how to overcome inflation for the community

[uneng]

1. Save money

Well, it's inflation which is going to overcome your money this way... If you save money in fiat, you are already losing purchasing power each new day. You have to determine in which currency or asset to save your money. I would say bitcoin, thinking on long term, because it's accessible and easy to deal. Gold is another option, but to say the truth I have no clue how to start dealing with this, so I simply for for BTC.

2. Prepare for an emergency

How?

3. Looking for additional income

Yes, extra income will be always a powerful ally against inflation, so you can invest more money in a monthly basis and convert it into something solid faster, like a property, for example, turning your patrimony immune to inflation.

4. Consumption of domestic products

It's a strategy to help you saving money, which will make your money last longer during the month, so you can add that to the extra income you make and invest everything together.

5. Start investing and saving

That is it...

[blockman]

4. Consumption of domestic products

This is good for those countries that produce their own goods. But for those countries that are reliant on imported products then this isn't applicable to them.
There are countries like Iceland where the cost of living is high and then the inflation is also to be dealt with and people there have to bear with it because their country relies on the shipment of goods and products. That is why countries that are mass producing their own consumptions are just lowkey and doing pretty good.

[Sayeds56]

4. Consumption of domestic products

This is good for those countries that produce their own goods. But for those countries that are reliant on imported products then this isn't applicable to them.
There are countries like Iceland where the cost of living is high and then the inflation is also to be dealt with and people there have to bear with it because their country relies on the shipment of goods and products. That is why countries that are mass producing their own consumptions are just lowkey and doing pretty good.

I think inflation has affected every country including CHINA, which is called "World's Factory", as it produces everything from heavy machinery to consumable items.
Inflation is also risen in China though it is lower than USA. The reason behind it, is the cost-push inflation, which is the result of increase in energy cost, this happened due to disturbance in logistics after the Ukraine war and caused huge increase in crude oil prices.
Increase in prices of food items is also one of the major reasons behind skyrocketing inflation worldwide, and it led to rise in cost of living. Governments should provide incentives to farmers, for using new technologies for increasing their agricultural produce, to reduce dependence on imported food items.

[Hispo]

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.

Actually, because inflation some parts in my country (where the mining of precious metal is an important part of the local economy) they tag the prices of most products an services in both FIAT and grams of gold. In those towns you can literally go shop around with a small bag of gold power and all businesses have a small electronic scale.

There is even people who take a pocket scale with them. It is interesting.

[livingfree]

- Learn skills to  generate extra income online, such as web developing and animation.

There are too many skills that can be learned through the internet and that's why there are freelancers that are extending their knowledge and skills through enrolling online courses and learning something new.

And most of them are paid but many are also for free but information are quite limited. But, there are scholarships that you can apply for with certain online courses website.

So, it means that information are there and you just have to look out for them and study to eagerly learn new skills.

[Vishnu.Reang]

New research tells us that inflation may impact different groups in different ways. People's experiences with rising prices depend on where they live, how they earn, and how they spend. If an individual have multiple income source than they don't have to blame the government. If we are aware about inflation and start working hard, with making strategy and we prepare for coming inflation then then we find inflation is not that much scary and detrimental. Must prominent thing is not forget to invest. Investment is very crucial to overcome from inflation, it preserve your portfolio's value.

[naikturun]

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.

However, taking steps to manage your personal finances can still be beneficial in navigating economic uncertainty and protecting your financial well-being. By building an emergency fund, managing debt, and investing for the long-term, you can improve your financial resilience and be better prepared to weather economic shocks.

[Razmirraz]

In addition to the 5 useful ways to deal with inflation that you shared at the beginning of the topic, I want to add a few more points that are no less important than what you mentioned above.

1. Manage expenses wisely.
Inflation requires people to have more income than before, but the arrival of inflation is not necessarily accompanied by an increase in income. Cut expenses that are not too important such as entertainment or spending money on something that is not really needed.

2. Buying Gold.
Buying gold is one way to deal with inflation, buying gold is perfect for people who want to invest more flexibly. Besides that, buying gold has almost no risk because the price tends to be stable, gold is not easily eroded by inflation and the price can increase even though it is not too significant.

[Wend]

In addition to the 5 useful ways to deal with inflation that you shared at the beginning of the topic, I want to add a few more points that are no less important than what you mentioned above.

1. Manage expenses wisely.
Inflation requires people to have more income than before, but the arrival of inflation is not necessarily accompanied by an increase in income. Cut expenses that are not too important such as entertainment or spending money on something that is not really needed.

2. Buying Gold.
Buying gold is one way to deal with inflation, buying gold is perfect for people who want to invest more flexibly. Besides that, buying gold has almost no risk because the price tends to be stable, gold is not easily eroded by inflation and the price can increase even though it is not too significant.

1. Cutting down on unimportant expenses is the right thing to do, but we should find more sources of income that would be better. Because if inflation continues to increase, then cutting costs will not be enough for us to deal with inflation. Meanwhile, if we have more income, we will have less trouble if inflation continues to increase and spending is more comfortable.

2. Gold is a good option to deal with inflation, but what about bitcoin? It is also considered a more effective hedge against inflation than gold because it has a better growth rate than gold as well as a much more limited supply than gold.

[boyptc]

New research tells us that inflation may impact different groups in different ways. People's experiences with rising prices depend on where they live, how they earn, and how they spend. If an individual have multiple income source than they don't have to blame the government. If we are aware about inflation and start working hard, with making strategy and we prepare for coming inflation then then we find inflation is not that much scary and detrimental. Must prominent thing is not forget to invest. Investment is very crucial to overcome from inflation, it preserve your portfolio's value.

And there's this realization that we're all just living to survive and have to deal with inflation. Anyway, that's part of our lives and reality that we need to deal with because we're in this world.

Those that have experienced inflation will never have a second thought of increasing the sources of income that they've got. Having one isn't going to be enough so make it at least two or three.

If you will aim to have that kind of standard, you'll later on realize that you're not having a huge burden against it because you've prepared well for it.

[kojektea]

I add to also invest with gold it will be the most potential replacement currency in the future. Inflation cannot be avoided, the only way is to divert it to goods that will immediately increase and the selling price will not go down easily, the best is gold and silver in my opinion. Yes. you don't have to invest all your money, but in the long term gold is more useful to invest.

[GigaBit]

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?

When inflation occurs, almost every economic sector suffers a major disaster. At that time, how to reduce the cost of money becomes the main issue. You have made several important points out of which I think point no.5 is very effective. If we don't invest, we can never protect ourselves from inflation. Because if we save in the bank that too will not be effective due to inflation. It is not also possible to get anything good by keeping holding fiat money. But if we can invest then with inflation our return on investment will be increased. So there is no alternative for good investments to survive from the inflation.

[Cling18]

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?

When inflation occurs, almost every economic sector suffers a major disaster. At that time, how to reduce the cost of money becomes the main issue. You have made several important points out of which I think point no.5 is very effective. If we don't invest, we can never protect ourselves from inflation. Because if we save in the bank that too will not be effective due to inflation. It is not also possible to get anything good by keeping holding fiat money. But if we can invest then with inflation our return on investment will be increased. So there is no alternative for good investments to survive from the inflation.

These days, we have to deal with the unmanageable situation of inflation. To be honest, nobody is exempt from it; it affects everyone from every area of the economy. Since we still don't know what can happen in the future, we need to be disciplined and constantly concentrate on our preparedness to tackle the situation. Saving, in my opinion, would be the most powerful tool we could have to combat this issue. In order to be financially independent in the future, we must restrain our wants to spend money on things we don't need and instead concentrate on investing and saving where we can generate profits.

[Sterbens]

These days, we have to deal with the unmanageable situation of inflation. To be honest, nobody is exempt from it; it affects everyone from every area of the economy. Since we still don't know what can happen in the future, we need to be disciplined and constantly concentrate on our preparedness to tackle the situation. Saving, in my opinion, would be the most powerful tool we could have to combat this issue. In order to be financially independent in the future, we must restrain our wants to spend money on things we don't need and instead concentrate on investing and saving where we can generate profits.

The government's budgeted deficit made the amount of currency in circulation uncontrollable. The decline in the value of money causes people's purchasing power to decrease. Yes, I agree with you, it would be better for us to start changing our lifestyle, not buying unnecessary things to save money, preparing emergency funds such as saving, looking for additional income and investing some of our money from now on. At least with this we already have preparations if inflation does occur in the future.

[justdimin]

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?

Individually it would be difficult, you need to do it as a community. For example fed increasing the rates made the inflation slow down as we can see, however that also causes recession which means people would not be able to earn enough money.

What this achieved is stopping prices to go high, but also caused income to lower at the same time so it is not doing great. What's next? You need to decrease the rates again to make sure people invest, so that others could earn and that could end up with a lot of money going into the market and then inflation would happen again. So what can you do? Subsidies, which means tax cuts to stuff like factories and farms, the production. Not to marketing people, not to wall street people, not to accountants, people who produce something tangible.

[Supreemo]

honestly speaking, inflation cannot be solve unless everyone cooperates and do their thing to help the economy along with the full support of the government since change cannot be implemented or done by a single person. what you have listed OP aren't a single bit helpful in terms of inflation since even saving can cause more inflation if it's not done properly. the after effects of pandemic which we are experiencing right now is also the reason for inflation, not until all of this became stabilized before we can start to worry about inflation.

[Semar Mesem]

Inflation is a thing that involves many things, when inflation occurs it usually starts with an increase in food ingredients followed by other supporting factors, production costs that continue to increase create a domino effect so that inflation cannot be avoided, to overcome inflation the easiest thing we can do is continue to increase source of income.

[vanesha]

I think it makes the most sense to invest in a sustainable yielding asset like property, land etc or better yet to invest directly in gold. I guess that's more promising than anything. and it seems that there is no way to deal with inflation. there is only to avoid it by shifting assets to things that are not subject to inflation.

[gaston castano]

4. Consumption of domestic products

This is good for those countries that produce their own goods. But for those countries that are reliant on imported products then this isn't applicable to them.
There are countries like Iceland where the cost of living is high and then the inflation is also to be dealt with and people there have to bear with it because their country relies on the shipment of goods and products. That is why countries that are mass producing their own consumptions are just lowkey and doing pretty good.

In the case of Iceland, while the country does rely on imports for many products, it also has a strong fishing industry and a growing tourism sector. Additionally, Iceland has been making efforts to develop its geothermal and hydropower resources, which can provide a domestic source of energy and reduce dependence on imported fossil fuels.

[BVeyron]

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 think that there is a high risk of the worlds main fiats. As for crypto, I suppose they have a little chance to save the money in case of inflation. Actually it is one of the most interesting riddles in crypto world: the possibility of BTC and other cryptoprojects to remain valuable during inflation.