• @[email protected]
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    221 month ago

    By brother in Satan, high inflation makes you spend money now. It’s either that or going to hell.

    Im saying that this bs is out of some relative comparison of how much generations are saving/investing. Everyone tried saving. But with low relative wages ofc ppl wont save as much as eg boomers - they didn’t give up vacations or buying whatevers, but still saved money. Younger gens are just left with no money after that.

    And also falling relative wages (inflation) makes you buy things asap to actually save money.

    • @[email protected]
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      101 month ago

      It’s literally cheaper to buy things I know we’ll need at some point (assuming we have the space to store the thing) using a rewards credit card that’ll give us 1-3% back than it is to save and buy those things later when they’re even more expensive. (Paying off the CC before it accrues interest, of course.)

      The only move that is ‘smarter’ is to be risky with our money and invest in some way. Which then either makes me a part of the corporate enrichment cycle or a member of the rentier class.

      • @[email protected]
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        21 month ago

        The only move that is ‘smarter’ is to be risky with our money and invest in some way. Which then either makes me a part of the corporate enrichment cycle or a member of the rentier class.

        Online savings accounts also exist.

        • @[email protected]
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          11 month ago

          A solid suggestion.
          I often discount those because I think of them in terms of cable TV pricing, that you have to hop around on to get the maximum benefit. It seems that there’s no trustworthy info to find online these days, so I don’t really know how they stack up, or even if my assumption about them is correct.

          Something to add to the vast hopper in my brain labeled “things to research if I ever find enough time.”

          • @[email protected]
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            21 month ago

            Ymmv but I’ve found Ally Bank to be good and the rates fluctuate with the baseline rates. I think you get over 4% interest right now. I’ve seen them go up and down just as the fed makes movements, unlike my ing direct account (which became capital one or something) where the rates only ever went down.

      • @[email protected]
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        21 month ago

        Investing isn’t that cheap, especially if you want to be moral about it (no shadow pools, company screening, etc). Coz you know, you are just fueling the same problem you are solving.

    • @freebee
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      51 month ago

      If you would have bought a basement full of canned food somewhere shortly before corona or shortly before the russians went full loco in ukraine, it would have been a top tier investment. And if it wouldn’t have been, they don’t go bad fast and you can still eat them :') In high inflation environment, buying stuff instead of stacking money can make sense indeed.

      • @[email protected]
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        121 month ago

        Why grind when production is way higher than needed.

        Just eat the rich.

        Historically it always led to an era of prosperity.