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.

    • bluGill@fedia.io
      6·
      2 days ago

      Generally tha airport is the worst place, but it is easy and probably not too bad. Banks vary from good to bad as far as how good thay are-

      physical cash is generally a bad idea. offshore your investments to a different country: buy stocks, bonds, and real estate elsewhere. Though beware of taxes that can be bad. Swiss banks used to be the place for this as they wouldn’t tell your country what you had and thus your country cannot punish you for it.