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Not an expert at all, but I'd say investing it, not spending it.
You want to have your money on things that will "reflect" that inflation in their prices. In my country, it is usually a good idea to invest on real estate, but I don't know about your country.
This is NOT a financial advise, I'm just a random guy in an internet forum.
Turkey has seen double digit inflation rates, can any investment that is available to an average person keep up with that?
If capital wasn't an issue you're probably right about real estate, but I do not have enough income or savings to invest in real estate. If I did I wouldn't be worried about being able to afford big purchases like a car.
There are funds indexed on inflation, and national bonds tend to follow the inflation, but if you go into double digits there’s nothing safe or easy. You can also invest abroad or in a different currency playing on the exchange rate.
However, if you need to ask here, you’d better stick to something simpler.
Which gets to the rest of my question. Obviously people who don't have wealth will not be able to cope with high inflation and suffer as a consequence. So what should be done to prepare?
Without wealth or the possibility to enter into a business that can better deal with inflation, I don’t see many options.
Small investments may be done with as little as €100, but you can do much with small amounts even if you nail something amazing.
You may move abroad maybe.
Hmmm, If I were you, I would try to find an index that historically has been profitable over time and that fits you well.
For example, S&P500 has around 6% inflation-adjusted profitability (if I recall it correctly). Of course, that doesn't mean that S&P500 has had that profitability in any span of time, it's just an average. That index is american, you can invest in some that belongs to your country or any other country you feel comfortable with.
Of course, there is always a risk in any investment you do.
And I repeat, this is NOT a financial advice, I'm just a random person from internet, just answering based of my personal experience.