Inflation is destroying people's lives and many still fail to realize what it is and what they can do to fight against it...Here's a quick post with some insights and tips to help you.
(extract from: http://donwalkeronline.com/the-truth-about-inflation-what-can-you-do/
in courtesy of: https://www.facebook.com/workwithdonwalker)
Here's the extract article:
The term “Inflation” has been tossed around for as long as I can remember. Everywhere you read, watch and listen to the media, you discover more information that supports the impending rise of Inflation. According to Wikipedia, Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.
A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price index) over time.
Well, in a nutshell, the value of every dollar has lost purchasing power and continues to do so every day, week, month, year…and so on.
A solution that comes to mind is to simply “make more money.”…Simple right?…Not really…The truth is, the majority of people in society have careers and incomes that are stagnant and/or not financially rewarding leaving them to find more side jobs if they are even available.
The employment rate has also been very inconsistent. As the value of the dollar continues to decrease, they struggle to pay for everyday items that they need to buy or would like to.
In the video below, Jim Heafner of Heafner Financial Solutions, in Charlotte, North Carolina explains the threat of long-term Inflation specifically on Retirees or those that have limited income producing activities.
There is no mystery in what is truthfully going on here…Most people do not know how to invest properly in this current economy and are afraid to loose their nest egg. Many have even cut back on everything; leaving out many luxury items and conveniences…This means vacationing has decreased at an all-time low.
From downsizing to smaller homes, less cars, all the way to even moving in with family members, most of the country has done their part to conserve and survive.
The Truth About Inflation – Simple Actions To Fight Against Inflation 1. When you conduct your weekly shopping, look carefully at the packaging and sizing of the items you purchase. Compare the price of what you buy against the quantity of the actual product. Sometimes buying larger packages will greatly help you save in comparison to the price of the smaller ones.
(From my experience, shopping at wholesale stores such as Sam’s and Costco’s have been helpful…Just be sure that you actually use all that you purchase. Five pounds of the same cereal can get very old and stale and statistically, most people don’t completely consume what they purchase. This, of course is costly!)
2. Pay attention to competitive pricing…Everyone likes a good deal and most people “Price Shop”…A simple way to do this is to call around and provide documentation of each competitor’s pricing. In most cases, competitors will honor your price even it’s a rock bottom close-out price.
3. Begin to cut back on what you really need and don’t need…If you’re struggling to pay your monthly bills, be honest with yourself. Ask these questions, “Do I need this extra Smart Phone?…Can we make it with one car for a little while?…Maybe taking the bus, riding a bike, or walking more will fit your current lifestyle.
4. Seriously learn how to invest your money so that it is working for you instead of the latter; continuously trading time for dollars.
(I personally have had great results in following Dave Ramsey and am a graduate of Financial Peace University)
5. Do you think this is all too much?…Do you feel that these steps would have you meticulously driving around and calling everywhere to find the best deals?…
What if there was “One Place” you could shop, Save a lot of money, learn to Manage it, and even learn to Make it?
If you enjoyed this post, please share and comment below! Helping you Save, Manage, and Make Money,
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