Inflation is out of control and the prices at the pumps are getting insane. Now is a time of high pressure and it’s hard to even put food on the table or turn on the heat.
Here are the top seven ideas for what to do during the inflation crisis and time of economic instability.
We could all use a bit of extra money, but it’s not always easy to figure out how to do that. Here’s some advice on how to save more money and earn money during this inflation nightmare…
1. Reward Cards
If you’re spending tons of money on gas, groceries, and household items, you may as well be getting points and rebates for it. That’s where rewards cards come in.
This can be loyalty points for gassing up at a particular company or shopping at the same chain.
Pro-tip: double up by using a credit card where you get rewards points and cashback while also getting loyalty points and discounts from the place you are doing business with.
Another great option for saving more money is to carpool.
Obviously, you will probably be more comfortable doing this with coworkers or people you know and trust. The point is, with gas so high, it’s a great idea to share a ride to work and where you need to go with others who split the cost with you.
$100 extra , even just weekly from a side hustle, can relieve financial stress for most people.
— Bmalcolm21 (@bmalcolm21) March 14, 2022
3. Get a Side Hustle
Another great idea is to get a side hustle of some kind. It could be a mobile car wash; it could be selling items on Amazon, or it could be working part-time on weekends at a gas station (Lord knows they won’t be running out of business anytime soon).
4. Look Online
There are various opportunities you can look into online, depending on your skillset. No matter what category you’re looking for work in, chances are there’s something out there on the world wide web that will suit your skillset.
5. Buy in Bulk
A lot of money goes down the drain when we buy small quantities of products at the grocery store or convenience store. Instead, buy in bulk and save.
Stock up on staples like rice, grain, and meat as well (you can freeze it for later).
My weekend side hustle.😍
Mobile Car Wash 🧼 pic.twitter.com/P52QScDwne
— Fitness Junky (@KingMax0814) March 13, 2022
6. Buy Gold
Gold is going up in value and is currently more stable than investing through traditional currencies.
You can also consider investing in cryptocurrency; although you should be warned it can be highly volatile and unpredictable, especially in our current world economic climate.
7. Compare Inflation
As billionaire legendary investor Warren Buffet recently advised, one of the best ways to deal with inflation is to think about inflation versus your actual ROIs (return on investments).
If you made 7% on your investments and assets, but inflation went up 9%, you lost money!