Is saving wise in this situation?

[Imran Noori]

As we know inflation rates are increasing and money is losing it's value.
Is saving wise in this situation? Or you should invest your money in something?

 

[Shavkat]

It depends on how they can survive due to this inflation issue. I hope that we could face this challenge confidently. Pandemic affects the people around the globe.

 

[Magnus2022]

It is very difficult to save money now because the inflation is biting very hard. According to World Bank, about one-third of world economy will enter into recession. That is pretty bad.

 

[gammarays]

One thing with savings is that it gives one bulk money with time. You may get a lesser value due to inflation but if you didn't save, you get nothing.

 

[puroypoi]

No matter how hard life is, I think one should still have to save some money and put some on other investment whether saving or non saving investment.

 

[ridsa]

Saving the only way or try to convert your money into gold, gold the only way to keep your money value from inflation.

 

[freelancermaria]

It can be difficult to foresee when you might require your emergency savings. However, you'll undoubtedly be happy to have it when you do need it. One of the most significant savings objectives to maintain is your emergency fund. It's preferable to try to save anything than nothing at all

 

[nomad]

Saving is a wise decision because when you save you can also start investing and build your portfolios.

 

[gammarays]

Saving the only way or try to convert your money into gold, gold the only way to keep your money value from inflation.

Buying gold is a low risk investment because it doesn't depreciate much in value. However it doesn't appreciate much on value too.

 

[Raja]

Saving should never stop and investment should be only after learning so stay careful when you invest.

 

[Reedex]

In this situation, you can save your money in dollars and there are several platforms where you can save your money in dollars. You could use perfectmoney or even use cryptocurrency exchange.

 

[Suba]

Imo, saving will remain good and wise under any circumstances, because saving is only a temporary stopover of money, so saving has a specific purpose and period of time, for example if you are going to buy 1 lot of stock for $ 5,000. then if you save $ 1,000 per month then you need 5 months, after your money is collected you can buy the stocks you want.

 

[Shortie]

Saving would be the better option to be honest as with what you save you could always invest into something which could, in turn, allow you to see a profit. I can understand why it would be so difficult for many though especially at such a difficult time as now. At times when normally you would have been able to put something into savings, no it may be what helps you get what you need. It's a difficult decision to make.

 

[SHAHID987]

Yes, saving is more wise in these situation when it seems to be impossible to save money because here it seems to be the question of survival and saving is something far from it so if we get chance we must save some money.

 

[uptrendfinancialsignal]

This is the right time to keep saving your money in usdt so that it will be shielded away from inflation.

 

[Springtime]

I put a portion of my income into a fixed deposit account. This is my emergency fund and for other purposes such as buying big items or have a leisure trip. I also invest some money in stocks, mutual funds and bonds to beat inflation.

 

[cherry123]

Savings is a good thing to do no matter how we want to look at it when you save money you are implying that you want a financially free future

 

[Starmix]

We can do simultaneously saving and investing. I am saving the profit of my milk tea business at the same time investing to my other business I have a new business selling brooms online hehe. I use Facebook.

 

[cherry123]

That's true two things are always involved when it comes to getting profit for ones hard earned money you should either invest it or save it. But whichever way just be careful

 

[Starmix]

It is so beneficial for us to save first then use the savings for a desired investment. It must be well planned and thoroughly thought about if potential or not.