how to overcome inflation for the community

[mindrust]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

Saving FIAT money is the worst thing you can do against inflation. You have to have some but saving big amounts is the exact move that will ruin you against the inflation. What you need to do is buying goods like toilet paper, dry food, water, land, gold... anything that has limited supply and people demand in their daily lives.

Investing is a good option too but investing in what? In an inflationary environment, the asset prices go higher higher till they collapse. That's what happened in 2008. If you can't get out in the right time you will be destroyed.

[virasisog]

Spend your money wisely and prioritize your needs over your wants. In our society nowadays where trends are everywhere, we are always tempted to buy things that are on trend so we could go with the latest things that the society is into but we should be well disciplined to focus on spending our money for our necessities. We should also mind saving and investing so we'll be prepared in case the situation gets worse.
We don't know how long will this inflation would last so we should deal with it wisely by managing our finances in the smartest way.

[Leviathan.007]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

I can say the best way to stay safe from inflation is to have a plan for your economic life and avoid buying not useful stuff For example, I try to write everything I buy, and at the end of each month, I'll check if I bought anything by mistake and wrongly. besides watching for what you buy you will need to have an investment plan for your life and try to stick to it if the plan really works. because investing in a good asset is the only way to stay safe from the inflation rate.

[bittraffic]

Hedging is the way to fight inflation that's why people buy gold and BTC. USD is normally used by people from other countries to hedge against the plunging value of the local currency.  Spend less and cancel your vacation.

Looking for additional income in the best way, now means that we need to sacrifice in order to survive the crisis while the prices of gas and oil price steal the funds allotted to food. More money coming into the household is one priority.

[lionheart78]

I believe the best answer here is to convert your saved money to Bitcoin.   Though you are exposed to the volatility of the market, at least you are protected from inflation.  We all know that Bitcoin can be used as a hedge against inflation due to its supply being limited.

So instead of keeping our savings in fiat currency, we can just convert them to Bitcoin.

Also, we should avoid or reduce debt and start paying off credit card debt, mortgages, and other loans to avoid interest and paying back more money in the future.

[bitzizzix]

Inflation is unavoidable, the value of paper money will always decrease according to the system which continues to print more and more banknotes.
but actually inflation is actually good, right, because it's a sign of economic growth.
and the best way to deal with proper inflation in my opinion is to invest in assets that provide equal or more returns than inflation such as bitcoin, gold and also property.

[Davidvictorson]

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

When inflation strikes, invest in assets, if you can and have the means. Real things that have real value. Those things will adjust in price with the valuing and devaluing of currency. Land is the best example. The objective during times of inflation is not to increase your wealth/purchasing power, it's to not lose any of it.

[dothebeats]

Saving money during an inflation will give you a hard time on your finances. In fact, saving is counter-intuitive during an inflation strike because you'll most likely be spending that money anyway (and you should) otherwise you're left with paperweight. Best thing to do during inflation is to learn where to spend your money and get the most value out of it, if working for a second job is not a viable option and you're just looking to weather the storm. Not every average Joe will be able to do all those 4 points you've listed, so making ends meet and maximizing resources should be the only advice one should follow during a hard bout of inflation.

[erep]

Hedging is the way to fight inflation that's why people buy gold and BTC. USD is normally used by people from other countries to hedge against the plunging value of the local currency.  Spend less and cancel your vacation.

Looking for additional income in the best way, now means that we need to sacrifice in order to survive the crisis while the prices of gas and oil price steal the funds allotted to food. More money coming into the household is one priority.

We must try to fight inflation to reduce spending on less important items and have to work extra to get additional salaries, but it is suggested that all these savings must be converted to gold, investment and also property to increase investment value for the future. At least many people are converting USD to stabilize savings from the effects of inflation and for crypto investments many people will stick to the bitcoin option for the certainty of good returns compared to any coin.

[serjent05]

Hedging is the way to fight inflation that's why people buy gold and BTC. USD is normally used by people from other countries to hedge against the plunging value of the local currency.  Spend less and cancel your vacation.

Looking for additional income in the best way, now means that we need to sacrifice in order to survive the crisis while the prices of gas and oil price steal the funds allotted to food. More money coming into the household is one priority.

We must try to fight inflation to reduce spending on less important items and have to work extra to get additional salaries, but it is suggested that all these savings must be converted to gold, investment and also property to increase investment value for the future. At least many people are converting USD to stabilize savings from the effects of inflation and for crypto investments many people will stick to the bitcoin option for the certainty of good returns compared to any coin.

I don't think an individual can fight inflation, I believe this is a government issue where the main culprit is the government's continuous printing of money which depreciates the value of the national currency making items and materials inflate in prices.

I think all we can do is to try not to be affected by it by doing things that will save us from spending our money excessively.  One of which is converting our cash to a more stable assets that has resistant to inflation.  Second thing is to plan how we spend our money in order for us to avoid loans and paying interest on the loaned amount.  We can also do a side hustle where we can earn extra money to compensate for the losing purchasing power of money.

[Fivestar4everMVP]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

Lols, this things you mentioned here is no way related to how to overcome inflation...
First, to know how to overcome inflation, we have to first of all know what inflation is, inflation, according to my understanding is when the central Bank, in conjunction with the federal government decides to print more money and push it into circulation, thereby significantly increasing the total money in circulation..
We all know the law of demand and supply, when demand is low and supply is high, the goods become cheaper, so it is when there is too much money in circulation, they lose their value against the US dollars, which is the global currency, and when the loose their value against the US dollars, the cost of things in that country will begin to go up because the money it self is not as valuable as it used to be, and for the goods to maintain the cost they used to be, the currency purchasing it have to increase..

So for me, to answer your question plain and straight, safe money in bitcoin, or other assets like gold, real estate, shares and the likes, this are the real ways to overcome inflation to the best of my knowledge, saving you money even in US dollars won't help you overcome inflation since the US dollars has also lost value overtime.

[og kush420]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

easy to say but it's hard to do - for a person like me who works round the clock but don't get enough money
I plan to save money but I don't get to do it -- I think the money we get from gambling is an easy money - it comes east and goes flying

[paxmao]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

Not really any of those, but at the same time all of those. Buying durable goods like houses or land are is useful, buying gold or bitcoiun may be a good idea. Saving is not a great idea as such as inflation kills cash value, looking for additional income is not specific to inflation and about investing, yes, but you have to make sure ahtat yuouunderstand what classes of assets are of to invesrt in an inflationary context.

[Hispo]

Those things you mentioned OP are more about coping with inflation rather than overcoming it.
Inflation is a consequence of the recklessness of those in charge of the economy of a country or state and one (as individual citizen) can only cope and try to survive.

Anyways, avoiding cash is a must.  It is important to avoid getting one's money or any other kind of assets under the control of the government, when governments go through inflationary times, they are likely to halt withdrawals and in the worst case, they confiscate part of the non-inflationary assets. 

[autumnleaf]

I believe that inflation has always existed and is a core features of an economy. While it may not always be possible to totally overcome it, there are steps that can be taken to lessen its effects. These include investing in assets that have a history of appreciating in value, setting aside money regularly, cutting costs, and raising income.

[Dickiy]

Inflation occurs due to the narrowing circulation of commodity goods or experiencing scarcity which provokes the selling price of goods to increase and the operational costs of producing goods or services increase which forces business actors to increase the price of goods to reduce operational costs, especially when the country's economic growth and development is taking place. vulnerable to inflation.

Consuming domestic products really helps to control inflation, but the role of you and your family alone is not enough for that, it must be socialized to people in other parts of the region and maybe that is not your job but the job of the government in your country. And the government must also provide a supply of commodity goods that are needed by the community to prevent extreme price increases.

Saving or investing in a bank, in my opinion, will not have an effect on reducing inflation, instead it tends to increase it because your money will be managed by the bank and lend it to other customers to seek additional interest from the money lent.

[Jawhead999]

Anyways, avoiding cash is a must.  It is important to avoid getting one's money or any other kind of assets under the control of the government, when governments go through inflationary times, they are likely to halt withdrawals and in the worst case, they confiscate part of the non-inflationary assets. 

There's no way you can avoid cash or fiat because it's the only one payment tool that accepted everywhere in your country, it's different if you live in El Salvador or Central African Republic where you can use Bitcoin to pay daily groceries, electricity bill etc which you can avoid cash or fiat 100%. I think most of Bitcoin maximalist still have cash or fiat for 1-5%, but the rest of their wealth they're convert to Bitcoin.

[mvdheuvel1983]

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

You're doing it wrong if you invest in anything, whether real estate, cryptocurrencies, or equities, when inflation is high. The ideal moment to sell your assets is right now.
By waiting until interest rates inevitably rise and the economy starts to contract, your dollar will be worth more, you may avoid the inevitable deflation. The moment to purchase assets is right now. Buy inflation-indexed bonds or keep your money in the bank if you have no assets.

[Sayeds56]

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

It is true that we can't do anything to reduce inflation because it is a global issue, and  it is the job of the governments to take necessary measures to bring it down, but there are several thing we can do to reduce its impact on our family life:

- Creating a budget of your home expenses and sticking to it.
- Consider ways to reduce your bills, such as insulating your home and if possible, install solar panels to generate electricity during day light hours.
- Invest your saving in fast growing assets like Bitcoin.
- Learn skills to  generate extra income online, such as web developing and animation.

[SirLancelot]

Anyways, avoiding cash is a must.  It is important to avoid getting one's money or any other kind of assets under the control of the government, when governments go through inflationary times, they are likely to halt withdrawals and in the worst case, they confiscate part of the non-inflationary assets. 

There's no way you can avoid cash or fiat because it's the only one payment tool that accepted everywhere in your country, it's different if you live in El Salvador or Central African Republic where you can use Bitcoin to pay daily groceries, electricity bill etc which you can avoid cash or fiat 100%. I think most of Bitcoin maximalist still have cash or fiat for 1-5%, but the rest of their wealth they're convert to Bitcoin.

And I think the people on those countries where BTC is already a legal tender still uses a fiat because there will be places where BTC isn't accepted or in rural areas. Knowledge is also one of the reason on why some don't know how to use a BTC but fiat isn't that complex to use that even a kid can use them to purchase something in the store nearby. Your last sentence is right.

I am into BTC but I think it's not bad to have a back up because we still don't know the future of BTC and its also volatile so its kinda painful seeing your wealth go down sometimes but the pain can be lessened if you also store some of your wealth in something which are stable, have a sure future and more legal like fiats.