What ways do you use for fighting inflation? \ stacker news ~bitcoin

What ways do you use for fighting inflation?

1594 sats \ 14 comments \ @teodor 27 Jul 2023 bitcoin

I fight inflation through:

Acquiring some physical gold.
Holding few bitcoins.
Acquiring some DeFi real estate tokens with my keys, to be in control.
Still hedging inflation by trading on forex market with a very efficient trading robot. Most robots are useless, but there are few of them in the world now that function very well helping traders to get real profits.

How about you?!

110 sats \ 2 replies \ @kr 27 Jul 2023

i buy some food items in bulk from local farmers i’ve built relationships with.

makes a difference for saving time and money, but one thing i didn’t appreciate until i started was that fresh food actually makes me enjoy food (and cooking it) more.

win-win situation so far, working on sourcing more of my food purchases directly via local farms.

0 sats \ 1 reply \ @john_doe 27 Jul 2023

You can save a tremendous amount of money this way, isn't it.

0 sats \ 0 replies \ @teodor OP 27 Jul 2023

Yes, you do!

195 sats \ 2 replies \ @mallardshead 27 Jul 2023

Dropped the car, which eliminated the insurance, gas, repairs, and tickets, all of which are individual bills themselves impacted by inflation. I bought an electric bike instead. Frankly I've never felt more free or less stressed in my life. And the second thing I've embraced is piracy: I ended my Netflix and HBO subscriptions, and instead use 123movie.pw to get all that free. I ended my Apple music streaming and use 🏴‍☠️

All this has more than made up for inflation, and allowed more bitcoin stacking, and more money to pay down the house.

10 sats \ 1 reply \ @cointastical 28 Jul 2023 freebie

Legendary!!

For real.

I went the other direction... Started a fiat job that had a long commute so biking to where I earn was no longer an an option. I had forgotten how expensive owning and operating a vehicle really was, but to be fair

0 sats \ 0 replies \ @cointastical 28 Jul 2023 freebie

Oops, missed the edit window. ...

I was saying but to be fair, once we have snow, the value of having that vehicle is way more than double or more the cost, for those months.

143 sats \ 0 replies \ @Undisciplined 27 Jul 2023

I'm taking the rising prices as an opportunity to cut back on unnecessary and unhealthy habits. Cutting out snacks and eating out has allowed me to be healthier and kept our food budget stable.

Similarly, learning some skills so that you don't have to hire as many people for repair work and other services, reduces costs and is a great long-term investment.

25 sats \ 0 replies \ @john_doe 27 Jul 2023

Holding new bitcoins.
Investing in my education because it is by being better that I will get more money and do interesting stuff to keep making money.
I avoid wasting my money on stuff impacted by inflation in the bad way (I avoid fragile electronics, fake food, etc) to use it efficiently (I buy what I need, no extra brittle stuff).
I say no to climate propaganda so I can enjoy cheap oil for my cheap bike.

147 sats \ 0 replies \ @03aaad5e53 27 Jul 2023 freebie

Avoid to envy false needs that are injected to your brain by advertisers. Be thankful regarding what you already have !

10 sats \ 1 reply \ @Storyteller 27 Jul 2023

I think the best way for me to cope with inflation is wealth. Gaining wealth. Having an abundant and entrepreneurs mindset.

I don’t worry about inflation. Inflation is just a price calculated by a Central Bureau of Statistics. The number doesn’t reflect my inflation. I don’t want to buy a basket of simple items. I want to buy assets, a great lifestyle, vacations, a healthy lifestyle and experiences. Not simply stuff.

That lifestyle and the experiences I want to buy increases in price like 25-30% a year. Therefore I need to build wealth.

So regarding inflation I try to teach myself into a mindset of:

Buying assets instead of liabilities and luxury comsumer goods.

Educating myself and gaining more financial literacy

Reading books and investing in myself

Building a business to keep stacking dollars at a higher rate than inflation and convert part to bitcoin

Building macro economic simulation models to understand global macro economics and economies of the major countries in the world

Investing in knowledge about the fundamental value and valuation of public traded companies

Finding ways to invest and export to the BRICS

Investing in physical real estate

Investing in some specific stocks

Not buying the porsche 911 but keeping it a dream

Avoiding contact with negative people

Staying away from social media

Not buying stuff turning all unnessesary stuff into fiat and then into sats.

0 sats \ 0 replies \ @teodor OP 28 Jul 2023

Do you know that inflation affects also wealthy people. Of course, they don't feel it so hard, but they lose millions of fiat currency that is kept in banks. That's nonsense, why not using that money in a better way!? But most of them just don't care... 🤔 🙈

0 sats \ 0 replies \ @criptopanas 28 Jul 2023

I put my money to work for me....If your money is not working for you, is working for someone else.

Most of my saving are in BTC, the small % in FIAT is into stocks and bank accounts where I get some interest.