Altryist
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October 11, 2022, 11:45:01 AM |
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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.
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Desscount
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ComboLabs
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October 11, 2022, 01:37:15 PM |
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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
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Tallupooh
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October 12, 2022, 12:20:15 AM |
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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.
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jerry0
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October 13, 2022, 12:27:38 AM |
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Would it make sense to buy lot of electronics now because the price and supply would be higher later on?
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Jatiluhung
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October 13, 2022, 06:54:26 AM |
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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.
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livingfree
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October 13, 2022, 07:58:40 AM |
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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.
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Desscount
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ComboLabs
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October 13, 2022, 08:28:44 AM |
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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
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Cookdata
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~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).
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uneng
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October 14, 2022, 04:43:08 PM |
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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.
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Moeda
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October 14, 2022, 07:32:51 PM |
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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.
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STT
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Leading Crypto Sports Betting & Casino Platform
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October 14, 2022, 11:04:37 PM |
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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.
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Fatunad
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October 14, 2022, 11:26:07 PM |
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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.
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odunybiz (OP)
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October 15, 2022, 12:26:10 AM |
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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.
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tabas
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October 15, 2022, 11:02:58 PM |
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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.
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Ryu_Ar1
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October 23, 2022, 11:42:41 PM |
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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.
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| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
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Sebas.tian
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October 24, 2022, 03:44:46 AM |
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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.
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Cryptomultiplier
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October 24, 2022, 05:42:02 AM Last edit: October 24, 2022, 05:52:31 AM by Cryptomultiplier |
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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.
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Gayong88
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October 24, 2022, 06:18:37 AM |
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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.
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lienfaye
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October 24, 2022, 06:31:16 AM |
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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.
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Cryptmuster
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Activity: 2016
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Glory To Ukraine! Glory to the heroes!
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October 24, 2022, 08:10:34 AM |
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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.
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