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I’m really glad we’re discussing this because I just read this morning
Among the world’s major economies, the
International Monetary Fund predicts that
only Russia, battered by global sanctions, will
perform worse than the UK next year. The
Bank of England forecasts UK inflation will
peak north of 13%, the highest since the early
1980s, and Goldman Sachs said it could top
22%, closer to the 1975 postwar record. Both
see the economy tipping into recession in the
coming months. On Monday, the British
pound fell to the lowest level against the
American dollar, $1.1443, since 1985
Yikes
Unless one invests their cash or exchanges it for a potentially better currency during this term, one loses a lot of money
Obviously the challenge though is, with gas prices having tripled in the UK, people might not even be able to afford to rescue their cash
Where would be the best place to invest?
In terms of returns and risks involved? Particularly low risk opportunities.
With each opportunity it would be great to understand if there are any grey areas in terms of their legitimacy.
A simple and safe example of an investment one could make, and one that’s often forgotten is in food.
What I mean is, any expenses you have that are
E.g., long lasting foods like rice, pasta, tuna, canned foods etc.
So say you buy a 6 cans of chopped tomatoes on average a month (for those curries!), you could just invest in bulk purchasing a years supply now given that prices are almost guaranteed to increase with inflation and cost of living crisis.
It depends on how the stock market performs and what a person is going to be doing with their money. I’d recommend Wahed:
Long-term Savings: in a very aggressive portfolio.
Short-term Savings: in a moderately conservative portfolio.
Alternatively, if a person wanted to invest in cash you can that with Wahed too in their very conservative portfolio.
This doesn’t really protect your money though but helps you save money in the long run when you’re buying power decreases. I would suggest a bit of both.
Tbh, buying in bulk may not be the best right now given supply chain issues.
Perhaps a relatively low risk (but still high risk/high returns) option is investing in index funds.
Oh that’s true. I didn’t actually consider the macroeconomic impact of encouraging people to bulk buy right now. Whilst it might save money at the micro level, it actually causes more harm at a large scale.
It’s basically the lockdown toilet roll 
fiasco all over again 
Are there any index funds you’d recommend
Exactly and we’d just be furling inflation further
I personally I have not researched into specific funds and their permissiblity. For funds I just stick with my Wahed account.
You shall be named the Muffin Man 
, I imagine you bulk buying them
Maintaining healthy spending habits will help with the recession, which in turn will hopefully reduce inflation. Then we invest our free cash to keep it safe. I’ve heard from Wahed employees that they are developing a bank account, where your money is stored in physical gold. That way you can invest your savings, but also protect your free cash.
So what you guys are saying so far is that it just doesn’t make sense to keep your money in the bank? Due to inflation, my money is definitely going to decrease in value. Very interesting, I can’t believe I only found out about this now.
I am super looking forward to the wahed bank! I will be the first one to sign up. @ReeceByfield is there a way to have an early or pre-order for sign ups for the bank?
Will the bank also be investing our money too or do we have to put that into a wahed portfolio?
How will wahed do with international spendings, e.g if I went to spain, I could use my monzo or revolut and have the best rates and use it internationally, will wahed do the same?
Please let me know!
very interesting, how would we go about investing in these? I have been told recently to invest in oil companies, do you know anything about that ?