How can I protect my savings during hyperinflation?

How can I protect my savings during hyperinflation?

To protect your savings during hyperinflation, consider diversifying your investments, holding assets like gold, or investing in inflation-protected securities.

What types of assets are best to invest in?

Real estate, commodities, and cryptocurrencies can be good options. They often retain value better than cash during inflation.

Should I keep cash in the bank?

It's generally not advisable to keep large amounts of cash in the bank during hyperinflation, as its value can erode quickly.

What about debt? Should I pay it off?

Paying off debt can be beneficial, especially if it's high-interest. However, consider the type of debt and your overall financial situation.

Are there any specific strategies for budgeting during hyperinflation?

Yes, focus on essential expenses, reduce discretionary spending, and regularly adjust your budget to reflect rising prices.