how to overcome inflation for the community

[Tallupooh]

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?

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[Plaguedeath]

1. Saving your wealth in fiat money doesn't overcome inflation.

2. No correlation

3. No correlation

4. It's true, but can you make sure your parents, your friends, and the other people in your country only bought and consume domestic products? you're just one person from very very lot people in your country, your contribution is near 0.001% or less.

5. It depends about your investment, if you consider bank saving is an investment, it doesn't overcome inflation. But if you invest in stock, gold, real estate, or Bitcoin, it do overcome inflation.

[franky1]

prepare
dont hoard fiat, or you will lose value that way.
instead think about products you want to buy next year (when their price will be higher) and buy them sooner before the price goes too high

dont waste money on novelty/luxury/consumer goods that have no lengthy shelf life
EG fast food

if your kitchen white goods are on the old side and were tempted to buy/upgrade new next year, buy now before they are more expensive next year

if you do have spare funds after this. invest it in deflationary assets
but check on the positions of those assets

EG golds 20 year market window is $900-$2.1k  and is sitting at $1.9k now meaning its near the top (bad time to buy)
EG bitcoin 5 year market window is $2k-$70k and is sitting at $22k now meaning its in the bottom third (good time to buy)

[EarnOnVictor]

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?

Thank you for these suggested points, but they are still mainly important for individuals to save themselves from inflation than for an entire community. In addition to what you have explained in order to be more effective for the community, I believe that they need to be creative in the community and create wealth for themselves. The main goal of the community should be to bring/attract money to it through solving external problems and venturing into agriculture, ICT and others.

By virtue of this, they would be able to attract money into their community and also create more jobs that will benefit all.

[Fortify]

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?

While these are sensible tips for any time of life, in reality unless the whole country or world does them it won't help. However this can actually backfire and make things worse, if people stop spending then companies have to cut back which means job losses and you can end up in a dangerous spiral. Not only that but the current causes of inflation - Russia invading Ukraine - caused food and oil/gas supplies to drop. Which is beyond the control of the average consumer.

[Spaceman1000$]

Overcoming inflation is not really an easy venture, it involves a lot of discipline.

Here are some few tips to overcome inflation, they include but not limited to
1, having a Side hustle, so you can earn residual income apart from your mean stream.

2, Learn how to spend money on basic things you need, and not buying things ordinarily you don't need because it might compound to lot of cash outflow .

3, save money as little as you can, but do more of investment because every return on investment will place you on a good financial pedestrian.

[Mauser]

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

Your first and fifth point both involve saving, which I don't think is a good idea during high inflation periods. Right now the inflation rate in my country is at 9% while the interest I am getting on my savings account is less than 1%. Some smaller and more risky banks offer 2% which is the highest you can get at the moment for your savings account. It just doesn't make sense to save money when you lose 7% purchasing power in one year. What would be better in my opinion is to make the necessary purchases you have to do this year as fast possible. For example you need a new washing machine or a new fridge, then I would recommend to make the purchase as fast possible and don't wait with it. Any larger purchase that is essential will become much more expensive the longer we wait. It makes more sense to use our money today then wait a few months until our money losses more value. The only real alternative is to invest our money into assets that give higher returns or at least match the inflation rate.

[mk4]

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?

This is what 99% of people should be doing despite there being inflation or not. But most important in the context of inflation is cashflow — so you'd have more and more capital to invest in productive assets.

[jossiel]

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?

Yes, those are good tips for overcoming the inflation. The reality is that inflation is there to stay until we leave this world, that's permanent and even if how good a country is there will be several factors that will still affect them and can't skip inflation.

Investing and having more source of income are the ideal thing in dealing with the inflation. You can save and get into budgeted activities but you can't enjoy what you'll do if all things will be on a budget.

Increase your source of income and cash flow and that's how you fight inflation.

[Vyeon11]

To overcome inflation requires awareness and patience in every human being.
because if you are not self-aware and impatient, you will definitely be chaotic and disorderly.
every human being must train himself, in various circumstances and in various situations.
good at collecting money / doing business.
they know when to have fun, and when to be frugal.
and the important thing is not to forget, is to invest.
investment will also stabilize your finances, will even get more and profit.
now there are many places to invest, the most popular examples are currently bitcoin, real estate, and gold.
also set aside your money for savings, just in case of an emergency.

[Doan9269]

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

In addition to all you have mentioned, try to invest on a profitable asset that can not take away money from you but rather adds unto it, invest on what can give you rest, earn you some income and increases in value over time, choose right from avoiding aby scheme that could promise you quick return over a short time, create time to learn and also diversify, choose an investment pattern that could be profitable to you reducing risk attached.

[Wind_FURY]

how to deal with inflation according to my community:

1. Save money

It actually should be the opposite during inflationary periods because prices of goods/commodities surge higher and higher. Your money is losing purchasing power.

5. Start investing and saving

It has always been the advice of wise investors that during inflationary periods, invest in energy stocks and stocks of companies that produce food. Higher prices are always a blessing for those kinds of companies because everyone can't live without what they produce.

[zaki12]

5. Start investing and saving

Those who were the first to face this inflation were faced with calm. Indeed, there are many ways to deal with inflation, we must allocate funds to invest. However, those who don't understand investment instruments, don't invest in high-risk ones, so you can't get a profit.

Don't let it be because of fear of excessive inflation that you didn't understand Investment suddenly as long as you invest, the original money for short-term needs suddenly runs out because of a loss. Therefore, it is better to keep the money in a safe place, at least it can minimize the decline in value due to inflation.

[so98nn]

All you need is third option that is creating multiple income sources. I mean the world is changing is very fast and it’s becoming competitive all the time. Since there is high talent acquisitions who are willing to work at lower wages creating some shit competition everywhere. This means you have to ultimately look for lower paid jobs as well leading to low income and hard time during the inflation.

I think this creates complications and need of doing more jobs. Increasing passive income sources is always best.

[MoonOfLife]

3. Looking for additional income

The only way is to stop whining or blaming the government or the people, and work harder than usual, we will be able to overcome inflation easily. We all experience inflation equally, but a lot of people are comfortable with it, while we all whine. We are all experiencing the same inflation, but a lot of people are handling inflation well, while we are all whining. So I'd say, work hard and have a life plan, and you'll find inflation not so scary.

[palle11]

3. Looking for additional income

This point is what I think best for inflation challenges. With inflation, a family household need to look for additional ways to generate money to add to what they already have because the value of money is usually reduced in purchase made. Another point is that both parents will have to work for it. The challenges will not be left for the man alone to take care of, if that happens the family will suffer with the rise of inflation all over the country.

[Findingnemo]

Buy gold that is a proven asset to perform constantly in all kinds of economic crises and investing in other assets including bitcoin can help you to avoid the inflation trap.

Never store more money than you need for the next 3 or 6 months and this will also be used at the time of emergency (never forget your insurance).

Consuming domestic goods doesn't necessarily mean you can save money, from my observation its more expensive than we buy from the market so I am not following it unless we get the products for cheaper.

[Frankolala]

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?

You are to also cut down your expenses so that you can use the left over cash to invest in bitcoin if it is not that much but if it is a good amount, then you can invest in gold.

Don't save in fiat currency as it depreciate everyday by day,get side jobs to add to the present one you are doing,you can also stay away from any action that makes you spend money always, so that you don't continue with your addictive life style.

[el kaka22]

I would say as a community, selling something to other nations is the number one key to fixing all of this. How do you do that? Well you invest hardcore towards R&D which would be a lot better and I would guess that if you could come up with something that has a high value then you would be able to make a lot of money. Why do you think that here is a good amount of money to be made by Americans?

Because, they end up selling a lot of things to the whole world, and I believe that we are not going to have that easily, it's going to end up being a very tough road and will take a while, but if you can do that, it will make a lot more money and would help you during bad times.

[Jody.Drummer]

I would say as a community, selling something to other nations is the number one key to fixing all of this. How do you do that? Well you invest hardcore towards R&D which would be a lot better and I would guess that if you could come up with something that has a high value then you would be able to make a lot of money. Why do you think that here is a good amount of money to be made by Americans?

Because, they end up selling a lot of things to the whole world, and I believe that we are not going to have that easily, it's going to end up being a very tough road and will take a while, but if you can do that, it will make a lot more money and would help you during bad times.

What is your point is true, the points you said can help from inflation. But the problem is that not everyone can do that, there must be discipline within them, even myself to do things that seem easy but in practice are very difficult to do. Sacrifice will also be there, because from the start we may live extravagantly, here we are forced to save money. Some people will surely complain and blame the government, but in fact the government's role is very important here, but we also cannot blame the government completely, because we also have to change from within ourselves.