Experts offer ways to fight inflation
InvestigateTV - Consumer prices are showing no sign of slowing down as the U.S. Labor Department reports the inflation rate hit 7.5-percent in January.
However, there are a few things you can do to protect yourself from inflation. Our partners at the financial website Nerdwallet put this list together.
- First, examine your spending now. Trim entertainment or travel budgets by about five percent and it will help you with the rising costs we face just about everywhere.
- Don’t delay a major purchase something you really need because prices will likely rise.
- Also, shop strategically. Buy generic brands and prescriptions, use coupons or cashback apps, and store loyalty programs.
- Use memberships that help you save on gas. I use the app, getupside, to save money every time I fill up.
- Also, look for little savings. Eliminate any fees you pay for credit cards or bank accounts. Renegotiate your cable, cell phone, or streaming bills.
- Reduce your subscriptions. Make sure you’ve canceled anything you’ve stopped using or caring about.
The experts at Nerdwallet said to try to bring in more money. Look for financial institutions that pay higher interest rates, so you earn more on savings. Online banks and credit unions might be the answer there.
Also, don’t be afraid to ask for a raise. You don’t know the answer until you try.
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