Savings during inflation

[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.

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[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]

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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.