Quote from: Youngkhngdiddy on Today at 12:04:27 AM

Quote from: Tallupooh on January 21, 2023, 06:19:24 AM

how to deal with inflation according to my community:

1. Save money
2. Prepare for an emergency
3. Looking for additional income
4. Consumption of domestic products
5. Start investing and saving

that is the way in my opinion to overcome inflation in society. then what do you think? Is this way possible to overcome inflation?

All these are important ways of handling inflation but I'll rather save in gold or stake in crypto currency rather than saving in a fiat currency controlled by the government.
You don't have to lay all your eggs in one basket so it's necessary to aquire more skills to increase the supply of income.
Spending wisely, by cutting cost on demands, making a budget and spending accordingly to the budget.

Putting money in gold and bitcoin is not called saving, but you are investing, and it can be risky, especially volatile and uncertain assets like bitcoin. But depositing money in the bank also cannot help us overcome inflation because the devaluation of the currency is greater than the interest the bank pays us. Yes, the solution of diversification is the best solution, putting eggs in many different baskets, both minimizing risks and ensuring asset value. Another solution is that we should look for more sources of income to cope with inflation, not just rely on savings and investments.