[arriplify]

The cost of inflation means any savings that I have (and anyone else has) is being depleted over time while it's left untouched. Is there a Halal way to offset this cost?

[w3QHxwNb]

Reduce your expenses.

Moderation is half economy.

The main problem is that we always think about Increasing our income, but We never ever think about reducing our expenses.

[pkxlugbsbv]

Reduce your expenses.

Moderation is half economy.

The main problem is that we always think about Increasing our income, but We never ever think about reducing our expenses.

Hmmm, certainly food for thought.

[HornyMolly]

Hmmm, certainly food for thought.

reduce that ^^ food expense as well..

[Bill-Watson]

put all your savings in gold, or if you can find a nice physical investment its even better.....Maulana Taliban's advice is much better though....

[Knillagrarp]

Generally, savings are not encouraged. It is the cause of a lot of spiritual as well as material sicknesses and in the next life may be a source of regret. The concept of 'saving for a rainy day' does little to help a persons Emaan. If you look at the life of our Beloved SAW and the lives of his Sahabah RA you will find more beneficial activities for your your money. That is not to say that you should give your last penny in charity as this could also deplete Emaan but it is important to understand the Islamic purpose of wealth.

[pkxlugbsbv]

reduce that ^^ food expense as well..

[w3QHxwNb]

put all your savings in gold, or if you can find a nice physical investment its even better.....Maulana Taliban's advice is much better though....

It's not about puting it in gold, silver, diamonds or copper.

When the expenses are alot, eventually the gold will disappear too.

Lets get a little practical:

Make a list of all your expenses here. Then we'll see what to cut

[Bill-Watson]

It's not about puting it in gold, silver, diamonds or copper.

When the expenses are alot, eventually the gold will disappear too.

....no he is talking about savings, the high rate of inflation means that if he has say 10000Rs worth of savings which can buy a 500 loaves of bread at the moment then by the end of the year he will be able to buy like 400 loaves of bread with the same money...putting that in gold will make sure that he can buy the same amount of bread at the end of the year as the rate of increase in gold prices is somewhat equal to the rate of inflation....whether he should cut down on expenses is another topic and not related to the original question or so it seems....he might be spending less if he is saving something already...Allah knows best

[w3QHxwNb]

Hazrat,

For example:

He earns 10,000 rs right now and his expenses are also 10,000. He's living hand to mouth without any savings. Due to inflation his expenses become 11,000 but he still earns 10,000.

What will he do now? He has two options,

1) Bring his expenses under 10k
2) Use his savings.

First one is easy, second is scary.

Let us suppose he bought gold. The gold was worth 20,000. His income 10,000. Due to inflation, his expenses went to 20,000 per month. Gold became 40,000 in one year.

Again he has two choices:

1) Reduce his expenses
2) Use his gold

So although the gold became 40k but till when can he use it? It will finish in 4 months. Savings are not unlimited and hike in gold prices can't help you much if your expenses are alot!

That's the main worry, how to fight inflation.

[Paiblyelaxy]

Well, you are either on the side of cash, getting the negative effect of inflation, or you are on the side of things that become more expensive like commodities, real estate, gold etc.