think of your money like this

if income stays the same

yet expenses keep rising

inflation keeps soaring

what happens? no matter how much you earn, you get poorer

so what’s the way out?

Read on

in a normal economy, inflation is expected to occur at 11% rate

which means if you earn $1K [an analogy for example]

if inflation occurs, you lose your purchase power by $110

so your initial $1000 in the bank now has a purchase power of only $890

and this doesn’t include how your cost of living keeps rising everyday

but you shouldn’t have to live your fate in the hands of the government

here are 4 practical ways to battle this

(At least this works for me & should for you too)

read on

1. Invest in yourself

For real, the best investment that pays the most dividend is you

Learn more about money and how it works.

Stop leaving everything to the news and media

Focus on getting at least 30 minutes a day to read books on the subject or watch YouTube videos

2. Find some ways to increase how much you earn

With the leverage of the internet, this has become easier

Even if you operate a 9-5, you can package your knowledge and sell

Minimal costs and huge rewards

or sell some items at a high mock-up price by flipping products

3. Stop saving

I know this sounds out of what you’re used to

Stop putting your money in banks to sleep there all year

when iron isn’t used, it rusts

when water is stagnant it stinks

same happens to your money. Put it to work and reinvest the gains

4. Have at least 5 months of emergency funds secured

This seems counter to number 3 but it isn’t and here’s why

You want to put this in an account hedged against inflation that still gives you interest

There exists so many offshore accounts that are also tax-free

Anyhoo, I just felt like this would help someone avoid hefty money loss from inflation and increased cost of living

If you end up making more money, ensure you reduce your expenses and increase your income sources

Found value in this? Share with someone you care for