Have you felt the impact of inflation so far?

[ShowOff]

I know that the inflation rate of each country is different and the relative for each country is different. In my country, this inflation continues to rise which causes a lot of influence on the economic stability of many people "including me". I think this is very bad because the government did not adjust salaries to the increase in inflation and now it is exacerbated by the discourse of increasing fuel prices.

If in the previous 2-3 years $200 - $250 per month was sufficient for an adequate living cost, then the value has continued to increase to $300 - $400 per month in recent months or even higher for the class of rich people. This had an impact on my financial stability where sometimes I had to sell some of the bitcoins I earned from signature campaigns to provide for myself and my family. The value of the currency is increasingly worthless, the value of the currency of goods continues to increase and even the increase becomes uncontrollable.

I have to pay the electricity bill 2-3 times more expensive for normal use. I also have to bear more expensive taxes, and many other things that I may not mention. It really doesn't make sense when the government doesn't seem to care because I can tell that the weak are getting oppressed while the strong are getting stronger.

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

[The Sceptical Chymist]

I don't think I'm paying more for electricity per kwh, and gas has gone down considerably in the past few months, but man....food prices just continue to go up and up.  I'm not kidding, every time I go shopping the price of things I normally buy goes up just a little bit (and sometimes a lot). 

And I think food is where a lot of lower-income folks can't afford to cut back on, like they can with electricity and some other things.  There are so many people dependent on government assistance for food, and I'm pretty sure the amount they get every month doesn't track inflation very well.

The cost of postage from the USPS is expected to go up again this year, too.  Buy those forever stamps now while they're relatively cheap.

[Bollexz1]

Honestly speaking, Inflation got me dealt with. The economy in my country is so intense to the extent that consuming food these days is way too pricy for the vast majority to afford. And more of the reason I felt this is due to the bad season in crypto, if not, I wouldn't be this affected or not even any affected at all. Anyways, better days are ahead, I want to believe.

[_BlackStar]

I think this is very bad because the government did not adjust salaries to the increase in inflation

That's the problem, the government must adjust salaries during inflation so it doesn't have bad impact for finances. If that is not done, then I can expect more famine to occur in your country even if you are a civil servant.

The price of basic necessities and food rises periodically, it can happen in a matter of days and the worst thing is that the value is no longer going down but skyrocketing ^{[only term].} Of course, things like this must be handled properly by the government because usually the mafia will play this for profit.

If you were in this position, what would you do?

Looking for a side income, it can be anything as long as I can do it according to my abilities and skills.

Are you sure the savings you have so far can minimize your financial problems from rising inflation?

If the government does not adjust and improve the situation, then I think in a few years the savings will run out because of their limited value. Be prepared for a worse impact if you want to build a house because I believe the material value will be very high than before. But rest assured, everything will be resolved soon when the government has good choices and solutions.

[goaldigger]

You can really feel that inflation here in my country, starts from the gas price, up to the electricity and sugar and other basic necessities, you can really tell that inflation is getting higher and if our government didn’t do anything to address those issues then we might welcome a bigger inflation rate.

My savings can’t handle that much, i might only able to live for a month or two if it continues to rise, this is why I’m trying my best to look for a better investment that can help me deal with those inflations.

[electronicash]

prices are much higher in the bigger cities unlike in the provinces that's why we felt the inflation but in the outskirts, the prices are adjusted lower.
nowadays i already turn off the air conditioner at midnight as use fan for the rest of the night so save electricity cost.

it use to be easy to decide to travel when you want to have a good weekend experience. now i have to budget whether i could afford to dine or just cook at home and bring the food with my kid to a nearby beach resort. gasoline price affects a lot of us. i might even just fix my old bike.

[livingfree]

Even if I'm already tightening my budget, still it's barely making me at the end. Salaries don't increase and that's why we have to find side hustles that would be designated for some of our expenditures. This will decrease the expense which we're getting from our own salaries.

Savings? Well, just a little and I've just deposited like less than 90% of what I've been saving before. But my reasoning is that, it's still a savings no matter how much it's worth.

One source of income won't keep up with the inflation.

[arallmuus]

I think this is very bad because the government did not adjust salaries to the increase in inflation and now it is exacerbated by the discourse of increasing fuel prices.

It wont be adjusted anytime sooner probably for atleast a year and if the yearly inflation rate stays up above the expectation rate then action would be taken by then. Lots of people especially the lower working class would be suffering before it is adjusted as their living cost would be way more expensive then what it is used to be

Wont go into much details on where I live but so far, nothing except for food prices seems to be increasing though but it seems it is increasing in literally every other countries as well

[n0ne]

I'm experiencing the effects of inflation regularly through the fuel price. When the fuel price increase is there, automatically each and everything will get tied. Electricity in my region have increased drastically, which means beyond certain units of consumption the amount gets doubled. For this reason right now electricity is being used in a calculated manner.

Years ago with what I earn I was able to manage all my needs and make a savings. Now the savings is no more.

[Hydrogen]

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

Seeking alternative options is a decent strategy.

It is clear that our current lifestyle and way of doing things isn't well suited to high inflation environments. The time is ripe to try new things and devise new alternative ways of doing things.

City residents will have a difficult time adjusting due to limited space and residential restrictions. A trend towards rural living could become common due to lower rent, more options and greater living space. Remote working being more widely supported would go some way towards supporting this trend.

Greater living space correlates with an easier time installing solar panels or windmills to reduce energy costs. It correlates with an easier time growing food and raising livestock to disconnect from rising food costs.

Flex hour jobs such as driving for uber or amazon delivery could become more sought after. To fill working hours or shift to fund a shift towards a more digital nomad lifestyle.

Many americans who derive a significant portion of income from the internet are moving abroad to places with lower average cost of living.

There are a number of adjustments and changes that can be made to better cope with rising inflation and economic downturn. Its interesting that there isn't more content devoted to those topics.

[Mahanton]

I'm experiencing the effects of inflation regularly through the fuel price. When the fuel price increase is there, automatically each and everything will get tied. Electricity in my region have increased drastically, which means beyond certain units of consumption the amount gets doubled. For this reason right now electricity is being used in a calculated manner.

Years ago with what I earn I was able to manage all my needs and make a savings. Now the savings is no more.

You could really feel such changes if the salary or income you do have is still the same all over the years and we know that inflation is there and if you wont really be finding any ways for you to increase
your source of income then you would definitely feel or impact of inflation this is why its important that you should really be finding ways on patching up at least yourself to compensate somehow.
Some might still be earning the same and some is trying out their best on enhancing their income so that you wont really be still having problems on making up some savings.

[Silberman]

Honestly speaking, Inflation got me dealt with. The economy in my country is so intense to the extent that consuming food these days is way too pricy for the vast majority to afford. And more of the reason I felt this is due to the bad season in crypto, if not, I wouldn't be this affected or not even any affected at all. Anyways, better days are ahead, I want to believe.

I think that regardless of where we may live I think we are all experimenting the same, the price of food is going higher and higher, in my particular case I think my expenses when it comes to food have increased roughly 20% and that is with buying the same amount of products, now since it is still affordable for me I don't really plan to make any changes, but if this continues and inflation when it comes to food keeps being out of control then I will have no other option but to try to find other brands which offer similar products for a lower cost.

[autumnleaf]

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

Really, both my family and I have been hurt by inflation. Basic necessities like food are becoming increasingly expensive, and we are striving to maintain our tight budgets by making additional savings through promo and discount purchases. Regarding the gas, since we don't have a car, I ride a e-scooter to get to work and shop for necessities.

[Die_empty]

I know that the inflation rate of each country is different and the relative for each country is different. In my country, this inflation continues to rise which causes a lot of influence on the economic stability of many people "including me". I think this is very bad because the government did not adjust salaries to the increase in inflation and now it is exacerbated by the discourse of increasing fuel prices.

I am just guessing that you might from my country because we experiencing almost the same thing. Price of goods and services are skyrocketing and the government is refusing to increase wage because they are predicting that it would cause inflation. Although my country is one of the highest producers of crude oil, the price of fuel is still expensive because we import refined fuel. We don't have working refineries. 

If in the previous 2-3 years $200 - $250 per month was sufficient for an adequate living cost, then the value has continued to increase to $300 - $400 per month in recent months or even higher for the class of rich people. This had an impact on my financial stability where sometimes I had to sell some of the bitcoins I earned from signature campaigns to provide for myself and my family. The value of the currency is increasingly worthless, the value of the currency of goods continues to increase and even the increase becomes uncontrollable.

Its quite pathetic to experience this kind of situation because one cannot plan his financial future. Now the main focus is survival and not investments. I had to move to a smaller apartment so I can be able to cut my families' living expenses.
 

If you were in this position, what would you do? Are you sure the savings you have so far can minimize your financial problems from rising inflation?

If this inflation continues many people including me might not be able to meet their basic needs. Savings would keep dwindling except you take some drastic action such as
- Cutting your expenses; Ensure you spend money on needs and not luxuries.
- Learn another skill to diversify your income
- Search for and engage in other sources of income

It is also important that one learn how to be happy regardless of the negative condition. Hence, to avoid help challenges and stress we must learn to relax and give time to the things we love.

[Detritus]

In my country, inflation rate is really high, mostly for consumable goods and some house hold utensils. Every month I usually spend more than my bodget for that month. Electricity bill is so high X2 of what I was paying last year, gas bill is also too expensive.
   But am learning how to manage the inflation rate. while shopping I go for the primary needs first before secondary needs which I can get the next month. I try to manage my bodget this days.
  

[ultrloa]

Absolutely yes, the purchasing power of our money use to buy good decreased and we can really feel it here that the goods we buy is totally less than and also the price of basic good are so high right now. Especially the price of electricity and oil which is necessary needed is also sky rocketing that's why I expect that this inflation rate will soar up. also there are still ongoing crisis due to war in ukraine, covid pandemic still exist plus we can add the monkey pox virus which adds the economic disturbance.

[batang_bitcoin]

Really, both my family and I have been hurt by inflation. Basic necessities like food are becoming increasingly expensive, and we are striving to maintain our tight budgets by making additional savings through promo and discount purchases. Regarding the gas, since we don't have a car, I ride a e-scooter to get to work and shop for necessities.

I have the same struggle, I have a car and I only go with important errands and travels but still, with the high price of gas I still need to budget my travels.
And for the basic necessities, they're being lesser these days and due to the inflation. Most foods that we consume, we're no longer storing a lot of it unlike before since they're cheaper and more affordable.
To those that owns a car, if it's not an important travel, just commute or better stay at home.

[TheNineClub]

I mean, prices have risen due to number of reasons and in part due to inflation, but what worries me is not the immediate impact of inflation and other issues, it's what it does in the long run that sparks the most concern. Those kinds of impacts could be felt for years to come.

[Ultegra134]

I'm working at a known supermarket chain and constantly face the increasing prices. Especially meat, eggs and dairy have skyrocketed. I used to buy a kg of chicken fillet for approximately €6.50 - €7.50, now the average price exceeds €9, and that's only one example, I have plenty similar scenarios.

My main concern is that since March, I'm unable to save as much as I used to, and some months I'm spending more than I've made, even though I've severely reduced my consumption.

[Falconer]

I can really feel the impact of inflation. Almost all goods prices went up, electricity went up, fuel prices went up and I also agree that taxes also went up. You are in the same country as me, obviously this will feel the same to us. There is no current government policy that is very beneficial to the people, this is a bad era for the economy which is getting closer to crisis. I can even say that if we are not going to have a financial crisis, then we are going to have a crisis of confidence in the government.

If you were in this position, what would you do?

Find a way out. I think a side job without interfering with your main job is a good option to consider. It doesn't matter how much money you can make but when you have 2-3 sources of income then your financial situation will be better.

Are you sure the savings you have so far can minimize your financial problems from rising inflation?

Over time it will run out, but if your income and expenses are controlled then I think stability can still be achieved. The main point is to find a way out and have several sources of income instead of just relying on the main source of income.

Mate, 1 pack of cigarettes I smoked today last year cost $1.2, but this year it went up to $2 more. Imagine how much other stuff is expensive now.