Quote from: Don Pedro Dinero on September 06, 2025, 03:03:26 PM

Quote from: Emjay24 on September 06, 2025, 01:13:58 PM

While you think about ways to cut down expenses, I think you should be giving concentration to ways to increase your income since the expenses keeps coming, I have decided to have a small business besides the one I am doing currently to boost my income. I grow some of the regular things we consume like vegetables, plantain and cassava myself but the economy is still hitting hard and it becomes very important to have a form of additional or passive income source.

That's what I was thinking. If you live in countries with very high inflation, saving money won't do you much good. In other words, it is better to try to increase income, beat inflation in other ways and be self-sufficient if you can. The closest case of inflation I know of is Argentina, where as soon as people got their hands on a peso, they rushed to spend it because they knew that tomorrow, or perhaps in a matter of hours, that same peso would only buy them half as much. Those who could saved in dollars or bought assets to beat inflation. Others turned to self-sufficiency and bartering. But saving in your fiat currency with very high inflation is useless.

I would say, instead of trying to beat inflation by getting more income, it could be smarter to get more spending. Because if there is inflation, your income should go up anyways, and that would mean that we are going to earn more but spend even more. And when you have debt in a high inflation country, that debt gets smaller and smaller every single day.

When you make 1000 X fiat, and spend 1200, but in 6 months you start to make 1500 X fiat, then your 1200 becomes less, and it keeps going like that. If you keep buying stuff that has resale value, then you could make a lot of money and that could allow you to have a great return. I am pretty sure that this will not be an issue, and we can make this work by being smart with our money.