Quote from: Zoomic on April 05, 2024, 11:20:15 PM

Quote from: Pi-network314159 on April 01, 2024, 11:00:11 PM

For me cutting down expenses would be another way of adding value to our money. Like cutting down the rate we eat, for those that spend alot on food, you can do better without over eating. the way we buy unnecessary items that has no value, when we have other useful things to do with money. So lets focus on the top priorities, expecially things that will bring more Money.

Cutting down on food will solve no problem, it is simply a case of suffering and smiling or enduring in the midst of hardship. Food is a basic necessity, therefore cutting down on it is not a solution.

During inflation, salary earners with no significant increase in their salaries suffer due to over dependence on their meagre earnings. During this period, people tend to cut down on so many things that are not necessary, but this is not just enough. The period of inflation and economic hardship is the time to diversify and look for means of increasing your income instead of relying on one source of income alone. There are so many means of earning more income legally without stressing yourself out physically, emotionally and financially, all that is needed is the right information. To survive this period, you must be smart and creative.

Agree with you. Reducing food is not a solution to overcome inflation because food is a basic human need. With food we have energy and can think critically, giving birth to creative ideas and innovation. So it is very appropriate to overcome finances during inflation by reducing spending on basic needs. During inflation, consumption continues as usual, then inflation will pass. If we hold onto money and don't consume, the economy will slow down. Don't be too frugal and don't be too wasteful, consume as usual.

Inflation is indeed difficult to overcome because of course when inflation occurs the prices of basic necessities and other goods rise, even though salaries also increase, this cannot overcome the problem of inflation. We must learn from this pandemic. When a crisis occurs, new opportunities open up. So let's be smart and look for opportunities to earn extra income. Because if we are good at reading situations and quick to take opportunities, we can profit when inflation comes. Perhaps one example of fighting inflation is to start investing in bitcoin and gold.