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.
The last only works if the loan is fixed rate - those are not always available so check terms closely. There is also the possibility that a lon could be called - you are rquired to pay it now, which drops back to the first: a new loan at the new rates.
finally beware that banks may have political power and so the laws may change and what you thought was a airtight terms is now against you.
Figure out what your risk tollerance is. I’m not sure how likely any of the above is.