Inflation Woes Continue
Just read an article on Yahoo Finance about consumers starting to push back in the grocery stores because of inflation. Basically, the CEO of a small chain said they have noticed consumers buying generic over brand name and opting out of what he called “splurging” items like lobster and crab.
With overall inflation at an average of 9.1%, here are a few quick tips on how to help yourself save during this bought of runaway inflation.
Gasoline: Up almost 60% - drive less, plan out your trips and share shopping with a friend or a relative. You can alternate your trips so each of you can save on driving.
Household Energy: Up almost 22% - get a programable thermostat, raise the normal temperature in your house 2 degrees, turn down the temperature on your water heater.
New Vehicles: Up a bit over 11% - This is a double problem. Not only have prices gone up but with the short supply of computer chips, the negotiation process is almost non-existent. If your car is still drivable consider hanging on to it another year or so.
Pets & Pet Products: Up almost 10% - the only thing I will say here is if you don’t have a pet wait. If you already do, love them, cuddle them, and take care of the like always.
Dining out – Prices up almost 8% - Even with groceries being up over 12% your best bet is to still cook at home.
Recreation – Up 4.6% - Consider doing things that don’t cost money. Walk in the park, hike the river trail or a mountain trail.
But all is not lost. It appears the IT Hardware and services are down 1.2% so computers and those services are less expensive. This goes for rental cars to, being down almost 8% in price.
All in all, remember that we have been here before, inflation isn’t anything new and the markets have always reacted the way they are. If you have specific questions, call me, or talk with your advisor.
In the meantime, if you are interested in learning more about Faith Based Investing and why I do what I do, check out the Eventide Center for Faith & Investing, there is some pretty amazing stuff there.
Photo from Yahoo Finance article Inflation Woes Continue