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[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?

 

[Riberet19]

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 .

Yes you are also right if you want to protect your money in a hedge against real inflation or in a value refuge also called better to opt for gold silver platinum etc .. Since bitcoin has not proven to be although if I think that in some future it can become but it remains to see that the dollar although it continues to depreciate it is normal that in many countries like Argentina Cuba Venezuela etc fight for them because it is practically an investment seen from their eyes

 

[Ben Kempton]

Yes you are also right if you want to protect your money in a hedge against real inflation or in a value refuge also called better to opt for gold silver platinum etc .. Since bitcoin has not proven to be although if I think that in some future it can become but it remains to see that the dollar although it continues to depreciate it is normal that in many countries like Argentina Cuba Venezuela etc fight for them because it is practically an investment seen from their eyes

I think that the greatest way to counter hyperinflation is to invest in properties and real estate business. However, if you live in a country where surviving is almost impossible, then you could consider investing in commodities like gold or overseas properties. This is also a good way to combat inflation.

 

[Riberet19]

I think that the greatest way to counter hyperinflation is to invest in properties and real estate business. However, if you live in a country where surviving is almost impossible, then you could consider investing in commodities like gold or overseas properties. This is also a good way to combat inflation.

yes, everything depends on your economic situation and your possibilities although in my country buying a home is very very expensive can be around in a large city 250-500k dollars so for my part I see better investments in precious metals since they can give you a good return and you do not need such a large investment in your country as the real estate is priced?

 

[Horia_10]

Exactly not every market or business is for Everyone but any real business that involves effort and can provide passive income on consistent basis is good whether small or large , the best option is to purchase land or a small shop that sells fast food in a crowded location and attracts people

 

[btaliat]

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.

Ironically, saving is not good during inflation. The best option is to invest. Let me tell you the reason. Let's us assume that you have truly save since then till now and you have may be $1000. You will agree with me that the market value of such money will not exceed $700 by now due to inflation.

 

[Horia_10]

Indeed that's right the purchasing power parity of a currency falls when there is inflation and more than inflation the consumer price index in a country is a more accurate indicator of how things went up/down in a country in a year so that is why investing is definitely first choice and that too in safe and passive return Businesses .

 

[Ben Kempton]

Ironically, saving is not good during inflation. The best option is to invest. Let me tell you the reason. Let's us assume that you have truly save since then till now and you have may be $1000. You will agree with me that the market value of such money will not exceed $700 by now due to inflation.

Well, what I meant by "saving money" is actually "saving dollars", not your local currency in case you are not residing in the United States. This is because the value of dollar shall eventually increase. I have attached the screenshot of the rate of dollar to my currency and you can see how much the rate has increased within the period of just one year! So, saving dollars or other kind of foreign exchange might help you to battle inflation.

 

[btaliat]

Well, what I meant by "saving money" is actually "saving dollars", not your local currency in case you are not residing in the United States. This is because the value of dollar shall eventually increase. I have attached the screenshot of the rate of dollar to my currency and you can see how much the rate has increased within the period of just one year! So, saving dollars or other kind of foreign exchange might help you to battle inflation.

View attachment 215111

Unfortunately, dollar dropped in value against my local currency with almost a percentage yesterday. There was a guy that bought $120000 of dollar at #820 last week for investment. Only for him to read the news that the current price is now #710 per dollar. That's why we still need to becareful doing this.

 

[Horia_10]

There is always manipulation in such markets by the authorities and the fall in currency or devaluation does not makes the USD strong it remains strong but the purchasing power of other country falls since it looses investors trust on falling and that is why its never USD going up , it remains stable while the related and concerned pair of currency falls or gain with it .

 

[Riberet19]

It is said that to beat inflation we would have to invest something that was totally different from deflationary bone such as bitcoin or gold (although this has an inflation rate but is low, which would be the amount of gold extracted per year) but it seems that none of the 2 is really working for now, Another way would be to find an asset that gave a return of more than 10% per year (referring to the country where I live) that in the current market is difficult to find unless you have real estate but not everyone is privileged to invest in these markets

 

[Horia_10]

That's Right , you can start investing in Asian countries they have high interest rates and therefore you can earn much better on depositing USD there , which might be just sitting ambling in your account and doing nothing so this is an option that you can analyze and implement for higher return sources actually indeed .

 

[btaliat]

During inflation,it may still be advisable never to save but rather stock the room with food. This will allow us to beat the future expectation of rise in the price of commodities. Aside this, it is not also advisable to borrow. When you want to get your money, inflation might have reduced the purchasing power of your money.

 

[Horia_10]

That's right the food is definitely the one thing that rises up fast but if we stock things and do hoarding some poor and needy might not find it able to get cheaper foods in inflation so we should take only what we need for a month and let the poor get the maximum advantage of the discounts offered indeed .

 

[Walker42]

The best approach to reducing the effects of inflation for the average consumer is to have assets and investments that increase in value. Since inflation frequently reduces the purchasing power of money, setting your funds to increase over time ensures that, if your investments are successful, your dollar will ideally outperform inflation.

 

[BullyMaguire]

Well it depends but personally if it gets too high that we can't afford lots of things such as foods i would be planting some easy growing crops so i wouldn't need to buy in the market. Basic vegetables that is almost in every dish like onions are very expensive in my place nowadays and i think the inflation isn't even that worst. So if it gets mich worst i can imagine how much the goods are gonna cost

 

[Riberet19]

The best approach to reducing the effects of inflation for the average consumer is to have assets and investments that increase in value. Since inflation frequently reduces the purchasing power of money, setting your funds to increase over time ensures that, if your investments are successful, your dollar will ideally outperform inflation.

The problem is that in the market that we are everything is depreciating almost nothing is gaining value even stores of value such as gold are falling, it is very difficult to find an asset that gives you a return at the moment of now above 10% talking about inflation in my country, maybe next year the market changes trend and we start making money in the markets with investments but at this moment everything is dyed dark

 

[Omotunde]

When inflation rate gets too high, I don't think there's a reasonable solution out of it so far you will consume goods and services right in the country, the possibile way out that would reduce the effect of the inflation is when you have a stable means of income where you are earning huge amount of profit.

 

[btaliat]

It is said that to beat inflation we would have to invest something that was totally different from deflationary bone such as bitcoin or gold (although this has an inflation rate but is low, which would be the amount of gold extracted per year) but it seems that none of the 2 is really working for now, Another way would be to find an asset that gave a return of more than 10% per year (referring to the country where I live) that in the current market is difficult to find unless you have real estate but not everyone is privileged to invest in these markets

That's right. It seams we are just having economic downtime for now. None of the economic tool is working for now. Both fiat investment and digital investment seems not working. The only best thing to be done for now is just to focus more on long term investment to survive the hardship of the inflation.

 

[Dagov]

Humanity must always learn how to survive under all circumstances, including times of inflation. We might get by by getting poorer. As a result, we tend to be more frugal. Then, we must ensure that our portfolio includes a variety of methods for generating foreign money. This will assist us in reducing the impact of inflation.

 

[Franca01]

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.

Actually it is true, we don't always have to depend on only one job. As you said, if you earning monthly salary as your secure job, you need to invest half of it in a functionable business that you think it can yield profit to you. This can help you to get recover during inflation.