Over the past year or so, soaring inflation has been an issue for most people in Europe and the U.S., where consumer prices have reached unprecedented levels (even Tesla and Elon Musk couldn’t escape it).
But it’s never too late to take some action to protect yourself and your savings from the raging inflation beast.
Take your first step and watch a video by Sorelle Amore, a famous Aussie YouTuber, full of practical tips on how to survive an inflationary time.
Here are some key takeaways:
- “This is inflation: when things gradually go up in price over time, and there are a lot of factors that could lead to this […] For us today, the reason for inflation that we are already seeing is because there has been so much more money printed in the last two years.”
- “Hyperinflation is much worse than inflation. Imagine if a currency becomes so devalued that instead of using a $10 note to buy something you actually have to use a $100 trillion note, and the $100 trillion note is only enough to buy you a chocolate bar.”
- “During hyperinflation in the 1920s in Germany, the German currency so devaluated that it would have taken 100 trillion marks to buy just one U.S. dollar. Because of this, people who owned gold and silver were more easily able to trade and get the things they needed than those who only had paper money.”
- “If you prefer to buy online, I’ve recently started using GOLD AVENUE, which allows you to buy precious metals and have them stored in Swiss vaults.”
- “Have the ability to grow your own food […] It’s honestly magic. I mean, humans were meant to be growing our own food anyway. And have you also ever seen a seed grow into a full plant? It’s going to blow your mind!.”
- “Get a better mortgage: it might be wise to talk to your bank and just find out what is a secure loan that will not be changed according to inflation.”
Want to know more? Watch the full video here:
Who is Sorelle Amore?
Sorelle Amore is a famous Aussie YouTuber, business woman and artist based out of Iceland.
She’s also a best selling author, ethical investor and financial educator, whose YouTube channel now has around 415K followers.
Sorelle, who calls herself a Digital Nomad, started her journey in 2016 as a travel blogger who traveled the world for 4 years, living only on savings she collected during her bartending days.