Savings during inflation

[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.