Yakub02
Banned
Savings during inflationary period is something that we need to be careful about. Reason is that the value of money is reducing almost on a daily basis. As the value of money is reducing drastically in my country anybody that is still keeping money without quickly use it for the right intended purpose is just doing him or her self.
The Global inflation trend is so alarming to the extent that the prices of goods and services cannot even come back to its normal price again.
Savings may not make sense in this period. what can be advisable to be doing is investment and acquisition of machines and asset that can be an income generating tool for us individually.
Even if it is just to be buying the food items as you have written , it is far better than keeping the cash which will watered away by this terrible inflation .
I would advice that those family that are having the opportunity to go into peasant farming to be able to take care of the family immediate family food provision. That will be highly preferable to engaging in savings that will be cost effective.
The Global inflation trend is so alarming to the extent that the prices of goods and services cannot even come back to its normal price again.
Savings may not make sense in this period. what can be advisable to be doing is investment and acquisition of machines and asset that can be an income generating tool for us individually.
Even if it is just to be buying the food items as you have written , it is far better than keeping the cash which will watered away by this terrible inflation .
I would advice that those family that are having the opportunity to go into peasant farming to be able to take care of the family immediate family food provision. That will be highly preferable to engaging in savings that will be cost effective.
