Why Is Inflation So High? The Best Steps To Survive
If there’s anything we’ve learned due to inflation, it’s to be resilient and flexible in adapting to changing financial conditions.
The effects of inflation are far-reaching, affecting your finances and quality of life. To help you navigate the changing economic landscape, here are some tips on how to survive high inflation:
Work to increase your emergency fund to cover at least six months of expenditure so that you can maintain your standard of living and pay for unexpected costs.
Build an Emergency Fund
The best way to protect yourself from inflation is to save more; it means setting aside a percentage of your income for some return on investment.
Consider lowering your overhead by cutting back on things like eating out at restaurants, subscription services, gym memberships, etc.
Re-evaluate Spending Habits
If you’re struggling to make ends meet, consider taking on a part-time gig or freelance job. This gig could be anything from working as a tutor or dog walker to driving for ride-sharing services.
Look For Additional Sources of Income
Use apps and credit cards, get deals on coupon sites, take advantage of seasonal sales, and buy bulk to help reduce costs as much as possible.
Become a Bargain Hunter
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