SAVING-INVEST

Inflation has taught me quite a lot. Especially the aspect of taking hold of opportunities. If I have the resources to get a particular item now I no longer hesitate, because that thing could be three times the price the next day. The only time it doesn't really bother me is when I do not really have the means or resources to get it. At that point I know I did not get it because I couldn't afford it and won't feel bad when the price increases. The prices of things are going so high that it would take a miracle for things to come to normal and thus a lot of people have given up hope on anything reducing in price. We are mostly looking for means to earn more in order to meet up with the current price.

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One major backlash about this inflation is that it makes saving useless. Imagine saving for a car only to go purchase it and you discover it's way past the value. This is why I started buying mutual funds and saving with a piggy vest. This mood of saving offers a compilation of interest. Unlike the conventional savings method where you only have what you saved at the end of the month, this method gives me interest as much as 26%. Perhaps the price of goods may increase by more than 26%, that is the reason if I have to save for something in particular, I save with inflation in mind and thus increase the amount by another 50%.

If I compile the extra 26% interest I get from saving, I am looking at almost 100% of the initial amount. If at the end of the day I go for that purchase, I might be lucky to see it at the same price or be unlucky but still manage to get it at the inflated price. I have also learned the act of making deposits even when I do not have all the money and paying installmentally. This way even if things get inflated I can still get it at the initial amount because I have made a deposit and have a written agreement with the trader. Although this is not advisable all the time, but in getting things like gadgets, I usually use this method.

THIS IS MY RESPONSE TO SCIFI CONTEST @scifimultiverse/scfi-multiverse-prompt-week-63-edition-1-or-your-ways-to-handle-inflation-or" target="_blank" rel="noopener noreferrer">PROMPT FOR WEEK 63 EDITION 1