Quote from: Yucky on October 25, 2024, 02:04:05 PM

Quote from: Baki202 on August 20, 2024, 10:02:31 PM

Hyper inflation is everywhere and the people that cause this is the government and it is actually true, and people are getting tired of the whole rubbish, because currently in some Africa countries petrol have become very expensive and it is actually impacting the price of everything. And money have lost its value and even keeping it inside the bank, because their won't be interest, so it is better to invest the money than keep it, so that when ever the money is increasing you are already finding a way to beat inflation, having 100k now is as if you don't have money hear because one our currency have lost its value and that situation have gotten everything worst, so think on a better way to use your money to reduce inflation and devaluation of our currency, make use of it wisely, so you don't get affected.

When you keep your money inside a bank, the bank people even help you to reduce it. You wake up and see debit alerts for card maintenance or something like stamp duty charges - just weird reasons to cut your money. Recently, some banks even have issues that prevent you from accessing your money, yet it's still deduct for certain maintenance or fixes.

Indeed, investment is the way forward, no matter how little. Although some investments don't yield much, especially if you're a starter using online fintech saving apps like Piggvest, it may not be that rewarding. Plus, some people are just scared of anything related to online savings.

Investment is a good option; look up things you can invest in, whether it's Bitcoin or stocks using the Rise app or something to increase the value of your money. Saving it away is not helpful now. You plan to use it in the future, but by the time you get to that time, you can't even afford half of the things you planned to use it for because inflation is increasing every day. The price of goods this week is higher next week.

So that money you kept last week won't be enough to buy it again, and it's really crazy and painful. Dropping investment suggestions that you use here can help others learn. What do you use for investing?

I will add my opinion, if we are talking about online investing, then many methods that the Internet offers, they are either with a very small percentage of income, but very high trust. At the same time, if we are talking about high incomes, online, then they already come with a high level of risk of losing money. An interesting example: when I offered investment options online, my friend said, why should I invest money there, if I can invest money in an offline business and turn them over and get up to 50% of the investment amount in a couple of months. Therefore, when they talk about investing now, I understand it more as freezing funds for a long time, with a minimum-average income.

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