How To Save Your Money From Inflation

  •  
  • 276
  • 0
  • 2
  • English 
Aug 26, 2016 12:50 personal-development diary English tutorials money
Aug 22-25.

When it comes to money, almost everyone has some savings. Whether it is money in a bank account or at home, "under the mattress", everybody wants to reserve some fortune. As you already know, it is not that easy. Our most terrible enemy here is inflation. Over last 10 years, Ukrainian currency (hryvnia ₴) exchange rates when down from 5 hryvnias to 25 hryvnias for 1 US dollar. Can you imagine that? To make it easier, let's say your salary went down from $1000 to $200. Obviously, our currency isn't the best option to save money.

This problem concerns not only Ukraine. EURO, British Pounds, Russian Ruble - they all have a tendency to inflate.

So, how to save them? I dug over the internet to find possible solutions:

Gold

It is the grand-grandfather of all money. Safe and precious at all times. Although sometimes it is difficult to find merchants, be sure your savings will be safe.

Bitcoins

Many consider bitcoins as a good option to save money. However, I wouldn't recommend it. According to the official website,
"The price of a bitcoin can unpredictably increase or decrease over a short period {...} Consequently, keeping your savings with Bitcoin is not recommended at this point."

Real Estate

Protects you from inflation - yes. Saves your money - yes.
However, it takes a lot of your time to buy or sell real estate. Moreover, it can be an option only at very high numbers.

US dollars

US dollars proved to be one of the most resilient currencies. They are much easier to buy in comparison to gold and more stable than bitcoins.

Yourself

Of course, the best option out there is to invest in yourself. However, this doesn't mean to foolishly spend all your money on clothing and other stuff. Be wise, invest in books, training courses, business. Have no doubt, that will pay off in the long run.