Personal Finance

Inflation: It’s Here And We Have To Deal With It

inflation

If you’ve been to the store lately, filled up your car with gasoline, or shopped around for certain household goods, you’ve seen the prices are much higher than before. It doesn’t matter if you live in the United States, Canada, the UK, or China. Prices are up because of inflation. In today’s article I want to provide a few tips on how to deal with the rising prices due to our weak money.

Tip #1 On How to Deal With Inflation: Change Your Standard Of Living

The best way, although the most difficult, to deal with inflation is to change your standard of living.

We living in Level 4 countries are truly blessed. We have access not only to cleaning running hot and cold water, steady electricity, and fast Internet, but we can go to the store whenever we like to buy whatever food we crave. Yet, when times become tough for us we do not like to reduce our standard of living.

I’m not saying people can’t go out to eat at restaurants or go see a movie or even treat themselves to a spa day. You can, but not as much as you used to. In these tough times one should really focus on the necessities of life. When it comes to having fun there are various inexpensive ways. I suggest researching how to do your favorite hobby or have fun in an inexpensive fashion.

Tip #2 On How to Deal With Inflation: Change Your Shopping Habits

Another way to deal with the rising prices at the store and at the pump is to change your shopping habits.

When it comes to driving more and more Americans are finding gas prices much higher than a few months ago. To combat this sticker shock one needs to evaluate their driving schedule and see where they can cut back. Consider running your errands in a single day instead of over several days to save on gas. I know there are some personal finance gurus who will recommend trading in a gas-guzzling car for one that gets better mileage but that can be difficult. However, this is one suggestion you can research to see if trading in your car works for you.

Finally, when it comes to groceries I wrote on my blog previously about how to eat meat cheaply. If you love beef I have an article specifically about how to afford those high prices. As for other foodstuffs, I always shop sales so I can save money. Do you best to eat fruits and veggies in season and grown locally (or within your country) because they don’t have to travel that far. Shorter shipping distance means lower delivery charges. Thus, lower price you have to pay. Lastly, always check the clearance section or items marked down in the aisles. This is a great way to combat inflation here.

Final Tip: Consider Investing In Assets

When money becomes weak due to inflation, investing in certain assets can be a good option.

Right now there are several people investing money in real estate, the stock market, and digital currencies. Now you have to do your research when it comes to this move because you can lose money. And if you go this route you have to be ready to stay in it for the long run.


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Naomi P Lane
7 days ago

You made some great points about lowering expenses, but I think that the introductory line “change your standard of living” is misleading because I initially thought it meant to go out and earn more. I think so many people are struggling to make ends meet right now and I’m afraid they might stop reading when they see this, not realizing that your post is offering ideas to cut expenses.