Quote from: Inwestour on February 08, 2024, 12:19:27 PM

Quote from: Rockstarguy on February 08, 2024, 10:19:48 AM

Everything have increase in ×3 or 4 and the income of people still remains the same, it is not even easy to meet up with daily demands. With the terrible economy now and increasing inflation from time to time I don't think savings is the best because currency is losing value constantly. This is the time to invest atleast to bring more profit instead of living it in the bank. Saving to invest is very important for the future because know one can tell what the economy can be like after now, if it will get better or worse. This time the best thing to do is to look for a way to increase the income to meet up with the needs and to invest some for the future.

Inflation is a tool that is used to prevent ordinary people from achieving a comfortable life. Goods and services are constantly becoming more expensive, this happens all the time, but their incomes are growing comparatively slower, so the standard of living is gradually declining.

Also, Inflation makes the rich become even more richer. Those who are below the social stratification will always be the ones who's going to suffer when there are financial crisis and rapid inflation rate. People will need to be wise in how to save their money these days, otherwise even the savings are not safe from inflation. It's really hard to see your hard-earned money that's being saved and gradually losses a portion of it's purchasing power.
Yeah, this has been happening all the time and every year the inflation has become even more greater that the wage increase can't catch up with it.

Quote from: Inwestour on February 08, 2024, 12:19:27 PM

You need to save, without this you will not be able to create capital, but you must make sure that your savings work and are protected from inflation, this is the only way to save and increase your funds. If you only save and keep your savings in a safe for a long time, they will only depreciate over time.

Banks will depreciate all savings over time, regardless of the annual interest of your total savings. Bitcoin for sure is one of the safest asset where you can put some of your savings into to prevent it from losing a portion of it's purchasing power.