Post
Topic
Board Economics
Re: Savings during inflation
by
Davidvictorson
on 30/08/2022, 20:55:12 UTC
CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.

👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.

Lastly, investing is highly preferable to savings.
All the points you have made are very valid. However, since all fingers are not equal, I would advice that one should save irrespective of whether the economy is experiencing inflation or not. There are unforeseen circumstances that the money one may have put away may just come in handy. Besides to isn't the money save is what one would use to invest in any business venture especially when it is a small venture?