Inflation means prices are rising and your purchasing power is declining. You can’t get the goods and services you’re used to buying without paying more for them.
Taking the time to reassess the potential earnings from your savings account can be an important step in offsetting inflation’s impact on your bottom line.
But there are other strategies you also may want to consider. Here are steps that can help you protect yourself from inflation.
If you’re a renter, you’re probably at the mercy of your landlord when it comes to how much your monthly payment could go up when it’s time to renew your lease.
Especially if you’re a first-time homebuyer, you might feel more than a little overwhelmed thinking about signing off on a 30-year fixed-rate mortgage.
If you have the room and a knack for bargain-hunting, it may make sense to build up a supply of the kinds of goods that could be affected by inflationary prices.
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