Let's Discuss Economy

The Social Lounge
#1

Due to my high interest, I’ve always put a keen interest in economy and how it affects our life. In these turbulent situation, please share your opinion on whether we should save our money or invest in capital. Both sound risky, due to recession and instability in economic policies.

The central banks are unable to keep up with the inflation and having a hard time with maintaining interest rate. The tax rate is getting high up. Seems like every other entity out there is after our money.

I don’t know what kinda world we are heading to. Apperantly, all those NWO agendas don’t seem gibberish anymore. People are deliberately being pushed towards poverty and the small business ideas don’t appear to be sound anymore. My friends are losing huge amount of money in stocks and businesses. The situations don’t seem to be resolved pretty quickly.

Need your suggestions on how to manage our money properly and prepare ourselves for coming future.

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#2

Something very economic for the winter:

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#3

Yeah, Philip’s ideas are cool!

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#4

I bonds are a great investment right now

Their interest rate is projected to decline to 6.28%, which is still a great interest
rate, if you act soon, you can earn a minimum of 10.3% up to 11.5%,
but you must act before October 29, 2022.

I bonds are a type of savings bond issued by the United States government. Interest is paid on the principal and is compounded semiannually. The interest rate is adjusted every 6 months, on the 1st business day of May and November, based on the inflation rate for the 6-month period ending in March and September respectively. Both principal and interest are guaranteed by the United States government.

To buy I bonds, you must set up an account at TreasuryDirect.gov. The current official rate is 9.62%,
but it is projected to decline to about 6.28% for the period beginning November 2022 and ending on April 2023.

The issue date is the 1st day of the month of purchase, so you earn the full interest for that month, regardless of what day of that month the bond was purchased. The official rate for October 2022 is 9.62%. In a bond’s 1st 6-month period, the interest rate will be higher than the nominal rate if the bond is purchased after the 1st day of the month. The actual interest rate increases steadily the later the bond is purchased during the month, up to 11.5% if your purchase is completed by the last day of the month. After the 1st 6-month period, the interest rate will be the official rate.

To illustrate:

If you buy a bond by October 31st, then the issue date is October 1, and your 6-month period runs from October 1 to March 31.

So, you will earn 6 months of interest even though you have only held the bond for 5 months and 1 day. Thus, the 9.62% nominal rate yields an 11.5% actual rate.

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#5

BTW is it right to ask for advice from us who may not know your personal financial situation? It does more harm than good. A financial analyst would be a better bet. Cause if something goes wrong it shouldn’t be regretted by you for listening to us. Because money is something a precious commodity. Shouldn’t listen to strangers on the internet on what to do with your own. Just my two cents.
BTW what synchronicity! I have Business Economics exam tomorrow :upside_down_face:

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#6

I invested in some savings certificate with 6.25% interest rate but the return on tax has been increased lol. Also I’m supposed to get not much if I go for premature encashment.

Bonds seems like a good idea. What do you think of mutual funds, @zen?

#7

I’m more interested in knowing what the psychics of the forum think of upcoming future economy and how we should workaround it, not asking for micromanagement of finance honestly.

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#8

Oh like an general opinion you mean? I was scared you were going to invest on suggestions here :sweat_smile:

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#9

Haha no lol. But I appreciate your opinion

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#10

Make sure you have access to cash, because if the banks go down, your bank card will be useless. What is coming in the short term is not good.

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#11

Interestingly, my neighbor, who is from Bulgaria recounted how she fled to the US when the economy there collapsed (not sure which year that was in, she seems to be now in her early 60s) and only those who had been withdrawing cash periodically could survive and flee.

And I just realized, I have nothing more than 20 bucks in my wallet (note to myself to get some cash)…

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#12

Here, the most ATMs are out of cash frequently and people are bothered by it, obviously. Piling up money in banks seems like a terrible idea. I’d get some more cash on my hand, as @Maoshan_Wanderer will do.

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#13

I have been taking cash out for the last month, just in case, and making sure my van is topped up with diesel.

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#14

Beat the system and invest in financial protecter. :joy:

Am thinking of getting it, sounds like a better investment fund then most investment groups. Lol

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#15

Yeah, same here. This with capital governance and abundance mindset should be more than enough to not worry about money.

I’m more concerned about the economy where there’s lots of problems with no long term fix anymore. I think of my community and society too instead only of myself.

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#16

These kinds of stories are so amazing yet scary to hear… our elders have really seen a lot in life!
And I too don’t keep cash on me. Omg I hope the situation doesn’t become that bad. India will become so chaotic with the number of people here if anything collapses.

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#17

Is it that bad in the US? :astonished:

#19

Best time to go offgrid :palm_tree: :leaves: Just saving to start an offgrid commune.
Self sufficiency is more powerful than reliance on the system. Covid was prime example.

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#20
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#21

I don’t discuss Economy, I FEEL/LIVE Economy lol, it’s pretty bad ngl (initially I wanted to post this in memes thread - hope its not a problem).

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