Time to panic? Inflation and gas prices oh my!

For our wiser and more seasoned readers, you have been here before. Regardless of your age, most of us will not be able to just sit back and ride this out (unless you got over a 7% raise this year then ). You dońt need to panic but you do need to start looking at your expenses and making some adjustments RIGHT NOW! It has been and will continue to be more expensive to cover your basics. A few suggestions:

1. Start trimming your more frivolous spending to free up money to cover the basics of food and transportation.

2. Shop prices. Find the cheapest gas station in your area. Consider shopping at a cheaper grocery store or buying the store brand instead of the name brand (the store brand is usually made by the name brand). Switch to cheaper alternatives (like chicken instead of steak) or buy only what is on sale and make that the center of your meals this week.

3. Carpool, take public transportation, work from home a few days a week (if able).

4. Negotiate a raise, side hustle or work a few extra hours. For me I sub a few hours a month which brings in a few extra bucks.

Be in this for the long haul. Rising gas prices increase the costs of EVERYTHING! Prior to Russiaś invasion of Ukraine, prices were already up over 7%. Skyrocketing gas prices are going to make inflation exponentially worse. So adjust now and be in this for the long haul.

Disclaimer: I am an educator, not your personal financial advisor. Please make sure to do your own research before moving forward with any actions discussed in this blog post.

Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!