Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Ben Kempton]

Inflation is now becoming a really huge issue for many people who are struggling. I reside in a place where many people are really saddened by the wave of inflation and how inflation is having an impact on their lives. People are not able to buy products for their families and they are having a really huge problem dealing with the rising cost of services and products. It is predicted that the cost of living shall increase and the fuel prices will also increase. This means that other products like wheat, rice, cooking oil, meat, chicken, beef, and other kinds of grocery items will also become really expensive. During such times, how is it possible to survive?

 

[btaliat]

The first thing that man always learn is how to survive in every situation including inflation time. We may survive by impoverishing. This means we tend to conserve more. Then we need to make sure we add many ways of generating foreign currency to our portfolio. This will help us to mitigate the effect of inflation.

 

[SlotsGator]

The economy has its cycle, high and low, boom and bust. It means that this particular "state" whether it's growth or recession, won't be permanent. This means you can always plan and prepare for what the next state is going to be. I have enough savings to offset the price increase of goods and services. So if you saved enough when the economy was good, congratulations now may be a good time to use it.

The second most important thing besides utilizing your savings is to reduce/lower your consumption. If the gas price is expensive, try cycling or using cheap public transportation. There are always ways to save money.

 

[Franca01]

The first thing that help us balance our survival with high inflation is to read the economy cycle. In my country most people are now into crypto due to the inflation rate of this year. This will help balance the infalation rate because dollar is a currency that is leading over all the countries. If you hold more dollars you can actually balance the equation.

 

[Ben Kempton]

The first thing that man always learn is how to survive in every situation including inflation time. We may survive by impoverishing. This means we tend to conserve more. Then we need to make sure we add many ways of generating foreign currency to our portfolio. This will help us to mitigate the effect of inflation.

Inflation has taught me a really big lesson: save money! If I were saving my pocket money till this day, I would have had enough money that could help me to conduct business. If I were to have a job, i would have had enough money today. So, saving money is the best thing a person could do in order to battle inflation.

 

[koliman]

Inflation has taught me a really big lesson: save money! If I were saving my pocket money till this day, I would have had enough money that could help me to conduct business. If I were to have a job, i would have had enough money today. So, saving money is the best thing a person could do in order to battle inflation.

Thats a huge must for generally surviving on an economic level, always depending on your life value. You can invest on something that will get affected from inflation and the price will go up, for example if you have bought gas forex or invested in real estate.

My suggestions is to start building a internet marketing skill on something and start making some extra money with a 9-5 job for the stuff like rent,gas,food. Try working remotely for local people in your area, like business owners and suggest them stuff to do for better exposure on google or any stuff like that.

 

[Ben Kempton]

Thats a huge must for generally surviving on an economic level, always depending on your life value. You can invest on something that will get affected from inflation and the price will go up, for example if you have bought gas forex or invested in real estate.

My suggestions is to start building a internet marketing skill on something and start making some extra money with a 9-5 job for the stuff like rent,gas,food. Try working remotely for local people in your area, like business owners and suggest them stuff to do for better exposure on google or any stuff like that.

Actually, I am planning to save money in dollars rather than saving money in my local currency. A single dollar was equal to 70 Rupees in my country in the year 2007 and now the rate is 217. Do you really think that saving money in dollars will actually help me? What do you think?

 

[koliman]

Actually, I am planning to save money in dollars rather than saving money in my local currency. A single dollar was equal to 70 Rupees in my country in the year 2007 and now the rate is 217. Do you really think that saving money in dollars will actually help me? What do you think?

Actually investing in dollars or euros can be a more stable portofolio if rupes actually had a downfall like that. Plus dollar has increased price battling euro! More stable portofolio means more money for you if you start investing them and beeing a little lucky also helps!

 

[Riberet19]

Actually, I am planning to save money in dollars rather than saving money in my local currency. A single dollar was equal to 70 Rupees in my country in the year 2007 and now the rate is 217. Do you really think that saving money in dollars will actually help me? What do you think?

I think you do the right thing because although the dollar also has a large inflation but after all is the world reserve currency and is the most difficult could fall and the currencies of almost all countries have more inflation than this except the Swiss franc and few more, also the big investors are taking refuge in dollars because they expect more damage to the economy and have been preparing to make large purchases for some time.

 

[Sammydan]

Inflation is a serious problem that's affecting many third tier countries. The best way to survive it, I think, is to have many streams of income. If you're salary earner, then get engaged in business. At least the money you'll be getting from the two job should you a bit. The reasons why a lot of people are struggling is because they depend on only one job. It's not good at all. Even i, as a guy, have like 3 places I'm collecting money from every month, even if it's small.

 

[Ben Kempton]

Actually investing in dollars or euros can be a more stable portofolio if rupes actually had a downfall like that. Plus dollar has increased price battling euro! More stable portofolio means more money for you if you start investing them and beeing a little lucky also helps!

I think you do the right thing because although the dollar also has a large inflation but after all is the world reserve currency and is the most difficult could fall and the currencies of almost all countries have more inflation than this except the Swiss franc and few more, also the big investors are taking refuge in dollars because they expect more damage to the economy and have been preparing to make large purchases for some time.

Yes, I am saving dollars. However, the new finance minister in my country is trying to manipulate the price of dollar and he wants to see dollar go downward. However, it looks like he is not able to do so. Just look at the chart below and you can see that dollar's price goes up and comes down. This is a pattern followed by the dollar! So, under this kind of circumstances, do you think that it would be a good idea to save dollars?

 

[koliman]

Yes, I am saving dollars. However, the new finance minister in my country is trying to manipulate the price of dollar and he wants to see dollar go downward. However, it looks like he is not able to do so. Just look at the chart below and you can see that dollar's price goes up and comes down. This is a pattern followed by the dollar! So, under this kind of circumstances, do you think that it would be a good idea to save dollars?

View attachment 214907

I suggest you to exchange rupee when you can buy more dollars. But in general I could invest 20-50$ on a monthly bases and try to get something back out of it and hit the long run, cause saving is a long run believe!

 

[Ben Kempton]

I suggest you to exchange rupee when you can buy more dollars. But in general I could invest 20-50$ on a monthly bases and try to get something back out of it and hit the long run, cause saving is a long run believe!

Yes, but right now I am not trading in Forex. According to data from website Long Forecast, the dollar is expected to reach around Rs. 240 by the mid of 2023 (see charts below) and this might be a good news for people like me who hold dollars, but the real catch here is that the rate of inflation is growing at a really horrifying rate. Even now, the current rate of inflation in Pakistan is 25 percent!

 

[Skysaint]

Although many claim it's going to make the economic situation of the country worse and also hasten the devaluation of local currency but I think the solution would be to invest in a more stable currency like dollar and the rest of them.
That's what I am actually doing and it help make sure that I don't fall a victim to the harsh inflation we are experiencing right now.

 

[Horia_10]

The dollars won't save you and the best thing is to start a business which can give you passive income you may rent a vehicle , open a small shop and may take some cows and sell the milk for profits all are low investment ways to make a passive income which is the need of the hour according to this time of rising inflation actually indeed

 

[magnus2022]

The inflation is so devastating that almost everybody is at threshold point of breaking down. The best way to mitigate against this inflation is to diversify and find ways to earn more money. For example, I have offline business but I engage in online business to earn more money for survival.

 

[Riberet19]

The dollars won't save you and the best thing is to start a business which can give you passive income you may rent a vehicle , open a small shop and may take some cows and sell the milk for profits all are low investment ways to make a passive income which is the need of the hour according to this time of rising inflation actually indeed

But that also depends on the country where you live if you live in a country like Argentina that has an inflation are almost 3 digits the dollar if it can save you there are places where your currency is worth nothing and rises for hours in these cases the dollar can help preserve your wealth for longer

 

[Horia_10]

Yes , Right in that case there are quite many countries with three digit inflation but making an investment will always make it growing as you will be always charging according to the market exchange rates which will help you gain better in the long term .

 

[Jack / 47 F1]

Inflation is now becoming a really huge issue for many people who are struggling. I reside in a place where many people are really saddened by the wave of inflation and how inflation is having an impact on their lives. People are not able to buy products for their families and they are having a really huge problem dealing with the rising cost of services and products. It is predicted that the cost of living shall increase and the fuel prices will also increase. This means that other products like wheat, rice, cooking oil, meat, chicken, beef, and other kinds of grocery items will also become really expensive. During such times, how is it possible to survive?

when these hard times hit, go back to 1 of the oldest professions around. no, not ladies of the night. its time to get the black market going or bartering. governments hate the black markets but directly or indirectly, they push everybody into the black market. if you cant do something legally, then do it illegally !!!!!!! it comes at times when things that were legal are now illegal. i would rather get involved with the black market than starve.

you can also barter for things. you can exchange your work hrs for food, fuel, eggs or whatever. or if you have something somebody wants, then barter / exchange for something that they have.

so screw the governments & their stupid laws & policies. many times, the same politicians that pass these stupid laws / policies, dont obey them themselves. the so called elite want to ban meat for us masses. but they can pig out & stuff their fat faces with any meat they want, when ever they want. they want us to eat bugs, plants & weeds. then they fly around in their gas guzzling jets, spewing so called harmful co2 but we have to make sacrifices & go without.

 

[Xrin Nightfall]

When inflation is high, as it currently is in Canada, it indicates that prices are going up more quickly than earnings are. According to a survey of 1,018 Canadian people by The Harris Poll in March 2022 for NerdWallet, 45% of them are highly worried about inflation. Still another quarter of respondents (45%) are worried. It's not just Canada that will have to deal with it; the rest of the world will have to deal with it too. Do not keep cash on hand; rather, invest in real estate or Gold to hedge against inflation.