How to survive hyperinflation?

[Franctoshi]

Creating multiple sources of is the key answer to this harsh economy of today because we can't just depend on only one source of income to be able to survive this present harsh economic situation of ours, if you check the food prices, price of goods and services are on the steady increase while our salaries and incomes remain the same, so to navigate this, it highly encouraged that we create other streams of income to help caution the effect.

[Hispo]

I have lived in Venezuela for much of my life, so I know what it takes to survive inflation and I know how devastating it can be against the personal finances of anyone who does not have afortune.
People here in this country, went with crypto-currency, gold and even tried to produce their own food so they could offer them in exchange of money to their neighbors and friends.
Sure, our hyperinflation was a very situational and it was specifically caused because of the neglect of the government to the economy through the application of reforms which did not make sense in a very corrupt and closed society.

If I had any advice to someone looking to save their money from short term inflation, I would tell them to go for decentralized solutions, Bitcoin if they can afford to deal with volatility or some stablecoins  if they cannot afford to hold because some losses in the market.

[jrrsparkles]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

If a currency is flagged as facing hyper inflation then which itself a situation which most of the people who have that currency lost their value and now they can't do anything to safeguard. So they need to do things before anything happens which means never hold fiat money more than you need for the next 6 months or 1 year. And invest the money in whatever things you can which may vary to everyone's risk appetite and crypto is effective but the volatile nature may stop from a commoner to invest on it.

[flyingcarpet]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

One thing we can do is look for ways to increase our income and implement the options we find. Another method is to buy goods that maintain their value and wait. Many methods other than staying in cash are among the steps taken to protect you against inflation.

If the value of your money is decreasing day by day, investing can be applied to protect your money. Finding the right investment instrument is an important issue here. Many of the people here prefer Bitcoin as the best investment tool. My preference is also in this direction. Bitcoin is an investment tool that maintains its value in the long term and always makes a profit for its investors.

[ChiBitCTy]

The only correct answer is to be well diversified.  I would never only invest in just one sector, or one thing.  Sure you could get lucky and hit it big, but you're also leaving yourself exposed to large losses due to the lack of diversification.  It also all depends on your time-horizon.  When will you need to access these funds for example is a question to ask.  There are investments such as TIPS that were created to specifically combat inflation, but again it's just a piece of the whole investment pie, or should be anyhow.

[Captain Corporate]

To be fair, this depends on the amount of capital you have. When we were in hyperinflation during the pandemic period, I just kept on buying more bitcoin, and the price of bitcoin peaked at 68k as we all know. Obviously I didn't sell at the top, but it did alright. Plus, I had some business on the side during that period, didn't really profited all that much, like I didn't get rich, but it did ended up in profit even though it had many bad luck striking it, not a huge one, but at least I made more money then what ı invested into it, probably would have been better if I just kept it in bitcoin though, so not sure if that was a smart decision. However, plenty of people started business, and that means, you spend very little, and because everyone has money freshly printed for them, people do spend money, and you get to make a profit easier during hyperinflation period, because your customers are "richer".

[iv4n]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

And how do you plan to invest if cash is not the king? Do you have some gold/diamonds/something else valuable stashed around?

As some other members pointed out we are not in hyperinflation at the moment, it's just inflation... Everything costs a lot more than before, the prices have risen too much. But it's far from hyperinflation, hyperinflations are crazy, I remember some things from my younger days:

The inflation rate in January 1994, converted to annual levels, reached 116,545,906,563,330 percent (116.546 trillion percent, or 1.16 × 1014 percent)

Money was losing value every day... one day you could buy breakfast, the next day with the same amount you couldn't buy even a bubble gum. And how do you think we can safeguard from that? Just with some additional income... you either find some additional sources of income, or you get stuck a lot.

[mirakal]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

Find a new alternative and resort into bitcoin, not just to invest on it but to use it against hyperinflation. Although gold is a good alternative as well, but I prefer most with bitcoin. And when you already accumulate maximum amount and make massive profits, then the next step is to diversify your investment. You can invest in stocks or real estate, as well as gold itself.

However, what we are currently experiencing is still inflation, not the hyperinflation. But its better to prepare ourselves earlier so that when hyperinflation strikes, at least we have built our weapons not to be totally affected with hypeinflation.

[Husires]

Countries with hyperinflation have limited investments and limited access to money, as investing in stocks and Forex is considered a luxury. On the contrary, there may be restrictions on transferring to the US dollar or restrictions on withdrawal into the local currency.
Investment options are either in lending, real estate, gold, or commercial activities, which are not negatively affected by inflation because they maintain their value, which is usually the choice of many, and gold and real estate are the preferred choice for the majority.

Bitcoin is a new addition to the economy and may be the preferred savings method for millennials in the next few years.
I will choose to buy Bitcoin and invest in trade related to luxury, as hyperinflation means that there is a limited class that has become rich and does not know what to do with the money.

[kojektea]

Not everyone can rely on investments such as gold, shares or crypto. If we really are people who can't afford to go there, it's not good to be forced. I will suggest the lowest method, this is a method that can be done if you really have no income. is to make more friends, by learning to make them your friends so that you will feel a little lighter than having to think about investing first. this is a way of survival.

[vanesha]

learn to be more frugal. There is no need to really make investment the main solution to the inflation problem. Another problem is that investing requires capital. what about people who work just for their daily living? can they really make this a solution? I think we would be better off telling the lower classes to save enough and utilize existing natural resources to survive.

[diminizio]

Simple, make expenses as simple as possible, whatever prestige is in the eye of the person you want to buy, get rid of it first. Just how can we survive with the money we have. If we are able to save in gold, or learn to invest to get passive income and not just rely on our main income for expenses.

[Uruhara]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

I think hyper inflation conditions would really be very scary. The country's currency will usually be very worthless there. such as the case that occurred in Zimbabwe. We even have to take a basket of money to the market just to buy a basket of vegetables. The way we survive in this situation can only be done by avoiding storing our assets in fiat. We must protect the value of our assets by buying gold or spending on property. Or if we are breeders and farmers then buying land and livestock could be a wise step.

But if we talk about investment, Bitcoin can still be a good choice. For example, the case of high inflation in Turkey naturally encourages its citizens to look for areas of investment that they can enter even with small funds. and finally the adoption of bitcoin investment in Türkiye is growing rapidly. Because I might still invest in bitcoin if the situation in my country experiences high inflation. But there is a difference between hyper inflation and high inflation. Currently, high inflation alone makes it difficult for many people. So when hyper inflation comes. I don't want to imagine it.

[jasonjm]

To counter hyperinflation, it is important to invest your money into something and use cash for your day-to-day activities. When we talk about hedging against inflation, Gold is the first thing that comes to our mind. Gold is a store of value, but it will not give you a good profit on your investment.
Invest in Bitcoin and Stocks, and buy some mobile assets. Earn profit and store the amount in Gold or silver. Do not store your profit in banks or cash. 
Bitcoin, Stocks, Property, and liquid assets should be your go-to options in inflation.

[Poker Player]

But there is a difference between hyper inflation and high inflation. Currently, high inflation alone makes it difficult for many people. So when hyper inflation comes. I don't want to imagine it.

The problem with hyperinflation is that it makes everyone poorer very quickly, and even if you are one of the lucky ones who has been able to transfer your wealth to financial assets other than fiat currency crap, you are going to find yourself in an environment where people are starving, so you better not expose too much of your wealth as you may be a clear target for thieves and other criminals. Besides, even if you manage to live well by having wealth in other financial assets, living through the drama of a hyperinflationary environment is not pleasant for anyone.

[Blitzboy]

When there is hyperinflation, money is worthless because it hits so quickly and hard. What are you going to do? This is a great place for crypto, especially Bitcoin. Why? People worship bitcoin as gold - hard to get and not held hostage by the government. What about stocks? They change a lot during hyperinflation. Things for the home? They do have value, but you cant cash them in.

To be clear, Bitcoin is not everything. Its value can be all over the place, yet its decentralized, borderless.  Just think about it: the government cant control and print more Bitcoin. And there is a limit: only 21 million will ever be made. Thats a very rare thing.

Here's a tip: try different things. Do not put all your eggs in one basket. A mix of Bitcoin, stocks (think global), and things you need at home. Its like putting up a cash fortress one brick at a time. Remember that normal rules dont apply during hyperinflation.

[pinggoki]

You're thinking of surviving hyperinflation the wrong way, investing in crypto should be at the least 3rd in priority or 4th in priority, your first priority should be looking for a steady job that can pay you a steady paycheck and then in your second priority, you should be finding ways to make your meals much cheaper or even trying to build a small vegetable garden to hopefully alleviate your food expenses, in fact this could be a first priority because it can help you a lot in any kind of situation, can make you independent from markets if you make a sustainable garden. There's already a lot of YouTubers that can help you with making your own sustainable gardens.

[slashz9]

Yes, of course when cash is decreasing, people will invest to maintain or even increase the amount of their money, there are many types of investment so it depends on each individual's wishes.
I prefer to put my money in crypto because I already know its movements.
because I've been in the market for quite a long time.

[Xampeuu]

When hyper inflation occurs, of course what we do is secure our assets so that their value does not decrease, of course from the many investments we can choose, including cryptocurrency, but we also have to know the characteristics of cryptocurrency, because many of them fail and do not meet initial expectations. On the other hand, land is also a good investment with minimal risk, and of course the increase can exceed inflation

[DrBeer]

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

If you live in a country where hyperinflation is a "natural process" or such processes occur periodically, you have no choice but to diversify your income and savings.
1. look for a job that pays not in local currency but in other stable assets - dollar, euro, USDT, ....
2. Turn the income received in local currency or other unstable assets into stable ones - from buying stable currency to converting it into alternative assets - stablecoins, or top crypto assets. Only in relation to the latter there will be a remark - it is necessary to keep an eye on them, and make a logical decision on both buying and selling - after all, this is a purely speculative market.
If you got a lot of money, but unstable or those that will potentially soon suffer from hyperinflation - buy land, real estate.