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Sometimes looking towards increment in salary wouldn't solve our problems.Over the years there has been hardship in the economy all over the world, and people complain on how to increase there salary or have other alternatives of getting more funds, and even when they get what they desire, they still complain that since their source of income has increased, there expenses has also increased. But I think that people needs to control the way they spend, in other to be able to save more. If paraventure we decided to spend according to how we earn without reducing the level of spending, we may end up not being productive.

For me cutting down expenses would be another way of adding value to our money. Like cutting down the rate we eat, for those that spend alot on food, you can do better without over eating. the way we buy unnecessary items that has no value, when we have other useful things to do with money. So  lets focus on the top priorities, expecially things that will bring more Money.

What do you guys think about this? Would this be helpful? And what do you think will help us in this time of economic hardship?

Am sorry I have to change the topic of discussion from how to reduce inflation to how to survive inflation and economic hardship sudjested by sokani.

Side hustle can always help, can even evolve into your main job.
You life work balance will suffer. But that balance won't feed you.
 

Cutting expenses can work only for people who are earning enough but are overspending, but most people in bad economic situations are those who don't earn enough to be able to survive when inflation rises to extreme heights. You can't cut costs when you are already saving money on food by eating twice or sometimes once a day. That is how some people live in such economic situations.

We think we are the ones who are affected badly by inflation but we are not. We are simply wasting a lot of money on useless things without even realizing it, but if you look around you, some people sleep on the roads and barely eat food for the whole day. They don't have homes, jobs, or anything. Imagine asking for help the whole day and getting a few bucks and then not being able to get a whole meal because of high rates of food and stuff.

So, inflation affects everyone, but only some people can have a solution for it and many wouldn't even have those solutions available for them.

Save your money through spending less is good but not enough.

Savings can not make your richer and can not help you to deal with inflation created by your government, central banks and national inflation then global inflation.

You have to use your savings to invest smartly to deal with inflation. It is a way but investment is risky and by saying invest smartly, I mean you must manage risk and benefit for your investment very wisely.

By this, you will have multiple gains: avoid effects from inflation, increase your wealth and avoid risk to lose money through investment.

Choose a best, strongest investment assets will help you avoid risk, increase chance to get profit.

Bitcoin is the best if you are looking for an investment asset in cryptocurrency market. Compares to Traditional market, it is one of best too.

Bitcoin & Traditional Assets ROI (https://casebitcoin.com/)

Governments have to start working to reduce inflation so that people don't have to endure hardship in first place. Unfortunately they all tend to know a certain acts against inflation, none of which works like increasing interest rates. The real solution which is to reduce costs (ie to spend less) is not adopted by the governments! Which is why they print money to cover that deficit which then causes inflation.

As for what individuals can do in the face of economic hardship, it is all about money management. It is not necessarily about "eating less" as OP puts it but a general management of whatever amount of money you earn or can earn. It could be cutting extra costs (eg. a bad habit like smoking could be quitted), it could be taking up more shifts or doing an extra work to earn a little bit more money, and of course it could be investment so that you are not bag holding fiat that keeps losing value.

Governments create their loops and repeat it many times. Printing money and providing new money supply to their citizens and society to increase purchasing power in their economy. Later when inflation shows bad impacts, they tighten their financial policy by increasing interest rate and force their citizens to deposit money back to central banks, commercial banks.

Problems are it is more easily to print new money and dump it to society than retrieve it back to central bank. So the net effect from government and central bank is always increase inflation.

Inflation will always there, to repeal inflation the government need to shut down banks and abandon fiats.

To reduce inflation, make sure the country is not overpopulation, which mean you need Hitler or Thanos.

But if you only focus on yourself, you can only combat against inflation e.g. spending for necessary needs, work in high paying job, invest, and anything that related to grow your financial and reduce your spending.

You're suggesting how an individual can reduce their expenses and save up more money from what they earn, not how a country can control inflation. If you save more money, invest some and cut down on expenses and liabilities, you will be able to grow your asset base and survive inspite of inflation.

A country trying to control inflation will depend on what caused it. During the lockdown of 2020 there was a spending problem, countries were trying their utmost to improve spending through stimulus to increase the circulation of wealth
The great depression of 2008 preceded a period of boom when citizens were highly optimistic leading to greed, borrowing and investing was on the high, threatening a run on banks at the time, leading to th subsequent recession.

I'm oversimplifying both situations here to show that each situation differs and should be handled differently.

In fact many people are worried about their money but in economy everyone has to work together in this matter of economic dependability in the world regardless of economy everyone has to suffer because of it many people were worried about their income but others are losing their money continuously so  All should unite to protect the economy of the country

Every person has a different perspective related to how to overcome economic challenges. Your suggestion is very good but I have one question for you and then I will give my suggestion.  We know a person comes to the world and starts serviving and the first and basic thing to keep him alive is food we also know that in today's time, the average life span of a person is 50-60. So in this period if he compromises on food then his life I think is worse.  Besides this, if a person has a single source of income then he needs to increase his source like if he is dependent on a government salary only then I  suggests that to start a part-time job in any shop this will help him a lot.  The government salary he can spend on his daily life expenses and from a part-time job he can make some savings for his family.

Inflation is just one way in which the governments of this world, manipulate the economy to fit their needs. Inflation statistics are used to determine the wage increase for government employees and also some private companies, so politicians will use that to reduce salary increases, because they control that.

You will find that the items in the inflation basket, does not include the things that goes up in price the most.. because that will push up the inflation rate too much and politicians does not want the inflation to go up too much, because it angers the voters that vote for them.

in fact, it is the government's job to be able to regulate how their country's inflation can be controlled. because individual efforts to help deal with inflation are not very effective, because they only work on a small scale. meanwhile, when the government through their regulations and decisions can have a significant impact on inflation conditions in their country. for example when increasing interest rates higher to be able to regulate inflation, it is much more effective than an individual's efforts to save on their expenses in food or various other things.

Most think that more money is equal to more financial freedom and end up spending way more than they need.


That’s true but that might be harder to achieve when the inflation rate in a country is already relatively high. Even if they just buy their basic needs, it might still be harder to spend less.



I will always say investment is the key. There are numerous ways to invest not only in crypto. You can buy real estate and use it for a passive income. You can invest on different kinds of businesses.

Increasing workers salary is not the best or permanent solution to fight inflation since it will always result to increase in labor cost thereby skyrocketing production cost. But workers needs this increament to survive because money has lost its purchasing power. Keeping workers at the same minimum wage during inflation would cause untold hardship. The government is expected to increase wages as a temporal measure while to find better solution to curb inflation.


Your solution is fine for those who spend money on luxury. I don't think you have lived in a country where your salary can't sustain you for a week because of inflation. It is easy to cut other expenses but reducing food will be a difficult task especially when you have children and other dependants. I can decide to eat twice daily but you can't subject children to such adjustment. The only option for me is to seek other source of income and if possible go into agriculture and grow some of your food. If you also have the means, you can consider moving to freindly nations with good economic conditions.

That's true that even there will be an increase with wages, it's also going to impact the expenses will increase too. Or that's the solution by the continuous rising cost of everything.

But it's not about what you save because even if you're a saver, there's a huge tendency that when you're needing most of your money, you'll still be able to spend what you've saved.

I agree on this one but as you cut down your expenses, try to find ways of increasing you income. That's one way of fighting against the inflation but there's no way that you can reduce it on your own, it's a country's and leadership's task to do.

Even if you do all that shit (given that they're good and logical thing to do) if you're country constantly prints money so they can spend more for their overpriced projects, you will still be experiencing inflation and the things that you'd get would always be the same, you might be able to survive even just a little but you got to understand that your money will never be worth more since it's value keeps reducing while the price of goods and services keep going up, combating inflation without the initiative of the government or even aid from them, it's going to be useless, unless of course everyone does those stuff but that's being dreamy and too much of an optimist, we all know not everyone will be able to do that and commit to it to make sure that they're making any difference, some people will have a hard time.

Wise financial management is very important, regardless of how much salary we receive each month. It is true that increasing salaries alone does not always solve financial problems, as uncontrolled spending habits can offset increased income.

Therefore, it is quite important for us to be able to control expenses and make realistic budget plans based on existing income. This can include reducing unnecessary expenses, such as excess food or purchasing items that are not really needed. By managing expenses wisely, we can save more and increase the value of our money.

In addition, when facing economic difficulties, it is important to look for other alternatives to increase income or save. This may include seeking investment opportunities, finding additional sources of income, or improving skills to get a better job. By taking these steps and managing our finances wisely, we can help weather tough times financially.

The so called inflation citizens only have less fraction compare to the government they are the holder of inflation through their policy and laws as well as the kind of investment the government venture into. Eg government borrowing money to be shared by few individual without investment on productive sector or area like agriculture as Major commodity that can aid return to the economy , even if all the citizens reduce their spending in food it will not cut down inflation because the major percentage of inflation is the hand of government.

Printing of money and stockpiling is done by government and this are the course of inflation, selling and privatizing government properties which leads to reduction of labour Force and inability to control pandemic before occurrence even when occurred failure for quick respond all this is government issue individual and citizens have only few fraction to add.

I think your post title and your OP content aren't related or probably insignificant since inflation "is always a monetary phenomenon." It means that what the government does with its money supply will ultimately be the most significant factor affecting inflation. What you're suggesting is improbable in nature since not everyone will agree to more savings, and let's say everyone agrees to reduce consumption/more savings, the question is to what extent? One year? One decade? At the time they deploy their savings to buy something, inflation will return to its equilibrium.

Anyway, about economic hardship, it's more of a personal issue, so you should solve it according to your economic situation as not everyone is facing the same problem. The rich, for example, don't give a damn about inflation in their personal scope (they'll think about it more in the business scope).

Cutting down on expenses is definitely a good measure to tackle inflation, however there are some expenses you cannot cut down, especially if your a parent. So I believe side gigs are another method to which you can help to leverage yourself when there is high inflation in your country. Also, it shouldn't always be about the citizens paying through their nose to sustain themselves and their families whenever inflation hits in, Government should be held responsible too so they can share in responsibility of helping citizens fight inflation.

Like providing affordable housing schemes for citizens, Affordable transportation system, subsidizing the healthcare system for citizen's and a whole lot more they can do.  Not letting the citizens bear the brunt of inflation alone.

It's true that inorder to increase savings from a fixed income, the person has to spend bellow his income, otherwise there's no other way to be able to save for investment or rainy days. Another way to increase savings is to get a second job or learn a skill that'll add to your income, by that you can have money to invest in a valuable asset like Bitcoin, and save for emergency expenses that can occur without giving notice. The government has it's own part to play by providing basic amenities and making sure that the macro economics of the country is stable, but they won't put food on everybody's table, so people are responsible for their micro economics, to plan their finances to avoid poverty.

There are many strategies a government can use to tackle inflation, as you have said let me add to it,  in other to reduce unnecessary inflation the government should first of all make sure that the country export more than they import, they should depend on imported goods as this is the major reasons for inflation, secondly the government need to set up a regulatory body that will oversee retail and wholesale outlets there should be a fixed price for a particular goods all over the country or a particular region after putting every factor into consideration especially transportation of the goods,  thirdly the government should work with other governments within the region in other to build an economic and commercial partnership in other to enhance economic and commercial situations of their respective countries.

If we talk about individuals, the only way to reduce the impact of inflation is by saving expenses and we can look at other sources of work to make money. But if you look in general, it is the government that can reduce the impact of inflation because they have a much bigger responsibility. Each individual must prioritize spending that is much more controlled by cutting unnecessary purchases so that when inflation occurs they can balance income and expenses.

Inflation will make things complicated, for example the price of goods will rise uncontrollably and people's income will remain the same as usual, so in these conditions people must be able to make adjustments. If people are unable to balance money on buying things they need, their income and expenses will become unstable, which will affect the financial resources they get to meet their living needs.

Absolutely spot on dear my question to you now, So what do you think could be the best step to take if you’ve realized you’re from a certain country that constantly prints money so they can spend on overpriced projects.
Personally I’ll say migrating to another country will be best just so one can get the best results of the inputs he/she puts into their work life.

All levels of society need to be aware of the impact of inflation, because inflation does not respect anyone, even if they are poor people. So if people remain silent then difficulties will continue to occur, and in situations like this we are required to be independent in overcoming them, by minimizing expenses and increasing income by having a job or side income to be able to overcome these problems. And take advantage of technology to make money because nowadays many people use smartphones or other technology to make money.
And in my opinion, the habit of eating healthy food does not need to be reduced, because we really need healthy and nutritious food and the best solution is to prepare or cook it ourselves and eliminate the habit of eating fast food or going to restaurants.
And if we already have more income, it's a good idea for us to invest and not save money in the bank because over time the value of our wealth will decrease because its real value will be eroded by inflation.
And one of the best ways to fight inflation is to invest and investments also have varying returns, but the most important thing is that we need to choose investments that provide returns that are far above the inflation rate. And my suggestion is that investing in Bitcoin is a good choice as a hedge against inflation and bank collapse.

To me, your first suggestion about limiting the rate of eating is no a valid way to reduce inflation. In other aspects, I can compromise to cut expenses if necessary but if I can not increase my budget on food, I will definitely not going to reduce it because that's first basic of human need.


The truth is there is no perfect solution to control inflation but I think this very one is among the ways for government to control it. I do agree with you that it's much easier for government to create money in circulation than to take it back which is responsible for monetary inflation. The only way to overcome this is by moving away from a system that allows central banks to control money supply to a system of free banking. We can see how unrealistic it can be using that approach. For now, price stability is what they should look into to curtail further economic downturn.

Indeed, inflation has become the biggest problem in the world, almost all countries have a negative impact on inflation, both cash values, buying risk and what is worse is that people's purchasing power for products/goods is reduced, this will have negative effects in all sectors, government and society.

Here you are right, salaries are not the only solution to overcome inflation.

Other policies need to be implemented by the government.
For example:

Maybe by implementing several policies like those above, at least inflation can be controlled by a few percent. Apart from increasing salaries, goods are also an important point in overcoming inflation.

Will keep is short the primary reason for inflation is the deficit in export and import, if the export of nation is lesser than import then it's obvious that there would be inflation and there are countries like some rich gulf nations who import most of their consumables but still they are able to balance it out due to exporting oils. Government should work in increasing its export in order to keep inflation under control.

Your topic title and your discussion are a bit different and does not aligned together. I think it should be worth noting that at the individual level you cannot do anything to control or reduce inflation. It is the federal reserves and government that can combat inflation. So you may want to change your title to something else to fit your discussion like how to survive inflation and economy hardship. Having said that, buying foodstuffs in bulk will also help to save money than buying items individually.

First of all savings can no make you richer but will add value to your income. Let's say out of %100 of your income generation, if you spend roughly %70 and save %30 before, after cutting down your expenses you may spend 60 and save %40. If you multiply %30 by 12 it will give you %360 but after cutting down your expenses you may save %40*12 =%480 so saving or cutting down expenses may not make you richer but will Increase your fund expecially when you put the money to work.

Thanks for that, when I talk about saving or cutting down expenses, It does not necessarily mean we must save in the bank but can be used to invest. Sorry I didn't include that part . Because saving in the bank will not add anything rather inflation of the economy will still reduce the value in the bank.

Inflation is a poorly focused problem, low salaries, or an income not in line with your consumption, does not mean inflation, it is a phenomenon that, like the climate, affects everyone, there are no social characteristics or economic that are immune to inflation.

Therefore, the first thing to understand is the percentage of inflation that affects your country, there are "normal" percentages, others fluctuate, and the worst of all is the one where you live with an inflationary economy. In any of them, as a citizen you cannot do anything to change these situations, governments and private companies must do them, that is a priority, since that is where you can begin to take basic ideas to face price changes.

cost cutting expense while having a side hustle really works but not to everyone because not everyone has a capability to save due to insufficient salary income but for those who really wants to save money, cost cutting and limit the expenses is the key, It's difficult if you think about it but once you start it will continue until you manage the budgeting. One of the things that happens to us now is that when there is a slight increase in our salary, we immediately increase our expenses, which is wrong because you can't really save if you always do that.

As for how to survive in inflationary conditions, actually everyone has their own way because everyone can pressure themselves to get more money income and also pressure themselves not to spend more money on things they don't need. Except only for things that can bring in more money, such as through business and others, because in conditions of inflation, almost the average person with a low and middle income will find it difficult if they cannot plan how to spend their money every month.

Meanwhile, people who have large incomes or in other words are rich people, they will not be so affected by this even though they can also feel the same way as other people. This is because their income level can cover any difficulties they face themselves, although an increase in the prices of goods that are often used by everyone will also affect the level of sales for business people. Because they will also feel how people's purchasing power is starting to decline due to ongoing inflation, so we will all make our own way of dealing with it.

It does really works, it is really just that people are really that too lazy when doing things. They wouldnt really be taking any actions when they are still on a good situation on which its a normal approach but
we do know that when it comes to things such as inflation and other economic downturns or conditions then for sure it would really be gradually affecting people specially into those who are on middle to lower class.
When good and services becomes even more expensive compared before and you are still earning on the same paycheck and doesnt improve then you would really be definitely be able to feel up those changes.

This is why it would really be that sensible that you should really be finding up some side hustle before anything would really be that becomes too hard for you to make money. People wont
act out before its too late or they are already on the actual situation or condition.

Some people will unfortunately never be able to break out of the societal trap that they've had constructed around them, as often being born into poorer families can trap people in the same cycle that takes a massive hurdle to overcome. As some youngsters will be starting out in school, others will be forced to "earn their keep" - bypassing education in order to start working for money to help support the family. A lack of education at the right point can really stunt the potential of anyone. If you have education then the most powerful thing you can do it keep learning more, which can piece by piece break you free of the shackles - but you may ultimately need to move around, change jobs and find the right balance depending on your situation.

Cutting down expenses isn’t the solution when we talk about inflation. It definitely helps but there’s need for increased salary because the value of fiat drops over time. So, you have to pay more money to get something during inflation, and it is only right that your salary is increased because everything generally gets expensive during such periods. You can’t keep cutting down expenses forever because in the next 5 years, it is possible you may need to double the usual amount to purchase certain things.

I understand that humans usually have three kinds of needs, which include primary, secondary, and tertiary needs. The primary needs are the most important, and secondary needs are also quite important, but tertiary needs are usually less important, and we can do without settling them urgently. The mistake that some people make is that they usually abandon very important needs (primary needs) and solve secondary or tertiary needs, and at the end, they become depressed with the most important needs that were abandoned from the beginning.

Cutting down on expenses doesn't add value to the money but reduces the level at which one spends it. For example, if you would have spent $20 to have brake fast and you decided to go for a cheap meal that cost you $14, that means you have saved $6. 

At first I am against those people who says limit food or don't eat much, the reason why we are living is food and, good food gives us good life and sound health. Now this are things to limit or reduce to save cost; don't buy expensive cars or spend money on clubbing, such as consuming more alcohol, dealing on high drugs or throwing money around party house. Wearing expensive shoes and clothes, this is only subjected to those who are earning below what they spent per week or month. You can't be receiving 200$ per month and you keep spending 1000$ per month, this calls for urgent corrections.

Aside from reducing the cost of some unnecessary expenses, you can practice other things also to curb down your expenses or augment your income such as -
> de-clutter, sell unused items/gadgets that you think you don't need
> tend your own garden, even a terrace-type garden so you don't need to buy some of these in the market
> remove some of your subscriptions that you believe you are not really using much
> use public transport or walk if you can
> don't be tempted to buy luxury things, think before you buy one

Inflation is a curse for the country.  It increases the price of goods but does not increase the amount of people's income.  That is, there is no correlation between income and capital.  Yes people spend a lot of unnecessary things.  Everyone should spend wisely in times of financial crunch and live on a very limited budget.  But eating less is unusual.  Because every human being has a specific dietary requirement.  That is, a family has a fixed food requirement.  It is very inconsistent and unusual to control.  Maybe it can't be controlled.  Because people have to eat food to survive, there is no substitute for food.  So no matter how much inflation and commodity prices rise, people have to eat food and survive.

Cutting down expenses may really help in reducing expenses in order to survive in this high-inflation economy we are facing right now, but do you think it is enough? What if inflation keeps on increasing? Will you cut expenses until you have nothing to eat anymore? Like what is happening right now with the products, in order to maintain the price of the goods, they are reducing the serving or making the products smaller. Later on, we might see a smaller bit of that product. One solution that an individual may do is to have another source of income in order to keep on surviving in this economy. I know it may be hard as you may have a double job, but, in this advanced era, you can do online jobs or online side hustles together with your stable job. In that way, you can have more income or money to support your needs and wants. In this era, we are the ones that should be doing our own luck and ways to survive.

While this is a permanent thing that all of us will experience regardless of which country we're living. The appropriate counter mostly done by governments is to increase wages. But as someone who earns minimum then you'd still see the difference and hardship of how to cope up with continuous and unstoppable rise of the cost of every goods and services that we're using. Having two jobs might do a big difference or even three which is a common thing that many people have been doing. Are we just going to work to live and eat? or we should live and work at the same while having such balance of everything. It's sad that everyone has to strive for the betterment of our life status and not with social status. Forget about that, those that are still in that game of being showy to the public and want to see themselves higher than the others through their social being, they probably have been done with the increasing of their life status. But as for the people that are like me that still thrives for the better way of living, we're going to get a lot of process and harder way of doing so. My tip is just enjoy the process, these inflations are uncontrollable and we can't do anything with it but to counter it with more hustles, more sources of income or decrease your lifestyle and expenses. Those are few ways of how you can beat it or should I say, you can't really beat it but you're able to minimize the impact of it to our lives.

When the economy of the country you are living is in trouble, there are no easy solutions that a person can take to solve their problems, since if you were to try to reduce your expenses, inflation will be there to raise the price of everything anyway.

And if you try to get another job, you will not be the only one doing that, this raises the supply of people looking for a job, in a market in which jobs are scarce, and we know what that does right? That suppresses the salary of workers, allowing business owners to pay way less to whoever wants that job, as if you were to complain about it, you could get fired and be replaced by someone desperate enough to work for that amount of money you were being paid.

Yes what you said can save yourself from inflation. Avoid living a life of luxury if you are in the grip of inflation. Inflation has increased a lot in our country at present. Due to the rise in inflation, the prices of food items have gone up, making it difficult for the common man to live. So I am currently trying to do a part time job along with the job. I currently spend less than I earn, don't spend unnecessarily. We must save for the future, so I don't put money in the bank to save, because money loses value due to inflation. I invest my savings in bitcoins, which will benefit me a lot in the future.

This one!

You wont really be putting up yourself on such trouble if you are really just that sensible on the things that you are doing. Living on a luxury life even if you are just an average earner would really be
just that a suicide on having this kind of approach towards to your spending. The main thing you should really be having in mind is that you should really be saving up money for the future.
Emergency funds plus having those funds which are intended for investment and business on which this know that these things could really help you out with financial trouble but of course it would
really be just hat depending whether it would really be a successful one or not.

You cant really be able to know though unless you do try but we know that there are people who are really that skeptical on making out such step just because
they cant really be able to afford on losing money.

I think your suggestions are very helpful! In addition to cutting expenses and focusing on priorities, there are several other things we can do to weather economic hardship. Building an emergency fund, even with small contributions, offers a vital safety net for unexpected situations. We should also look for ways to increase income, whether through side hustles that leverage our talents or confidently negotiating a raise at our current job.  Tackling high-interest debt is essential, as it can significantly drain our resources; strategies like the "debt snowball" or "debt avalanche" can guide us toward becoming debt-free.  Shopping smart by comparing prices, using coupons, and considering secondhand options saves money. Finally, reaching out to our community provides support, access to low-cost events, and potential resources from family and friends during difficult times.

When there is an economic downturn, it becomes difficult to get regular income from a job. At that time there is no chance to get extra money instead job loss situation is created. Typical man can do in this time of inflation is to reduce his expenditure. It is too difficult to reduce expenses from what he needs in his daily life. Those who belong to lower class families cannot afford to spend too much money because they need some basic things which cannot be left out. The minimum necessities for survival must be purchased.

The issue that will receive the highest priority in these discussions is cost reduction. But an individual cannot protect them from this economic downturn by simply cutting costs. So he definitely has no option to increase his income.

In order to escape from this black claw of inflation, I should emphasize a few things.

Those from lower income families must cultivate in their backyard or fallow land which will reduce their expenses and give them a chance to earn some extra money by selling crop. Additional income areas should be explored. Need to work harder for some time. So that they can get more money than their specified income.

In the long run, investing in bitcoin will definitely not disappoint you because the value of bitcoin still has a chance to increase. But I want to ask, if you don't have any savings in the bank, how will you deal with an emergency? For example, you bought bitcoin for $73k and now bitcoin is trading at $65k, do you sell bitcoin and accept the loss? And according to you, in just 2 weeks bitcoin has lost more than 10% of its value, so compared to monetary inflation, which will cause greater damage in the short term? Not having savings is really something that needs to be reconsidered because bitcoin doesn't always increase in price to get you more money.

I have never kept money in the bank, I do not want to keep money in the bank in the future. I have exta fund for emergency needs, I rear cattle at home. I have invested in Bitcoin for long term, short term investment has less chance of profit. We live in joint family, my family father brothers earn, we help each other in urgent need. So there will be no need to sell bitcoins for urgent needs.

wow that's nice to hear, it's right that we only use the bank to save emergency funds but if you want to earn money from the money you save, try to diversify the amount that you have, it's necessary that what we save in the bank is only for emergency purposes because we know that the interest amount we get there is very small, it is good to use it especially now that most of the shops or services we go to are pure cashless payment. As for profit, having an investment is the key but we should know where we are putting our money and we need to think carefully before doing it, We also cannot invest all our money in crypto, we need other types of an investment that you can put your money into, like real estates and golds, not just in crypto.

Human wants are insatiable as we don't get enough of what we want, naturally human tends to spend more when they earn more and it is not a bad practice so far as the income is coming steadily. But it is also good to cut our expenses In times of economic challenges like this because it will make us not to feel the impact that much and we will also have surplus in our Treasury. Every successful person in life make adequate plans about their income because if you don't plan how to spend your income then obviously you will not be able to achieve anything memorable in the future because you basically spend all your income without making plans for the future.

In summary, if a man's wealth increases, their want increases as well because let us consider a scenario where you earn very little and every thing you do will be equivalent with your earnings so when your portfolio increases as well you well also be involved in things that will match your current status as well so we should just increase our earnings and make sure it comes at regular intervals then be it inflation or recession, it will not affect you

If the economy is bad, and there is inflation, that means that the prices of goods and services are high, yeah? So, when you take, let's say $10 to the market it won't buy what it used to, yeah? So, how do you expect people to cut down on their feeding, when they're not even feeding properly?

This just reminded me of something important in Economics, The Vicious cycle of Poverty. You see, this phenomenon explains a situation whereby a country is poor because they are poor. Bringing it down to the individuals trying to survive inflation/ bad economic situations, the individuals remain poor because they cannot invest in themselves.

If you want to escape economic hardship, there's a solution and the solution isn't cutting down your feeding so you can save, but it is to invest in yourself as a person. Even though to achieve those investments you'd have to cut down your eating, it may be your own little sacrifice. Investing in oneself opens people up to opportunities for wealth-making, and liberates them from what hardships they are facing.

  Monetary inflation can also be attributed to incompetent leadership in most under developed countries in Africa and Asia and if they are not …then s big part of the population are simply ignored as surplus population and are not meant to consume those counties goods and services on the basis of equality…..which can even include basic needs as food clothing and shelter as in most African countries and India….not to speak of even willing to pay for whatever they consume. You cannot survive a currency inflation unless you're linked to the State and it's resource allocation. If you were under a government a wise and competent government will dampen consumer behavior by decreasing the money in circulation and may even invest that in all town  of resources in particular some line of production and private owned. Thus we see thus kind of inflation is typically a socialist problem and State allocation of resources.
  Be willing to change your life-style so as to avoid the purchase of expensive things and things that are not necessities. And to be prudent with what and when and how you live. Reduce your food expenditures by home cooking and choosing less expensive foods and less processed foods—pork, chicken, vegetables, grains. One person’s fast food meal will equal the cost of one meal for the whole family. Review your entertainment activities—more nights in vs at the theatre, bar, etc. Review home video service contracts—find lower cost options that may deliver similar services. Turn your heat down in the winter by a few degrees and wear sweaters. Analogous strategy in summer with air conditioning. Manage your driving habits—bundle trips so fewer travel miles, practice fuel efficient driving. Refinance home mortgages to a lower rate or smaller payments. Extending the length of a low interest rate mortgage during high inflation is a good thing.

We may all agree that waiting for a raise or a side gig won't solve inflation. This is like covering a gaping wound with tissue. Our dysfunctional connection with money burns a hole in our pockets. We agree on cutting back. However, eliminating nice dinners and useless crap requires ruthlessness. Almost forgotten subscriptions? That gym membership collecting dust? Release them

Unfortunately, surviving isn't enough. We must thrive. Stop focusing on survival and get eager for financial muscle. Learn about passive income, uncover inflation-beating investments, and budget like a military. How badly do you want financial freedom and peace of mind? Getting serious about money is crucial. This requires labor, education, and habit change. It won't be easy, but nothing worthwhile is easy

I have a little savings in the bank, but I never prioritize saving money in the form of savings in the bank because usually I only save money for certain needs in a much smaller percentage. You have good planning in developing your existing money potential, owning cattle and making investments to reach small or large profit levels, because not many people are able to focus on doing that simultaneously.

With other sources of income, we don't need to sell bitcoin when we need money because it's not certain that when we need money, bitcoin will be at a high price. This is a wise decision because you understand the bitcoin journey process so you don't depend entirely on investment for your living needs.

Inflation doesn't hit all part of the world equally and doesn't hit people with different economic status equally. But generally, you need better opportunities and career growth if you want to beat inflation and make your life better (or at least not worse) than it used to be. One way of trying to beat inflation can be investment into something that doesn't suffer from it (like Bitcoin). But that, of course, is often unaffordable to many people. Another thing to do is to indeed review one's expenses and see what can be reduced by either just buying less or by switching to alternatives.

If you are government employee then you cannot increase your salary but in case of private Job you can perform your job for extra hours to increase your salary. In current economic situation nobody can manage home expenses with the help of just one salary so they will surely find another one to increase their income.

If someone is powerless to do double job due to health issues or some other issues then he should focus on minimizing his expenditure and should stop consuming money on those materials in the absence of which a healthy life is possible to maintain.

hmm, I would say if you are working on the multi-skills it will be very easy for you to survive in times of inflation, these multi-skills will generate you a good cash flow, and the earned money from the multi-skill you can use for further investment this way you can make a good money. Now many will say I do not have any skills this is just an excuse if you do not have any skills then start to learn some good demanded skills so that you can make money easily.

Besides this, if you are the one who is thinking about how should I use my money so in my point of view one should divide his/her money into three parts one for investment, one part for personal use and one for saving and it is called money management. All is about management if you have good management skills you can make even more money. DYOR!

Yes that is true other ways of also reducing it is by reducing other habits like smoking, drinking luxurious lifestyle and extravagant spending and many more. All put together can go a long way to cutdown expenses.

But I thought most time a old printed money are returned back to the central bank for recycling. And also most of the money printed got missing some hot burnt. Some are reaped to where they cant be used forever so money printing may just be a way of replacing this ones that may have disappeared by replacing them. Anyways I am not talking about what politicians or government does that causes inflation rather a way for us to manage ourself to reduce the effectiveness of what the government does to us.

I had an opportunity to live with my family before I got a job back then and had a choice to relocate.
Long story short, Upon losing the job some years later, I have thought so many time of going back home to live with my family for sometime until the economic hardship passes, but I haven't come to a conclusion yet, because I believe in careful planning and discipline.

Although, based on my calculations of expenses so far, I wouldn't spend as much when am home, would have more to Invest in BTC or trade as frequently as I would and achieve my goals faster than living alone in an urban city where the hardship is worsening.

To survive my perfect formula so far has been; as a customer buy from a wholesale distributors. As a retailer, be monotonous in business. Both ways ensure more is saved than spent to live better now, despite economic hardship.

Apart from starting to control our expenses, one way is to increase our income, improve our skills so that we can look for additional jobs or also do double jobs, but the second is only available in many rich countries, while in developing and even poor countries it is difficult to get even one job, let alone two.
I tried to check that food costs consume the most of our money, and this happened to me not only because food ingredients increased significantly but in some moments we often bought excess food so that it ended up not being eaten and thrown away and that was a form of waste.
Another way to survive inflation is to start investing with discipline. Investing will later help us overcome inflation which makes the cost of living increasingly high and not commensurate with the salary received.

That can be done with time, and you do not need anything else than just time. Imagine a person who has absolutely no way of making money, could you tell that person to get a computer that can sustain photoshop, and learn how to be a graphic designer? They have bigger things to deal, like where the next meal will come from, they can't just sit down and work 8 hours a day on photoshop. I can, well I won't :D But I can, because I have a job and after my job is over I can spend anytime I want on learning something.

So, poor stays poor because they have urgent needs and can't work on themselves, they do not have the time for it or the capital for it neither. This is why it's quite important to get better at things with time.

I agree, for those who do not have a family or do not have family burdens, investing in themselves to improve their own economy will be much simpler. But for people who have families, the first thing they need to think about every time they wake up or at the end of the working day is how to provide enough living needs for their family. They won't even have enough time to think about themselves, let alone spend time and money investing in themselves. It seems easy to say, but when we are in that situation we will understand that doing it is never easy.

Sharing solutions in life means we need to share what we have experienced, not what we have not experienced and just from our thoughts. I see that most people are just speaking their thoughts, there are very few people sharing their real experiences.

Even if that's the case, it's a better thing to still be prepared for it and know what to do when the time comes and inflation is just too much too handle. I can agree with you about the investment part, there's no way that you can beat that one, investment is growing with the inflation and more so basically you're saving yourself the headache of having more fiat that's less valuable than last year. I see the sentiment that it might not be affordable to some people but with bitcoin, I think that it would be not a problem because they can just easily buy little by little and at the same time make it so they're slowly accumulating, what matters with bitcoin after all is you're investing, you might not see it at first but when you get used to investing in bitcoin through DCA or any other methods of investing, you will eventually notice that your investment is growing in price and wouldn't you know it, you've made a profit.

In practical terms though, I think just reducing your expenses on the luxurious stuff would be able to help you the most, now I'm not talking about the most minimalist living that you can be but you just need to be spending less and that the money that's coming in would be more than what's going out.

Who issued the curse if I must ask and who will break it? I don't see it as a curse but a manmade/man-caused problem that is plaguing the economy and welfare of people in an economy. Inflation and economic hardship are not even the same thing because a country could be facing inflation but still not poor/economically challenged, and with the right handling and policies by the responsible government, they will get out of the woods pretty fast. In many cases, even when inflation is bitting hard, the level of unemployment could be so minimal. In this situation, if it is a good country where the system is well planned and working fine, the citizens/residents could only be feeling the pains of paying more but would still have the money to pay for their needs and also have excess to save.

You can see in this situation, there is no economic hardship, but people mistake inflation for this which is not an automatic correlation. Above all, if there is inflation and/or economic hardship, we should try to live within our means, and if we feel the economic inconvenience, we should increase our source of income.

It is not easy for anyone in this economy irrespective of  how much one is earning because the standard of living is very much expensive and I think one needs to adjust in the way of spending to meet up in this economy. For those that their earnings are not much it is important to stop some certain lifestyle  and remain discipline,  it will help in saving more money for one to be able to meet up financial demands  in the future.

During hardship like this it is also good for one to try as to get others source of income. There are so many things to engage into to generate money, doing this can also help one to survive this difficult economy.

the best option out there if we are coming from poor country is to seek opportunity oversea that is through the legal way, by honing the skill we might have such opportunity remember that skilled people always paid a ton because their sole existence could contribute to the field that they are talented and skilled in.
if the country is poor in the first place, just holing up in there not trying to find another better opportunity might seem to be a massive waste and personally I don't think thats even good for us in the long term.
finding opportunities overseas might be tough, heck, even freelancing is already tough as it is to find client from overseas but at least its worth a try, it might be life turning decision.

Based on my experiences, since I am just an average guy, the need of extra source of income is a must to survive inflation and economic hardship. Cryptocurrency is also one of those options or maybe if you have freelancing skills you can earn dollars which is for me much stronger than most local currencies in third world countries like mine.

Bringing down the value of goods and services can add value to our currencies I agree with that, but it cannot be easy to do in a country where there is inflation and the country is mostly dependent on importation from various countries which stable economy and stable currencies.

 Mostly salaries are always not enough to care for civil servants needs. In my country, you can never depend on your salary because it will not be enough to cover your needs that means you cannot be able to save from it, unless you have ways of getting money outside your salary.

Exactly. You need extra income to be able to survive this inflation and you can be able to get this through learned skills and tech.

By only having one income, of course it will be very difficult to survive inflation. Of course we have to think about other sources of additional income so that we can survive inflationary conditions and if we don't have the skills that can generate additional income, of course we have to learn the skills that suit our wishes. us and when we become experts in this field of course this will be able to help us to have additional income of course this will help us to be able to survive the inflation situation.

If you can make a profit from crypto, of course this will really help us to have additional income and by getting dollars as you said, of course this will increase the income which can be used for the needs we need during inflation, because if we only Having just one source of income will of course be very difficult to meet the needs we need and it is possible that we will have to save money because the income we have will not be enough to survive during inflation.

Everyone needs additional income if they want to live well, especially when the responsibilities we have are too big. Inflation conditions will affect many things and if our income is small it will actually be problematic because meeting life's needs will become increasingly difficult. Additional income is an effort that we can apply to investment and business development because the more income we get, the better life we live. The problem is how can we reach the stage of seeking more income because in inflationary conditions it will be much more difficult for us to implement.

Therefore, we must have a plan in how we live our lives, how we can prepare ways to earn more income. This preparation must be done as early as possible and it cannot be done when inflation occurs, so people must have preparation in carrying out their lives, especially when it comes to financial matters.

And getting additional income is very important because the economic situation of our countries now deserves more than one income, When you are a family man, it is even more challenging than for those who don't even have a family to take care of, The world is dynamic, as we all know and we have to follow it as it changes. Inflation has affected so many things from the beginning, and we have all experienced the way the price of commodities and services is going up. and the amount of money paid by the employers is usually very small, the purpose of it won't even meet your needs. If the idea of multi-earnings comes from you, you can have an actual job and then make an investment so that you don't get yourself worked up just because you want to make money. When things turn out this way, you have to plan and have a map of direction to give you proper guidance in making your decision.

*Learn how to save
*Find other jobs or side incomes
*Spend wisely
*Lessen luxury spending
*Be practical
*Invest or make a business

No matter what are the things that you would gonna tend to do then it would really be something that needs to be at least realistic or something that you could be able to attain.
Since we are wary on how this shit economy behaves or works then it would really be that a common approach that you would really be needing up that kind of adjustment
on which this is something that you would really be needing up to do so that you wont really be finding yourself on a hard or tough condition when things
becomes even more messy. You wont really be able to survive if you wont really be finding up ways or methods that be progressive.

It is very important for one to have another source of income and not to keep depending on just a source of income to survive in the crypto market. The inflation is one of the problem many businesses do face at this time making things to be difficult but everything can be regulated if the government can come in and try to step down prices of goods and services. There are businesses facing challenges and I'm inflation could make it very hard to make profits. One of the ways one can survive especially if we don't have a business we own is by saving for better opportunity to get some good amount of money to start a business.

We have been dealing with inflation for several decades, but by God's mercy, we are still able to survive because we ourselves are finding a way to survive. We don't let it be the only source of income that we can do; as long as we can find a way to earn something, it's fine with us.

If we have many skills, it won't be difficult to find a way to take advantage of the skills we have. If you don't have any skills, there is still a way because, even if you don't know anything, if you are determined, you can sell because, in the first place, it is still noble. which can be considered a sideline.

Being a father who has big responsibilities towards the family is much more difficult because currently earning more income from the work they do seems much more difficult. People experience layoffs at work and it is difficult for them to find new jobs in bad economic conditions, which will affect sources of income resulting in difficulty in making ends meet.

If we don't have a life map in planning our lives then in conditions like this it will be difficult, workers' wages will also not be able to cover the large expenses because many commodities are increasing so rapidly. If the source of income is unstable it will make life more complicated and we will be faced with much bigger problems. Large responsibilities to the family that we are unable to fulfill will create much greater pressure and responsible men must have a solution to deal with this condition.

Having several sources of income will of course be able to help us to survive inflation, but we also have to be able to manage the income we have well so as not to use the income we have uncontrolledly so this will still make it difficult for us to face inflation because No matter how much income we get, if we cannot manage it well, of course we will still have difficulties in various situations.

That's right, if we have skills that can give us income, of course this will be very useful for us to be able to increase our income, but if we don't have skills that can give us income, of course we have to be able to try to find a field that we like. and study it well so that we can survive in an inflationary situation.

If there is inflation, there is going to be high cost of items and that means you have to improvise as a person and you have listed some of the best ways but I think your solutions are a bit awful and harsh. You don't cut down the rate at which you eat but you can go for alternative of some food that you know are expensive. If you eat meat very well and it's expensive, you can go for alternative like fish or even chicken. If you used a particular type of oil, there would be alternative that will b less cheaper and very quality but maybe the brand might no be popular like the one you use often.

When there is high cost of things, you also need to cut down on things that makes your bills expensive, if you the kind of person that do plenty of give aways and spend money recklessly, this is the time you close those typebpf lifestyles until everything becomes normal and also learn to invest for times like this.

Just as pooya87 nail it, that cutting down ones expenses generally is the only solution not only food in particular as used by OP, but perhaps I will always  agree with the fact that whatever hardship a state and/or country faces is the result of poor governance or poor governmental policies.

A lot of countries battle this same act of intentional printing of money just to fill up the gaps in the system hence for the people not to put all blames on the government for not taking good care of the citizens, so the tend to increase the number of paper money (fiat) thereby causing more inflation indirectly.

It takes only a philosophical government (critical thinking government) to put a countries monetary policies to a favourable condition towards the citizens, a lot of money goes into unnecessary things while the real problems of the people remains unsolved, using my country as an example; some times I do notice that a new governments agenda is always geared towards building new roads (infrastructure) mean while the have other basic infrastructures that sre necessary than renewing an already existing road, hence must uses such opportunities to launder a lot of money to their own pockets.

In conclusion, since a one man decision can not change the entire system (government) then it's will best for one to look for alternatives to live a better life like, have another source of income adding to the already existing one or better make investments that can be yielding extra money to ones life in order to cope with the inflations.

Frugality is the only solution in situations like this where, as mentioned, the mismatch between income and expenditure is always a major problem. As you said, reducing expenses is the main way that is quite effective and not too difficult to do but not by reducing the portion of food, because obviously when you make this idea as a way to save then there is a possibility that in the end you will even cause new problems such as falling ill because of reducing the portion of food you need, This means that the problem of food consumption should still be prioritized but not too much too, or the point is not to get used to consuming luxury foods such as going to restaurants just to eliminate hunger because there are still other ways, namely buying groceries at the market and then cooking it yourself at home where the idea can save you more money than going to a restaurant.

There are still other things such as buying something like clothes or other things that are in accordance with your needs without any excessive or wasteful elements in it, and another thing is that it would be much better if you try to build a place that has the potential to make money such as starting a small trade that does not require too much capital, so balance will always be obtained when you are smart enough to handle it.

I agree with this that we must continue to improve the skills and abilities that we have, because this is the best way for us to continue to develop or simply maintain our position, both in the career world and the business world that we are currently involved in. because if we are too lazy to hone the skills and abilities we have, then be prepared to lose the job and business you are working on. In the world of careers, so that our careers can continue to develop, try to become someone who is irreplaceable and needed by the company where you work.

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Food is a necessity, and we spend a lot of money on it every day. And buying enough food according to our needs is one way we can minimize our expenses every day. But I think, so that our expenses for daily needs can be minimized better, and live more economically, we not only have to pay attention to what items we buy, but also where we buy them. Because quite a few people, just because they follow their own prestige, are willing to spend a lot of money to shop at supermarkets, even though if they are able to lower their ego a little and decide to buy their necessities at traditional markets, they can get these purchases at a reasonable price. which is cheaper.

And talking about investment, many people think that one way to survive inflation is to invest.

Cutting down on expenses and looking to increase the flow of money towards you is something that should go hand in hand. You will have a chance to increase your wealth when you get a high-paying job and effectively cut costs on your day to day expenses. Of course, it's easier said than done due to the recent changes in the job market plus the continuing effect of inflation towards goods.

What I did is I tried to expand my skillset given that I'm in an industry wherein the progression is linear. You will literally have to wait for years in order to be promoted or to become senior in what you do. It's a tough industry, and one that I thankfully managed to climb some ladders on, but I still think that due to the very narrow skillset that I have and the very few available jobs in the market looking for the skills that I have, should my company decide to close down for some reason or I get fired, I wouldn't have that many places to go.

I tried studying online and working on side projects to enhance my skill. Luckily, this somewhat paid off and I have a few gigs here and there to support my income. Now I'm not broke by any means, I just think it's not wise for a person to just be contained in one single skill that he knows for the rest of his life due to the amount of people being released in the job market with equal or even more experience than I do.

Cutting down on food will solve no problem, it is simply a case of suffering and smiling or enduring in the midst of hardship. Food is a basic necessity, therefore cutting down on it is not a solution.

During inflation,  salary earners with no significant increase in their salaries suffer due to over dependence on their meagre earnings. During this period, people tend to cut down on so many things that are not necessary, but this is not just enough.  The period of inflation and economic hardship is the time to diversify and look for means of increasing your income instead of relying on one source of income alone. There are so many means of earning more income legally without stressing yourself out physically, emotionally and financially,  all that is needed is the right information. To survive this period,  you must be smart and creative.

What you said, OP, about cutting expenses, especially those that aren't necessary, is correct. Basic needs should still be the top priorities, but in today's time, things we used to consider as wants have become needs as well. For people like us who aren't wealthy, it's really necessary to be practical. Having multiple sources of income is also becoming popular nowadays. Having a regular job and a business, as long as you can manage them, is important, and of course, work-life balance should not be neglected.

What's happening is that the prices and expenses are increasing rapidly, but the salaries of employees are taking a long time to increase.

Agree with you. Reducing food is not a solution to overcome inflation because food is a basic human need. With food we have energy and can think critically, giving birth to creative ideas and innovation. So it is very appropriate to overcome finances during inflation by reducing spending on basic needs. During inflation, consumption continues as usual, then inflation will pass. If we hold onto money and don't consume, the economy will slow down. Don't be too frugal and don't be too wasteful, consume as usual.

Inflation is indeed difficult to overcome because of course when inflation occurs the prices of basic necessities and other goods rise, even though salaries also increase, this cannot overcome the problem of inflation. We must learn from this pandemic. When a crisis occurs, new opportunities open up. So let's be smart and look for opportunities to earn extra income. Because if we are good at reading situations and quick to take opportunities, we can profit when inflation comes. Perhaps one example of fighting inflation is to start investing in bitcoin and gold.

Price goes up every time and because of inflation, some people save money is every time they get their salary, deposit to the savings and let the banks hold for a while but that amount will be the same for months or years just increase possibly but small percentage of the APY, once you withdraw and the price increase the value of your money needs more just to cater the things you want, instead having an investment than staying your money in the bank might save you to the inflation.


One of the common happening right now the inflation continuously rising but the salary still the same the people's needs now can't cater at all for their salary. Which is the economy must need to balance but having a poor government seems too far from reality for now.

I agree with you, food is a basic need for us to survive, then we must be able to fulfill it anyway, if we reduce the portion then it will be the same as we will be difficult, but of course the basic needs depend on our income, if our opinion is sufficient then the needs must be prioritized. Because there are only people who have enough income but they always have difficulty when in the middle of the month including their food, in my opinion it is because they are not good in managing their finances so that they occasionally experience problems when they cannot manage their finances well.

Instead of reducing the portion of food needs, we better reduce our curiosity with what we want such as wanting to have an asset or property that has a fairly high price. True what you say, there are still many ways to be able to make money, especially with the current development of technology including social media that can be utilized, and if we can use it it can make money.

Nah! All that won't do anything. In fact, it will bring more stress and unhappiness to anyone practicing it. What's the essence of working when you can't feed well? People move from their work place to another so they can be paid better to enable them afford the basic necessities of life. The remedy to the issue at hand should be for one to get another source of income and expand one's frontiers. Limiting or restraining oneself from eating well won't save one any more. It will endanger one's health, if anything. Get extra digs. That's the way to go.

There are expenses that can be reduced or cut down in the case we have to economize, however when it comes to food there are limits, otherwise you could begin to starve and face some health issues because of your actions.

But even then, inflation grew so fast that even those measures are probably not going to be enough, so people will have to find a way to increase the amount of money they are taking home each month, but this is not easy to do, especially when there are still many countries around the world that are suffering the side-effects of the pandemic.

It may not be easy to find new resources and get out of your current situation, but sometimes new sources of income may come your way. You need to stay away from anything that will affect your health. You may find a source of income and your circumstances may change, your health is more important than many other things and you should be careful about it.

As things get more expensive economically, the quality of life goes down. And a lower quality of life leads people to give up many things. Remember that you need to eat in a way that does not harm your health. Cutting back on your basic food needs may not be the right decision.

In theory, if you could lower your life cost, you should be able to do it. But, there are two situations where you cannot, and that makes it even harder, first of all if you are already at bare bottom, like the cheapest rent you can find or the cheapest food you can or not even buying anything new, just living at a bad home with bad food and not spend a dime, and yet still not in profit due to some economical issues you have, then yeah there is nothing you can do about that.

Secondly, there is nothing that you can do if the expenses appears on their own, maybe some back taxes thing that suddenly government asks, or some medical bill, or some part of house breaks down like laundry or dishwasher or fridge etc, and you gotta pay.

Personally, the present matters the most to me when compared to the past and the future which is why I always try to enjoy as much as possible without thinking too much about savings etc.

It's definitely a risky way of living for sure, but the rewards are absolutely worth it if everything goes your way. This is one way of living life op. Just my 2 cents.

Whenever inflation begin to flow in a country, all you need to do is to reduce your expenses so that you will be able to survive through out the years the inflation will going to flow, because if you fail to work on your expenses during the inflation, there is no way you can escape the inflation and the hardship in the country. If you want to survive in this hardship that is affecting people globally, look for business you have idea to invest your capital so that you will not be depending on your salary alone, because salary will not help you to survive in this inflation. Disconnect yourself from people that spend their income anyhow without thinking about tomorrow, and if you continue associate with such people in your environment you will never survive in this inflation.

This is just sad reality that we need to address. Poor people are getting more poorer while the riches are getting more richer day by day. This poverty of a thing is a self perpetuating that is very difficult to break out from once you're in the circle. We tend to blame the poors for not making plans without realizing that you need money to start making more money. Wealthy people have access to every resources that help them to make the most of their money. People struggling to meet their basic needs don't have resources to focus long term goals because their situation is just like that of chicken and egg. They need to improve their situation in order to improve their financial literacy but that's not possible without improving their financial literacy. You can see how confusing the scenario looks like. There is a need to address the root causes of poverty in our society to maintain balance and control inflation growth.


Do you think reducing your expenses is an option here? When inflation strike, your income will barely get you half of what usually get with it before and by reducing the expenses, you mean reducing your daily consumption. It's like attempting to starve yourself which is not ideal. The best thing to do is to increase your means of income through other alternatives. At this current era we live in, I don't think people still rely completely on salary to survive unless you intend to be in debt until your retirement. Salary is not longer sustainable and that's why people are now turning down on salary jobs and prefer to be self employed.

I agree with you. By reducing our daily or monthly expenses is indeed one of the possible options, however, this will not be a long-term solution to overcome inflation. In the long run, the more inflation rate we have face, the more we need to reduce our expenses until we are no longer be able to purchase the same quantity of products or foods sooner or later.

The best thing to do is to find another source of income, a job with a much higher pay rate, or at least find a way to have a stable source of income that can help to pay for the daily expenses we have.

For some people, what you say may be considered strange because you don't really think about savings and other important things for the future. Because of the many people I know in my life, many of them are currently continuing to prepare their own savings and investments for a better life in the future. This means that most people now forget their past more often than their future, which still needs to be well prepared through various things that can have a good influence on the future.

It is not impossible to live life as you say, because whenever there is income from any job you can enjoy it immediately without thinking about saving some of it to be used at another time. But in terms of living a life like that, everyone must have a regular income every day so that when someone doesn't want to save to achieve something else in the future, he will not face difficulties in his life because there is still regular income that can be used and relied on by himself.

Proper management about  your finances and with having that control with your expenses on which this is something that would really be needed if you are someone who do mind about those economical problems
that we are really that facing specially now that we are living in a world where these type of problems is something which is really that inevitable. This is where people would really be able to think up
on getting more another source of income so that they could really be able to patch up on the things on what they should really be gonna be needing to patch up rather than on making yourself that
be sticking or minding about with a single job on which sooner or later you would really be finding yourself on having that struggle on making yourself a living because it isnt
really that enough anymore on supporting your needs or whatever you do really need for you to live.

From my own Theory inflation is caused by lack of government handling the situation of the country economy so I believe that that is one of the thing that causes a hardship in the country so to handle it or to control it in a country even the increment of salary cannot make the equation to be balanced or to be on the statistic equilibrium can of balance so the only thing that they can solve the problem of hardship or inflation in a country is when there is employment opportunity and there is also a regulation of commodities by the government so if that can happen that country will you survive from inflation.. secondly a creativity and innovation can be also be a pathways of surviving of inflation in a country because being creative can also be a means of income generate

Do you know during inflation it is not easy to start up business, inflation it is difficult to manage business to stand well. It is even Inflation that most business collapse. Wel, if you have a good capital to start up business it is not a bad idea. In inflation aside business plans their are other things to learn that can generate incomes, things that you don't have to start up with your capital  . There are so many skills people can go for without putting a capital.

To survive in inflation is just to increase your incomes and reduce the manner at which money is been spent. If people can get more source of income it will help in the time of inflation.

I agree about having more side hustles. And if this side hustle that you've found can make more money than your day job then test until a few months if it becomes stably earning more than your day job then that's the time for you to decide whether to keep it and leave your day job and turn this side hustle into full time. And with that, you can find another side hustle and the cycle repeats and you get more people to trust for that side hustle but that's the hardest part.

It's not only about cutting down expenses; most people even spend more in a month than they receive.
I believe if we are able to acquire new skills and practice them as a side hustle to add to our monthly salary, it will help.
I know someone who, before the end of the month, will finish his salary not because he overspends but because of the cost of living, and his salary is not even enough for him.
The economic system also has a way of helping us cut some expensive costs. 
Employers are not even helping matters because their pay is very low compared to the job you offer. And as a salary earner,one should try as much as possible not to exceed two months salary for rent. To also add up, we should try to buy food items in bulk; it will really help cut down on expenses.
 

Not all are worried especially if you are rich because even if you lose some of your money you still have more left. We have what we called personal economy of an individual and there is also a general economy of a country which in order to make it better all must work together. It is only sad to know that some people are selfish and there are some who don't care at all about this matter but what is funny is they can complain if they experience a difficulty and even blame other people and the governments for this. When an economy of a country is down, not all people are going to suffer, especially if they have a sufficient fund to support their needs.

I don't think some people are selfish, maybe there's a reason behind that? I mean who is going to cooperate if the people in the government pull you down? It's true that when a country has a problem, everyone is affected but not everyone can complain because they have a source of what they need, they have a privilege in life because they worked hard for it, it's the same now everywhere you look, we are striving hard to survive and we're all experiencing survival mode in our economy but cooperation is still not lost, especially if the high officials can cooperate and listen to all the grievances and requests of the people.

when farmers in our country are struggling to grow crops, it's going to make economic hardship worse and then food supply will also be affected. most of the complaints are due to the government policy and climate. once we are in this situation already, the hunger will turn neighbors to neighbors and people will steal for food.

surviving is going to be easy iff there is just a food supply. the government can subsidize when there is just a food supply but if none then we are on our own. i think there is the need for everyone to just plant something before it's too late. maize or some potatoes.

I'm not an economic expert here but the only thing we can do for now in order to fight against inflation and survive is to change our lifestyle in the simplest way especially if we are just a minimum wage earner. We also have to multiply our sources of income, invest more if we have money today, and not wait for the situation that we are in the struggle with how to do it especially if we are jobless. Perhaps, there are a lot of opportunities to earn money, we just need to leave from our comfort zones.

What you said above is correct, this is what everyone needs to do, in order to survive the inflation that is played every year by the government,  If we are not good at managing finances and increasing our income, we will certainly lose out on these life circumstances.

What you say is also true, if we have more money, it would be better if we invest the money in this way to protect the value of our wealth from inflation and Even if we invest by choosing the right assets, of course we will also get profits from that investment.

When I see this line of thought, it simply remind me how people are oblivious of the main problem confronting majority of people especially in third world countries which is people being heavily underemployed. In most of these countries, salaries for graduate job is hardly even enough to meet basic needs, in such situation how do you cut down expenses? Do you want to starve or sleep on the street? I know some countries where the minimum wage cannot afford a bag of rice even without the other ingredients needed to prepare the meal. The economic situation in most countries is terrible, the reason people are massively migrating to Europe and the US. I think the international community must urgently work out a universal survival consensus where all politicians must be forced to sign so that when they assume office, that will be their template. It has become imperative to adopt this method because economic crisis in any country of the world have direct impact on other countries.

The simplest action to do with this case is to live within your means since if we exceed on our spending's and leave a luxurious life since we always think about we only live once then provably we really suffer for that attitude.

But if we know how we can asses or handle well our finances and if we see that we are always negative on monthly budget we allocate then find another extra job that can give us extra funds to use since if we just extend the efforts we made for sure we can live without getting any problem on how to find food everyday. Investment is really good and its crucial for people to find legit one so they should do a lot of research to know what's best for them and what is bad investment for them to avoid.

Sometimes you don't. As in you do go deep in debt, why do you think the entire world is in trillions of dollars debt, I mean who do we all owe this debt to? A lot of people all around the world all owe debt to banks, in trillions, you think that just happened overnight? Most of us have a lot of debt, and sometimes we fail to pay it.

The global default rate is rising, which means that more and more people failing to pay their debt as well. Just to give an example, I need about 1200 dollars to survive, I make about 900, meaning I am in minus 300 every single month, that is just one single person, one example, now multiply that with billions of people all around the world. Of course there are ones who survive, but don't feel bad if you can't.

Managing finances is very important amidst inflationary conditions and most people find it difficult to deal with the impact of inflation because they do not have a stable income. To deal with inflation we must be able to adjust expenditure and income because if the two are not balanced it will have an impact on their life journey. Facing inflation is not when it is happening because if at that time we just start investing it will not provide a solution because we will face all possibilities of an increase in goods.

That's why it's important to have a way to manage finances, build investments and develop a business because this should be done long before inflation occurs. If these three things are done when inflation hits, I am sure people will find it difficult to find solutions to solve every financial problem that occurs.

This is where most people have problems; they channel the blame on low resources instead of tackling those unnecessary wants they spend on and focus only on their basic needs, which is what can give them a healthy life. 
 
Someone can still earn a small amount of money and live well compared to someone who is earning a lot with much higher expenses, which ordinarily are not necessary, and the more people earn, the more they will increase their expenses, which is one of the reasons why they don't have savings.
 
One thing is to earn money; the ability to manage it properly will determine what that money can do for you.

Just for example with the US debt, it's said that it keeps on rising to $1T per hundred days and that certainly a lot without any other effort at all.

Thanks to inflation, purchasing power of $900 has decreased over time while before it's so much already. This time, it's not almost enough for a normal living guy and how much more with those families and kids that they need to provide things as well.

Currently everyone has started to feel the movement of inflation, another thing we can do independently is to use agricultural land both to get results from the agricultural land and also for personal kitchen needs, because currently the prices of all goods are rising, such as vegetables, rice and The price of gold has also risen extraordinarily, plus people are spoiled by credit goods, even though income and expenditure are not balanced, but society seems to be affected by discounts even though credit goods clearly narrow the economic space. Another thing is that due to inflation every year there is an increase in employee salaries, job opportunities are limited and the government is currently unable to provide other solutions, the only thing that exists is social assistance which does not last long.

When talking about increment of salary can’t help economy hardship or inflation but rather still increase the price in market the more.when tackling Surviving economic hardship requires a combination of practical strategies and mindset adjustments.for instance Budgeting,Create a realistic budget to track your expenses and prioritize essential items.
Emergency money, Save up an emergency fund to cover unexpected expenses or loss of income.

When also looking at this we have to reduce expenses, we need toCut down on non-essential expenses such as dining out or subscriptions. And a very important one is debt management,Prioritize paying off high-interest debt and consider consolidating or negotiating lower interest rates and which is bad in a system where there is hardship in the economy. Again we can also look at side hustle to make extral money to help your self and not relying on only on means of income but by diversification of ways of making money in the economy when there’s a hardship in the economy.

There is also a lifestyle inflation and those that are earning with a higher amount also increases their way of living. It is happening to many but if you do notice this happen to you after you've earned big then you need to lessen your unnecessary expenses because you're dealing with a lifestyle inflation. Just because you think that you're earning high and you can sustain that lifestyle doesn't mean that you have no point in life that you're going to get less, no, it doesn't go like that and that's why you need to live frugally and only spend for necessary things and remove all of those subscriptions that you don't really need. While for those that earn less, they are prioritizing the expenses that they need in their lives and that's why they're able to live well with it because they don't have much unnecessary spendings.

Inflation is there and won't be gone and the only thing we do is to do something that will allow us to go along with inflation and that's right, we need to earn money, more money. That's how we fight the inflation and if you're earning more then you'll be able to invest as well and that's going to make your money work for you and eventually, you'll practice it and the principle that you're having by living frugally, investing and minimizing your expenses will help you achieve financial freedom but you need a lot of work for it.

Government policies keep affect people even the farmers increasing the price of goods and services.
If the government could pay subsidy for many of the products that we are using especially for the farmers and people that there jobs depends on the economy growth, things would get better soon. Something inflation has been one of the problems why the price of goods are becoming very expensive and when people an not bear it anymore, it will lead to more of cime in the society.

When the government cannot issue policies that benefit small communities, of course this will make it very difficult for them to survive with the prices of every good and service increasing while the community has difficulty in earning enough income to meet their needs, providing subsidies to the community will indeed be able to help. restore the economic condition of society and if we always hope for subsidies provided by the government of course this will make the burden on the government continue to increase and it would be better for the government to issue policies that can control the prices of goods that can be reached by people with low incomes so that they do not have difficulty in fulfill their needs.

This inflation is our problem for several decades, and we can overcome it with the mercy of God as long as we are strategic people. And besides, there are many ways that we can survive in a time like this when prices are high.

All countries are also facing this inflation, but the number one thing that can somehow do it is that if the people sitting in our government, the officials, are smart and good, for sure they can somehow lower it if they find a way.

Better management of your expenditure and increasing the source of your cash flow are the possible solutions to survive the inflation. Just do anything, whatever it takes to ensure you have money left to spend before the next pay day. There is no way we can stop this from happening cause it's government and policies are the actual contributors for any kind of inflation.

That's right, in any case and in any situation, management is the most important aspect that must be owned and applied by everyone, especially when it comes to finances in life, plus inflation is always a big problem for everyone, of course everything comes back to Moreover, for each of us, other people will not care about whatever we experience because they also experience the same difficulties. So we are the ones who have to find smart ways to overcome the problem of the increasing need for life, one of which, as you said above, is doing whatever can save our finances or expenses.

Reduce your lifestyle and learn to identify things that are actually not important to buy, then spend that money only on things that you really need based on careful consideration, and apart from that, always try to take advantage of every opportunity, which means for example you If you have a smarter way to reduce expenses then yes, do that, for example planting something or vegetables in the area next to the house that can be consumed without having to buy it at the market, of course there is always an opportunity as long as we can take advantage of it.

The solution is not to increase salary or wages but the reduction of prices of goods and services in the world is the only Solution to this high cost of living and the inflation. Form the way I understand it, this is weakness from the manufacturers companies. Because whatever increase in the world it caused by them. It is from them that the price is of things go up to the the wholesalers and from wholesalers to the retailers and there to the consumers. So if the government give palliatives or increase minimum wage in their various countries, it is just like a waste of time.

Cutting down your spending has nothing to do with the high cost of living. In this present economy in the world, only one thing you purchase would bought 3 to 4 things in the years past.

I think you don’t really understand the main meaning of inflation, because if you do, you will not see the fault of the manufacturers or companies. Because, inflation simply means the general rise of goods and services, even if you can reduce the cost of goods as a manufacturer, you will only lose because if the goods can be reduced, then what of the service? If you don’t know, let me explain. Goods are valuable items that are being sold or purchased with money. While, services simply mean the efforts and time that a person or an individual gives in order to work so that he or she can be paid at the end, which is wages or salary, even if they insist on adding more wages or salaries, it should be due to inflation because everything will go higher and more expensive than before.

So if it is based on economics, the only and most simple way to survive the current inflation is to invest in a scheme or business that will skyrocket just to gain more profit and to save yourself from suffering, or just look for a way to increase your income in such a way that you will gain more than before to sustain your needs and that of your family. These two are the best ways to survive inflation, but not by reducing the current rate of stock in the market because it will cause a breakdown for the manufacturers and that will cause a great breakdown to the economy.

Well, it's not always like that and manufacturers don't increase the prices of their manufactured goods without any reason but they increase the prices when the cost of manufacturing increases. You need to understand that manufacturing companies have to buy goods and materials as well that they use to manufacture their products and then sell them to retailers or store owners and then those retailers and stores sell them for a higher price along with their profit and all the costs.

The reason behind the rise of inflation in a country is its bad economic conditions and economic conditions can only be improved by the government, they are the ones who need to make plans and do things that would make the economy better and more stable so that inflation within the country can reduce over time and people don't face much problems.