Savings during inflation - page 3. | Bitcointalksearch.org

Moeda

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Quote from: uneng on October 14, 2022, 11:43:08 AM

The only currencies I'm trusting to hold are cryptocurrencies, and a little bit regretful already for not selling them last year.

It means you are not really sure what you believe when you feel sorry that you can't sell it. This means that you are still calculating the cryptocurrency with a fiat value. This shows our dependence on fiat. It's not just you, it's possible that I felt the same way when I couldn't sell it last year.

Quote from: uneng on October 14, 2022, 11:43:08 AM

Fiat currencies we have to spend and invest in something solid which can gain value within time, that is what I have been taught despite inflation.

If inflation occurs, of course the fiat value in a country will be lower. However, we must realize that inflation does not occur with all countries, but there is a country with a higher fiat exchange rate, causing a drop in the value of currencies in other countries.
This habit occurs in small countries whose currency value depends on a country. We know that most countries use the dollar exchange rate as a measure of the high and low of the currency in that country. This is the basis for inflation to occur. Apart from that, people's purchasing power is low, and raw materials are high in terms of imported goods. And it's true as you say that investment will solve the problem. But the investment is more on real estate in the form of private property, so that our investment is not dependent on certain parties who can change rules or policies at certain times.

uneng

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The only currencies I'm trusting to hold are cryptocurrencies, and a little bit regretful already for not selling them last year. Fiat currencies we have to spend and invest in something solid which can gain value within time, that is what I have been taught despite inflation.

The sooner you learn this lesson the better, so you won't regret your decisions when you see the purchasing power of your savings decreasing considerably after a year or two.

Buy a house, an apartment, a piece of land (preferentially with water source) if you have enough money, but don't hold fiat for too long.

Cookdata

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Quote from: Maidak on October 09, 2022, 10:41:20 PM

Quote from: Jatiluhung on October 04, 2022, 02:50:35 AM

~snip~

and related to saving when inflation is indeed difficult to do. and very risky too if we save in the form of money. because the value of money will continue to decline over time. so it is not wise if we save money when inflation takes place. it's the same as intentionally we make the value of our assets evaporate.

As you said, what kind of assets should we save so that the asset value does not evaporate? If you save in bitcoin and the bitcoin price is now more than 70% off ATH, is that really the savings that keep you out of inflation? Once inflation rises, all commodities rise and riskier assets like bitcoin and gold inevitably fall. I feel that once inflation occurs it is inevitable, apart from saving fiat, and long-term investment, the only way to fight inflation in the short-term is to work hard, do more than usual, find more sources of income to fight inflation.

The people and the salary earners who are working under the federal government are the highest paid in most countries, they are heavily paid and work as hard but they are deeply affected by inflation, and our parents are complaining and crying in pain, what do you have to say about that? You can't beat inflation by working your ass out my friend.

Inflation is not overcome in a single day or month or year, it takes time as a person or a country to jump out of it, if our interest is as a person, you would have to start investing especially now that most markets are down for long investments, assets like Bitcoin and by the time everything skyrocket, you will be at the front line when everybody will be shouting of increase in the price of goods and services, it possible that we may see another decline in investments those times but I know you know better that bitcoin always stand out as a rock that doesnt bleed the way other investments does, just imagine you bought 10 bitcoin in 2020 when the price was $5k.

In summary, If you must beat inflation as a person, work hard and buy deflationary assets like Bitcoin and enjoy the outcome(always rosy at the end).

og kush420

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Quote from: Punakawan on October 07, 2022, 07:59:19 AM

Quote from: bitgov on October 07, 2022, 06:38:48 AM

Quote from: Wong Goblog on October 07, 2022, 05:47:14 AM

If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

Saving is important - be it inflation or the normal life.
Having emergency fund is very important . . trouble and bad luck comes uninvited. You never know what is going to happen in the next minute. Sometime of professional or personal life changes in a jiffy
So better be prepared! Always

Before bad things happen we must always anticipate, for example the inflation trend that occurs must be responded to by increasing the source of income, the benefits of saving are for very emergency things such as illness or needs that we cannot postpone.

Having emergency fund is as important as having the monthly fund.
Life is so unpredicatable - one should always be ready for unforseen - this happens once in a lifetime but here is no denial it happens

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Quote from: Jatiluhung on October 13, 2022, 01:54:26 AM

Quote from: TribalBob on October 09, 2022, 09:44:24 AM

emergency fund = savings = monthly fund is all important in my opinion because it can be used at the right time. especially in times like this, inflation is getting worse in my country, making my savings as a helper to meet needs

you are right it can help us when we really need urgent funds. but the fact is when inflation is like this it is very difficult to set aside money for savings. even our savings become used. but no matter how difficult it is we really have to be able to set aside a little of our money for savings. even i started looking for extra income now to increase my income. so that I can still save even though the economic conditions are really in crisis. because I read about the conditions in 2023 that we really have to watch out for. and we must have preparations from now on. like saving. I even started stocking up on preserved food too.

Indeed, when inflation occurs sometimes what we have planned doesn't work.
inflation occurs everywhere and we must be smart and wise in managing finances,
as much as possible to save even if only a little because predictions from experts related to 2023 the conditions will be even more difficult

livingfree

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Quote from: jerry0 on October 12, 2022, 07:27:38 PM

Would it make sense to buy lot of electronics now because the price and supply would be higher later on?

Depends on what electronics you'll buy. Is that just for having fun and it's just a want that you've been longing for? If that is so, assess your financial status if you can avail that without any regret then buy it.

But if it's going to eat up a big portion of your budget then, you should think twice or more than that instead.

And if that electronics would generate money to you then it's a certain yes but also, if that electronics you want is you've been dreaming of then it's a good thing to buy it for your mental health and satisfaction.

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Quote from: Wong Goblog on October 07, 2022, 05:47:14 AM

If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

Saving is important - be it inflation or the normal life.
Having emergency fund is very important . . trouble and bad luck comes uninvited. You never know what is going to happen in the next minute. Sometime of professional or personal life changes in a jiffy
So better be prepared! Always

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Quote from: TribalBob on October 09, 2022, 09:44:24 AM

emergency fund = savings = monthly fund is all important in my opinion because it can be used at the right time. especially in times like this, inflation is getting worse in my country, making my savings as a helper to meet needs

you are right it can help us when we really need urgent funds. but the fact is when inflation is like this it is very difficult to set aside money for savings. even our savings become used. but no matter how difficult it is we really have to be able to set aside a little of our money for savings. even i started looking for extra income now to increase my income. so that I can still save even though the economic conditions are really in crisis. because I read about the conditions in 2023 that we really have to watch out for. and we must have preparations from now on. like saving. I even started stocking up on preserved food too.

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Would it make sense to buy lot of electronics now because the price and supply would be higher later on?

Tallupooh

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Saving money is indeed very good, but in this time of inflation, saving money will be useless. Because goods always go up, maybe when we have savings, we will take the savings money because of conditions. The money we may save now, it looks like a lot, but not necessarily in the following years. The price of goods will be higher than our savings.

So maybe, the savings are better invested, rather than the money being left alone, while the price of goods rises.

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Quote from: Theones on October 09, 2022, 06:24:11 PM

Quote from: TribalBob on October 09, 2022, 09:44:24 AM

emergency fund = savings = monthly fund is all important in my opinion because it can be used at the right time. especially in times like this, inflation is getting worse in my country, making my savings as a helper to meet needs

also there is no use of making excessive excuses - there will be only one solution. and that is to have good money in hand so that you are at peace.
And only way to have financial freedom is to work hard and dont waste you time

That's right because financial freedom doesn't just come and don't expect anything like that to happen,
better use this precious time to keep working hard and as much as possible to have more than one source of income,
and after having income it is very important to also set aside money for saving

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Quote from: Maidak on October 09, 2022, 10:41:20 PM

As you said, what kind of assets should we save so that the asset value does not evaporate? If you save in bitcoin and the bitcoin price is now more than 70% off ATH, is that really the savings that keep you out of inflation? Once inflation rises, all commodities rise and riskier assets like bitcoin and gold inevitably fall. I feel that once inflation occurs it is inevitable, apart from saving fiat, and long-term investment, the only way to fight inflation in the short-term is to work hard, do more than usual, find more sources of income to fight inflation.

You yourself answered your own question: "All goods are becoming more expensive," so the commodity business will be able to protect against inflation. Bitcoin fell in price that's right, but if you choose Bitcoin as a defensive asset, then you must understand all the risks associated with it, in particular its cyclical movements, which periodically lead to such large drops. But it is also worth understanding that this is always a temporary phenomenon and it will be followed by growth, which in the end will not only save you from inflation, but also bring good profits.

Maidak

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Quote from: Jatiluhung on October 04, 2022, 02:50:35 AM

~snip~

and related to saving when inflation is indeed difficult to do. and very risky too if we save in the form of money. because the value of money will continue to decline over time. so it is not wise if we save money when inflation takes place. it's the same as intentionally we make the value of our assets evaporate.

As you said, what kind of assets should we save so that the asset value does not evaporate? If you save in bitcoin and the bitcoin price is now more than 70% off ATH, is that really the savings that keep you out of inflation? Once inflation rises, all commodities rise and riskier assets like bitcoin and gold inevitably fall. I feel that once inflation occurs it is inevitable, apart from saving fiat, and long-term investment, the only way to fight inflation in the short-term is to work hard, do more than usual, find more sources of income to fight inflation.

dunfida

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Quote from: Theones on October 09, 2022, 06:24:11 PM

Quote from: TribalBob on October 09, 2022, 09:44:24 AM

emergency fund = savings = monthly fund is all important in my opinion because it can be used at the right time. especially in times like this, inflation is getting worse in my country, making my savings as a helper to meet needs

also there is no use of making excessive excuses - there will be only one solution. and that is to have good money in hand so that you are at peace.
And only way to have financial freedom is to work hard and dont waste you time

Thats common sense and pretty basic but it seems this basic thing is mostly been neglected out by most people which it do results or ended up on being broke once there are conditions or situations do happen.

You should really make yourself prepared on whatever circumstances that you might faced considering that inflation is something that we cant really avoid not to experience.This is why it would be sensible for you to

atleast do your best on finding another source of income.You should work hard and never indeed waste off time on something not that productive.You would find yourself not
to be worried nor not on being stressed on whatever times or situations might come since you are financially prepared.

TribalBob

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Quote from: og kush420 on October 09, 2022, 05:44:14 AM

Quote from: Punakawan on October 07, 2022, 07:59:19 AM

Quote from: bitgov on October 07, 2022, 06:38:48 AM

Quote from: Wong Goblog on October 07, 2022, 05:47:14 AM

If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

Saving is important - be it inflation or the normal life.
Having emergency fund is very important . . trouble and bad luck comes uninvited. You never know what is going to happen in the next minute. Sometime of professional or personal life changes in a jiffy
So better be prepared! Always

Before bad things happen we must always anticipate, for example the inflation trend that occurs must be responded to by increasing the source of income, the benefits of saving are for very emergency things such as illness or needs that we cannot postpone.

Having emergency fund is as important as having the monthly fund.
Life is so unpredicatable - one should always be ready for unforseen - this happens once in a lifetime but here is no denial it happens

emergency fund = savings = monthly fund is all important in my opinion because it can be used at the right time. especially in times like this, inflation is getting worse in my country, making my savings as a helper to meet needs

posi

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Quote from: RealMalatesta on October 06, 2022, 02:48:04 AM

I get that they feel more comfortable there, which is fine but the reality is that we shouldn't be feeling comfortable and why do people feel secure and safe there is beyond my understanding. Bitcoin at least allows you to have the full control of your money and that full ownership could mean that nothing and nobody could ever disturb it at any moment and that's something you can't get with fiat.

Bitcoin gives us full control and no one can bother us but with its volatility also scares a lot of people, for me it's really not safe to put all your assets into bitcoin. Better we need to diversify, bitcoin should only be a long term investment, not a place to save. If you bought bitcoin at the beginning of the year for 50k$ and the current price is 30k$, it means you have lost more than 50% of the asset value, which is not the case with fiat. Therefore, you should have fiat savings for emergencies and long-term investments in bitcoin.

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Quote from: bitgov on October 07, 2022, 06:38:48 AM

Quote from: Wong Goblog on October 07, 2022, 05:47:14 AM

If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

Saving is important - be it inflation or the normal life.
Having emergency fund is very important . . trouble and bad luck comes uninvited. You never know what is going to happen in the next minute. Sometime of professional or personal life changes in a jiffy
So better be prepared! Always

saving is the best you invest, in investing we can divide it into several areas of investment, with different levels of risk. it looks like gold, bitcoin and property. both have different levels of risk, so they can support each other, by dividing it into several levels of risk, investment stability will be maintained and of course psychologically stable. that way we can actually do other activities and our savings continue to grow

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Quote from: bitgov on October 07, 2022, 06:38:48 AM

Quote from: Wong Goblog on October 07, 2022, 05:47:14 AM

If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

Saving is important - be it inflation or the normal life.
Having emergency fund is very important . . trouble and bad luck comes uninvited. You never know what is going to happen in the next minute. Sometime of professional or personal life changes in a jiffy
So better be prepared! Always

Before bad things happen we must always anticipate, for example the inflation trend that occurs must be responded to by increasing the source of income, the benefits of saving are for very emergency things such as illness or needs that we cannot postpone.

Wong Goblog

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If we have a positive vision in the future, the thing we have to do is saving, whatever economic and financial conditions, we must be able to focus on saving, besides saving, of course a good thing is investing, with investing, we are like planting trees that continue to grow.

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Quote from: Vzae on October 05, 2022, 12:55:23 AM

basically, inflation is difficult to predict and avoid when it will happen, like bearish and bullish on the crypto market. so, it's true what you said, the best decision when experiencing inflation is to buy all the needs you need without having to delay

Inflation is difficult to predict because of many causes and not easy to control either.
I think when inflation we have to be wise in managing money,
What is clear is that inflation is happening everywhere

Topic: Savings during inflation - page 3. (Read 9948 times)