Inflation: It’s Back Like Everything Else From the ’80s

Available for Interviews: Suzanne Powell

Suzanne Powell Suzanne is the founder of Capital Strategies Group, and acting Vice-President of Meridian Wealth Management. She is also the author of the newly released book, The Ultimate Money Moves for Women Over 50.

What Suzanne Powell could say on
How to Save Money During This Inflationary Period:

Remember the 1980s and high inflation? It was at that time that the world was in a major recession and the US had both tremendous unemployment and inflation. Last year we saw prices increase sharply in the area of energy and goods (especially gas and used cars). Supply chain issues also caused price increases in various goods while consumer demands for these goods remain high.

Here are 5 things we can do to prepare:

    1. Buy in large quantities. Buy things in bulk, and more than you need. This will help control the cost of some of those items for the year if you buy a full year’s supply now. 
    2. Save in transportation. Rideshare, cost-share, and mitigate expenses where you can. I know of people who live in a duplex and share the wifi, and I know of two moms that live together to share housing costs. Get creative!
    3. Eliminate credit debt. Pay off high-interest rate credit cards—quickly. Pay down the highest interest rate first, then the lowest. As the Fed raises rates, watch these variable-rate credit cards and adjust accordingly.
    4. Go on a spending diet. Cut out the extras if you need to, including elaborate vacations, or convenient meals out at restaurants. Instead, replace it with board games, crafting, at-home movies, and a subscription meal service for a few months that feels gourmet!
    5. Plan ahead. Prioritize saving and build up an emergency fund. When that emergency happens, it will cost more than normal and you want to be prepared—so it doesn’t end up on your credit card.

 

Interview: Suzanne Powell

Suzanne Powell Suzanne is the founder of Capital Strategies Group, and acting Vice-President of Meridian Wealth Management. She is also the author of the newly released book, The Ultimate Money Moves for Women Over 50.

Suzanne’s story was recently published in Yahoo! Finance and then picked up by ABC, NBC, Fox, USA Today, Market Watch, and more. Follow this link to learn more about Suzanne: From Humble Beginnings to Becoming an Influential Wealth Management Advisor.

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