Economic inflation It may not be a word of four letters, but it can definitely feel the same. When prices rise faster than your salary, your savings shrink, and even more The confident investors start anxiety.
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High inflation gets rid of your purchasing power and add pressure on every financial decision, whether you are trying to do so budgetOr save or grow your money. How can you protect your money when it seems that inflation is working against you at every turn?
We asked Jason Brown, Securities market expert, energy options trader, and authorMillionaire for five years“To share the smartest roads Protect your wealth In inflationary periods. Brown lived through his economic challenges and overcame them-he moved from sleep in a sleeping bag on his childhood floor in Detroit to become debt-free and full of mortgage, and one of the most respectable voices in investment.
His advice? Do not panic – get a strategy.
Here are three movements recommending brown when inflation is high and your purchase strength is under pressure.
Remember that song that Palu and his friends rich in “The Jungle Book”, “The Bare Esiees?” It turns out, they were on something when they were advised to focus just on what you need. For Brown, one of the best ways to protect your money in the high inflation economy is to adjust your spending to determine priorities – you have been guess – bare necessities.
Brown recommends creating a spreadsheet and dividing your spending into three categories:
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Needs: “Food, shelter, accompanying. This is incomprehensible.”
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Cute: “You may need a car, but not necessarily a completely new Cadillac.”
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Want: “TVs, holidays, or new jewelry – things you can live without.”
During high inflation periods, Brown suggests giving priority to the first category and trimming or eliminating the rest.
“Think about eliminating anything in the holidays, while inflation is high,” he said. ))
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It can make high inflating periods even the most financially intelligent people in investment. But Brown warns of exaggeration in the reaction.
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