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064 | Inflation Nation | How To Better Manage Money During An Inflationary Time

Show Summary:

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.

Intro:

We start the show by celebrating G-Tober.  Happy G-Tober everyone!  

Main Discussion:

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.

Action Items:

  • 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.

Key Topics:

  • Inflation
  • Purchasing power
  • Money supply
  • Supply & demand
  • Scarcity
  • Hoarding
  • Opportunity cost
  • Supply chain
  • Interest rates
  • Cost of goods

Resources Mentioned In This Episode:

None

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