Inflation makes our lives harder. The value of our money is depreciating as prices of products, goods, electricity, gasoline, rice (to name a few) are increasing. We’re always trying to make both ends meet. This shouldn’t be the kind of lives we’re living!
We should beat inflation then.
But how should we do this? Is it really possible?
Beating inflation is not impossible if we work hard enough to really find ways to do it.
We have gathered some tips for all of us which may help us reach that financial freedom we’re aiming for. But let’s first aim to fight inflation. Here’s how:
Grow our own veggies and fruits.
We all complain about the price increase of everything in the market. Well then, why don’t we try growing our own veggies and fruits at home? Vegetables such as carrots, potatoes, brocoli, onions, garlic, and tomatoes are just some of the vegetables we always buy. Imagine if we plant all these, we can really save a lot!
Growing fruits may be quite a challenge when we only have limited space to plant them. But if we’re determined to grow fruits of our own, we can try using flower pots and containers. We can also consider vertical gardening. Let’s take advantage of fences and walls for fruits which spread vines. Watermelons, pineapples, grapes and apples are just some of the fruits we can try growing despite our small spaces. We’ll surely appreciate eating the fruits we’ve planted!
Live within our own means.
We really have to do this if we want to beat inflation. Prioritize the bills we have to pay and all necessary expenses. Buy the things we need, not the ones we want. Avoid upgrading gadgets and travelling often. Let’s wait until we have extra money for leisure and fun. It will be worth the wait.
Observe a healthy lifestyle.
We can save a lot and we can beat inflation if we observe healthy living. Let’s stop smoking and drinking hard, and eating what’s bad for our bodies. Not spending to much for hospital bills and medicines will definitely help us save.
Exercise, think happy thoughts, spend more time with loved ones, and drink lots of water. We can also try searching for personal hygiene with low budget but will still keep us clean and good looking. Living a healthy lifestyle is pretty simple!
Create multiple income streams.
We can’t depend on our salaries alone. We have to find some means to gain extra income.
Have sidelines such as tutorials on where we’re good at and passionate about. Find part-time online jobs with flexible time, or start a micro-business.
This is also a means to create multiple income streams. There are in demand jobs out there which require new training and learning. We can look for free training online or register for affordable seminar-workshops which will help us obtain certificates that are necessary for career growth and personal development.
Apply for scholarships.
There are state universities offering free tuition for deserving students. We can try availing these scholarships if we are incoming college students or about to take our master’s degrees or post graduate academic degrees. The scholarships will also provide us monthly allowances, and even job assistance after our studies. These will be of immense help for us to save money while we’re still studying.
It’s really good if we exert effort to save money. But it’s even better if that money we’re saving won’t just be in banks, but also in stocks, mutual funds, variable life insurance and real estate. You don’t have to invest in all of these. Invest one step at a time. Attend free seminars and consult friends who are into different investment platforms. Choose the right companies and monitor your investments.
Investing is one of the best schemes to beat inflation.
Investing in say, stocks, will help you become part of a prestigious and profit-earning company. It’s like getting into business without having the responsibility of getting permits, renting a space in a mall, paying salaries of employees and so much more. But you have to exert effort in placing money regularly in your stock fund. And your money will increase sooner or later.
So cheer up! We can beat inflation!
Let’s not procrastinate. We can try all these schemes now. And it’s all right to make baby steps. We will get there somehow. Let’s just keep on pushing ourselves to reach that financial freedom we’re aiming for!