Dealing With Inflation

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Inflation is continuing to be a massive topic of conversation, especially recently with increasing prices everywhere. From gas to groceries and everything in between, we are seeing prices rise about 8% everywhere, which can feel overwhelming. Luckily, there are many ways to combat the rising costs and continue to live a normal lifestyle. Keep reading for some helpful tips to deal with inflation. 

Read our new blog to discover the best ways to deal with inflation.

Rebudget/Budget Accordingly

When you initially budgeted for the year, chances are you did not account for how much inflation impacts us. It’s time to sit down and reevaluate those numbers. Right now, it’s safe to assume that prices will continue to rise, so it’s better to overestimate than underestimate. On the bright side, if inflation doesn’t reach the height you accounted for, you will have money set aside for other expenses. 
 

Talk To Your Employer

Inflation impacts everyone, and you shouldn’t feel ashamed or embarrassed to talk about it. Ask to meet with your boss or employer to discuss pay. While they might not be able to give you the raise you dreamed of, you can ask that they consider adjusting your rate based on the level of inflation. If that isn’t up for discussion, look for other ways they may assist you, such as helping pay for gas if you have a long commute or even allowing you to work remotely on certain days to save money. Your employer will want to help you, and hopefully, you can find a middle ground. 
 

Invest

If you don’t have money to spare, investing might not seem feasible; however, most financial advisors will tell you that investing is the best way to keep up with or even outpace inflation. Consider starting small and investing what you can spare. Remember, investing is a long-term game, and a diverse array of investments will allow you to glide through the changing tides. 

Don’t let inflation get you down; instead, fight back by rebudgeting, talking to your employer, and investing. Do you have any tips to help your neighbors get through these tough times? Share your thoughts in the comments below.

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