Oct. 11, 2021
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.
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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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