How has inflation affected your savings and investing?

[Dread Pirate Roberts]

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Well I save in various types of assets. like stocks. deposits and properties and only use the money for personal and entertainment needs. and not interested in expensive goods. so I think inflation doesn't really affect me that much at the moment. and I think the most important thing to deal with inflation is to choose a savings instrument that keeps the value the same. may have an impact on people who do not do so .

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[michellee]

So far, my cost does not yet increase significantly and I can still control my monthly expenses and do not have a problem with that. But I prepare to reduce some things that I think are not too necessary to my family so I think I can save a couple of dollars that I can use as a reserve if I need urgent money.

On a monthly, I try to save at least $50 in my saving and my crypto investment so just in case, I can sell some if I need more money to cover my bills or the other expenses. It is hard to admit, but we can only prepare ourselves if the cost rises because the government adjusted some products.

[palle11]

There are nothing in particular that you can do on this. You can save if you have left but you can't save when you have not taken food to your belle. If you don't enough with good diet, you are likely to have low immunity exposing your self to bacteria, virus and all kinds of infestion including covid-19. You can't cut down on expenses when you are already underpaid or not paid at all. Generally, life is now difficult across the land and inflation is not stopping anywhere.

Each year inflation keep on rising and as a human we don't have any other choice to do than to deal with it and the thought of cutting expenses were one of the way to cope up with the constant rising of inflation. But sometimes cutting expenses is not applicable especially if the primary commodity of a family has the highest amount expenses monthly like the food. Due to inflation the portion for savings and investment has been cut also to meet the primary needs of a person.

There are certain things that are important and not to be looked away from. If cutting down expenses is to take away the concern of our primary health, it means we have more bigger troubles in our hands. We open our health to infestions if we don't take precautions about them and the result is the payment of high hospital bill to treat ourselves and by then we still in same place or have lost more to our health. Therefore cutting down should not make us susceptible to health bad practices that will endanger our lives.

[jrrsparkles]

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Inflation started to eat our saving that is the actual reality in most part of the world, from food items to expensive luxury things the price hiked over 10% in this year and its expected to increase further in my opinion but I guess there will be a shock in the demand and supply for sure in the near future which makes the things more difficult so be prepared to face it.

[Sanugarid]

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Due to inflation, I need to save more than I consume since the price of goods and services is gradually increasing in which the purchasing power of our money is decreasing as well. Inflation affects all aspects of our life which is why it's much better to invest your money instead of saving it and placing it in the bank. Interest rates offered by the bank are not really worth it compare to the profit it could yield when you invest which basically doubles the amount of your money.

[King Khaizan]

The way to deal with inflation that we can do is invest. There are several capital market instruments that can be used as investment options.

One of the most popular capital market instruments as an investment option is stocks.

Stocks provide benefits that come from dividends and capital gains. Dividends are profits that the company distributes to investors that come from company profits. Meanwhile, capital gain is the profit from the difference between the purchase price and the selling price.

[xSkylarx]

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Due to inflation, I need to save more than I consume since the price of goods and services is gradually increasing in which the purchasing power of our money is decreasing as well. Inflation affects all aspects of our life which is why it's much better to invest your money instead of saving it and placing it in the bank. Interest rates offered by the bank are not really worth it compare to the profit it could yield when you invest which basically doubles the amount of your money.

Agree that you are spending far more money than you were previously. Almost all of the products cost twice as much. But when we talk about inflation, the first thing that comes to mind is those who are less fortunate. I am in a better position now than I was before, but I can really relate to how difficult it is now that prices are higher and it is difficult to find money. I know there are a lot of people these days who can barely eat three times a day, so I don't save much, but I do help people in need as much as I can.

[zanezane]

I don't think that inflation has affected any of my savings or investment yet, wouldn't be worried too much about that one, pretty sure that I won't feel any of that because my investments and savings aren't in fiat.

[irsykes]

Inflation is really kicking in, the cost of things are getting really high in the market and its not even december yet, its effects are evident on the price of food stuffs, transportation, electricity bills, gas bills and others. How are you handling it and how has it affected your savings/your percentage for investing (if you have one)?

Have you had to cut down on your expenses so as to maintain the percentage of your income you allocate to savings & investing?, Or you have adjusted the percentage for savings and investing so as to accommodate and maintain your standard of living?

Usually in home i who cut down my expenses. Because this time, my income really affected not only by inflation but pandemic too. But i think not only me who face this and in this world there are more people who suffer too. That is why i keep grateful as long i still can save money for future, daily needs for me and my mother although not much spend in outside or do hang out or anything like that. To get entertainment i usually only play mobile or pc games.

[verita1]

Since I live in a country with inflation, I have already learned to deal with it. I live in Venezuela and I don't have money in my bank account until I need to pay my bills, that happens every week. I deposit some money and do my expenses and repeat the cycle.

This technique made me show that I can save, invest and pay everything I need and of course believe in bitcoin and cryptocurrencies to get out of an economic crisis. In addition to having plans for the future with my investments.

[Kakmakr]

I have not had a pay increase in 3 years, so the inflation has gradually caused me to cut back on luxuries and entertainment expenses that I had 3 years ago.. just to keep the pot cooking. If I was living on the interest on my saving, then I would have struggled.... because the increase in inflation was much higher than the interest that I received on my saving. 

One thing that I decided to do, when the Bitcoin price skyrocketed..was to sell a few coins to pay all my debt... if it was not for that, I would have had to dive into my savings to survive. 

[sana54210]

So far, my cost does not yet increase significantly and I can still control my monthly expenses and do not have a problem with that. But I prepare to reduce some things that I think are not too necessary to my family so I think I can save a couple of dollars that I can use as a reserve if I need urgent money.

On a monthly, I try to save at least $50 in my saving and my crypto investment so just in case, I can sell some if I need more money to cover my bills or the other expenses. It is hard to admit, but we can only prepare ourselves if the cost rises because the government adjusted some products.

It is a marvel that you managed to not have increasing costs of living. Here where I live, we had %66 increase in rent on average, thankfully I own my house so I didn't had any problems but that is just shelter, one of the most basic needs in the world. The food prices increased around 21% as well. So, I am spending a lot more than what I did just year, and if we were to look at few years ago then I am spending A LOT more than what I did few years ago.

I was making nearly 1/10th of what I am making now back in 2016 and I was still capable of living, think about it, I am making 10x more than what I made 5 years ago, and I have the same living standards. That is the type of situation I am in and this of course affected by investment in the sense that no matter what I do there is nothing that could make me save since it is very expensive.

[Viscore]

I have not had a pay increase in 3 years, so the inflation has gradually caused me to cut back on luxuries and entertainment expenses that I had 3 years ago.. just to keep the pot cooking. If I was living on the interest on my saving, then I would have struggled.... because the increase in inflation was much higher than the interest that I received on my saving. 

One thing that I decided to do, when the Bitcoin price skyrocketed..was to sell a few coins to pay all my debt... if it was not for that, I would have had to dive into my savings to survive. 

This is a lesson to ponder dude. Things have become worst this time not just due to high inflation alone but also for the pandemic that we are currently facing right now. So its best to stay out from any luxurious or lets say unnecessary expenses so you can put more on your savings and investments at the same time. Learn to balance it all. But just a piece of advice, never put your basic needs at stake or your last option. It will always comes first. Because if its the time your body will start to give up, then all your goals in life will definitely collapse.

[dimonstration]

Well I save in various types of assets. like stocks. deposits and properties and only use the money for personal and entertainment needs. and not interested in expensive goods. so I think inflation doesn't really affect me that much at the moment. and I think the most important thing to deal with inflation is to choose a savings instrument that keeps the value the same. may have an impact on people who do not do so .

Diversifying is indeed a must for us to stat away for big inflations, if we keep saving in bank and in fiat all our savings will lose value. It’s good that crypto exist and that there are more option now where to invest not just in stock,real estates and etc. we can see where we can be best in investing. We can’t stop inflation but we can find ways to minimize it by taking advantage on the benefits of investing that is able to mulitiply or increase our assets if were good in analyzing the market.

[michellee]

So far, my cost does not yet increase significantly and I can still control my monthly expenses and do not have a problem with that. But I prepare to reduce some things that I think are not too necessary to my family so I think I can save a couple of dollars that I can use as a reserve if I need urgent money.

On a monthly, I try to save at least $50 in my saving and my crypto investment so just in case, I can sell some if I need more money to cover my bills or the other expenses. It is hard to admit, but we can only prepare ourselves if the cost rises because the government adjusted some products.

It is a marvel that you managed to not have increasing costs of living. Here where I live, we had %66 increase in rent on average, thankfully I own my house so I didn't had any problems but that is just shelter, one of the most basic needs in the world. The food prices increased around 21% as well. So, I am spending a lot more than what I did just year, and if we were to look at few years ago then I am spending A LOT more than what I did few years ago.

I was making nearly 1/10th of what I am making now back in 2016 and I was still capable of living, think about it, I am making 10x more than what I made 5 years ago, and I have the same living standards. That is the type of situation I am in and this of course affected by investment in the sense that no matter what I do there is nothing that could make me save since it is very expensive.

I still need to learn to manage my money because I feel that I can reduce it for more. My cost in monthly increase but not too significant, which is why I can see that this year, the cost seems not to increase too much and tend to be stable. Since last year, I have tried to delist something that I do not really need such as buying food in the food store. I prefer to cook by myself to reduce the cost. The gas cost reduces a lot in my finances list because I do not go out too often so I can save that money for other things.

It will not be a problem if you still have the same living standards, no matter if you have money or not have much money. We need to be concerned about how we can eat every day and how we can live because that is the primary need that we need to fill. The rest will be secondary needs that we can delist that we do not really need. You can try it and I guess you will see that you actually have more money to savings.

[Poker Player]

In my case, well, where I live, I have started to notice a bit of inflation, in some things more than others, but it has coincided with being promoted at work, with a considerable salary increase. So, I think that despite inflation I will be able to save and invest more.

As I and others have commented in other threads, the best way to deal with inflation is to have financial assets. I have been cultivating financial assets for some time now, and I will continue to do so.

[Hyperechos]

It was the occurrence of inflation that brought me to this forum. My worry about inflation is not because of rising prices, but because of panic about the devaluation of my assets. For small countries, the stability of legal currency is far less than that of superpowers. My friend suggested that I choose an investment goal that can beat inflation, and I learned that Bitcoin is here. Now, I have invested a part of the investment amount in Bitcoin investment, maybe as I understand, I may invest in other cryptocurrencies.

[Ultegra134]

Inflation hasn't really affected me directly, I've mostly noticed it in the supermarket and in fuel. It's quite irritating, the same 6 pack of water bottles costed 1.40€ or 1.50€ a year ago, was now bought at 1.68€. Simple everyday shopping has gone up, I've got plenty of examples to present.

On terms of investing now, I'm not directly affected due to me refraining from using my own salary for investments. I prefer DeFi and not trading anymore. Personally, I use signature campaign earnings and cryptocurrency for investing.

[dezoel]

Do you guys ever get worried though? I mean yes I have been doing fine for myself recently but do you ever get worried that there is a chance the prices will keep on increasing like this, and one day you will not be able to pay them anymore?

I can't keep making more and more money forever, I have been ahead of the curve so far and I have been living a decent life, worst comes to worst I would just live a bit of a worse life and try to survive only and all of that looks like at least 5 years away as long as I have my current job. However after a while, if the prices keep increasing like this, and I can't keep making more money, that literally means my death.

Sure not death right away, and sure it would take a long time to reach there, but I would gradually become poorer and poorer and eventually I won't be able to afford my house, my food, my bills and one day I won't be able to afford much and would need help from government to even stay alive. That just doesn't sound like a nightmare but it looks like it is totally possible if the inflation keeps increasing in my nation.

[Marcorey]

Inflation does affect people's savings. Many countries in the world have experienced inflationary economic problems. When inflation occurs the legal currency will depreciate and savings will decrease. At this time, the price of goods will also rise, so you have to spend more money to buy things. Consumer spending must be increased to meet daily needs. It is possible to protect funds from inflation by investing in Bitcoin.