Inflation is Killing Me! What Do I Do?

Yes, it is a well know fact now a days that inflation is at an all-time high, upwards of 8.5%. Gas prices are high, groceries are high, eating out... The list goes on and if you pay any attention to what you spend you know the impact.

The real question is how does this really impact you and what can you do. Well you have a few options in front of you.

1) Cut your spending in other areas. Truly this is the main way to attack this, sure it stinks, any free spending you may have had just got cut, but the truth of the matter is you will probably be ok, but it will hurt for a little bit. Some places to consider include streaming services, cable TV, internet, music services or just about anything that you could probably due without. You can also look into some ways to cut back on what you eat by meal prepping or focusing on certain cheaper meal types to carry you through.

2) Increase your income. If you really don't want to cut back your expenses in other areas then you need to increase your income. This may require you to work more hours, take on other shifts, work a side hustle or look for a new job that pays more. These are all options, if you want to cut back.

Really these are your only two options, the challenge is that most people do not even really notice the effects of inflations because everything goes on the credit card and the debt just keeps racking up. If your credit cards seem to be increasing, then you might be noticing the effects of inflation without really paying attention to it. It is time to switch over to cash and pay attention to where your money is going.

I write this now because I have been on several company calls where people ask the question looking for "cost of living adjustments." In reality, the people at my company make more than enough money to survive beyond the average American. Yet, somehow people are looking for a free handout or raise. If you want a raise, the method is simple, just cut back on some of your expenses. Inflation is not going to continue this way forever, it will adjust. These things happen.

Regardless of your situation, get control of spending and that will help you to get control over inflation and prepare you for times like these.

Need more information, or more help, book some time for a consultation. I'd love to help you get your money under control.