How to survive inflation debt free

[Carpon]

A time if inflation is one in which people earn and are not able to take care of their basic need with the money that they earn because of the fact that goods and commodities cost more and therefore you need more in order to keep up with your needs as usual. Here are some tips that I have which can help anyone who is in a society that is experiencing inflation or relocated to a place where the price of goods is higher and inflated compared to where he or she was before.

✓ First and foremost something that is very important is the act of financial planning which comprises of budgeting and other sorts of financial habits that are injurious to one's financial well being and security. This is one of the first step towards staying out of financial trouble amidst inflation.

✓ Another thing that can help one avoid getting into debt during inflation is to get many sources of income. You will need to earn more so that you can have more to cater for your needs that are the same but not having the same price and amount to take care of them.

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[Jasmine]

There are several ways to survive inflation. First and foremost is to invest in assets that will increase in value once inflation ends or controlled, for example, stocks, real estate, commodities, etc. If you have cash, you need to put in saving accounts that pay higher interest rates, such as fixed deposit accounts, bonds, treasury bills, etc. High levels of debt can be difficult to repay during inflation, therefore, work hard to reduce debt. You will also have to increase income through education, training, etc. You can also finding a higher paying job. Cut your expenses and try to live frugally.