Recommendations to deal with hyperinflation in Venezuela
With galloping inflation, factors such as the decline in oil prices, spending policy and fiscal deficit, as well as exchange control, force ordinary citizens to rethink their financial strategies and face the onslaught of the crisis. This in order to cope with the situation and not die in the attempt because of the economic meltdown that accelerates by leaps and bounds and worsens the lifestyle of the Venezuelan.
In this sense, and with the intention of offering some recommendations, we have created this post so that they can help sustain the family economy and alleviate the general increase in prices.
With regard to the scenario that is foreseen for the next few months, it is recommended that money must be rationalized in order to prepare for a much stronger and longer crisis, something that is already known, but that is why the way to manage personal economy must be changed. drastically
Strategies for protection and reaction to hyperinflation are usually familiar and only work when all family members understand the problem and participate in the discussion on how to deal with it in the best possible way, understanding that it will bring greater sacrifices.
It does not make any sense to keep bolivars in your account or in your hands. It must be exchanged immediately for goods or hard currency, which is practically any other than yours.
The idea is not to generate a superfluous expense, but to advance essential purchases or to exchange money, ephemeral, for assets that will serve in the future as a reserve of value: monetary assets such as currencies or tradable goods.
Do not sell fixed assets, such as apartments, land, premises, cars. "If you do not have an option and you need to sell assets to live, try to sell first those that represent maintenance costs and not income by activity or rent.
It is wrong to provide a service or sell an asset and allow long-term payment unless the operation is valued in hard currency.
