Can savings be obtainable in a period of inflation

[Carpon]

Inflation in simple terms refer to the relative increase in the price of goods, services and commodities at a certain period of time and location.
This in turn will lead to an increase in the standard of living.

The effect that this condition will have on savings is that:
You may need to reduce the level of savings or completely quit saving because the needs you need to attend to are now costlier and will eat up large amounts from your savings.

So does this mean that savings cannot be possible in an inflation situation?

Well, this may depend entirely on the level of the inflation and your ability to adjust properly to the new economic situation. You may decide to reduce the amount you save or lower your expenses.
Cut off some expenses that are not very relevant and channel the funds to your savings account.

What is your opinion on a whether savings can be possible during periods of inflation?

 

[HeavLeighGill]

I think it depends. Those that were already living paycheck to paycheck are struggling even more, while those that were doing ok for themselves are now living paycheck to paycheck. Debt takes a role on top of that too. My husband and I make decent money, probably enough to be considered middle class. However, we have over 3k in bills each month counting our mortgage, two car payments, and so on. Before, we had enough money to pay all of our bills and to do some fun things or buy extras every week. Since inflation, it's really cut into a lot of that money and some weeks we have to let certain bills get behind to catch up, without anything left over. It's definitely difficult. Now, someone with more money, say a doctor, should still make enough to save, so long as they aren't drowning in bills.