How to survive inflation (Marketplace)

The cost of living is higher than itҳ been in 40 years. As prices go up, consumers are often paying more for less נsometimes without even realizing it. In this episode we follow reporter Travis Dhanraj as he investigates the sneaky ways in which inflation could be affecting consumers, and delve into the different types of ѦlationҠנfrom shrinkflation and tipflation to greedflation and others.

CORRECTION: At 11:04 the unit price calculation is incorrect. It should be 38 cents/100g instead of 0.38 cents/100g and 66 cents/100g instead of 0.66 cents/100g.

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LEARN ABOUT:Investing During Inflation

REVEALED:Best Investment During Inflation

HOW TO INVEST IN GOLD:Gold IRA Investing

HOW TO INVEST IN SILVER:Silver IRA Investing

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Inflation is the rate at which the general level of prices for goods and services is rising and consequently, the purchasing power of currency is decreasing. This situation can be challenging for individuals and families who are trying to make ends meet. However, with the right mindset and strategies, it is possible to survive inflation without draining your savings account or plunging into debts. Below are some tips to help you survive inflation in the marketplace.

1. Prioritize your expenses
During inflation, the cost of essential goods and services can skyrocket, making it difficult to maintain the same standard of living. Therefore, it is crucial to prioritize your expenses and focus on the necessities. Make a list of your essential needs such as food, housing, and transportation, and allocate your money accordingly. This way, you will avoid overspending on non-essential items.

2. Buy in bulk
If you have the storage space and the resources, buying in bulk can help you save money in the long run. Bulk purchases often come with discounts and can prevent you from spending more money when prices rise. For instance, you can buy food items such as rice, flour, and beans in bulk and store them for later use.

3. Look for alternatives
During inflation, some goods and services may become too expensive, making it difficult for you to afford them. In such cases, it is essential to look for alternatives that are affordable and offer similar benefits. For instance, if your favorite brand of toothpaste becomes more expensive, consider switching to a cheaper yet equally effective alternative.

4. Review your investments
Inflation can significantly affect your investments, especially if they are in fixed-income securities such as bonds. Therefore, it is crucial to review your investments regularly and consider diversifying your portfolio. Investing in assets such as real estate, stocks, and commodities can help you beat inflation and secure your financial future.

5. Earn more money
One way to cope with inflation is to earn more money. You can look for side hustles, part-time jobs, or start a small business that can provide you with additional income. However, make sure that your additional income does not lead to an increase in your expenses.

In conclusion, surviving inflation requires a conscious effort to prioritize your spending, look for alternatives, buy in bulk, diversify your investments, and earn more money. Following these tips will help you survive inflation and maintain your standard of living during tough economic times.

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