Protect yourself from inflation? Three practical tips!

Dated: October 3 2022

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Inflation is a key economic indicator, measuring the change in prices of goods and services over time. Inflation affects everything we buy, from food to gas to housing. The most commonly cited measure of inflation is the Consumer Price Index (CPI), which tracks the price of a basket of goods and services that a typical consumer might buy.

The CPI has been slowly creeping up in recent years, reaching a six-year high in 2018. This has caused a lot of consternation among consumers, who are struggling to keep up with rising prices. Some economists have warned that inflation could reach dangerous levels in the coming years, potentially leading to another recession.

So what can you do to protect yourself from inflation? Here are a few tips:

1. Make sure you're staying ahead of the curve with your savings. Try to keep at least six months' worth of living expenses in savings, so you're not forced to make tough choices in case prices continue to rise.

2. Stay diversified with your investments. Don't put all your eggs in one basket, especially if that basket is tied to the stock market. Spread your money across different types of investments, including bonds and real estate, to help minimize your risk if the markets take a dive.

3. Live below your means. This may be difficult in today's economy, but it's important to remember that you don't need to keep up with the Joneses. If you can live within your means, you'll be less susceptible to inflationary pressures.

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Since he was 16 years old when his father explained to him how real estate worked with mortgages and leverage, Ed was hooked! Real Estate owners 40X more net-worth! His energy, enthusiasm, and tenacit....

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