Savings during inflation

[odunybiz]

Saving ones money is good but could be a disadvantage during inflation. During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.



See the difference in price within 2 year. Bank can never put such difference as interest on the saved money.

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

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[Charles-Tim]

A time like this, it is good to go for asset like bitcoin as investment, going for bitcoin now would also be an hedge against inflation over years, just as it was in the past.

Bitcoin can be a speculative asset, but investing when the price is significantly low is a profitable investment strategy and also would be a hedge against inflation, that is what I mean.

Fiat do depreciate, especially in underdeveloped and developing nations, even US and countries in Europe which have good economy were unable to avoid over 7.5% inflation this year.

Not wise at all to save fiat in bank, going for investment is one of the reasons rich people is becoming richer.

[Duzter]

Every country is experiencing the inflation at its peak. A true example is pictured in the opening post. The right approach is to invest on cryptocurrencies which assure of profit. Even with cryptocurrency one need to do things at the right time without making any delay.

Once savings served as a base for further investment needs. Now things have changed and it is completely upside down. In my country banks are at its worst and few have closed the service. So, banks are no more a place for our hard earned money.

[batang_bitcoin]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

[Yatsan]

In savings, it would be really a disadvantage. They say "the value of money does not change", which is false. The price of everything moves, and the only stagnant thing is fiat. Like this scenario:

You put 10,000 usd in a piggybank, then for some reason you forgot that you did such. After 3 years you remembered. LOL
The things your 10k can buy before, is less worthy than the things that you can buy at the present because the market value of  devices, foods, and everything being sold, continuously increases due to inflation.

This is also why some people prefer investing their money than to just save it because it would be wiser.

Unless you chose to convert your savings into assets.

[cabron]

Generators need gas. You might be saving more with  Solar Panel or Wind Turbine which I think have worked in Africa.

The only investment that is likely to go up or safe from inflation is the Bonds and Bitcoin. Saving now will just hurt you instead spending the money you have is what you'd prefer to do before supplies run out because its not just inflation is the problem but the supply chains.

[edgycorner]

Couldn't agree more. Investing in assets such as real estate or stocks is always a better option than saving money in the bank during inflation. This is because the value of assets will increase over time, while the value of money saved in the bank will decrease.

If someone is living paycheck to paycheck, they should not be saving money because it will only put them at a disadvantage.
One advantage of saving money is that it can be used as a buffer during tough economic times. Having money saved up can help you weather a temporary loss of income or unexpected expenses.
Otherwise, it is better to invest in something that will maintain its value or increase in value over time.

[Eden Loomis]

Savings is secure but it cannot generate much interests. Therefore, I accept risks to invest my savings because I don't want my money lose its value too fast in the future

[samcrypto]

Savings is not advisable for those who have extra money, because this can’t give you enough profit so it’s really advisable to put too much money on savings account. As suggested by many, you can save the amount of your expenses up to 6 months which this can also save as your emergency funds, beyond that amount better to put it on a market where you can at least earn 10% yearly, which I think is already enough to beat inflation. Stocks and crypto market are both risky, but the reward is great.

[adaseb]

Yes inflation is horrible on the savings account. Generally you should invest it however if you invest at the wrong time like at peak 2021 then you are no better off.

From 2 years ago I found most items are at least 20-30% more expensive. Some more than others. So if you had some savings then 20-30% of the value is gone pretty much.

[Oasisman]

During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

Well, what is needed is always going to be the top priority to use your money from. You also have to be aware of unnecessary spending, espcially with the stuff you think you needed, but eventually you'll realize it's not just because you are rushing to get these things to avoid inflation.
Savings and investing should be two separate thing on must do. I don't see any problem with savings in the banks, of course you don't want to expect it would increase in value over time. Savings are meant for emergency purposes. It should be secured and risk free and banks can do that for you. While on the other hand, Savings just don't get you profit thus you need to invest to let the money do the work for you and multiply itself.

 

[Uang_kartal]

actually only the segmentation is different.
if you mean to buy goods that sustain a lifestyle, I agree with you. Be it electronics, goods or services make conversions even more irrational.
and if you are patient and know the momentum, you will definitely know the right price, of course, it will be equivalent to what is given the benefits.
but there is also consumption or that must still be purchased for needs.
if you want to save, try looking at assets that can move in price, not electronics, which can change models at any time and continue to innovate. Of course the selling value will be different.
I prefer crypto. a strategic plot of land and fields or buildings.

[wxa7115]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

Which is precisely why it is such a bad idea to have your money at a bank at any moment in time, because they are always giving you less money than whatever is the inflation rate at that point, so not only banks are offering you even less money than inflation they are using your money to generate profits for themselves and they give you nothing for it.

And if this was not bad enough it can be quite problematic to get your money out of the bank in an emergency, so if you are wondering why people use banks at all, you're not alone, because I wonder the same as well.

[Don Pedro Dinero]

Well, but it makes sense to have some fiat money in the bank or at home for contingencies, and the rest to invest.

If years go by and you haven't had any unforeseen events for whom you had to spend the money, the purchasing power of that fiat money you keep will have decreased, but consider it a price to pay as insurance.

You should also bear in mind that we are in a period of higher than average inflation, which is about 3%. So, under normal conditions, the average price in two years would have risen by 6.3%, not double.

[Xxmodded]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

Around my environment know about how inflation values when saving money in the bank and some of them buy property assets and gold or silver as their saving how keep away from inflation values than saving in the bank. I think have bigger percentage inflation values when saving money in the bank although we got few percent about achievement or feedback giving by bank. I know when saving in the bank got emergency we can take and withdraw all money cash without any trouble yet, but when saving in some property or other investment way need time for selling and get it become cash money.

[LogitechMouse]

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

I don't want to put much money into banks and I only put there my emergency funds. Most of our salary goes to expenses and to investments. That's the best thing to do.

Why save unnecessary money if you have the opportunity to invest it into different assets? That's the problem for most of the people right now. It is easier to invest right now than the past but it seems that people prefer to just save money into banks because they believe that it will grow there but it's the opposite.

[jossiel]

Savings is secure but it cannot generate much interests. Therefore, I accept risks to invest my savings because I don't want my money lose its value too fast in the future

Savings in the bank guarantees interest but the thing is, you just can't keep up with the inflation.

The guaranteed interest they give is too little to best the inflation.

It is much better to take a risk into an investment with a chance of beating the inflation and making money from it.

[batang_bitcoin]

Which is precisely why it is such a bad idea to have your money at a bank at any moment in time, because they are always giving you less money than whatever is the inflation rate at that point, so not only banks are offering you even less money than inflation they are using your money to generate profits for themselves and they give you nothing for it.

And if this was not bad enough it can be quite problematic to get your money out of the bank in an emergency, so if you are wondering why people use banks at all, you're not alone, because I wonder the same as well.

Well, that's the business the bank has. They will use our money and we get less in return for that deposit. And with some news in other countries, they were even have hard time in getting their own money due to policy issues.

Around my environment know about how inflation values when saving money in the bank and some of them buy property assets and gold or silver as their saving how keep away from inflation values than saving in the bank. I think have bigger percentage inflation values when saving money in the bank although we got few percent about achievement or feedback giving by bank. I know when saving in the bank got emergency we can take and withdraw all money cash without any trouble yet, but when saving in some property or other investment way need time for selling and get it become cash money.

Putting their money in the precious metals are a good style and technique. Many millionaires does that but in our time and generation, bitcoin is the key man. It's essential to have an emergency money in the bank when you need some cash but you don't have to deposit all of it and let them use it to earn for their own business of lending and capitalism.

[fiulpro]

Savings can definitely help you a great deal, let us imagine a scenario when you won't have much saved money but would definitely have loads of commodities, which you can sell during inflation to somehow arrange it, but what you would need is a ' buyer ' during inflation this can be a problem as well therefore I do think you need to realize that no savings are unnecessary, ofcourse the money does not hold the same value as it did 10 years ago but it's still worth something, i always think that property investment would be a great deal! Since this would not only help you to have a better backup but at the same time it would also pave way for the future as well.
Invest in property
Invest in cryptocurrencies like bitcoins
Invest in education

[davis196]

Many people keep saying that the times of high inflation are the best time to borrow and spend as much money as you can and stop saving.
This seems very risky to me and borrowing money only for the sake of borrowing had always seemed like a stupid move.
Yes, saving fiat money in the bank in times of high inflation is definitely a wrong financial decision. I don't know if turning your savings into cryptocurrencies might be the right decision. Maybe it will be in the long term. Unfortunately the high fiat inflation is combined with a "crypto winter" on the crypto markets. Perhaps after one or two years, those crypto investments will pay off, when the bull run hits the crypto markets.

[Findingnemo]

Saving ones money is good but could be a disadvantage during inflation. During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.



See the difference in price within 2 year. Bank can never put such difference as interest on the saved money.

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

Savings the Fiat cash for long term is stupidest mindset, if you have money and you know that you don't need that for years then go for investment atleast something with guaranteed returns which is higher than the inflation in your country. Savings in the gold bonds is highly recommended if you did that instead of just keeping it as cash you probably bought what you need now.

[ethereumhunter]

Everyone has a choice to keep their money in the bank, buy them daily necessities, invest in things they already do or invest in crypto. It also depends on how they understand the meaning of inflation that can occur at any time and if they don't think too much about inflation, they are just trying to fulfill their daily needs. And @OP has already chosen what he thinks is best to do and although he did decide to keep the money in the bank, I guess it was at his discretion. But hopefully, he also invests in other things, namely bitcoin or something.

[SirLancelot]

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

We should buy before inflation or after inflation and not during inflation because the prices of the goods during that time are skyrocketing. Savings is mandatory and it is not unnecessary because savings is not like spending where your money can only decrease but it's true that it's better to save money which isn't really needed so that you won't touch your savings later on if ever you invest most of your salary on it.

On the last part, investing is also important but I think saving should be our priority because it is less risky but investing especially in cryptos has a risk because their values are fluctuating. If we like to do both, we should have a separate money for them and savings money should not be touch only to add more assets on your investment.

[Haunebu]

Well said op. Honestly, I possess decent money saving skills since I tend to only spend money whenever absolutely necessary though that is very, very difficult to maintain in the long-term for obvious reasons.

I like the manner in which you demonstrated the negative impact of inflation on savings through a detailed example.

Most people including me are already aware of this stuff since it's common sense, but your post serves as a useful remainder as to why saving money isn't always the right decision.

[sayaya17]

Savings the Fiat cash for long term is stupidest mindset, if you have money and you know that you don't need that for years then go for investment atleast something with guaranteed returns which is higher than the inflation in your country. Savings in the gold bonds is highly recommended if you did that instead of just keeping it as cash you probably bought what you need now.

With high inflation every year, it is indeed not a wise choice if we save fiat in the bank, especially for the long term, it only makes the value of
our savings decrease. Because banks usually provide a small interest rate if we save in the bank. It's different if we use our money to invest
in assets that can provide greater profits than rising inflation. If we want to be safe, we can invest in the stock market, Gold and Real Estate.
But if we want to take a higher risk, investing in crypto is my most recommended. Although the risk of investing in crypto is very high,
but if we can choose the right coins, our opportunity to generate profit is very large. So my advice is just save money in the bank only to buy
daily necessities, if we have extra money, invest in crypto, or want a safer investment in the assets I mentioned earlier.

[naira]

I don't know if turning your savings into cryptocurrencies might be the right decision. Maybe it will be in the long term. Unfortunately the high fiat inflation is combined with a "crypto winter" on the crypto markets. Perhaps after one or two years, those crypto investments will pay off, when the bull run hits the crypto markets.

It is true that the correlation between the two always has an impact at almost the same time. During inflation, the value of paper money is at stake as well as when the crypto market is affected by the withdrawal of investors to shift their assets to gold which is considered stable. But another alternative when inflation is Bitcoin can also be chosen. People feel reluctant to transfer assets depending on how we know inflation will be prolonged. There are two elements of investors who run to crypto and those who run their finances to gold. At the same time, gold is in the control of governments and banks while Bitcoin is in the hands of its owners. Therefore I think to take the proper steps then Bitcoin is the choice in times of inflation.

[LoyceMobile]

Inflation is made by central banks, and is not in the interest (pun intended) of most people. I would like my money to keep it's value, but as long as one person can decide to inflate fiat, that will never happen.

And that's why central banks fear Bitcoin: they can't inflate it.

[Jawhead999]

I don't think anyone should quickly purchase any commodities that they want to buy without a delay because it depends on when you need it and how long your will use it, that's important to know to prevent from unnecessary spending.

Savings is useless if you want to hedge against inflation, investing is the only way though it's have a risk.... but we don't have choice here.

I think investing in garden can be an another choice for people who scared about digital stuffs and scared to get a fake commodities.

[inthelongrun]

Savings is still very important but it should be limited like allocating some money for emergency purposes. During the pandemic, I moved the bulk of my bank savings into stocks. The problem is the whole stock market went down too and their value now are worse than the high inflations happening right now. I heard a lot of people in the stock and crypto market mentioning that cash is the king right now which I still disagree with, for as long as there is still enough emergency funds in the bank.

OP posted a machine as an example. If that machine is necessary and is used in order to generate profit then it is a good decision. Otherwise, it will only depreciate in value.

[Flexystar]

Even this happens in the industry wide financial management. For example, in mechanical driven industries they will always stock up the warehouse with all the jobs they want for the production and thus to avoid the yearly “incriminating” costs for the raw materials and finished products.

In fact we are taught that if company has enough funds then they should always stock up non expiring and non diminishing products in bulk so that when rest of the industry would be buying at high cost and adding the cost into finished product; we would be the one who will sell the finished product at cheapest rate.

So I can completely relate the generator example here and yes there is no point in saving at least when it comes to the daily required stuff.

[Gayong88]

I've always assumed that inflation is a function of interest rates, if interest rates go up, the purchasing power of money will fall. But if high inflation will reach 10% in three months, then something must be done before that time. Inflation does not respect purchasing power, only for exchange rates. This is why we need to add money to your bank account on the right day, or it will be useless at the end of the month.

The future of inflation is a broad topic that spans not only the next decade, but could last for decades. Thus, there is no way of knowing for sure whether we have surpassed it at this point or not.

[kesmex]

Purchasing things wouldn't be our main option during this inflation crisis but rather surviving. Most countries are struggling so purchasing expensive stuff would be hard. Most of us are just earning enough to sustain our daily necessities. Also, I would rather invest in potential coins than save my funds in banks because crypto has risks yet could be more profitable in time. The long-term investment would be the right choice that we have so despite the crisis, we could have a guarantee of good profit in the future.

With the current inflation I think we have to really manage our finances wisely,
the price of basic commodities is increasing and that is certainly not the condition we want,
Don't waste money on what you don't need

[m2017]

Money was created not to save wealth with it, but to buy goods and services with it. That is, money is not a tool for saving at all. This is exacerbated by inflation. Therefore, the comparison of saving with investment is incorrect in view of the difference in goals and objectives. Of course, investing is preferable to saving, because it allows you to offset or outpace inflation. This will be a tool for preserving wealth (income). Attempts to save wealth in money are doomed to failure, because every year these savings decrease due to inflation / rising prices for goods and services.

[Davidvictorson]

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

All the points you have made are very valid. However, since all fingers are not equal, I would advice that one should save irrespective of whether the economy is experiencing inflation or not. There are unforeseen circumstances that the money one may have put away may just come in handy. Besides isn't the money saved is what one would use to invest in any business venture especially when it is a small venture? It will be a terrible idea to take a loan or to get an investor who may dictate how the business runs because you didn't make any financial input.

[South Park]

Many people keep saying that the times of high inflation are the best time to borrow and spend as much money as you can and stop saving.
This seems very risky to me and borrowing money only for the sake of borrowing had always seemed like a stupid move.
Yes, saving fiat money in the bank in times of high inflation is definitely a wrong financial decision. I don't know if turning your savings into cryptocurrencies might be the right decision. Maybe it will be in the long term. Unfortunately the high fiat inflation is combined with a "crypto winter" on the crypto markets. Perhaps after one or two years, those crypto investments will pay off, when the bull run hits the crypto markets.

It is true that in theory you could borrow money now for a low interest rate and then pay it back with cheaper money in the future, but this is a very risky maneuver, this is something that a person that is very experimented in the world business could do but it is not something that I will recommend for your average person, the most likely outcome for someone like that is that they're going to lose their money, only then they will understand that they got obsessed with the idea of doing something like that but they did not even need it, which will make their failure even more difficult to accept.

[Raflesia]

Saving is definitely not something that is good enough especially when inflation seems to be unavoidable. But in this case I agree with some friends here who do invest in some assets such as Crypto or other things that have a clear hedge from inflation very well. Indeed, in this case not only Crypto but as long as they have inflation protection, then storing there is still very good.

[Oceat]

It depends on every person's interest though since saving money can make you buy something in the future and if you have enough savings to buy something then it's good. Inflation might be a very good time to buy something if the price of that thing depreciate but if it's hit by the inflation I don't think it's worth it to buy. Some things might drop their original price due to inflation while some may pump 2x to 3x I wouldn't mind if it's important but food somehow is something I can't deny even if the price is rising to almost double or triple. Smh

[lienfaye]

Lastly, investing is highly preferable to savings.

Indeed. Saving is good because it still wise to have money that you can count on especially in times of emergency. However we cant expect for our money to gain interest through saving, in banks they're giving very low interest annually. Thus not worth if you're into increasing your savings.

Therefore investing is better to achieve your financial goals and to secure your retirement, its possible if ever you succeed in your investing venture. Because inflation is inevitable so its better to not be contented that you have savings, the value of it might be less if you already need it, lets say years after. But when we invest, money is working for us to be financially independent. This is an option to deal with inflation.

[Wong Gendheng]

If we only rely on saving, we will not be able to face inflation, I prefer to put money for productive things such as business even with small grades, it's better to put money on friends who do business and the distribution of results we have agreed.

[bitzizzix]

It's not that saving doesn't give you a profit, it's just that saving doesn't provide a suitable return and only creates value
Your savings will be eroded due to the inflation rate.
and there is no better way to save money in times of inflation than by investing because your money is not being eroded by inflation, but rather will increase and by storing money in inflation-resistant instruments, such as bitcoin or crypto, gold, stocks, bonds, property or houses and other investments.
and they all have different ways and risks that must be studied and understood well before doing so.

[Zanab247]

Saving your money on an asset like Bitcoin during inflation will really help you to purchase whatever you want to purchase in the market than saving the money in the bank which the interest that will be coming in Will not allow you to purchase whatever you want from the market at the moment. Now that people are still experiencing bear season in the community, it will be favourable for you to Save the money on Bitcoin investment and wait for the price to increase higher before you can sell to make suitable money that will enable you to purchase any products from the market in this inflation season.

[justdimin]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

Which is precisely why it is such a bad idea to have your money at a bank at any moment in time, because they are always giving you less money than whatever is the inflation rate at that point, so not only banks are offering you even less money than inflation they are using your money to generate profits for themselves and they give you nothing for it.

And if this was not bad enough it can be quite problematic to get your money out of the bank in an emergency, so if you are wondering why people use banks at all, you're not alone, because I wonder the same as well.

The moment I learned that banks give loans more than they have money was the moment I took all my money out of banks. I either have debt in banks, or have money in crypto, I never have money in banks ever again. It just doesn't make sense that something like banks could leverage their money into loans and hope that they could get away with it as the default rates are low.

The moment default rates go up to a certain point, banks collapse and go bankrupt, or gets bailed out. That is not the type of risk we as people can take, or we will not be saved and when we declare bankruptcy then everything is taken from us. Hence, I believe this unfair law regarding banks being saved is terrible.

[BIT-BENDER]

Yes you are correct. I live in a country that is ravaged by inflation. My local currency is Naira and the value of this currency is always plummeting, let's say you keep the value of $6k in naira in a bank during March this year that money may be worth less than $5k and it really making people have a rethink.
Well what People normally do is converting the naira to dollar on black market and keeping the dollar note (this is a crime) and then keeping the dollar for themselves but if into crypto-currency you can switch it to any safe stablecoin.
Of course since I joined crypto-currency I have always preferred to earn that way and with my local bank placing tabs on Crypto to naira conversation I mostly use p2p or just keep it in my wallet. With the inflation rate rising this just gives another solid reason of having a bank account as a big disadvantage.

[BRINIRHA]

During inflation if you want to keep saving. then never save in the form of money / fiat. because the value of money will inevitably decrease in exchange rate during inflation. and the price of goods will also certainly increase as experienced by you Op.
The safest saving solution during inflation is to buy your money into Gold or Gold jewelry if you want physical savings. even though gold also fluctuates, in reality during a pandemic the value of gold even rises. although in 2022 it will decline again but not as bad as other assets. inflation has little effect. even now is a good time to buy gold. or if you want another option is to buy bitcoin. because now even many citizens of a country affected by inflation move some of their wealth into bitcoin. for example, are citizens of Turkey.

[Lanatsa]

--

Not only during inflation - but during the normal life - saving up is very important.
Be it personal or professional life - it's better to take care of every penny you spend.
I have read a quote which says take care of penny and dollar will take care of you.

Would really be just typical that we should really be making out some savings or take up some partition on our income because emergencies could happen plus it doesnt only pertains about on that part but also it

does give out the chance for you to make out some investments if you do wish on doing so.Inflation is just been part of our lives and if you do mind off about it and find ways then it would be always fall into the

category of investing on things which could really make more income because holding it on your bank on idle state wont really give out any benefits and we arent that blind on not to see on how inflation works.

[BRINIRHA]

During inflation if you want to keep saving. then never save in the form of money / fiat. because the value of money will inevitably decrease in exchange rate during inflation. and the price of goods will also certainly increase as experienced by you Op.
The safest saving solution during inflation is to buy your money into Gold or Gold jewelry if you want physical savings. even though gold also fluctuates, in reality during a pandemic the value of gold even rises. although in 2022 it will decline again but not as bad as other assets. inflation has little effect. even now is a good time to buy gold. or if you want another option is to buy bitcoin. because now even many citizens of a country affected by inflation move some of their wealth into bitcoin. for example, are citizens of Turkey.

Not only during inflation - but during the normal life - saving up is very important.
Be it personal or professional life - it's better to take care of every penny you spend.
I have read a quote which says take care of penny and dollar will take care of you.

it's like that. in any situation we must be good at managing our finances, including in terms of saving. But the concern here is the situation of saving in times of inflation where the price of goods continues to increase, which means that the value of the currency we hold has shrunk in exchange rate. so this is where we have to be good at maintaining the value of our savings so that they are not affected by inflation. one way is to save not in fiat. but save in assets that are less affected by inflation. such as Gold, property and Bitcoin. all have their own fluctuations. and has its own advantages and disadvantages. but every year fiat depreciates in value.

[bestcoins1]

If we only rely on saving, we will not be able to face inflation, I prefer to put money for productive things such as business even with small grades, it's better to put money on friends who do business and the distribution of results we have agreed.

I have been doing this since a year ago and it is still running until now with the initial agreement that I have set. Indeed it is a very good option now and also benefits both parties, but it would be great if the business was a little bigger because the profit to be gained would also be a bit more hefty. Besides that, I personally also play money in my own business with different categories to help smooth my personal financial income in life.

[TravelMug]

If we only rely on saving, we will not be able to face inflation, I prefer to put money for productive things such as business even with small grades, it's better to put money on friends who do business and the distribution of results we have agreed.

I have been doing this since a year ago and it is still running until now with the initial agreement that I have set. Indeed it is a very good option now and also benefits both parties, but it would be great if the business was a little bigger because the profit to be gained would also be a bit more hefty. Besides that, I personally also play money in my own business with different categories to help smooth my personal financial income in life.

Of course, I think everyone is well aware of that saving in banks is not a good thing as it will just sleep it there and probably banks are going to used your money too.

So investment is the right thing, in any situation. As others have said, "make more money" by investing. Although there is a caveat, if you have loans or debts then better to pay it first before you make any kind of investments whether stocks or cryptocurrencies or in a business.

[Cookdata]

You're right about this. Inflation is just one of the reasons you should never hold a fiat from day one, you will lose half of its value within a short period of time. While it is also possible that you may also lose a portion of investment during an economic crisis like the one we are currently facing right now but the big deal is to have them invested in something tangible because they always grow back after the shake but your fiats in your bank account are not tied to anything, and the sad part of it to a common citizen is that the CBN keeps printing worthless notes on the street while enriching the reach folks. My advice, there is no point in holding Fiat if you are not going to spend it that instant.

[Smack That Ace]

Lastly, investing is highly preferable to savings.

Indeed. Saving is good because it still wise to have money that you can count on especially in times of emergency. However we cant expect for our money to gain interest through saving, in banks they're giving very low interest annually. Thus not worth if you're into increasing your savings.

Therefore investing is better to achieve your financial goals and to secure your retirement, its possible if ever you succeed in your investing venture. Because inflation is inevitable so its better to not be contented that you have savings, the value of it might be less if you already need it, lets say years after. But when we invest, money is working for us to be financially independent. This is an option to deal with inflation.

Investing is a better way to increase financial capacity as well as fight inflation, but saving is also really indispensable because investment is not always guaranteed to bring us profits. Saving won't help us avoid inflation or increase wealth, but it can help us in emergencies.

We should not just focus on investing without saving and conversely we should not put all our money into saving without investing, as long as we know how to balance the two, our lives will be easier and better.

[livingfree]

Saving your money on an asset like Bitcoin during inflation will really help you to purchase whatever you want to purchase in the market than saving the money in the bank

Well, things that you want to purchase will depend on how much you're holding. But it's advisable to keep your wealth in the form of a growing asset than with a stagnant currency.

But these days, American dollar is becoming stronger.

saving the money in the bank which the interest that will be coming in Will not allow you to purchase whatever you want from the market at the moment.

You still have money if you save in the bank so, I don't understand why you're saying that it will not allow you to buy things. You still have a purchasing power but it's lesser if the inflation becomes higher.

Now that people are still experiencing bear season in the community, it will be favourable for you to Save the money on Bitcoin investment and wait for the price to increase higher before you can sell to make suitable money that will enable you to purchase any products from the market in this inflation season.

Aside from bitcoin, there are also other income generating assets that you can diversify. But if you've got nothing and just starting out, it's best to acquire bitcoin.

[Gozie51]

In a country where there is no assurance to reduce the rate of inflation, it is risky to save your money in the bank because in the near future such money you keep would amount to lesser value of commodities that would have been bought with it in the past. Inflation is not friendly with fiat currencies especially if there are no proper regulation from the government, then you can only purchase few products with high cost because the fiat value keeps reducing by the day.

[Lubang Bawah]

Economic conditions are certain to be increasingly difficult and make us must always be vigilant, the impact of war will occur for the long term and is real that many countries are bankrupt due to many problems, especially economic problems. Saving at a bank is certain to not get anything because bank interest is only 10% per year.

[EarnOnVictor]

Saving ones money is good but could be a disadvantage during inflation. During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.


See the difference in price within 2 year. Bank can never put such difference as interest on the saved money.

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

I'm happy to have known all these before now because I have been in the world of trading and economics for a long. I have always known that if a sufficient amount of money is at your disposal, it is better not to keep it in the bank, they will be the ones that will benefit from it most and will be giving you peanuts in the name of interest.

It is better to hold it as an asset and in the USD. You might buy gold, crypto, land and other properties. Aside from these, the value of your money will consistently depreciate in almost all the countries of the world.

[MCobian]

Economic conditions are certain to be increasingly difficult and make us must always be vigilant, the impact of war will occur for the long term and is real that many countries are bankrupt due to many problems, especially economic problems. Saving at a bank is certain to not get anything because bank interest is only 10% per year.

Many bad things happen in this world besides high inflation, especially entering the year 2022 the world situation is getting worse due to the war
between Russia and Ukraine.  Causing an increase in the needs of daily living, while not accompanied by an increase in income, this led to bankruptcy
for several countries. One of the countries that was severely affected was Sri Lanka, there was chaos in Sri Lanka.

Therefore we must start learning to save our income, try to reduce buying things that are not too important. But to get a big profit, it seems like saving
in the bank should be avoided, as you said the interest rate offered is very low. We must dare to take risks to invest in crypto, actually if we invest
in top coins it is actually quite safe and the risk is not too high. We know that in the last decade cryptocurrencies provide greater returns than
investments in other assets. So I suggest that the extra money we have is bought crypto for long-term investment, so we can avoid high inflation and
also we improve our economy by investing in crypto.

[Reid]

This is the reason why I cannot buy anything right now, especially equipment things. It's just that I am keen at price checking and I know how much the difference is today than last year or a couple. It is true, it's doubled, worst some items are tripled in price. I guess my only option is to save it for later or if the equipment is badly a necessity then just swallow the expensive price and don't regret it.
It's difficult to adjust now because the salary is not even changing, it's not levelled with the new price tags in the market.

[wxa7115]

This is the reason why I cannot buy anything right now, especially equipment things. It's just that I am keen at price checking and I know how much the difference is today than last year or a couple. It is true, it's doubled, worst some items are tripled in price. I guess my only option is to save it for later or if the equipment is badly a necessity then just swallow the expensive price and don't regret it.
It's difficult to adjust now because the salary is not even changing, it's not levelled with the new price tags in the market.

Some of those price increases can be justified by the supply issues and inflation that we are seeing all over the world, but we also need to be honest about what's happening, businesses are taking advantage of the situation in order to increase their profits by charging prices that are unjustified.

They want to earn way more money with each unit that they sell and it seems they are not taking into account that many people cannot pay so much money for the same product, and as such I think their profits over the long term are going to go down due to those price increases.

[LittleBitFunny]

This is the reason why I cannot buy anything right now, especially equipment things. It's just that I am keen at price checking and I know how much the difference is today than last year or a couple. It is true, it's doubled, worst some items are tripled in price. I guess my only option is to save it for later or if the equipment is badly a necessity then just swallow the expensive price and don't regret it.
It's difficult to adjust now because the salary is not even changing, it's not levelled with the new price tags in the market.

Some of those price increases can be justified by the supply issues and inflation that we are seeing all over the world, but we also need to be honest about what's happening, businesses are taking advantage of the situation in order to increase their profits by charging prices that are unjustified.

They want to earn way more money with each unit that they sell and it seems they are not taking into account that many people cannot pay so much money for the same product, and as such I think their profits over the long term are going to go down due to those price increases.

It's business, mate. Everyone wants to make more money all the time. I think they know what they are doing, they have taken full advantage of the supply shortage as well as production difficulties to push up the price. They won't care how people buy their expensive products, what they care about is that they are also having the opportunity to fill their pockets. As long as their product provides an important item, an essential item, they won't have to worry so much that there won't be a buyer.

[Sebas.tian]

Savings is not advisable for those who have extra money, because this can’t give you enough profit so it’s really advisable to put too much money on savings account. As suggested by many, you can save the amount of your expenses up to 6 months which this can also save as your emergency funds, beyond that amount better to put it on a market where you can at least earn 10% yearly, which I think is already enough to beat inflation. Stocks and crypto market are both risky, but the reward is great.

I agree with you, because saving money will not allow you to be part of this opportunity many traders are experiencing in the market to buy a huge amount of coins and hold for a better future to come. It will be difficult for you to invest a huge amount of money on crypto in this season of inflation and you will not have something good to achieve in future that will help you to buy whatever you want to buy in the market. It will be favourable if you can take a good step now to put 60% of your money on potential coins in this bearish season and hold for their price to increase higher in the market before you can sell to make a passive incomes from your trade.

[lucates]

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

Moderate levels of inflation stimulate economic growth because it improves the business environment, which promotes capital formation, that's, investment. But high rates of inflation retards or reduce capital formation leads to decrease the savings and investment. Because real income or interest rate reduces, so capacity or willingness to save will reduce automatically.

[ChiBitCTy]

First off those generators look different and is that a marketplace site like eBay ? I’m not sure that accurately depicts the difference due to inflation. You do have a good point, savings accounts during high inflation times are essentially losing money, but that doesn’t mean you should be saving money like that. It’s still important to have cash on hand in case of emergencies. Also, if you do need to be storing money in savings, make sure you find high yield savings: example .. in the US a Chase Bank savings account rate is around .01% however if you choose an online only bank like Ally, their savings rate is 2%.   

[trendcoin]

...

It is quite normal for the prices of energy-related products to increase during the energy crisis. I could not follow the generator prices, but I followed the prices of solar energy systems almost instantaneously. I have personally witnessed exorbitant increases like you have encountered... I think the energy crisis will not be a temporary problem. If you want to buy energy-related products, you can consider purchasing immediately before more demand accumulates. Even if a normalization begins between Russia and the West, it may take much longer for prices to normalize again.

[Luqman]

👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

Yes, buying something for investment should be as quickly as possible. For example, if you plan to buy land, gold, or Bitcoin. These 3 commodities are increasing their values gradually, the prices will be so much different in the next few years.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

What do you mean by unnecessary saving?
It is true, commonly the savings are generated from extra money got from our income.
It is rarely happening that we force savings while we have lack money to use for daily necessities.

[Mr. Magkaisa]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

-  I agree with what you said Sir, there is really nothing the bank can do when inflation exists. And almost all countries around the world today are facing this type of crisis and it cannot be stopped lightly unless the government of each country has another alternative solution.

That's why business people use their own methods to overcome this inflation. And it is also right that since the increase in prices cannot be stopped, it is better to put the money in businesses that can circulate the capital quickly so that it can grow in a short time, but of course that still depends on the business you invest it in. , so thorough investigation is required before you invest in it.

[autumnleaf]

Instead of depositing my fiat money in the bank, I prefer to invest in assets that produce income while not requiring a lot of work, such as rental properties, and I also occasionally buy bitcoins. When inflation is high, buying bitcoin is an extremely smart investment move. It's important to manage your finances wisely and spend money in a way that meets your needs.

[CageMabok]

To make our future better, we must make it a habit to save, this will allow us to manage finances well, inflation always occurs and saving will make us not short of money and certainly not in debt when unexpected expenses occur, and I think saving in cryptocurrencies is a better solution than saving cash in banks.

In the end you will also rely on the bank to withdraw money, right?
So don't say it's not good to keep cash in the Bank because everyone needs to make three different deposits in their life and that includes keeping a certain amount of money in the Bank.

You can also apply your deposits in three different modes by placing 40% of it in the crypto space, and 30% of it in the Bank and another 30% in your trouser pocket. Because it is for your daily needs without having to go to the bank every day or always monitor your crypto wallet every day. Because if you rely solely on your deposits in the crypto space, it also puts you at risk when there is a big downturn in the market, unless you only hold stablecoins that don't have a significant increase, as well as a decline.

[boris singer]

Most people will think to leave a monthly salary of 10% or 20% and then save at banks, but when inflation occurs or bad things such as out of work he uses the money for needs and when he has not gotten any work money is up, the mistake made is Storing money in banks that will not increase, it's better to use for investment.

Saving in the bank is only an option at this time because it is difficult to save money, especially with the current conditions which are at a point where money may be at its lowest point due to inflation.
Investment is a good thing, but indeed in this case we must also be aware that when investing we must also be able to see some possibilities that occur because investment is not only about saving money and making profits.

[Synchronice]

Savings during inflation is a bad idea because take a look at this situation:
The 2020 year - I have $1000 in a hidden place at my house - inflation is 10%
The 2021 year - The purchasing power of my 2020s $1000 is $900 right now. I lost $100 out of thin air. Imagine, you didn't buy thing X to save $100 and keep our $1000 but the inflation takes that $100 out of your pocket.

That's why you need to either become a professional in a job with the best job security or always chase to create at least a small business like a restaurant or cafe or food shop that will bring you some profit.

[Mauser]

I agree with you, if you need something now there is no point in waiting. This year we are seeing inflation rates of 10+% and even for next the forecasts are already at 6-8%. Any purchase that is essential shouldn't be delayed, but any purchases that are luxury and non essential I would advice against it. The economic growth forecast are still very bad things could get worse. As for cash, there is no point in holding large amounts of it. A certain amount for emergencies is necessary and should always be kept, but larger amounts should be invested. The central banks started slowly this year to raise interest rates, and it's still going to take months for banks to give the rates to customers. And even then making 1-2% interest on your savings account is nothing compared to the inflation rate. Better to invest in stocks and crypto currencies.

[bakasabo]

Savings during inflation is a bad idea because take a look at this situation:
The 2020 year - I have $1000 in a hidden place at my house - inflation is 10%
The 2021 year - The purchasing power of my 2020s $1000 is $900 right now. I lost $100 out of thin air. Imagine, you didn't buy thing X to save $100 and keep our $1000 but the inflation takes that $100 out of your pocket.

That's why you need to either become a professional in a job with the best job security or always chase to create at least a small business like a restaurant or cafe or food shop that will bring you some profit.

Your given example can work in different way. Imagine you did not hide that thousand, but have bought something. In 2021 your loss will be $1000 in fiat, but you will have an item, that is already used and cant be sold for $1000 on aftermarket and depreciation has decreased its value. What is better in that case? $900 or "thing X" that does not cost $1000 ?

P.S. Do you know that small business will bring first profit after a long period of working with losses? Small business will be first to die during high inflation, because it cant compete with huge store and restaurant chain.

[barbara44]

Savings during inflation is a bad idea because take a look at this situation:
The 2020 year - I have $1000 in a hidden place at my house - inflation is 10%
The 2021 year - The purchasing power of my 2020s $1000 is $900 right now. I lost $100 out of thin air. Imagine, you didn't buy thing X to save $100 and keep our $1000 but the inflation takes that $100 out of your pocket.

That's why you need to either become a professional in a job with the best job security or always chase to create at least a small business like a restaurant or cafe or food shop that will bring you some profit.

Your given example can work in different way. Imagine you did not hide that thousand, but have bought something. In 2021 your loss will be $1000 in fiat, but you will have an item, that is already used and cant be sold for $1000 on aftermarket and depreciation has decreased its value. What is better in that case? $900 or "thing X" that does not cost $1000 ?

P.S. Do you know that small business will bring first profit after a long period of working with losses? Small business will be first to die during high inflation, because it cant compete with huge store and restaurant chain.

Money spend in things that you think are worth it and you enjoy is not a waste of money while the re-selling value of it will also depend on the item itself. If that was a phone or some newer kind of gadget then chances are that it will depreciate in value just a like a fiat but if it was a vintage one or kinda antique then I think things like that can become expensive the longer you hold and lastly if you buy the money with an asset such as bitcoins, its value can also rise over time.

On the business part, I think all starts with a small business and the losses are first felt before the gains so we better not give up once we think the results are not right.

[Fortify]

Saving ones money is good but could be a disadvantage during inflation. During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.

See the difference in price within 2 year. Bank can never put such difference as interest on the saved money.

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.

While inflation is a big factor as you described it, we are still barely over Covid which broke all sorts of supply chains, many jobs were lost and in some countries people were very limited with what they could do for up to 2 years. Places like China, which produce all sorts of things - from the smallest of components up to the larger finished products themselves, is currently still undergoing a weird zero Covid strategy instead of just accepting it like the rest of the world. It's bizarre to see their huge manufacturing hubs shut down with very little notice after just a handful of cases, which can cause months and maybe even years longer disruption. The war in Ukraine is also causing basic staples like food and oil to go up, which has ripples all throughout the economy.

[Silberman]

I agree with you, if you need something now there is no point in waiting. This year we are seeing inflation rates of 10+% and even for next the forecasts are already at 6-8%. Any purchase that is essential shouldn't be delayed, but any purchases that are luxury and non essential I would advice against it. The economic growth forecast are still very bad things could get worse. As for cash, there is no point in holding large amounts of it. A certain amount for emergencies is necessary and should always be kept, but larger amounts should be invested. The central banks started slowly this year to raise interest rates, and it's still going to take months for banks to give the rates to customers. And even then making 1-2% interest on your savings account is nothing compared to the inflation rate. Better to invest in stocks and crypto currencies.

You are talking about a very important economic aspect that is seldom acknowledged, this is called the velocity of money, which is a measure of how fast money is changing hands during a period of time, the more people get worried about the stability of the economy and the high levels of inflation they are experimenting the faster they spend their money on the things that they truly need, this means that no one wants to hold fiat for long and this can eventually create a vicious circle from which there is no escape.

[ultrloa]

I agree with you, if you need something now there is no point in waiting. This year we are seeing inflation rates of 10+% and even for next the forecasts are already at 6-8%. Any purchase that is essential shouldn't be delayed, but any purchases that are luxury and non essential I would advice against it. The economic growth forecast are still very bad things could get worse. As for cash, there is no point in holding large amounts of it. A certain amount for emergencies is necessary and should always be kept, but larger amounts should be invested. The central banks started slowly this year to raise interest rates, and it's still going to take months for banks to give the rates to customers. And even then making 1-2% interest on your savings account is nothing compared to the inflation rate. Better to invest in stocks and crypto currencies.

You are talking about a very important economic aspect that is seldom acknowledged, this is called the velocity of money, which is a measure of how fast money is changing hands during a period of time, the more people get worried about the stability of the economy and the high levels of inflation they are experimenting the faster they spend their money on the things that they truly need, this means that no one wants to hold fiat for long and this can eventually create a vicious circle from which there is no escape.

Inflation really hit bad for people who save money from the bank that's why instead of hiding it their with low interest rate per annum they gotten much better if they just invest it on other things which can generate them more income. And the best investment for me is on real estate since the value of property is rising over the years and also you can build a rent out properties so that you can have a continuous passive money flow for sure from doing this we can beat the inflation which is hurting so bad on normal people.

[ChiNgadOr]

I agree with you, if you need something now there is no point in waiting. This year we are seeing inflation rates of 10+% and even for next the forecasts are already at 6-8%. Any purchase that is essential shouldn't be delayed, but any purchases that are luxury and non essential I would advice against it. The economic growth forecast are still very bad things could get worse. As for cash, there is no point in holding large amounts of it. A certain amount for emergencies is necessary and should always be kept, but larger amounts should be invested. The central banks started slowly this year to raise interest rates, and it's still going to take months for banks to give the rates to customers. And even then making 1-2% interest on your savings account is nothing compared to the inflation rate. Better to invest in stocks and crypto currencies.

You are talking about a very important economic aspect that is seldom acknowledged, this is called the velocity of money, which is a measure of how fast money is changing hands during a period of time, the more people get worried about the stability of the economy and the high levels of inflation they are experimenting the faster they spend their money on the things that they truly need, this means that no one wants to hold fiat for long and this can eventually create a vicious circle from which there is no escape.

Inflation really hit bad for people who save money from the bank that's why instead of hiding it their with low interest rate per annum they gotten much better if they just invest it on other things which can generate them more income. And the best investment for me is on real estate since the value of property is rising over the years and also you can build a rent out properties so that you can have a continuous passive money flow for sure from doing this we can beat the inflation which is hurting so bad on normal people.

People have seen the reason why they don't new to save money again in the bank and they do buy what they really need now that price of goods are increasing Everytime at before the price will go worse. Inflation is everywhere and everybody is complaining about it making savings not to worth better even though the profits behind it worth the timing.

The government are not doing anything to stable the price of goods to become stable but all we could do not is rather to invest is projects like Bitcoin or to better things of other ways we can use our funds that could bring better profits to us.

[STT]

Savings are frequently inferior to commodities during inflation (but not always because nothing is easy or certain, ^instability/volatility).   There is apparent inflation and inflation of the monetary base which later becomes more obvious, we already knew this inflation was coming because of the prior monetary base expansion.   The main problem noted by central banks is constricted supply, not everyone can buy at once or the price spikes and so adds further to perceived inflation in the population leading to a run away effect.    
  Even if they cure this current outbreak of inflation its still going to be true this decade and the next that people should use money to avoid future bills, which ever method presents itself is probably quite viable.   Where as saving cash and hoping interest rates reflect or counter inflation is unfortunately usually a losing situation.   The biggest winner from the gaps left in monetary circulation is the government via its debt, the ease at which it can spend is greatly aided by the plight suffered in the populations wages and usage of national currency.   Hence many people conclude here stick with BTC, all known issuance is the same exact schedule as always which no FIAT can say similarly.

[2stout]

Best bet is if you weren't prepared for inflation this time, then lesson learned and be prepared for it next time.  Reason being is this is a great opportunity to build wealth, for example, look at the cheap prices of some of the better stocks and Bitcoin.

[andriarto]

I agree with you, if you need something now there is no point in waiting. This year we are seeing inflation rates of 10+% and even for next the forecasts are already at 6-8%. Any purchase that is essential shouldn't be delayed, but any purchases that are luxury and non essential I would advice against it. The economic growth forecast are still very bad things could get worse. As for cash, there is no point in holding large amounts of it. A certain amount for emergencies is necessary and should always be kept, but larger amounts should be invested. The central banks started slowly this year to raise interest rates, and it's still going to take months for banks to give the rates to customers. And even then making 1-2% interest on your savings account is nothing compared to the inflation rate. Better to invest in stocks and crypto currencies.

You are talking about a very important economic aspect that is seldom acknowledged, this is called the velocity of money, which is a measure of how fast money is changing hands during a period of time, the more people get worried about the stability of the economy and the high levels of inflation they are experimenting the faster they spend their money on the things that they truly need, this means that no one wants to hold fiat for long and this can eventually create a vicious circle from which there is no escape.

Inflation really hit bad for people who save money from the bank that's why instead of hiding it their with low interest rate per annum they gotten much better if they just invest it on other things which can generate them more income. And the best investment for me is on real estate since the value of property is rising over the years and also you can build a rent out properties so that you can have a continuous passive money flow for sure from doing this we can beat the inflation which is hurting so bad on normal people.

People have seen the reason why they don't new to save money again in the bank and they do buy what they really need now that price of goods are increasing Everytime at before the price will go worse. Inflation is everywhere and everybody is complaining about it making savings not to worth better even though the profits behind it worth the timing.

The government are not doing anything to stable the price of goods to become stable but all we could do not is rather to invest is projects like Bitcoin or to better things of other ways we can use our funds that could bring better profits to us.

In fact, the government did various ways to suppress inflation, and could not eliminate it. this happens every year of course inflation increases, and nothing can prevent it. especially in my country there is an increase in oil prices, so of course it will make all the prices of goods go up. the government with all its reasons give reasons. but I agree to overcome it we have to invest, and if we have a lot of money, of course the property business will be profitable. or we can start investing in bitcoin, whichever amount of money we have can be converted to btc

[Pujangga]

Savings is the most important thing as long as we live, there are many things that we need and should need money, if we don't save and only rely on active income then we will not be able to buy the things we want, especially when inflation is of course savings is a good thing to anticipate worse things.

[bakasabo]

Savings during inflation is a bad idea because take a look at this situation:
The 2020 year - I have $1000 in a hidden place at my house - inflation is 10%
The 2021 year - The purchasing power of my 2020s $1000 is $900 right now. I lost $100 out of thin air. Imagine, you didn't buy thing X to save $100 and keep our $1000 but the inflation takes that $100 out of your pocket.

That's why you need to either become a professional in a job with the best job security or always chase to create at least a small business like a restaurant or cafe or food shop that will bring you some profit.

Your given example can work in different way. Imagine you did not hide that thousand, but have bought something. In 2021 your loss will be $1000 in fiat, but you will have an item, that is already used and cant be sold for $1000 on aftermarket and depreciation has decreased its value. What is better in that case? $900 or "thing X" that does not cost $1000 ?

P.S. Do you know that small business will bring first profit after a long period of working with losses? Small business will be first to die during high inflation, because it cant compete with huge store and restaurant chain.

Money spend in things that you think are worth it and you enjoy is not a waste of money while the re-selling value of it will also depend on the item itself. If that was a phone or some newer kind of gadget then chances are that it will depreciate in value just a like a fiat but if it was a vintage one or kinda antique then I think things like that can become expensive the longer you hold and lastly if you buy the money with an asset such as bitcoins, its value can also rise over time.

On the business part, I think all starts with a small business and the losses are first felt before the gains so we better not give up once we think the results are not right.

Synchronice was talking not about "things that you think are worth it and you enjoy". He just had $1000. If he wanted to have something to enjoy or valuable, he would have spend this thousand on it. But he did not. That is why I though that if he would buy something, that items value will only go down. As to vintage or antique items - it is clear that their value could increase, but there are no guarantee of it. Besides it is not easy to sell such item; because among all the people on the planet, the amount of collector are not very high. It might turn, that buying vintage or antique items is an instant money loss, because who need old stuff ?

[Obito]

Best bet is if you weren't prepared for inflation this time, then lesson learned and be prepared for it next time.  Reason being is this is a great opportunity to build wealth, for example, look at the cheap prices of some of the better stocks and Bitcoin.

Not anyone can prepare for inflation though, not all people have the money to save because they live from paycheck to paycheck. I don't think that you would understand that if you haven't live in a household that relies on minimum wages. Your suggestions are good and I am sure that they are of pure intention but not anyone can be like you.

[Kadal Ijo]

An interesting thing is whatever we can save during inflation, of course not many people can saves when inflation, needs and the number of prices that skyrocket is certainly a reason for the difficulty of savings, in fact most people will borrow during inflation.

[Fara Chan]

During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now  around #85,000.

For new items or products that you have displayed, the price is likely to increase over time, but different when the item is used, the selling price will decrease from the previous purchase, this example is more appropriate for people in need, but not in the general category

CONCLUSION
During inflation, always purchase all you need on time without delay to avoid rapid increase of such commodity.

I don't think the items you've shown don't fall into the necessities category, so it's impossible to buy them just for storage. If we insist on buying, then we only need one item, which means this is also not suitable in my opinion. Because for some people, goods are tailored to the needs to be purchased. Inflation occurs due to several factors, but to compare examples like this, I think it's still relatively common.

[Rockstarguy]

Saving ones money is good but could be a disadvantage during inflation.

Saving money to start up an investment is a good plan, but Saving a reasonable amount of money without having any plan to do with is totally a big waste because after some time the money can lose value by 50% . It is better to start up a business that will yield double of the capital.  It was sometimes back when the rate of inflation was stable and not increasing within short time, then one can consider to save money if no plans on how to invest it. Because of the economy is fragile it is important to invest money so that as inflation takes place money won't lose value.

[Republikcoin.com]

Wrong idea if we only rely on savings, money will not increase but decrease due to the influence of inflation and very low bank interest, don't save money in savings, but the best thing is to use it for investment, of course there are risks but with a lot of learning then we can get big profit.

Learning while practicing is also much better. Actually investing is a job that is far from being forced by everyone who can afford it so there is no need to put all their money into investment if after investing they have to refrain from eating and drinking. Saving money is clearly needed for life because money is a tool that is always used every day to meet the needs of life and the rest is for a good investment, meaning that investment is made with money that is not used for everyday use so that everyone can be more patient when they have to face risks. of their investment.

[Altryist]

Saving should have a purpose. It could be for emergency purposes or for our future investment. We have to make sure that we're still making money out of it. Saving might sound hard during this crisis but as much as possible, we should still save for us to have a profitable investment in the future.

Saving money is not easy, you need good discipline for this. It is also important to understand what you will do with them later. Money should work, if it lies idle, then sooner or later it will go to someone else who knows what to do with it. You need to generate assets that will make a profit, and the more assets you have, the more profit you will receive. Investing money in a bank is pointless, very little profit, with too high risks.

[boris singer]

Saving should have a purpose. It could be for emergency purposes or for our future investment. We have to make sure that we're still making money out of it. Saving might sound hard during this crisis but as much as possible, we should still save for us to have a profitable investment in the future.

Saving money is not easy, you need good discipline for this. It is also important to understand what you will do with them later. Money should work, if it lies idle, then sooner or later it will go to someone else who knows what to do with it. You need to generate assets that will make a profit, and the more assets you have, the more profit you will receive. Investing money in a bank is pointless, very little profit, with too high risks.

Money has to work. I agree with what you say because basically the earliest thing to say was money has to work but what is happening now is just the opposite because there are still a lot of people who are employed by money.
And this is also what makes us unable to save and it is very difficult to save money because in this case our Mindset has been set that even though we do not feel but we have been employed by money.

[Agbe]

The government are not doing anything to stable the price of goods to become stable but all we could do not is rather to invest is projects like Bitcoin or to better things of other ways we can use our funds that could bring better profits to us.

inflation in the third world nations are some else. Let me use Nigeria as the cause of the discussion. Nigerian government established agencies to regulate the inflation of goods and service in the countries but these agencies are dysfunctional. Such are: CPC, ICPC, EFCC, SON, NDLA, etc. These agencies are to regulate the prices, high consumption rate, and  to check mate the Standard of goods and also to check the goods before consumers buy them but all those agencies are dead because the government is also guilty of the crime. The government can not do anything because they are also Part and parcel of the inflation policy. The government is mute because they are benefiting from the inflation. Bitcoin can not reduced inflation even though you invest in it. It is the government duty to create enabling environment for projects for business and when the government is corrupt every other things have spoiled.

[lalabotax]

Savings is the most important thing as long as we live, there are many things that we need and should need money, if we don't save and only rely on active income then we will not be able to buy the things we want, especially when inflation is of course savings is a good thing to anticipate worse things.

I think saving isn't the most important thing, investment should be more important than saving.
If we only do saving, we can't multiply our money. We only keep money without the opportunity to gain a bigger amount of money in the future. If we care about our future, we must think about investment too. During inflation, we may experience a decrease in our regular income. But it is a good time to invest in valuable things since everything is decreasing in price. We can buy something to invest at a cheap price.

[BRINIRHA]

Many people are late in saving and investing, most people are wasteful when they have money and large income, but when inflation is important is saving and making a lot of investment, when inflation is of course many things that are difficult to predict so that with saving then we can save finances.

That is correct and I am one of them
I have realized it late and we all must have some emergency funds to help our needs.
And you should not disclose your secrets to anyone - especially the financial secrets. I made alot of mistakes in my life and I am not going to do that again.

Saving requires high discipline and discipline can be formed by getting used to it little by little. but when inflation takes place sometimes we find it difficult to manage finances. because we need to adjust the needs that must be purchased. because the goods we usually buy will certainly increase due to inflation. so the funds to save sometimes become reduced. because now we need to spend more money for daily shopping. because the price of basic necessities continues to increase.

[Awwal08]

I think saving isn't the most important thing, investment should be more important than saving.
If we only do saving, we can't multiply our money. We only keep money without the opportunity to gain a bigger amount of money in the future. If we care about our future, we must think about investment too. During inflation, we may experience a decrease in our regular income. But it is a good time to invest in valuable things since everything is decreasing in price. We can buy something to invest at a cheap price.

I agree with what you said in times of investment but do you think investment is the solution to this, not everyone have mind to invest their savings, not everyone knows how to invest, not everyone is interesting in any investment. During the inflation both the people that make savings and the people that make investment faces the same problem.

[STT]

Save with a food bank is most valid, anything you use and can keep for a year time period becomes a type of savings quite valid for any family to build up.  This isnt unknown, its just become less common in the times of 'Just in time' delivery and modern consumerism where trends are actively decided within a year, rising only to fall with months we arent as familiar with the concept of reserves.
  Some people can do this more easily then others, some buy a years worth of energy in their heating oil perhaps but everyone can store a years worth of food and other similar household requirements.   The point being if inflation is well over 5% or 10% even then you gain some yield on your holdings for a year and its quite justified to do so presuming the discipline is there to keep only the same steady rate of usage.

[Xiaomie A1]

I agree with what you said in times of investment but do you think investment is the solution to this, not everyone have mind to invest their savings, not everyone knows how to invest, not everyone is interesting in any investment. During the inflation both the people that make savings and the people that make investment faces the same problem.

Do you agree with someone on what investments?
Because investment can be done at any time by those who like it, but it would be better if the investment was made when there was a decline in prices in the market and your country's environmental conditions were not inflationary. Because investing when inflation arrives or is happening, it will also not solve problems such as inflation. Because inflation control is carried out before inflation occurs, not when it has occurred or is happening.

[Baofeng]

Many people are late in saving and investing, most people are wasteful when they have money and large income, but when inflation is important is saving and making a lot of investment, when inflation is of course many things that are difficult to predict so that with saving then we can save finances.

Of course, it is being to start very young in investing, you will have a lot of advantage. Obviously, time will be in your side plus you can retire early with good amount of money as compare to people who have invested very late and even if they double what they want to invest.

You can't trust fiat enough to stand as a strong hedge over inflation. Any amount cooling in the bank is never the owners because the government can decide to do what ever the wish to it when ever the chose to. Investing is Bitcoin since 2020 would have given more value to your fiat and also increased your purchasing power

It's no secret that saving your money in a bank won't beat inflation. You have to find a better method, you can either invest in in physical assets like real state, or like the majority of us here, bitcoin is the better choice, It could be very volatile, but in the end, you will make a lot of money and won in this inflation as compare to just keeping it a bank.

[iv4n]

You can't trust fiat enough to stand as a strong hedge over inflation. Any amount cooling in the bank is never the owners because the government can decide to do what ever the wish to it when ever the chose to. Investing is Bitcoin since 2020 would have given more value to your fiat and also increased your purchasing power

People still don't get this... not your keys, not your money! Aside from people who are in crypto already, others don't have a clue that banks can do whatever and people will stay without options, we depend on them and they know it, one of the reasons why they keep making tons of money every year.
I think the time is coming when people will have to decide whom to trust more, corrupted banks or decentralized coins and algorithms. And before that, they will need to learn what "not your keys, not your coins" truly means!

[Inwestour]

People still don't get this... not your keys, not your money! Aside from people who are in crypto already, others don't have a clue that banks can do whatever and people will stay without options, we depend on them and they know it, one of the reasons why they keep making tons of money every year.
I think the time is coming when people will have to decide whom to trust more, corrupted banks or decentralized coins and algorithms. And before that, they will need to learn what "not your keys, not your coins" truly means!

In China, people now understand this very well, when the banks were not able to give their own money. The same thing can happen in any other country if all people at the same time want to withdraw their money from the banks, but they will not do this because they are afraid to destroy the system in which their investments are located. People think that the banking system is clear to them and they "trust" it.

[BRINIRHA]

Saving some money in the bank when inflation will be very detrimental. because the value of the money we save will actually continue to shrink. as exemplified by the OP. Prices of goods continue to increase during inflation. if inflation continues then for example if today we can buy a bicycle for $ 100 then 2 years later I'm pretty sure the price of a bicycle can reach $ 200. so if we have money now $100 and we save it in the bank. and 2 years later we took the $100 bill. then know that even though the amount of money is intact, its value has dwindled. because the price of goods must have increased in the next 2 years.

That's why investing is sometimes more profitable than saving in times of inflation.

because of inflation many sectors are harmed.
The following are the parties who are disadvantaged during inflation, namely:

1. People who save money
 unconsciously the money they save continues to depreciate in value. because the price of goods continues to increase during inflation.

2. those who don't have a home
those who are homeless are the losers during inflation. because house prices will continue to rise. So buying a house becomes difficult because prices continue to increase.
those who rent a place to live will also find it difficult during inflation because the rent burden will usually be increased by the owner of the rent.

3. retirees
those who receive pension funds also suffer losses during inflation. because the amount of currency they regularly get from pension funds is not the same in value. because the value of the currency continues to decline during inflation. and prices of goods continue to rise during inflation.

and there are many other parties who are disadvantaged during inflation. then this is where the importance of maintaining the value of our assets. instead of keeping the amount of our money. because the value of money can decrease during inflation. then investing in goods and properties whose prices continue to increase during inflation is the right thing

[jossiel]

earlier during COVID people have made subscriptions to the Netflix and that has brought so much revenue to the company
Now the people are unsubscribing to save a few bucks.
Inflation is a killing factor - physically and mentally both

It's because everyone is realizing that every buck that they earn is very important these days. Before, there were no conflicts, not that much inflation and that's why life was easier before and we can spend wherever we want and with these subscription based services. Most of them were okay to us.

But this time, everything that we don't need necessarily can easily be cut off and use the money to more important things like our basic needs.

Yeah, inflation really sucks and that's why we should be wise and man up with our spending habits.

[Fatunad]

It's not worth it to save your money in the bank if the inflation rate is higher than the percentage it gives to the interest rates. It's better to spread it to investments that has a higher percentage than the inflation rate because it will make you deal with the high prices of commodities through it.
I rarely save to the my bank accounts these days but I still try to put as much as I can so that, I treat it as an emergency fund but at most times, I convert it to bitcoin.

yes, indeed, if there is more money, it is better to use it to buy bitcoin, because if we buy bitcoin it will be safer, as long as we buy it at a price when bitcoin is down, and so am I when I receive my salary I always set aside to save bitcoin only , because it is safer when inflation is like today.

earlier during COVID people have made subscriptions to the Netflix and that has brought so much revenue to the company
Now the people are unsubscribing to save a few bucks.
Inflation is a killing factor - physically and mentally both

There are services and products which did really fly out with colors or making much revenue into those pandemic times where people are just sitting in their own homes but now that things is going back to normal
then it would really be not surprising that everything would really back to normal as well into those companies who had made out such money and to those who havent or been wrekt up.
Speaking about savings then this would be a personal type of condition since not all would really be that keen on doing so but we know on how crucial or much preferred on having savings
despite of the inflation that we are facing on.We dont have any choice because this is something inevitable thats happening.

[Vaskiy]

Savings during inflation gives hand, but here we need to be so careful in choosing the method of saving. Earlier we've got the access to save only the fiat currencies. Now things have changed and anything is possible in the fingertips. So, good is to save in the form of inflation free assets. It can be cryptocurrency or something else that assure with long term profit.

[Pumared]

CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

I disagree with your placement. It makes sense, but if you can organize yourself before the inflation cycle, which in this case was predictable, you could do well.

Diversifying your investments into various assets could already help in gains and mitigate losses. Again, your placement makes sense, but it would be possible to avoid it.

[BuNga_cute]

Savings during inflation gives hand, but here we need to be so careful in choosing the method of saving. Earlier we've got the access to save only the fiat currencies. Now things have changed and anything is possible in the fingertips. So, good is to save in the form of inflation free assets. It can be cryptocurrency or something else that assure with long term profit.

We really have to be careful when we are going to save and invest during inflation, my advice is to avoid saving fiat whose value continues
to decline. I don't even really recommend investing in bank products. Which is usually not only the value of bank products continues to decline,
bank products also usually offer a small interest. That's why I prefer investing in crypto, which avoid us from inflation, and also investing in crypto
can generate huge profits. Assisted by technological advances, it is easier for us to invest in crypto. We just have a personal wallet to store crypto
in the long term, if our crypto choice is good, we can make big profits. Most importantly we only need to choose a potential cryptocurrency,
after that choose a wallet that can provide excellent security. After all, crypto is very affordable for us to buy compared to investing in real estate.

[Sebas.tian]

You can't trust fiat enough to stand as a strong hedge over inflation. Any amount cooling in the bank is never the owners because the government can decide to do what ever the wish to it when ever the chose to. Investing is Bitcoin since 2020 would have given more value to your fiat and also increased your purchasing power

Yes, those that invested in Bitcoin 2020 really achieved something good from their investments few months ago, because they decided not to save the money in the bank than to invested the money on Bitcoin against future purpose. I think, during this inflation the best place to put your money or invest your money is Bitcoin because the price has decreased to $18,000 for many that wish to buy now to embrace the opportunity to buy and hold until the price of Bitcoin increase higher before they can sell to make a passive incomes.

[batang_bitcoin]

Savings during inflation gives hand, but here we need to be so careful in choosing the method of saving. Earlier we've got the access to save only the fiat currencies. Now things have changed and anything is possible in the fingertips. So, good is to save in the form of inflation free assets. It can be cryptocurrency or something else that assure with long term profit.

I think that most assets are affected by inflation and that's why even if you want to save, you can't avoid that.
Looking at the chart of various currencies in the world, it is USD that's going up but living in the US is also becoming hard for the average people. But saving such as cryptocurrencies, despite it's also being affected, it's one of the assets that can go against inflation especially to the cryptos that are deflationary currencies like bitcoin. Now, it's seen to be going with the whole market and economy but soon, it'll be tied out from it.

[Finestream]

First off those generators look different and is that a marketplace site like eBay ? I’m not sure that accurately depicts the difference due to inflation. You do have a good point, savings accounts during high inflation times are essentially losing money, but that doesn’t mean you should be saving money like that. It’s still important to have cash on hand in case of emergencies. Also, if you do need to be storing money in savings, make sure you find high yield savings: example .. in the US a Chase Bank savings account rate is around .01% however if you choose an online only bank like Ally, their savings rate is 2%.  

As far as saving money is concern, whatever investments you have even in this time of inflation, it’s still important to have at least good amount of savings either for emergency purposes or maybe for additional investments in the future. However, this isn’t required as you only have to save when you have extra money. Other than that, if you have small profiting investment, then think of other investment or business that will create big profits that will enable you to save even with the verge of inflation.

[adzino]

You will always lose money in the long run if you hold and save your money in the bank. Bank interest rates can never beat the inflation rate. The value of the money goes down, the price of the goods increases like you have shown in the picture.

You don't need to always purchase what you might need so that you don't get hit by the inflation. Better to invest and keep the money flowing. If you have money that you won't need, invest in bitcoin or other well known crypto currencies.

[fullhdpixel]

Savings during inflation is a bad idea because take a look at this situation:
The 2020 year - I have $1000 in a hidden place at my house - inflation is 10%
The 2021 year - The purchasing power of my 2020s $1000 is $900 right now. I lost $100 out of thin air. Imagine, you didn't buy thing X to save $100 and keep our $1000 but the inflation takes that $100 out of your pocket.

That's why you need to either become a professional in a job with the best job security or always chase to create at least a small business like a restaurant or cafe or food shop that will bring you some profit.

Your given example can work in different way. Imagine you did not hide that thousand, but have bought something. In 2021 your loss will be $1000 in fiat, but you will have an item, that is already used and cant be sold for $1000 on aftermarket and depreciation has decreased its value. What is better in that case? $900 or "thing X" that does not cost $1000 ?

P.S. Do you know that small business will bring first profit after a long period of working with losses? Small business will be first to die during high inflation, because it cant compete with huge store and restaurant chain.

The thing you bought for 1000 ends up being 1100 next year after 10% inflation, which means you saved money but the question is will you be able to convince yourself that you wouldn't make more than that if you kept it? If you were going to spend on something else, or just keep it hidden in your house then it is better to buy that equipment, but if you want to buy bitcoin and hope that you could profit then you could turn your 1000 into 1500 dollars and spend that 1100 instead of 1000, and still have 400 left. That's the question people's minds.

Recently I purchased a PC and in my nation PC taxes are 100%, so I probably bought it by paying more than any of you, but it was a good deal because I am 100% sure that the price would go up a lot more than what I paid for it in a few months let alone a year.

[Cookdata]

For now saving is a difficult thing I do. When inflation of course there will be a lot of routine expenses that skyrocket, I also feel that the impact of inflation that starts from food is skyrocketing more than 10% compared to the beginning of the year, of course the thing I do is to continue to take deposits so that now the savings in banks are getting smaller.

Whoever brings the idea of saving the need to be giving some slash of canes, the concept has never been helpful even for an emergency purpose. The principles of savings and economy are inversely proportional, as one is being eaten up by inflation as the general increase in the price of goods and services, and the other is losing value day by day, that's why even the banks that encourage savings don't actually keep your money with them, they re-invest them into corporate business and loan them out to the same loyal customers with interest on them.

[The Sceptical Chymist]

A time like this, it is good to go for asset like bitcoin as investment, going for bitcoin now would also be an hedge against inflation over years, just as it was in the past.

Bitcoin can be a speculative asset, but investing when the price is significantly low is a profitable investment strategy and also would be a hedge against inflation, that is what I mean.

Not sure I agree bitcoin (or any crypto) is a hedge against inflation--or even if there really is a good one, like precious metals.  In investing or even stocking up on durable goods for the future, everything depends on what price you bought in at.  And like my doubts about there being good inflation hedges, when exactly is bitcoin "significantly low"?  It's not like you can look at its price/earnings and get a ballpark sense of whether it's undervalued, like you could with a stock.

I'm guessing there were people who thought bitcoin was cheap at $63k.  Whoever bought at that price hasn't been hedging anything, much less making a profit.

OP, generator prices can be seasonal or fluctuate during crazy weather.  Did any of that come into play in your example?

[Doan9269]

The only method to savings i can advise during inflation is to invest on digital currency like bitcoin and have your investment work for you over time than buying liability items, businesses failed and prices got hiked during inflation and thereby the price of commodity increses and the value of money decreases within that specific period, but one of the best solution is to go with an economy that is free from inflation whereby the value of your asset has such tendencies to increase over time instead of decreasing with fiat currency over time.

[cheezcarls]

Yes this is why I do not save much in a bank. Usually one of my closest friends have advised me that if I had some decent amount of cash I should be putting it in a time deposit. But what she didn’t realize is that once she put that money in the bank, she doesn’t fully own it. In other words, it’s not in her full custody.

No disrespect though. But on the other hand, she also invested some BTC, ETH and BNB with her extra spare funds. But she stores it in a CEX and not a hardware wallet. I saved most of my money on Bitcoin and put it in a hardware wallet to ensure that it’s really safe rather than relying on a CEX or a non-custodial wallet that was created in the internet.

[GelatikKembar]

The only method to savings i can advise during inflation is to invest on digital currency like bitcoin and have your investment work for you over time than buying liability items, businesses failed and prices got hiked during inflation and thereby the price of commodity increses and the value of money decreases within that specific period, but one of the best solution is to go with an economy that is free from inflation whereby the value of your asset has such tendencies to increase over time instead of decreasing with fiat currency over time.

saving up in inflation is a real hard job - esp in COVID - but the rich countries have give so much support and aid to the people
Some of the people who timely clamined their funds were in good situation then those who were sleeping and watching netflix all the time

It is not easy to save when the economy is in inflation and the fact is that it is.
they have to think about making ends meet so I don't think there's time to save,
but again, everyone has different economic conditions regardless of current conditions

[erep]

It is not easy to save when the economy is in inflation and the fact is that it is.
they have to think about making ends meet so I don't think there's time to save,
but again, everyone has different economic conditions regardless of current conditions

The inflation rate is increasing so we have no money to save because consumer prices for all items have increased in this year, food prices have increased, energy prices, even fuel. All basic needs have now increased so that the middle class economy still has enough money to save and the lower economic class can only work hard to get their daily needs due to the increasingly crisis economic condition, based on economic data showing the most extreme increase for this year , many aspects experienced a significant percentage change increase that had never occurred in the previous year.

[Pumared]

It is not easy to save when the economy is in inflation and the fact is that it is.
they have to think about making ends meet so I don't think there's time to save,
but again, everyone has different economic conditions regardless of current conditions

The inflation rate is increasing so we have no money to save because consumer prices for all items have increased in this year, food prices have increased, energy prices, even fuel. All basic needs have now increased so that the middle class economy still has enough money to save and the lower economic class can only work hard to get their daily needs due to the increasingly crisis economic condition, based on economic data showing the most extreme increase for this year , many aspects experienced a significant percentage change increase that had never occurred in the previous year.

In relation to inflation, distributing income is sometimes not a bad thing for the economy, as long as the money being "given" is used to generate value. For example, expand a company, start a business.

In the case of low-income people, they will spend on essential items, but in the end they will be financing the entire chain of companies that generate food.

In the end, inflation in these cases isn't that bad.

[Tony116]

You will always lose money in the long run if you hold and save your money in the bank. Bank interest rates can never beat the inflation rate. The value of the money goes down, the price of the goods increases like you have shown in the picture.

You don't need to always purchase what you might need so that you don't get hit by the inflation. Better to invest and keep the money flowing. If you have money that you won't need, invest in bitcoin or other well known crypto currencies.

Today, to avoid inflation, we should all have an investment and a savings account. In my opinion, even though currency devaluation is happening on a daily basis, it is still best to save in fiat because life is not always what we expect. Also, it is not recommended to invest all the excess money in bitcoin or cryptocurrency, it is not safe because the volatility of the cryptocurrency is too great. Sometimes need money but we are in bear market like now, bitcoin value drops to 60% then we can hardly sell. Everyone should have an investment for life as well as future but always diversify, invest in bitcoin and invest in gold for financial balance.

[YUriy1991]

Lastly, investing is highly preferable to savings.

Personally, I think most of us would rather invest than save during inflation because investing is done with a business model. After all, where there is no risk, there is no reward.

However, if inflation runs higher than the interest rate you receive on your savings. In other words, what would happen if things turned around? Well, if your money is kept in a bank that doesn't pay interest and inflation supports price increases, then your savings will have less value. We will definitely get a poor return on our savings.

Generally Investing is something that many people don't do because of their ignorance. It is a known fact that most people do not have their own financial advisor.

[Jatiluhung]

when inflation is rising. saving some money (in the form of money) is the most risky thing. Because when inflation almost all currencies experience a decline in value (not all). so that the value of money becomes unable to keep up with the rate of prices of goods that continue to increase due to inflation. we must really look for alternative ways to protect the value of money or the value of the assets we have so that they are not too affected by inflation.

And how to save in the form of money is the most to be avoided. especially if you save your money in the bank it will absolutely not make the value of your assets increase. will even decrease. because the interest rate given by the Bank is not proportional to the decline in the value of the currency itself.

maybe not much choice if the money we have to save is not so much. besides we have to make business capital so that our money continues to flow and make a profit from the business. but it is also a risky thing if the business to be managed is still speculative.

maybe the alternative path that can be chosen is to save it in Gold and Property.

[tygeade]

The thing you bought for 1000 ends up being 1100 next year after 10% inflation, which means you saved money but the question is will you be able to convince yourself that you wouldn't make more than that if you kept it? If you were going to spend on something else, or just keep it hidden in your house then it is better to buy that equipment, but if you want to buy bitcoin and hope that you could profit then you could turn your 1000 into 1500 dollars and spend that 1100 instead of 1000, and still have 400 left. That's the question people's minds.

Recently I purchased a PC and in my nation PC taxes are 100%, so I probably bought it by paying more than any of you, but it was a good deal because I am 100% sure that the price would go up a lot more than what I paid for it in a few months let alone a year.

There is a fine line between these two things. If you end up spending it, then you would be spending it at a moment when you know it will go up in price later on so it is easier to buy right now. But when you are investing into things knowing full on well enough that you are going to end up not using it, or not really have a place in your life, then it is better to save it.

So, you need to ask yourself this question very very well, will you be wanting it months, even a year down the line? If you do, then it is better to buy now and even make a debt, because you will buy it for more expensive price later on, so you should at least pay less right now, but if not then saving it is better.

[Bazzu]

indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.

[carlfebz2]

indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.

if you are comparing the prices with last year than this is not a good comparison
in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap

If we do only talk only that casual year to year basis then you would really be having that kind of the same concept which is inflation do really hits hard.Its true that you wont really be feeling up these inflation

if you do have various source of income which simply means that you arent just depending on your 8-5 job.Sad to say which majority of us do really stick or earning up on this way which
we dont really have any choice.

This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.

[Pumared]

indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.

if you are comparing the prices with last year than this is not a good comparison
in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap

(...)

This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.

This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.

[Smitty Werben Man Jensen]

Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.

Well, if there is no option but to sell some assets that you own just to survive and make your ends meet.  Then you have to do it without hesitation.

I would say some and not all, but if you are in a very tough situation and you have no option then you just have to sacrifice and restart again until you survive and get those assets back again.

It depends on the difficulty level of our condition and if the conditions are really difficult I think deciding to sell everything is not a bad decision,
this is life where conditions will not always be what we want,
the most important thing is to consider before selling assets

[Jatiluhung]

Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.

The impact of inflation is felt by almost everyone. So it's no wonder people sell their assets to survive. But selling an asset that we have to be used as capital is a wise move. rather than we sell assets and immediately use the money from the sale without being used as capital first.

if we use the proceeds from the sale of assets to be used as capital, it is hoped that we can maintain that capital and only use the money from the profits of the business that we build. be it from trading or whatever.

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

[Paul Pogba]

The good thing when inflation is to continue to save, focus on the goal that we must become better, by saving it will automatically reduce consumption so that we can choose which needs can be reduced or eliminated.

[Vinaa77]

👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

If inflation occurs, of course, the local currency will decline against the exchange rate. This will make the price of goods higher. However, we cannot predict when inflation will occur, so buying goods that are too excessive will also not be profitable. I think if we feel that a country will have inflation, it would be better if we buy gold, and save it.

Because gold is anti-inflation, and can be used when the country is in inflation. If the price of gold before inflation was $ 62/gr, then after inflation we can sell at a high price. So that we can buy other goods even though the country is in inflation. Maybe now we can use Bitcoin as an alternative investment to overcome inflation.

[Hamphser]

indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.

if you are comparing the prices with last year than this is not a good comparison
in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap

(...)

This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.

This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.

Just some point to add up though that you shouldnt really be saving up lots of fiat into your bank account which we know that it is prone to inflation.Make it work via investment which would generate income.

And just on what carlfebz2 said that diversify as much as you could so that you would be able to sustain whenever prices would soar up high.You wont really be that stressing yourself on surviving on daily needs
and could still live on the life that you are getting used to.

Year by year it do becomes even more worst.

[kro55]

👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

If inflation occurs, of course, the local currency will decline against the exchange rate. This will make the price of goods higher. However, we cannot predict when inflation will occur, so buying goods that are too excessive will also not be profitable. I think if we feel that a country will have inflation, it would be better if we buy gold, and save it. Because gold is anti-inflation, and can be used when the country is in inflation. If the price of gold before inflation was $ 62/gr, then after inflation we can sell at a high price. So that we can buy other goods even though the country is in inflation.
Maybe now we can use Bitcoin as an alternative investment to overcome inflation.

If saving, I also recommend gold as saving better than saving in fiat, because gold will be more stable, the possibility of reduction is still there but not too much. We must always have a savings, otherwise our life is easy to get into trouble because life is always full of surprises.

Bitcoin should only be seen as a long-term investment, in the long run it actually works against inflation. but in the short and medium term, it is not suitable as a place of savings or a safe haven against inflation because of its high volatility. Look at the current situation, bitcoin plummeted because of the effect of inflation and Fed rate hike.

[Pumared]

indeed when inflation is now the prices of electronics, food and so on are all rising, the prices are not like last year, and this is because of inflation and almost all countries in the world are affected by inflation, but of course during inflation we must be really patient in facing difficulties. but what you say is true, investing is better than saving, especially in times of inflation like today. because with investment of course our money will increase as long as we can choose where we invest quality.

if you are comparing the prices with last year than this is not a good comparison
in our country we are comparing price with the last week and last months.
The only end to this inflation is that you earn a lot of money and get out of the situation asap

(...)

This is why if you dont like on ending up yourself struggling when it comes to finances then make a move and thrive yourself
on earning on different sources.Its hard but you should work and do your best on achieving this.

This is the ultimate idea when it comes to investing for the long term. Diversify as much as possible, so you don't depend on luck and expose yourself on several fronts.

Just some point to add up though that you shouldnt really be saving up lots of fiat into your bank account which we know that it is prone to inflation.Make it work via investment which would generate income.

And just on what carlfebz2 said that diversify as much as you could so that you would be able to sustain whenever prices would soar up high.You wont really be that stressing yourself on surviving on daily needs
and could still live on the life that you are getting used to.

Year by year it do becomes even more worst.

Yes, diversification with all your money is very important. All money needs to return more money, if it stops you have a big problem. Diversification is the way

[Vzae]

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

[Wawa2013]

Not everyone thinks of saving when inflation, most people will empty the balance to meet the needs, and I also feel the big impact of the inflation that occurs is continuing to take savings, now I try to sell assets for me to use business capital so that I can get out of difficulties finance.

Well, if there is no option but to sell some assets that you own just to survive and make your ends meet.  Then you have to do it without hesitation.

I would say some and not all, but if you are in a very tough situation and you have no option then you just have to sacrifice and restart again until you survive and get those assets back again.

It depends on the difficulty level of our condition and if the conditions are really difficult I think deciding to sell everything is not a bad decision,
this is life where conditions will not always be what we want,
the most important thing is to consider before selling assets

Consider it first.

Maybe that's not the only way and solution and there could be other ways before selling all of the assets that you've got. It's a situational thing to decide because you may want to keep at least a few of it.

Because you can have hard time of having those assets again upon selling but, if you really think that you can do it and you've got a plan then just follow what your will is telling you.

I agree that we should not rush in making a decision to sell our assets, we must be able to think calmly to find the best solution.
Because  sometimes there are other ways to solve the problems we experience without the need to sell our assets, especially if the assets,
we have accumulated for a long time, it will be painful if we have to sell them. But if there is no other way, and the last option to solve our
problems is to sell our assets, we have to do it. But make a lesson that we must have more than one source of income, so if we have problems,
we don't need to sell our assets. Because the assets we collect should be for our retirement plans in the future.

[RealMalatesta]

Yes this is why I do not save much in a bank. Usually one of my closest friends have advised me that if I had some decent amount of cash I should be putting it in a time deposit. But what she didn’t realize is that once she put that money in the bank, she doesn’t fully own it. In other words, it’s not in her full custody.

No disrespect though. But on the other hand, she also invested some BTC, ETH and BNB with her extra spare funds. But she stores it in a CEX and not a hardware wallet. I saved most of my money on Bitcoin and put it in a hardware wallet to ensure that it’s really safe rather than relying on a CEX or a non-custodial wallet that was created in the internet.

I do agree on the part where I put all my money in Binance so I understand your friend and why they did that, but at the end of the day putting it in the bank would be a terrible idea and I do not understand why that would be an easy decision to make for some people.

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

[Aryan058]

The Saving is the very important thing because in any kind of emergency the saving can help in survive. Savings during inflation is more important.

[ningrum]

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

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

[Wong Goblog]

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

[Punakawan]

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

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

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

[awik p]

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

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

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

[posi]

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

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

[TribalBob]

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

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

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

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

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

[dunfida]

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

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

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

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

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

[Maidak]

~snip~

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

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

[Altryist]

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

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

[Desscount]

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

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

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

[Tallupooh]

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

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

[jerry0]

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

[Jatiluhung]

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

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

[livingfree]

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

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

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

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

[Desscount]

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

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

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

[Cookdata]

~snip~

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

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

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

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

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

[uneng]

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

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

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

[Moeda]

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

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

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

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

[STT]

Can I point out the obvious that we've been having inflation or losses in currency for (over)twenty years, its only been a question of how much small or large amounts lost to the money printing machines.    Its quite obvious government deliberately overspend and make up the difference by creating more money and loading the loss of value on the back of currency holders.  By far the greatest losses are borne by the common wage earner right at the bottom of the economic stack, they have the least assets and the greatest reliance on paper holding its value before they can spend it; where as those holding debt and/or with large working assets benefit massively from easy money policy.

[Fatunad]

Can I point out the obvious that we've been having inflation or losses in currency for (over)twenty years, its only been a question of how much small or large amounts lost to the money printing machines.    Its quite obvious government deliberately overspend and make up the difference by creating more money and loading the loss of value on the back of currency holders.  By far the greatest losses are borne by the common wage earner right at the bottom of the economic stack, they have the least assets and the greatest reliance on paper holding its value before they can spend it; where as those holding debt and/or with large working assets benefit massively from easy money policy.

Inflation does really give out advantage to those who do have long term debts and this is where most people doesnt really know about.Inflation do really give out that negative impressions and feels which most
people been seeing but they dont realize that real thing which it could really be an advantage if they do just know on what are the other things that they could really be able to deal with.
I dont save up on banks on fiat cash and i do rather be putting it on an investment or business which it could really make me sustain at least.
Well, it do depends on someones prerogative on what are the things that they would really be doing.

[odunybiz]

Savings in the bank guarantees interest but the thing is, you just can't keep up with the inflation.

You are right about getting interest in saved money in banks but this interest is too small when compared to the the rate of inflation.

[tabas]

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

I've been following the strategy of rich folks and I've got one mistake of not having cash ready as this event isn't anticipated by me. Most of my investments are in cryptocurrencies and I've got not that much cash at all. Because if I've got, even if there's an inflation, it's the best time to buy other traditional assets for which some are starting to depreciate due to it.

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

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

That's the other side that I can see if you've got cash ready, you're prepared to buy assets like real estates which can be used later for passive income through rental.

[Ryu_Ar1]

Saving is indeed a good step but on the other hand what if it happens like this.


Actually I read this news a few months ago and the article even exists from 2021 but because I only think of it as a joke, especially since it is China, I ignore it.
But recently I read that they are already implementing and testing this in their digital currency.
Even though it was really hard for me to find information about this because it was really difficult to find news about China, but there were some things that I read about this.

So if this is indeed being held for paper money, can we still save? I personally prefer investing to saving although I still agree with saving but if I had to choose I would prefer to be in investing than saving.

[Sebas.tian]

Savings can definitely help you a great deal, let us imagine a scenario when you won't have much saved money but would definitely have loads of commodities, which you can sell during inflation to somehow arrange it, but what you would need is a ' buyer ' during inflation this can be a problem as well therefore I do think you need to realize that no savings are unnecessary, ofcourse the money does not hold the same value as it did 10 years ago but it's still worth something, i always think that property investment would be a great deal! Since this would not only help you to have a better backup but at the same time it would also pave way for the future as well.
Invest in property
Invest in cryptocurrencies like bitcoins
Invest in education

I agree with you, investing in property, Bitcoin and education will really help you to have a beautiful hope in future because all those financial assets are good for humanity to improve higher on time in the community. Investing in Bitcoin in this bearish season will not make you feel bad when the price increase higher in the market than to help you make some money that will make you to prepare for another opportunity to come. I think, those that save their money on cryptocurrency investment will definitely achieve something good when the bearish market turn to bullish market soon.

[Cryptomultiplier]

Saving is indeed a good step but on the other hand what if it happens like this.


Actually I read this news a few months ago and the article even exists from 2021 but because I only think of it as a joke, especially since it is China, I ignore it.
But recently I read that they are already implementing and testing this in their digital currency.
Even though it was really hard for me to find information about this because it was really difficult to find news about China, but there were some things that I read about this.

So if this is indeed being held for paper money, can we still save? I personally prefer investing to saving although I still agree with saving but if I had to choose I would prefer to be in investing than saving.

that is right - saving money is more important than then spending - sometime people prefer to keep the plastic money rather than having money in purses.
The idea of investing is good but it is not always the fruitful thing.

All this talk about savings better or not better than investing is honestly a 69 some personal application, if it is viewed more closely.
That is, it is dependent on the choice of an individual at a certain age and with a certain amount of income, to be able to comfortably save and invest as an occasion to do so arises.
A person who earns daily shouldn't be compared to that who earns weekly or the other who waits till the end of month to earn a wage/salary. They might all have different ideas on the concept of saving and investing.
Saving during inflation is good because if one is disciplined enough to keep aside a few from the bunch, now, while price is high, that means, when the prices become low, same discipline will make one prosperous with enough to invest in good ventures. However, how a person saves during these times could either make of one a profitable savings or not. It is better to decide on a medium beyond reach of ease of withdrawal and spending, with a probability of having yields once inflation period ends, and with security to a degree, that is why Bitcoins and other cryptocurrencies become adviced upon.

[Gayong88]

Lastly, investing is highly preferable to savings.

Investing is not a safe thing because I think the situation is still changing always. If you want to invest money, you must be brave and careful. You will get risks but the invisible risk is always higher than we think. The best way to avoid risks is not to take the risk. So it's a good idea not to decide on your own to do something like making a risky investment.

[lienfaye]

Lastly, investing is highly preferable to savings.

Investing is not a safe thing because I think the situation is still changing always. If you want to invest money, you must be brave and careful. You will get risks but the invisible risk is always higher than we think. The best way to avoid risks is not to take the risk. So it's a good idea not to decide on your own to do something like making a risky investment.

Well, every investment has risk regardless what investment it is or even you think the profit is guaranteed because there's no such thing. If you invest, be prepared because you can't expect the outcome will be positive always and this is the reason why you should only invest the money that you can afford to lose.

That's why even investing is a good to maximize your income it's still best to know the kind of investment that you'll be entering in and dont set your hopes high. Be wise and diversify if you can while saving some money for your future.

[Cryptmuster]

Well, every investment has risk regardless what investment it is or even you think the profit is guaranteed because there's no such thing. If you invest, be prepared because you can't expect the outcome will be positive always and this is the reason why you should only invest the money that you can afford to lose.

That's why even investing is a good to maximize your income it's still best to know the kind of investment that you'll be entering in and dont set your hopes high. Be wise and diversify if you can while saving some money for your future.

If I only invest the money I'm willing to lose, what should I do with the rest of the money? ) Some savings should always be available, but the bulk of your money should work and generate income. Here, everyone decides for himself how to diversify his investments in order to minimize risks. But still, most of your savings should be working, and only a small part should be available for unforeseen circumstances.

[ringgo96]

During inflation of course we always feel disadvantaged and the savings we have without the slightest increase in interest but the value of goods that continue to increase every year, so for those who can think about future needs that continue to change, investing is the right choice, and we just have to choose where we should be able to give benefits when we invest for the future, and currently investing in crypto is certainly the choice of many people because for the coming year it can always surprise us as users.

[Davian144]

Investing is not a safe thing because I think the situation is still changing always. If you want to invest money, you must be brave and careful. You will get risks but the invisible risk is always higher than we think. The best way to avoid risks is not to take the risk. So it's a good idea not to decide on your own to do something like making a risky investment.

If the best way to avoid risk is not to take any risks, then you will also gain nothing through investment or the like. Because all jobs in this world have their own level of risk and that needs to be understood before everyone makes a decision for anything including investment. So for the advice you give I think it's still not right to run. Because this is about the benefits that must be obtained with a smaller level of risk.

[monineklutak]

Investing is not a safe thing because I think the situation is still changing always. If you want to invest money, you must be brave and careful. You will get risks but the invisible risk is always higher than we think. The best way to avoid risks is not to take the risk. So it's a good idea not to decide on your own to do something like making a risky investment.

If the best way to avoid risk is not to take any risks, then you will also gain nothing through investment or the like. Because all jobs in this world have their own level of risk and that needs to be understood before everyone makes a decision for anything including investment. So for the advice you give I think it's still not right to run. Because this is about the benefits that must be obtained with a smaller level of risk.

That's why we must really consider the risks before making a decision,
because basically the risk will always be there just how we react to it,
to make a big profit I think it has a big risk too and vice versa

[eightdots]

Investing is not a safe thing because I think the situation is still changing always. If you want to invest money, you must be brave and careful. You will get risks but the invisible risk is always higher than we think. The best way to avoid risks is not to take the risk. So it's a good idea not to decide on your own to do something like making a risky investment.

If the best way to avoid risk is not to take any risks, then you will also gain nothing through investment or the like. Because all jobs in this world have their own level of risk and that needs to be understood before everyone makes a decision for anything including investment. So for the advice you give I think it's still not right to run. Because this is about the benefits that must be obtained with a smaller level of risk.

That's why we must really consider the risks before making a decision,
because basically the risk will always be there just how we react to it,
to make a big profit I think it has a big risk too and vice versa

We have to take the risk at a certain level. It is very difficult to achieve something without taking risks. The important thing is to determine the limits of this risk. There is no risk-free investment in this bad economy period. If our aim is to fight inflation without investing, I think this is not possible. The important point is that we should consider all the details before making a decision.


i agree with that;

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

[Ryu_Ar1]

snip

snip

All this talk about savings better or not better than investing is honestly a 69 some personal application, if it is viewed more closely.
That is, it is dependent on the choice of an individual at a certain age and with a certain amount of income, to be able to comfortably save and invest as an occasion to do so arises.
A person who earns daily shouldn't be compared to that who earns weekly or the other who waits till the end of month to earn a wage/salary. They might all have different ideas on the concept of saving and investing.
Saving during inflation is good because if one is disciplined enough to keep aside a few from the bunch, now, while price is high, that means, when the prices become low, same discipline will make one prosperous with enough to invest in good ventures. However, how a person saves during these times could either make of one a profitable savings or not. It is better to decide on a medium beyond reach of ease of withdrawal and spending, with a probability of having yields once inflation period ends, and with security to a degree, that is why Bitcoins and other cryptocurrencies become adviced upon.

okay in this case I quite agree with what you say because it is true that this depends on how our perspective is whether we really want to save or invest.
And as I said before, saving is also something that is good to do because indeed we can have spare funds when there is something we don't want.
But looking at the current conditions, for example, we are currently saving in a bank and we get interest on our savings, that is indeed very good, but we know that this is not comparable to the inflation that occurs every year. So if there is a comparison between the increase in the price of goods and services, the money we save actually decreases in terms of value.

As for this investment, it may be a little different but indeed we must also be aware that the risks are also quite different and of course the investment risk is greater than saving.

[sukmo]

Inflation can be said to be a ghost or a real threat to all countries in the world and no one country wants to experience it, as for what inflation is? Inflation is an increase in the price of goods or services on an ongoing basis within a certain period of time, this increase does not only occur in one product or commodity, but covers several or almost all aspects.

This increase in the price of goods or services is the impact of rising production costs such as raw materials and labor wages.

And also another cause of inflation is the instability of the amount of demand and supply, as well as the level of circulation of money circulating in the community.

Well at this position I think saving and investing in assets such as finished products or stocks is always a better choice than saving money in the bank during inflation.

This is because the value of assets will increase over time, while the value of money stored in banks will decrease.

[DevilSlayer]

Savings in the bank guarantees interest but the thing is, you just can't keep up with the inflation.

You are right about getting interest in saved money in banks but this interest is too small when compared to the the rate of inflation.

watched a documentary that the banks are menting money during inflation
how did the banking system gained so much profit during that time? there is a great mind game behind it and banks must be appreciated for that

Banks controlled everything, specifically the FEDs. They control the economy or in other terms the World. They are the one who are printing the money that causes inflation to soar. It is the reason why we should not just become a normal person who can't do anything. We can beat the inflation or the market by making investments and not by saving.

[Wong Gendheng]

Savings in the bank guarantees interest but the thing is, you just can't keep up with the inflation.

You are right about getting interest in saved money in banks but this interest is too small when compared to the the rate of inflation.

watched a documentary that the banks are menting money during inflation
how did the banking system gained so much profit during that time? there is a great mind game behind it and banks must be appreciated for that

Banks controlled everything, specifically the FEDs. They control the economy or in other terms the World. They are the one who are printing the money that causes inflation to soar. It is the reason why we should not just become a normal person who can't do anything. We can beat the inflation or the market by making investments and not by saving.

Right, only with investment, we can fight inflation, saving at this time will not be able to compensate or exceed the inflation rate so that the best thing is to invest, of course for security, we must spread to many types of investment so that it is safer

[Cryptmuster]

Investing our money in gold, silver or other precious metal is better rather than keeping our money in the bank, especially in times like this when inflation is really high. Just keep some money in your bank for emergency use in case you need it someday. It's true that we should purchase what we need, mostly I will choose some items that I need the most before putting some money into investing.

If it suits you, you can keep some money in the bank for expenses, but it should be a small amount for everyday expenses, since it is not very wise to trust banks with large amounts. Bank deposits are no longer relevant, they have more risks than benefits, why create problems for yourself. Gold is a very good investment that has stood the test of time and perhaps silver can now bring even more profit than gold, because it is widely used in industry (do not take it as financial advice).

[348Judah]

Investing our money in gold, silver or other precious metal is better rather than keeping our money in the bank, especially in times like this when inflation is really high. Just keep some money in your bank for emergency use in case you need it someday. It's true that we should purchase what we need, mostly I will choose some items that I need the most before putting some money into investing.

If it suits you, you can keep some money in the bank for expenses, but it should be a small amount for everyday expenses, since it is not very wise to trust banks with large amounts. Bank deposits are no longer relevant, they have more risks than benefits, why create problems for yourself. Gold is a very good investment that has stood the test of time and perhaps silver can now bring even more profit than gold, because it is widely used in industry (do not take it as financial advice).

That's true, bank should be the last ans worst decision one could make to save up his money for long time, but aside gold, bitcoin is also a good means to have your asset well kept into a profitable investment, if you can set  a time frame to invest on bitcoin by buying the dip and selling when the price goes high, you will realize alot of interest than when left in banks to discover your money turns a liability on you with bamks making deductions.

[AicecreaME]

Saving your fiat in the bank doesn't save you from inflation, or any advantage at all. Investing it to something that is profitable in the long run is more of like fighting against inflation. Bank is the only one who is getting the benefits in the long run because of the funds that's been saved on them by a lot of people, they lend it to other people with a high interest rate, while people only get few percentage of interest yearly.

I'd rather invest it in Bitcoin rather than letting the bank take advantage of my money.

[gabbie2010]

Inflation is like fire and it will burn cash unless the money is invested in stocks, gold, BTC and other assets that can give very good returns in the future to come. Cost of everything will rise substantially and we must be prepared for it, one day at a time, doing our best to safeguard our hard earned money. 

As a crypto enthusiast I ensured that my major assets are crypto particularly bitcoin stored in my wallet, I dislike saving money in my bank account when there is a better alternative in crypto this is the right time to buy bitcoin and accumulate as much as possible and wait till the rainy days ahead, inflation had been ravaging the global economy while savings in fiats has depreciated in values with banks paying low interest rate, then of values does saving in bank holds? better still I rather used my fiat to purchase physical assets or landed property whose value will appreciate in no distant future.

[lizarder]

As a crypto enthusiast I ensured that my major assets are crypto particularly bitcoin stored in my wallet, I dislike saving money in my bank account when there is a better alternative in crypto this is the right time to buy bitcoin and accumulate as much as possible and wait till the rainy days ahead.

Similar to what I did, in the last year we have increased investment in bitcoin, many problems have prompted me to make bitcoin purchases gradually. Saving money in the bank can't keep its value, we only benefit from the small interest they give, while on the other hand the use of money does not run and our money continues to stay in storage, even though we can use bitcoin to get maximum profit.

inflation had been ravaging the global economy while savings in fiats has depreciated in values with banks paying low interest rate, then of values does saving in bank holds? better still I rather used my fiat to purchase physical assets or landed property whose value will appreciate in no distant future.

In addition, inflation can make the value of the currency depreciate, while bitcoin can maintain its value, even when inflation occurs bitcoin does not affect the value, the strength of Bitcoin can be interpreted as safe in storing assets.
While physical assets in the form of land are also better than saving money in a bank, because both can maintain value, actually a good investment is a way to maintain the value of the currency and be able to generate maximum profits.

[landheer]

Saving your fiat in the bank doesn't save you from inflation, or any advantage at all. Investing it to something that is profitable in the long run is more of like fighting against inflation. Bank is the only one who is getting the benefits in the long run because of the funds that's been saved on them by a lot of people, they lend it to other people with a high interest rate, while people only get few percentage of interest yearly.

I'd rather invest it in Bitcoin rather than letting the bank take advantage of my money.

yes, it is better that way. because if you invest in bitcoin
our money will increase, but of course we have to be able to buy bitcoins, because if we can't buy bitcoins at the right time then the risk will be loss.

[Sir Legend]

Of course, it is not easy to save during inflation, most people will take money from savings, even emergency funds are also forced to be taken because they want to cover needs when inflation occurs, this is what makes us have to make preparations from the start with many things such as investment.

[dunfida]

Of course, it is not easy to save during inflation, most people will take money from savings, even emergency funds are also forced to be taken because they want to cover needs when inflation occurs, this is what makes us have to make preparations from the start with many things such as investment.

saving and creating emergency fund is as important as having food on your table.
Not only during inflation but it is important to save during good time

When you are saving some fiat money on your bank account then its not all the time it would really be a bad idea.Its true that there are really times which we do really need up fiat specially in times or emergency on which you cant really be able to assure that you could really be able to provide money on point when you dont have a savings and thats the con's if you dont consider on saving up at least on fiat.
Its true that inflation do really hits hard when you do save up fiat on your bank account but it does have its pro's on time of emergencies thats why i do always consider
on saving up money or allocating a portion of my income which is really saved up or intended for savings.

[BRINIRHA]

Of course, it is not easy to save during inflation, most people will take money from savings, even emergency funds are also forced to be taken because they want to cover needs when inflation occurs, this is what makes us have to make preparations from the start with many things such as investment.

When an inflation is out of control, it is an indication of an economic crisis in a country or globally. Uncontrolled inflation is usually caused by a gap between people's purchasing power and rapidly rising prices of goods. rising prices of goods caused one of them by the decline in the value of the currency. So of course at that time even our savings can be used because we have to. that means it is difficult to save when inflation is out of control.

even higher inflation because it is not controlled will cause a recession.

so high inflation alone has made it difficult for people to save. coupled with the more frightening threat of a recession.
and there is something scarier than a recession it is an economic depression.

we need to know the difference between an economic recession and an economic depression. to understand it read this quote,
    Columnist Sidney J. Harris distinguished the terms this way:
    "a recession is when your neighbor loses his job; depression is when you lose your job."  
quote source: wikipedia

[panganib999]

Every country is experiencing the inflation at its peak. A true example is pictured in the opening post. The right approach is to invest on cryptocurrencies which assure of profit. Even with cryptocurrency one need to do things at the right time without making any delay.

Once savings served as a base for further investment needs. Now things have changed and it is completely upside down. In my country banks are at its worst and few have closed the service. So, banks are no more a place for our hard earned money.

I agree with your sentiment but supposing as if Cryptocurrency is the end-all-be-all of all assets out there is the reason why people outside the industry think of cryptocurrency as a mere speculative asset that is backed by ponzi schemes. Again, I agree with what you said, crypto is definitely a good asset to put your savings in WHEN DONE RIGHT. Merely saying that it is the right approach, especially without pointing out its cons could trick some people into believing that cryptocurrencies has no downsides. It's best to always do a little bit of your own research to find what asset is best for you to invest in based on a couple of factors.

As for banks, saving your money isn't the best place for them right from the start. I think this has been taught a lot in internet videos and even in the four corners of your classroom. They are mainly there for providing loans and helping combat inflation by controlling interest rates for said loans but if you think they are the best place to save your money, well let's just say there are better alternatives.

[Mario Yamasaki]

I think saving is not a long -term solution. To make financial conditions always healthy is to calculate fixed expenses and fixed income, if expenditure is smaller than income then the thing that must be done immediately is to find additional income and the easiest thing we can do is try cryptocurrencies.

[Jatiluhung]

so high inflation alone has made it difficult for people to save. coupled with the more frightening threat of a recession.
and there is something scarier than a recession it is an economic depression.

we need to know the difference between an economic recession and an economic depression. to understand it read this quote,
    Columnist Sidney J. Harris distinguished the terms this way:
    "a recession is when your neighbor loses his job; depression is when you lose your job."  
quote source: wikipedia

This is new knowledge for me. I just understood the meaning of the economic depression from the phrase you quoted from Columnist Sidney J. Harris.

And it seems the economic depression is really scary when it happens. because when inflation is not under control like now we have been affected quite hard. I even started to save money since this economic crisis took place. I want to keep saving. because I want to prepare myself if the economic crisis continues. but I hope the global economy can recover quickly. so that economic recession and economic depression do not occur.

[Cryptmuster]

When you are saving some fiat money on your bank account then its not all the time it would really be a bad idea.Its true that there are really times which we do really need up fiat specially in times or emergency on which you cant really be able to assure that you could really be able to provide money on point when you dont have a savings and thats the con's if you dont consider on saving up at least on fiat.
Its true that inflation do really hits hard when you do save up fiat on your bank account but it does have its pro's on time of emergencies thats why i do always consider
on saving up money or allocating a portion of my income which is really saved up or intended for savings.

Having savings in reserve is a very good idea, but keeping it in a bank account is not the best idea. These days, more and more often we hear stories when people cannot withdraw their money from the bank if necessary. I'm not saying that this applies to all countries, but this happens quite often and you need to be insured against this. It is better to keep your savings in a safe, they will be available at any time you need.

[carlfebz2]

When you are saving some fiat money on your bank account then its not all the time it would really be a bad idea.Its true that there are really times which we do really need up fiat specially in times or emergency on which you cant really be able to assure that you could really be able to provide money on point when you dont have a savings and thats the con's if you dont consider on saving up at least on fiat.
Its true that inflation do really hits hard when you do save up fiat on your bank account but it does have its pro's on time of emergencies thats why i do always consider
on saving up money or allocating a portion of my income which is really saved up or intended for savings.

Having savings in reserve is a very good idea, but keeping it in a bank account is not the best idea. These days, more and more often we hear stories when people cannot withdraw their money from the bank if necessary. I'm not saying that this applies to all countries, but this happens quite often and you need to be insured against this. It is better to keep your savings in a safe, they will be available at any time you need.

Give me some examples or news about these fund hold up or locked or been ran away by banks.How often it do happens?

It is really just on small chance for it to happen thats why people do really put up soo much trust on banks because they do really believe that it is secure which i cant really blame them considering that we've been
using these institutions on storing up our fiat money.
If you are really that wise and minding about inflation then for sure you would be considering on putting those funds into move via means on making some investment.

[paxmao]

Of course, it is not easy to save during inflation, most people will take money from savings, even emergency funds are also forced to be taken because they want to cover needs when inflation occurs, this is what makes us have to make preparations from the start with many things such as investment.

saving and creating emergency fund is as important as having food on your table.
Not only during inflation but it is important to save during good time

Agree, but the problem during inflation is precisely that you have an emergency fund in fiat, and the price levels increase with the inflation eating up on that reserve of money. How are you going to make sure that your emergency fund is still sufficient to cover the usual eventualities such as bad health, unemployment... or if you live in Mexico, an express-kidnaping.

[Sayakaaja]

I think it's useless to save in times of inflation like today. because, goods always go up, can't always go down. even though we save a lot, then in the future the goods soar higher than our savings. the money we save, which we think is big, becomes small.