Grab your FREE copy of the 60 Low & No Cost PR & Marketing Strategies eBook*

Name:

Email:

*By submitting your email, you will receive the eBook & also sign-up for Carol’s newsletter
Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Prices Are Going Up. Here’s What You Can Do.

Written By: Catherine Morgan | Comments Off on Prices Are Going Up. Here’s What You Can Do.

You have undoubtedly noticed that prices are going up on everything, not just gas. It seems that every time I go to a restaurant or grocery store I am paying more.

According to Carol Roth, in her recent post on Blaze News, “Roth: Creative ways to combat inflation,” there are some creative ideas you might want to try to stay ahead (and keep more money in your pocket). Carol begins:

 American families are paying, quite literally, for the reckless monetary, fiscal, and other policies enabled by government over the past two years. That cost is estimated by some economists to be an additional $5,200 per year, not exactly the kind of money most Americans have lying around. Even if you do, you would rather be investing that money than seeing your purchasing power erode.

I have been asking people the kinds of things they are doing to save money and help their families thrive, or at least survive financially, during this incredibly difficult economic time. I hope that you may find one or more tips you can apply to make your financial situation better as costs remain elevated.

Lock in pricing

Inflation means that your money buys fewer goods and services as prices increase or what you buy decreases in volume (also known as “shrinkflation”). For items you believe will continue to go up in price, try to lock in pricing today, so you aren’t paying even higher prices in the future. Talk to goods and service providers and see if they will give you a discount for bulk purchases or paying in full today.

Carol shares ideas her followers on Twitter suggested in the rest of the post. You can read that here.

 

Photo by Anne Preble on Unsplash

Article written by
Catherine Morgan is the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. She specializes in helping entrepreneurs transition to corporate jobs they love. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant who was employed by three of the former Big Five consulting firms, Catherine speaks frequently on topics related to career transition, small business, productivity, and mental health. She doesn’t take herself seriously, but takes her subject matter very seriously.