How to Budget and Prep your Finances for Rising Prices Inflation
Plan for increased prices by cutting unnecessary costs now. Try looking for monthly expenses that you can lower like your phone bill for example or cutout completely like cable.
Diversify your Portfolio
Now more than ever having a diverse portfolio of assets is essential to long term financial health. Learn more about your investing options from financial literacy books and free online resources.
Look for Substitutions
Avoid overpaying for all your staples simply because of brand. Instead, look for lower cost substitutions for your favorites so you're less likely to blow your budget or feel like you are depriving yourself.
Planning your meals ahead of time is one of the best ways to save money on food as well as get your eating back on track.
Write it Down!
Keep track of your expenses by creating a budget and writing down your spending. Having awareness of how you spend your money can decrease mindless spending.
Use Apps to Save
There are apps that help you save in so many ways! From finding the cheapest gas stations near you to giving you rewards/earns points or cash back for uploading receipt purchases.
Better financial habits can take time to develop and sustain. Having patience with yourself can help you stay on track for the long term.