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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?

 

[btaliat]

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.

I am very sure an average person that still wants to survive this situation must by all means invest in some businesses that will serve as alternatives by which he will be getting money. Though, there must be research before investing.

 

[Wisdom01]

Getting involved in illegal act all in the name of surviving should not be encourage for any reason. If everyone get involve in illegal activities then there will be no law guiding anyone anymore and in a country where there is no law there is no crime. This kind of illegality will chaos in the country.

getting involved in illegal deals and business is the problem there , it's actually not good you get involved in illegal business ,there are some business you should take into consideration , like build and grow to your own definite expectations and others

 

[Xrin Nightfall]

Uneven price increases have an adverse effect on some consumers, eroding their real income and making inflation one of the most costly economic phenomena. For both the recipients and the providers of fixed interest rates, inflation can distort buying power over time.

 

[btaliat]

To really survive the incessant increment in the prices of commodities, I, personally buy what I need in bulk. This always save me from spending always on those commodities especially buying them at high cost since they rise in price almost everyday

 

[Wisdom01]

If oniy the capital left can afford to buy the land, it will be a good business of course. Most people even prefer saving their money into those thing more than banks and i also think that's always the best way because depreciation can never affect you currency that way.

it's best to invest with caution in the business you are willing to run ,some business particularly is actually risky and you are the one to take it to achieve more sucess ,if you actually place more emphasis on building the business to expectations first ,since that's the main thing

 

[Wisdom01]

Getting involved in illegal act all in the name of surviving should not be encourage for any reason. If everyone get involve in illegal activities then there will be no law guiding anyone anymore and in a country where there is no law there is no crime. This kind of illegality will chaos in the country.

it's actually not good for a person to focus more on illegal activities ,there are actually plenty of legal activities and business that could fetch the business you are running more customers and more gain ,I think you need to focus more on that first , having a good business is paramount

 

[Ben Kempton]

The risks involved in launching a business enterprise include uncertainty in the market, the risk to one's finances, the risk to one's health, and the absence of guaranteed profits. Freedom, a sense of accomplishment at work, and increased wealth are just a few advantages of owning and operating your own company.

I do not think that profits are always guaranteed, however, you could simply get an estimate of the profits when it comes to any business. You could possibly do that by analysing the demand of the product and comparing it to the supply of the product in the market. Long-term goals and demand of the product in the future also plays a role.

 

[Xrin Nightfall]

I do not think that profits are always guaranteed, however, you could simply get an estimate of the profits when it comes to any business. You could possibly do that by analysing the demand of the product and comparing it to the supply of the product in the market. Long-term goals and demand of the product in the future also plays a role.

It is in our human nature to desire to hide our head in the sand, to refuse to acknowledge reality, and to avoid confronting the challenges posed by the constant flux of the world around us. Making emergency and disaster preparation strategies should be a top priority. In a perfect world, you wouldn't have to use them, but at least you know they're there if you ever need them.

 

[Wisdom01]

I do not think that profits are always guaranteed, however, you could simply get an estimate of the profits when it comes to any business. You could possibly do that by analysing the demand of the product and comparing it to the supply of the product in the market. Long-term goals and demand of the product in the future also plays a role.

everything is really based on estimated profit , I think if you are willing to earn more money off your investment , the thing you should first consider is the strategy you have put in place , because that would increase the possibility of earning more

 

[GoldenLady]

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.

This is an excellent plan, but one thing that stops most people from using it is that they are not even aware of the possibility of planning this way.

Many people have never had to deal with a period of inflation or recession, and some people still won't be able to develop a plan for the time the next one happens.

 

[Skysaint]

The best way to survive would be to cut down your expenses and also remove your money from offline banks. I know it might sound a bit strange but having your money saved in a stable currency would make things easier for you and everyone.

 

[Frenzybliz]

The best way is to review your budget to see where and how inflation may be affecting your spending. You may need to set aside extra money to cover increases in prices. The money can be used to cover unexpected costs or to invest in a range of different options such as stocks, bonds, mutual funds and more.

 

[a_jerobon]

The best way to survive the inflation times is to exercise proper spending of money. If possible, you can greatly minimize on your wants and focus on spending wisely on your needs. That includes clothes, food and shelter. If possible, you can reduce expenditure by growing your own food, buying less expensive clothes and if you rent shelter, look for a less expensive house as long as your security and needs are safe.

 

[Frank008]

Being ready for it is the best way to survive when the inflation rate rises too much. When the government issues more money than it needs or when there is a sharp decline in demand for your currency, it might increase the amount of money that is accessible in your economy, which leads to inflation. When this occurs, you should be careful not to put all of your eggs in one basket. Although it's advisable to have some savings, if you don't invest your money, you could miss out on the chance to profit from rising inflation.

 

[Ben Kempton]

getting involved in illegal deals and business is the problem there , it's actually not good you get involved in illegal business ,there are some business you should take into consideration , like build and grow to your own definite expectations and others

I reckon that there are many people who do tend to avoid illegal businesses due to the fact that they do not want to get in trouble with the law. However, when inflation increases too much, many people get involved in criminal activities and some of them reluctantly get involved in such kind of activities. The government must do something to support people and create jobs.

 

[Wisdom01]

I reckon that there are many people who do tend to avoid illegal businesses due to the fact that they do not want to get in trouble with the law. However, when inflation increases too much, many people get involved in criminal activities and some of them reluctantly get involved in such kind of activities. The government must do something to support people and create jobs.

But I think that's not the excuse for them to get into illegal business , I think most people are more greedy ,as they are actually not seeing the opportunities and others available for them they just want to earn very fast and this could breed more problem

 

[Franca01]

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.

Actually, i think inflation will let the wise knows that it is never the best to always keep cash in hands. Cash always needed to be used for business in order to bring more cash which always made it to still function even if there is inflation.

 

[a_jerobon]

Actually, i think inflation will let the wise knows that it is never the best to always keep cash in hands. Cash always needed to be used for business in order to bring more cash which always made it to still function even if there is inflation.

Yeah, saving cash only leads it to losing value. It is much better to let that money work for you. You can invest in safe methods or start a business. That way, you will keep earning for a long time and your money is saved from inflation.

 

[Franca01]

Yeah, saving cash only leads it to losing value. It is much better to let that money work for you. You can invest in safe methods or start a business. That way, you will keep earning for a long time and your money is saved from inflation.

I think many people always fear taking risks that's why they always try to save it and the never knew that one is always very risky. We do invest with risk management method in order not to loss all when the investment will not be successful and the hope is, to always make it successful.

 

[KarimHall]

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 it comes to true survival, it is necessary not to throw money away. I would try first of all to eliminate waste or unnecessary consumption such as alcohol, gambling, cigarettes and the like. I would try to replace the car with more economically sustainable means: walking, cycling, scooter, bus, etc. Finally I would buy only what it needs, selling or bartering everything else. But I believe that any attempt could be useless without education to frugality, I assure you that in my country it would be necessary.