Quote from: Issa56 on February 02, 2024, 11:43:50 PM

Quote from: Iroh on February 02, 2024, 03:23:14 PM

Having considered what inflation does to the value of money, I think it’s still worth it to have a reasonable amount of money in savings. If one wants to save money for a long period of time, there are accounts(fixed deposits account)opened for just that purpose. That way, you won’t feel the brunt of inflation that much.

It’s also real nice to have an investment as if managed properly, it could turn out very profitable but you should note that investments ordinarily take quite a long time before it starts to constantly yield positive results if any.
Sadly, not everyone has the means to have an investment as there are a lot of people who struggle to save. If it’s difficult to save, how then could they squeeze out money to invest?

Many people have found that saving money has been very helpful, but these days, all they need to do is invest it instead of saving it because inflation has caused money to lose value. Even if you save thousands of dollars now, it won't solve your problems because of the high cost of commodities. For this reason, people whose salaries are increasing are not seeing a change in their daily lives despite price increases. as well as having a respectable sum on hand for whenever you need money or in case of an emergency. and there are no huge profits from fixed deposits either. The globe is evolving into new phases. and management is necessary for everything. And the moment you invest in anything, your main concerns will be survival and profit. Survival is crucial because there are a lot of businesses out there that have the potential to fail, so you need to be a good thinker to succeed because investing requires a lot of thought.

Firstly inflation can lead to depreciation of the value of money and simply saving without investing money can result in loss of purchasing power over time. secondly rising commodity prices can hinder positive changes in lifestyle despite increasing salaries so investment is considered a better solution to increase the value of wealth. next the focus on survival and profit in investing is considered important, requiring careful thought and management to avoid potential failure.