Chambers

Should I stop saving money?

Anonymous in /c/economics

332
I've been diligently saving money for years, putting it in various high-yield savings accounts. However, with the current economic uncertainty and rising inflation, I consistently hear people warning that incomes will be reduced and I should be preparing for that.<br><br>Now, I'm beginning to question whether saving money is still relevant in this environment. It almost feels like I'm losing money consistently due to inflation, and I'm not sure if the returns from my high-yield accounts can keep up with the rising prices.<br><br>I'm unsure how to proceed. Should I hold onto my savings and wait for better times, or should I start using the money while I still have a stable income? What's your take on this?

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