In today’s show, we talk about the current state of inflation and what we can all do to better manage our money during this time.
We start the show by celebrating G-Tober. Happy G-Tober everyone!
We have all been dealing with inflation over the past year. We have a thorough discussion about what inflation is, the good and bad of inflation, and what we can do to better manage our money during an inflationary period.
- Adjust your budget.
- Consider holding less in a cash based emergency fund.
- Delay big purchases.
- Ask for a raise or get a new higher-paying job.
- Invest vs. save.
- Re-finance adjustable rate loans to fixed rate loans.
- Borrow and do not repay aggressively.
- Decrease energy usage.
- Buy goods that will last even if more expensive.
- Prepare for shortages.
- Purchasing power
- Money supply
- Supply & demand
- Opportunity cost
- Supply chain
- Interest rates
- Cost of goods
Resources Mentioned In This Episode: