

But, if you can do crypto or anything else that is valuable, then you could be able to actually make a profit that means well, and I personally do believe that it should be like that. I understand it is not going to be easy to handle that, but it is also not impossible to realize and do something about it.
hero member
Activity: 1680
Merit: 505
I happened to go to SMK (Vocational High School) and learned a little about inflation in Economics.

When I was at work, I saved diligently, but I kept thinking about inflation, I was tired of saving for a long time, uh, the value of money went down because of inflation and the prices of all things went up so fast. the same as in the case of you wanting to buy a dream car, if I want to buy a motorbike from my savings but not enough to buy it because prices continue to rise due to inflation.

But now I am grateful that after reading a lot through the internet and this forum, I have learned a lot about the problem of inflation and my choice to fight inflation is to save bitcoin (buy bitcoins and save for the future).

Many of my friends sneered at my choice but I still believed in my choice. Thankful that after a few months the price of the bitcoin that I kept rose from the price I bought it, even though I only held bitcoin for a few months, I was already benefiting from bitcoin. Now I'm starting to buy back bitcoins DCA I think of as saving.
You have a good example with current economic crisis which is not limited to just one country its a world crisis if you want to save your money in that than go for some sensible options invest your money in stocks or bitcoin so you should get profit and you can use your money however you want .
Saving money can't be beneficial nowadays because of continous devaluation of currency .
sr. member
Activity: 1204
Merit: 270
Hire Bitcointalk Camp. Manager @ r7promotions.com
For delayed gratification the main cause of inflation is the increase in the amount of money in the current banking system, these transactions are done with the help of loans created by banks. If this debt can be reduced, the total amount of money in circulation can be reduced and inflation can be controlled. For this purpose the central bank uses monetary policy to control the money supply to control inflation and increase savings. Also, if short-term measures are taken, the decision to take loans from multilateral institutions provides an opportunity to rethink the growth strategy through multi pronged reform programs.
legendary
Activity: 2716
Merit: 1383
Inflation is a thing that will continue to happen and be repeated, inflation certainly has a positive side because it makes money circulation faster because people have to spend more money for needs, with inflation sometimes we will think to be more creative, usually there are 2 ways we do it, namely saving and increase income, with these 2 things we can avoid economic difficulties due to inflation.
I disagree, this is just the excuse governments have created in order to hide the fact they are effectively stealing your wealth each time they print more currency without anything to back it up, they are trying to spin things in a positive light so people simply assume that this is how things are supposed to work, and this is not true, besides if governments lose control of the inflation, as it seems this is the case, this can affect people negatively as then the price of everything goes up while your salary remains the same.
sr. member
Activity: 1722
Merit: 252
Inflation is a thing that will continue to happen and be repeated, inflation certainly has a positive side because it makes money circulation faster because people have to spend more money for needs, with inflation sometimes we will think to be more creative, usually there are 2 ways we do it, namely saving and increase income, with these 2 things we can avoid economic difficulties due to inflation.
legendary
Activity: 2772
Merit: 1127
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Yes this inflation really sucks and I agreed to you, before my salary is not only enough but has some money being left but now I need to do 2 jobs for me to feed my family because living in a 3rd world plus inflation really hits so hard, the salary here doesn't increase sometimes I can't even buy small things because I need to spend it to other things so even I will save some money there's already something planned to buy with it.
Why not migrate in another country that has a better salary rate? I know lots of people living in a poorer country are doing that but some are die-hard about their place so they just accept their faith. They can still do something like what you are doing there, which is to find another job and there are still times where the government can increase the salary of the workers.

If possible, maybe you need to talk to your family about this matter, tell them that we need to budget whether in eating, or consuming electricity and water. That should help us a little and maybe that's the time that you can save and buy that thing you want. You need to reward your self sometimes.
sr. member
Activity: 434
Merit: 272
I happened to go to SMK (Vocational High School) and learned a little about inflation in Economics.

When I was at work, I saved diligently, but I kept thinking about inflation, I was tired of saving for a long time, uh, the value of money went down because of inflation and the prices of all things went up so fast. the same as in the case of you wanting to buy a dream car, if I want to buy a motorbike from my savings but not enough to buy it because prices continue to rise due to inflation.

But now I am grateful that after reading a lot through the internet and this forum, I have learned a lot about the problem of inflation and my choice to fight inflation is to save bitcoin (buy bitcoins and save for the future).

Many of my friends sneered at my choice but I still believed in my choice. Thankful that after a few months the price of the bitcoin that I kept rose from the price I bought it, even though I only held bitcoin for a few months, I was already benefiting from bitcoin. Now I'm starting to buy back bitcoins DCA I think of as saving.
member
Activity: 1232
Merit: 12
Many people complain about inflation, if we want to think then inflation is something that always happens, the best strategy is to increase income or find other sources of income so that we can fight inflation, without good income then we will get used to blaming anything.
hero member
Activity: 2170
Merit: 530
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Yes this inflation really sucks and I agreed to you, before my salary is not only enough but has some money being left but now I need to do 2 jobs for me to feed my family because living in a 3rd world plus inflation really hits so hard, the salary here doesn't increase sometimes I can't even buy small things because I need to spend it to other things so even I will save some money there's already something planned to buy with it.
legendary
Activity: 2716
Merit: 1383
So, it took you 4 years before you bought your dream car? And you didn't expect that the price would soar that high? It's a good learning point of your life, I think. Nothing stays the same. Everything will change especially if it's something that is on demand.
Cars, house and lot, food, and necessities. All of this will keep on rising while our population is also growing. It's good that you learn it as early as you can in your life because you will use that on your future decision.
When you start a family and in need of a gas stove, will you buy it now or wait for the price to go down? Decision: Buy now because those items are also increasing in value. Metals and other necessity for creating it do not grow like plants, they will soon be depleted.
That is one option, another option is to invest in a good asset which can beat inflation, like bitcoin, and then use a part of that money to buy what you want, and while this will require waiting for several years, depending where we are on the bitcoin cycle, at the same time this is a nice way to buy whatever you want as even if the price of what you want goes up your bitcoin will go up in value too, and on average it should take you less bitcoin to buy what you want in the future than if you bought it now.
hero member
Activity: 3052
Merit: 651
So, it took you 4 years before you bought your dream car? And you didn't expect that the price would soar that high? It's a good learning point of your life, I think. Nothing stays the same. Everything will change especially if it's something that is on demand.
Cars, house and lot, food, and necessities. All of this will keep on rising while our population is also growing. It's good that you learn it as early as you can in your life because you will use that on your future decision.
When you start a family and in need of a gas stove, will you buy it now or wait for the price to go down? Decision: Buy now because those items are also increasing in value. Metals and other necessity for creating it do not grow like plants, they will soon be depleted.
hero member
Activity: 1722
Merit: 895
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Is this dream balanced with the economic forces that you are facing right now and from all the stories you have told, you have saved a lot of money for the car purchase target you want. How is it possible for the price of the car to go up so fast in a short time, is there a condition where the car you want is everyone's dream car, so that the car goes up so fast because it is influenced by increasing market demand

I do not try to suggest that you put the money you have in Bitcoin, but try to count systematically that when you put money in Bitcoin by saving it as a fiat currency more profitable where. When your calculation decision goes well, that's where you will find the answer to postpone the desire to buy the car and there is a solution that you can take later.
legendary
Activity: 3752
Merit: 1864
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

Unfortunately, inflation, a process accompanying the financial model, is almost always, with rare exceptions...
Inflation is neither good nor bad, it is natural for the state financial system, where there are subsidized, unproductive, unprofitable directions.
As you understand, the state is responsible for all citizens of the country, and in fact it is FORCED to generate inflation.
Plus, the number of global crises and tragedies like Covid-19 and the terrorist war in Ukraine, and then the economic terror of the EU, launched by Russia in 2014-2022, is still huge.
All this forces governments and countries to take not very popular but forced steps that lead to the depreciation of the money supply.

But there is a solution, for those cookies there is a sufficient amount of money or a desire to save them. It's a diversified portfolio: it's local currency, it's US dollars, it's EURO, it's Swiss franc, it's gold, it's crypto,...

with this approach, inflationary losses will either be minimized, or in general you will receive additional profit within the accumulation period.
hero member
Activity: 2968
Merit: 687
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
You didn't understand the process completely especially the inflation part so basically we should not save the money in piggy bank so a year later we buy the item we wanted, it's really important to invest the saved money into something so let's say 15K for 4 years in tenure then with ROI of 8 to 10% even compounded and let the value grown near 20K.

But don't give up because you managed to save money for the 4 years to achieve the goal which is the first step of attaining financial stability I mean the Discipline. then save and invest and let the returns and compounding to do the works.
You should really be that wise when taking up such step because we know that once you do get that kind of formula and wont really be just making yourself sit still and do make out some actions then you would

really be able to make that 15k savings to be on the works and would potentially be able to make more and just been said about compounding profits then it would really be able to possibly reach out on what you do wanted since you are earning via those investments or businesses that you had made out.Somewhat its never been that simpler considering that we would really be needing to face up some risks on which it would really be just that normal because if you wont take risks then you wont gain something.

It would be always a big challenge for us because we are really that aiming for something and this is why it would really be that normal that you should need to do such step if you do tend to pursue your
dreams on buying something specially a car that of your choice or really you hoped for. Cant really be able to avoid on the effects of inflation is really that inevitable
but if you  do really know on how to play out with your funds and wise on how to make it roll, then you cant really feel that much in speaking to this.
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
You didn't understand the process completely especially the inflation part so basically we should not save the money in piggy bank so a year later we buy the item we wanted, it's really important to invest the saved money into something so let's say 15K for 4 years in tenure then with ROI of 8 to 10% even compounded and let the value grown near 20K.

But don't give up because you managed to save money for the 4 years to achieve the goal which is the first step of attaining financial stability I mean the Discipline. then save and invest and let the returns and compounding to do the works.
legendary
Activity: 3752
Merit: 1170
www.Crypto.Games: Multiple coins, multiple games
It should be exactly the opposite, if inflation exists, do not delay gratification because you need it right away. However, bitcoin has been disappointing during this period, since inflation is still going on I was assuming that bitcoin would go on getting higher a bit more.

I understand that fed interest rates made some people focus on a bit more towards savings and not bitcoin, but this is not fiat, we should have kept it going as much as we can and that should have been the move forward for bitcoin. I understand that some people wanted to get out, but we shouldn't have gone down as much as 16k, that was too much and it should have been prevented as much as possible. The fact that it is not prevented and the price dropped is a bit disappointing.
full member
Activity: 862
Merit: 100
Inflation can make it difficult to save money for future purchases and goals. As an inflation rates increase, the value of money decreases over time, making it for individuals to save. This can lead people being more likely to spend money now rather than save for the future. It is important that delayed gratification can still be beneficial in the future. To combat inflation is to invest our savings in an assets that have historically outpaced inflation such as real states or stocks. We should also be mindful and have self control for us to be prepared to delay impulsive spending.

Everyone has differences in the economy that occurs when inflation is running. there are people who endure lifestyle or expenses that are not needed at the time but there are some people who can't stand all this and spend money to relieve their stress.


I don't really feel the impact of inflation because my use of money is very minimal. I always buy necessities not for what is in style or to be resold in the future unless it's an asset to invest in like crypto and gold. yeah that makes me a little calm in dealing with inflation. It looks like I don't have a lot of money but it also keeps me from being affected by inflation.

You are one of those people who might be able to manage finances and turn off your lifestyle for the next life. This cannot be done by everyone because the principles of people are always different in the future. But if you have been through all the bad things and it will be easy for you if it happens again or something bad happens
hero member
Activity: 3066
Merit: 629
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Inflation can erode the value of money stored in traditional savings accounts as the purchasing power of that money diminishes over time. So investing your savings in assets that generate real returns can be a strategy to combat the effects of inflation and potentially increase your wealth. For example, holding assets such as foreign currency, gold, or long-term investments can help preserve assets and provide a hedge against currency devaluation.
Don't forget about investing in Bitcoin is one of the best hedges against inflation and many people do forget about it. It's already in front of them but they choose to ignore it.

As long as you understand the nature and potential benefits that go hand in hand and make smarter decisions, this is just a gentle test of this stressful life.
Can't agree more. It truly is one of the challenges that we have to deal with in this stressful life. You'll have to think of necessary things like investing and having a delayed gratification approach for your monetary decisions because with inflation, everything is going up but most of the salaries don't go up.
hero member
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Inflation can erode the value of money stored in traditional savings accounts as the purchasing power of that money diminishes over time. So investing your savings in assets that generate real returns can be a strategy to combat the effects of inflation and potentially increase your wealth. For example, holding assets such as foreign currency, gold, or long-term investments can help preserve assets and provide a hedge against currency devaluation. As long as you understand the nature and potential benefits that go hand in hand and make smarter decisions, this is just a gentle test of this stressful life.
This is why its never been recommendable on letting those fiat sit idle on your savings account for too long, unless if those amounts are really just that intended for emergency
purposes then it wont really be that much of an issue but if those are really that intended on buying on something, then its never been worth on doing so.
Wise people would really be tending to make use of these funds into something more worth or would really be able to generate up some income which it would really be just
normal that they would really be putting or taking up some risks on making investment or having business just for them to have the chance on earning more.
Not all would really be having that kind of risks appetite but i would say that if you do want to fasten up yourself on achieving financial freedom or adding more income
then you would be needing to take up the risks.
sr. member
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Inflation can erode the value of money stored in traditional savings accounts as the purchasing power of that money diminishes over time. So investing your savings in assets that generate real returns can be a strategy to combat the effects of inflation and potentially increase your wealth. For example, holding assets such as foreign currency, gold, or long-term investments can help preserve assets and provide a hedge against currency devaluation. As long as you understand the nature and potential benefits that go hand in hand and make smarter decisions, this is just a gentle test of this stressful life.
hero member
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I applaud people that know how to save and prefer paying cash rather than thru loans or credit. But a big amount of savings should not be slept at home or stored in a bank with a very low-interest rate because it is a guaranteed loss against inflation. Even before the pandemic and the war that made the world economy suffer and inflation turned worse, inflations are usually still higher than the low-interest rates that banks are offering. 

The money should be invested so it will grow against inflation. If your country's economy has recovered or if your local stock market is performing well, then you can put part of your savings there. There are financial institutions that offer better rates than banks too. Of course, we need to DYOR and make sure the company we choose to invest in is credible and has been in the business for many years already.
hero member
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This is what inflation is doing to almost every human making their lives difficult for them, removing and destroying every enjoyment and happiness from them because everyone is just struggling to cover expenses in day basis . Nothing is left with them for their pleasure , happiness ( because obviously everybody is not rich ).
full member
Activity: 862
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I don't really feel the impact of inflation because my use of money is very minimal. I always buy necessities not for what is in style or to be resold in the future unless it's an asset to invest in like crypto and gold. yeah that makes me a little calm in dealing with inflation. It looks like I don't have a lot of money but it also keeps me from being affected by inflation.

If you can manage your expenses and suppress your lifestyle it will be great for you to experience in the future. many people find it difficult to do this nowadays. they think more about what people say or follow the current trends that don't know how long this campaign will end. if you can save like that, it will be a big key that makes you one of the millionaires later. This is a big lesson for me to go to a better thing in the future.
sr. member
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I don't really feel the impact of inflation because my use of money is very minimal. I always buy necessities not for what is in style or to be resold in the future unless it's an asset to invest in like crypto and gold. yeah that makes me a little calm in dealing with inflation. It looks like I don't have a lot of money but it also keeps me from being affected by inflation.
full member
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Inflation can make it difficult to save money for future purchases and goals. As an inflation rates increase, the value of money decreases over time, making it for individuals to save. This can lead people being more likely to spend money now rather than save for the future. It is important that delayed gratification can still be beneficial in the future. To combat inflation is to invest our savings in an assets that have historically outpaced inflation such as real states or stocks. We should also be mindful and have self control for us to be prepared to delay impulsive spending.
full member
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Inflation is a common thing in a country's economy, explaining the causes of inflation is of course very complex and complicated, but the easiest thing we have to do to avoid inflation is to tighten spending, when we can make expenses according to schedule then we can avoid inflation.
sr. member
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Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Something similar happened to me a few years ago. But at that time what I wanted to buy was not a car. But I am raising money to buy a piece of land near my house. of course I had to collect money for a long time and the stupid me at that time was that I saved in fiat. And yes, a few years later I realized that the value of my savings had decreased in value even though the amount had increased a lot. Meanwhile, the price of the land is actually increasing from time to time because it is indeed a strategic location and many parties also want it. But a few years here I started implementing a more effective financial strategy. That is, I save partly in gold and partly I invest. And I also invest in my friend who has a business that is quite advanced and makes me make money with the money my friend used as capital. And a few months ago I managed to buy the land I wanted. actually my intention to buy this land was for me to make a long-term investment. Because I know from 20 years later the price of this service will definitely blow my mind. Because I researched about the price of land in my neighborhood which continues to rise rapidly. But fortunately the people around me seemed not interested in investing in land. In fact, many of them want to sell it. Because they think that the current price is enough to satisfy them. Even though I think 10 years later they will regret selling it.

So basically my method is to divide my savings into 3 parts. one in a deposit in an asset that has a fixed value such as gold. secondly invest it in several fields that can have an increase even if only a little and thirdly I invest in friends who have promising businesses. So that our money can grow to be more. And right now I'm also collecting money to buy livestock. Because there is one of my neighbors who is interested in managing a farm and he is able to look after it and share the proceeds if the cattle reproduce later.
hero member
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Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680...

The problem with cars is that they have gone up more than the average inflation rate. In your case they could have looked for an interest-bearing account or something similar so that the savings would yield a little, although they will always yield less than inflation.

It is usually recommended that if you are saving for something but for 5 years or more, put the money in an investment, for example a fund indexed to the S&P 500 because in approximately 85% of 5-year periods it has been profitable. The downside is that you have about a 15% chance of losing money. If you don't want to bet with those positive probabilities, what happens to you is what has happened to you, that you face the inevitable loss of purchasing power due to inflation, which has been exacerbated precisely in this period.

Another idea would be to put your money in Bitcoin, which although it is very volatile, with a high probability of cycle to cycle you will increase your purchasing power quite a lot.

I haven't calculated what the odds are on a positive ROI on an index fund over 5 years using historical trends but it's almost impossible to lose money over, say, ~10 years. I don't even consider it to be a bet, even though there's inherent risk associated with any investment that yields any level of interest. The inherent risk being virtually zero granted the funds mature over some period of time without needing liquidity.

The risk sure beats letting your funds decay with inflation.
A must thing to be done but we know that not all people would really be that having the confidence or having that risks taking mindset and would rather keeping their fiat into their banks and let it sit and be idle for a long period of time without even realizing that on how bad inflation would be affecting it out overtime or over the period of how many years to come.Unless if you do put it up on something which does give out some interest or really have the chance on making some profits then it would surely cover up yourself into that inflation problem which you wouldnt really be bothering yourself on the time that you do see
that you do have some other income stream or side sources.

In relation on the condition of OP, then if you are really that serious on achieving on something and tends to buy on something then you should really be needing to work hard twice or thrice so that you do
able to cope up with inflation because if you dont really do such thing then there's no way that you could be able to buy it because it would really be keeping it moving in regards into its price.
Once you do have other sources then it would really be just as easy as pie.
hero member
Activity: 1750
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It does. Been in the same boat as you once this year too! Bought my dream car from 2015 and I swallowed my heart after finding out it was almost twice as expensive now than it was back then. Of course, I was still able to buy it, but it took a lot of my savings more than I expected. This urged me to go big on investing and prioritize it over saving money. Because the logic is when you save money you’re just storing it it’s not compounding it’s not increasing in value whatever it’s just there. When you invest it however, your money essentially works for you, so there is a good chance for profit, and most of all investing it on appreciating assets like gold, silver and bitcoin means that the valuation of your money is secured with saving money that doesn’t really happen because all you’re basically doing is storing the representation of your money and not the value itself. So that’s basically the story of how I got around the inflation problem without risking letting go of delayed gratification.
legendary
Activity: 2856
Merit: 1519
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680...

The problem with cars is that they have gone up more than the average inflation rate. In your case they could have looked for an interest-bearing account or something similar so that the savings would yield a little, although they will always yield less than inflation.

It is usually recommended that if you are saving for something but for 5 years or more, put the money in an investment, for example a fund indexed to the S&P 500 because in approximately 85% of 5-year periods it has been profitable. The downside is that you have about a 15% chance of losing money. If you don't want to bet with those positive probabilities, what happens to you is what has happened to you, that you face the inevitable loss of purchasing power due to inflation, which has been exacerbated precisely in this period.

Another idea would be to put your money in Bitcoin, which although it is very volatile, with a high probability of cycle to cycle you will increase your purchasing power quite a lot.

I haven't calculated what the odds are on a positive ROI on an index fund over 5 years using historical trends but it's almost impossible to lose money over, say, ~10 years. I don't even consider it to be a bet, even though there's inherent risk associated with any investment that yields any level of interest. The inherent risk being virtually zero granted the funds mature over some period of time without needing liquidity.

The risk sure beats letting your funds decay with inflation.
legendary
Activity: 1848
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Yes, inflation destroys everything, not only dreams. There are many needs that were within our reach, but now they are difficult to obtain because of inflation.

I never save fiat because it will surely lose its value with time, so my advice to you if you want to save is to save gold or bitcoin because it maintains the value and increases its value with time, look at the price of gold a year ago and look at its price now.
sr. member
Activity: 1624
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Inflation is actually a sign of economic issues such as supply and demand that affecting the prices of the products that could be foods, clothes and etc. But for my experience, this is actually frustrating even though I am aware of it. I also experienced your scenario OP like I did everything just to save some money to afford buying a new personal computer which cost a lot in here.

Then in just few months instead of downgrading like the prices should go down since there's always a new model that much cost a lot still it increases. I've noticed that it might be a bad thing to the consumer and businessman, but if there's people that are reselling then they profit a lot like they bought in a cheap price then suddenly it increases so people would prefer to buy in the reseller since the businessman increases it's prices.
hero member
Activity: 686
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Give all before death
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
In my country you can't save for anything. Inflation and currency depreciation is making our currency worthless. When we tell people that we keep our money in Bitcoin to reduce this effect, the will always think that we are overrating bitcoin and its benefit. They will always point to bitcoin's volatility or unpredictability. But my country's currency is more volatile and it never goes up whenever it loose value. The truth remains that bitcoin is a reliable hedge against inflation. They might dispute it but that is the whole truth. My money is in bitcoin and I have not experienced any losses because I am a DCA and not a  lump-sum investor. I believe you won't have lost the value of your money if you had kept it in bitcoin.
hero member
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Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

This is rather funny to me. While reading I got smiling  Grin not because your dream is not superb but because I knew before I will finish reading your story, felt something would take all the money and yes it happened that way. And one other thing that can push down your savings for buying such a big car apart from the rise in inflation could be health issues, yes health issues. However, I have heard that monies used to buy cars or large properties may not be monies cut down from important house hold necessities. What about in the bid to starve yourself off nutritious food, you start lacking important healthy nutrients that will cause you damage to your system.

Anyway meanwhile, you didn't tell us if you have got your big car Grin

Inflation is not tackled by the way you have tried to do it. IMO I believe if you want to be better in inflation or recession, you have to increase your earning power and not to try to live the way you did by starving yourself and at the end you ended up going back to zero. So you can increase the rate or speed of easing the reward of your delayed gratification by diversification. This is the best to cultail the effect of inflation or recession. For example, if a country is going through recession they are advised to invest and this is why they go borrowing or seek for financial help from other countries. A clue is therefore taken from this that diversification is one panacea to inflation.
member
Activity: 499
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It's important to note that inflation is a natural part of any economy and is often necessary for growth and stability.

While inflation can make it more difficult to achieve savings goals, it's not necessarily a reason to abandon the practice of delayed gratification. Rather, it may be necessary to adjust goals and expectations based on economic conditions. For example, instead of saving for a specific dollar amount, one could focus on saving a percentage of their income each month, or prioritize investments that are likely to keep pace with inflation.

Ultimately, delayed gratification can still be a valuable and rewarding practice, even in the face of inflation or other economic challenges. By setting goals and working towards them over time, one can build financial stability and achieve long-term success.
legendary
Activity: 2716
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Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
You are doing things right by not becoming a mindless consumer and use all your money, and sometimes money you do not even have, to buy something you do not need, you are pursuing a very specific goal and that is great, however now you need to learn to not save in fiat, because as you have noticed this can be a massive waste of time and effort, what you need to do is to put that money in an asset in which you trust and that you know it can outpace the inflation we are going through.
legendary
Activity: 1932
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Delaying gratification do rewarding if you do it carefully. It is expected that if someone sacrifices the present for the future there is a chance the reward could be enormous. The problem is how we achieve and control our gratification. By handling money considerately does not mean just keeping the funds in your bank account untouched. The comprehension of inflation should pressure anyone to seek an investment opportunity.

Where it goes wrong is if you consider inflation yet do nothing about it, even if you delay any unnecessary spending.
sr. member
Activity: 1470
Merit: 428
So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Delaying gratification and keeping the money means you were saving, and it has always been said that money saved be it in the banks or personally like in a piggyvest is always affected by inflation. You should have reached out to the car dealers when you had like half the sum or more than half the sum for your dream car to know if they have a payment plan where you can pay twice. If you had made that kind of commitment, the new price would not have affected you because it is already a closed deal where you already know the balance you are to pay. This can work in some cases. If not you keep delaying your gratification until inflation gives you a chance.

Invest the money and get your dream car from the profit of your investment, that is how it should be done.
legendary
Activity: 2072
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OP, your brand of car is probably obsolete in four years, despite the increase in car prices. Do you still want it, or are you looking for a new one?
Nowadays, it is absolutely impossible to save up for anything of value without investment. Money lying at home "under the pillow" will certainly depreciate. That is why people use loans. Money must always "work", that is, it must be profitable. In my country, there is also a strange pattern, used cars become more expensive than new ones, that is, when buying a new car in the past, it cost less than now, being used. Demand will always create supply.
But I am sure that you have had a good experience and will be able to decide what to do with your deferred fiat in order to increase your capital in the future and fulfill your dream.
In addition, being a fan of the desire to have a car, not chatting with friends, is such an occupation, because it is friends, if they are real, who could help you with buying a car.
legendary
Activity: 3248
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Some of the things you started doing to save up money were actually good IMO. For example, recycling is certainly good, and eating home-cooked food is both cheaper and healthier than eating out all the time. Of course, treating oneself occasionally, as well as buying new things occasionally is completely normal, but I'm just saying that not all of these changes should be seen as restrictions that delay gratification because some of them have immediate benefits.
As for inflation, I agree that it must be very frustrating to save up for a long time only to need even more to cover the inflation. That's why I treat Bitcoin as a currency for savings: instead of losing value over time, it does the opposite, even if it comes with some risks and occasional bear markets.
hero member
Activity: 1778
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Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money.
Is this a real example? I don't think that a luxury goods company would significantly increase the price of a product as long as it's not a staple.
Moreover, if abnormal inflation (hyperinflation) occurs globally, the government will usually issue a solution policy immediately to maintain the welfare of the workers even though it depends on the implementation. So basically, your income will also be readjusted or increased.
legendary
Activity: 2408
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If you wanted to make money to buy a new car, why not get a job and just put your salary into Bitcoin?! I'm sure that a few successful trades would help you on your way. Just avoid leverage trading and sh#tcoins, and you'll get there in no time
I don't think that is the best possible advice to a noble who is not a pro in trading and this kind of advice can lead to losses since the member may attempt to seek that quick route that will end him in more great danger.


Buying Bitcoin is a good idea but then he must be willing to wait for a long time even longer than expected if he continues saving the way he explained in this thread., let's make a point clear when having a target savings plan that has a fixed time, Bitcoin won't be the best option as the choice of investment at that point since Bitcoin risk factor is higher in this context.

If making money with bitcoin becomes so easy, then I think our world will no longer be poor, and we won't have to work so hard to save every penny every day. We all just need to invest in bitcoin and get rich, LOL.

Bitcoin is indeed a great investment, but it should not be too divine, should not be completely dependent on it, and moreover, not every investment will yield a return. Whether the investment is profitable or not depends on each person's strategy, not on bitcoin. If OP puts money in bitcoin when bitcoin is at 60k then he will wait longer than save.
Op is also not new to this market; he has considered the best options for him, and for not using bitcoin in this case, he certainly has a reason.
legendary
Activity: 2576
Merit: 1043
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The rate of inflation differs depending on the country where you are living in, and I know how you feel because I also felt it as well.

A few years ago, I was dreaming of buying a new home for myself. I know that I was far away from that, but I already saw the price, and start saving, and investing some of it to fight inflation. Then the pandemic came, and all was affected. From price of construction materials, to daily wages of the laborers etc. etc. The price of the dream home that I saw a few years ago went up by I guess at least 20%-30%.

You can fight inflation by investing that money into different assets that can give you interest higher than the inflation rate base on your country. It's just that, the rate of inflation for the past 2-3 years has been high that all of us who are earning bare minimum wages are greatly affected. I also want to question you. Why didn't you invest the amount of money that you saved instead of just saving it? You know that the inflation rate will be that high right? I'm not saying that you must've invested it into Bitcoin, but at least try to invest it into different assets instead of you saving it knowing that inflation is that high.

Your heart sunk, and I know the feeling. However, you must've been aware of what's happening with the economy like the inflation rate. There's nothing wrong with saving money because I'm saving a bit of my monthly salary as well. It's just that the inflation rate is very high at this moment that saving most of your money is the worst thing that you can do.
hero member
Activity: 3192
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Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

1.You should've invested your money rather than just saving them. Investing preserves the value of your capital and protects it from inflation.
I'm not going to give you investment advise here. You should do you own research.
2.Buying an expensive car(when you don't have high enough income to maintain such car) is a bad decision if you ask me. Expensive cars lose their value pretty quickly and the cost of maintenance becomes very high(especially when the car breaks).
3.Why don't buy a cheaper car, which you could afford? Or maybe you should try to grow your income, in order to afford a 23K USD car.
member
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If you wanted to make money to buy a new car, why not get a job and just put your salary into bitcoin?! I'm sure that a few successful trades would help you on your way. Just avoid leverage trading and sh#tcoins, and you'll get there in no time

It's a smart idea, but it's important to remember that investing in cryptocurrencies can be risky and volatile. if relying solely on cryptocurrencies for your financial goals may not be the most practical approach. I think saving money and getting an extra job is a more reliable and secure way to reach your financial goals and of course, avoiding "shitcoins" is always a good idea!

Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

An example of an increasing case as you describe but in my opinion it is natural and of course Inflation is certainly a challenge for delayed gratification, because it can erode the value of the money you have saved over time.

However, it is important to recognize that inflation is a normal part of a healthy economy, and can usually be managed through a variety of financial tools and strategies. For example, investing in assets whose value tends to increase over time Buying land, rice fields or buying gold can help you offset inflation and maintain the purchasing power of your savings.
legendary
Activity: 1596
Merit: 1288
Sad to hear your story with Savings, I hope you make your dream come true and that one day you drive that car.

Inflation is a simple definition of many problems, some of which you may be able to solve with some smart investments, and others you cannot. One of the factors of inflation is the financial mismanagement of your currency, which means that the currency exchange rate is constantly declining, then converting to dollars or Swiss francs will solve the problem, and keeping gold or long-term investment is an ideal solution.

Sometimes inflation is due to the smooth supply, as happened in the year 2020, and then trying to postpone the purchase will lead to a lot of fees being reduced. Taxes and customs exemptions are another reason for inflation.

Try to figure out why the price of the car changed from $15,450 to $23,680 and you might be able to find a way to make things happy on your side.
legendary
Activity: 3808
Merit: 1723
It’s not only cars, look at real estate. Basically a lot of items are out of reach due to inflation. Cars and real estate is worse due to supply issues.

It’s not only sporty cars like your dream car. You want a minivan to haul your kids around? Well there are very little in stock. Those in stock are like $40K and if you want a used one you will pay the same price as it cost new about 4-5 years ago. These supply issues are causing alot of headaches for families.
legendary
Activity: 1372
Merit: 2017
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680...

The problem with cars is that they have gone up more than the average inflation rate. In your case they could have looked for an interest-bearing account or something similar so that the savings would yield a little, although they will always yield less than inflation.

It is usually recommended that if you are saving for something but for 5 years or more, put the money in an investment, for example a fund indexed to the S&P 500 because in approximately 85% of 5-year periods it has been profitable. The downside is that you have about a 15% chance of losing money. If you don't want to bet with those positive probabilities, what happens to you is what has happened to you, that you face the inevitable loss of purchasing power due to inflation, which has been exacerbated precisely in this period.

Another idea would be to put your money in Bitcoin, which although it is very volatile, with a high probability of cycle to cycle you will increase your purchasing power quite a lot.
hero member
Activity: 1400
Merit: 623
That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?

Regardless of inflation, delaying your gratification just to purchase a depreciating asset which is a car is not worth it all because its value decreases the moment you purchased and use it. It can’t compensate for the time you missed out with your friends and the happy life that you can have just to purchase this car.

I dream having a car but if took you a long time just to purchase then it means that this kind of luxury doesn't suits you because you can’t afford it without sacrificing most of your precious time just to save. What will happened if the car got damages and need repairs? It will cost a lot and give you a hard time on saving once again just for repairs. Is it worth it to save for a long time just to purchase a depreciating asset??
hero member
Activity: 2814
Merit: 553


Had you known that inflation would wreak havoc to the purchasing value of your money, you would have taken a loan years ago and bought your dream car. At least you will be paying now with an amount with lesser value.

Good advice. This is where loans sets a good example rather than saving fiat (in a bank) for several years to get a car or house that we don't know how much the inflation rate would rise in the next year or two.
Another option would be to invest to an asset with low risk involved but could protect your money from inflations. I say gold or real estate, but I'm leaning towards the real estate. I can also say Bitcoin for long term perspective.
Saving fiat for me is like giving away free money to the bank because the inflation will kill the purchasing power of your money and the bank used your money to lend it to someone and of course earned an interest with it.
legendary
Activity: 2576
Merit: 1860
This is absolutely true. And that's why saving in fiat could be very bad to you. Had you saved in Bitcoin, you would have already bought your dream car, possibly even two of them and the top of the line.

Anyway, I wonder, has your dream car not cheapen a little considering that there could already be new models on the market?

Had you known that inflation would wreak havoc to the purchasing value of your money, you would have taken a loan years ago and bought your dream car. At least you will be paying now with an amount with lesser value.
STT
legendary
Activity: 4102
Merit: 1454
Saving money is a depreciating asset worth so what happened is the value of the money saved declined vs a fixed cost (commodities even plain metal will retain its value in general though erratically, a working asset etc. is superior to plain cash imo).     What could work is you decide to buy the 2020 year model of that car and buy it second hand, the devaluation of car value after being used is greater then even cash inflation loss of value so you would get what you want, but if you want new every time without compromise it doesnt especially work for you.  
   Your premise is somewhat correct, inflation ruins order flow in the end because prices are uncertain and eventually all business is impeded by the volatility.     A car program I've seen which is also relevant where they try to trade up cars by fixing minor problems on each model and selling it on, eventually they get to trade upto the wanted model.  Its quite funny thats possible but I've heard of it being done realistically if not easily.
legendary
Activity: 3038
Merit: 2162
Normally inflation is only a few percents per year, so over 4 years it wouldn't be so dramatic. The current inflation is the result of covid and the war. People may say in hindisght that gold or Bitcoin are a better store of value, but gold and Bitcoin also crash from time to time. There is no perfect store of value that is immune from losing its value.
sr. member
Activity: 2422
Merit: 357
If you wanted to make money to buy a new car, why not get a job and just put your salary into bitcoin?! I'm sure that a few successful trades would help you on your way. Just avoid leverage trading and sh#tcoins, and you'll get there in no time
Probably because of the risk with Bitcoin and same scenario, there’s no guarantee for the price pump. Savings is a good idea for that goal but unfortunately, the cost of the car increases for many factors and not just about the inflation. One good here is that, you are able to save the money so when you needed the money you can easily have it. Try to invest as well and look for an investment that will fit your risk appetite, don’t just invest without having any knowledge about it.
sr. member
Activity: 336
Merit: 365
The Alliance Of Bitcointalk Translators - ENG>PID
Sometimes, every delay can be a success. What if the so called your dream car isn't the car actually meant for you and God is just working in misterious ways to open good doors for you?  You shouldn't stress your self too much trying to save up just to use it all on one item.

Buying a car with all your savings? what will you use to power the car? How would you pay for maintenance and other issues that would arise from buying a car.
Just look for a good investment to put your savings on for now until you yield profits, then use your profit to buy a car. It mustn't be your dream car if it's too expensive.
hero member
Activity: 2324
Merit: 562
DGbet.fun - Crypto Sportsbook
Inflation is the needed one in the economy,because of the inflation people demand of the product will increased.When ever the demand for the product increased,we can able to produce the product to get some profit from it.If your delayed the product produce,the demand meet the supply and the economic This can increase the demand of the market,the same market with new prdoduct.Like wise when the product is enormous in the market,the money supply will be increased by the central Bank of that countries will increase the money.Then people have money to buy the additional assets as compared to before.Most important one is the money can be used to the all old desire profits.The excess can used as the saving for your future.
hero member
Activity: 2730
Merit: 632
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
Lets just accept the fact that inflation is an inevitable thing for us to avoid out.Yes, we do make out some sacrifices when it comes on trying out to achieve our goal or targets but if those money you had saved up would be in form of fiat then stored in banks then it would be subjected to have that kind of situation unlike if these amounts are really that been put up on an investment which it could potentially be able to gain up profits more. Somehow this would really be actually depending on a certain individual since not all would really be that risks takers and would eventually just sitting around on much less risky space and wont tend to go far
with those kind of decisions which is something that would really differ into each person.

It is really that a huge challenge for us if ever we are saving in fiat where inflation could really affect that much. If we are really that eager and serious on reaching goals then dont stop just because you've seen that the price had increased.Its true that you would need to work hard more and would be wise on finding other sources of income or would really be touching up that investment thing as long it would
benefit you out and would be fasten up the process on achieving your goal. Dont give up!
hero member
Activity: 952
Merit: 507
If you wanted to make money to buy a new car, why not get a job and just put your salary into Bitcoin?! I'm sure that a few successful trades would help you on your way. Just avoid leverage trading and sh#tcoins, and you'll get there in no time
I don't think that is the best possible advice to a noble who is not a pro in trading and this kind of advice can lead to losses since the member may attempt to seek that quick route that will end him in more great danger.


Buying Bitcoin is a good idea but then he must be willing to wait for a long time even longer than expected if he continues saving the way he explained in this thread., let's make a point clear when having a target savings plan that has a fixed time, Bitcoin won't be the best option as the choice of investment at that point since Bitcoin risk factor is higher in this context.
jr. member
Activity: 35
Merit: 1
If you wanted to make money to buy a new car, why not get a job and just put your salary into bitcoin?! I'm sure that a few successful trades would help you on your way. Just avoid leverage trading and sh#tcoins, and you'll get there in no time
sr. member
Activity: 728
Merit: 444
Some time 4 years ago, I started to save so that I can buy my dream car which was around $15,450. I was determined. I cut a lot of costs and delayed so many gratifications. For example, I stopped going out with the boys. I did a lot more recycling. I quit eating out and opted for cooking my own meal, I didn't buy new clothes, jeweries, electronic devices etc. I was pretty determined to reach my car saving goal. Before I knew what was happening inflation struck and it swept across all industries. Did you know that my dream car that was an equivalent of $15,450 rose up to $23,680. My heart sunk. It took me doing some additional jobs and twice as much time to rise the new money. So, when someone said that inflation posses a great challenge for delayed gratification. That is, delayed gratification isn't as rewarding especially during inflation, recession. I agreed with them. Do you?
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