Inflation is making a mess of my savings.

[MFahad]

Actually there are some countries where the inflation is on peak and every citizen is working hard for handle such situations same situation is here in our country. Actually one can also not handle the inflation because of scarcity of jobs as population is increasing and the jobs become limited and the salaries are also not high to accommodate the utilities of home.

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

[tjtonmoy]

Banks will be all done in a few months here. The national bank is out of reserve money. A few days ago I was traveling and heard some guy talking about it in the vehicle. One of them works at a bank and he said that his bank where he works at is out of funds too. Our government kept it a secret from the public and for that, there isn't any official news. But many banks in our country will go bankrupt soon.

I don't know about any other country, but here in Bangladesh, once inflation happens, it never goes back to normal. People are changing the value of items on their own. And food products are the most affected by this. Because it is the only thing that people will need no matter what. In the recent few weeks, people were operating syndicates. They were storing food items and by making a shortage in the market they were raising the price high. Inflation and this kind of activity are really making our life a living hell nowadays. And as far as I can understand, the government is also involved in these syndicates and they are doing nothing to fight against the inflation problem.

[macson]

Inflation can come at any time, that's what i heard from my lecturer when i was still in college, and tips to escape inflation are to save as early as possible.  usually inflation will not last long ^{(depending on how the political conditions in the country are)}  

my little advice for you to get a little out of the bad effects of inflation that occurs is to look for additional income and invest in assets that are immune to inflation such as gold and bitcoin.  even rich people try hard to find income from anywhere to reduce the impact of inflation on their finances...
"don't give up in facing life, hang on"

[Unbunplease]

Actually there are some countries where the inflation is on peak and every citizen is working hard for handle such situations same situation is here in our country. Actually one can also not handle the inflation because of scarcity of jobs as population is increasing and the jobs become limited and the salaries are also not high to accommodate the utilities of home.

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

The problem is that no state is currently striving for negative inflation. That is, sooner or later current savings will depreciate if there is nowhere profitable to invest them. As for business, it is now very difficult to find a free niche, as all niches are practically occupied

[puloweh555]

Inflation cannot be avoided and indeed makes a country's economy chaotic with several prices of necessities rising and the effects of inflation can be felt by many things. But in my opinion, in a situation of inflation, we have to be smart in finding opportunities, make the crisis an opportunity, then we will pass it easily. Make the development of internet technology a job to earn extra money.

In essence, what you have to do is reduce unnecessary spending, stop spending extravagantly, work hard, and pray. because Complaining doesn't make the stomach full, it still supports the current government policy so that they focus on carrying out their duties.

But luckily I live in a village, a simple life, and everything is sufficient, raising livestock, and farming can be used to fill savings and investments. It can be said that in times of inflation, like now, there is a recession in the assets of many low-priced investments, so this is the right moment to buy land, gold, or bitcoin.

[Davian144]

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.

Everyone's readiness to face inflation will be very different, even though you say we must always be ready to face it by seeking more sources of income. But some people will definitely be forced to be ready even though basically they are still not financially ready for the arrival of inflation, so this is what usually becomes a difficulty for some people during inflation because not everyone has adequate readiness to face inflation in their life.

[EFS]

Inflation has been a problem all over the world, but it mostly affects our country. Türkiye was the country that lost the value of the currency the fastest. Since the government's economic policy is to depreciate the currency, we were the people most affected by inflation.
The reasons you mentioned are the causes of global inflation and there are more. Fortunately, we have Bitcoin in our lives and we can protect the value of our money a little bit. How could we protect ourselves in this inflationary environment if cryptocurrencies didn't emerge? Fiat money is perhaps in its last days. In this way, the value of Bitcoin is understood once again. It looks like we are entering a new monetary era.

[Captain Corporate]

It does it to us all, that is why we are dealing with crypto right now, I mean why would we not invest our money int othe most common currencies in the world. Like take dollar for example, if that was a good currency, we would all have it, and to be fair many parts of the world already has it, which means that people trust it, and all of their money is gone due to inflation. Just compare the average salaries and you will see very small increases compared to what expenses are, and minimum wage didn't increase all that much in USA nor in my nation neither when you convert it to Dollars as well, every year it starts a bit high, then every year it drops quite low. Hence, fiat is a scam, get into crypto.

[Davidvictorson]

I do not know where the OP is from but from where I am now the inflation is mostly likely to lead to a large scale protest. I know that we cannot generalize the effects of inflation to countries all over the world because some countries are not actually experiencing any inflation. But if you live in a country like mine, it is easy to understand the inflation and the effect it has on your savings. The Middle class is about to be erased. Each day there is almost like a 2% increment in the prices of goods.  While income and minimum wage remains the same. There is never a better than to do odd jobs and other jobs to increase the sources of one income because no one can survive on one source of income at the moment in my country.

[Fivestar4everMVP]

I do not know where the OP is from but from where I am now the inflation is mostly likely to lead to a large scale protest. I know that we cannot generalize the effects of inflation to countries all over the world because some countries are not actually experiencing any inflation. But if you live in a country like mine, it is easy to understand the inflation and the effect it has on your savings. The Middle class is about to be erased. Each day there is almost like a 2% increment in the prices of goods.  While income and minimum wage remains the same. There is never a better than to do odd jobs and other jobs to increase the sources of one income because no one can survive on one source of income at the moment in my country.

If you are talking about Nigeria, then you are completely correct, Sorry to use this this phrase but the economy of Nigeria is a deep mess, i really fear for the future to be honest, Many people who were once considered rich are gradually being returned back to poverty, if they are actually not yet in poverty, something really needs to be done and done fast, else, in a few more months or about a year from now, things might get really ugly.

The situation of my countries economy right now is nothing but a true explainer of what OP meant in the subject title which says that inflation is making a mess of his savings, for me really, it not about savings, as i no longer save my money in my local countries currency, its all about earnings, i cant believe how much i earn monthly this time around, but i still go broke before the end f every month due to the very high cost of things, the country is really crying for help and something needs to be done and done fast.

[Hamphser]

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.

Still a gamble if you do pursue on processing everything just for you to go into other countries. Good for you if you do able to succeed but if not then it would really be just a waste of money that had been used on

processing that kind of intent on which i couldn't really blame out someone on why they would really be having those main considerations on trying out to get some job overseas. Its true that the main driving force or factor on which pushes them to make out such decision is that they do have a difficult living with their current salary and it isnt really that enough for them to support their needs specially if you do have
a family on which it would really be leaving you no choice but to jump up with this kind of decision.

In the world that we are living today on which if you do live 3rd world or developing countries which economic situation and inflation is really that worst. No matter how you do work
but if the needs and other services are way too expensive then you would really be having that messed up life.

[Natalim]

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

Perhaps, it was the time that we need to look for something that we can earn money in a legal way.  Our expenses are growing and it was hard if our income is still the same. We need to be smart now and work hard or else, we might fall into huge debt. We can do a side hustle to maximize our time and skills, there are a lot of opportunities around us and they are waiting for us. It is just a need for us to push ourselves, we can't be lazy this time as the situation is getting harder and harder.

[Cookdata]

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?

When a country is at war, you don't expect such country to grow, you don't expect them to.have a minor adjustable +_ regulated inflation, it will an increase in inflation upon inflation and the war continues, so those the inflation because no County grows without inflation when they are in war considering the situation of Ukraine and Russia, it has never been a good headlines for Ukrainian, it's always Russia did this and that and that's why I think Russia is not as messed up the way Ukraine is, they are still balling hard on their economy but sorry that you got up caught by the political wars.

In my home country, I think our own is becoming unbearable for ordinary citizens to breath after new elected openly removed fuel subsidy. For economy to move forward, transportation must be cheap and working perfectly but ever since subsidy was remove on fuel pump, it has literally affected everyone and cost of everything is now on the rise while depreciating the local currency because the people importation is highly greater than their exportation, so the fight for $$ has increased and everything is going up, only lord knows what the government have on mind to prevent further inflation but the masses are suffering my friend including me.

[MinerHQ]

I do not know where the OP is from but from where I am now the inflation is mostly likely to lead to a large scale protest. I know that we cannot generalize the effects of inflation to countries all over the world because some countries are not actually experiencing any inflation. But if you live in a country like mine, it is easy to understand the inflation and the effect it has on your savings. The Middle class is about to be erased. Each day there is almost like a 2% increment in the prices of goods.  While income and minimum wage remains the same. There is never a better than to do odd jobs and other jobs to increase the sources of one income because no one can survive on one source of income at the moment in my country.

It is disheartening to witness the daily 2% increment in the prices of goods, making it challenging for individuals and families to maintain their financial stability. Odd jobs and multiple income sources have become essential to cope with inflationary pressures and ensure survival.

While we acknowledge that inflation varies across different countries, it's evident that our nation is facing a critical situation. The government must take immediate action to address this issue and implement effective measures to stabilize prices and protect the purchasing power of our currency.

Considering the Federal Reserve's evaluation of inflation using various price indexes, it is crucial for our policymakers to carefully study the situation and adopt strategies that consider the long-term effects of inflation on our economy.

[jaberwock]

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.

Machievelli basically wrote that in order to be heard, without getting beheaded for it so he presented it as a gift lol, so take his words with salt, he was an egoist who think he knew, but probably didn't. At the end of the day, inflation is required, in order for humanity to grow, and yes maybe not required this high, but it also can't be zero, that would be terrible, we need like at least 3% growth every year to make it look like we are getting richer.

The finite amount of money would not make that work, so we need to print more money as well, not this much of course. Savings can be recovered if you could invest into smart stuff, like bitcoin, and that will make it go up soo enough and be over ATH in the next year or two.

[dothebeats]

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?

I should say inflation is here to stay. We can somehow reduced or minimize it but we can’t totally make it vanish in the thin air. So if you won’t do nothing about it, then you will forever be living your life struggling with your finances. That’s why bitcoin is here, not to completely free us from inflation, but to somehow deal inflation like it can’t totally affect our lives. With bitcoin, the price is not controlled by the government or any third party, so expect that it’s price will only depend on its supply and demand, and not because it will also surge high since everything around have turned very costly and expensive.

I agree. You have to do something about it now, instead of waiting and hoping that inflation will magically disappear. If you don't do anything now then it's like you're ironically waiting for a permanent problem to somehow just disappear.

[Kakmakr]

The governments of this world can only "manipulate" the economy for so long, until the cracks are too big to hide. The clever economists have warned of a situation like this, but they were labeled ==> Doomsday Prophets.

During the previous economic crisis, GOVERNMENTS bailed out Banks with tax payers money and the "hurt" was postponed and masked over for a few years. Now, those cracks are bigger and tax money less, because more tax payers lost their jobs and businesses are suffering. (People buy less, because they cannot afford it with the higher inflation and the higher price of goods and services.... so the government earn less taxes.

Things are in a downward spiral.... and the domino affect are killing the middle income tax payer and the poor are asking for more support from the governments. (they have less taxes... so they cannot help the increase in poor people)

[Marvell1]

Actually there are some countries where the inflation is on peak and every citizen is working hard for handle such situations same situation is here in our country. Actually one can also not handle the inflation because of scarcity of jobs as population is increasing and the jobs become limited and the salaries are also not high to accommodate the utilities of home.

I Think it will be better for those who don't have enough income to enter into dual jobs at a same time so if one salary is not enough then other salary will easily manage one's needs. Getting job is also not easy so try to settle some business in such area where there will not such business present before so it will gives greater profit.

I don't think it's a good idea because not everyone can run a business, and to be in business requires a certain amount of capital. Those who are economically disadvantaged are those who do not have enough money to live, so how can they do business? Most businesses are facing many difficulties, how can we ensure our business will do well during inflation? I think this idea is not new but not many people will do it because it is not easy.

[MFahad]

The problem is that no state is currently striving for negative inflation. That is, sooner or later current savings will depreciate if there is nowhere profitable to invest them. As for business, it is now very difficult to find a free niche, as all niches are practically occupied

 No state is working for reducing inflation therefore people themselves are working hard to satisfy their lives may be its part time job or working abroad for earning good income for take care of their families.

 As people now use money for investment in order to make their future profitable so if unfortunately this method ends so there will surely be another technology arises because with passage of time new and strong technology comes into existence which more better than previous one.

 For business free niche is not available but there is not one business, so many other business are there and also online jobs are available where there is no limitation and everyone can easily access to it but for that business money is needed so try to save certain amount and then initiate some business for getting good profit from it.

[Peanutswar]

The same case scenario here in the Philippines before the amount of 20 USD is fair enough to sustain for almost five days for food, but right now half,f of it, even the 20 USD, just caters a daily survival only or even takes three days if you have an excellent proper management of money. People see that storing their funds in those banks or even cold cash as the best way to save is not the reality; inflation continuously increasing makes your money less valuable. Reason why good to have a good cashflow so you don't need to think that your money in the future makes a zero or even less value.