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Beat Inflation with Skillful Shopping
Inflation is one of those words that none of us want to hear. It is also one of those words that we never seem to stop hearing.
While there are many investment-oriented, expert-recommended ways to protect yourself from inflation such as buying and renting out real estate, investing in commodities, or buying up stocks that aren’t likely to decline in a recession, none of these options feel accessible for the average American.
Sure, investing in gold and putting your second house up for rent sound nice, but what if I don’t drive a Mercedes and golf every weekend?
Here are some daily hacks for the everyday person to save during inflation.
Do Your Research
When it comes to saving on shopping, knowledge is half the battle. It is important to know what a good price on your everyday essentials is and try to stick to that price point. This number is known as your anchor price.
Take groceries for example. If you want to get the best deal on a loaf of bread, you will first have to know what quality bread you’re looking for. Typically, what you sacrifice in quality, you make up for in savings. After that, you shop around between stores, look at any discounts available, and settle on a number that works for your budget.