How do you do to survive in this high inflation and stagnant economy? My quick though is living economically, spending less, and saving more. Lately, I stay home, work by internet, phone and fax, shop at fresh market rather than supermarket, chat with friends via MSN instead of going to meet them, and eat at home more often. However, in this high inflation circumstance, I believe these do not make you survive in long term because your money in your saving account will keep devaluing, therefore, I have been told to do many things, as follows,
a) Find ways to increase incomes - I have tried to sell anything that I do not use and can sell.
b) Hold incurring huge expenses – I have postponed buy a new car, an expensive mobile phone, and high-cost trip.
c) Invest in high-yield instruments – I choose to invest in property funds and some good performance stocks which provide return more than inflation.
d) Consider other forms of investments that does not affect by inflation such as gold – I haven’t studied it, I may be too complicated to me.
e) Cut down spending – I have already done some.
I have no idea when the situation will be recover, but hope that it will not be worse.
