Topic: Savings during inflation - page 4. (Read 9947 times)
The Saving is the very important thing because in any kind of emergency the saving can help in survive. Savings during inflation is more important.
Yes this is why I do not save much in a bank. Usually one of my closest friends have advised me that if I had some decent amount of cash I should be putting it in a time deposit. But what she didn’t realize is that once she put that money in the bank, she doesn’t fully own it. In other words, it’s not in her full custody.
No disrespect though. But on the other hand, she also invested some BTC, ETH and BNB with her extra spare funds. But she stores it in a CEX and not a hardware wallet. I saved most of my money on Bitcoin and put it in a hardware wallet to ensure that it’s really safe rather than relying on a CEX or a non-custodial wallet that was created in the internet.
I do agree on the part where I put all my money in Binance so I understand your friend and why they did that, but at the end of the day putting it in the bank would be a terrible idea and I do not understand why that would be an easy decision to make for some people.No disrespect though. But on the other hand, she also invested some BTC, ETH and BNB with her extra spare funds. But she stores it in a CEX and not a hardware wallet. I saved most of my money on Bitcoin and put it in a hardware wallet to ensure that it’s really safe rather than relying on a CEX or a non-custodial wallet that was created in the internet.
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.
Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.
Well, if there is no option but to sell some assets that you own just to survive and make your ends meet. Then you have to do it without hesitation.I would say some and not all, but if you are in a very tough situation and you have no option then you just have to sacrifice and restart again until you survive and get those assets back again.
this is life where conditions will not always be what we want,
the most important thing is to consider before selling assets
Maybe that's not the only way and solution and there could be other ways before selling all of the assets that you've got. It's a situational thing to decide because you may want to keep at least a few of it.
Because you can have hard time of having those assets again upon selling but, if you really think that you can do it and you've got a plan then just follow what your will is telling you.
I agree that we should not rush in making a decision to sell our assets, we must be able to think calmly to find the best solution.
Because sometimes there are other ways to solve the problems we experience without the need to sell our assets, especially if the assets,
we have accumulated for a long time, it will be painful if we have to sell them. But if there is no other way, and the last option to solve our
problems is to sell our assets, we have to do it. But make a lesson that we must have more than one source of income, so if we have problems,
we don't need to sell our assets. Because the assets we collect should be for our retirement plans in the future.
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
if you are comparing the prices with last year than this is not a good comparison in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap
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
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
if you are comparing the prices with last year than this is not a good comparison in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap
This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.
This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.
And just on what carlfebz2 said that diversify as much as you could so that you would be able to sustain whenever prices would soar up high.You wont really be that stressing yourself on surviving on daily needs
and could still live on the life that you are getting used to.
Year by year it do becomes even more worst.
Yes, diversification with all your money is very important. All money needs to return more money, if it stops you have a big problem. Diversification is the way
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.
If inflation occurs, of course, the local currency will decline against the exchange rate. This will make the price of goods higher. However, we cannot predict when inflation will occur, so buying goods that are too excessive will also not be profitable. I think if we feel that a country will have inflation, it would be better if we buy gold, and save it. Because gold is anti-inflation, and can be used when the country is in inflation. If the price of gold before inflation was $ 62/gr, then after inflation we can sell at a high price. So that we can buy other goods even though the country is in inflation.👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.
Maybe now we can use Bitcoin as an alternative investment to overcome inflation.
If saving, I also recommend gold as saving better than saving in fiat, because gold will be more stable, the possibility of reduction is still there but not too much. We must always have a savings, otherwise our life is easy to get into trouble because life is always full of surprises.
Bitcoin should only be seen as a long-term investment, in the long run it actually works against inflation. but in the short and medium term, it is not suitable as a place of savings or a safe haven against inflation because of its high volatility. Look at the current situation, bitcoin plummeted because of the effect of inflation and Fed rate hike.
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
if you are comparing the prices with last year than this is not a good comparison in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap
This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.
This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.
And just on what carlfebz2 said that diversify as much as you could so that you would be able to sustain whenever prices would soar up high.You wont really be that stressing yourself on surviving on daily needs
and could still live on the life that you are getting used to.
Year by year it do becomes even more worst.
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.
If inflation occurs, of course, the local currency will decline against the exchange rate. This will make the price of goods higher. However, we cannot predict when inflation will occur, so buying goods that are too excessive will also not be profitable. I think if we feel that a country will have inflation, it would be better if we buy gold, and save it.
Because gold is anti-inflation, and can be used when the country is in inflation. If the price of gold before inflation was $ 62/gr, then after inflation we can sell at a high price. So that we can buy other goods even though the country is in inflation. Maybe now we can use Bitcoin as an alternative investment to overcome inflation.
You will always lose money in the long run if you hold and save your money in the bank. Bank interest rates can never beat the inflation rate. The value of the money goes down, the price of the goods increases like you have shown in the picture.
You don't need to always purchase what you might need so that you don't get hit by the inflation. Better to invest and keep the money flowing. If you have money that you won't need, invest in bitcoin or other well known crypto currencies.
You don't need to always purchase what you might need so that you don't get hit by the inflation. Better to invest and keep the money flowing. If you have money that you won't need, invest in bitcoin or other well known crypto currencies.
Today, to avoid inflation, we should all have an investment and a savings account. In my opinion, even though currency devaluation is happening on a daily basis, it is still best to save in fiat because life is not always what we expect. Also, it is not recommended to invest all the excess money in bitcoin or cryptocurrency, it is not safe because the volatility of the cryptocurrency is too great. Sometimes need money but we are in bear market like now, bitcoin value drops to 60% then we can hardly sell. Everyone should have an investment for life as well as future but always diversify, invest in bitcoin and invest in gold for financial balance.
It is like putting the eggs in one basket - if it fells - you loose all the eggs; better invest in different business so that if one is not profitable the other one is...
The good thing when inflation is to continue to save, focus on the goal that we must become better, by saving it will automatically reduce consumption so that we can choose which needs can be reduced or eliminated.
Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.
The impact of inflation is felt by almost everyone. So it's no wonder people sell their assets to survive. But selling an asset that we have to be used as capital is a wise move. rather than we sell assets and immediately use the money from the sale without being used as capital first.if we use the proceeds from the sale of assets to be used as capital, it is hoped that we can maintain that capital and only use the money from the profits of the business that we build. be it from trading or whatever.
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.
Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.
Well, if there is no option but to sell some assets that you own just to survive and make your ends meet. Then you have to do it without hesitation.I would say some and not all, but if you are in a very tough situation and you have no option then you just have to sacrifice and restart again until you survive and get those assets back again.
this is life where conditions will not always be what we want,
the most important thing is to consider before selling assets
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
if you are comparing the prices with last year than this is not a good comparison in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap
This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.
This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
if you are comparing the prices with last year than this is not a good comparison in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap
if you do have various source of income which simply means that you arent just depending on your 8-5 job.Sad to say which majority of us do really stick or earning up on this way which
we dont really have any choice.
This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.
indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.
The only method to savings i can advise during inflation is to invest on digital currency like bitcoin and have your investment work for you over time than buying liability items, businesses failed and prices got hiked during inflation and thereby the price of commodity increses and the value of money decreases within that specific period, but one of the best solution is to go with an economy that is free from inflation whereby the value of your asset has such tendencies to increase over time instead of decreasing with fiat currency over time.
saving up in inflation is a real hard job - esp in COVID - but the rich countries have give so much support and aid to the people Some of the people who timely clamined their funds were in good situation then those who were sleeping and watching netflix all the time
The thing you bought for 1000 ends up being 1100 next year after 10% inflation, which means you saved money but the question is will you be able to convince yourself that you wouldn't make more than that if you kept it? If you were going to spend on something else, or just keep it hidden in your house then it is better to buy that equipment, but if you want to buy bitcoin and hope that you could profit then you could turn your 1000 into 1500 dollars and spend that 1100 instead of 1000, and still have 400 left. That's the question people's minds.
Recently I purchased a PC and in my nation PC taxes are 100%, so I probably bought it by paying more than any of you, but it was a good deal because I am 100% sure that the price would go up a lot more than what I paid for it in a few months let alone a year.
There is a fine line between these two things. If you end up spending it, then you would be spending it at a moment when you know it will go up in price later on so it is easier to buy right now. But when you are investing into things knowing full on well enough that you are going to end up not using it, or not really have a place in your life, then it is better to save it.Recently I purchased a PC and in my nation PC taxes are 100%, so I probably bought it by paying more than any of you, but it was a good deal because I am 100% sure that the price would go up a lot more than what I paid for it in a few months let alone a year.
So, you need to ask yourself this question very very well, will you be wanting it months, even a year down the line? If you do, then it is better to buy now and even make a debt, because you will buy it for more expensive price later on, so you should at least pay less right now, but if not then saving it is better.
when inflation is rising. saving some money (in the form of money) is the most risky thing. Because when inflation almost all currencies experience a decline in value (not all). so that the value of money becomes unable to keep up with the rate of prices of goods that continue to increase due to inflation. we must really look for alternative ways to protect the value of money or the value of the assets we have so that they are not too affected by inflation.
And how to save in the form of money is the most to be avoided. especially if you save your money in the bank it will absolutely not make the value of your assets increase. will even decrease. because the interest rate given by the Bank is not proportional to the decline in the value of the currency itself.
maybe not much choice if the money we have to save is not so much. besides we have to make business capital so that our money continues to flow and make a profit from the business. but it is also a risky thing if the business to be managed is still speculative.
maybe the alternative path that can be chosen is to save it in Gold and Property.
And how to save in the form of money is the most to be avoided. especially if you save your money in the bank it will absolutely not make the value of your assets increase. will even decrease. because the interest rate given by the Bank is not proportional to the decline in the value of the currency itself.
maybe not much choice if the money we have to save is not so much. besides we have to make business capital so that our money continues to flow and make a profit from the business. but it is also a risky thing if the business to be managed is still speculative.
maybe the alternative path that can be chosen is to save it in Gold and Property.
Lastly, investing is highly preferable to savings.
Personally, I think most of us would rather invest than save during inflation because investing is done with a business model. After all, where there is no risk, there is no reward.
However, if inflation runs higher than the interest rate you receive on your savings. In other words, what would happen if things turned around? Well, if your money is kept in a bank that doesn't pay interest and inflation supports price increases, then your savings will have less value. We will definitely get a poor return on our savings.
Generally Investing is something that many people don't do because of their ignorance. It is a known fact that most people do not have their own financial advisor.
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