Inflation has a way of devaluing huge sums of money which would've otherwise been worth more due to the long term increase in prices.
This rise in prices heightens the unaffordability of goods and services reducing purchasing power. In essence spending more money actually gets you less than it did prior.
Think of the bullish effect and the fact that prices will never go back to where they left off though some don't make it through in certain instances, it shows us the power that investment and demand has on these outcomes.
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There's only up from here, the rainbow banner waved by cost of living making sure we don't miss it. Depending on location and currencies it's just a matter of how high. Immense pressure on resolving the basics like food, shelter, health, lodging soak up almost any incoming funds for many on the average end.
In investments if returns aren't higher than the rate of inflation then it's going to take a long time to keep up with things. A clear manifestation of this can be the heat on loaned-capital based enterprises in stock marketing. It's essentially hard for profitable returns not to become marginalized with regards to input.
Therefore, unless quality on product can be attained and maintained for consumer retension along with the effects of price increments, ability to counter the inflation effects is low.
On the other hand to save is to earn. Whatever sum gets piled up is dependent on what backs it up and escalation is seeked as the sole purpose when the need for investment is ruled out. So what happens when earnings aren't backing it up?.
Assets/properties hardly get into the frey as an option before savings either get halted or exhausted to cover expenses. 
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Given the hyperinflation rate of Venezuela reaching well over double-digits, part of the current effects can be traced back to 2016 when its fuel price submerged, most other products and services followed suit due to scarcity (some point to lack of proper governmence as a key factor). A surge in the printing of bulks of cash appears to be a very near term solution.
Why one country as an example out of many?.
As once the most prosperous South American nation to its warp speed economic decline, it remains a huge lessen for other nations that despite the resources, mismanagements and overdependence on resources can lead to an economic failure.
Rare opportunities may arise for some in terms of scaling as a well grounded unit or organization but individually, much depends on what we already have as our management skills and nuances get tested knowing that the future is unclear. 
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The difference with dealing with personal finances on your own terms and on the bases of inflation is that, despite the personalised sense of managing your finances, you know that effects are limited to you and that there's still a good chance of bouncing back as oppose to the addition of inflation where things are beyond your control and dealing with what you have is all you can dictate and that too not entirely because necessity sorting becomes a must.
