Inflation is making a mess of my savings.

[Wend]

...snip...
How are you guys pulling it through with this inflation?

Instead of complaining and criticizing the government, I'm doing more work, finding ways to make more money, and I'm fine regardless of whether inflation continues to rise or fall. Life often doesn't turn out the way we want it to and we need to prepare for situations like this instead of criticizing others. The government or any law enforcement should be accountable to its citizens, but sometimes they can't do it all for us, and we need to find a way to save ourselves.

[Lucius]

I'm sure it's not the same in all countries around the world. I just googled about Germany and France:
~snip~

You can hardly comfort someone with this data, because even if this data is accurate (which I doubt) the actual data is far more negative and everyone who lives in those countries knows it. I compared the prices from last year with the prices this year because I keep my bills from everything I buy, and the price increases range from 20% to above 100% for some items.

Of course, the aggravating circumstance is that since the beginning of the year my country has joined the eurozone, and this has proven to be a catastrophic move combined with inflation. Those who have been or will go this year on holidays in the Adriatic Sea will feel it on their wallets.

[Pierre 2]

Inflation is a posion slowly killing society. Its worse than anything possible because wages gradually decrease, saving gradually decrease, companies start to not invest at all because inflation messes their supply chains as well, economy getting smaller bites workers back so some of them become unemployed etc. First ever thing to do, when someone enters investment league is to combat inflation and find options that will protect/secure your investments again inflation. If inflation is %5 your savings should be getting at least %5 in return etc. Hard task for average people.

[Pejoh Asu]

Inflation, of course, makes many things chaotic, I also feel that inflation makes it more difficult to save, many people even sell assets or go into debt to make ends meet because of inflation, of course this makes us have to be ready and always look for many sources of income.

[Cryptomultiplier]

War or not, many countries are going through the inflation and we can see that the rift between the rich, middle and poor is widening daily.
Those who were classified as middle class now fall to the poor zone and the rich becomes either richer or falls to middle class. That's how it is.

That's why it is advised for one to improve on his skill base always, and get better knowledge of what puts food on the table and pays the bills.

In my country currently, according to the National Bureau of Statistics (NBS), inflation has risen to about >=22.79%. this is a 0.38% increase from what it used to be.

My say is you should do your best to save still and manage creatively inorder to meet up.

[GeorgeJohn]

Do you that it's because of inflation that makes some people to began to look a means of making investing their money because everyone is looking at the investment it can venture that will help to make it money capital or finance to be valuable, so I will say that should be one of the major reasons bitcoin investment and bitcoin price is appreciating from my perspective.

[xSkylarx]

Prices right now, like gasoline, are now cheaper than the previous month, but still, it is not back to its original price, and I am not sure it will, but still, it goes down, but other foods and other stuff are still the same, and they are not getting their price cut because the supplier is still the same. Inflation is less right now, as forecasted by the news, but still, we can't feel it the same way. This is mostly because merchants are still continuing to raise their prices.

[Wimex]

The truth is that it is not easy to deal with these constant price changes, you are literally living simply to work and have a plate of food on the table, you can no longer enjoy your savings to go on vacation as before because there simply no more, all the money you earn is practically spent on the most necessary things and sometimes that is not even enough... I wonder how parents with a large number of members will do and that only one contributes to the house, I suppose they will only eat once a day... what is happening is worrying, And more so because this is worldwide, thre is no way to escape inflation and return to having a peaceful life, unless of course other income alternatives are sought, such as bitcoin, for example, which as we know is one of the options that can help in situations like this. And in the event that things with legal tender coins continue in this way, the most feasible thing would be that a reform be presented in terms of how the economy is currently managed...

[Darker45]

It's not just now that inflation is making a mess on our savings. It happens all the time. It's just that instead of little by little there are times when inflation grows uncontrollably high. But we can understand because things have happened. There was COVID-19 and then there was that stupid invasion also.

But it's not like governments are not doing anything about it. We've heard countless of times how interest rates are being raised a number of times in many countries. That's one way of confronting high inflation.

But let's probably find alternatives in saving, especially if long term.

[Ayers]

snip


But let's probably find alternatives in saving, especially if long term.

That's what I'm saying, why don't we find an alternative and just keep complaining about everything? Do whining and boredom reduce inflation? Inflation is part of our economy and has been with us for thousands of years, but we will feel it more clearly when the world has major events such as pandemics or wars. And how many generations ago we always pass, but why do we always complain about everything in our time? If we know inflation will mess up our lives, we need to find a way to fix it, and there is always a way to deal with it.

[adzino]

Yes, inflation might be a mess in your country, but how come you are sure nobody is doing anything about it? Of course, they are. Just because you aren't doesn't mean that they aren't. I am sure there are "smart" people that knows how to survive this inflation. They aren't holding fiat money and saving it in banks. They know the interest they are receiving can't beat the inflation in the long run. So yeah, they are "investing" their money to beat the inflation. There is nothing you can do about the inflation if your government isn't taking appropriate steps. All you can do is go along with the inflation and fight with it through investing on different businesses or assets or crypto currencies that in the long run will give you more profit. Even though there are risks, it is a risk that you must take or else the value of your money will start dropping.

[Mame89]

How are you guys pulling it through with this inflation?

The inflation rate cannot be avoided, including in my country, which means that the purchasing power of our money is always decreasing, which is indicated by the increase in the price of goods. Inflation is unavoidable, so we need to find a strategy so that our savings don't fall apart during inflation.
1. Find additional work to make a lot of money.
2. Pay off debt and don't be in debt.
3. Sell idle assets right now.
4. Investment in bitcoin assets because bitcoin is one way to avoid inflation.
5. Efficiency
6. Take care of mental health and psychology.

Little extra. When you get a salary, the salary can be separated immediately by using a strategy with the 50/30/10/10 formula. 50% need, 30% Bitcoin Investment, 10% Desire, 10% emergency fund. Because I think this strategy is optional if it turns out that our needs are not up to 50%, we can reduce the needs, then add it to the bitcoin investment list.

[Broly46]

Take it at a different perspective. Inflation is horrible. The impact on individual is also uneven.
it is clear highly dependent individual would mess up their life greater during inflation. For the self suffice individual, they too are suffering, but they could navigate their life through this mess with ease. A country which is highly depending on import industry to survive is gonna screwed up badly. But a family of the said country might be easier in contrast, due to big companies such as a country are much slower to move forward and change quickly.

[Gallar]

~Snip
How are you guys pulling it through with this inflation?

To be honest, currently the state of inflation in the country where I live, can be said to have subsided. Because I can see and feel it, starting from all the staple foods, almost 85% of the price is stable again. The prices of electronic equipment and clothing have also stabilized. So in my opinion, the inflation that hit the country where I live has decreased quite a bit. Although there are some things that are still rising, such as fuel oil. But all of that can still be anticipated, because the increase is not too high.

So for now, you could say I've been able to get through periods of inflation, and as long as I'm going through periods of inflation, actually I don't have any special tricks to deal with situations when inflation is taking place. Maybe what I do, is the same as what other people do when dealing with inflation.
Such as being frugal, taking advantage of all available opportunities, and being wise in using money (can distinguish between needs and wants). And what I did, in my opinion, is an important point to be able to deal with a situation when inflation occurs.

[Fortify]

Inflation is really biting hard, and nobody is doing anything about it, should we all just go with what Tupac said, "that's just the way it is, things will never be the same".
A lot of person's have ascribed this global inflation to the crisis Rocking Ukraine and Russia,  a lot of person's have also said it's as a result of shortage of gas supply across Europe and other countries.
The whole story is not just clear, as to why inflation is biting so hard and IMF AND WORLD BANK are not doing anything about it and the people are just left to face their fate alone.
The prices of goods and services are constantly going astronomical high and there is no hope insight of this ugly situation coming to a halt.

The purchasing powers of citizens are getting weak and I don't understand if the consumer protection laws are even effective anymore this days.
You buy something for a certain amount today, in the next one week, that same item you bought  has charged Prince without any reason.
How are you guys pulling it through with this inflation?

In my country at least it appears that some banks are starting to offer very attractive saving rates, as they pass along the central bank rate. Considering a couple years ago it was hard to find better than 1% on a savings account and now you can find 5%+ it's worth moving your savings around. Many people take a long time or struggle to adapt to new financial environments but it is key because little stays the same when it comes to money.

[isaac_clarke22]

Inflation is a posion slowly killing society. Its worse than anything possible because wages gradually decrease, saving gradually decrease, companies start to not invest at all because inflation messes their supply chains as well, economy getting smaller bites workers back so some of them become unemployed etc. First ever thing to do, when someone enters investment league is to combat inflation and find options that will protect/secure your investments again inflation. If inflation is %5 your savings should be getting at least %5 in return etc. Hard task for average people.

This is one of the reasons that the people here in my country tend to just job hop in foreign countries to find a better-paying opportunities and it is just the reality of how it is going in here. What's cheaper in US might be expensive here in my country so the people here are perfectly fine on the minimum wage in 1st world countries.

Some people just do settle for less since they do not have the choice at all. It's better than being homeless at all anyway.

[khiholangkang]

snip


But let's probably find alternatives in saving, especially if long term.

That's what I'm saying, why don't we find an alternative and just keep complaining about everything? Do whining and boredom reduce inflation? Inflation is part of our economy and has been with us for thousands of years, but we will feel it more clearly when the world has major events such as pandemics or wars. And how many generations ago we always pass, but why do we always complain about everything in our time? If we know inflation will mess up our lives, we need to find a way to fix it, and there is always a way to deal with it.

Yes this does not mean that if you continue to complain, alternative choices must be taken in situations like this, we cannot continue to lament the situation and say frustration to the government which until today has not been able to control the economic situation due to massive events like before, it is not we can reject and or repeat so that it never happens, it all has happened and we must realize the impact today, we really have to deal with it and accept reality, and also need to find alternative solutions that must be Amabil so that our situation does not become more Bad, even though you have to work twice as tired than before.

Yes, inflation might be a mess in your country, but how come you are sure nobody is doing anything about it? Of course, they are. Just because you aren't doesn't mean that they aren't. I am sure there are "smart" people that knows how to survive this inflation. They aren't holding fiat money and saving it in banks. They know the interest they are receiving can't beat the inflation in the long run. So yeah, they are "investing" their money to beat the inflation. There is nothing you can do about the inflation if your government isn't taking appropriate steps. All you can do is go along with the inflation and fight with it through investing on different businesses or assets or crypto currencies that in the long run will give you more profit. Even though there are risks, it is a risk that you must take or else the value of your money will start dropping.

Inflation does not only occur in his country, which I know all countries are almost experiencing very wild and difficult inflation to control, and it is quite sorry if saving money in the bank, it is the same as throwing money in my opinion, even though the amount of money or the number is still large, but The value is increasingly drained, we better take the risk of investing or using the money to open a business that has the potential to develop in their respective regions.

[kryptqnick]

The inflation wasn't a problem in 2022-2023 to many countries, and among those countries that had issues with it, there were very different situations of how bad it really was. In any case, it seems that it's getting better, much more stable. Of course, I don't know what country the op is from, and some countries regularly struggle very hard with inflation, but it's getting better with each month in the EU and is totally fine in the US.
Judging from op's other posts and that the op is occasionally posting in Nigeria's local board, I assume that might be the country in question. I checked Nigeria's inflation rate, and it's been growing, sitting currently at around 23%, so it's quite bad. But it's not a global matter, and it's not due to global matters like the aftermath of the pandemic or the ongoing Russia's war against Ukraine.

[Latviand]

The problem is that we are always bombarded by negativities about inflation when in reality it's a really good thing but in the case of inflation, good thing and bad thing has a hair's breadth line to get across from good to bad inflation, inflation is an indicator in an economic growth but if left unchecked like the balance in inflation of goods and services and wage increase being tipped over, inflation becomes a bad thing. Regarding your savings, some might say that putting it in a bank will be a good way to protect your money from inflation but the problem with that is most banks' interest are fixed no matter how high the inflation is, I guess we just have to continue enduring this until enough people had enough of this BS. My way of pulling through this inflation is just trying to make my food more nutrient and calorie dense so even if I eat less, I will still feel full and still get the right amount of nutrients, I know that it's a weird way to cope with inflation but it works, I don't have the exact amount of money that I've saved doing this but I was able to buy myself some Marshall earbuds this month and still have some money to buy some bitcoins.

[BenCodie]

This is how economies and monetary policy works. Decades of growth and "good times", paired with a lot of bad in a very short period. Just like Machiavelli concluded, to rule successfully, you must drag out the good news and when bad things must be revealed, do it all at once and very quickly. This is the only way to keep people complacent and to prevent uproar.

If economies reduced duration of stable times where people are at least content in order to reduce the blow/severity of economic troughs, which in turn extends trough duration, there would be much more uproar. As always, in the next 1-5 years, things will hit their worst and then get better, the people will be complacent once again for another 10-20 years after the dust has settled...then the cycle will repeat.

In the meantime, young people like yourself will question the tough times when they arrive until they see later in life that this is just the cycle and how it works. Just like Bitcoin newbs who have to experience one, two or three halvings before they see how the Bitcoin ecosystem works.

This is coming from the perspective of that everything is controlled. The reality is just as equally likely to be that unintelligent, irresponsible and greedy people at the top cause the same mess over and over again, because it doesn't ultimately effect their class.