Title. If I believed my country was about to experience large increases in inflation, similar to Turkey how can I best position myself for the future and what should I take care of now, before it happens?
Would it make sense to only make minimum payments against debt? Should I spend money instead of saving it? If I don’t need to make a large purchase now but will in the future, should I go ahead and do it?
edit: I’m talking about 30%-80%+ inflation folks, not the kind of inflation most developed countries have exprienced in recent memory. If someone had enough money to invest in things which could survive that then they wouldn’t have to worry about debt payments and making big purchases. I am asking for practical advice for the average person, not a way to invest.
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Not an expert at all, but I’d say investing it, not spending it.
You want to have your money on things that will “reflect” that inflation in their prices. In my country, it is usually a good idea to invest on real estate, but I don’t know about your country.
This is NOT a financial advise, I’m just a random guy in an internet forum.
Turkey has seen double digit inflation rates, can any investment that is available to an average person keep up with that?
If capital wasn’t an issue you’re probably right about real estate, but I do not have enough income or savings to invest in real estate. If I did I wouldn’t be worried about being able to afford big purchases like a car.
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