Inflation is making you broke again? Here's how I'm hedging against inflation.
The world economy is changing. Any sane person will understand that we will be going to face worse inflation in the coming days. Or simply saying would be much more difficult in the future. We will be able to buy less than before.
I also wrote another post a few days ago about how the local/domestic currencies are losing their value day by day. So we who live in other currencies than USD will be in much more danger because of inflation. Therefore, it is important to find the right strategies and investments to hedge against inflation.
From my personal experience, there are a few things we can take a look at before setting any plan to deal with inflation.
Keep an eye on anti-inflation assets including gold, real estate, etc.
Crypto is a far better option for investment, think about it.
Build a diversified portfolio so your asset can thrive when inflation hits.
Reevaluate your expenditure and overall money habit.
I know all these sounds very bookish. People usually skip reading these words. So I will share what exactly I'm doing.
I invested a little amount of money in gold and I'm trying to increase it. In my country, it's quite uncommon to save gold, also it's risky in terms of security and maintenance costs. But it can be done in a traditional way like keeping it as ornaments.
I'm more invested in crypto. Recently I have managed to invest in a few projects. I'm still buying many coins, building my profile, and all. Hopefully, it will pay back.
I have invested a few in real estate too. In my country, it's also not a common practice but I have done this with a friend group. Probably it will give me a good return in a few years too.
Lastly, I keep down all my luxury expenditures. You may not gonna believe it but I didn't buy any branded clothes and shoes for more than a year, keeping it simple. Because I have to run a family and provide for my kids. So it's tough if we still expend money on those things rather than what will give us a good return. It may sound 'poor' but this is the reality.
I'm in the borderline middle class, you can say. It's very important for me to see what's coming and prepare myself accordingly. It's a struggle, sure. But it's also a lifesaver.
Thanks for visiting my blog.
