Title. If I believed my country was about to experience large increases in inflation, similar to Turkey how can I best position myself for the future and what should I take care of now, before it happens?
Would it make sense to only make minimum payments against debt? Should I spend money instead of saving it? If I don’t need to make a large purchase now but will in the future, should I go ahead and do it?
edit: I’m talking about 30%-80%+ inflation folks, not the kind of inflation most developed countries have exprienced in recent memory. If someone had enough money to invest in things which could survive that then they wouldn’t have to worry about debt payments and making big purchases. I am asking for practical advice for the average person, not a way to invest.
Make debts as long as they have a fixed interest rate. Invest in something linked to inflation.
Ideally, have a primary source of income that lets you follow the inflation (eg own a shop where you can increase prices).