We are suddenly staring at hyperinflation in the new year 2022.
All over the World, people are struggling with a steep price hike in all basic needs areas like food,clothing, shelter, medicine, transportation.
Everyone is feeling a pinch as household budgets have gone for a toss due to spiraling cost of living. To add to it, people all over the World are struggling with loss of income due to job loss or a sharp cut in their take home income. Taxes have increased and the struggle to stay afloat is real.
How does one maintain a fairly comfortable existence in these maddening times of hyperinflation?
Though I am perfectly aware about every person’s situation being different, here are a few easy to follow tips ,if you start implementing from today, will definitely provide some relief. You might dismiss them as ineffective but trust me in time they will add up substantially to provide you a sense of relief.
1● Seriously make a budget and stick to it.
Write down all your income and expenditures.
Delete all fixed expenses like rent,mortgage and bills.
Now whatever you are left with, try to live within that budget.
Do not exceed it at any cost.
If it does not fit into your budget, just forget about it.
2● Meal Plan ..this can’t be emphasized enough. Make basic meals,include absolutely basic ingredients and rustle simple,nutritious meals at home. Switch to generic brands of food. This will help you save a lot of money.
No to Takeaways and eating out till you can afford it.
Stop consumption of soda.
Do not buy packaged drinking water.
3● Do not shop for clothes for the entire year. Only exception should be if your kids have outgrown their clothes, holes in your socks, underwear or your clothes are falling apart. Try to mend clothes.
Most of us have enough clothes. Do not buy occasion clothes until it is your wedding. If you are invited for other people’s wedding, just use whatever you have in your closet.
4● Stop buying decor items. They serve no purpose. Don’t get carried away by useless hauls. This way you can say NO to unnecessary clutter and save money. In fact, you already have enough to decorate your home. Just use your imagination, change things a bit and create cozy nooks to relax.
5● Do not buy new electronics only because something new has been launched. Ask yourself, if they are necessary to your job otherwise forget about them.
6● Stop unnecessary subscriptions. Invest in free stuff like a trek, walk around your block, listen to music, cook, do yoga, sleep, read, write, chill.
